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Kurdish Hopes Of Autonomy In New Syria Unravel
...nister Nouri al-Maliki now the frontrunner for the post (MEES, 16 January), Iraqis are experiencing a sense of déjà vu, drawing an uneasy parallel with 2014, when ISIS fighters swept across the country under his watch, seizing Anbar province, Mosul and large swathes of territory. For now, incumbent Pr...
Volume: 68Issue: 23Published at Fri, 23 Jan 2026 -
BP & Adnoc’s Landmark NewMed Deal: Testing the Water or Troubled Waters?
...structive, it could potentially damage relationships and credibility with existing key partner Chevron as well as with prospective partners as BP and Adnoc. “Look at what happened in prior Delek negotiations with how close they came with [a $2.5bn, 2014 deal to sell 25% of Leviathan to Australia’s] Wo...
Volume: 66Issue: 23Published at Fri, 09 Jun 2023 -
Tehran & Baku Agree To Double Gas Swap
...anian gas grid, near the Caspian Sea port of Neka (see map). In the past Iran had turned a profit from importing gas from Turkmenistan at a much lower price than it received from exports to Turkey (MEES, 3 October 2014). Another consideration beyond logistics, is that Iran’s own demand for gas – es...
Volume: 65Issue: 23Published at Fri, 10 Jun 2022 -
Iraqi Parliament Passes $17bn Emergency Bill
...ojects. But it also registers a negative precedent by renewing the practice of ex-budgetary spending decisions as were made in 2014 and 2020. Many observes had hoped that the lack of a 2022 budget would pressure politicians to reach a deal on government formation and exit the current gridlock. Former MP Al...
Volume: 65Issue: 23Published at Fri, 10 Jun 2022 -
Libya’s NOC Plans Massive Upstream Opening
...timism. An October 2020 ceasefire between previously warring eastern and western forces has held, the country has a unified government for the first time since 2014 and preparations for nationwide elections in December are underway. But the peace process is extremely fragile (MEES, 4 June). “We are ve...
Volume: 64Issue: 23Published at Fri, 11 Jun 2021 -
Iraq Confirms Negotiations With American-Saudi Consortium For Akkas
...s originally awarded to Korea’s Kogas (100%) in 2010’s third licensing round, with the firm targeting 400mn cfd for a remuneration fee of $5.50/boe (MEES, 25 October 2010). Kogas declared force majeure on the field in 2014 as Islamic State overran the area, but after the area was retaken, Baghdad be...
Volume: 64Issue: 23Published at Fri, 11 Jun 2021 -
Gulfsands Bullish On Syria Return As Key Russian Investor Consolidates Position
...nserving cash for potential Syria re-entry. Whilst Gulfsands says it has had no control over and received no revenue from its Syria assets since 2011, it was informed by Syrian state firm GPC that the Block 26 fields, having produced intermittently since 2014, “returned to regular production in January 20...
Volume: 64Issue: 23Published at Fri, 11 Jun 2021 -
US Data: Record Stocks, Record Cuts, Which Way From Here?
...om services firm Baker Hughes (see chart 1). The overall US oil rig count of 222 is the lowest since 2009 with the 72.3% year-on-year collapse the highest on record. *Indicative of leaner drilling operations in the latest boom versus the years to 2014 is that March’s record 4.80mn b/d Pe...
Volume: 63Issue: 23Published at Fri, 05 Jun 2020 -
Italy Imports At Record Low As Covid Hits But Iraq Bucks The Trend
...Italy’s crude imports fell to just 1.05mn b/d for February, the lowest figure since 2014 as the country became the first European nation to get battered by the Covid-19 pandemic. Italy is not only an important oil consumer in its own right, it is but also the location of several key re...
Volume: 63Issue: 23Published at Fri, 05 Jun 2020 -
Dubai’s Dragon Roars In To Egypt With BP Purchase
...r 2018, up on 2017’s 84,000 b/d: the firm aims to “maintain” output at “around 100,000 b/d” in the coming years. Enoc has released few figures since taking Dragon private in 2015, but an entitlement share in line with 2014’s 56% would net it 52,000 b/d from Cheleken for 2018. The firm’s only ot...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Opec Output Rises In May Ahead Of Latest Crunch Meeting
...2014’s $914bn (see chart). The Opec Basket aggregate of prices rose by 33% for 2018 to $69.78/B, while the group’s crude oil exports edged up from 24.66mn b/d to 24.67mn b/d. Products exports also rose, from 3.92mn b/d in 2017 to 4.71mn b/d last year. It is therefore something of a mystery ho...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Venezuela’s Extraordinary Drilling Exploits
...st 32 rigs, down from 49 the previous year. That number was 74 as recently as 2014. Yet Opec’s ASB shows that Venezuela led Opec in the number of wells completed last year. The South American country completed a massive 710 over the course of 2018, up from 478 the previous year, and well clear of No...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Oman’s 2019 Power Start-Ups Are Last Gas Burners In Project Pipeline
...gas in 2018, equalling its record consumption in 2015. While consumption for power generation has remained in the 8.0-8.3bcm/y range since 2014, the upstream rally has boosted LNG exports (see chart). Although Sohar-3 and Ibri IPP would require around 420mn cfd of gas to operate at full ca...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Algeria Cuts Deficit For 2018: Gains Will Likely Prove Short-Lived
...Algeria notched up a $10.5bn deficit for 2018, the tenth in a row, though the lowest since oil prices crashed in the second half of 2014. But the numbers have taken a turn for the worse this year. And political instability presents a further downside risk. Freshly released financial stats fr...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Qatar Embargo One Year On: Anatomy Of Resistance
...NDENSATE HAVE REBOUNDED FROM 2Q 2017 LOWS (‘000 B/D) *ESTIMATE BASED ON ANNUAL IMPORTS FOR CHINA 1Q 2013 - 2Q 2014. SOURCE: IMPORT STATS, MEES....
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
ExxonMobil’s Rapidly-Expanding Mediterranean Presence
...erica, and shale in particular, the key focus of its spending since oil prices tanked in the second half of 2014, the same year that it opted against renewing its stake in the UAE’s Adco concession. The MENA share of its oil output has fallen from 25% in 2013 (545,000 b/d, all from Abu Dhabi and Iraq) to 37...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Opec Eyes 25% Revenue Boost Ahead Of Vienna Meeting
...t at the highest levels since at least 2014 versus the Oman/Dubai average, with Arab Light raised by 20 cents to a $2.10/B premium (see p15). While the kingdom may be opting to shift oil exports into more visible markets, overall volumes have been rising for some time. After bottoming out at 8....
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
2017’s Biggest Opec Winners
...) 2013 2014 2015 2016 2017 vs 2016 20...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Iran: Growing Capital Outflow Threatens Economy Ahead Of Sanctions
...timates Iran’s forex reserves fell $16.3bn between March 2016 and December 2017, compared to increases of $2.2bn in the year starting March 2015, $8.6bn in 2014 and $13.2bn in 2013. The decline in Iran’s reserves is primarily attributed to capital flight. This in turn has led to a steep depreciation in th...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Crude Official Selling Prices ($/B)
...*VS ICE BRENT FROM JULY 2017 PREVIOUSLY VS BWAVE. SAUDI ARABIA RAISES ASIA OSPs FOR JUNE 2018, KEY ARAB LIGHT TO HIGHEST SINCE JULY 2014 VERSUS OMAN/DUBAI BENCHMARK ($/B) OMAN/DUBAI=ZERO...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018