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Output At Key Kurdistan Oil Field Could Fall 60% in 2017
...nel 75% op, KRG 25%) and Bina Bawi (Genel 80% op, KRG 20%) gas fields are also suffering further. The operations update strikes a pessimistic stance regarding progress at the fields in 2017. TAQ TAQ RELEGATED TO SECOND TIER In 2014, Taq Taq was the largest producing field in Iraqi Kurdistan – ou...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Libya’s NOC To Lift Investment Moratorium; But Divisions Remain
...TAGE Crude output of 715,000 b/d on 22 January was the highest level since November 2014, according to MEES figures. But this level, up from December’s average figure of 600,000 b/d, didn’t last for long. Output subsequently dropped by about 60,000 b/d due to a fire at a substation supplying power to...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Oman’s Reliance On Chinese Crude Export Markets Deepens
...13 2014 Oil Output 1004 +23 981 1007 -2 +18...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Saudi Ups Power Profits Ahead Of Planned Sell-Off
...s not clear how SEC would fare, given that average customer payments were lower than generating costs. The results for 2016, however, suggest that the company’s finances are now better balanced. SEC’s 57.3% fall in net profits from 2014 to 2015 underlines another problem facing the company, be...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
GE $1.4b Iraq Power Deal
...tual generating capacity. However, the ministry says that Iraqi electricity supply reached a peak of 13.4GW in 2015, up from 12.3GW in 2014. ...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
GCC Drilling Remains Strong Despite Upstream Capex Cuts
...d 48 respectively, according to Baker Hughes figures. The national oil companies (NOCs) in the GCC have capitalized on costs plunging alongside oil prices since the second half of 2014. Contracts have been signed at well below the previous market rate. According to the IEA’s World Energy In...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Iraq: Mosul Offensive Gains Momentum Amid Lingering Failures
...wly-trained army units or those existing prior to 2014 performed well. The bulk of the fighting was performed by the special forces Counter-Terrorism Service (CTS) and Interior Ministry federal police. One new problem, as noted by Yahya al-Kubaysi of the Iraqi Center for Strategic Studies in an in...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Politics Prioritized As Lebanon Advances Bidding Plans
...ismic over its whole offshore, drawing up prospective blocks (though not deciding which to offer), and pre-qualifying firms. But then politics got in the way. In the absence of a president, bidding was repeatedly pushed back (MEES, 4 October 2013) and in the end quietly shelved (MEES, 6 June 2014). Re...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Saudi Petchem Profits Up 8% In 2016, But Sabic Under Pressure
...SR22.95bn ($6.12bn) for 2016, an increase of 8% from 2015’s SR21.25bn ($5.67bn). Nevertheless, their combined net profits were still 33% lower than for 2014, when high crude oil prices supported linked petrochemicals prices until their late-year crash (see table 1 & chart). Likewise, while th...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Sabic Buys Out Shell From Sadaf JV For $820mn
...andoned the plan after the results of a feasibility study “were not encouraging” (MEES, 31 October 2014). They had been considering adding polyol and styrene monomer propylene oxide (SMPO) units to the complex. Shell says the deal marks an early termination of a joint venture agreement that was due to ex...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017 -
Jordan Slashes Planned Deficit By 25% For 2017
...lculus. In 2016 the value of Jordan’s energy imports represented 10% of GDP, down from 18% in 2014, according to Energy Minister Ibrahim Saif. Up till 2011, Jordan mostly relied on imported gas from Egypt. But it has since moved to replace Egyptian gas supplies by LNG imports via a floating storage an...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017