Equipment Leasing Insider

Size: px
Start display at page:

Download "Equipment Leasing Insider"

Transcription

1 Equipment Leasing Insider Q Welcome to our newsletter Welcome to First Equilease's Q edition of the Equipment Leasing Insider. In this issue of the newsletter, we focus on Saudi Arabia s Oil & Gas sector. Saudi Arabia, owing to its huge size and its oil reserves, is the largest producer of oil in the world. We look at the recent contracts that have been awarded by the national oil company, Saudi Aramco, over the past few months. The ELFA monthly confidence index has been on a downward trend with the index falling throughout the 3 rd quarter in Most of the owners expected their business prospects to remain unchanged in the next four months. We are eager to hear your suggestions and feedbacks. If you would like to know more about any of the topics covered in the Newsletter, please feel free to get in touch with us. Best wishes, Mohammad Al-Qahtany Chairman & CEO, First Equilease

2 Table of Contents Foreword 1 Saudi Arabia Oil & gas Industry 3 Equipment Leasing and Finance Association Monthly Confidence Index 7 Latest from Global Equipment Leasing News 9 Leveraged Lease 12 2

3 Equipment Leasing Insider Q Market Analysis Oil & Gas industry in KSA Saudi Arabia is the world s largest oil producing nation and currently oil accounts for over 90% of its budget revenues and not surprisingly it is the largest sector in terms of capital spending accounting for 17% of the projects that were awarded in Q According to recent reports, oil & gas projects that are currently under planning, execution, EPC etc. account for 3% of the total value of the projects in the kingdom. An advantage that the overall Middle East region has over other recent oil producing regions is that the oil resources are easily accessible and the output from the oil fields are of higher quality which incidentally lessens the capital that needs to be spent. It also has to be noted that currently the spending on other areas dwarf that of Oil & Gas as this is one sector that has had huge investments in the past. Nevertheless the potential for equipment leasing in this sector is huge. Figure 1: KSA Oil & Gas Top 10 Projects (USD Bn) Wasit Gas Wasit Gas Development - Development - Hasbah Arabiyah Offshore Offshore (A), 1.1 (A), 1.1 SATORP, 1.2 Safaniya Infrastructure Works(A), 1 Riyadh Refinery Clean Transportation Fuel (A), 1 Aramco - Fadhili Gas Plant (A), 3 Ras Tanura Gas Plant (A), 4 SATORP - Jubail Refinery and Petrochemical Complex, 14 Wasit Gas Development (A), 4.6 Shaybah NGL Recovery Program (A), 6 Source: Zawya, Marmore Research, As of Sep 2015, (A)- Projects by Saudi Aramco 3

4 Saudi Aramco accounts for majority of the contract works that are planned, under development or execution. Out of the top 10 Oil and gas projects in the country, 8 projects belong to Saudi Aramco. Figure 3: KSA Proven Oil and Gas reserves Source: Meed The Eastern province of Saudi Arabia has some of the largest discovered resources of crude oil in the world and as a result hosts most of the oil projects in the Kingdom. About 265 kilometers off the coast of the Eastern Province lies the world s largest offshore oil field, Safaniya. Aramco has produced oil from the Safaniya field since 1957 and has estimated reserves of billion barrels and produces 1.2 million b/d. Other large existing offshore oil fields 4

5 Equipment Leasing Insider Q include Abu Safah, Zuluf, Marjan, and Berri 1.The Eastern Province has the largest number of oil and gas projects in the region accounting for 34 projects with a total contract value of $43 Bn while rest of the region accounted for 19 projects worth $ 19Bn. Figure 3: KSA Oil & Gas Projects (Region wise Distribution by no of projects) Tabouk, 1 Riyadh, 2 Medina, 1 Makkah, 1 Unknow n, 4 Jazan, 10 Eastern Province, 34 Source: Zawya Recent Contract Awards by Saudi Aramco Sep Saipem is an engineering and procurement services contractor. It was awarded an EPCI contract by Saudi Aramco. The contract involves engineering, procurement, transportation and installation of offshore structures, including the observation platform, wellhead production deck module, auxiliary platforms, 20-inch internally cladded flowline and composite power cable. Installation activities will be performed offshore. 1 MEED 5

6 Sep Saudi Arabia and Bahrain have signed contracts worth around $300 million to lay a new 350,000-barrel per day (bpd) oil pipeline between the two countries, with the link due to be operational in Bahrain relies on output from the Abu Safa oil field that it shares with Saudi Arabia for the vast majority of its oil and the new pipeline will replace an ageing 230,000 bpd link and enable Bahrain Petroleum Company (Bapco) to expand the processing capacity of its 267,000 bpd Sitra refinery. Arabian Light crude oil will flow from Saudi Aramco's Abqaiq plant via the 115-kilometre pipeline, 73 kms of which will run overland and the rest under the Gulf. Agreements to build the pipeline were signed with Saudi Arabia's Al Robaya Holding Company and National Petroleum Construction Company of the United Arab Emirates. Aug McDermott International, Inc was awarded a lump sum contract by Saudi Aramco for brownfield work in various fields offshore Saudi Arabia. Work on the contract is expected to be executed through the second quarter of The award follows the June 2015 signing of a second Long Term Agreement (LTA) between McDermott and Saudi Aramco for engineering, procurement, construction and installation (EPCI) opportunities in various fields offshore Saudi Arabia. The packages of various EPCI projects that make up the lump sum award represent the largest single award for McDermott s Middle East Area operations in the company s history. Aug Japan's JGC Corp has won a contract to build shale gas facilities in the northwest of Saudi Arabia for state oil company Saudi Aramco. The project, known as System A, will involve building processing facilities, wellheads and pipelines for gas in Turaif, where a big mining project called Waad al-shamal is under development. June Wood Group has been awarded an offshore maintenance potential program contract by Saudi Aramco for greenfield and brownfield engineering services, procurement, and construction management support for new facilities in the Arabian Gulf. The six-year contract, which includes options for two three-year renewals, includes the establishment of an offshore engineering center of excellence in Al Khobar, Saudi Arabia. 6

7 Equipment Leasing Insider Q Table1: Top Oil & Gas Projects in KSA (By Project Value) Primary Sub- Project Value Completion Project Name Sector ($ Mn) Date SATORP - Jubail Refinery and Petrochemical Complex Refinery Dec 2015 Aramco - Shaybah NGL Recovery Program NGL 6.00 Q Aramco - Wasit Gas Development Exploration & 4.60 Q Production Aramco/Dow Chemical - Ras Tanura Gas Plant Processing & 4.00 NA Separation Aramco - Fadhili Gas Plant Processing & Separation SATORP - Jubail Refinery and Petrochemical Complex - Refinery 1.20 Dec 2015 Distillate and Hydrotreater Package Aramco - Wasit Gas Development - Hasbah Offshore Facilities Exploration & 1.10 Q Production Aramco - Riyadh Refinery Clean Transportation Fuel Refinery 1.00 Aug 2016 Aramco - Shaybah NGL Recovery Program - Gas Treatment NGL 1.00 Q Facility Aramco - Shaybah NGL Recovery Program - NGL Recovery Unit NGL 1.00 Q Aramco/Dow Chemical - Ras Tanura Gas Plant - Ethylene Processing & 1.00 Q Cracker and TDI units Separation Luberef - Yanbu Lubricants Refinery Expansion Refinery 1.00 Feb 2016 Aramco - Shaybah NGL Recovery Program - Gas Processing Facilities Source: Zawya NGL 0.92 Q

8 Trends Equipment Leasing and Finance Association Monthly Confidence Index The Equipment Leasing and Finance Association (ELFA) Monthly Confidence Index is one of the most widely known index which is used by industry leaders worldwide to gauge the business confidence. The Equipment Leasing and Finance Association is the trade association representing financial services companies and manufacturers in the $827 billion U.S. equipment finance sector. Figure 2: ELFA Monthly Confidence Index Source ELFA The ELFA monthly confidence index has fallen during the 3 rd quarter of 2015, dropping from 67.4 in August 2015 to 61.1 in Sep In the survey, 29.6% of executives responded saying that they believed business conditions will improve over the next four months, down from 40.9% in August. 59.3% of respondents believe business conditions will remain the same over the next four months, unchanged from previous months. 25.9% of survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, down from 31.8% in August. In September, 51.9% of respondents indicate they believe their company will increase 8

9 Equipment Leasing Insider Q spending on business development activities during the next six months, a decrease from 54.5% in August. 44.4% believe there will be "no change" in business development spending, a decrease from 45.5% last month. Latest from Global Equipment Leasing News Emerging Chinese players bring changes to aircraft leasing industry The rise of young Chinese aircraft lessors is starting to change the rules of the game in the trillion-dollar business in ways keenly felt by their Western counterparts, airlines and manufacturers alike. Just as Bohai Leasing is completing a landmark deal to take over Irish aircraft lessor Avolon Holdings for US$2.6 billion, Awas, another Irish lessor, has attracted at least two Chinese bidders, ICBC Leasing and Avic Capital, in a new round of bidding, with market talk swirling that Bohai Leasing could be interested too. CK Hutchison Holdings was interested in buying Awas in an earlier round of bidding last year. Bohai Leasing declined to comment on market speculation, while Awas did not respond to requests for comment. Sources said ICBC and Avic were interested in a full takeover of Awas, a top-10 player with about 200 planes and whose private equity owner Terra Firma and the Canadian Pension Plan Investment Board are seeking to exit. This is Avic's second bid for Awas, which sold 90 young aircraft to Macquarie Group for US$4 billion in March. Global Lease in talks with 4 banks to acquire EGP 600m Newly-launched Global Lease Company kicked-off legal and administrative procedures to authenticate increasing its paid capital to EGP 50m from EGP 15m, said Chairman of Global Lease Maged Helmi. Global Lease will increase its issued capital to EGP 100m by the first half (H1) of 2016; and its paid capital will be gradually raised to EGP 100m by the end of 2016, he added. Helmi, who is also the Managing Director of Wadi Degla Holding Co., noted that the company provides financing to the food, transportation, and real estate development industries. This entails giving investors financing, not to build housing units but to construct units serving administrative, commercial, and entertainment purposes. Capital Lease Aviation To Buy Airbus A For USD34 Million Capital Lease Aviation PLC said it has entered into an agreement to buy an Airbus A for USD34.3 million. The commercial passenger aircraft leasing company said the transaction will be funded by its existing cash alongside bank debt finance of USD25 million. The acquisition is expected to take place by December 31, giving Capital Lease Aviation a total of four A320 aircraft. At December 31, the average life of the aircraft in CLA's portfolio will be 11.5 years, and the average remaining lease duration will be 4.6 years. "We are pleased with the agreement to acquire an additional A in CLA, which is on lease and is supported with cash maintenance reserves. The acquisition of the aircraft is another desirable growth opportunity for the company and fits well within CLA's investment criteria," Chairman Jeff Chatfield said in a statement. 9

10 Grant Capital Completes Three Equipment Lease Deals Grant Capital Management closed three equipment lease agreements totaling $17.5 million. The first of the leases is with the city of Hartford, CT and is valued at $8.7 million. The second is a five-year, $1.9 million vehicle finance lease with Fulton County, GA. The third was an equipment contract lease of $6.9 million with the District of Columbia Government in Washington D.C. The agreement with Hartford will be used to purchase titled equipment and essential capital equipment. The deal with Fulton will be used to replace 105 county vehicles. The county has a seamless funding process in place so that it can finance vehicles on demand. The transaction with the District of Columbia will be used to finance the purchase and installation of public safety vehicles, buses, trucks and IT equipment for various government agencies. Grant Capital Management is a provider of lease financing to the public sector. Since 2000, it has funded over $5 billion in lease financings. 10

11 Equipment Leasing Insider Q Educational Leveraged lease and its benefits Leveraged Lease: The leveraged lease product has been used by many large corporations to finance capital equipment acquisitions. Commercial aircraft, vessels, railcars and manufacturing lines are assets commonly acquired using this vehicle. Leveraged lease has three parties lessor, lessee and the financier or lender. Equity is arranged by the lessor and debt is financed by the lender or financier. Benefits of leveraged lease The power of the leverage effect and tax benefits lowers the money-over-money rate to the lessee relative to a typical tax lease or straight loan. Since the lessor is able to depreciate all of the equipment with only a relatively small equity investment, this economic benefit can be shared with the lessee in the form of lower rates. Specialized pricing programs can optimize rent and debt schedules to meet particular criteria, such as lowest present value of rent to the lessee, highest book earnings to the lessor or minimum investment duration for the lenders 11

12 About First Equilease We were established in 2005 as a Kuwaiti closed shareholding company. We aspire to be the market's first choice in equipment leasing in the Middle East, recognized for the innovative trend-setting solutions, Client-centric approach, ethical standards, and dedicated towards the sustainability of our community and the environment. P.O.Box 23444, Safat 13095, Kuwait Tel. : (965) Fax : (965) info@firstequilease.com Url : FirstEquilease CopyRight FIRST EQUILEASE 2015 All rights Reserved 12

Equipment Leasing Insider

Equipment Leasing Insider Welcome to our newsletter Welcome to First Equilease's edition of the Equipment Leasing. In this issue of the newsletter, we focus on Kuwait s residential sector. The residential real estate sector, especially

More information

Equipment Leasing Insider

Equipment Leasing Insider Welcome to our newsletter Welcome to First Equilease's edition of the Equipment Leasing. Globally, 1 st quarter of 2014 has seen some positive developments on the equipment leasing front. The ELFA index

More information

Equipment Leasing Insider

Equipment Leasing Insider Equipment Leasing Q3 2014 Welcome to our newsletter Welcome to First Equilease's Q3 2014 edition of the Equipment Leasing. In this issue of the newsletter, we focus on Kuwait s commercial real estate sector.

More information

Refinery Evaluation Model

Refinery Evaluation Model Refinery Evaluation Model Refinery Evaluation Model Independent Appraisal of Refinery Competitive Position SATORP s Jubail Project: The rise of a new wave of export refineries Wood Mackenzie 0 Introduction

More information

Equipment Leasing Insider

Equipment Leasing Insider Equipment Leasing Insider Q1 2016 Welcome to our newsletter Welcome to First Equilease's Q1 2016 edition of the Equipment Leasing Insider. 2016 has been an exciting year so far. Oil prices have forced

More information

Project Finance in Saudi Arabia

Project Finance in Saudi Arabia Project Finance in Saudi Arabia October 2010 in the Middle East and Saudi Arabia Basic Facts employs approximately 200 people in MENA region, having full branch licenses in Saudi Arabia, UAE and Qatar

More information

Enormous. projects now. a specialty for. Saudi Aramco

Enormous. projects now. a specialty for. Saudi Aramco Enormous projects now a specialty for Saudi Aramco By Steve Ell The central control room building (foreground), shown under construction, provides a visual anchor for Saudi Aramco s massive Khursaniyah

More information

Summer Again: The Swing in Oil Demand in Saudi Arabia 1

Summer Again: The Swing in Oil Demand in Saudi Arabia 1 Oxford Energy Comment July 2013 Summer Again: The Swing in Oil Demand in Saudi Arabia 1 Bassam Fattouh It is the time of the year when Saudi Arabia s domestic energy consumption is in the limelight. During

More information

The MEED view of the GCC construction market Ed James, Head of MEED Insight

The MEED view of the GCC construction market Ed James, Head of MEED Insight The MEED view of the GCC construction market Ed James, Head of MEED Insight A presentation for Arabian World Construction Summit Abu Dhabi, 24 May 21 Copyright 21 Emap Business Communications Ltd All rights

More information

Investing In the Downstream:

Investing In the Downstream: Investing In the Downstream: The Point Of View of a National Oil Company Dr. Shokri M. Ghanem Chairman The National Oil Corporation of Libya Good afternoon ladies and gentlemen. Indeed I am delighted to

More information

Bondholders Report. Six months ended 30 September 2010

Bondholders Report. Six months ended 30 September 2010 Six months ended 30 September 2010 Bondholders Report We would like to thank you for your investment in our business. We d also like for you to get to know us a bit better. This short report summarises

More information

Inter Pipeline Fund Announces Strong Third Quarter 2009 Results

Inter Pipeline Fund Announces Strong Third Quarter 2009 Results News Release Inter Pipeline Fund Announces Strong Third Quarter 2009 Results CALGARY, ALBERTA, NOVEMBER 5, 2009: Inter Pipeline Fund ( Inter Pipeline ) (TSX: IPL.UN) announced today its financial and operating

More information

ResultsPresentation 9M 2015. Juan Lladó CEO

ResultsPresentation 9M 2015. Juan Lladó CEO ResultsPresentation 9M 2015 Juan Lladó CEO INDEX Awards& Backlog 2 9M 2015 Financial Results Outlook 2 Awards& Backlog Awards mill Awards& Backlog 3 Awards& Backlog Awards mill 9M 2015: 3,671 M *YTD 2015

More information

Mouwasat Medical Services Company - Mouwasat

Mouwasat Medical Services Company - Mouwasat Recommendation Overweight Fair Value (SR) 92.00 Price as of 2 nd of March 2014 (SR) 81.75 Expected return 12.5% Company data Tadawul symbol 4002.SE 52- week high (SR) 94.00 52-week low(sr) 52.25 YTD change

More information

Leases Summary of outreach meetings with investors and analysts on proposed accounting by lessees May September 2013

Leases Summary of outreach meetings with investors and analysts on proposed accounting by lessees May September 2013 Introduction 1. This summary outlines the feedback that the IASB and the FASB (the boards) received at meetings with investors and analysts on the lessee accounting proposals included in the Leases Exposure

More information

FINANCIAL RESULTS FOR THE THREE MONTH ENDED JUNE 2013

FINANCIAL RESULTS FOR THE THREE MONTH ENDED JUNE 2013 FINANCIAL RESULTS FOR THE THREE MONTH ENDED JUNE 2013 Based on US GAAP Mitsubishi Corporation 2-3-1 Marunouchi, Chiyoda-ku, Tokyo, JAPAN 100-8086 http://www.mitsubishicorp.com/ Mitsubishi Corporation and

More information

Transamerica MLP & Energy Income

Transamerica MLP & Energy Income Alternative Investments Transamerica MLP & Energy Income A comprehensive approach to infrastructure investing Portfolio managed by Kayne Anderson Capital Advisors, L.P. Transamerica Funds are advised by

More information

Leasing Points. The Benefits of Leasing Over Buying

Leasing Points. The Benefits of Leasing Over Buying Leasing Points The National Association of Equipment Leasing Brokers The Benefits of Leasing Over Buying To lease or to buy, that is the question faced by businesses across the country. Here are a few

More information

Oil Markets Update- October 2015

Oil Markets Update- October 2015 SICO Research November 23, - October Crude prices remain low in October led by oversupply and weak economic indicators October has been a volatile month for crude prices; Brent reached USD 53.05/bbl in

More information

A Leveraged Lease Primer

A Leveraged Lease Primer A Leveraged Lease Primer Understanding the tax and accounting treatments of this powerful equipment finance tool. The leveraged lease product has been used by many large corporations to finance capital

More information

FOURTH QUARTER 2015 Report to Shareholders for the period ended December 31, 2015

FOURTH QUARTER 2015 Report to Shareholders for the period ended December 31, 2015 FOURTH QUARTER 2015 Report to Shareholders for the period ended, 2015 MEG Energy Corp. reported fourth quarter and full-year 2015 operating and financial results on February 4, 2016. Highlights include:

More information

I N T E R I M R E P O R T 2 0 0 9

I N T E R I M R E P O R T 2 0 0 9 I N T E R I M R E P O R T 2 0 0 9 LETTER FROM THE CEO Leigh A. Hooper, CEO Dear Investor, Thank you for your interest and continued support of Activa Resources AG. The first half of 2009 was very challenging

More information

UNLOCKING MAJOR COST SAVINGS ON OIL & GAS PROJECTS

UNLOCKING MAJOR COST SAVINGS ON OIL & GAS PROJECTS UNLOCKING MAJOR COST SAVINGS ON OIL & GAS S $ RESPONDING TO A LOW-PRICE OIL ENVIRONMENT THE BENEFITS OF EARLY INVOLVEMENT: In our experience early involvement on a project is key when it comes to securing

More information

Time for take-off The MEED Insight Renewable Energy Webinar 29 April 2013

Time for take-off The MEED Insight Renewable Energy Webinar 29 April 2013 Time for take-off The MEED Insight Renewable Energy Webinar 29 April 2013 The agenda The global trends Latest ME renewable forecast Country reviews Morocco Algeria Egypt Saudi Arabia and the GCC The global

More information

A Detailed Assessment of Global Oil Capacity and Prices Through 2030

A Detailed Assessment of Global Oil Capacity and Prices Through 2030 A Detailed Assessment of Global Oil Capacity and Prices Through 2030 Dr. Sadad I. Al Husseini Oil and Money Conference London October 30, 2007 Oil prices continue to rise in spite of OPEC capacity announcements

More information

Snapshot: Leases. May 2013. Exposure Draft

Snapshot: Leases. May 2013. Exposure Draft May 2013 Exposure Draft Snapshot: Leases This Snapshot introduces the revised Exposure Draft Leases ( ED ) published jointly by the International Accounting Standards Board (IASB) and the US based Financial

More information

Investing for Strathclyde...

Investing for Strathclyde... STRATHCLYDE PENSION FUND DIRECT INVESTMENT PORTFOLIO Investing for Strathclyde......investing in Strathclyde INDEX Page 01 Introduction 02 Overview 03 Strategy 04 Timeline 06 Portfolio INTRODUCTION With

More information

First Quarter 2014 Results Presentation

First Quarter 2014 Results Presentation TECNICAS REUNIDAS Juan Lladó CEO First Quarter 2014 Results Presentation 19 th of May 2014 INDEX TECNICAS REUNIDAS AWARDS & BACKLOG 1Q 2014 FINANCIAL RESULTS OUTLOOK 1 1Q 2014 AWARDS Awards m 1Q 2014:

More information

Getting more value from your fleet

Getting more value from your fleet 22 McKinsey on Finance Number 43, Spring 2012 Getting more value from your fleet Companies may be overvaluing the flexibility that comes with leasing they would be better off buying planes, ships, and

More information

Consolidated Financial Results for the First Two Quarters of the Fiscal Year Ending March 31, 2016 (Japan GAAP)

Consolidated Financial Results for the First Two Quarters of the Fiscal Year Ending March 31, 2016 (Japan GAAP) Consolidated Financial Results for the First Two Quarters of the Fiscal Year Ending March 31, 2016 (Japan GAAP) Name of Listed Company: Yokogawa Electric Corporation (the Company herein) Stock Exchanges

More information

LATIN AMERICA: Oil prices complicate outlook

LATIN AMERICA: Oil prices complicate outlook 1 of 5 12/13/2015 12:06 PM Back to previous page document 1 of 1 LATIN AMERICA: Oil prices complicate outlook OxResearch Daily Brief Service. (Jan 21, 2015). Find a copy http://sfxhosted.exlibrisgroup.com/nps?url_ver=z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:book&

More information

Investor Presentation First Quarter (Q1) 2011. www.dib.ae

Investor Presentation First Quarter (Q1) 2011. www.dib.ae Dubai Islamic Bank Investor Presentation First Quarter (Q1) 2011 www.dib.ae Disclaimer The information provided in this presentation should not be used as a substitute for any form of advice. Decisions

More information

DETERMINATION OF MERGER NOTIFICATION M/14/001

DETERMINATION OF MERGER NOTIFICATION M/14/001 DETERMINATION OF MERGER NOTIFICATION M/14/001 AerCap / ILFC Section 21 of the Competition Act 2002 Proposed acquisition by AerCap Holdings N.V. of International Lease Finance Corporation Dated 31 January

More information

Dubai Islamic Bank. Investor Presentation June 30 th 2011. www.dib.ae

Dubai Islamic Bank. Investor Presentation June 30 th 2011. www.dib.ae Dubai Islamic Bank Investor Presentation June 30 th 2011 www.dib.ae Disclaimer The information provided in this presentation should not be used as a substitute for any form of advice. Decisions based on

More information

With offices in the UK, Canada and France, MDT has developed a reputation for structuring and arranging financial solutions for clients worldwide.

With offices in the UK, Canada and France, MDT has developed a reputation for structuring and arranging financial solutions for clients worldwide. MDT is a financial services and investment firm specialising in arranging equity, debt, lease and structured finance for a broad range of clients involved in capital intensive projects and industries.

More information

(April 1, 2015 June 30, 2015)

(April 1, 2015 June 30, 2015) Financial Results Summary of Consolidated Financial Results For the Three-month Period Ended June 30, 2015 (IFRS basis) (April 1, 2015 June 30, 2015) *This document is an English translation of materials

More information

Sinopec Corp. Announces FY2010 Interim Results

Sinopec Corp. Announces FY2010 Interim Results Sinopec Corp. Announces FY2010 Interim Results Beijing, People s Republic of China (PRC) 22 August, 2010 China Petroleum & Chemical Corporation ( Sinopec Corp. or the Company ) (CH: 600028; HKEX: 386;

More information

Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending March 31, 2016 (Japan GAAP)

Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending March 31, 2016 (Japan GAAP) Consolidated Financial Results for the First Three Quarters of the Fiscal Year Ending March 31, 2016 (Japan GAAP) Name of Listed Company: Yokogawa Electric Corporation (the Company herein) Stock Exchanges

More information

Press Release. FY 2012/13 Alstom achieves a solid commercial and operational performance and free cash flow turns positive

Press Release. FY 2012/13 Alstom achieves a solid commercial and operational performance and free cash flow turns positive Press Release 7 May 2013 FY 2012/13 Alstom achieves a solid commercial and operational performance and free cash flow turns positive Between 1 April 2012 and 31 March 2013, Alstom booked 23.8 billion of

More information

SECTOR ANALYSIS. Egypt: Energy Sector. The Embassy of Denmark in Cairo

SECTOR ANALYSIS. Egypt: Energy Sector. The Embassy of Denmark in Cairo SECTOR ANALYSIS Egypt: Energy Sector The in Cairo March 2014 Keywords: Egypt, The in Cairo, energy, oil, gas, wind energy, solar energy, hydroelectric power. Resume: In this sector analysis you will find

More information

Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2016 (Japan GAAP)

Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2016 (Japan GAAP) Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2016 (Japan GAAP) Name of Listed Company: Yokogawa Electric Corporation (the Company herein) Stock Exchanges Where

More information

FINANCIAL RESULTS FOR THE NINE MONTHS ENDED DECEMBER 2014

FINANCIAL RESULTS FOR THE NINE MONTHS ENDED DECEMBER 2014 FINANCIAL RESULTS FOR THE NINE MONTHS ENDED DECEMBER 2014 Mitsubishi Corporation 2-3-1 Marunouchi, Chiyoda-ku, Tokyo, JAPAN 100-8086 http://www.mitsubishicorp.com/ Mitsubishi Corporation and subsidiaries

More information

Executive Summary: Midland s Three Divisions: Exploration & Production

Executive Summary: Midland s Three Divisions: Exploration & Production Executive Summary: Midland Energy Resources, Inc. is a global energy company with a broad array of products and services. The company operates within three different operations including oil and gas exploration

More information

Air Arabia. Investor Presentation FY 2015

Air Arabia. Investor Presentation FY 2015 Air Arabia Investor Presentation FY 2015 Disclaimer Information contained in this presentation is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information

More information

North America s Source for Equipment Finance

North America s Source for Equipment Finance North America s Source for Equipment Finance Certain information in this presentation is forward-looking and related to anticipated financial performance, events and strategies. When used in this context,

More information

Oil and Gas Mission Dubai - Abu Dhabi - Bahrain (13-22 September 2015):

Oil and Gas Mission Dubai - Abu Dhabi - Bahrain (13-22 September 2015): Oil and Gas Mission Dubai - Abu Dhabi - Bahrain (13-22 September 2015): The Alberta Government - International and Intergovernmental Relations, in partnership with Edmonton Enterprise and Canada-Arab Business

More information

Alberta Oil and Gas Mission to United Arab Emirates (UAE), Bahrain, and Saudi Arabia. November 7 to November 19, 2013

Alberta Oil and Gas Mission to United Arab Emirates (UAE), Bahrain, and Saudi Arabia. November 7 to November 19, 2013 Alberta Oil and Gas Mission to United Arab Emirates (UAE), Bahrain, and Saudi Arabia. November 7 to November 19, 2013 Alberta Ministry of International and Intergovernmental Relations (IIR), in partnership

More information

Dubai Islamic Bank. Investor Presentation September 30 th 2011. www.dib.ae

Dubai Islamic Bank. Investor Presentation September 30 th 2011. www.dib.ae Dubai Islamic Bank Investor Presentation September 30 th 2011 www.dib.ae Disclaimer The information provided in this presentation should not be used as a substitute for any form of advice. Decisions based

More information

An Italian Success Story in the Kingdom of Saudi Arabia

An Italian Success Story in the Kingdom of Saudi Arabia ARABIA SAUDITA Opportunità di business nei settori dell oil&gas, engineering e costruzioni Milano, 25 gennaio 2012 An Italian Success Story in the Kingdom of Saudi Arabia Daslav Brkic Vice President E&C

More information

Master Limited Partnerships (MLPs):

Master Limited Partnerships (MLPs): Master Limited Partnerships (MLPs): Frequently Asked Questions Yorkville Capital Management LLC www.yorkvillecapital.com 950 Third Avenue, 23 rd Floor New York, NY 10022 (212) 755-1970 Table of Contents

More information

FUCHS PETROLUB SE The leading independent lubricants manufacturer of the world

FUCHS PETROLUB SE The leading independent lubricants manufacturer of the world FUCHS PETROLUB SE The leading independent lubricants manufacturer of the world Dr. Alexander Selent, Vice Chairman & CFO Dagmar Steinert, Head of Investor Relations January 2014 The leading independent

More information

Ex-Im As A Lender Of Last Resort?

Ex-Im As A Lender Of Last Resort? FREEDOM PARTNERS PRESS OFFICE FOR IMMEDIATE RELEASE MEDIA@FREEDOMPARTNERS.ORG 6/3/2015 703.888.2527 VIEW ONLINE HERE Ex-Im As A Lender Of Last Resort? Arlington, VA The Export-Import Bank s leadership

More information

Dallah Healthcare Holding Company Dallah Health

Dallah Healthcare Holding Company Dallah Health Recommendation Fair Value (SR) Price as of 23 rd of April 2014 (SR) Expected return Company data Tadawul symbol 52- week high (SR) 52-week low(sr) YTD change Average trading volume (thousand shares) Market

More information

Saudi Income Stocks Portfolio

Saudi Income Stocks Portfolio Investment Strategy Table of Contents Table of Contents: Saudi investment strategy: Income stocks 2 Saudi Investment Strategy: Portfolio selection 7 Cement sector 9 Southern Province Cement Company 10

More information

International Education in the Comox Valley: Current and Potential Economic Impacts

International Education in the Comox Valley: Current and Potential Economic Impacts International Education in the Comox Valley: Current and Potential Economic Impacts FINAL REPORT March 2012 Prepared by: Vann Struth Consulting Group Inc. Vancouver, BC www.vannstruth.com Prepared for:

More information

Investing Practice Questions

Investing Practice Questions Investing Practice Questions 1) When interest is calculated only on the principal amount of the investment, it is known as: a) straight interest b) simple interest c) compound interest d) calculated interest

More information

Presentation of Grupo ACS. September 2009

Presentation of Grupo ACS. September 2009 Presentation of Grupo ACS September 2009 Strategic vision A global leader in infrastructure development In the fields of civil and industrial engineering activities With sustainable and profitable growing

More information

Oceaneering Reports First Quarter 2016 Results

Oceaneering Reports First Quarter 2016 Results PRESS RELEASE Oceaneering Reports First Quarter 2016 Results April 25, 2016 Houston, Texas Oceaneering International, Inc. ( Oceaneering or the Company ) (NYSE:OII) today reported net income of $25.1 million,

More information

BUSINESS TOOLS. Preparing Agricultural Financial Statements. How do financial statements prove useful?

BUSINESS TOOLS. Preparing Agricultural Financial Statements. How do financial statements prove useful? Preparing Agricultural Financial Statements Thoroughly understanding your business financial performance is critical for success in today s increasingly competitive agricultural, forestry and fisheries

More information

CONFERENCE CALL PRELIMINARY FIGURES FISCAL YEAR 2013

CONFERENCE CALL PRELIMINARY FIGURES FISCAL YEAR 2013 WELCOME DÜRR AKTIENGESELLSCHAFT CONFERENCE CALL PRELIMINARY FIGURES FISCAL YEAR 2013 Ralf W. Dieter, CEO Ralph Heuwing, CFO Bietigheim-Bissingen, February 25, 2014 www.durr.com DISCLAIMER This presentation

More information

Presentation on Results for the 2nd Quarter FY 2015. Idemitsu Kosan Co.,Ltd. November 4, 2015

Presentation on Results for the 2nd Quarter FY 2015. Idemitsu Kosan Co.,Ltd. November 4, 2015 Presentation on Results for the 2nd Quarter FY 2015 Idemitsu Kosan Co.,Ltd. November 4, 2015 Table of Contents 1. 2 nd Quarter FY 2015 Financials (1) Overview (2) Segment Information (3) Streamlining 2.

More information

WATER / WASTEWATER & POWER PROJECTS LAST 5 YEARS. No of Staff Provided by BCE. Overall Project Value (SR)

WATER / WASTEWATER & POWER PROJECTS LAST 5 YEARS. No of Staff Provided by BCE. Overall Project Value (SR) WATER / WASTEWATER & POWER PROJECTS LAST 5 YEARS A. Completed December 2001 Shedgum Debottlenecking # 45943/00 47.34 Million Total 600.8 Million 154 n American Oil Co. (ARAMCO) ARAMCO Feb. 1998 to Dec.

More information

Regional Electricity Supply Issues: Coping with Capacity Needs

Regional Electricity Supply Issues: Coping with Capacity Needs Regional Electricity Supply Issues: Coping with Capacity Needs IDEA International District Cooling Symposium October 2007 Dubai, United Arab Emirates President Mark Spurr Legislative Director District

More information

Performance = Ratio of Knowledge

Performance = Ratio of Knowledge Performance = Ratio of Knowledge Introduction SG Petroleum is a company based in the Eastern Province of the Kingdom of Saudi Arabia and has over 200 years of collective experience. The company is situated

More information

STRATEGIC CONSULTING AND INDUSTRY ADVISORY SERVICES Due Diligence and Advisor to Lenders and Investors

STRATEGIC CONSULTING AND INDUSTRY ADVISORY SERVICES Due Diligence and Advisor to Lenders and Investors For over 20 years, Baker & O'Brien consultants have acted as "Technical Advisor" on major energy projects. In this role, we often perform a technical and economic due diligence analysis of the project.

More information

contents Group Profile Key Personnel Overview Industry Engineering Telecom Services

contents Group Profile Key Personnel Overview Industry Engineering Telecom Services profile contents Group Profile Key Personnel Overview Industry Engineering Telecom Services group profile Al-Hejailan Group of companies, founded in 1980, has become one of the leading providers of professional

More information

Rocket Internet Co-Investment Fund

Rocket Internet Co-Investment Fund Presentation1 Agenda Page [ P R E S E N T A T I O N T I T L E ] April 2015 Rocket Internet Co-Investment Fund [ C L I E N T N A M E ] 19 th January 2016 1 Disclaimer This document is being presented solely

More information

Nordic American Tanker Shipping Ltd. (NAT) (NYSE: NAT) Announces 3 rd quarter 2005 Results

Nordic American Tanker Shipping Ltd. (NAT) (NYSE: NAT) Announces 3 rd quarter 2005 Results Nordic American Tanker Shipping Ltd. (NAT) (NYSE: NAT) Announces 3 rd quarter Results Hamilton, Bermuda, October 10 th, Nordic American Tanker Shipping Ltd (the Company ) today announced its result for

More information

Financing Drivers and Funding Rapid Growth

Financing Drivers and Funding Rapid Growth Financing Drivers and Funding Rapid Growth IDEA International District Cooling Symposium October 2007 Mohamed Elshentenawy Palm District Cooling Mohamed.Shentenawy@dubaiworld.ae Presentation outline GCC

More information

For Immediate Release: January 30, 2014. Occidental Petroleum Announces 4 th Quarter and Twelve Months of 2013 Net Income

For Immediate Release: January 30, 2014. Occidental Petroleum Announces 4 th Quarter and Twelve Months of 2013 Net Income For Immediate Release: January 30, 2014 Occidental Petroleum Announces 4 th Quarter and Twelve Months of 2013 Net Income Q4 2013 core income of $1.4 billion, or $1.72 per diluted share Q4 2013 net income

More information

The Bayt.com Middle East and North Africa. Salary Survey 2016. May 2016

The Bayt.com Middle East and North Africa. Salary Survey 2016. May 2016 The Bayt.com Middle East and North Africa Salary Survey 2016 May 2016 Objective This research was conducted to gauge employee satisfaction levels with their salaries, but also pay raises and factors impacting

More information

PETROLEUM SECTOR DEVELOPMENTS IN EGYPT

PETROLEUM SECTOR DEVELOPMENTS IN EGYPT PETROLEUM SECTOR DEVELOPMENTS IN EGYPT March 2009 2009 Business Studies & Analysis Center. All rights reserved. Unauthorized reproduction, copying, re-mailing, storage or website posting is prohibited.

More information

STRATEGIC CONSULTING AND INDUSTRY ADVISORY SERVICES Merger and Acquisition Support

STRATEGIC CONSULTING AND INDUSTRY ADVISORY SERVICES Merger and Acquisition Support Baker & O Brien s due diligence experts often work closely with and advise financial teams on a wide range of technical and economic issues that impact the hydrocarbon processing industries. Our consultants

More information

President & CEO Shigemasa Sonobe

President & CEO Shigemasa Sonobe Corporate Profile The Japanese economy and domestic business environment is continually changing in response to economic and social changes in Japan and other countries around the world. As a result, the

More information

Financing Solar Energy for Affordable Housing Projects. May 2009

Financing Solar Energy for Affordable Housing Projects. May 2009 Financing Solar Energy for Affordable Housing Projects May 2009 Overview Photovoltaic Systems. Installations of photovoltaic systems on the customer side (as opposed to the utility side) of the meter have

More information

February 2, 2016 Consolidated Financial Results for the Third Quarter of Fiscal Year 2015 (From April 1, 2015 to December 31, 2015) [Japan GAAP]

February 2, 2016 Consolidated Financial Results for the Third Quarter of Fiscal Year 2015 (From April 1, 2015 to December 31, 2015) [Japan GAAP] February 2, 2016 Consolidated Financial Results for the Third Quarter of Fiscal Year 2015 (From April 1, 2015 to December 31, 2015) [Japan GAAP] Company Name: Idemitsu Kosan Co.,Ltd. (URL http://www.idemitsu.com)

More information

Saudi Arabia's Upstream and Downstream Expansion Plans for the Next Decade:

Saudi Arabia's Upstream and Downstream Expansion Plans for the Next Decade: Center for Strategic and International Studies Arleigh A. Burke Chair in Strategy 1800 K Street, N.W. Suite 400 Washington, DC 20006 Phone: 1 (202) 775-3270 Fax: 1 (202) 457-8746 Saudi Arabia's Upstream

More information

Sector Outlook - Tyre

Sector Outlook - Tyre Indian Tyre industry to benefit from improving auto demand, lower raw material costs May 7, 2015 The Indian tyre industry has been witnessing tremendous growth for the past few years on account of growth

More information

Workforce Demands In the Mining Industry Workforce Solutions

Workforce Demands In the Mining Industry Workforce Solutions Workforce Demands In the Mining Industry Workforce Solutions *Workforce Solutions is an affiliate of the Gulf Coast Workforce Board, which manages a regional workforce system that helps employers solve

More information

COMPANY UPDATE FIRST QUARTER 2016 RESULTS

COMPANY UPDATE FIRST QUARTER 2016 RESULTS COMPANY UPDATE FIRST QUARTER 2016 RESULTS ROYAL DUTCH SHELL 4 MAY 2016 Copyright of Royal Dutch Shell plc May 4, 2016 1 SIMON HENRY CHIEF FINANCIAL OFFICER ROYAL DUTCH SHELL PLC 2 DEFINITIONS & CAUTIONARY

More information

Farm Planning FOR THE FUTURE: MINERAL LEASES

Farm Planning FOR THE FUTURE: MINERAL LEASES Farm Planning FOR THE FUTURE: MINERAL LEASES Mineral Leases Marcellus Shale gas wells are becoming more and more common. You may be approached by a landman if you own land on the Marcellus formation spanning

More information

Ghana s Economic and Political Environment and the Implications for Doing Business

Ghana s Economic and Political Environment and the Implications for Doing Business Ghana s Economic and Political Environment and the Implications for Doing Business Dr. Joe Amoako-Tuffour Director of Research The African Center for Economic Transformation Accra November 5, 2015 NORWAY-GHANA

More information

Eyefortransport Middle East Summit - Dubai

Eyefortransport Middle East Summit - Dubai Middle East - Connecting the Middle East to the World: Key Success Factors for Logistics Companies by Dr. Mehmet Gumus American University of Outline 1. Logistics costs as % GDP 2. Integrated Logistics

More information

Falling Oil Prices and US Economic Activity: Implications for the Future

Falling Oil Prices and US Economic Activity: Implications for the Future Date Issue Brief # I S S U E B R I E F Falling Oil Prices and US Economic Activity: Implications for the Future Stephen P.A. Brown December 2014 Issue Brief 14-06 Resources for the Future Resources for

More information

TonenGeneral Sekiyu K.K. Business Strategy and 2007 Financial Results

TonenGeneral Sekiyu K.K. Business Strategy and 2007 Financial Results TonenGeneral Sekiyu K.K. Business Strategy and 2007 Financial Results February 15, 2008 at TSE Arrows This material contains forward-looking statements based on projections and estimates that involve many

More information

SOCAR TURKEY AEGEAN REFINERY

SOCAR TURKEY AEGEAN REFINERY SOCAR TURKEY AEGEAN REFINERY SOFITEL HOTEL, BUDAPEST HUNGARY 13 th October- 15 th October 2015 STAR REFINERY INTEGRATION PROJECT UPDATE ROBERT STOREY CEO ADVISOR. SOCAR TURKEY ENERJİ A.Ş October 2013 Trends

More information

Raising Capital for Oil & Gas:

Raising Capital for Oil & Gas: Raising Capital for Oil & Gas: Options, Opportunities & Outlook Presented By: Dolapo Oni Ecobank Research About Ecobank Group A Snapshot Facts Present in 39 countries worldwide Operating in 35 African

More information

PIPELINE FUNDAMENTALS. texaspipelines.com

PIPELINE FUNDAMENTALS. texaspipelines.com PIPELINE FUNDAMENTALS texaspipelines.com Texas Oil & Gas: Generating $2.6 Billion for State Revenues texaspipelines.com Texas Oil & Gas Texas produces 20% of US Domestic Oil Production 1.1 Million Barrels

More information

SAMA GENERAL DEPARTMENT OF FINANCE COMPANIES CONTROL. Prudential Returns Handbook (Finance Companies)

SAMA GENERAL DEPARTMENT OF FINANCE COMPANIES CONTROL. Prudential Returns Handbook (Finance Companies) SAMA GENERAL DEPARTMENT OF FINANCE COMPANIES CONTROL Prudential Returns Handbook (Finance Companies) 1. Introduction Submission schedule All licensed finance companies in Saudi Arabia are required to submit

More information

The Performance of Australian Industrial Projects

The Performance of Australian Industrial Projects The Performance of Australian Industrial Projects Prepared for the Business Council of Australia by Rob Young, Independent Project Analysis, Inc May 2012 Executive Summary Independent Project Analysis,

More information

Brenntag AG Analyst Round Table 2014

Brenntag AG Analyst Round Table 2014 Brenntag AG Analyst Round Table 2014 London November 5, 2014 AGENDA Update on Brenntag Europe and ONE Brenntag initiative Karsten Beckmann, CEO Brenntag Europe Update on Brenntag North America and Oil&Gas

More information

CORRAL PETROLEUM HOLDINGS AB (publ)

CORRAL PETROLEUM HOLDINGS AB (publ) CORRAL PETROLEUM HOLDINGS AB (publ) REPORT FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2011 FOR IMMEDIATE RELEASE Date: March 30, 2012 London Nr. of pages 14 This report includes unaudited consolidated

More information

Investment Community Presentation. May 2016

Investment Community Presentation. May 2016 Investment Community Presentation May 2016 Forward Looking Statements This presentation includes forward-looking statements, which are statements that frequently use words such as "anticipate," "believe,

More information

Paper P2 (INT) Corporate Reporting (International) Tuesday 11 June 2013. Professional Level Essentials Module

Paper P2 (INT) Corporate Reporting (International) Tuesday 11 June 2013. Professional Level Essentials Module Professional Level Essentials Module Corporate Reporting (International) Tuesday 11 June 2013 Time allowed Reading and planning: Writing: 15 minutes 3 hours This paper is divided into two sections: Section

More information

INTERIM REPORT 1.1.-30.9.2004

INTERIM REPORT 1.1.-30.9.2004 INTERIM REPORT 1.1.-30.9.2004 RAUTE OYJ 1 (9) RAUTE OYJ S INTERIM REPORT FOR JANUARY 1 - SEPTEMBER 30, 2004 Net sales MEUR 60.6 (MEUR 55.1) and operating profit MEUR 4.8 (MEUR -7.6) grew markedly. Net

More information

Financial Summary 3rd quarter of FY2012. January 29, 2013 Tohoku Electric Power Co., Inc.

Financial Summary 3rd quarter of FY2012. January 29, 2013 Tohoku Electric Power Co., Inc. Financial Summary FY2012 January 29, 2013 Tohoku Electric Power Co., Inc. Contents 1. Summary of the FY2012 Results 2. Electricity Sales 3. Large Industry Sector 4. Electricity Generated and Purchased,

More information

Saudi Arabian Oil Company (Saudi Aramco)

Saudi Arabian Oil Company (Saudi Aramco) Saudi Arabian Oil Company (Saudi Aramco) Summary Plan Description Retirement Income Plan U.S. Dollar Employees January 1, 2016 Table of Contents WHO IS ELIGIBLE... 1 COST AND FUNDING... 2 VESTING... 2

More information

Spectra Energy Reports First Quarter 2012 Results

Spectra Energy Reports First Quarter 2012 Results Media: Analysts: Wendy Olson (713) 627-4072 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: May 4, 2012 Spectra Energy Reports First Quarter 2012 Results Reported net income from

More information

TASI DESCENDS. Week Ending Aug 06, 2015

TASI DESCENDS. Week Ending Aug 06, 2015 Week Ending Aug 6, 215 The Islamic finance industry is heading towards higher degrees of Shari'ah governance with an increasing number of markets introducing independent external Shari'ah audit as a regulatory

More information

THE WORLD OIL MARKET. Mohan G. Francis

THE WORLD OIL MARKET. Mohan G. Francis THE WORLD OIL MARKET Mohan G. Francis With the Bush administration busily moving military forces to the Gulf region, the sense of an impending war has begun to make an impact on the world petroleum markets.

More information