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Egypt ‘Zohrs’ Past Libya As Eni’s Top Gas Producer
...ipem 10000’ drillship which remains under contract at Zohr until well into the 2020s. Eni sees Zohr as the key global example of the ‘Dual Exploration Model’ it has put at the heart of its global upstream strategy since the 2014-15 oil price (and capex) collapse. This model seeks to minimize up...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Adnoc Seeks Investment Injection With Six-Block Licensing Round
...shore) in 2014 and of the Adma concession in March this year offered Adnoc a unique opportunity to forge new partnerships. The firm signed its first upstream partnerships with six new firms from five countries, including key crude buyers India, China and South Korea (see table). Ties were also de...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Global Drilling Returns To 3-Year High In 2018, Mideast Activity Strong
...llapsing in 2014 in the aftermath of the civil war, and even Egypt, which boasted the largest gas discovery in the offshore Mediterranean, the 24tcf Zohr, has seen drilling collapse. Egypt’s rig count averaged 23 in Q1 this year, the lowest since 2002, although Cairo is preparing to launch a bid round be...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Geopolitics Roils Oil Market as Opec seeks Balance
...oducers, especially in the US, to lock in prices through hedging and invest in boosting output. Brent settled at $72.06/B on 12 April, the highest level since 1 December 2014’s $72.54/B. Mounting geopolitical concerns appear to be contributing as expectations grow that the US will pull out of the Iran nu...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Iraq’s Looming Elections Delay Critical Infrastructure Development
...e most since 3Q 2014 when Iraqi crude exports averaged $96.81/B. All exports are from Iraq’s southern terminals offshore Basra, and are well within claimed nameplate capacity of 4.6mn b/d (MEES, 2 February). But the reality is that Basra’s ageing and inadequate infrastructure means capacity is cl...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Lebanon: Can Donor Conference Success Right The Ship?
...VERNMENT EXPENDITURE *FLUCTUATES DUE TO OIL PRICES: 17% OF TOTAL EXPENDITURE IN 2014. ^MEES ESTIMATION . SOURCE: MOF, IMF. IF IT WERE ONLY THAT EASY… There are considerable reasons to share the ruling elites’ optimism surrounding the Cedre result. Namely, the present state of Lebanese go...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Israel: Lots Of Gas But Where’s The Market?
...st 800mn cfd, fully exploiting such reserves requires substantial export deals. And despite a sheaf of LoIs – to Egypt, Turkey, Jordan, and most fancifully a pipeline to Europe via Cyprus, Greece and Italy – none have been finalized. So far a deal signed in February 2014 to supply Jordan’s Arab Po...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Morocco LNG Project Delayed, Future Gas Supply Strategy In Doubt
...nths. ADVISORS PICKED Morocco’s decision to revive LNG import ambitions in 2014 spurred a flurry of excitement, notably from a number of LNG suppliers keen to lock in future volumes in an increasingly competitive global market. In 2015, Morocco initiated talks with majors and energy companies in...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Oman LNG Records Rare Output Rise, But Revenue Falls Regardless
...ound 50% of its output most years. But prices of Omani LNG to South Korea fell some 37% last year to just $7.38/mn BTU, more than $10/mn BTU below 2014 levels. Little wonder that revenues fell nearly $700mn last year to its lowest level since 2004. The LNG revenue fall exacerbated the squeeze on go...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Record US Oil Trade Belies Protectionist Rhetoric
...cord levels (see chart). Saudi volumes did dip in late March with ship trackers estimating a further fall to come. But then this needs to be put in perspective: March volumes were only low compared to January’s three-year-high levels; Q1 as a whole saw the highest volumes since early 2014. Ot...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
BP Poised For Strong Year In Mena
...15 2015 2014 Oil (‘000 B/D) Abu Dhabi 101 5 96 97...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Egypt: Receivables Worries Risk Choking Off Exploration Boom
...oduction in the concession areas until the delayed payments are made,” he says. The government was hoping to have paid off its dues to foreign firms by the end of this year according to Prime Minister Sharif Isma’il, who made the comments in late 2014, when he was oil minister. But the collapse in oil pr...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Egypt Appoints New Heads Of State Oil And Gas Firms
...-Badi’, who will become President of state investment firm Midtap. Mr Masry will be returning to EGAS where he served as deputy head for operations from February 2014 until his appointment as head of EGPC in October last year, taking over from the current oil minister Mr Molla. Taking over from Mr...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Kuwait Seeks More LNG, Strives To Hike Domestic Gas Output
...Already the MENA region’s top LNG importer, Kuwait is powering ahead with plans to secure extra supplies to meet growing gas to power demand as it looks to capitalize on slumping prices. Prices have fallen by approximately $8/mn BTU to around $4/mn BTU since 2014 according to Kuwait Pe...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Aramco/Sabic Make Up With Plan For Joint Oil-To-Chemicals Project
...presents a big step along the way. Announcing the start up of the cracker in January 2014, ExxonMobil Chemical president Stephen Pryor told Reuters it is “by far the most feed-flexible cracker we’ve ever built. It can crack anything from light gases to heavy liquids, including crude oil.” Sabic has been st...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Egypt Secures Saudi, UAE Funding For Power Expansion, Awards Wind Projects
...eoretically give Egypt access to the GCC power grid, but - like the GCC grid itself - progress has been slow (MEES, 28 November 2014). Projects being discussed in tandem with much-needed funding include three coal-fired plants with a combined capacity of 4.62GW at a cost of $4.64bn, for which Cairo has si...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Jordan: Wind Gathers Pace In Bid To Diversify
...2014. The wind farm incorporates 40 of fellow Spanish firm Gamesa’s 2MW turbines. The original plan was to install 33 turbines totaling 66MW, but the ministry expanded the scope. Now Daelim and Kosco have formed the Daehan Wind Power project company to build a 49.5MW wind farm at Tafila, 140km so...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
2.2GW Gas-Fired Plant For Northern Emirates
...x plants totaling 1.15GW in 2013. Now only three are operational: 387MW Nakhil in Ras al-Khaimah and 116MW Ajman and 200MW Al-Zouraa in Ajman. In 2014 Fewa imported 11.1TWh of electricity from Abu Dhabi’s Adewa. Imports exceeded 2GW at peak demand times. Hence building the proposed plant would po...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Oil Market Inches Towards Balance, With Or Without Deal
...0,000 b/d on a year earlier (April 2015 marked the peak at 9.69), and the lowest since September 2014 (see p18). IEA SUPPLY & DEMAND FORECASTS, APRIL 2016 (MN B/D) OPEC SUPPLY & DEMAND FORECASTS, APRIL 2016 (MN B/D) NEGATIVE NUMBER INDICATES THAT OUTPUT IS MORE THAN THE CALL IM...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Libya Unity Government Faces Huge Challenges
...tions. Senior diplomats from first Italy (who sent foreign minister Paolo Gentiloni) and then the UK, France and Spain held face to face talks with the council in their first visits to Libya since EU embassies were closed for security reasons in 2014. There are some signs of political support for the co...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016