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Mauritania Gas Development Gets European Supply Crunch Boost, But Exploration Canned
...e north is set to be relinquished on the expiry of its current exploration period at the end of next month. At least BP drilled an exploration well on C-12, 2017’s Lamantin-1 which unsuccessfully targeted oil. This is more than ExxonMobil did on its three ultra-deepwater blocks – C-14, C-17 an...
Volume: 65Issue: 20Published at Fri, 20 May 2022 -
Libya Sees Smuggling Surge As Oil Prices Rise
...werbrokers. Naturally, the practice puts a huge strain on state coffers and means Libya is effectively paying hundreds of millions each year to smugglers to enrich themselves. Between 2017 and 2021 Libya spent almost $14bn on fuel subsidies according to figures from the central bank (see chart 2). A su...
Volume: 65Issue: 20Published at Fri, 20 May 2022 -
Saudi Arabia Surges To $15bn Q1 Surplus
...INS Total revenues in the first quarter amounted to $74.1bn, the highest quarterly figure in ministry data stretching back to 1Q 2017. Within this, oil amounted to $49bn (66%), the highest figure since 3Q 2018’s $49.1bn (see chart 2), as Brent crude averaged $98/B for the quarter. With oil prices co...
Volume: 65Issue: 20Published at Fri, 20 May 2022