Sentences with phrase «oil revenues»

Others preferred cash dividends on efficiency grounds, believing that individuals would be better able to make good use of oil revenues than government.

Despite making fiscal changes to reduce the national budget's dependence on oil revenues, he may push for new measures to improve his chances in the country's 2018 presidential elections.

By coincidence, $ 9 billion is just short of the amount transferred from north to south in oil revenues since 2005.

A budget crisis brought on by declining oil revenues now places that critical publication channel in jeopardy.

We will now use oil revenues to revive our agriculture and industries.

First we clearly understand the paradox that to diversify from oil we need oil revenues.

Right now, oil revenues make up a whopping 90 percent of the country's budget.

For the first time, the kingdom will tap international bond markets to make up for lost oil revenues.

That's where lawmakers decide on key legal and regulatory frameworks that allow for greater oversight over oil revenue and empower local communities.

Over the last two years, its economy has suffered badly from reduced oil revenues.

The money most likely came from state oil revenues in a country where the vast majority survive on less than a dollar a day.

A stronger dollar meant oil revenues were worth more.

The law requires that 70 % of oil revenue goes into funding the country's annual budget, hence can not all be dedicated to one item as the president seeks to do.

I am only impressed because for the first time as I said earlier, oil revenue projection has taken a second position in our budget, which is a good development.

There is growing anger about the Scottish government oil revenue forecasts, which were supposed to be updated regularly.

With additional oil revenues, the region will jump from one with the lowest incomes to one of the highest in just a few years.

It is unclear, however, to what extent oil revenues are distributed across the population, and whether there are governance projects beyond dams that benefit people at large.

The bill is a powerful tool for poverty reduction, as transparency will enable oil revenues to be managed in a more accountable way.

But the central government also needs the money and will be reluctant to surrender too great a share of oil revenues to the county administration.

As others have noted other factors such as declining oil revenues and population growth are too large to claim that it was a primary effect.

The southern government is not involved, despite the fact that oil revenues make up 98 % of their income.

Minimising output disruptions in the Niger delta is key to growth in Nigeria, which relies on oil revenues for infrastructure investments to diversify the economy, Udoma said, explaining that «you have to use what you have to get what you want.»

Green Street noted that the impact to property values could expand beyond energy markets if sovereign wealth funds, many of which are funded by oil revenues, begin to dial back their U.S. real estate investment.

She said mid last week that in the face of dwindling oil revenues the Federal Government has borrowed N473billion to pay salaries and fund the 2015 budget.

He was speaking following a meeting with Saudi deputy crown prince Mohammed bin Salman, who is visiting the United States to promote a reform plan to wean the kingdom away from oil revenue.

The Middle East is, however, split between strong Gulf airlines, with successful long - haul super-connector operations, and regionally - focused airlines which are suffering from the impact of lower oil revenues and political conflict.

President Muhammadu Buhari presented the 2017 Appropriation Bill to the National Assembly on Dec. 14, 2016 with projected oil revenue at N1.99 trillion, on price benchmark of 42.5 dollars per barrel.

What PIAC should know is that — Ghana relies heavily on crude oil revenue to fund government spending on projects.

The team has so far visited oil revenue funded projects such as the Zakpalsi irrigation project in the Northern Region, and the Tankasi and Zuiding irrigation projects in the Upper East Region.

Let me give this government credit, because since 1972, this is the first time the projected oil revenue in the budget is less than non-oil revenue, meaning, revenue from other sources aside from oil.

«It was the reason why, in spite of record oil revenues between 2011 and 2013/14, we saw no savings, and very little investment in infrastructure and jobs, and, in spite of the billions of dollars reportedly invested in security, the Boko Haram insurgency did not abate.»

Saudi Arabia currently faces a steep budget deficit, as oil revenues make up close to 90 percent of the country's budget.

But in contrast, GDP per capita has declined by 12 per cent under John Mahama's tenure as president when oil revenue and loans alone over the eight - year period of 2009 - 2016 would amount to GHS248billion,» he said at the lecture on the theme: «State of Ghana's Economy — Foundation of Concrete or Straw?»

He lambasted government for what he called a failure to grow the economy despite revenues from oil, compared to what the NPP achieved without oil revenue.

«If you lose oil revenues through corruption and pipeline vandalism, your exchange rate goes up.

But rather than lowering an existing tax, it relies on a so - called tax - and - dividend model: As the state of Alaska does with oil revenues, revenues from the Council's national carbon tax would be returned equally to all American households in quarterly «dividends» digitally deposited in Social Security accounts.

Today it's estimated that around 80 percent of Saudi household income depends on government subsidies, supported by vast oil revenues.

But since oil revenue has been cut in half, hard measures must be taken to keep the dividend running, Alaska Governor Bill Walker argues.

President Nana Akufo - Addo, who was elected in late 2016 on a wave of discontent over the economy, has pledged to heed that advice, and to funnel oil revenues into education, agriculture and manufacturing, to diversify the economy.

With oil prices climbing to above $ 100 / barrel, the Arab Peninsula is currently generating export oil revenues of $ 1 trillion dollars a year.

Last year, oil revenue accounted for 45 percent of Russian government revenue, according to an analysis of data accessible via Bloomberg.

There is also the realpolitik argument that, since we were never going to depopulate Iraq, we needed a stable and legitimate Iraqi government, and this included a government that controlled oil revenues.

Government had to continously revive the national budget on account of oil revenue shortfalls.

The cost of government was brushed aside by a premature exuberance about the coming oil revenues.

Analysts say falling oil revenues after the price crash in 2014 has also sapped Chad's appetite for expensive regional security commitments.

Driven by strong oil revenues, the rapid evolution engulfing Saudi Arabia today shows no signs of slowing down.