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Chevron Eyes Egypt Expansion As Israel Output Closes In On Record High
...evron’s unwillingness to consider potential synergies with Cyprus,” the source tells MEES. Chevron also gained Cyprus’ 3.5tcf Aphrodite field in the Noble transaction, but despite the field being discovered in 2011 it has yet to be developed. Aphrodite is located just 30km from Leviathan (see box). “Ch...
Volume: 68Issue: 19Published at Fri, 09 May 2025 -
Energean Touts Modest Israel Gas Find, Hopes For More To Come
...ich offer an easier route to development – possibly as a tie-back to Karish alongside the 2011, 0.9tcf Tanin discovery. The latest find “enhances the profitability of the Karish-Tanin development,” Energean says, flagging up the potential for both tie-back to the 8bcm/y (780mn cfd) Energean Power FP...
Volume: 65Issue: 19Published at Fri, 13 May 2022 -
Libya Set To Approve $20bn ‘Paper’ Budget
...ter the overthrow of long-time ruler Muammar Gaddafi in 2011. MEES estimates oil revenues rose to an eight-year high $30bn last year and may well top that this year as oil prices have pushed past $100/B (MEES, 28 January). The Bashagha camp’s latest moves are designed to radiate a sense of or...
Volume: 65Issue: 19Published at Fri, 13 May 2022 -
Homs Refinery Fire Sheds Light On Syria’s Murky Fuel Markets
...om government-controlled territories at 20,000 b/d, whilst plans to boost production to 100,000 b/d at fields Damascus has re-captured have gone nowhere (MEES, 17 January 2020). Prior to the outbreak of civil war in 2011, national oil output, all government controlled, was 390,000 b/d (MEES, 22 Ja...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Yemen Takes Delivery Of Saudi Products Shipments
...started in 2019 and is currently running at around 10,000 b/d (MEES, 15 January). A planned second phase 400MW expansion was awarded to India’s BHL for $436mn in 2011 with work beginning in 2014 (MEES, 9 August 2013). The project was financed by the Arab Fund for Economic and Social Development, the Sa...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Qatar Slumps Into Recession
...ril). LNG: PAINFUL PRICES Qatar’s expansion to 77mn t/y liquefaction capacity was completed in 2011 (MEES, 8 April 2011) and drove Qatar’s GDP ever-upwards, especially while oil-linked LNG prices were booming. Mining and quarrying accounted for 58% of the economy in 2011, before the sh...
Volume: 63Issue: 19Published at Fri, 08 May 2020 -
Iraq Edges Closer To Crucial Seawater Megaproject Deal
...eded for firms to hit their production plateau targets (PPT). In 2010 the oil ministry tapped ExxonMobil’s expertise for a multi-billion dollar Common Seawater Supply Project (CSSP), but the project subsequently fell prey to changing terms, failed negotiations, scandal as Exxon entered the KRG in 2011 (ME...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Total To Become Top Algeria Producer In $9bn Oxy Side Deal
...lling. The company’s only stake was 35% of the aging Tin Fouye Tabankort (TFT) wet gas field where output has fallen from a peak of 680mn cfd in 2011 to just 400mn cfd for 2017 – netting Total a measly 15,000 boe/d, three-quarters gas (MEES, 23 March 2018). But from that trough, the company’s Algeria ou...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
IOCs Face Mixed Picture In The Mena Upstream
...reseeable future. On the gas side of the equation, Total’s regional bets have not fared so well. Output edged up in 2018 to 810mn cfd thanks to the start-up of Algeria’s Timimoun project (see chart 2), but is well down on 2011’s peak of 1.46mn b/d. Wars in Syria and Yemen took their toll on Total’s po...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Tensions Flare As Turkey Drills Off Cyprus
...ach any sort of compromise, with the most recent summit in Switzerland in 2017, the last concerted efforts, failing to reach any sort of deal. Turkey has warned Cyprus about its own drilling activities to the south of the island and has been threatening since 2011, when Noble Energy discovered the 4....
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Iran Threat To Nuke Deal As Exports, Revenues Face Collapse
...ES, 30 November 2011), has been ramping up throughputs and is set to hit full capacity later this month, Reuters reports. But the fact that official Chinese data show overall record crude imports for April despite a heavy maintenance schedule, suggests that at least some of the bumper Iranian vo...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Qatar Plans For 2019 Drilling To Fuel Massive LNG Expansion
...equently had 5-6 operating up to mid-2018 as it was ramping up production capacity towards its current 77mn t/y, which was achieved in 2011 (MEES, 14 February 2011). QP’s drilling subsidiary Gulf Drilling International (GDI) has nine offshore rigs in total, of which three appear to currently be co...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Total’s Libya Expansion: The Plot Thickens
...the Libyan Revolution in early 2011 three projects were under appraisal which would double capacity to 600,000 b/d: development of the North Gialo field and the NC-98 concession would add 120,000 b/d and 80,000 b/d in crude output respectively. A Conoco 2010 analysts’ presentation, meanwhile, says th...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
South Sudan Coffers Empty Amid Crippling Crude ‘Diversions’ To Khartoum
...ss of three-quarters of its oil export revenue in the wake of South Sudan’s July 2011 independence. Compensation was to be paid at a rate of $15/B, implying total monthly payments of $24.1/B until the ‘transitional’ payments were cleared. BEHIND FROM THE START South Sudan fell behind with pa...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Output Slump, Revenue Slump
...tput, some 350,000 b/d for 3Q 2011. But output rapidly slumped. Output was shut in for 15 months from early 2012 as the result of a standoff with Sudan over access to the newly-independent country’s sole export route via Port Sudan. In March 2013, the two countries signed a deal on transit fees an...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Pearl GTL: Shell Bullish But Gasifier Worries Linger
...laysia. Pearl, a test case of whether the ‘Bintulu’ technology is fully scalable, is a two-train plant. The first train was started up in early 2011 and the plant reached full commercial operation by the end of 2012. Pearl is Qatar’s second GTL plant. South Africa’s Sasol started up the $950mn, 32...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
UAE Finishes Building First Nuclear Plant, But Start-Up Delayed To 2018
...erating systems will be conducted at each stage of this process over a period of several months.” When Barakah-1 is brought online it will be the second nuclear power plant in the Mena region, following the start-up in 2011 of a 1GW plant built in Iran by Russia’s Rosatom. The Russian state firm is in...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Wins $1bn From SocGen, But Cases Highlight Shambolic Economic Governance
...nctions imposed on Libya in 2011. Ali Mahmud Hasan, who heads the LIA steering committee appointed by the GNA, has complained that the fund is losing money due to a lack of control over its equity and bond investments. But the unfreezing of the funds continues to be undermined by disputes over the le...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Investment Authority: A History Of Legal Wrangles
...rth $31mn, as the Libyan regime is prevented under sanctions from recovering unpaid debts. The LIA argues that as the debt pre-dated the imposition of sanctions in March 2011, it should not be subject to such restrictions. ...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
New Saudi Minister Faces Task Of Turning Vision Into Reality
...o was reportedly talked out of retiring as far back as 2011. The parallels between the two are evident according to Ms Nakhle: “they are both technocrats, they don’t come from the royal family, they both come from Aramco. They have experience in the industry, so it was an obvious choice.” Mr Fa...
Volume: 59Issue: 19Published at Fri, 13 May 2016