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Oil-Poor Arab States Get Multilateral Finance Boost For Renewables
...ectricity from renewables. EBRD and IFC began investing in energy projects in Egypt, Jordan, Morocco and Tunisia as part of the IMF’s ‘Arab Countries in Transition Program’ which followed the 2011 ‘Arab Spring.’ This targeted these four countries plus Yemen and Libya (MEES, 24 October 2014). At the re...
Volume: 59Issue: 48Published at Fri, 02 Dec 2016 -
Oman Power: Foot Off The Gas Despite Khazzan Progress
...readbare international project pipeline. When asked on the firm’s 1 November Q3 earnings call “Given the [cost] deflation you have seen, is it time to step up the FIDs [final investment decisions]?” CFO Brian Gilvary says “we rebuilt the company over 2011 to 2014 [with a massive sell-off of assets to fund ‘De...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Iraq’s Tentative Gas Gains Insufficient To Stem Oil Burn Growth
...cessary infrastructure to process the gas, resulting in sky high flaring levels. The percentage flared has increased from 51.1% in 2009 to 69.4% last year. However, the situation is improving, with flaring falling to 63.5% so far this year, on course for the lowest level since 2011 – although the volume fl...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Iran Starts Work On Nuclear Plants, Eyes Local Fuel Supply
...heduled to begin in two years time. Rosatom’s Atomstroyexport subsidiary will build the two plants on a turnkey basis. The company built the Bushehr-1 plant, which was connected to the grid in September 2011 and reached full capacity in August 2012. PROBLEM PROJECT Bushehr-1 is the Mena re...
Volume: 59Issue: 37Published at Fri, 16 Sep 2016 -
Israel Switching To Gas From Coal As Tamar Ramps Up
...ek suggested that Zohr might be in line for a reserves upgrade (see p5). Noble, Delek and, since last year, BG hold the right to Cyprus’ only gas discovery to date, 5 tcf Aphrodite discovered in 2011 close to the Israeli maritime border. Subsequent exploration by Total and Eni on nearby blocks (in...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Saudi Electricity Taps China For $1.5bn, Takes Expansion Funding To $33bn
...shore up its finances is also growing, and quickly. SEC’s outstanding government loans increased by 112% from SR18.15bn ($5.03bn) in 2011 to SR39.99bn ($10.66bn) in 2015. SEC is owned 74% by the Saudi government, 7% by state petroleum firm Saudi Aramco, and 19% by private investors. Given the gr...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Egypt’s $25bn Russian Nuclear Loan Raises Questions Of Economics And Transparency
...shehr-1 1 1 3.5 Start-up 2011, operation intermittent until 2013 Bushehr-2,3 2 2 11 Rosatom to build for start-up 2023, 2025 UAE Barakah 5.6 4 20 Under construction by Kepco. All du...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Algeria’s Sonelgaz Eyes Foreign Loans To Bridge $10bn Funding Gap
...15. Former energy minister Youcef Yousfi announced a plan in 2011 calling for 22GW of renewables capacity by 2030. This included 13.6GW of solar photovoltaic capacity, 5GW of wind capacity and 2GW of concentrated solar power. A first phase of 6GW by 2024 was priced at AD1.31trillion ($12.21bn – ME...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Dubai Plans $27bn Green Power Fund, But Considering Expanded Coal Program
...bsidized. The UAE has recently hiked the costs of transport fuels, by linking gasoline and diesel prices to international prices (see p13). However, DEWA has operated a fuel surcharge for electricity and water customers since January 2011, which is adjusted on a monthly basis. DEWA charges consumers a mi...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016