Libya: Mabruk Oil Field Hits 25,000 b/d

...st few years, with oil output finally hitting a record 1.374mn b/d for 2025, the highest figure in 15 years (MEES, 2 January). This comes as IOCs have ramped up drilling activities for the first time since the 2011 revolution, with existing partners reporting stronger performance and a positive ou...

Nuclear, Renewables Drive Abu Dhabi’s Gas-For-Power Demand To Fresh Lows

...u Dhabi and Fujairah increased by 6% last year to a record 108.5TWh. The continued growth in clean-power generation means that Ewec’s gas consumption fell for the seventh consecutive year to 1.67bn cfd, the lowest figure since 2011 (see chart 2). Ewec’s gas consumption is now down 680mn cfd from its 20...

Gazprom Nasiriya Entry: Conciliatory Gesture?

...U with NIOC to develop Azar before being kicked out in 2011 (MEES, 17 October 2011). It’s unclear whether the firm’s work at Badra was indeed informed by Iranian data. The source assesses that Gazprom Neft’s Nasiriya pitch may involve moving some of Badra’s surface processing equipment, for wh...

Libya Gas Exports At 13-Year Low

...Libya’s gas exports, all of which go to Italy via the 8bcm/y (775mn cfd)-capacity Greenstream pipeline, fell to just 137mn m3 (167mn cfd) for February, one of the lowest figures since the massive instability of the revolutionary year of 2011. With the two preceding months also having seen su...

Iraq Poised For 500MW Turkey Power Imports

...nce at least 2019. Ministry plans seen by MEES show two planned links. The first uses an existing 132KV line from Silopi in Turkey to Zakho in Iraqi Kurdistan which was last used in 2011 at an average 5MW. A contract for 150MW of 2021 imports did not go ahead after Turkish energy trader Aksa Aksen as...

Egypt LNG Exports At 9-Year High Amid Seasonal Buying Bonanza

...tween November and February. This is the highest for any comparable four-month winter peak since 37 cargoes were exported between November 2011 and February 2012 (see chart 1). While both of Egypt’s LNG export plants are now back up and running following the February restart of the Eni-operated 5m...

East Med Geopolitical Waters Remain Far From Smooth

...e division of reserves from the 4.1tcf Aphrodite field, which though around 90% lies in Cypriot waters, straddles the countries’ maritime border. Nicosia hopes that this deal will increase the chances of the 2011 discovery by Noble Energy (now Chevron) being developed along the lines of a de...

Opec Output At 17-Year Low Amid Libya Collapse

...pact of port shut-ins was felt. This was partially offset by a 120,000 b/d increase from Iraq to 4.51mn b/d which put Opec’s No.3 producer some 50,000 b/d above its Q1 production allocation. Libyan output has crashed to just 120,000 b/d (see p16), its lowest level since September 2011 in the last da...

Libya Output Lowest Since 2011

...Libya Output Lowest Since 2011 Amid ongoing oil blockades imposed by eastern-based General Khalifa Haftar, Libya’s February crude output at 120,000 b/d came in at its lowest level since the 2011 revolution that overthrew long-time leader Muammar Gaddafi (see chart).  The blockades have re...

Algeria’s Regime Under Threat

...volvement in day-to-day government is negligible. Protests against the regime are nothing new. Algerian citizens took to the streets in early 2011 against a backdrop of regime change in neighboring states. They did so again ahead of presidential elections in April 2014, when protestors chanted ‘Ba...

Total Expands In Libya With Marathon Waha Purchase

...e more prosaic press release announcing the deal. Prior to 2011, Waha had production capacity of 360,000 b/d from a portfolio of fields and exploration acreage spread across Libya’s Sirte Basin oil heartland. Actual 2010 output was somewhat lower, at 280,000 b/d, netting Marathon and fellow 16...

Syria’s Eastern Oil Fields: The Post-War End-Game

...nce 1996 when it neared 600,000 b/d, but natural gas output was on the rise until the war retarded its development. Key gas fields are near Palmyra in the center of the country. Output increased from 870mn cfd in 2010 to 1.05bn cfd in 1Q 2011 with the ramp up of the Hayan gas project (MEES, 14 Se...

Indian LNG Imports 2016: Qatar Still Dominant With 62% Of Total

...    ALL 2016 NUMBERS AND ALL VOLUME NUMBERS ARE FOR CALENDAR YEARS. ANNUAL VALUE/PRICE NUMBERS FOR 2011-15 ARE FOR FINANCIAL YEARS ENDING 31 MARCH (IE ‘2015’ IS APR15-MAR16). *CHANGES EXPRESSED ON A PERCENTAGE POINTS BASIS. SOURCE: INDIAN DEPT OF COMMERCE, IGU, GIIGNL, MEES CALCULATIONS....

IEA Warns Of Capacity Squeeze Unless Investment ‘Rebounds Sharply’

...8% a year in the five years to 2016 and 5.5% a year in the five-year period ending in 2011. A net 1.8mn b/d of Chinese oil demand is forecast to be added to the end of 2022, underpinned by “supportive economic conditions, big increases in petrochemical activity and a voracious appetite to increase ve...

Saudi (Sama) Net Foreign Assets Fall To $524bn In January, Below Sr 2TRN For First Time Since October 2011

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...

Iraq, Nigeria Outages Lead Opec Production Fall

...0 B/D): VOLUMES EDGE UP IN JAN BUT STILL 1.3MN B/D DOWN ON 2011 LEVELS *CRUDE & CONDENSATE SOURCE: OFFICIAL IMPORT STATISTICS, OIL MOVEMENTS, MEES ESTIMATES.   NIGERIAN VOLUMES SET TO STAY LOWER While Iranian production is set to rise further in March, Nigerian output looks set to fa...

Apache Turns To Egypt For Bargain Barrels Amid Capex Cuts

...14 2013 2012 2011 2010 2009     ‘00...

Iran Could Face Major Banking Crisis Post-Sanctions

...til it has taken stock of its available assets. Oil revenue in the 2016-17 budget is projected at $22bn, a mere 18% of Iran’s oil revenue of $119bn in 2011 (MEES, 19 February).  Iran is looking to tap foreign direct investment (FDI) for many of its planned projects in the post-sanctions era. The ne...

A Tale Of Two Libyas As Jihadists Step Up Oil Field Attacks

...wer – essential for water injection – has consistently been a limiting factor on production at the two fields since Libya’s 2011 revolution (MEES, 17 May 2013). The fields had only been briefly back on stream following an attack on the pipeline transporting crude to the 150,000 b/d capacity Hariga te...