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Iraqi Kurdistan Gas Pipeline Boost: Turkey Exports Next?
...reement, Kurdistan was to supply Turkey with an initial 4 bcm/year from 2017, rising to 10 bcm/y by 2020 with the option of increasing to 20 bcm/y (MEES, 17 January 2014). A 2017 agreement for Rosneft to construct a pipeline with up to 30 bcm/y capacity also came to naught. Progress since then has been es...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Tethys Eyes Modest 2022 Rebound As EOG Walks From Block 49
...pex to $91mn for 2022, up from $35.2mn for 2021. Not just is this significantly above last year’s pandemic-hit capex figure, but it is significantly higher than in 2014 before the initial oil price downturn (see chart 2). The capex will be front-loaded. This investment surge is being funded by la...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Libya’s Noc Eyes Algeria Border Fields Potential
...natrach on 10 February signed an MoU in Tripoli that “aims to resume Sonatrach’s activities in Libya in order to fulfill its contractual obligations and begin to develop the discovered fields.” Sonatrach was forced to abandon its exploration activities on the Libyan side of the Algeria-Libya border in 2014...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Libya Back To Square One With Two Prime Ministers
...the political division between 2014 and 2021 when two rival parallel administrations, one based in the east and another (internationally recognized) one based in the west, vied for control of the country. The failure by eastern-based General Khalifa Haftar to take Tripoli by forced during a 20...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Aramco Royalty Rate Set To Soar If Brent Tops $100
...That Saudi Arabia’s finances are benefiting from higher oil prices is a given. But Aramco’s floating royalty rate means that the government stands to profit immeasurably should Brent top $100/B for the first time since September 2014. As oil prices rise well beyond $90/B and near-term pr...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Saudi & Egypt Drilling Activity Picks Up
...udi, Iraq and the UAE had seen drilling at near-record levels prior to the early-2020 ‘Covid’ slump, the Egypt market has been depressed since oil prices headed south in 2014-15. But key oil producer Apache as well as smaller players have signaled an investment rebound on higher prices and improved te...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022