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Chevron Looks To Smash Egypt’s Gas Price Ceiling
...i managed to break the price ceiling when in 2017 it secured a Brent crude-linked pricing formula for Zohr with prices rising to a ceiling price of $6.20/mn BTU when the crude benchmark is at or above $70/B. It drops to $4.30/mn BTU when Brent is at or below $40/B. The first project to secure th...
Volume: 67Issue: 23Published at Fri, 07 Jun 2024 -
Iraq’s Hoped-For Opec Quota Boost Slips Away
...ES, 10 March 2017). Even if Iraq were to succeed with this, it could backfire given that its current quota is based on state-wide production inclusive of Kurdistan, and so would be revised down in such a scenario. Last month, Oil Minister Hayan Abdulghani said that his country “was not allocated it...
Volume: 67Issue: 23Published at Fri, 07 Jun 2024 -
IEA Backs Mena Renewable Surge After Late Start
...nstruction 600MW Al Shuaibah plant holding the record of just US¢1.04/kWh since 2021 (MEES, 16 April 2021). After previous false starts, the launch of Saudi Arabia’s National Renewable Energy Program (NREP) with its first tender in 2017 laid the foundations for the kingdom’s ambitious solar and wind po...
Volume: 67Issue: 23Published at Fri, 07 Jun 2024