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Basrah Gas Proposals Risk Undermining TotalEnergies Megadeal
...d Zubair fields which were awarded in Iraq’s first licensing round (LR1) in 2009 is now unattainable after their production plateau targets (PPT) were revised down in 2014 (MEES, 5 September 2014). As a result BGC wants to expand the scope of its operations beyond this trio of fields. But de...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Israel Refiners Post Late-2021 Output Rebound
...th Q4’s 87,300 b/d still well shy of capacity. The two plants’ combined gasoline output increased 9% to 67,400 b/d for 2021, although this remains 20% below 2014’s record 84,500 b/d. Diesel – output of which fell by less than that of other transport fuels last year – saw a more modest 4% year on ye...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Oman Oil Output Hits New Heights In Q1 As Revenues Soar
...allenged. Said Bader al-Kharusi, the Executive Director of the North Oil Directorate at the Shell-led, part-state owned Petroleum Development Oman (PDO) stated in late March that the “government aims to benefit from [current] oil and gas prices’ by maximizing production output.” REVENUES SOAR TO 2014 LE...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Qatar Petroleum Moves To Take Full Ownership Of LNG Facilities
...ctor in recent years, especially following Mr Kaabi’s appointment as Managing Director and CEO in 2014 (MEES, 19 September 2014). The state firm has taken a firm stance with IOCs, opting to either tighten contractual terms or take over concessions entirely upon expiry. When Total’s PSA for the 25...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Long Delayed Barzan Gas Project Starts Up
...ExxonMobil confirmed in its recently released 2020 Annual Report that “The Barzan project started up in 2020.” Qatar's $10.3bn, 1.4bn cfd Barzan project (QP 93%, Exxon 7%) development has been a lengthy saga, with start-up ultimately coming six years after its initially planned 2014 date (ME...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Tunisia Oil & Gas: Major Exodus Looms
...er. There have been no major exploration campaigns or projects of late. And if it wasn’t for the need to see Nawara, on which it took FID in 2014, through to start up, there is little reason to believe OMV would still be in Tunisia. Instead, would it not be better to have smaller but more en...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
India Crude Imports: Saudi Slumps To No.5 With Volumes At 10-Year Low
...arterly figure in a decade or more is the Middle East share of the Indian market. This fell to 54.4% for February, the lowest monthly figure since 2015. January was only just higher at 54.7%. The lowest quarterly figure in the last 10 years was 56.0% for Q3 2014. For Opec the drop off is even more se...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Saudi: Key Gas Start-Ups Increase Oil Field Flexibility
...les gas. The high sulfur content contributed to delays in bringing the projects to fruition (MEES, 7 November 2014). Production from the two non-associated gas fields was initially slated for 2014, but the Arabian Sun comments indicate it is finally ready to begin. Aramco CEO Amin Nasser told the ma...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Kuwait Oil Sector Receives Triple Boost
...ich shares the PNZ with Kuwait, to begin limited production at the offshore 300,000 b/d Khafji field. Khafji is jointly operated by Kuwait Gulf Oil Co (KGOC) and Aramco Gulf Operations. Prior to Saudi Arabia unilaterally halting production in October 2014, ostensibly over environmental concerns, pr...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Israeli Court Ruling Pushes Leviathan Back Further
...om the field and seek arbitration. Israel’s upstream sector has been stuck in stasis since the end of 2014 when the former antitrust commissioner ruled that Noble and Delek were operating as a monopoly offshore Israel (MEES, 2 January 2015). The two firms currently operate all of the country’s ke...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Iraqi Downstream Data Highlights Deep Baiji Impact
...Iraqi refinery throughputs have been stuck at just over 400,000 b/d since the 310,000 b/d Baiji plant, the country’s largest, was overrun by Islamic State (IS) jihadists in June 2014. Though the plant was retaken by government forces in October it was badly damaged (MEES, 13 November 2015). No...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Abadi Surprises By Choice Of Left-Field Kurd As Oil Minister
...onomy and is producing more than 4mn b/d. Low oil prices mean it is strapped for cash and asking international oil companies (IOCs) to cut spending, yet still looks to boost production by 2mn b/d by 2020. Oil revenues slumped from $84.1bn in 2014 to just $49bn last year. Despite record exports, mo...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Oman Output Set To Keep Edging Up
...come a frequent buyer. EXPORT REVENUE SINKS Tumbling oil prices mean that revenues fell by more than 40% last year according to the National Centre for Statistics and Information (NCSI). Oil and gas sales generated OR13.4bn ($34.7bn) in 2014, but just OR7.8bn ($20.15bn) last year. Non-oil revenue fe...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Eni Follows BP, Chevron, QP In Looking To Strike Big On Morocco’s ‘Atlantic Margin’
...ock’s prospects may be substantive. Australian LNG-focused Woodside took a 25% stake last year – the firm’s sole interest in the MENA region alongside a 100% share in the Rabat Ultra Deep ‘reconnaissance permit’ yet further offshore (MEES, 28 November 2014). Stakes are now Eni 40% operator, Woodside 25...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Egypt Unveils Development Plan To Revive The Economy
...nance development projects on the Sinai Peninsula (MEES, 25 March). Gulf countries have been keen to give their assistance to Egypt following the 2013 ouster of former President Muhammad Mursi and have pledged more than $20bn in aid and products since March 2014. Mr Isma’il urged parliament to co...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Iran-Pakistan Trade Boost But Gas Line Still Far Off
...initiate work on its side." Pakistan was to import 750mn cfd (8.2 bcm/year) of Iranian gas from December 2014, but Pakistan claims that nuclear-sanctions on Iran prevented it from raising project finance. With Iran now released from the majority of sanctions, prospects for completion appear to ha...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Kuwait Trade Surplus Collapse
...a 3% fall in production as Kuwait was hit by the progressive outage from late 2014 of production from the Neutral Zone it shares with Saudi Arabia (see p4). In dollar terms oil revenue was down by 48% at $48.7bn, a mere 45% of 2013 takings. And things could get worse. For the first three months of...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
New Forces In The International LNG Market: Consequences For Middle East LNG Exporters
...ar 2014,” held on 17 February in Tehran, Iran. Mr Frisch, a Norwegian chartered engineer and economist, has worked over the past 30 years with Statoil, Phillips Petroleum and Mobil. He established the British-based consultancy Morten Frisch Consulting (MFC) in 1990, and was appointed a senior adviser to...
Volume: 45Issue: 13Published at Mon, 01 Apr 2002