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  1. Cyprus Gas Ambitions: From Dreams To Reality In 2023?

    ...e border. And with Eni either operating or partnering TotalEnergies on the key blocks on the Cypriot side of the border, it was well placed to look for ‘more Zohr’ in Cyprus. Though the first such well, July 2017’s Onesiphoros on Block 11 (Total 50%op, Eni 50%), only discovered sub-commercial vo...

    Volume: 66
    Issue: 04
    Published at Fri, 27 Jan 2023

  2. Imminent Russian Embargo Set To Boost Middle East-Europe Oil Flows

    ...ve-year average. However, middle distillate inventories only reached 240.2mn barrels in November, 31.9mn barrels below the 2017-2021 average.” Preliminary Euroilstock data shows a modest 800,000-barrel December rise, which would have left middle distillate inventories still well below average le...

    Volume: 66
    Issue: 04
    Published at Fri, 27 Jan 2023

  3. Kuwaiti Government Resigns. Again

    ...quired to ease the government’s reliance on direct oil revenues by tapping into its dollar reserves has been stuck since October 2017. With government ministers objecting to the debt relief bill, and MPs seeking to “grill” two cabinet ministers, the cabinet opted to resign. Prime Minister Sheikh Ah...

    Volume: 66
    Issue: 04
    Published at Fri, 27 Jan 2023

  4. Power Generation Set To Drive Middle East Oil Use Gains

    ...dustrial activity typically rises with economic activity. Consumption averaged 572,000 b/d for the first 11 months of 2022, up 70,000 b/d year-on-year. This is the highest figure since 2017, when the government implemented subsidy reforms to curb consumption and effectively pushed it out from power pl...

    Volume: 66
    Issue: 04
    Published at Fri, 27 Jan 2023

  5. Oman: Block 60 Oil Field Inauguration

    ...0,000 boe/d, and provides a welcome boost to Oman’s overall production capacity. But with renewed Opec+ production cuts in place until the end of the year, Oman will be unable to fully tap into this additional capacity (see p3). Block 60 was first discovered in 2017, with the first crude oil pr...

    Volume: 66
    Issue: 04
    Published at Fri, 27 Jan 2023