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Egypt Cuts Receivables Bill Amid Arbitration Threat
...diterranean blocks where the firm is planning on drilling two wells later this year and where Israeli firm Ratio Oil is in talks to take a stake (MEES, 22 March). UAE independent Dana Gas, on the other hand saw its receivables fall to $140mn at end-2018 down from $228mn a year earlier and a 2014 peak of $30...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Bahrain Eyes Unconventional Oil For Economic Reboot
...ngdom’s hydrocarbon reserves.” The tests, in the former-Block 4 license relinquished by US-firm Oxy in 2012, showed light 43°API oil from Hanifa-Tuwaiq Mountain source rock. Bapco’s 2014 report said it had engaged “a US-based consultant” to appraise onshore and offshore unconventional plays. Then in Se...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018 -
Yemen: IOCs Eye Re-Entry Amidst Battlefield Stalemate
...OMV’s 2014 global net liquids output. But this share was set to rise from 14,500 b/d (6,400 b/d net to OMV) for 2014 to 23,000 b/d in 2016 with the culmination of €1.9bn development plans. Late-2014 saw the start-up of five wells and two early production facilities, with a further 15 wells pl...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018 -
Iraq Eyes 70,000 B/D Refinery Boost By End-2018
...rrently stands at 600,000 b/d but that given the decrepit nature of much of the infrastructure it can rarely reach such levels (MEES, 16 February). The refining sector was hit badly by the rise of Islamic State, with the 310,000 b/d Baiji refinery gutted in 2014. Baghdad’s scattergun approach to do...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018 -
Sonatrach Slashes 5-Year Spending Plan: Is It Finally Getting Real?
...ar’s $75bn for 2017-21 and little more than half the $100bn planned for 2014-18. But muddying the water is that actual spending in recent years has seriously lagged the planned figures. Each plan has presumed that ‘one more year’ of austerity will be followed by four years of higher oil prices and in...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018 -
Qatar Restarts Gas Expansion Plans As Iranian Output Of Shared Field Soars
...0mn cfd of ethane, 10,500 b/d of propane and 7,500 b/d of butane (MEES, 5 September 2014). Despite the initial plan, it is very possible that some of the Barzan natural gas will end up being exported. Power supply remains ahead of demand and Qatar plans to add 4.5GW installed capacity by 2019 th...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
What’s Next For Sonatrach Sales Deals?
...rtfolio. The recent rebound in volumes comes after weaker demand in Italy following the 2008 financial crisis. Italian imports of Algerian gas fell from a peak of 25.2 bcm in 2010, to 11.9 bcm in 2013 and 6.8 bcm in 2014, following a ‘holiday deal’ between Sonatrach and Eni to reduce offtake due to lower It...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Algeria’s 2016 Gas Export & Output Records – Are They Believable?
...DICATED) 2016 vs 2015 2010 2011 2012 2013 2014 20...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Egypt Tenders Wind Project As Three Megaprojects Begin Supplying Grid
...ck of investment, improved terms have encouraged upstream operators to invest. New upstream developments under way are expected to raise Egyptian gas production above 5mn cfd later this year for the first time since January 2014 (MEES, 31 March). However, new power projects under construction are ex...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Egypt Receivables: A Glass Half Full Or Half Empty?
...2015 2014 2013 2012 3Q16 Company k b/d mn cf...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Kuwait Plans To Double Debt Ceiling To $66bn
...2015 4Q16 vs 4Q15 4Q15 2014 2013 2012 20...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
New Adnoc Supremo Commits To 3.5mn b/d Output Target Amid Leadership Shakeup
...ctor for a number of years, especially since the president’s stroke in 2014. Many of the new faces have previous, or ongoing, experience in sovereign wealth fund Mubadala (see table). Mubadala has greatly expanded its role in the energy space in recent years. Mubadala’s board is chaired by the cr...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Middle East Drilling Remains Robust Despite Upstream Capex Cuts
...oks to develop the Risha gas field and East Safawi Block. Though once seen as a potential gas lifeline for Jordan, Risha proved disappointing: BP pulled out in 2014 and wrote off its $240mn investment in the project after drilling two wells and determining that the reservoir, which BP previously th...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Mid-East LNG Demand‘A Driving Force’ In 2015
...4% to 105mn tons in 2015, a 43% global share down from 47% as recently as 2013 (see table). Output from dominant producer Qatar – which alone provides 32% of global supplies, steady with 2014 – edged up to a record 78.4mn tons in 2015. But Australia is set to challenge Qatar for top spot over the ye...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Israel Refineries Flat Out In 2015, Making Most Of Margins
...• Israel’s two refineries continued to run flat out in 2015. While average combined products output was at just under 293,000 b/d, slightly short of 2014’s record 295,000 b/d, operators Bazan and Paz continued to make the most of low crude oil prices. Brent prices averaged just over $50/B in 20...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Iran’s Power Plants Increase Gas Burn, Face Competition For Supplies
...an’s gas output is being boosted by the completion of development phases of the giant South Pars offshore field. South Pars produced 130 bcm (12.6bn cfd) in 2015-16 up 15% from 113 bcm (10.93mn cfd) for 2014-15, Ali-Akbar Shabanpur, managing director of field operator Pars Oil and Gas Company (POGC) sa...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Petroceltic: Worldview Or Bust
...bsidiary Dragon Oil tried to buy the firm for $800mn (MEES, 10 October 2014). It was downhill from there. Worldview, which has steadily built a stake since 2011, in January 2015 lambasted Petroceltic CEO Brian O’Cathain's board for “failures… including the failed offer by Dragon Oil (MEES, 16 January 20...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
$22bn In Saudi Cash And Products To Keep Egypt Afloat
...ypt obviously missed Prime Minister (then Oil Minister) Sharif Ismail’s target of paying off the dues by end-2015 (MEES, 28 November 2014), things had at least been moving in the right direction. If the $20bn figure attached to Saudi Arabia’s five-year oil products supply deal is correct then this is...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Saudi Crown Prince Plots $2,000bn Mega Wealth Fund
...oil prices and with them Saudi revenue since late 2014, where the cash will come from. King Salman, who took power in 2015, has allowed his favorite son Muhammad to grasp many of the kingdom’s key reins of power. His mooted economic policies are revolutionary given Saudi Arabia’s conservative an...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Chevron’s Neutral Zone Operation At Risk As Output Falls
...rgest, are the US company’s only producing asset in the Middle East. Operations have been constrained since the start of 2015, the company says in its freshly-released 2014 annual report. The PNZ accounted for 4.6% of Chevron’s overall liquids production for 2014, down from 4.9% for 2013 (see graph). Th...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015