- Sort by:
- Score
- Published ▼
-
Morocco Sticks To LNG Plan, Keeps Calm And Keeps Drilling
...stem,” reducing the country’s “external and fiscal vulnerabilities,” the IMF says. DEFICIT DOWN Morocco’s trade deficit in January-May 2015 fell by 25.3% to MD63.12bn ($6.52bn at $1=MD9.68) from MD84.54bn ($10.33bn at $1=MD8.18) in the corresponding period of 2014. The cost of energy imports fe...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Iraq To Revise Pipeline Route To Jordan
...nsortium was formed last year and asked to submit a preliminary technical proposal for the project, known as the Strategic Crude Oil Export Pipeline Infrastructure Project. This was shelved when IS, then known as ISIS, launched a lightning offensive capturing Iraq’s second city of Mosul in June 2014. IS la...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Egyptian Refiners Award Contracts For New Gasoline Units, Plan Coker Rehab
...rlier estimated the overall cost of the plant at $250mn and said the plant was expected to start up in 2018. Egypt’s annual average gasoline demand reached a new peak of 144,000 b/d in 2014, when refinery output of 75,000 b/d required EGPC to import 69,000 b/d – equivalent to 48% of demand (see gr...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Egypt Completes Smaller Power Plants Amid Major Capacity Hike
...has also connected a 300MW second phase of a power plant at 6th of October City. State generator Egyptian Electricity Holding Company (EEHC) has already secured loans to upgrade the Damietta West power plant to combined cycle operation (MEES, 7 November 2014). This will raise Damietta West ca...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Egypt’s Taqa Plans To Double Capacity To Help Cairo Bridge Power Shortage
...ound 31.5GW, but government faces a steep challenge in tackling both short and medium term supply crises. Peak demand reached 28.25GW in summer 2014, and could rise by 6% this year, according to Electricity Minister Muhammad Shakir. Taqa Executive Chairman Khalid Abu Bakr, speaking to MEES at last we...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Saudi Runs Hit Record, Cut Into Exports (Jodi April Data, ‘000 B/D)
...D15 vs YTD14 vs YTD13 2014 Crude Production 10,308 +14 +648 10,294 9,980 +269 +81...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Egyptian Independents Get Boost From Multilateral Cash
...ys. The loan is part of an $80mn debt facility, passing its final review this week, as it awaits board approval (see table). Awarded in 2004, Merlon’s output at El Fayoum has ramped up rapidly from 2009 start-up, hitting a record 9,000 b/d on 15 June, up from 7,000 b/d in late 2014. “Many of th...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Chinese State Firm Expands In Egypt
...stern Desert (NPI 50% and operator, Irish independent Circle 40%, Canadian-registered minnow Sea Dragon 10%). Here gross output was around 10,400 b/d and 9mn cfd gas for 2014, giving the Chinese firm 5,200 b/d and 4.5mn cfd on a net basis. NPI’s other operated interest is 50% of the East Ghazalat co...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Enoc To Expand On International Stage
...hygalybeg (Zhdanov). The PSA expires in May 2025 but Dragon Oil has an exclusive right to negotiate an extension for a further period of not less than 10 years. As of 31 December 2014, the Cheleken contract area held remaining gross proven and probable reserves of 663mn barrels of oil and condensate and 1....
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Slow Start For Saudi Stock Market Opening To Foreigners
...abia was the only country among the G20 which barred foreign investors from its stock market. Saudi Arabia, the biggest economy in the Middle East with a GDP estimated at $750bn in 2014, has a stock market capitalization at more than $590bn. With modest trading in the first week of opening the ma...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 18-Jun 8-12 Jun 1-5 Jun May-15 Apr-15 Q1 2015 YTD 2015 Q4 2014...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Iraqi Output Under Pressure As IOCs Withdraw Staff
...ys. While acknowledging that export facilities had managed to post impressive gains in 2014 with the addition of a new single point mooring berth, volumes may be capped until 2018 due to “mismanagement of the coastal Fao storage project in Basra,” which it said was crucial for crude oil transiting fr...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
KRG Capitalizes With Baghdad Under Threat
...ghdad and cannot be met. The real starting point for export potential is 200,000 b/d, he says, which could be increased steadily if the international oil companies are paid. The Iraqi government drafted its budget on the basis of 3.4mn b/d of exports for 2014. The budget was not ratified and is now st...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Libya: Oil Minister Shakmak Sanguine Over Production Woes
...ese problems will be solved sooner rather than later. Libya’s OPEC governor Samir Kamal told the press last week that he hoped production would average 900,000 b/d in 2014, about three fifths of Libya’s total capacity of 1.6m b/d. Given average output of 300,000 b/d so far this year, this implies ou...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Major Declines Ahead For Kuwait Oil Production, Says IEA
...KUWAIT The International Oil Agency (IEA) sees Kuwaiti oil production declining by some 415,000 b/d over the next five years, according to the 2014 edition of its Medium-Term Oil Market Report (MTOMR) released this week. Kuwait insists that its production capacity will rise from the cu...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Iran Touts Upstream Opportunities Ahead of July Nuclear Deadline
...iority. South Pars is key to this, “For this Iranian year [March 2014-March 2015] we plan to increase gas production from South Pars by 100mn cu ms/d (3.53bn cfd), and condensate production by 160,000 b/d. For the next Iranian year, we are planning another 100mn cu ms/d [increase],” he says. However, wi...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Saudi Arabia Drafts Energy Efficiency Law In Bid To Curb Runaway Demand
...erage GDP growth in 2014-2018 is expected to slow to 4.2%, resulting in a slowdown in oil demand growth, it says. “So steep has been the climb that some observers have suggested that on current trends, oil export revenues could sink to a trickle within a generation,” the IEA says. It refers to the go...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Saudi Arabia: Rigcount Hits Record 101 For May 2014
...s wells and 50 water wells. The rise in drilling activity since early 2011 coincides with relatively stable oil prices that have remained largely above $100/B. Oil Vs Gas Split Onshore Vs Offshore Split MENA Active Drilling Rigs, May 2014...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
IOC Cost-Cutting May Limit GTL Prospects
...ads the project with a 75% stake, while the Nigerian National Petroleum Corporation (NNPC) and Sasol own 15% and 10%, respectively. Sasol is expected to take a final investment decision on its 38,000 b/d Oltin Yo’l GTL JV project in Uzbekistan by the end of 2014, though this depends on several fa...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Cyprus: Eni Plans September Drilling, CNOOC Eyes Aphrodite Stake
...orouk Offshore, awarded last year (MEES, 19 April 2013). Total last year completed a 3D seismic survey on Block 11 and kicked off a 2D survey on Block 10 in February 2014. Cyprus Offshore Blocks...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014