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Lebanon Bidding Risks Stalling Amid Major Pullback
...Lebanon’s relaunched offshore bid round risks flopping. With only five blocks on offer and three of these contested with Israel, the number of firms looking to operate has fallen to just six from 13 in 2014. ExxonMobil, Chevron and Shell are among those to have pulled back. Lebanon’s En...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
BP’s WND Starts Up
...e Libra and Taurus fields, which constitute Phase 1 of the 1.2bn cfd project, are currently producing 700mn cfd of gas and 1,000 b/d condensate “20% higher than the planned sales gas plateau,” BP says. This implies that Egypt’s gas output has hit 5bn cfd for the first time since January 2014 (se...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Iraqi Coffers Reap Reward Of Higher Oil Prices
...low 2014’s $30.2bn. Revenues for April were up 37% year-on-year at $4.6bn and were higher than every month in 2016 except December. Although they slipped slightly from March’s $4.8bn, this was effectively due to the shorter month, as daily revenues averaged $154mn in both March and April. Oil re...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Jordan: Zarqa Expansion
...id, according to Jordan’s official stats, oil demand fell from a peak of 155,000 b/d in 2014 to a five-year low of 133,000 b/d for 2015, an unlikely outcome given the country’s rising population. One possible explanation is that ‘official’ supplies are being augmented by smuggled products from ne...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Wintershall Dispute Takes Gloss Off Libya Production Peak
...Libyan output has topped 800,000 b/d for the first time since 2014. Output would be even higher were it not for a dispute with Germany’s Wintershall, says NOC. Crude production on 10 May was at least 800,000 b/d, according to officials from Tripoli-based National Oil Corporation (NOC), th...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Wins $1bn From SocGen, But Cases Highlight Shambolic Economic Governance
...ADERSHIP DISPUTES The issue over who heads the LIA has been long drawn out. Mr Breish was deposed as LIA head in June 2014 under Law 13, a measure passed by parliament in May 2013 that excluded those associated with the previous regime from participating in state functions. But he continued to be re...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Investment Authority: A History Of Legal Wrangles
...The LIA lodged a lawsuit against French Investment bank Societe Generale in 2014. In this it claimed the relationship between it and SocGen through which the latter executed $2.1bn of trades on behalf of the LIA in the 2007-09 period was based on a “fraudulent and corrupt” scheme involving a $58...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Gulf Banking Ripe For Takeover Spree
...venues fell from a six-year high of $97.2bn in 2014 to just $44.3bn in 2016, a collapse of 54% (see chart). They are projected to rise back above $50bn this year but will still remain well short of 2014 levels. It’s a similar story elsewhere in the GCC, with Saudi crude revenues falling a staggering $15...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Algeria Sees Power Demand Soaring; Can It Find The Cash To Boost Capacity?
...rn 13.3% higher than the previous record set in 2014 (see chart). Part of the additional load was met by 1.09GW of new gas-fired plants that ramped up to full capacity last year, including 394MW at Tilghemt, 220MW at Hassi Messaoud, 220MW at M’Sila, 140MW at Labreg, 40MW at Boufarik, 40MW at Ou...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Yemen Conflict Sees Gulf States Test Their Military Prowess
...a lightning 2014 advance) have been pushed out of Marib to the western edge of the city, and there has been a negotiated truce with anti-government fighters in Al-Jawf and other provinces. But there is a complete stalemate in Taiz in the south. A coalition grouping the Houthis with militias loyal to fo...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Global Conflict Fatalities, 2015
...BY REGION: MENA ACCOUNTS FOR 50% OF TOTAL 2015 FATALITIES… ...THOUGH THIS IS DOWN FROM 2014 2/3 OF 2015 MENA DEATHS (AND 1/3 OF THE GLOBAL TOTAL) WERE IN SYRIA SOURCE: IISS ARMED CONFLICT SURVEY, 20...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Mideast Military Spending By The Numbers
...rong growth in spending in both countries far surpassed global growth in military expenditure, which in 2014 dollar terms (ie adjusted for inflation) grew by just 1% to $1.7trn in 2015. On this basis Mideast spending grew by 4.1% last year. Saudi Arabia was by far and away the region’s largest sp...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
KRG Exports Rise With Boost From New Fields, But Takings Fall
...make a $26mn coupon payment last month. Kurdish firm KAR aims to increase production by 50,000 b/d in 2016 from its Khurmala Dome field, as well as from Kirkuk’s Avana Dome and nearby Bai Hassan field both of which the KRG (and Kar) controversially took over in 2014 (MEES, 25 March). Piped ex...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Apache Lauds ‘Reliable’ Egypt In Low Price World
...l and gas output given the current combination of low prices and stretched capex. Apache’s key recent output gains have come from the Ptah and Berenice fields in Egypt’s far northwest – only discovered in late 2014, output has ramped up to 26,000-30,000 b/d plateau volumes from 13 wells from ea...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Iran Selects 49 Oil, Gas Projects Open For Foreign Investment
...ar in early 2014 to 330 bcm/year by 2017. The list, revealed on the ministry news service by Abdol-Mohammad Delparish, director of consolidated planning at the state-run National Iranian Oil Company (NIOC), comprises a host of projects that are at various stages of exploration and development. 28 of...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Oman Planning for Spot Power
...pire in 2017, with five more finishing by the end of 2020. While some PPAs will continue beyond the introduction of the spot market, the new rules will provide “an alternative way for producers to sell power to OPWP” (MEES, 7 February 2014). NERA has already advised the GCC Interconnection Au...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Mauritania Dreams Of Gas Riches As Kosmos Touts 8 Tcf Find
...uritania, which in recent years has looked like a country with a hydrocarbons past, rather than a future. Output from the one producing oil field, Chinguetti, (Mauritania has no gas output) dwindled to a mere 5,400 b/d for 2014. With operating costs rising to $52/B, and an estimated $59/B for 2015, only ju...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Libya: Industrial Unrest Highlights Fragility Of Output
...ve been up and running since the end of 2014, following a shut down in early November (MEES, 13 March). The field had been offline for much of the second quarter of 2014, but had resumed production in June 2014 (MEES, 25 July 2014). The closure of El Feel takes Eni’s total liquids production from ar...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Qatar Seeks New IOC Partners To Develop Al-Shaheen Oilfield
...serves and attaining its ambition of becoming the world’s largest LNG producer and exporter (see p8). The emirate also took significant steps to diversify its downstream sector. Crude production averaged 660,000 b/d in the first quarter of this year from an average 710,000 b/d in 2014, according to MEES es...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Qatar Launches $1bn LNG Boil-Off Facility
...erations at JBOG date back to October 2014, with jetty boil-off gas recovered from over 500 ships since then. Emissions were not helped by the previously-routine flaring of boil-off gas at Ras Laffan. More common global practice has long been to either use boil-off gas for power generation, or to re-li...
Volume: 58Issue: 19Published at Fri, 08 May 2015