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Libya’s Oil Revenues Hit By Soaring Products Import Bill
...22’s products import bill of $4.4bn was also a record, topping 2014’s $3.5bn, with 2023 on track to hit $4bn. Prevailing volumes and prices imply gross crude and condensate export earnings of $7.74bn for Q1, some $2.4bn above the official NOC/LCB figure of $5.3bn. The former figure equates to gross ea...
Volume: 66Issue: 17Published at Fri, 28 Apr 2023 -
ExxonMobil Quits Iraqi Kurdistan
...initially handed back the Betwata, East Arbat and Qara Hanjeer blocks (see table), due to a combination of geological and geopolitical issues. Qara Hanjeer in particular was located in a sensitive area in territory disputed with the federal government in Baghdad, and work had been held up over 2014...
Volume: 65Issue: 17Published at Fri, 29 Apr 2022 -
Kuwait Energy Reaps Reward From Iraq Investments
...April). EGYPT OUTPUT DECLINES FURTHER KEC’s Egyptian output has fallen 3,470 b/d year-on-year and is now below 17,000 b/d for the first time since Q1 2014. Output averaged just 16,340 b/d last quarter as it declined for the seventh successive quarter. The majority of KEC’s Egyptian ou...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Iran, South Africa In GTL Deal, Zanganeh Eyes Oil Sales
...e NIOC research arm will cooperate with PetroSA in developing slurry reactors. These are used in the Fischer Tropsch process for GTL production. RIPI has continued its GTL research during the sanctions period (MEES, 29 August 2014). The two companies will also work together on methods to achieve bl...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Kuwait: Shell Deal Boost For IOCs
...aching 4mn b/d by 2020, but has moved the goalposts by including condensate in the calculation (MEES, 15 April). Despite the 60% fall in oil prices since 2014, Kuwait remains committed to attracting IOCs and investing in its oil sector. Jamal Jaafar, CEO of the Kuwait Oil Company (KOC) said on 11 Ap...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Iraq Out Of Pocket As It Boosts Oil Payments To IOCs
...d a larger stake for BP and its partner, Chinese state firm CNPC. The Iraqi oil ministry has admitted to difficulties in paying the companies, which it says are still owed $9bn in arrears for 2014. It has to raise an additional $18bn this year to pay the IOCs at a time when its own revenues are fa...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
UAE: South Koreans Hope To Expand Presence Through Adco
...e so-called legacy partners. Total, BP, Shell and ExxonMobil each held a 9.5% stake in the former Adco concession, which expired at the start of 2014. Adnoc decided to open the playing field to a wider selection of potential players in an effort to bring in more of its main crude oil buyers, pa...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
BP: Khazzan Unaffected By Oil Price Slump
...cade (bar 2014, when output fell 1% versus 2013), Oman continues to face a gas shortage as demand growth, driven by the country’s numerous gas-hungry enhanced oil recovery projects, continues to outstrip supply, also having implications for LNG exports (see p10 and MEES, 17 April). PHASE 1: EN...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Italy’s Enel May Exit Algeria’s Upstream
...€2bn and already in execution, and another €2bn worth of assets already identified. The remaining €1bn will consist of extra assets that will be pinned down in the next years. Enel is a key Italian importer of Algerian gas. However volumes have slumped from 25 bcm for 2010 to a mere 6.7 bcm for 2014...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Kuwait Finds New Oil At Home As It Goes Shopping In Tunisia
...ture upstream assets, successful exploration acreage as well as mid- and downstream assets. ENI TUNISIA OUTPUT 2009 2010 2011 2012 2013 2014...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Egypt Cancels Summer In Bid To Avoid Power Cuts
...ate gas firm EGAS for five years under a deal signed in November last year (MEES, 7 November 2014). Egypt plans to install a second FSRU at Ain Sukhna from July, but as yet no announcement has been made regarding the supplier. The ministry has since December finalized deals to import 76 LNG ca...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Iran’s New Generation Of Oil Contract ‘Finalized’
...November 2014. A ‘first draft’ of the IPC was unveiled at a conference in Tehran in February, with the aim of getting feedback from both local and foreign experts and companies (MEES, 28 February). Though Iran’s Deputy Oil Minister for International Affairs Ali Majedi recently said “some fe...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Rebels ‘Close In’ On South Sudan Oil Fields
...her ‘producing’ state – Unity – has been offline since the first week of 2014, after rebel forces took control of the fields, and damaged key oil infrastructure. Pre-conflict production was running at around 240,000 b/d. The rebel spokesman said forces were also nearing the Jonglei state capital Bo...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Tunisia: Oil Output Down On Political Delays
...January 2014, we have been in close dialogue with ministers… In the last couple of weeks we have seen the first indications of any barrier to progress by a negative vote in the Energy Committee, a subcommittee to the Tunisian parliament. PA Resources is not alone in this, and other operators are ex...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Abu Dhabi Onshore Awards Unlikely Before ADCO Concession Ends
...elds. ADNOC Director General ‘Abd Allah al-Suwaidi on 23 April suggested that a decision may not be reached on Abu Dhabi Company for Onshore Oil Operation’s (ADCO) contract by the time it expires on 13 January, 2014. More than 10 firms have been invited to bid for its concession. ADCO is co...
Volume: 56Issue: 17Published at Fri, 26 Apr 2013