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Iran’s South Pars Gas Development Edges Forward
...nganeh visited China for talks in late February, but doesn’t appear to have achieved any notable success. Deja vu given that Iran axed CNPC’s contract for South Azadegan in 2014 due to the firm’s slow progress during the previous round of US sanctions (MEES, 9 May 2014). When Total and CNPC signed up to...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Egypt Oil Output To Fall As Key Producer Apache Slashes Investment
...stain… cashflow” rather than raise output. With fewer rigs and lower capex, Apache plans to drill 40% fewer wells in Egypt this year. For 2019 it plans 70 wells, 30 exploration and 40 development, down from 115 for 2018. This in turn is well down on the 2014 peak of 220. Of 2018 wells, 45 were ex...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
OPEC Output Slumps To Four Year Low
...ghes show that the number of active oil rigs in Iraq jumped to 67 in February, its highest level since August 2014. Of the non-Opec portion of participants, the picture is decidedly mixed. While Oman swiftly moved to hit its target in January, the largest participant, Russia, is lagging behind. Ru...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Algeria’s Regime Under Threat
...en protests against the regime in the past, but none like this one. Bouteflika, in Geneva for what officials describe as a “routine health check,” was unable to present his own campaign papers for the coming election, a reminder of 2014 when he left it to right hand man Abdelmalek Sellal to de...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Can Iraqi Kurdistan’s Bickering Factions Grasp Key Opportunities?
...operation has at least provided the central government with an alternative to its stretched southern export infrastructure. Use of the pipeline will provide an interesting litmus test, as federal Iraqi exports through the pipeline have started and stopped several times since in 2014. In Prime Minister Ad...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Kuwait Eyes Revenue Boost From Clean Fuels Upgrade
...na al-Ahmadi 347,000 b/d. Combined crude processing capacity will be increased by 9% to 801,000 b/d from 736,000 b/d. At the time of the CFP award in 2014 project management contractor Foster Wheeler said that the upgrade would mean fuel oil output with a maximum of 1% sulfur (MEES, 14 February 2014...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Egypt Oil Output Slump To Continue. Import Dependence To Deepen
...17 However, Egypt’s oil demand actually fell for the first time in six years in 2017, to 811,000 b/d from a record 852,000 b/d in 2016 according to data posted to the Riyadh-based Joint Organizations Data Initiative (Jodi). Both the 2017 fall and the sharp rise in 2014, 2015 and 2016 – a cumulative 90...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Total Expands In Libya With Marathon Waha Purchase
....33% partner ConocoPhillips 45,000 b/d each. Hess has 8.16% with Libya’s National Oil Corporation (NOC) the remainder. Though output was shut in for two years from late 2014, it has since rebounded strongly, averaging 210,000 b/d for the last quarter of 2017 and 120,000 b/d for the year as a whole, ne...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Opec’s Falling Production Capacity Strengthens Saudi Control
....49 32.47 32.48 -0.13 32.62 *INCLUDES SHARE OF NEUTRAL ZONE. SOURCE: IEA, MEES. PRODUCTION: LOWER FOR LONGER The decline in oil prices since late 2014 has taken it...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Iraq’s Politicized 2018 Budget Aims To Slash Deficit
...ached this would likely only be implemented in the second half of the year (MEES, 2 March). Iraq is banking on an $8.1bn revenue gain (9.5% in real terms) over 2017’s revised budget expectation as it struggles to rein in the double digit deficits it has routinely posted since 2014’s oil price crash. Oi...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Saudi: Major 2017 Oil Revenue Gains, But Non-Oil Disappoints
...vernment coffers? The kingdom’s latest trade statistics shed light on the issue, showing that oil exports rose in value to a three-year high of $170bn last year. This was a 25% year-on-year gain, although it was still 40% below 2014’s $285bn (not to mention the record $110/B years of 2012 and 20...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Asian LNG Imports Hit Record High In 2016; Global Supply Glut Yet To Come
...p 5’ reached 175.1mn tons in 2016, up 4.7% on 2015’s 167.5mn tons and 1.2% above the previous record of 173mn tons set in 2014. The record came despite Japanese demand falling and that from Korea remaining stagnant in 2016. Buying was supported by nuclear plant outages especially in Korea and st...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
UAE Generators Struggle To Take Their Foot Off The Gas
...ban development. In 2015 Fewa imported a total 12.587TWh of electricity from Abu Dhabi Water and Electricity Company (Adwec). Adwec says the peak import rate was 2.264GW, a 12% increase on 2014’s peak of 2.024GW. Like the other UAE electricity authorities, Fewa is also considering alternatives to ga...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
Opec Output Edges Down But Saudi Wary Of ‘Free Riders’
...c16 Jan17 Dec16 2016 vs 2015 2015 2014 S Arabia* 9....
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
IEA Warns Of Capacity Squeeze Unless Investment ‘Rebounds Sharply’
...% cut in upstream investment over 2014-16 will have to be rapidly reversed if the world is not to face a supply crunch and a spike in prices towards the end of its forecast period. As such the IEA essentially repeats warnings in its inaugural World Energy Investment Report, released last Se...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
UK Pledges Funds For Reconstruction Of Iraq’s IS-Ravaged Areas
...’ish [IS].” Britain is a main partner in the US-led coalition that is currently assisting Iraq to defeat IS, which overran large swathes of Iraq in 2014. Iraqi forces backed by US support are currently battling IS to liberate Iraq’s second city of Mosul in the north of the country. The of...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
Iraqi Kurdistan Seeks Financial Assistance As Oil Revenues Plunge
...cluded $100mn from a new prepayment commitment” but “there was also an amount of $43,200,644 set off by the buyers against 2014/2015 prepayments.” The report also shows the pipeline outage contributed to the KRG falling short of its contractual obligations by 8.2mn barrels in February. Buyer A was sh...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
Japanese Condensate Imports Fall In 2015, But Iranian Volumes Up, Near 50% Of Total* (‘000 B/D)
... 2011 2012 2013 2014 2015 Qatar 154.3 151.7 188 13...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
Algeria Looks To Get Refining Expansion Back On Track With FEED Awards
...geria’s refinery output remains comfortably larger than domestic demand. For 2015, refinery output was 576,000 b/d, down 11.5% from the 651,000 b/d produced in 2014. Demand also slid, but by only 3.4%, from 391,000 b/d in 2014 to 378,000 b/d. While refinery output was nevertheless 198,000 b/d higher th...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
Egypt Eyes 11.6GW Of Coal-Fired Power, Easing Pressure On Gas Supplies
...built near El Hamarawein. An 18-month site study is due for completion in third quarter 2016 (MEES, 14 November 2014). These four coal-fired projects are among a number of proposed Egyptian coal-fired plants, which Cairo has flagged up since a major economic development conference in March 20...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016