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Iraq Targets 1.54mn B/D Refining Capacity With Relaunch Of 150,000mn b/d Missan Plans
...pacity since 2017, when the country was struggling to cope with the aftermath of the 2014 destruction of its largest refinery, the 290,000 b/d Baiji complex, by Islamic State (MEES, 26 September 2014). Mr Sudani says the new refining additions are part of his government’s efforts to maximize the value de...
Volume: 68Issue: 14Published at Fri, 04 Apr 2025 -
Libya’s Mabruk: 2025 Restart?
...France’s TotalEnergies reveals in its 2023 annual report on 29 March that output at Libya’s Mabruk field will restart next year at best. The field in Libya’s Sirte Basin oil heartland has not produced since being overrun and badly damaged by IS-affiliated militants in December 2014 (MEES, 6 Ma...
Volume: 67Issue: 14Published at Fri, 05 Apr 2024 -
QatarEnergy In Mauritania As Namibia Excitement Builds
...jor subsequently relinquished in 2014. MAURITANIA: SHELL IS NOW THE KEY EXPLORATION PLAYER ALONGSIDE BP’S PSCs...
Volume: 66Issue: 14Published at Fri, 07 Apr 2023 -
Baghdad & KRG Sign Landmark ‘Temporary Deal’ To Resume Exports
...t to restart. Ankara’s strict implementation of the ICC ruling which covered exports from 2014 to 2018 appears more directed at pressing Iraq not to file for additional compensation for the period of 2019 onwards and to negotiate a settlement of the approximately $1.5bn reward granted. With that be...
Volume: 66Issue: 14Published at Fri, 07 Apr 2023 -
North Africa Gas Exports To Europe Fall Amid Russian Uncertainty
...th only limited upside possible. Algeria, Libya and Egypt’s combined 55.4bcm of exports last year – including volumes to Turkey and the UK – were the highest since at least 2014 (see chart 2). Simply keeping volumes at this level would be a massive achievement. ALGERIAN SUPPLIES TAPER OF...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Baghdad Sends Fresh Oil Sector Demands to Erbil
...s resources in Iraqi Kurdistan back in 2014 it chose the more-lucrative production sharing agreement (PSA) contractual model allowing foreign operators a share of the volume of oil produced, rather than the technical services contract (TSC) model used by Baghdad. Baghdad meanwhile treats IOCs as se...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Iran Starts Gas Storage Expansion
...Iran’s president Ebrhaim Raisi kick-started the second expansion phase of the Shourijeh-D gas storage facility. Phase 1 was inaugurated in 2014 with the facility receiving 10mn m3/d (353mn cfd) of gas via pipeline in the summer months and supplying 20mn m3/d (706mn cfd) to north, northeast an...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Israel Oil Demand Falls To 9-Year Low Amid Record Imports
...cond for 2020 with volumes falling by 43% to 39,900 b/d. The KRG was third on 19,300 b/d, less than half 2019 levels and the lowest annual figure since 2014. However, Israel’s imports of Kurdish crude have surged since the start of 2021, averaging 46,800 b/d for Q1 as a whole, ahead of Azerbaijan on...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Cyprus Gas-Fired Power Plans Warming Up
...untry’s main port of Limassol. The jetty will be approximately 1.2km in length and will have a berthing position for the FSRU and mooring dolphins on either side for LNG tankers (see map). It is situated next to trading firm Vitol’s 545,000m³ VVTV oil products storage terminal which was built in 2014 (ME...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Iraq Passes 2021 Budget With Strong Emphasis On Power Projects
...penses. In 2014, when large swaths of the country’s northern and western provinces fell to ISIS, Iraq failed to pass a budget as well. 20% OF REVENUES FROM ‘NON-OIL’?… Of course, as per every year, oil income is slated to make up the lion’s share of the total $69.88bn in revenues. The bu...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Egypt: Draft 2021/22 Budget
...rrent financial year. It also forecasts a primary surplus of 1.5% of GDP, which does not take into account interest payments, which have made up the largest portion of the budget’s spending allocation since 2014-15. The budget will now need to be approved by parliament before its final approval from th...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Iraq Asks IOCs To Slash Spending As Export Revenues Halve
...sra Oil Company official told Reuters. In the short term, this will limit the dues Baghdad owes to Iraq’s foreign operators. But, as happened after the 2014 oil crash, it will also significantly hinder much-needed oil and gas investment. Especially if as in late-2014 and early-2015, the government st...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Firms In The KRG: How Low Can They Go?
...cluding Total, Exxon and Chevron, as well as Rosneft and Gazprom – work in Iraqi Kurdistan, the biggest producers (Kurdish firm Kar aside) are a collection of small-to-medium sized foreign independents whose fates are largely tied to revenues derived from Kurdish oil. And for that reason, the 2014-17 in...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Egypt Cuts Oil Import Bill As Refineries Up The Pace
...ypt, it is fuel oil demand that has fallen the furthest: from a peak of 196,000 b/d in 2014 and 2015, when the country’s gas shortage was at its most severe, to just 76,000 b/d for 2019, by far the lowest figure in Jodi data stretching back to 2002 (see chart 2). Overall, the near 160,000 b/d fall in...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Saudi Economy: Modest Diversification Efforts Face Bleak Outlook
...ckage aimed primarily at protecting small and medium sized enterprises (SMEs), but implementing this alongside budget cuts will be a delicate balancing act. As of end-February Riyadh also had $497bn foreign reserves to turn to. This is almost $250bn below their August 2014 peak and reserves look set to so...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Neutral Zone Exports Resume
...me since 2014 (MEES, 28 February) and volumes will be heading to Asia. ...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Gazprom KRG Output Boost
...,000 b/d. This brings the block up to the partners’ planned development target and it is unclear whether the partners will want to expand processing facilities to push production capacity higher (MEES, 11 March 2014). Garmian is an outlier within the Kurdistan Region’s oil producing blocks in that it is lo...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Lebanon To Award Billion-Dollar Gas Import Deals
...will help mitigate the need for individual project tenders which historically have proven the main cause of delays – as was the case both with FSRUs and building new power infrastructure. And arbitrary disputes are always a worry. The government battled Athens contractor J&P since 2014 over wh...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Egypt Gas Market Liberalization: Set For Take-Off?
...minent gas imports from Israel resting on the new framework, MEES examines the state of play. Egypt on 1 August 2017 passed legislation to enable use of the country’s 7,600km main gas grid by private sector operators. Long-mooted liberalization plans gained traction in 2014-15 as slumping domestic ou...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Algeria: Bouteflika Out, But What Next?
...the protests is Algerians’ inability to see a bright future with the current system in place. Half of the country’s 42mn population is under the age of 30 and youth unemployment is close to 30%. In the good times of high oil prices, the ruling elite was able to buy its way out of trouble, but the 2014...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019