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Accusations Fly Over South Sudan Oil Field Attack
...rrent oil output was left unaffected, as the fields in Pariang – along with the remaining fields in Unity state – have been offline since coming under sustained attack by rebel forces in December 2013 (MEES, 3 January 2014). Operating consortia Greater Pioneer Operating Company (GPOC - Blocks 1 and 4) an...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Oman Bid Round Results By End-February
...ltanate. Both Blocks 18 and 59 were offered as part of an earlier round in November 2012 without attracting any serious interest. But following some recent discoveries in nearby acreage, the MOG decided to rebid them once again in July 2014, but to no avail. “Offshore there isn’t much promise. We di...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Is Morocco’s Offshore Boom Over Before It Began?
...penditure plans. Pricey frontier exploration is typically the first thing to go, given that at current oil prices even a big deepwater discovery could prove uneconomic to develop. 2014 DRILLING 2014 was billed as a key year for the country’s hopes of becoming a major oil and gas player, however of th...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Shell LNG To Jordan Expected In July
...lumes of as high as 590mn cfd (MEES, 19 December 2014). The FSRU receiving terminal is being built by the Bermuda-registered Golar LNG, which had previously said that the Golar Eskimo FSRU would be completed by the end of 2014 and enter into service in early 2015. Golar was awarded the $445mn co...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Oman Awards Ras Markaz Crude Terminal FEED
...ES, 12 July 2013). The Ministry of Oil and Gas (MOG) expects crude and condensate production to average 965,000 b/d this year, an increase of 22,000 b/d over 2013 output, which was itself a 13-year high (MEES, 23 January). Oman’s crude oil exports averaged 800,000 b/d in 2014, according to latest MO...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
EGPC Outlay On Refinery Upgrades To Top $17Bn
...raight-run Cairo Oil Refining Company (CORC) refinery, will process 107,200 b/d of residue from CORC to give lighter products including 46,300 b/d of diesel, 12,800 b/d of jet fuel, 7,600 b/d of naphtha and 2,500 b/d of LPG (MEES, 25 April 2014). Deliveries of equipment are due to begin in August. Tw...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Dubai Picks ACWA For Solar Expansion, Plans 200MW
...October 2013). The ACWA-led consortium was one of 10 selected by DEWA to bid for the project (MEES, 28 November 2014). Mr Tayir says the selection of ACWA and TSK was based on their “lowest recorded bid received for a solar PV IPP project” – 200MW capacity with a levelized cost of energy of $0....
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
No Shift In Saudi Oil Policy, But A Slight Change In Tone
...mp up to full capacity of the Satorp and Yasref refineries, which together have a combined capacity of 800,000 b/d. At the same time, non-OPEC supply, which grew by 1.5mn b/d on an annualized basis in the fourth quarter of 2014, will continue to rise, Jadwa says, with an expected year-on-year in...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Aramco Doubles S-Oil Equity As Part of Asian Push
...trochemicals capacity – 1.7mn ton/year of paraxylene and 450,000 t/y of benzene produced from naphtha feedstock – matches Aramco’s increasing overlapping of refining and petrochemicals business (MEES, 4 July 2014). The Saudi state energy giant is developing 6mn t/y of specialty petrochemicals capacity at tw...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
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 -
Syria’s Economic Woes Only Set To Intensify
...oduction in the government-controlled areas in 2014 slumped to 9,329 b/d, the Syrian Minister of Petroleum and Mineral Resources Sulaiman al-‘Abbas announced this week. This output is a mere 2.4% of average production of 385,000 b/d before the start of the uprising in March 2011 (MEES, 8 August 2011). In th...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Lebanon Plans $1Bn Eurobond
...w debt. But latest official statistics show that the budget deficit up to September 2014 fell to $2.23bn, or 21.93% of spending, compared to $3.31bn, or 31.89% of expenditure, in the corresponding period of 2013. A rise in tax revenues and receivables from treasury operations in the first nine mo...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Kuwait Slashes 2015-16 Budget Expenditure, With Oil Revenue Down 46%
...sterity and rationalization of expenditure, in the wake of the 55%-plus plunge in oil prices since June 2014. But despite the resulting fall in oil revenues, this budget is development-oriented, Finance Minister Anas al-Salih said in a press conference this week, and puts a special emphasis on education, he...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Stand-Off In San’a: Yemen’s Crisis Worries The World
...unterterrorism problem. Action against Al-Qa’ida in the Arabian Peninsula (AQAP) targets has continued - three died in a 27 January drone strike. In September 2014, President Obama prematurely credited Yemen as being a successful example of US counterterrorism strategy. The Yemeni links to the terrorist attacks in...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 29-Jan 19-23 Jan 12-16 Jan Dec-14 Nov-14 Q4 2014 Q3 2014 2014...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
US NGLS OUTPUT HITS ALL-TIME HIGH OF 3.175MN B/D IN DECEMBER, GROWS 540,000 B/D DURING 2014 BUT GROWTH SLOWS TOWARDS END-YEAR (MN B/D)
...US NGLS OUTPUT HITS ALL-TIME HIGH OF 3.175MN B/D IN DECEMBER, GROWS 540,000 B/D DURING 2014 BUT GROWTH SLOWS TOWARDS END-YEAR (MN B/D)...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015