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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 -
Algeria Advances Downstream Plans
...ssaoud, and a new naphtha reformer and hydrocracker at the Skikda refinery,” according to the firm’s comments in announcing the Exxon deal. Plans for the two new units at Skikda intended to boost the country’s diesel and gasoline output have been around in some form since at least 2014. Spain’s Te...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Algeria Eyes Solar To Power Oil Operations, But ‘It’s A Long-Term Job’
...om renewables. These will be small projects whose capacity is around 100MW.” Algeria’s solar capacity has risen quickly of late, although from a low level, to 425MW at the end of 2017, while wind capacity has languished at 10MW since 2014 (see chart). The solar increase is attributable to small-sc...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Mubadala’s SWF Acquisitions To Create Global Champions
...namic state organizations in the region. It was formed just over 15 years ago in 2002 and is chaired by Abu Dhabi Crown Prince Muhammad bin Zayid Al Nahyan whose influence has increased significantly since UAE President Khalifa bin Zayid Al Nahyan’s stroke in 2014 (MEES, 29 August 2014). The Crown Pr...
Volume: 61Issue: 20Published at Fri, 18 May 2018