Bahrain

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.

Long dependent on Saudi largesse, Bahrain has discovered major unconventional oil and gas reserves off its western coast. The GCC’s smallest producer plans further development wells in 2018 as it seeks to emerge as the region’s unlikely shale pioneer.

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

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.

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

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.

State-owned Oil and Gas Holding Company (Nogaholding), which controls Bahrain’s key oil and gas subsidiaries, has raised a 10-year $1bn...

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

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

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

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?