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Egypt: New Deals Boost Gas Output, Oil Decline Continues
...the fourth quarter to be the highest of the year, and we anticipate exiting the year around 500mn cfd,” he adds. This in turn would be a two-year high if achieved, although still a far cry from the record 921mn cfd posted in 1Q 2014. While welcome news for Egypt, Apache’s gas gains are un...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Deadly Clashes Threaten Libya’s Short-Lived Stability
...nister Khalifa Abdelsadiq hailed the relative stability the country has witnessed in the past few years, stressing that Libya was “open for business,” with existing partners like Repsol and OMV, as well as Italy’s Eni, recently resuming drilling in Libya for the first time since 2014 (MEES, 28 Fe...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Gulf NOCs Tap Into World-Leading US LNG Sector
...amco in the race. Indeed, QatarEnergy was by far the earliest mover, having agreed in 2014 to convert its Golden Pass LNG import terminal (QatarEnergy 70%, ExxonMobil 30%) into an export terminal (MEES, 11 July 2014). More than a decade later, Qatar’s Minister of State for Energy Affairs Saad al-Ka...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Iraq Bidding: Chinese Firms Dominate
...gion’s rebounding oil output (see p5). In the upstream, it operates the Kurdish-controlled Khurmala dome portion of the giant Kirkuk oilfield and between 2014 and 2017 it controversially operated the field’s Avana Dome, and the nearby Bai Hasan field after Kurdish forces moved in claiming to secure th...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
Kuwait’s Emir Suspends Parliament;Can He Quell Tumultuous Divisions?
...ss a crucial debt law since 2017 due to opposition by MPs, these onerous spending commitments saw Kuwait rack up some $108bn in cumulative deficits over 2014-2022 (see chart 2). A 2024-2027 government program published earlier this year envisages a further surging of deficits to a colossal total of KD...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
Sonatrach Adds Equinor And Sinopec To MoU List
...vestment push (MEES, 7 February 2020). Equinor is also involved in exploration activities in Algeria at the country’s Timissit license on the border with Libya. The block, which is said to have both conventional and unconventional potential, was originally awarded in 2014 (MEES, 3 October 2014). Eq...
Volume: 64Issue: 20Published at Fri, 21 May 2021 -
Iran Deepens Iraq Energy Role With 3GW Basra Power Plant
...to Iraq’s energy sector. The $2.5bn Rumaila IPP project was directly awarded to the Amman-based Iraqi conglomerate Shamara Holding Group (SHG) by the Ministry of Electricity in 2014 under Federal Iraq’s first Power Purchase Agreement (PPA). The PPA is for 15-17 years and Iraq’s Ministry of Fi...
Volume: 64Issue: 20Published at Fri, 21 May 2021 -
Apache ‘Excited’ By Egypt Despite Output Plunge
...8). 1: EGYPT OIL OUTPUT FELL TO A 38-YEAR LOW OF 608,000 B/D FOR MARCH ('000 B/D) 2: APACHE GROSS EGYPT OUTPUT IS AT A 10-YEAR LOW BUT THE US FIRM HOPES A WELL-STOCKED INVENTORY WILL SEE A REBOUND 3: APACHE HIKES EGYPT CAPEX, BUT STILL JUST 40% OF 2014 LEVELS *IN...
Volume: 63Issue: 20Published at Fri, 15 May 2020 -
Cepsa’s Upstream Shift Hampered By Algeria Output Slump
...e Adoc concession which it entered in 2014 (MEES, 14 November 2014) as well as the Sarb/Umm Lulu stake. But though Sarb/Umm Lulu did provide a boost to Cepsa’s net output for 2019, underlying decline in the rest of its upstream portfolio – southeast Asia, Latin America, and above all Algeria – me...
Volume: 63Issue: 20Published at Fri, 15 May 2020 -
On Iraq Power, And Power Politics: MEES Interview with Luay al-Khatteeb
...proving supply efficiency from certain stations, and adding new units and power stations. Additionally, we added significant capacity to the transmission lines and extended the distribution system in the liberated areas – so for the first time since the 2014 Daesh [Islamic State] insurgency we have ma...
Volume: 63Issue: 20Published at Fri, 15 May 2020 -
Egypt Lines Up Ammonia Project
...st of $10.9bn. The project, conceived when Egypt’s gas resources were increasingly overstretched, is intended to process 4mn t/y of imported naphtha (MEES, 4 April 2014). Financing remains incomplete despite EPC work being awarded in mid-2018 (MEES, 14 December 2018). ...
Volume: 63Issue: 20Published at Fri, 15 May 2020 -
Stalemate in Tripoli: A New Status Quo?
...rporation (NOC) are deposited in the Tripoli-based central bank. While the Tripoli central bank does pay out some cash for the day-to-day running of the eastern-based administration, it is the GNA that gets to decide on the bulk of the budget. Libya has been divided since 2014 when Islamists on the lo...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Yemen: Second IOC Returns Despite No End In Sight To Conflict
...e drone attacks. YEMEN KEY OIL & GAS INFRASTRUCTURE YEMEN EXPORTS* REMAIN AT LESS THAN HALF 2014 LEVELS ('000 B/D) *BASED ON IMPORT DATA. SOURCE: MEES. PRODUCERS EDGE BACK… Further east, the story is markedly different. Vital supplies remain low and a st...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Shell’s Oman GTL Proposal: What’s Changed This Time Around?
...ned. Given such a propensity to budget blowouts it’s little wonder that remaining interest in GTL evaporated in the wake of the collapse in oil prices in the second half of 2014. South Africa’s Sasol had signed preliminary agreements for a GTL project in Uzbekistan of a similar size to Oryx, but put th...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Rosneft Begins Pilot Production in Iraqi Kurdistan
...10,000 b/d installed by former Hungarian operator Mol, which could also be linked to the nearby Jisik discovery (MEES, 31 August 2018). Mol had high hopes for Bijeel, targeting 50,000 b/d (MEES, 15 August 2014), but it exited in 2016 after downgrading reserves from 800mn barrels to just 4mn (MEES, 15...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
China’s Anton Oil Expands Iraq Presence As Shell Exits
...th BOC on 11 May, thereby lowering its PPT from 1.2mn b/d to 800,000 b/d by 2025. Current output stands around 400,000 b/d, which Lukoil vows to increase to 480,000 b/d by 2020. The Russian giant had already managed to renegotiate its PPT down once before, from 1.8mn b/d to 1.2mn b/d in 2014. ...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
UK Firm Gulfsands Vies To Outlast Syria Sanctions
...erated several of the region’s fields under a 2014 understanding. GPC reportedly produced around 17,000 b/d through 2017 as well, but due to EU sanctions on the state firm, Gulfsands does not receive a cent of revenue from its crown jewel asset. That the block’s fields and infrastructure escaped the wr...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
US Shale Records Test Infrastructure Limits
...tput is now forecast to top 12mn b/d by the end of 2019 (see charts). For this year the EIA now forecasts 10.72mn b/d, up a whopping 1.37mn b/d on 2017 – a record annual gain, beating 2014’s 1.29mn b/d. The hike in forecasts comes in on the back of soaring oil prices. US marker WTI, having av...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Oil Price Gains Prompt Debate Over Demand Slowdown
...The IEA is seeing signs that the global oil market is overheating, with recent price gains towards $80/B Brent potentially dampening demand growth. Opec meanwhile is sticking to the line it pursued in January when prices edged above $70/B for the first time since December 2014, that short-te...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Libya: What Hope For The UN’s Ambitious ‘Action Plan’?
...te April between Ageela Saleh, head of Libya’s Tobruk-based House of Representatives (HOR), and Khalid Mishri, head of parliament’s Tripoli-based consultative chamber, the High Council of State (HSC). The HOR and HSC broadly represent the political factions whose 2014 split led to Libya’s effective di...
Volume: 61Issue: 20Published at Fri, 18 May 2018