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Israel & Cyprus Talk Power Link, Aphrodite-Ishai
...ach an agreement soon for the Aphrodite – Ishai issue,” Mr Papanastasiou confirmed. A dispute with operator Chevron has also held up development of Aphrodite which was discovered in 2011 (see main story). ...
Volume: 67Issue: 13Published at Fri, 29 Mar 2024 -
Iraq’s Akkas & Mansuriya Fields: Back On Offer
...arded in 2011 to a consortium led by Turkey’s TPAO (22.5%op) alongside Korea’s Kogas (15%), and Kuwait Energy (since taken over by Hong Kong-listed UEG, 22.5%) and state-owned Oil Exploration Company (OEC 25%). Following IS’ ouster, disagreement on commercial terms with operator TPAO pushed Baghdad to ta...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Adnoc Partners With BPFor Transformative Israel Entry
...so holds a 30% stake at Cyprus’ 4.5tcf Aphrodite. Barely 30km apart and discovered within a year of each other, 2010 and 2011 respectively, the two fields are at very different states of development. Leviathan produced a record 1.103bn cfd last year, bringing in gross revenue of $2.5bn, while Ap...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Record Libya Output Boosts TotalEnergies To Mena Record
...T’s underutilized processing facilities. OMAN: FUTURE SOURCE OF GROWTH? TotalEnergies’ gas portfolio took a big hit in the first half of the last decade through the ongoing conflicts in Yemen and Syria, which between them took out more than 600mn cfd of net gas output (see chart 3). In 2011, th...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Iraq & Total Reach Initial Deal On $7bn Of Projects
...entually scandal as Exxon entered the KRG in 2011 (MEES, 21 November 2011). The next nine years saw it packaged under a $53bn Southern Integrated Infrastructure Project (SIIP) that was almost finalized with ExxonMobil and PetroChina but also fell apart (MEES, 10 May 2019). Both companies were expected to fi...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
India Crude Imports: Saudi Slumps To No.5 With Volumes At 10-Year Low
...Latest official Indian crude import statistics show volumes from Saudi Arabia falling to just 467,000 b/d for February, the lowest figure since January 2011. This comes as New Delhi and Riyadh continue a war of words, with India slamming Opec in general and Saudi Arabia in particular for ke...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Tunisia Cuts Interest Rate, Delays Loan Payments
...In a bid to lessen the economic impact of the global coronavirus pandemic, Tunisia’s central bank on 17 March cut its key interest rate by 100 basis points to 6.75% - its first cut since 2011. The bank also said businesses would be able to defer payment of loans by six months and access new on...
Volume: 62Issue: 13Published at Fri, 20 Mar 2020 -
Libya’s 2019 Budget: Fact or Fiction?
...Muammar Gaddafi in 2011 and the ensuing violence. As if Mr Sanalla didn’t have enough on his plate, the budget only allocates around LD1.3bn ($935mn) for NOC employee wages (see table). Oil workers argue that the government was supposed to grant them a 67% increase in wages in line with a 2013 go...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Iran Looks To Europe As Trump Fears Threaten Embattled Economy
...nctions from 2011 onwards had proven effective was that the Obama administration was able to secure the buy-in of the EU and Iran’s key customers in Asia. China, Japan, India and South Korea imported a combined 1.4mn b/d from Iran in 2011, equivalent to around 55% of total Iranian export volumes. This fe...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Qatar & Sudan Deepen Ties
...lationship following Qatar’s mediation role in the Darfur conflict, which resulted in the 2011 Doha Document for Peace in Darfur. And Qatar is in need of friends having faced a regional embargo since June 2017. The main players in the Qatar dispute are Saudi Arabia, the UAE, Bahrain and Egypt. Khartoum ha...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Israeli Gas Development: Can The Domestic Power Market Absorb It?
...viathan discovery to development (MEES, 10 January 2011). Subsequent nearby discoveries, such as Karish and Tanin, were seen as potential long-term tie-ins to the company’s two offshore giants. So there was no hurry to further appraise the fields. What is more surprising is that Energean – which pu...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Algeria Keeps Oil Spending Flat, Extends Exploration Search Offshore
...cences on several fields in June 2016. The two firms earlier, in April 2011, agreed to partner on the development of unconventional resources, particularly shale gas. Offshore exploration in Algeria is not a new idea. State oil licensing authority Alnaft has talked about tendering offshore blocks for ye...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Rosatom Starts Work On New Iran Nuclear Plant, Cementing Russia’s Mena Presence
...pear motivated by more than just economics, with the Russian firm looking to expand its regional reach – and that of Russia – and Iran opting for a prestige project. The plant is located where Rosatom completed the Mena region’s first and, so far only, nuclear plant in 2011, the 1GW Bushehr-1 pl...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Hungary’s Mol - Mena Profile: No More Chasing Barrels
...scal and political stability,” Dr Gaso says. Certainly this stability is an enviable asset in comparison to Mol’s other Mena experiences. Its difficulties in Kurdistan are nothing in comparison to having had to pull out of Syria due to the civil war there and EU sanctions imposed in 2011 (MEES, 10 Oc...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Egypt Reserves Up Again As Cairo Pockets World Bank Cash
...Egypt’s foreign currency reserves rose by a further $200mn last month to stand at $26.6bn at the end of February, their highest level since 2011 (see chart). And reserves will likely have risen further during March with Egypt’s receipt of the second $1bn tranche of a $3bn World Bank loan. Th...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Saudi: Key Gas Start-Ups Increase Oil Field Flexibility
...nce 2011, when the Karan field came online and reached its 1.8bn cfd production capacity in late 2012. Karan was the first non-associated gas field to be developed in Saudi Arabia (MEES, 4 June 2012). An expansion of the Hasbah field is to provide a further 2bn cfd of raw gas to the Fadhili pr...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Israeli Court Ruling Pushes Leviathan Back Further
...de in the past seven years, caught Israel off guard, forcing lawmakers to scramble to put a regulatory framework together ensuring both that enough gas was piped to Israel and that the country could benefit from exporting its natural wealth. In 2011 the Sheshinski Committee passed regulations on new oi...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
More Aid For Jordan, Lebanon And Tunisia
...Lebanon and Jordan were this week promised new loans totaling $573mn to help them cope with the cost of hosting Syrian refugees who have fled their country since the start of the civil war in 2011. Lebanon has signed five loan agreements for $373mn with the Islamic Development Bank (IDB) to...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Egypt Lays More Foundations For Gas Output Growth
...rking intensively on the further development of this project,” Mr Ecke says. Mr Ecke has extensive knowledge of Egypt and was Dea Egypt’s general manager between 2009 and 2011, and the firm’s exploration manager between 2001 and 2005. LetterOne (L1), an international investment vehicle headed up by Ru...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
EGYPT KEY TO KUWAIT ENERGY’S FORTUNES
...EGYPT EGYPT KEY TO KUWAIT ENERGY’S FORTUNES Another firm which has seen production increase substantially in Egypt is independent Kuwait Energy Company (KEC), with output from its Egyptian assets more than doubling since 2011 (see graph). The majority of that output comes from the Ea...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015