- Sort by:
- Score
- Published ▼
-
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 -
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 -
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: 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 -
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 -
Japan Expands Role In Abu Dhabi Upstream
...s target of 750,000 b/d by 2018 (MEES, 11 November 2016). Here Inpex (12%) and Adnoc (60%) are joined by US major ExxonMobil (28%). The contract for Upper Zakum runs until 2041 after being extended in 2014. Crude oil from the three fields is blended to produce the 34° API Upper Zakum grade, wh...
Volume: 60Issue: 03Published at Fri, 20 Jan 2017 -
Shell Heading Towards UAE Door Over Bab Exit?
...tober that the production capacity had been reached. KEY ABU DHABI OIL AND GAS ASSETS ADVANCES AT SHAH BUT GAS SHORTFALL TO STAY The UAE has been unable to meet domestic gas demand through local production. According to BP figures, production totalled 57.8 bcm in 2014, while co...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
Japan Fires Opening Shot In Battle For Adma-Opco Renewal
...lied to the 12% Adma-Opco concession, Jodco also has a 12% stake in the offshore Zadco concession, which in 2014 was extended to 2041 (MEES, 24 January 2014). Security of supply is likely also a prominent consideration. The UAE supplied 870,000 b/d of crude oil and condensate to Japan in the first 10...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
BP Major Contributor To Egypt Five Year Strategy
...cember and has become increasingly reliant on Gulf benefactors to keep its head above water: since President Abdel Fatah al-Sisi came to power in June 2014 it has received around $30bn in aid from Saudi Arabia, the UAE and Kuwait. But the 75% fall in oil prices since mid-2015 and subsequent collapse in th...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
Oman’s Record Annual Output Can’t Mask Revenue Declines
...l exports levels of 844,000 b/d, revenues have nosedived: the $17.41bn figure for 2015 is down by more than 42% on 2014’s $30.1bn (see chart). Oman is therefore slashing government expenditure in the 2016 budget by 11%, including slicing 56% off of its subsidies bill (MEES, 8 January). It has al...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
Saudi Oil Trade Hits New Records – Imports As Well As Exports
...vember – both records – boosting overall products imports to 821,000 b/d, also a record (see graph 2). Refined products demand data suggests 2015 figures will show a new peak. This year’s demand to end-November averages 1.97mn b/d, up on a record 1.86mn b/d for 2014, including a new record of 2.14mn b/d in Ma...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
Korea Crude Imports Hit Record As Iraqi Volumes Double
...sewhere, Iraq, whose exports of sour medium-to-heavy crude are of similar quality to Iranian grades, has been the key country to pick up the slack (see graph 3). Iraqi volumes hit a record 357,000 b/d in 2015, up by a whopping 84% on 2014 and more than double 2010 volumes. Of the 392,000 b/d 2015 in...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016 -
Decision on UAE Onshore Concession Imminent
...l prices continued to decline in the wake of OPEC’s November 2014 decision to maintain its 30mn b/d output target unchanged. ADCO STILL ATTRACTIVE AT $45/B? It remains to be seen, however, whether the commercial terms will now be acceptable to the multinational oil companies under pressure to...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Afren Slashes Kurdish Reserves, Shares Tumble
...oss proven reserves of 190mn barrels and revising mean contingent reserves down to just 250mn barrels from a previous estimate of 1.243bn barrels. The revision is due to the reprocessing in 2014 of 3D seismic shot in 2012. This shows the reservoirs had not performed according to previous ex...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Petroceltic Pares Capex On Lower Prices
...diterranean finds. But there is little cash to kick-off exploration on the two deepwater blocks Petroceltic was awarded in partnership with Italy’s Edison in December 2013 (North Thekah) and September 2014 (North Port Fouad – MEES, 3 October 2014). “The company’s 2015 exploration programme will be re...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Egypt Receivables Down 40%, But $5.4bn Still Owed – MEES Analysis
...anwhile, capex cuts in response to lower oil prices may stymie Cairo’s attempts to boost output. Egyptian state-owned firm EGPC made $2.1bn-worth of payments to international oil companies (IOCs) in the dying days of 2014, reducing the total monies owed to $3.1bn according to its calculations (MEES, 2 Ja...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015 -
Aramco Awards Bring Forward Shaybah 1Mn B/D Target To 2016
...crement Project is part of the ongoing Shaybah NGL Recovery Program mega-development – intended to process 4bn cfd of gas to produce 240,000 b/d of ethane (MEES, 4 June 2012). This includes nine other major contracts that are under way, to be completed by the end of 2014, Aramco says. While the Sh...
Volume: 57Issue: 03Published at Fri, 17 Jan 2014