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IOCs Bullish On Libyan Outlook As Security Situation Improves
...rst post-revolution licensing round, awarding five of 20 oil and gas exploration and development blocks (MEES, 13 February). The licensing round success is the latest indicator that Libya's oil sector is getting back on its feet after years of disruption following the 2011 revolution. IOCs that re...
Volume: 69Issue: 09Published at Fri, 27 Feb 2026 -
Oman Lays Out Plan For 30% Renewables By 2030
...gure closer to 9.2bcm more likely. MEES estimates indicate that gas consumption will peak at around 10bcm in 2027, before dropping by more than 30% to less than 7bcm by 2030, which would make it the lowest since 2011 (see chart 4). Achieving this decline will require a significant improvement in...
Volume: 69Issue: 09Published at Fri, 27 Feb 2026 -
Repsol ‘Optimistic’ As Libya’s Sharara Output Hits Five-Year High
...arly 60,000 b/d before the 2011 revolution but output has averaged 25-30,000 b/d in recent years. LIBYA’S SHARARA CONCESSION: AVERAGE OUTPUT SLUMPED TO 200,000 B/D FOR 2024 ON THE BACK OF LENGTHY OUTAGES (‘000 B/D).... ...BUT NEW DRILLING CONTINUED APACE. REPSOL SAYS CAPACITY LEAPT BY 37,000 B/D OV...
Volume: 68Issue: 09Published at Fri, 28 Feb 2025 -
Mubarak Dies
...Former Egyptian President Hosni Mubarak, who ruled for thirty years but was ousted during the Arab Spring in 2011, passed away on 25 February at the age of 91. Egypt’s longest-serving modern-day president, he spent the following six years between prison and military hospitals as he faced ch...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Iran Taps SWF For $4.8Bn Oil Project Funds
...st one quarter of what it earned in the year starting March 2011, before international sanctions limiting its oil exports came into effect. Including its gifts of crude oil to Syria – estimated at between 50,000 b/d and 70,000 b/d (see p21) – Iran’s crude oil and condensate exports averaged 1....
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Options Narrow As Libya Peace Talks Collapse
...ters to prevent the delivery of weapons to Islamic radicals, and both Libya and Egypt requested that an arms embargo imposed on Libya in 2011 be lifted. Neither request was granted. ARAB INTERVENTION FORCE? Mr Sisi has also called for the creation of a joint Arab military force, and claims that Jo...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Qatar Looks To Adapt Amid Shifting Global LNG Landscape
...rst LNG importer in 2011, with Qatar providing most of the LNG volumes. Qatargas delivered 27 spot cargoes to the 5mn t/y Map Ta Phut LNG receiving terminal which is able to accommodate the giant Qatari Q-Flex vessels. With plans to double the facility’s capacity to 10mn t/y, it will be able to re...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Saudi Arabia 2014 Official Crude & Oil Products Output, Trade & Balance (‘000 B/D)
...Saudi Arabia 2014 Official Crude & Oil Products Output, Trade & Balance (‘000 B/D) 2014 14vs13 2013 2012 2011 2010 De...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
MENA Nuclear Program Expanding, But Some Preliminary Schedules Sliding
...rrors the 1992 agreement under which Bushehr-1 was completed in 2011. The difference is that Iran will provide fuel rods, rather than Rosatom as in the original deal. This could prove controversial as Tehran and international governments negotiate to end sanctions, which were imposed because of concerns th...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Warring South Sudan Factions In Last-Chance Saloon
...0,000 b/d it was producing on average over the second half of last year, but still some 30% below pre-conflict production, and around 51% less than what it was producing in the second half of 2011, immediately after independence from Sudan. And with the country’s oil fields central to the ongoing co...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Gulf Keystone ‘For Sale’ Amid Kurdish Cash-Flow Woes
...LLIONS IN DEBT PILING UP DNO’s Executive Director Bijan Mossavar-Rahmani said in December at a London conference that the Norwegian independent alone was owed more than $1bn by the KRG while debts to Dana Gas, part of the Pearl Consortium developing the Khor Mor gas field, which began producing in 2011...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Syria’s Economic Hardships Intensify With Fuel Shortage
...ude production from the government-controlled areas slumped to 9,325 b/d in 2014, or a mere 2.4% of 385,000 b/d output before the start of uprising in March 2011. Syria’s imports of crude oil in the first nine months of 2014 were estimated at 124,600 b/d, according to The Syria Report. The tiny oi...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Lebanon Launches ‘Largest Ever’ $2.2Bn Eurobond
...oblems, Lebanon finds itself in the eye of the Middle East storm, as it struggles to cope with the influx of some 1.6mn Syrian refugees (both official and unofficial), who have fled their war-torn country since the start of the uprising in early 2011. Yet despite these external shocks, which slowed GD...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
UAE: Bonds Not Needed
...ending plan, first introduced in 2011 with a total outlay of Dh122bn ($33.2bn), was aimed at achieving sustained growth on a longer time horizon (MEES, 1 November 2013). Latest IMF projections expect UAE real GDP growth to remain firm at 4.5% in 2014, unchanged from 2013 (MEES, 7 February)....
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Iran Plays Hardball On Turkey Gas Price
...rkey has since early 2012 been pushing for a revision in the price it pays for gas imports from Iran, going so far as to open an arbitration case against the Islamic Republic earlier this month. As well as the price issue, Ankara is citing unreliable gas supplies during winter 2011-12, and more re...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Asian Buyers Influence Key Oil Benchmarks
...ft a glut of west African crude begging for a home, a situation which would have been exacerbated had fellow light sweet oil producer Libya been producing at normal levels. For South Korea, Forties became attractive after it concluded a Free Trade Agreement with the European Union in 2011, as the grade re...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Egypt: Motivation Behind Government Resignation Unclear
...pitalize on the popular notion that a strong leader is needed to restore order after the chaotic years following the 2011 revolution. Many Egyptians are weary of the uncertainty and economic stagnation that has been the hallmark of the aftermath of the Arab Spring. Keen to be seen as serving the county’s in...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Petrofac Bags $1.2Bn Oman Gas Deal
...12 BCM % 2011 2010 Industry 22.59 21.72 +0.87 4.0 20.17 19.64 Po...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Algeria’s Trade Surplus Slumps
...sustainable path. Whilst Algeria’s current account remains in surplus the IMF estimates the surplus collapsed to a mere 1.1% of GDP for 2013, down from 6% for 2012 and 9.9% for 2011. Reserves At $194bn The country’s reserves have reached $194bn at the end of December 2013, according to the Governor of th...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014 -
Egypt Banks: Moody’s Wary
...yptian banks is unchanged since the beginning of the political turmoil in the country in January 2011. Moody’s said that although Egypt is heading towards elections, the government remains locked in a confrontation with the Muslim Brotherhood, which is backed by ousted president Muhammad Mursi. Mo...
Volume: 57Issue: 09Published at Fri, 28 Feb 2014