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QatarEnergy Warns Of $20bn Annual Revenue Hit
...evated. A DISASTROUS 2026 The economic impact of the Iran war far exceeds that of the 2017-2021 embargo on Qatar by its neighbors. Qatar managed to ride that out comfortably as Saudi Arabia and the UAE were unable to convince the emirate’s primary clients such as China, India and South Korea to lo...
Volume: 69Issue: 13Published at Fri, 27 Mar 2026 -
Israel’s Finance Ministry Seeks Chevron Tamar Ouster
...nin to Energean (MEES, 8 December 2017). Sources within the Tamar partnership believe the dispute will eventually be “resolved amicably” although it could drag out and could potentially impact Chevron’s decision to further invest in Israel. ISRAEL GAS EXPORTS (MN CFD): EGYPT TOOK 78% OF THE 20...
Volume: 68Issue: 13Published at Fri, 28 Mar 2025 -
Baghdad & Kurdistan IOCs Exchange Blame As Northern Export Halt Enters Second Year
...C executive asserts that in January accounting firm Deloitte, which has audited Kurdistan’s independent pipeline exports since 2017, shared “all contractual commercial terms that they [the Baghdad oil ministry] requested without violating the NDA [non-disclosure agreement] of contractual co...
Volume: 67Issue: 13Published at Fri, 29 Mar 2024 -
Pipeline Closure Brings KRG Oil Sector To Standstill
...CLINE Kurdistan’s independent oil sector had been growing increasingly ragged in recent years. The late-2014 oil price collapse dealt a fatal blow to many oil exploration and development projects, while Baghdad’s move to reclaim oil fields around Kirkuk following the KRG’s controversial 2017 in...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Oman Offers Three Blocks In New Bid Round
...: TIGHT GAS PLAY Until recently, the 1,400km2 Block 15 was operated by local firm Hydrocarbon Finder, which drilled two wells in 2017. These produced approximately 44,000 barrels during an extended well test. The firm said that its first exploration well, Ataya-1, was successfully dr...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Mauritania Exploration: Down To Four Blocks As Shell Concentrates Focus, Plans Wildcat
...analysis reiterated by the Mauritanian officials. This is perhaps not surprising given that the block surrounds the only Mauritanian oil field ever to have reached production – Chinguetti, which briefly produced 70,000 b/d following 2006 start-up before output rapidly declined and halted in 2017...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Adnoc Partners With BPFor Transformative Israel Entry
...the new vertical. From May 2017 until January 2021 Mr Kaabi served as CEO of Mubadala’s Petroleum and Petrochemicals division, which through various subsidiaries including Mubadala Energy had established a global upstream energy presence. Shortly after Mr Kaabi moved to another role within Mu...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Kuwait Oil Expansion Gets $1bn Japan Boost
...rkover rigs throughout its fields.” This is considerably more than the one-year high 28 active rigs shown in the Baker Hughes Rig Count for February. According to KOC’s annual reports, drilling and workover activity peaked in 2017-18 with 672 new wells drilled and over 1,500 workover operations. This ha...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Eni Turns To North Africa In Gas Output Drive
...ODUCTION *NO NORTH AFRICA SPLIT AVAILABLE FOR 2021. ^EXCLUDING EGYPT. SOURCE: ENI, MEES. EGYPT GROWTH Egypt has been instrumental to Eni’s tilt towards gas since the start-up of the 21.5tcf offshore Zohr field in late 2017. The field posted record 2.74bn cfd output last year, contributing 40...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Qatar Snags Egypt Mediterranean Block As Relations Advance
...ismic-only commitment. Should Exxon and QE then move to a second two-year phase this comes with a commitment to drill three wells. CYPRUS CONNECTION QE’s entry into North Marakia marks a growing partnership with Exxon in the Mediterranean following the April 2017 award of Cyprus’ of...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Oman Oil Output Hits New Heights In Q1 As Revenues Soar
...st notably the 2017 start up and subsequent expansion of the BP-operated Khazzan tight gas development – Khazzan’s condensate capacity is around 60,000 b/d (MEES, 16 October 2020). Condensate production was restricted by Opec+ commitments between January 2017 and January 2020, but is now exempt fr...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Iraq & Total Reach Initial Deal On $7bn Of Projects
...ogress. Still, Total should fare better than US firms with any such administration, especially as it has proven willing to work with Iran through signing up to develop Iran’s South Pars Phase 11 project in 2017 (MEES, 7 July 2017), even if ultimately it withdrew in 2018 due to US sanctions (MEES, 24 Au...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Exxon Plans 2021 East Med Drilling
...so plans to keep the purse strings tight this year (MEES, 5 February). But this has not stopped it following through on East Mediterranean expansion. The major only entered the region in early 2017 when it snagged Cyprus’ Block 10 in partnership with Qatar Petroleum (Exxon 60%op, QP 40%: MEES, 24 Ma...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
BP Write Offs: $2.3bn For Mauritania/Senegal, $950mn For Egypt
...BP’s recently-released 2020 report reveals that the major last year wrote off $2.26bn on its gas assets off Mauritania and Senegal as well as $952mn for Egypt. The Egypt figure appears to relate to the major’s share of the $12bn West Nile Delta project where output since 2017 start-up has ma...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Qatar Petroleum Moves To Take Full Ownership Of LNG Facilities
...monstrated at the height of tensions with neighboring Saudi Arabia and UAE after they imposed an economic embargo on Qatar in June 2017 which lasted until the beginning of this year (MEES, 8 January). Deep commercial ties with major US and European IOCs undoubtedly bolstered Qatar’s position with western go...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Long Delayed Barzan Gas Project Starts Up
...panese firms – Idemitsu, Cosmo, Mitsui, and Marubeni (see map, main story). The most recent cause for delays was down to problems with pipelines linking the offshore wells to the onshore processing facilities. QP CEO Saad al-Kaabi said in 2017 “It’s delayed because we have had issues with the pi...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Algeria’s Sonatrach Halves Planned 2020 Spending
...re just $62bn, less than a third of the 2014 peak. Many in Algiers seem to have convinced themselves that oil prices in 2015 (then 2016, then 2017…) were unusually low and would revert to ‘normal’. But far from being ‘rainy days’ this period now looks like the calm before the storm. While many lo...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Gulf Capex In the Crosshairs As Majors Eye Spending Cuts
...nounced it was cutting further to just $2.7-2.9bn for 2020, a whopping 47% midpoint reduction from its original $5.2-5.4bn plan. Oxy has since 2017 reversed a previous pullback from Mena, acquiring a swathe of exploration acreage across Oman as well as Abu Dhabi’s Onshore-3 block (MEES, 6 March). Fo...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Saudi Renewables: Seconds Out For Round Three As Heavyweights Enter The Ring
...ase two and 800MW phase three, were awarded to Acwa and TSK and to Masdar and EDF, respectively. Phase two started up in 2017 while two phases with 500MW combined have been started up at phase three and the third is due online in April (MEES, 11 October 2019). The three Saudi firms in the key bi...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Oman Aims To Double Products, Petchems Exports
...ports from late next year. Since expanding its 197,000 b/d Sohar refinery in late 2017 (MEES, 23 February 2018), Oman has seen rapid growth in its exports of key refined products – diesel, jet-kerosene, gasoline and LPG – as it seeks to move up the value chain and maximize oil export revenue. Pr...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020