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Neutral Zone Exports Jump To Highest Level Since 2020 Output Restart
...erated by Khafji Joint Operations (KJO) which is a 50:50 venture between Kuwait’s state owned KGOC and Saudi Arabia’s state owned AGOC. KJO halted operations in late 2014 (MEES, 24 October 2014) before restarting in February 2020. Meanwhile the onshore operations are conducted by the 50:50 Wafra Joint Op...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
Saudi Crude Exports To Take Fresh Hit Amid Voluntary Cuts
...fining runs at the height of lockdown. Jodi data up to October shows Saudi refining runs averaging 2.14mn b/d over the first ten months of the year, putting throughputs on course for their lowest year since 2014. Nevertheless, refining runs had recovered to pre-Covid levels by the end of 2020 and so th...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
The US Oil Rig Count’s 2020 Rollercoaster Ride
...FROM 670 AT THE START OF 2020 THE US RIG COUNT SLUMPED TO 172 BY MID AUGUST BUT HAS SINCE ADDED 103 RIGS, 60% OF THESE IN THE PERMIAN... ...DESPITE THIS, THE US END-YEAR OIL RIG COUNT FOR 2020 WAS THE LOWEST IN 14 YEARS AND LESS THAN A FIFTH OF THE 2014 PEAK SOURCE: BA...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Kuwait Parliament Debates Neutral Zone Deal
...ES, 21 July 2008) – offshore output halted in October 2014, with the onshore portion following suit in May 2015 (MEES, 15 May 2015). The most likely outcome is that SAC will relocate its offices to the town of Khafji around 40km down the coast in the Saudi half of the PNZ. This is where offshore vo...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Iraq Rushes To Jumpstart Projects Ahead Of May Election
...hlumberger has contracts to carry out work at multiple fields, and Russian state firm Zarubezhneft is poised to enter the Middle East as a leading contender at Iran’s Shadegan field. The final firm is Chinese private company Geo-Jade Petroleum which entered the upstream business in 2014 when it acquired Ka...
Volume: 61Issue: 02Published at Fri, 12 Jan 2018 -
Iran Prepares To Boost Gas Exports
...is was a significant fall from 2014 when Turkey imported 8.9bcm of Iranian gas out of 9.6bcm total exports. 2016 exports to Turkey look to have fallen slightly to 7.7bcm, presuming the last two months’ numbers are in line with normal seasonal trends. Turkey and Iran have a 10 bcm/year gas sales ag...
Volume: 60Issue: 02Published at Fri, 13 Jan 2017 -
KRG Set For Modest Oil Output Gains After Painful 2016
...December 2013) but a series of flops have kept output at an average of around 2,500 b/d since June 2014 start-up. Production did edge up to 3,100 b/d in the fourth quarter 2016 but it has since fallen back to 3,000 b/d. Production from Zeg-1 is “currently constrained” to 1,500 b/d of 35.5° API cr...
Volume: 60Issue: 02Published at Fri, 13 Jan 2017 -
Iran Inaugurates New South Pars Phases, But Ambitious Targets Look Unrealistic
...reement: actual supplies through the Tabriz-Ankara pipeline were lower at 8.9 bcm in 2014 (MEES, 11 December 2015). Prospects for increased volumes appear slim due to an ongoing pricing dispute, which is currently being considered by the International Court of Arbitration. Iran has an agreement to export 70...
Volume: 59Issue: 02Published at Fri, 15 Jan 2016 -
Oman, Bahrain, Qatar Follow Saudi In Hiking Fuel Prices
...3.7bn ($12.18bn) in 2014, of which oil products accounted for 35% (MEES, 11 December 2015). However, Commerce Minister Yusuf al-‘Ali has said the plan is to rationalize subsidies to improve targeting of needy people. While the political rationale for maintaining high subsidies to placate the po...
Volume: 59Issue: 02Published at Fri, 15 Jan 2016 -
Iraq December Oil Exports Hit Record But At What Price?
...sh-strapped Iraqi government from enjoying the full benefit of its export surge. Including Kurdish production, total Iraqi oil output for December rose to 3.72mn b/d, the highest level since 1979, according to MEES estimates. For 2014 as a whole, output of 3.32mn b/d is also close to record hi...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
KRG Gas: Payments Dispute Stymies Progress
...ergy agreed a sales price for the Miran gas field. The Chemchemal gas field was awarded to Dana Gas and Crescent Petroleum in 2007. But the project is on hold pending resolution of a dispute over contractual terms and ongoing arbitration proceedings (MEES, 31 October 2014). The London Court of In...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
Iraqi Kurdistan: Oil Output Up And Rising
...hieved the Company’s record daily production and crude oil export sales rates from the Shaikan field. 2014 was not without its challenges for the Kurdistan Region and we are proud of what has been achieved against this backdrop, in particular a nearly 300% increase in Shaikan production and export sales si...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
KRG Expects 2014 Refinery Deliveries To Top 108,000 BOE/D
...IRAQ KRG Expects 2014 Refinery Deliveries To Top 108,000 BOE/D Iraq’s Kurdistan Regional Government (KRG) expects total deliveries of oil and gas produced within the region to “main” refineries within Iraqi Kurdistan to average just over 108,000 boe/d for 2014 (almost all of this is oi...
Volume: 58Issue: 02Published at Fri, 09 Jan 2015 -
Iraq Expects West Qurna-2 Start-Up By End-February
...d consortium, is one of two key Iraqi oil field projects that are expected to contribute to the bulk of expected additional production capacity in 2014. Meanwhile, the first phase of export capacity expansion work has been completed, raising southern export capacity to 3mn b/d from 2.7mn b/d pr...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Petroceltic Focuses On North Africa As Investment And Production are Set To Slump
...EGYPT Petroceltic Focuses On North Africa As Investment And Production are Set To Slump Irish independent Petroceltic is anticipating lower production and investment volumes in 2014, as it seeks to move forward on a key Algerian gas project and focuses its spending on Eg...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Morocco Urges Caution On Exploration
...ve further wells on the permit during 2014. These will be identified with the aid of recently completed 3D seismic, Gulfsands says. Drilling is currently underway on minnow Longreach’s Sidi Mokhtar permit. “The exploration process is long, expensive and high risk… it often requires very many we...
Volume: 57Issue: 02Published at Fri, 10 Jan 2014 -
Aramco Eyes Seven-Well Red Sea Drilling Drive
...e on stream in 2014 – are all non-associated offshore gas fields. By contrast, exploration onshore in the Empty Quarter has proved largely disappointing. Aramco’s next onshore gas increment, the 75mn cfd Midyan field, is of considerably more modest proportions. The shift offshore and to non-as...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
UAE Misses 3Mn B/D Crude Target, Set To Become Net Gas Importer
...ergy pipeline, LNG via Dubai, and plans to import 600mn cfd of LNG at Fujairah by 2014, and this is set to increase. At the same time the UAE exports LNG to Japan from Abu Dhabi. According to BP’s Statistical Review of World Energy the UAE has 6 trillion cu ms of proved gas reserves – the se...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013 -
Gas Prices To Double For Omani Industries
...dustrial gas consumers and reached an agreement to amend prices as follows: From $1.50/mn BTU in 2012, it will rise to $2/mn BTU in 2013, and further to $2.50/mn BTU in 2014,” the minister was quoted as saying by the local media. “In 2015, the price of natural gas would be $3/mn BTU, and thereafter it wo...
Volume: 56Issue: 02Published at Fri, 11 Jan 2013