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MENA Attractions: Libya Kicks Off Big Year For The Region’s Upstream
...censing round since 2014, with TotalEnergies and Eni both taking assets (MEES, 20 June 2025). The first licensing round under the new oil law was a success, and Algeria plans to launch a new bid round each year over the next five years. “With our geographic position, we are confident that Algeria will be...
Volume: 69Issue: 05Published at Fri, 30 Jan 2026 -
Services Firms Diversify Away From Volatile Us Shale
...ia’ share of revenue rose to a record 36.3%, above that of North America (just 24.0% for 2020) for the first time in four years (see charts). Mideast & Asia 2020 revenue was 72% of the 2014 peak: North America revenue is down two-thirds and overall revenue down 50% over the same period. Ha...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Sabic Profits Boost From Rising Oil Prices As Horizons Expand With Clariant Buy
...s SR18.40bn ($4.9bn) for 2017, up 4.5% on SR17.61bn ($4.7bn) for 2016. This was the first annual net profits upswing since the crude oil price collapse of 2014 undermined the petrochemicals sector, whose products prices are index-linked to crude. Mr Binyan attributes last year’s increase in net pr...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Oxy Sees Yemen Exit Looming, Continues To Streamline MENA Operations
...perience in Yemen.” Given the exodus of firms from Yemen since 2014 following the outbreak of conflict between Houthi rebels and the Saudi-backed government, this looks highly optimistic, unless it sells to a state-owned company. Oxy is less optimistic that its efforts to pull out of the similarly-co...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016 -
DEA Appoints New Egypt Chief
...dwitz was previously managing director of DEA’s Suez Oil Company (SUCO) JV with Egypt’s state oil firm EGPC from 2006 to 2008. Between 2008 and 2014 he headed DEA’s Libya operations before a brief stint in Turkmenistan and the UK. The firm’s most recent success story is the 200mn cfd Disouq field in th...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016 -
Total Snags Stake In New UAE Onshore Concession
...t timelines have lagged largely because of a shortage of offshore rigs. The former 75-year concession, in which Total, Shell, BP and ExxonMobil each had a 9.5% stake, expired in January 2014. All four were among nine foreign oil companies qualified to bid for a new concession. ExxonMobil, loath to...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Occidental Gets Boost From UAE’s Shah Sour Gas Startup
...rst, and then economics, foiled its plans to sell off part or all of its stakes in Oman and the UAE. “The success of our 2014 capital program should result in Occidental attaining production growth of 6-10% for the full 2015 year, with the Al-Hosn gas joint venture project expected to average 50...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Oil Service Companies Eye Middle East For 2014 Growth
...REGIONAL Oil Service Companies Eye Middle East For 2014 Growth Service firms plan to carry through 2013 Middle East growth into 2014. Three of the largest international oil services companies recently reported 2013 results. Despite two of them being hit by disruptions in...
Volume: 57Issue: 05Published at Fri, 31 Jan 2014