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Egypt Pledges To Pay $1bn To International Oil & Gas Firms
...stallments until 2017, it said then. End-2013 filings by IOCs indicate that Egypt was true to its word. BP lopped $700mn from its dues on a year-on-year basis (MEES, 7 March), whilst six smaller IOCs cut receivables by a total of almost $500mn in the fourth quarter alone. Such figures likely un...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Algeria: Politics Unchanged, Oil & Gas ‘Must Do Better’
...tes will start coming onstream from 2017. “For the next few years, we assume things will be held pretty much steady at current levels,” says Mr Pollard. And steady production means falling exports given booming domestic demand – especially for gas, with Algeria bringing online a massive 12GW of gas-fi...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Tunisia: Oil Output Down On Political Delays
...bitious Zarat development plan targets initial output of 24,000 b/d oil from 2017 (with gas initially re-injected). PA’s financial worries only ended when deep-pocketed but controversial Geneva-based trading house Gunvor took a majority stake and pledged to extend financial backing. Gunvor is the ma...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Egypt To Slash Diesel Imports As ERC Work Starts
...d a 32,000 b/d distillate hydrotreater. Initial work will include piling, site preparation and soil remediation. ERC chief executive Thomas Thomason told reporters recently that the plant is expected to start up in early 2017. He notes that Egypt already produces enough fuel oil to meet domestic re...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Saudi Direct Crude Burn Plan Can Only Work Short-Term, Says FGE
...e last of these plants is due online in 2017 (MEES, 4 April). For 2013 as a whole Saudi Arabia burnt 483,000 b/d of crude and 311,000 b/d of fuel oil. With an additional five heavy fuel oil-fired plants totaling 14GW (as well as the 17GW of gas-fired plant) due online by 2018, the official Saudi ta...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014