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TotalEnergies Takes FID On 1mn t/y ‘Low-Carbon’ Oman LNG Bunkering Hub
...ctor in recent years. Output has risen every year for nearly a decade reaching an all-time high of 52bcm last year, and with growth attracting increased investment from international energy majors, the upwards trajectory looks set to continue. Driven by BP’s 2017 start-up of the massive 1.5bn cfd Kh...
Volume: 67Issue: 17Published at Fri, 26 Apr 2024 -
Services Firms Eye Mena Resilience Amid US Shale Collapse: Is This Realistic?
...quentially. Schlumberger is the most regionally diversified of the three firms. Q1 was the second straight quarter that ‘Mideast & Asia’ revenue has been ahead of that for North America – the first occasion this has been the case since 1H 2017 (see chart). The Mideast & Asia share of overall Schlumberger re...
Volume: 63Issue: 17Published at Fri, 24 Apr 2020 -
Israel Orders Noble & Delek To Play Fair
...ecial purpose vehicle set-up to sell off those interests, which itself has 16.75% (MEES, 30 June 2017). By delaying the sale of its stakes it has managed to retain its veto rights and ensure Leviathan, where it will keep 45.34%, has been hitherto able to usurp Tamar in gas sales negotiations. Karish is...
Volume: 63Issue: 17Published at Fri, 24 Apr 2020 -
Algeria: Sonatrach Boss Falls Victim To Politics
...months over an alleged role in a corruption scandal involving the now-dissolved Brown & Root-Condor JV (KBR and Sonatrach) which he headed (MEES, 20 August 2007). He was brought back from the dead in 2017 and took over from Amine Mazouzi as CEO of Sonatrach (MEES, 21 April 2017), with Al...
Volume: 62Issue: 17Published at Fri, 26 Apr 2019 -
Abu Dhabi’s Taqa: Upstream Down Despite Price Recovery, Power Steady
...t losses from 2013 onwards forced the company to rethink its finances. In 2018 Taqa reported a net profit of AD398mn ($108mn), an increase of 145% from the $44mn reported in 2017. This return to profit came after a four-year period of net losses which cumulated in a 2015 deficit of AD19bn ($5....
Volume: 62Issue: 17Published at Fri, 26 Apr 2019 -
Services Firms: Margins Remain Squeezed Despite Higher Oil Prices
...growth has slowed. Oilfield services firms Schlumberger, Halliburton, Baker Hughes (now a GE subsidiary) and Weatherford saw their revenues fall by a combined $1bn in 1Q 2018 versus 4Q 2017. Their CEOs remain cautious. Despite oil prices recently topping $70/B for the first time since 2014, th...
Volume: 61Issue: 17Published at Fri, 27 Apr 2018 -
Abu Dhabi’s IPIC Bags $1.2bn From Malaysian Fund Settlement
...nuary this year and outlined its new organizational structure of four investment platforms in February (MEES, 24 February). The new company’s CEO Khaldun Khalifa al-Mubarak – legacy CEO of Mubadala – says he expects to begin operations in May 2017. The company’s portfolio of corporate assets wa...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Total Sees Partnerships, Technology, Exploration Driving Growth
...gionally and globally, in a bid to drive production from 2.3mn boe/d in 2012 to its targeted 3mn boe/d by 2017. The group’s expected Middle East production of around 550,000 boe/d this year is slightly down on 2011’s 570,000 boe/d. Privately officials concede that the region’s operating environment is cu...
Volume: 56Issue: 17Published at Fri, 26 Apr 2013