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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 -
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 -
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 -
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 -
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 -
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 -
Chevron Looks To Farm Down KRG, Morocco Interests
...completed 2D seismic work in 2014 and plans to started 3D seismic work in 2015. Chevron is targeting a 500,000 b/d-plus rise in production to 3.1mn barrels per day of oil equivalent (boe/d) by 2017 – an ambitious target given that output has been trending downwards in recent years (see gr...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Iraqi Oil Exports Rise To Nearly 3Mn B/D As KRG Deal Holds
...rther development of Zubair such as the long process of approving large contracts are resolved. Samsung Engineering said in March last year that it had been awarded an $840mn contract for the Zubair degassing facilities. In its annual report for 2014, Eni, which has a 41.6% stake in the TSC, sa...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Egypt: Apache Oil Output Rises As Gas Shortages Intensify
...r fracture stimulation,” the firm says. As a result of the boost from these discoveries Apache says that its gross Egyptian oil output will rise this year from 2014’s 199,300 b/d – 29% of Egypt’s overall 690,000 b/d production—though its gas output will fall. On a net basis the firm’s oil output is...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Kurdish Export Initiative Stalled By Pipeline Sabotage
...mi-autonomous region, to Iraqi oil exports to give the talks the maximum chance of success. The 2014 Iraqi draft budget, still stalled in parliament because of the dispute between the two sides, had factored in 400,000 b/d of Kurdish crude oil exports for the current year. Iraq’s Deputy Prime Mi...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014 -
Egypt: No Short-Term Boost To Gas Supplies
...e second half of 2014, according to the Ministry of Petroleum, even as gas shortages are already causing blackouts in the North African country. Power cuts are common in Egypt during the summer, when state utilities are overburdened by the increased use of air conditioning. But this year, the co...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014