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Syria’s SPC Courts IOCs As Re-engagement Accelerates
...ogress was made (MEES, 3 January 2014). A more recent agreement, signed in 2022 was with Kapital LLC, believed to be ultimately owned by former Wagner Group leader Yevgeny Prigozhin. Mr Qablawi told MEES that Chevron would fund new seismic surveys – an investment likely to be required of all IOCs en...
Volume: 69Issue: 07Published at Fri, 13 Feb 2026 -
Baghdad Scrambles To Keep US Sanctions Waivers On Iran Electricity Imports
...mains questionable given substantial damage to the region’s infrastructure when under ISIS control in 2014-16 . Mr Sudani also highlights Iraq’s plans to import electricity via the GCC’s common interconnector and Jordan this summer. Having missed its earlier end-2024 target, the GCC Interconnection Au...
Volume: 68Issue: 07Published at Fri, 14 Feb 2025 -
MEES Interview: Iraq’s Deputy Oil Minister For Refining Affairs Hamid Younes
...eir secondary units – with a total nameplate crude processing capacity of 290,000 b/d. The Shamal (North) refinery was the largest at 150,000 b/d, but like the 70,000 b/d capacity Baiji-1 and similarly sized Baiji-2 was destroyed by the Islamic State terrorist group in 2014 (MEES, 26 September 2014...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Chevron Eying Egypt Tie-In For Cyprus’ Aphrodite
...4bn last year – from selling LNG as gas prices have soared. Shell, which has in the past had its own beef when Cairo reneged on letting it and precursor BG directly export WDDM gas (MEES, 7 February 2014), is not prioritizing Aphrodite development and has left negotiations to Chevron and Cairo, ME...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Qatar’s 2022 Asian LNG Sales: Focus On Key New Term Market China Limits Revenue Gains From Record Spot Prices
...22 this remains well down on the record $44.0bn sales to the same five buyers back in 2014 (see chart 3). Back then Japan was the key buyer and paid an average of almost $18/mn BTU for its 16.1mn tons of Qatari LNG. 1: QATAR’S TOP ASIAN* LNG CUSTOMERS (MN TONS): CHINA SURGED AHEAD FOR 2022 WI...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Baghdad - Erbil Oil Law Deal Stuck In Limbo
...Maliki’s priority appears to be holding the SCF together given the ever-present threat of Mr Sadr. “Maliki cannot risk a Sadr comeback. The Kurds have been financially struggling since 2014 and [to Mr Maliki] it is not the end of the world if they struggle for another year” muses the KRG so...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Abu Dhabi Power Sector’s Gas Needs Dwindle
...ergy plants” (MEES, 20 January). As a result, thermal power plants generated just 71.5TWh in 2022, the lowest annual figure since 2014’s 70.6TWh. Moreover, upgrades to this fleet of power plants means that more electricity can be generated with less gas than in 2014. Gas consumption dropped to an 11...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
India 2022 LNG Imports: Qatar Volumes Surge To 8-Year High For 52% Market Share
...nce 2014. *Unlike the key East Asian markets of Japan, China and South Korea, where Australia has in recent years overtaken Qatar as top supplier, Australia is nowhere in terms of Indian market share with a mere 0.44mn tons (2.1% market share) for 2022. *India paid an average of $16...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Iraq’s Supreme Court Rules Against KRG Oil Independence
...deral budget in February 2014” leading “to a major financial crisis in the region.” Adding that it started exports in March 2014 “in an attempt to secure salaries and public services.” In its litigation, Erbil also had said that Baghdad had agreed to its independent exports by budgeting for the re...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Upstream Gains Drive Taqa Revenue Boost
...venue gains came from Taqa’s smallest segment – the upstream sector. Upstream revenues jumped by 77% year-on-year to $2.02bn as the oil market rapidly recovered from 2020’s Covid-hit lows. Indeed, after dropping to 13-year lows in 2020 they bounced back to hit the $2bn mark for the first time since 2014...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Tunisia Draws Record Power From Algeria In 2021
...WER SUPPLY JUMPS TO ALL TIME HIGH ON RECORD IMPORTS FROM ALGERIA (TWH) *TUNISIA EXPORTED NEGLIGIBLE AMOUNTS TO ALGERIA IN 2011, 2014 AND 2015. IT ALSO EXPORTS POWER TO LIBYA WHICH CAME IN AT 649GWH IN 2020 AND 62GWH IN 2021. SOURCE: STEG, ENERGY MINISTRY, MEES CALCULATIONS. 2: TU...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Qatar Brokers Israel-Gaza Gas Supply Deal
...ywhere near the 140MW of potential capacity (MEES, 30 May 2014). The PA’s Mr Melhem is evidently aware of this. Increasing Israel-to-Gaza power transmission “would imply the construction of a high-voltage line, replacing the existing medium-voltage lines. It would reduce tariffs. We discussed the pr...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Shell & Petronas At Odds Over Egypt Expansion
...indled from 1.2bn cfd in 2012 to around 500mn cfd now. The WDDM slump is the result of a combination of high underlying decline rates, underperforming wells and slashed investment amid soaring receivables in the years following Egypt’s 2011 revolution (MEES, 7 February, 2014). Shell in early 2018 dr...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Iraq Struggles To Find Developers For Mansuriya Gas Field
...%). The consortium halted development of the Diyala province field in 2014 due to Islamic State attacks across the province (MEES, 10 October 2014). Security concerns remained despite the Islamic State being pushed back, and in 2018 Baghdad announced it would develop the field itself (MEES, 3 August 20...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Kuwait/Saudi Neutral Zone: Restart Imminent?
...wn.” The PNZ also contains the offshore Khafji field, which Kuwait and Saudi Arabia also aim to start-up in the coming months. It was producing 220,000 b/d before its 2014 shut-in. ...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Egypt Bags Exxon As Shell Steps Up Commitment
...ill down on 2016’s 588mn cfd. Aside from WDDM, Shell eyes development of BG’s 2012 Harmattan Deep discovery in the shallow water just north of Damietta. Previous BG development plans were shelved amid a pricing dispute (MEES, 1 August 2014). Now Mr Hanter says “We have had very constructive di...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Upstream Investment: Is ‘More For Less’ The New Normal?
...euillac] and his team.” Whilst Total’s capex fell by 35% between 2014’s $26bn and the planned $16-17bn figure for 2019, gains in purchasing power have largely made up for this. “$1 of capex this year, is not [equivalent to] $1 that we spent five years ago… With $1 of capex [today] I can make 30-40% mo...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Heavy Outages Weigh On Seemingly Well-Supplied Market
...kely fall below Algeria at some point in the coming months. Prior to the oil price collapse in late 2014 Venezuela was producing around 2.4mn b/d, but now even positive scenarios have output of its heavy crudes falling below 1mn b/d during 2019. Not only is the US, increasingly strident in seeking to ov...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
IOCs ‘Exclude’ Libya From 2019 Plans
...serves on its Murzuq basin acreage (MEES, 31 January 2014), however, of the six wells planned for 2014 only three were drilled before worsening security saw the canning of not only these three wells but also six further wells slated for 2015 (MEES, 13 March 2015). No wells have been drilled since. Re...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Iraq’s Contentious Politicking Stymies Critical Electricity Ministry Reform
...mpany’s (BGC: South Gas Company 51%, Shell 44%, Mitsubishi 5%) progress on the gas front will help ameliorate fuel supply concerns. Power shortages had long been a perennial problem for Iraq. And then, as Mr Khatteeb notes, the Islamic State insurgency took another 4.5GW off the grid from 2014. Stalled pr...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019