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Libya Officials Hail ‘Successful’ Bid Round, As Chevron Returns
...illing campaign in Libya since the 2011 revolution (MEES, 1 November 2024), and announced a new 4,200 b/d oil discovery a year later (MEES, 31 October 2025). “Chevron is excited to enter Libya with the award of onshore Contract Area 106, which underscores our focus on North Africa and the Eastern Me...
Volume: 69Issue: 07Published at Fri, 13 Feb 2026 -
Syria’s SPC Courts IOCs As Re-engagement Accelerates
...west producer next year (MEES, 6 February). Regional experience suggests success is far from guaranteed: Lebanon’s two offshore wells to date have flopped, while Cyprus has yet to bring gas onstream despite discovering Aphrodite 15 years ago in 2011. Speaking to MEES on the sidelines of IE Week, Mr Qa...
Volume: 69Issue: 07Published at Fri, 13 Feb 2026 -
TotalEnergies MENA Portfolio: Building On Growth
...fshore exploration alongside QatarEnergies (see p6). The two are already partners in neighboring Lebanon’s offshore, while TotalEnergies was a major player in Syria prior to the outbreak of civil war in 2011; its net-Syrian output that year was a sizeable 53,000 boe/d of primarily gas (218mn cfd) al...
Volume: 69Issue: 07Published at Fri, 13 Feb 2026 -
Eni Eyes ‘Best Fast-Track Development’ For Cyprus Cronos Find
...scovered more than a decade earlier in 2011, as Cyprus’ first gas development. Chevron (35%op) and its partners Shell (35%) and Israel’s NewMed (30%) have been set a deadline of 31 March to submit “optimizations” to Aphrodite’s 2019 approved field development plan (FDP) after previous modifications were re...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Adnoc & BP Ink Egypt Gas JV With Israel Entry On Hold
...scovered in 2011 and mentioned by BP as a potential development option back in 2019 (MEES, 24 May 2019). $1BN+ DEAL? The companies do not say how much Adnoc will pay for just under half of BP’s share in the six assets beyond that a “proportionate cash contribution” will be earmarked “for fu...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
TotalEnergies Charges Ahead To 2022 Mena Oil Output Record
...ain sailing. Key projects in Syria and Yemen have been offline since 2011 and 2015 respectively amid devastating conflicts there. Net gas output last year was barely half the record 1.46bn cfd set in 2011 (see chart 4). But this hasn’t prevented Total from seeking more projects in the region, al...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Chevron Eying Egypt Tie-In For Cyprus’ Aphrodite
...tober 2020). The US major’s input, expertise and deep pockets could prove to be invaluable if Cyprus’ dreams of developing its first ever discovery, made in 2011, are to be realized. Of course, those dreams don’t all rest on Aphrodite’s shoulders now, with Italian firm Eni and US major ExxonMobil ma...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
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 -
Libya Gas Exports To Italy Restart
...ES, 2 July 2021). A forced closure of the Wafa field by an armed group in the final days of last year also reduced exports (MEES, 24 December 2021). Libya’s gas exports to Italy averaged just 313mn cfd (3.23 bcm) for 2021, the lowest annual figure since 2011 (MEES, 28 January). ...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Spain 2021 Crude Imports: Mideast Share Falls To Multi-Decade Low, Again
...d the region’s 14% market share the lowest on record for the second year in a row. Market share is down from as high as 38% in 2011 and 25% as recently as 2018, as Middle Eastern crude increasingly flows to Asia. *A key factor in this erosion has been the lack of imports from sanctions-hit Ir...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
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
...nistry of oil, it really shouldn’t have. The field was originally to be developed under a 2011 contract by a consortium of Turkey’s TPAO (22.5%op), Korea’s Kogas (15%), and the Kuwait Energy subsidiary of Hong Kong based United Energy Group (UEG 22.5%) alongside state-owned Oil Exploration Company (OEC 25...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Saudi Arabia’s Oil Sector In 2020: Assessing A Tumultuous Year
...mand of 455,000 b/d was the lowest since 2011 and down 17% year-on-year. Demand bottomed out at 231,000 b/d in April amid tight Covid-19 mobility restrictions and while it rebounded to 530,000 b/d in October, it exited the year at 488,000 b/d. The impact on diesel demand was more muted due to the fu...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Spain 2020 Crude Imports: Record Low Mena Share Amid Libya Collapse
...lumes of 181,000 b/d were the lowest on record, whilst the North Africa total of 63,100 b/d was the second lowest after Libya’s revolutionary year of 2011. *Spain’s top two suppliers, Nigeria with 220,000 b/d, and Mexico on 160,000 b/d, were the same as 2019, whilst Libya’s collapse saw Saudi cl...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Stars Align As Exxon Hikes Egypt Commitment
...ock where the major drilled nine wells – and discovered gas in sub-commercial quantities (MEES, 5 May 2008) – before quitting in 2011. Before 2016 Exxon held no upstream stakes in the East Mediterranean but now it holds four blocks; three in Egypt and one in Cyprus. Exxon also, along with French ma...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Pressure Mounts For Deeper Cuts As IEA, Opec Warn Of Demand Concerns
...owth rate since 2011. Opec is pushing for the wider Opec+ alliance to extend the existing production cuts beyond their current end-March expiry to end-2020. It is also advising that Opec+ deepen those cuts by 600,000 b/d in Q2. The IEA’s latest figures certainly strengthen the position of those ca...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Global LNG: Asian Demand In The Balance As Prices Fall To Record Low
...12-14 in the aftermath of the 2011 Fukushima nuclear disaster. The default presumption of most forecasters has been that this trend will continue (MEES, 10 January). That said, the prospect of depressed LNG prices for years to come – and the prospect that sellers such as Qatar may be prepared to agree to...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Oil Blockades Take Their Toll On Libya
...on fall to zero. And for now, the key instigator of the crisis, eastern general Khalifa Haftar, looks unlikely to give in. Libya is deeply divided. It has two rival governments, two central banks and two national oil companies. The chaos following the 2011 overthrow of Muammar Gaddafi has de...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Upstream Investment: Is ‘More For Less’ The New Normal?
...E HIGHEST SINCE 2016 3: SAUDI ARABIA RIG COUNT: JANUARY’S OFFSHORE TOTAL OF 25 IS UP 7 YEAR-ON-YEAR AND JUST ONE OFF THE ALL-TIME HIGH SET IN APRIL 2015 4: MIDDLE EAST RIG COUNT SOARED IN 2011-14 WITH $100/B-PLUS CRUDE AND HAS CONTINUED TO EDGE HIGHER SINCE SO...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Iran Exports: Korea Restart Amid French Euro-Hope
...17 *TURKEY DEC FIGURE is ESTIMATE BASED ON SHIPPING DATA AND REUTERS REPORTS. ^^FRANCE, AUSTRIA INCLUDED IN 'OTHER EU' FOR 2011, 2012. SOURCE: NATIONAL IMPORT STATISTICS, REUTERS, BLOOMBERG, MEES....
Volume: 62Issue: 07Published at Fri, 15 Feb 2019