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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