- Sort by:
- Score
- Published ▼
-
Iraq, Nigeria Outages Lead Opec Production Fall
...minently. OPEC WELLHEAD PRODUCTION, FEBRUARY 2016 (MN B/D, MEES ESTIMATES) Feb '16 Jan '16 Feb v Jan vs Feb '15 2015 2014 S Ar...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
Iraq Output Falls From January Record, Double-Counting Confusion Reigns
...bsequently assuming operatorship. ‘Khurmala’ output for 2014 was just 113,000 b/d: as with the recent ‘jump’ in federal output this ‘increase’ is largely, if not wholly, chimeric coming from the takeover of the additional fields. What is not chimeric is that massive investment in southern Iraqi export in...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
BP: Mideast Moves To Center Stage In Cash-Constrained Times
...is strategy. For 2015, BP’s biggest production gain was in Iraq where its share of output more than doubled to 123,000 b/d from 55,000 b/d in 2014. Gross production was up only slightly to 1.3mn b/d at BP’s flagship Rumaila field; the key boost to BP came from the fact that it receives a set fee pa...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
Apache Turns To Egypt For Bargain Barrels Amid Capex Cuts
...are of Apache’s overall capex is set to soar to 23% this year from 16.1% in 2015 and 10.3% in 2014. This marks a sharp reversal for a firm which in recent years had shifted its focus to US shale at the expense of Egypt: the country’s share of Apache capex halved between 2009 and 2014. This came as th...
Volume: 59Issue: 10Published at Fri, 11 Mar 2016 -
A Tale Of Two Libyas As Jihadists Step Up Oil Field Attacks
...quest of NOC after coastal export facilities were blockaded. Production resumed from As Sarah on 22 September 2014, at a rate of about 35,000 b/d, but the field has been shut in since 21 December, when NOC again declared force majeure due to fighting near the export ports and renewed blockades. As Sa...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Oxy Angling For Adco Stake In Gulf Divestment U-Turn
...ould Shell and BP bow out. OCCIDENTAL PETROLEUM: MENA PRODUCTION (NET) 2014 2013 ‘000 b/d mn cfd ‘000 boe/d ‘00...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Oman May Cut Oil Investment If Oil Prices Remain Subdued
...1.52bn ($4bn) in 2015, from OR1.39bn ($3.6bn) in 2014. Oman is targeting crude and condensate output of at least 965,000 b/d in 2015 – eclipsing earlier plans to maintain production at between 950,000 b/d and 960,000 b/d through 2018 (MEES, 23 January) – and a much-needed boost in gas output to meet gr...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Muscat Ponders Sukuk Issue
...se. Among the six GCC member states, Oman and Bahrain are the most vulnerable to weak oil prices, given their relatively feeble financial reserves accumulated during the years of plenty, and their low reserves-to-production ratios (MEES, 12 December 2014). Oman currently holds $19bn in its two so...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Oman’s OPWP Seeks Salalah IWP Advisor, Progressing Other Projects
...pects the plant to begin commercial operation in early 2019. OPWP is Oman’s main buyer of electricity and water. The state utility expects peak water demand in Dhofar governorate’s main towns of Salalah, Taqa and Mirbat to rise from 82,000 cmd in 2014 to 132,000 cmd in 2020. However, the existing Sa...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Iraqi Oil Sector Loses Its Appeal As Debts Mount
...velopment costs. It owes IOCs $9bn for 2014 and will need to find $18bn more for 2015. Iraq’s official crude exports rose to 2.60mn b/d in February, the second highest figure in two years after December’s post-1979 record of 2.94mn b/d. The rise came despite a more than 100,000 b/d decline in sh...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Indian ‘Compliance’ Beginning To Hit Iran Oil Sales
...rea reduced purchases from December 2014 levels. And with Indian refiners under intense government pressure to cut their intakes of Iranian crude over the coming months to present – at least symbolically – an effort to comply with US sanctions on Iranian crude oil exports, this is a downward trend one ca...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Rabigh Shutdown To Curb Saudi Refining Surge
...pply from Rabigh 2 will feed a number of new derivatives units providing a total 2mn t/y of high value chemicals and aromatics (MEES, 14 March 2014). “Each plant will be brought onstream as it becomes available for operation, with first product expected in the first half of 2016,” says Petro Rabigh....
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Jazan IGCC Comes Into Focus As Saudis Streamline Their Power Options
...mprise five 800MW combined cycle gas turbine (CCGT) units. Yet Spain’s Tecnicas Reunidas, on being awarded the Jazan IGCC utilities and off-site facilities in May 2014, cited the 2.4GW figure and also said the gasification unit would produce 50.64mn cmd of syngas. Shortly afterwards Italy’s Saipem wa...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Saudi Arabia Takes Lesson From History
...tures prices, which traded at a 2014 high of $115/B in June, had shed 30% when OPEC met in November. The market took a further dive after the shock OPEC decision to maintain its output ceiling at 30mn b/d, despite forecasts of a sharply lower demand for its oil in 2015. Brent fell below $50/B in Ja...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
BP: Mixed Signals On Algeria
...ALGERIA BP: Mixed Signals On Algeria BP, in its 2014 Annual Report, released this week, lists Algeria’s In Salah south project as one of the firm’s four key projects worldwide to start-up this year. Though nominally slated to maintain In Salah output at 9 bcm/year (870mn cfd), BP has al...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
For KRG All Roads Lead To Turkey
...e KRG began to export oil through Ceyhan with Ankara’s blessing, but without Iraqi federal approval. The KRG, still strapped for cash even after a December 2014 deal with Baghdad over oil exports and revenues, has secured a number of loans from Turkish state banks. Turkish private investors and st...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Dea Looks To Expand With $10Bn War Chest
...st year amid deteriorating EU-Russia relations, despite the fact that neither Mr Fridman nor other L1 partners were on a list of sanctioned individuals (MEES, 29 August 2014). Mr Fridman plans to use L1 as an investment vehicle in the energy and telecommunication sectors. His Alpha Group was BP’s Ru...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
BP Still Owed $2.3Bn In Egypt
...an the 14% average fall in international oil companies’ (IOCs) Egyptian receivables during 2014 (see table). Total IOC dues, at $5.44bn, are down by almost $900mn from $6.3bn a year earlier, and a peak of over $8bn in mid-2014. Egypt itself gives a lower figure of $3.1bn for total receivables (on...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Egypt Seeks Growth At Sharm El-Shaikh Conference
...stability following the February 2011 ouster of Husni Mubarak. Foreign direct investment has yet to recover. Egypt will use the conference to showcase its “Sustainable Development Strategy 2030” as well as its 2014-19 economic and social reform plan, which includes new legislation to attract investors to...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Jordan Slashes Spending In Bid To Halve Deficit
...e deficit forecast in the 2015 budget is some 49% lower in nominal terms than the 2014 budget figure of JD911mn ($1,284mn). Jordan’s finance ministry says the actual deficit was JD900mn ($1,269mn) for January-November 2014. The reduction in the deficit results from a cut of JD220mn ($31...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015