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Iraq’s Crude Export Revenues Surge To 10-Year High
...aqi crude was selling at $105/B, while in January the figure was $83.25/B. This was the first month since October 2014 that Iraqi crude has retailed at more than $80/B. February has gotten off to a strong start with oil prices high, and Iraq will be looking to push export volumes up amid the easing Op...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Calvalley Shuts Yemen’s Block 9 Over Security Concerns
...p). Calvalley last year said output from Block 9 was averaging 6,700 b/d, a slight increase from 2013 pre-conflict output of 6,000 b/d (MEES, 7 February 2014). Having declaring force majeure in 2015 (MEES, 23 January 2015) the firm resumed operations in July 2019 and spent $35-45mn on rehabilitating ke...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Algeria’s 1mn B/D Challenge
...present a substantial decrease on previous programs. But if spent right, this need not be a bad thing (MEES, 15 January 2021). Surging oil prices will provide some comfort – Brent hit $90/B for the first time since 2014 last week – but it is important this doesn’t spark a return to wasteful spending pr...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Qatar Export Revenues Surge To Seven Year High
...venues jumped to a seven-year high in 2021. The $87.2bn that Qatar’s exports brought in last year was the highest figure since the $100+/B days of 2014 (see chart 1), and the ongoing global gas crunch ensures that 2022 will get off to a strong start. Indeed, with Qatar exporting a near record 7.35mn to...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Saudi Arabia’s Sabic Hails Exceptional 2021
...Sabic recorded earnings of $6.14bn for 2021, the highest since 2014. While Sabic may boost revenues in 2022, the firm expects profits to dip from last year’s “exceptional” highs due to rising feedstock prices. Saudi petchems giant Sabic raked in its highest profits in seven years for 2021 as...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Gazprom & Sonatrach Greenlight Algeria Gas Project
...The international upstream arm of Russia’s Gazprom and Algerian state oil firm Sonatrach this week greenlighted a project to develop two gas fields in Algeria’s Berkine Basin. The project centres around the 2010 Rhourde Sayah and 2014 Rhourde Sayah North discoveries located on the El As...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022