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2018-12-21 14:35:00

SAUDIS NEED $84

SAUDIS NEED $84

PLATTS - Saudi Arabia will require oil prices higher than $84/b to avoid running another deficit, analysts warned after the kingdom announced on Tuesday record government spending in its state budget for 2019.

The budget calls for spending of 1.106 trillion riyals ($350 billion) for the year, up 7% from 2018, despite oil prices slumping in the fourth quarter and the kingdom pledging to cut output as part of OPEC's agreement to balance the market.

Analysts with Riyadh-based…

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Tags: SAUDI ARABIA, OIL, PRICE

Chronicle:

SAUDIS NEED $84
2019, April, 22, 08:20:00

AZERBAIJAN OIL PLATFORM $6 BLN

BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.

SAUDIS NEED $84
2019, April, 22, 08:15:00

CONOCO SELLS BRITAIN $2.67 BLN

ConocoPhillips's gas-focused North Sea assets pumped 72,000 b/d of oil equivalent last year, and the acquisition will help boost Chrysaor's total production this year to over 185,000 boe/d, Chrysaor said in a statement.

SAUDIS NEED $84
2019, April, 22, 08:10:00

BRITAIN'S RENEWABLE 33%

Renewable energy sources generated approximately 33 per cent of Great Britain’s electricity over the first quarter of 2019, according to new figures published by energy consultancy EnAppSys, with wind energy accounting for over 60% of renewable generation.

SAUDIS NEED $84
2019, April, 22, 08:05:00

TURKEY, GERMANY RENEWABLE

To further explore opportunities for bilateral energy expansion, Turkish Energy and Natural Resources Minister Fatih Dönmez and German Federal Minister for Economic Affairs and Energy Peter Altmaier met in Ankara for the second Turkish-German Energy Forum in October last year to sign a letter of intent to enhance the Turkish-German energy partnership.

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