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Libya ‘Open For Business’ As Bid Round Eyes Global Majors
...delsadiq meanwhile hailed the relative stability the country has witnessed recently, with existing partners like Repsol and OMV, as well as Italy’s Eni, recently resuming drilling in Libya for the first time since 2014 (MEES, 1 November 2024). “This is crucial for encouraging investors and allowing fo...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
OPEC Secretary General: ‘Data-Driven Messaging More Important Than Ever’
...wever, the IEA’s subsequent Oil 2024 report (analysis and forecasts to 2030) sees gasoline demand exceed 2019 levels in the years 2023, 2024, 2025 and 2026 (MEES, 14 June 2024). There are also examples for other energies, such as coal, with past IEA talk of global peaks in 2014, and then in 2024 st...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
Iraq Aims To Restart Kirkuk-Turkey Pipeline
...lamic State in 2014 (MEES, 5 December 2014), Mr Khudaier says he expects “flows by the end of this month.” Any flows are likely to be small at first, but prior to the shut-in of the Kurdistan Region’s alternative pipeline last year, Federal Iraq was exporting around 100,000 b/d to Turkey....
Volume: 67Issue: 15Published at Fri, 12 Apr 2024 -
Prospects For A Prolonged Ceasefire Rekindle Yemen Oil Sector Hopes
...ghters in their areas of control. Despite seizing vast swathes of territory since 2014, including the key Ras Isa oil export terminal, the Houthis have failed to gain control of Yemen’s oil-producing regions (see map). Instead, oil export revenues are being accrued by the Saudi-backed Yemeni government in...
Volume: 66Issue: 15Published at Fri, 14 Apr 2023 -
Jordan Plans Nine Block Upstream Offering
...sha is operated by Jordan’s tiny National Petroleum Company (NPC), after BP pulled out of the tight gas development in 2014 as the reservoir failed to live up to initial expectations (MEES, 26 September 2014). NPC also has a production sharing agreement (PSA) for East Safawi and is assessing the Hamza fi...
Volume: 64Issue: 15Published at Fri, 16 Apr 2021 -
Korea Crude Imports: Mideast Volumes Tumble To Multi-Year Lows
...*South Korean crude imports continue to tumble, slumping to 2.475mn b/d for 1Q 2021, the lowest quarterly total since 2Q 2014 as March imports also fell 14% month on month to 2.299mn b/d, marginally above November 2020’s seven-year low 2.294mn b/d. *Prospects for a swift rebound are lo...
Volume: 64Issue: 15Published at Fri, 16 Apr 2021 -
Neutral Zone Restart: 2mn Barrels Exported
...e currently en-route to Asia for the first time since 2014. Production from the PNZ is shared 50:50 by Kuwait and Saudi Arabia, but the offshore Khafji field was shut-in in October 2014 (MEES, 24 October 2014) due to grievances over shared management. Output from the onshore portion (Wafra) was th...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Egypt Halts LNG Exports As Eni & Shell Bear The Brunt Of Gas Surplus
.../B.” In normal terms, Egypt’s gas renaissance has been a great success story. From a sizable gas deficit for 2014-17, new output led by Eni’s giant Zohr, which came online in December 2017, has meant that since late 2018 the country has had a gas surplus (MEES, 17 May 2019), with exports hitting an ei...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Algeria: Southwest Pipeline Progress, But Field Development Lags
...th the IOCs. Similarly, Norway’s Equinor (then Statoil) in 2014 walked away from the Hassi Mouina license containing the Hassi Tidjerane and Tinerkouk fields: development was “not… commercial” (MEES, 29 May 2015). The 4bcm/y Ahnet tight gas project, though geographically distant, was also at one st...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Mena Drilling: GCC Records, North Africa Slump
...rth $18bn for the expansion of capacity at the Marjan and Berri offshore fields required merely to stand still (MEES, 12 July 2019). The last six years (2014 to 2019) saw the six highest Saudi annual rig count figures on record (MEES, 17 January), whilst at 114 for February and March the rig count re...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Syria Emerges As Iran’s Top Crude ‘Customer’
...e embattled Assad government lost key northeastern fields to Kurdish-led forces and key Euphrates fields (once Shell and Total-operated) to various rebel groups, sending oil output to 28,000 b/d in 2013 and 9,000 b/d in 2014, where it remained for four years. Damascus subsequently developed a sh...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Dana Gas: Egypt Sale Delayed, Looks To Ringfence Iran Deal
...tigation from Dana since breaking down seemingly irrevocably in 2005 (MEES, 15 August 2014). Dana, which typically devotes a sizable chunk of its reports to its various ongoing litigations – of which the long-running Iran saga is perhaps the most impenetrable – is evidently trying to simplify things. ...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Exxon Eyes Israel’s Leviathan
...llow US firm Noble Energy is due for start-up in Q4 this year (MEES, 5 April). Australian LNG experts Woodside pulled out of a 2015 deal to take a 25% stake in the field with FLNG very much mooted as the preferred option at the time (MEES, 23 May 2014). Exxon’s entry would signal that Israel is on ma...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Israel Oil 2018 Data: Gasoline Imports At Record On Refinery Outage
...62mn tons (77,000 b/d) or 2017, a year that saw renovation, a strike and a fire at one of its diesel units (MEES, 1 September 2017). Paz increased its crude throughput capacity from 4.5mn tons (90,000 b/d) in late 2013 (MEES, 29 August 2014). *But overall, the gains at Paz were not enough to make up...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Iraq’s Downstream Dreams: Back To Square One?
...e long-delayed Karbala refinery is the only new refinery making any progress at present. Work on the $6bn 150,000 b/d project was awarded to Hyundai in 2014 (MEES, 10 January 2014) per an EPC contract, but payment problems saw the project – once slated for a 2019 start-up – delayed. Mr Ghadhban te...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Korea Q1 Oil Imports: Iraq Up, Saudi Down, Russia & US Records
...west quarterly share on record after the 69% figure in Q4 last year (MEES, 11 January). *Opec volumes were down even further: Q1’s 2.163mn b/d was the lowest quarterly figure since 2014, whilst Opec’s 70.5% Q1 market share was the lowest on record. Both figures would have been up, however, were it no...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Opec Crude Risks Being Squeezed From The Market
...tput could fall further still. Opec output hasn’t fallen below 30mn b/d since June 2014, but it wouldn’t take much for it to fall below this threshold for April. Should the US opt against renewing waivers that permit certain countries to import Iranian oil once they expire on 2 May then it seems in...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
UAE’s Mubadala Sells Cepsa Stake To Investor Carlyle
...TER 2014 BOOST FROM SE ASIA ENTRY *WORKING INTEREST BASIS. SOURCE: CEPSA, PARTNER COMPANIES, MEES ESTIMATES AND CALCULATIONS. 3: CEPSA: REFINED PRODUCTS & PETCHEMS SALES HIT RECORD 31.4MN TONS IN 2018, CRUDE RUNS AT HIGHEST SINCE 2012 SOURCE: CEPSA, MEES CA...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
MEES Interview With Iraq Oil Minister Thamir al-Ghadhban
...ere the contractor takes the full commitment for investment with a grace period to the host country and so on. They are a burden, especially when the price of oil is low, as we have faced since 2014, and for three or four years we suffered a lot. The budget was severely hit because of this commitment. Th...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Iraq Plans Major Pipeline Revamp To Enhance Export Flexibility
...ditha to Jordan’s Aqaba port, as well as a 160,000 b/d spur line to Jordan’s Zarqa refinery (MEES, 21 November 2014). The Basra-Haditha portion was to be constructed under an EPC contract, while Haditha-Aqaba would be under a build-own-operate-transfer (BOOT) deal. The government was wary of fi...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019