Middle East

Bahrain

Bahrain’s upstream sector has been rejuvenated by a major unconventional discovery offshore its west coast. Further appraisal drilling is planned for this year. The kingdom is dependent on neighboring Saudi Arabia for political and economic support, as well as 80% of its oil “production.”

News in Brief

Bahrain LNG: On Target

10 Aug, 2018

Bahrain’s virgin LNG import project is making key progress towards hitting its 1Q 2019 start-up target. Bermuda-registered Teekay LNG, the......

Corporate

Bahrain’s Troubled Banking Sector Set For Turbulent Times

20 Jul, 2018

Once seen as the Middle East’s banking center, Bahrain’s financial sector is in terminal decline. Seeking to finance its budget deficits, Manama has increasingly turned to its banks and their credit profiles are now inescapably intertwined. ...

Oil & Gas

Bahrain Takes $300mn Oil Revenue Hit From Abu Safah Outage

01 June, 2018

A cut in crude volumes supplied by neighboring Saudi Arabia means Bahrain’s liquids exports took a Q1 hit, likely trimming export revenue by $300mn.

Oil & Gas

GCC Dependence On LNG Imports Deepens

26 January, 2018

Kuwait’s 5.4mn t/y (725mn cfd) Golar Igloo floating storage and regasification unit (FSRU) is currently moored offshore Dubai as...

Transportation

Key Middle East Producers Ease Off Drilling Going Into 2018

12 January, 2018

Last year saw record low global oil and gas discoveries. The 2018 picture looks similar, despite a nascent major return to deepwater drilling. The Middle East, a bright spot in the downturn, kept drilling at near-record levels in 2017, but dwindling cash reserves mean activity has eased.

Refining & Petrochemicals

Bahrain $4.2b Refinery Deal

08 December, 2017

Bahrain state oil firm Bapco has awarded a $4.2bn engineering, procurement, construction and commissioning (EPCC) contract to France’s Technip...

Geopolitical Risk

Six Months of Solitude: Qatar Crisis Threatens Future Of GCC

08 December, 2017

Qatar has drawn on its foreign reserves to withstand the ongoing embargo. Robust export revenues highlight the Qatari economy’s capacity to withstand the turmoil. As for the GCC, this week’s truncated summit highlights its waning relevance.

Economics & Finance

Bahrain’s Nogaholding Raises $1bn

27 October, 2017

State-owned Oil and Gas Holding Company (Nogaholding), which controls Bahrain’s key oil and gas subsidiaries, has raised a 10-year...

Economics & Finance

Bahrain Taps Debt Market For Record $3bn

22 September, 2017

Bahrain has raised $3bn in a three-tranche international bond issue which was met with strong market appetite with order...

Power & Water

Bahrain: $670mn CCGT Funding

11 August, 2017

GE Energy Financial Services has helped Aluminium Bahrain (Alba) secure two loans totalling $670mn to fund a 1.79GW combined...

Oil & Gas

Bahrain: Ambitious Gas Plans Boosted By LNG Import Go-Ahead

16 December, 2016

Bahrain is pressing ahead with plans to join the GCC’s increasingly dynamic LNG importers club. Having tied up financing, it hopes for early-2019 start-up of its 800mn cfd terminal, just before a key industrial project is set to boost demand.

Bahrain Crude & Condensate Output Rises Back Above 200,000 B/D In March Following Abu Safah Outages ('000 B/D)

01 June, 2018

Bahrain Refined Products Exports Fall On The Back Of Lower Saudi Crude Imports (‘000 B/D)

01 June, 2018

GCC LNG Import Capacity (Bn Cfd)

26 January, 2018

Oil & Gas

Bapco: Bids In For Refinery Expansion

16 December, 2016

Bahrain state oil firm Bapco has received four bids for an engineering, procurement and construction (EPC) contract to expand...

Geopolitical Risk

GCC Fiscal Reforms: Long Overdue And A Long Road Ahead

19 August, 2016

The sustained low oil price has served as a wake-up call to GCC governments that fiscal consolidation is urgently needed. Subsidy cuts are already taking effect but many other reforms will be necessary in the coming years. Will the appetite for reform withstand any oil price gains?

Corporate

Slimmed Down Oxy Emerges Following Divestments

12 August, 2016

The US’ Occidentals’ successful divestment of non-core MENA assets over the past year is enabling the firm to focus...

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