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Maliki to Return as Iraqi PM?
...ndidate. Nouri al-Maliki has emerged as the frontrunner for Iraq’s premiership, potentially returning to a post he held between 2006 and 2014 (see table). Mr Maliki headed the country’s first permanent government after the 2003 US invasion and remains the only politician to have served two terms as prime mi...
Volume: 69Issue: 03Published at Fri, 16 Jan 2026 -
Eni/Kogas Quit Cyprus Blocks As Development Plans Awaited
...years. Eni, which originally had 80% stakes, drilled two dry wells on Block 9 (Onasagoras 2014, Amathusa 2015). But plans for an initial Block 3 well in February 2018 were scuttled as Turkish warships obstructed drilling (MEES, 16 February 2018). French major TotalEnergies farmed-in to the ac...
Volume: 68Issue: 03Published at Fri, 17 Jan 2025 -
Libya’s ‘Road To 2mn b/d’ Faces Infrastructure Logjam
...Total’s 30,000 b/d Mabruk field which has been offline since being overrun by Islamic State-affiliated militants in 2014 (MEES, 6 March 2015). Though the previous 2023 restart target has been missed (MEES, 31 March 2023), Total’s Pouget listed restart here as a near-term aim. NOC LEADS NEW DE...
Volume: 67Issue: 03Published at Fri, 19 Jan 2024 -
South Korea: Record LNG Import Bill As Australia Overtakes Qatar
...$21.48/mn BTU for its 2022 LNG imports, including a monthly record $29.19/mn BTU in September, it should come as no surprise that the country’s overall import bill smashed previous highs: at a cool $50bn it was twice the 2021 figure and almost $19bn above the previous record of $31.4bn set in 2014...
Volume: 66Issue: 03Published at Fri, 20 Jan 2023 -
Kurdistan Oil At Center Of Iraq Budget Disputes
...tlines a mechanism for KRG debt repayment by the federal government whereby Erbil is expected to share data on its external debts and loans accumulated in 2014-2019 with the Ministry of Finance 30 days upon approving the budget by parliament. Ninety days later, a joint committee that includes Iraq’s state au...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Algeria Sees $10.6bn 2020 Trade Deficit With Revenues At 18-Year Low
...aded south in late 2014 (see chart 1). Other oil exporters were forced to adopt emergency measures when the Covid-19 pandemic saw prices and demand collapse in March last year. But Algeria has never come close to exiting crisis mode since 2014. Even then, on the back of three years of blowout sp...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Iraq Awards New Refinery At Nasiriya - ref
...stribution and marketing sectors are wholly state-owned and end-user prices are heavily subsidized. Investors are therefore only attracted to refining projects targeting export markets. Iraq’s oil ministry has however made some progress in restoring norther refining capacity taken out by Islamic State in 2014...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Adnoc CEO Confident On 2020 Vision
...0,000 b/d of spare capacity, and if the Opec+ deal is extended to the end of the year at current levels, this could exit 2020 at 1mn b/d – a whopping 25% of total capacity. Opec’s leadership frequently bemoans the lack of industry investment since the 2014 oil-price downturn, warning that this could yet le...
Volume: 63Issue: 03Published at Fri, 17 Jan 2020 -
2019 Sees Middle East Drilling Records
...e key faller in the GCC was Kuwait where political holdups have stymied attempts to advance upstream projects (see p20 and MEES, 20 December 2019). Kuwait’s rig count fell by five to an average of 46 for 2019, with oil rigs falling to 34, the lowest since 2014 and gas rigs down to 11, a three-year lo...
Volume: 63Issue: 03Published at Fri, 17 Jan 2020 -
Oman At The Crossroads As New Sultan Takes The Reins
...owing to a record $39.4bn in 2014. At the time, all was well and good: $100/B+ oil filled state coffers, covering additional spending and keeping Oman’s public debt in check (see chart). But once implemented, government handouts are politically difficult to stop. And when oil prices crashed in la...
Volume: 63Issue: 03Published at Fri, 17 Jan 2020 -
Kuwait Budgets For Mega Deficit In 2020-21
...w debt law. It has therefore had to tap the General Reserve Fund to fund the deficit Kuwaiti debt rose significantly prior to 2017, up from 3.4% of GDP in 2014 to 20.7% of GDP in 2017 according to the IMF. It has since dropped due to the inability to issue debt, with the IMF projecting it was 17...
Volume: 63Issue: 03Published at Fri, 17 Jan 2020 -
Oman: Oil Revenues Rebound Despite Slide In Exports
...at the refineries were running flat out with runs of at least 300,000 b/d. *Despite lower crude and condensate export volumes the near-$20/B rise in average crude prices to just shy of $70/B for 2018 meant that Oman bagged $20.1bn in export revenue, the highest figure since 2014 (see ch...
Volume: 62Issue: 03Published at Fri, 18 Jan 2019 -
Aramco’s Sabic Takeover: Are Assets Compatible?
...s been variable in recent years. Sabic took a hit in 2014 when oil prices collapsed, since petchems sales prices are index linked to crude prices. Since then, however, Sabic’s market capitalization has recovered in line with rising crude prices. Sabic’s end-2018 market capitalization was $92.96bn, im...
Volume: 62Issue: 03Published at Fri, 18 Jan 2019 -
Kuwait: Jurassic Gas To Bridge Supply Gap Until LNG Import Capacity Rises
...epened its dependency on imports. LNG has been imported via the 7.5bcm/year (725mn cfd) Golar Igloo floating storage and regasification unit (FSRU) since 2014. In 2017, there were no imports in January and February, but volumes ramped up through the year, peaking at 730mn cfd in July and September. In...
Volume: 61Issue: 03Published at Fri, 19 Jan 2018 -
Oman Casts Its Net Wide In Bid To Maintain Output Capacity
...vember 2017). Iranian Gas Anytime Soon? Signed in 2014 and originally slated for 2018 start-up (MEES, 25 September 2015), the oft-delayed Iran-Oman gas pipeline still looks unlikely to get moving anytime soon. Nonetheless, the CEO of the National Iranian Gas Company (NIGC) announced this we...
Volume: 61Issue: 03Published at Fri, 19 Jan 2018 -
Suez Canal Boosted By Oil Trade Records
...• 2017 was a standout year for the Suez Canal, with record oil shipments both northbound and southbound. Revenues, at $5.276bn, were second only to the record $5.465bn hit in 2014. • Northbound oil shipments – essentially those from Gulf countries to Europe and the Americas – remain mo...
Volume: 61Issue: 03Published at Fri, 19 Jan 2018 -
Israel-Jordan Spat Threatens Already Precarious Cooperation
...ivately-owned Arab Potash plant at the southern end of the Dead Sea has been taking gas from Israel’s Tamar field (also operated by Noble) since Q1 2017 under a 1.9bcm, 15-year deal inked in 2014. On an economic level the Leviathan deal looks to be a boon for Israel and Jordan alike. Israel has st...
Volume: 61Issue: 03Published at Fri, 19 Jan 2018 -
Libya Refinery ‘Resolution’ Fails To Hide Need For Multi-$bn Investment
...27mn b/d. But since then volumes have been unstable. Since 2014, when output averaged just 465,000 b/d and exports around 350,000 b/d, most crude has been sold to trading firms such as Glencore (MEES, 10 February 2017) which has been prepared to run the risk of delayed and irregular cargoes – and pr...
Volume: 61Issue: 03Published at Fri, 19 Jan 2018 -
‘The New Tunisia’: A Work In Progress
...wn in recent days. Revenue from tourism has collapsed as instability has increased post-revolution. Foreign investment has nosedived. As a net energy importer, Tunisia should in theory have benefited from the fall in oil and gas prices from late 2014. However the collapse in the country’s own pr...
Volume: 61Issue: 03Published at Fri, 19 Jan 2018 -
BP Back On At Kirkuk
...vember 2013), but northern Iraq exploded with violence soon thereafter. Kurdish forces took the Kirkuk oil fields in June 2014 when Iraqi fighters retreated ahead of Islamic State (IS). Kurdish forces held off IS and began production from the fields about 280,000 b/d from the Kirkuk field’s Avana Dome an...
Volume: 61Issue: 03Published at Fri, 19 Jan 2018