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Red Sea’s Geopolitical Chessboard Latest Global Flashpoint
...s support for the autonomous region. In 2017, Somaliland allowed the UAE to develop a military base at the port of Berbera, a year after granting a permit to Dubai’s DP World to build a commercial port there. Israel’s recognition of Somaliland further complicates the already fragmented political sc...
Volume: 69Issue: 01Published at Fri, 02 Jan 2026 -
Mauritania: Mena’s Newest Gas Producer
...ack at being a petrostate. The Chinguetti oil field started up with much fanfare in 2006 but output rapidly dwindled from an initial 75,000 b/d, with the country’s only producing field finally coming to a halt in 2017. And, with further exploration having largely dried up, expansion at Tortue and/or...
Volume: 68Issue: 01Published at Fri, 03 Jan 2025 -
Egypt Gas Output & LNG Exports Slump To Multi-Year Lows For 2023
...Egypt’s gas output slumped to a six-year low 5.82bn cfd for 2023 with LNG ex-ports halving to 3.32mn tons despite record 835mn cfd imports from Israel. Egypt gas output fell for the second consecutive year, slumping 11% to 5.82bn cfd for 2023, the lowest level since 2017. While Egypt’s ma...
Volume: 67Issue: 01Published at Fri, 05 Jan 2024 -
Kuwait Seeks To Reboot Stalled Power Projects
...at instance bidders were assessed throughout late-2016 and early 2017, only for the whole process to fall apart in mid-2017 after PPP laws were amended. By mid-2019, KAPP and the Ministry had re-configured the main planned feedstock for Khairan from very low sulfur fuel oil (VLSFO) to natural ga...
Volume: 67Issue: 01Published at Fri, 05 Jan 2024 -
Oman Announces New National Gas Company
...d policies related to gas pricing and supply to various sectors of the economy including gas sales to industry. RESURGENT GAS SECTOR The start-up of BP’s 1bn cfd Khazzan tight gas project in 2017 spurred Oman’s gas revolution, with the second phase 500mn cfd Ghazeer play boosting pr...
Volume: 66Issue: 01Published at Fri, 06 Jan 2023 -
Kuwait’s Haitham Al-Ghais Elected Next Opec Secretary General
...rsed in all things Opec and is a veteran oil market analyst. He served as Kuwait’s Opec governor from 2017 until June 2021, since when he has been Deputy Managing Director for International Marketing at state energy firm KPC. All told, Mr Ghais has held a number of senior roles within KPC over the past th...
Volume: 65Issue: 01Published at Fri, 07 Jan 2022 -
Algeria Launches 1GW Solar PV Tender
...hers, these projects are massively delayed. The contractor for Naama, Korea’s Samsung C&T is also working on the 1.45GW Mostaganem CCGT which has now been further pushed back to 2025. When the plant was awarded in 2014 the target for completion was 2017. Spanish contractor Duro Felguera’s 1.26GW Dj...
Volume: 65Issue: 01Published at Fri, 07 Jan 2022 -
Latest Saudi Discoveries Boost Unconventional Outlook
...pacity now stands at 400mn cfd. Meanwhile, at Midyan Aramco commissioned a 75mn cfd gas processing plant in 2017 which supplies local facilities. SAUDI ARABIA: RECENT FINDS & KEY UNCONVENTIONAL BASINS ...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Exxon’s Star Shines Brightest Among Egypt’s Slew Of Mediterranean Awards
...ell (MEES, 24 March 2017). A 2018 paper from Eni’s Zohr discovery team notes that Shell was “targeting the extension of the classic Tertiary clastic play of the Nile Delta, which turned out to be not commercial,” whilst the Zohr find resulted from “something profoundly different… isolated carbonate bu...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Majors Write Off $69bn in Year To Forget
...ainst a long-term horizon rather than prevailing oil prices. 4: MAJORS CAPEX PLANS ($BN): HAVING BOOSTED SPENDING AGGRESSIVELY IN 2017-19, EXXON HAS NOW REVERSED COURSE *LATEST FORECASTS FOR 2020. 2021 PLANS AS PER LATE-NOVEMBER ANNOUNCEMENTS (MID POINT FOR EXXON). SOURCE: COMPANIES, ME...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Saudi Surprises Market With 1mn B/D Production Cut
...nter months. But such leniency was not afforded to Gulf producers such as Iraq and the UAE in the summer when their domestic demand peaked. Russia’s compliance ever since the initial start of Opec+ cuts in January 2017 has been patchy at best, but it is typically afforded a free pass so long as co...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Long-Running Qatar Embargo Ends With GCC Summit Agreement
...Three and a half years after it began, the embargo of Qatar is over as Saudi Arabia and its allies agreed to restore ties. The decision appears based on pragmatic economic calculations, with Saudi Arabia keen to attract foreign investment. But the scars from 2017’s actions mean that full re...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Tethys Spuds Oman Wildcat
...at could become a major exploration push for unconventional resources in the underexplored Omani south. Tethys acquired seismic in the area in 2017 (MEES, 24 November 2017), and received a significant boost in November when US shale powerhouse EOG signed up at the block as a junior partner with a 50% in...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Libya Power Plant Progress
...r four SGT5-PAC 2000E Siemens combustion turbine generator units,” the firm said in a 6 January press release. Enka’s German partner on the projects, Siemens, costed the two plants at a combined €700mn ($826mn) at the time of the original award by state-power firm Gecol in 2017. But construction ha...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Energean: $400mn Israel Buyout
...ivate equity fund Kerogen paid then-cash-strapped Energean $50mn for a 50% stake in its then pre-FID Israel assets back in 2017 (MEES, 17 February 2017). Energean expects the buyout, plans for which were initially announced last month (MEES, 11 December 2020), to close this quarter. Energean al...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Egypt Foreign Reserves Slump $5bn In 2020 Despite 2h Rebound
...*Egypt’s foreign reserves ended 2020 at $40.1bn, the lowest end-year figure since 2017 and down $5.4bn (12%) year-on-year. But it could have been much worse. *As of end May, reserves had collapsed to just $36bn as Covid-19 saw the Arab world’s most populous economy grind to a near ha...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Iraq Books Record Exports In 2019, Plans To Advance Jordan Pipeline In 2020
...s taken center stage, with widespread accusations of corruption against key ministries including the oil ministry. In any case bureaucratic inefficiencies (among other things) have limited government spending particularly on much-needed infrastructure, enabling Baghdad to run budget surpluses in 2017...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Israel’s Leviathan: Deliveries Start, Controversy Remains
...viathan in 2010 but struggled for years to get the sales deals in place to support even Phase-1 development under which output is slated to hit 1.2bn cfd later this year. It finally took FID in 2017. Noble has 39.67%, partnered by Israeli firms Delek (45.33%) and Ratio Oil (15%)....
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Ground-Breaking Mena Power Plants Due Online In 2020
...id as well as to power the mining and processing operations. Estonia’s Eesti Energia is lead developer, but sold part of its stake to China’s coal power plant operator Yudean to secure Chinese financial backing (MEES, 28 April 2017). Much of Kuwait’s recent power capacity expansion has been ad...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Oman: Petrofac Bags PDO Awards
...tegrated oil and sour gas project. At the Mabrouk NE project – one of Oman’s more exciting new developments – Petrofac signed a 10-year framework agreement in 2017 and was awarded a pipeline construction deal there in June (MEES, 14 June 2019). The newest EPC contract covers a 34-month development of 16...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020