GEORGIAN OIL AND GAS CORPORATION - 1H16 UPDATE
GOGC released 1H16 unaudited results. Revenue increased 30.6% y/y, boosted by electricity sales, which commenced in 3Q15. Operating expenses, dominated by cost of gas, increased 15.0% y/y. As a result, adjusted EBITDA almost doubled, compared to the same period last year, reaching US$ 47.0mn.
Regional Fixed Income Market Watch - August 2016
Latest US non-farm employment figures came in below expectations in August 2016, lowering the probability of the FED increasing rates at the September 2016 meeting.
Bank of England lowered its policy rate from 0.5% to 0.25% in August 2016, the first change in seven years. At the same time, BoE increased asset acquisition by GBP 60bn to GBP 435bn.
GEORGIA'S ENERGY SECTOR - ELECTRICITY MARKET WATCH | MAY 2016
omestic consumption needs were fully met by domestic hydrogeneration in May 2016. Electricity generation by Enguri and Vardnili made up 50% of total consumption. Imports were negligible.
GEORGIA'S TOURISM SECTOR - SHIFTING INTO HIGH GEAR
After a resilient 2015, the tourism industry in 2016 has shifted into high gear. The focus of Georgia’s tourism strategy moving forward should be on the quality and diversity of visitor arrivals.
Electricity Market Watch - April 2016
Domestic electricity consumption was flat in April 2016 and up 1.3% y/y in 4M16. The high consumption growth by the Abkhazian Region in previous months leveled off in March 2016 and usage was down 12.5% y/y in April 2016.
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