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Baghdad, Erbil Face IOC Revolt As Cash-Crunch Stalls Payments
...e world had entered a new era of lower oil prices, predicting they would not recover to the $110/B level they averaged between 2011 and 2013 in the next few years. “It is very clear Iraq will not be able to deliver the quantum of production growth that is baked into people’s supply assumptions,” th...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Libya Peace Talks Begin But Economy Slides Towards Ruin
...recently as October, production was 900,000 b/d, and output before the 2011 uprising was 1.6mn b/d. Lower oil prices mean that Libya is also earning substantially less for its crude than over the course of last year. The average price of Opec’s basket of crude picked up slightly from $44/B in Ja...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Egypt: Apache Hopes Major Finds Will Stem Falling Output
...e Apollonia formation (MEES, 19 December, 2014). APACHE EGYPT* OUTPUT 2009 2010 2011 2012 2013 2014 Gross Pr...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Total Takes The Long-Term View On Global Lng Markets
...me, some years ago. The aftermath of the Fukushima nuclear disaster in 2011 witnessed a shift between the Atlantic Basin and the Pacific region, especially due to an increase in Japanese imports (with a plateau at 88mn tons/year). A new wave of LNG was contracted and is under finalization in Papua Ne...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Now Or Never For Iran Oil As US Cranks Up The Rhetoric
...wn more than 55% from 2.53mn b/d in 2011, before the sanctions ramped up (MEES, 6 February). Iran and the six world powers of Britain, France, China, Russia, Germany and the US have since last February been locked in talks to turn an interim agreement reached in November 2013 into a comprehensive ac...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Mauritania Exploration: One Step Forward, Two Steps Back
...negal – a likely “commercial discovery” according to Cairn CEO Simon Thornton. PETRONAS TO QUIT? Mauritania currently only has one producing field, Chinguetti, where output has declined precipitously from 75,000 b/d at February 2006 start-up to 7,400 b/d for 2011, 5,800 b/d for 2012, and 5,400 b/d fo...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Egypt’s Economy Begins To Turn The Corner
...EGYPT Egypt’s Economy Begins To Turn The Corner Egypt’s structural and monetary reforms are starting to bear fruit, following four years of political and economic slowdown since the ouster of the Husni Mubarak regime in 2011, the IMF says in its latest Article IV consultation with Eg...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Thailand 2014 Crude Imports: UAE And Saudi Arabia Remain Top Of The Pile But Volumes Fall (‘000 B/D)
...vs07 2014 rank kbd % kbd % 2013 rank 2012 rank 2011 20...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015