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Iraq Starts Work On Rehabilitating Turkey Export Pipeline
...Iraq’s State Company for Oil Projects (SCOP) said on 12 February that it had begun rehabilitating the federal portion of the Iraq-Turkey Pipeline (ITP). The old 1.6mn b/d pipeline suffered extensive damage in 2014 when the Islamic State took over large areas of northern Iraq. It extends from Sa...
Volume: 69Issue: 08Published at Fri, 20 Feb 2026 -
Chevron Eyes Long Term Gains From Saudi-Kuwait Neutral Zone
...rm opportunities that are captured and can become very attractive.” NEUTRAL ZONE REBOUND Production in the PNZ was fully shut-in from May 2015 until February 2020, with the offshore Khafji field taken offline in October 2014 followed by the onshore Wafra field in May 2015. On th...
Volume: 68Issue: 08Published at Fri, 21 Feb 2025 -
Egypt Upstream Output Set To Fall Further In 2024 As Zohr Slump Continues
...ames the underperformance on an inability to secure sufficient workover rigs. This saw activity fall behind the firm’s plans, with output further hit by “early-life ESP failures in new high-rate wells.” Apache’s rig count averaged 17 last year, the highest since 2014. Apache is guiding for 13-15 rigs th...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
QatarEnergy To Take Over LNG Marketing Role
...naging Director (subsequently CEO) in 2014 (MEES, 19 September 2014). Mr Kaabi’s tenure has been characterized by three primary tenets – aggressive expansion, streamlining of operations and squeezing IOC partners. This latest initiative arguably facilitates all three and underlines the extent to wh...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Saudi Efforts To Cut Oil Burn Take Backwards Step In 2022
...atistics (see p19 for full data) show a counter-seasonal increase in oil burn (crude and fuel oil) to 1.083mn b/d in December. This marked the second consecutive monthly rise, with December’s burn the highest on record for the month (see chart 2). The previous December record of 1.021mn b/d was set in 2014...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Saudi Arabia’s Oil Export Revenues Jump To Three Year High
...art 1), while the $64.2bn Q4 figure was the highest for any quarter since prices first collapsed in late 2014. The increase came despite Saudi Arabia’s crude oil production dipping by 100,000 b/d to an 11-year low of 9.12mn b/d for 2021, with gross oil exports in turn dropping to an 11-year low 7.56mn b/d ac...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Opec Basket Tops $100/B
...The Opec Basket of crude export grades hit $101.22/B on 24 February, up $5/B on a day earlier as Russia invaded Ukraine and $23/B up on the start of 2022. This marks the first time over $100/B in over seven years – since 1 September 2014. The basket opened up a gap on Brent, which settled at $99...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Israel & Egypt’s Blossoming Energy Relationship
...ck in 2014 signed Letters of Intent to pipe Leviathan gas to Idku (MEES, 4 July 2014) and Tamar gas to Damietta (MEES, 9 May 2014). Tying back Leviathan to one of the existing-but-underutilized Egyptian LNG plants always made sense economically. The estimated cost of $3bn, including four ad...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Saudi Energy Minister Makes Gas Export Pledge
...tension for assisting Aramco design strategies to “produce and deliver significant volumes of gas from shale and tight gas reservoirs.” The initial contract award was made in 2014. Mr Nasser said last year that Aramco would advance the planned Jafurah processing plant in 2020, which will form the key pl...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Algeria Posts 5th Straight Trade Deficit
...$6.11bn for 2019 (see chart). Oil and gas revenues are down 15% at $33.24bn – half levels consistently reached before the 2014 oil price crash and a substantially larger slump than the 9% fall to $64.5/B in the price of Algeria’s Saharan Blend crude. This reflects the fact that gas prices have been un...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Iraq: Gas Aims Progressing, But Miles Still To Go
...fining in a ministry shakeup (see p18). That Baghdad had previously targeted 2015 (MEES, 28 February 2014) for eliminating flaring is emblematic of the scale of the problem. A quick glance at the numbers shows the extent of the challenge. 1: IRAQ GAS OUTPUT EXCEEDS 3BN CFD IN SECOND HALF OF 2018, BU...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Saudi Reaps Rewards Of Downstream Investment
...erall trade surplus over the first 11 months of last year was $149.4bn, already $62bn more than over the whole of 2017. The full-year 2018 trade surplus will likely fall just shy of 2014’s $168.6bn. LOOKING AHEAD Saudi Arabia has cut production more deeply than mandated under the terms of...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Saudi Renewables Plan: More Answers, More Questions
...e new loan takes SEC’s total lending to $47bn since July 2007. It is also SEC’s largest loan from the finance market, although the company’s biggest loan to date was a $13.2bn ‘soft loan’ from the Ministry of Finance in March 2014. SEC’s previous agreement was a $2.15bn revolving credit facility ai...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Iraq Looks To Turkey For Support Up North
...rkuk after abandoning its commitment to conduct a technical study of the fields when the Islamic State threatened operations in 2014 (MEES, 19 January). Mr Luaibi characterized BP’s return as part of an “ambitious plan” to raise output to 750,000 b/d but at present a dearth of export options will st...
Volume: 61Issue: 08Published at Fri, 23 Feb 2018 -
Saudi Aramco IPO Plans Progressing But Key Challenges Lie Ahead
...$2-3 trillion, implying that a 5% listing could raise $100-150bn, dwarfing the $25bn secured by Chinese internet retailer Alibaba in the world’s largest IPO in 2014 (MEES, 11 November 2016). NEW YORK, RIYADH &… Key to the IPO’s success will be the location of the listing, and there have be...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Abu Dhabi Finalizes Onshore Concession With Chinese Partnership
...anayel, along with one field under development - Jumaylah. Projects are underway to increase NEB output to around 230,000 b/d. In 2014, Italy’s Maire Tecnimont was awarded a $2.25bn EPC contract to boost Al Dabb’iya output to 145,000 b/d by 2018 and the project is still underway. South Korea’s GS En...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Kuwait: Subsidy Row Presages Return To Disruption As Usual
...s poor performance on another project. This is the construction of a 100,000 b/d gathering center (GC-31) for Kuwait’s northern fields. The KD250mn ($810mn) contract was awarded in July 2014 – Petrofac and India’s Larsen and Toubro were awarded two other gathering centers – with a planned completion of...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
LNG: Growing Mideast Demand Key To Absorbing Rising Global Supply
...T) *ALL FROM TRINIDAD & TOBAGO SINCE 2014. SOURCE: CEDIGAZ LNG SERVICE, GIIGNL, SHELL, MEES CALCULATIONS. EGYPT IS TOP MENA BUYER: VOLUMES MORE THAN DOUBLED TO 6.3MN TONS, 60% FROM QATAR KUWAIT IMPORTS: QATAR SUPPLIED JUST OVER HALF 2016 VOLUMES BY SUPPLIER: QA...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Algeria Eyes Refinery Bidders As Gasoline, Diesel Consumption Dips
...7,000 b/d of crude in 2016, according to official data provided to Jodi. This is the same volume as for 2015 and 2.7% down from peak throughput of 593,000 b/d in 2014. While Algeria’s total products consumption – which fell 2.2% to 403,000 b/d in 2016 from a record 412,000 b/d in 2015 – is significantly be...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Baghdad-Erbil Refining Deal Signals Pragmatism Winning Out
...G). Mr Luaibi says the agreement will allow the production of badly needed fuels for the Nineveh, Kirkuk and Diyala provinces. These include areas liberated from Islamic State (IS) jihadists. Iraq has suffered acute products shortages since IS badly damaged the 310,000 b/d Baiji refinery in June 2014. Ba...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017