Qatar acquires more foreign assets as the country increases its energy production


qatar-acquires-more-foreign-assets-as-the-country-increases-its-energy-production

Source: BP Statistical Review of World Energy 2016, QNB

 

 

 

 

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Solar Energy cost will be cheaper than coal within 10 years


  • Solar power is now cheaper than coal in some parts of the world. In less than a decade, it’s likely to be the lowest-cost option almost everywhere.
  • Countries from Saudi Arabia to Mexico planning auctions.

solar-energy-cost-will-be-cheaper-than-coal-within-10-years

 

  • Since 2009, solar prices are down 62 percent, with every part of the supply chain trimming costs. That’s help cut risk premiums on bank loans, and pushed manufacturing capacity to record levels. By 2025, solar may be cheaper than using coal on average globally, according to Bloomberg New Energy Finance.

solar-energy-cost-will-be-cheaper-than-coal-within-10-years-2

Gulf Stock Markets Enter Bull Market


Gulf Stock Markets Enter Bull Market

  • Doha’s benchmark gauge advances more than 20% since Jan. 18 2016;
  • Saudi shares up 17% from low;
  • Trading in Kuwait rises;
  • Abu Dhabi’s ADX General Index entered a so-called bull market on Mar. 06 2016 and Dubai’s DFM General Index reached the milestone in February;
  • Bloomberg’s GCC 200 Index, a gauge of the biggest and most liquid companies in the six-nation Gulf Cooperation Council (GCC), went above its 100-day moving average in early March 2016 for the first time since July 2015.

 

 

 

OPEC Loses (and Reclaims) Market Share from U.S. Shale


  • According to the EIA, U.S. Shale losses will accelerate next year with a drop of 390,000 barrels a day in annual average production to 8.86 million barrels a day.
  • OPEC’s fortunes will improve as the U.S. declines, with the IEA predicting demand for the group’s crude climbing to 31.1 million barrels a day next year from 29.3 million in 2014.

OPEC Loses (and Reclaims) Market Share from U.S. Shale

Sources: IEA, Bloomberg

Top 10 influential people in Middle East oil and gas for 2014


A look at the most powerful and influential people in oil and gas within the Middle East and GCC (in particular) in 2014.

1. Khalid Al-Falih – President and CEO of Saudi Aramco.
2. Abdul Munim Saif Al-Kindy – CEO Adco.
3. Hussain Al-Sharistani – Iraqi deputy prime minister.
4. Mohammed Bin Hamad Al Rumhy – Minister of oil & gas, Oman.
5. Ali Bin Ibrahim Al-Naimi – Minister of Petroleum and mineral resources, KSA.
6. Wael Sawan – Executive Vice President and Chairman, Qatar Shell.
7. Saif Al Ghafli – CEO, Abu Dhabi Gas Development Company.
8. Hamad Rashid Al Mohannadi – Managing Director – Rasgas.
9. Abdullah Nasser Al Suwaidi – Director General Adnoc.
10. Raoul Restucci – Managing Director PDO Oman.

Read More . . . 

Source: Arabian Industry

Saudi Arabia is burning through its foreign reserves at a record rate as the kingdom seeks to maintain spending plans despite lower oil prices


  • The latest data from the IMF show Saudi Arabia’s foreign reserves dropped by $16bn to $708bn in March 2015.
  • This has mainly been driven by public sector bonuses paid by King Salman after he came to power in January 2015.
  • This latest spend follows a fall of $20bn in February 2015.
  • Saudi Arabia has spent $47bn of foreign reserves since October 2014.

Saudi Arabia is burning through its foreign reserves

Source: FT.com