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2017-03-22 18:50:00

SAUDI'S ENERGY INVESTMENT $124 BLN

SAUDI'S ENERGY INVESTMENT $124 BLN

OGJSaudi Arabia leads countries of the Middle East and North Africa (MENA) in future energy investment, according to a study by Arab Petroleum Investments Corp., Dammam, (APICORP).

The kingdom plans to invest $124 billion in energy projects during the next 5 years, beyond the $42 billion it has committed to projects already under execution.

Iran is second in total planned energy investment, at $103 billion, but leads the group in committed projects with an estimated $51 billion.

The study estimates the value of all committed projects in the MENA region at $337 billion and says a further $622 billion of development is planned during 2017-21.

APICORP's total of $960 billion for planned and committed projects in the MENA region during 2017-21 is $60 billion higher than what it estimated last year for 2016-20.

Of MENA projects planned for 2017-21, power projects account for $207 billion, followed by oil projects at $195 billion and gas projects at $159 billion. Remaining investments are in petrochemicals.

Of projects under execution, $121 billion is for oil, mostly upstream. Gas accounts for $108 of the committed projects, power $91 billion, and chemicals $17 billion.

In the committed category, $174 billion is for projects in Gulf Cooperation Council countries.

In North Africa, Egypt and Algeria lead in committed projects with a combined $52 billion.

Challenges to MENA investment include uncertainty about oil prices, problems of creditworthiness, and turmoil generated by conflicts in Syria, Iraq, Libya, and Yemen, according to APICORP.

"Regional instability is unlikely to recede in the immediate future, and investors will be wary of spillover effects in neighboring countries," it said.

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Earlier: 

CHINA'S INVESTNENT TO SAUDI 

SAUDI'S SALES TO CHINA 

SAUDI - JAPAN TALKS 

SHELL & SAUDI AGREEMENT 

SAUDI'S RENEWABLE ENERGY

 

 

Tags: SAUDI, ENERGY, INVESTMENT

Chronicle:

SAUDI'S ENERGY INVESTMENT $124 BLN
November, 24, 09:15:00

SAUDI'S OIL FOR CHINA

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

SAUDI'S ENERGY INVESTMENT $124 BLN
November, 24, 09:10:00

URALS QUALITY WILL DOWN

PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.

SAUDI'S ENERGY INVESTMENT $124 BLN
November, 24, 09:05:00

S.KOREA'S SOLAR UP

FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn. 

SAUDI'S ENERGY INVESTMENT $124 BLN
November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.

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