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Shell Boosts Egypt Gas Output, Retains LNG Force Majeure
...llapse (see chart). Shell long stalled on new investment in Egypt due to a dispute over monies owed by state firm EGPC and the diversion of its gas output from LNG exports to the domestic market (MEES, 31 January 2014). But early last year it reversed course and sanctioned the 10-well Phase 9B de...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Kuwait: IEA Pessimistic
...2024 at least. Stagnation is at least still better than the IEA’s pre-2016 projections when it routinely expected Kuwaiti capacity to trend downwards. In 2014, the organization said that due to political opposition to IOCs operating in the upstream sector, “capacity looks set to decline by 41...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
US Shale: Major Growth Planned, Indies Crimp Spending
...ird fewer rigs (six versus nine) in the oil-focused Midland and Delaware basins. Already for Q4 2018, Apache, with 98,600 b/d oil output, topped 2014’s previous high but with just a fifth of the 42 rigs the company was running in late-2014 (see chart). But whilst output per rig is up massively, th...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
OPEC Faces Prospect Of Declining Global Clout
...e market to cut prices following the November 2014 meeting (MEES, 5 December 2014), Opec changed tack in November 2016 and agreed to cut output (MEES, 2 December 2016). The move initially paid dividends for Opec, which saw demand for its crude rise from 31.9mn b/d in 2016 to 32.6mn b/d in 2017 ac...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Saudi Arabia’s Oil-Fired Power Conundrum
...d jumped from 56.6GW in 2014 to 62.0GW in 2015, but has since fallen thanks to the kingdom’s efforts. As well as electricity consumption declining, increased gas supplies have helped displace liquids from power plants. The Wasit gas plant started up in 2016 and processes 2.5bn cfd raw gas into 1....
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Lebanon Power Overhaul Gathers Pace
...e map) was supposed to be the main driver. Work on ‘Deir Ammar-2’ restarted last year after the energy ministry and contracting firm J&P Avax renegotiated a previous $435mn EPC deal into a 20-year BOT agreement, thus settling a scandalous multi-million-dollar arbitration dispute dating back to 2014. Bu...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019