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Iraq: Another New Gas-Focused Bid Round – Can It Attract Major Interest?
...cluding in Saudi Arabia). The structure includes two LR6 blocks on offer: North and South Rutbah. Elsewhere in Anbar, the Akashat block lies on the Syrian border. A 2011 map from Cambridge Carbonates shows indications of previous drilling activity near the block which is believed to have eight leads th...
Volume: 66Issue: 25Published at Fri, 23 Jun 2023 -
Kuwait: Another Cabinet, Another New Oil Minister
...med had been a political outcast since 2011 when he was forced to resign under the threat of parliamentary questioning over allegations of corruption in contracts worth $900mn. This, amongst other factors, led to the whole cabinet resigning (MEES, 5 December 2011). Sheikh Ahmed had been involved in...
Volume: 66Issue: 25Published at Fri, 23 Jun 2023 -
Chevron Closing In On East Med Expansion Decisions
...velopment plan can be formulated that will see the country belatedly become a gas producer well over a decade after Aphrodite’s 2011 discovery. Nicosia will be encouraged by NewMed presentation material which indicates that the most likely scenario for Aphrodite development is tie-in to a Leviathan to Id...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Egypt Fuel Oil Burn At 4-Year High As Cairo Prioritizes LNG Exports
...y managed to maintain LNG exports at near-record levels. Egyptian LNG exports of 3.31mn tons for the first five months of 2022 – with an average of 1.12bn cfd of gas delivered to the country’s two LNG plants – are up 10% year-on-year and put 2022 on track for the highest LNG exports since 2011 ac...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Algeria’s Sonatrach & Spain’s Naturgy Prepare For Gas Price Battle
...ttled for €1.5bn ($1.9bn), with Sonatrach taking a stake in the Spanish firm as part of the settlement (MEES, 20 June 2011). This stake stood at 4.1% in 2019. Naturgy and Sonatrach also partner each other on the Medgaz pipeline and recently upped their stakes to 49% and 51%, respectively (MEES, 5 Ju...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
Rising Gulf Tensions Cast Spotlight Back On Iran’s Nuclear Capabilities
...wever, are uranium upgrading plants at Natanz and Fordow (see table). Bushehr-1 was started up in 2011 after a much-delayed gestation and suffered teething problems before commercial operation was declared in September 2013 (MEES, 10 October 2014). Russia’s Atomstroyexport provides uranium enriched to...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Libya Fights To Keep The Lights On
...State power firm Gecol is fighting to stop blackouts amid a destructive battle for Tripoli. Libya’s national power company Gecol has struggled to keep the lights on since the 2011 ‘revolution’ which toppled long-time leader Muammar Gaddafi. Years of war, lawlessness and instability have cr...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Libyan Fertilizer Plant Set To Restart
...e marketing of urea and ammonia from Yara with “factory operations expected to restart shortly.” Business for Lifeco hasn’t been great. The JV (50% Yara, 25% NOC, 25% Libyan Investment Authority) has made a loss each year since 2011, a cumulative $570mn to 2018. Yara in 2015 wrote down $112mn an...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Total Poised For Further Mena Upstream Expansion
...minant source of Total’s regional gas output (75% in 2017). Mena gas production crumpled from 1.46bn cfd in 2012 to last year’s nadir of 772mn cfd, a near 50% plunge in just six years. This is essentially due to conflict outages. Syrian output averaged 218mn cfd in 2011 before the country’s descent in...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Saudi Petchems JVs Get Greedy For Naphtha, Cutting Into Exports
...ll, to a total 234.4mn barrels at the end of April, the lowest since November 2011 and the seventh consecutive monthly decline. Total oil stocks also fell to 320.4mn barrels, the lowest since December 2011 (see table, p10). ...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Saudi Crude Exports Down, Refining Runs Up, More Products Exports
...rkedly each year since 2014 and as a result gasoline and diesel output in particular have soared. The kingdom last year became a net gasoline exporter for the first time since 2011 (see chart 5). Net gasoline exports were just 5,000 b/d in 2016, but are on track to exceed 30,000 b/d this year. Me...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Tunisia: Oil Blockades Ease But Costs Keep Rising
...MBERS 2010 2011 2012 2013 2014 2015 2016 Ja...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Egypt Ends Forex Controls
...ntrols placed by the CBE on the movement of foreign currency after the 2011 revolution in order to limit the flight of capital. An acute shortage of foreign exchange strangled the economy in recent years and sharply reduced international reserves which fell from $36bn in 2010 to $15.5bn at end-July 20...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
US-Listed Oil Firms* Saw 7bn Barrels Of 2016 Reserves Write-Downs With Lower Prices
...2011-2016 PROVED LIQUIDS RESERVES^ (BN barrels) 2016 CHANGES VS 2015 *67 US-LISTED OIL COMPANIES. ^PROVED RESERVES ARE THOSE THAT, WITH REASONABLE CERTAINTY, ARE RECOVERABLE UNDER EXISTING ECONOMIC AND OPERATING CONDITIONS. SOURCE: EIA....
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Dea Looks To Boost Egypt Oil Output, Slams Algeria Terms
...ght now is the most important place for us to be,” Christoph Schlichter, Dea’s Senior VP, Production North Africa told this week’s World NOCs Congress in London. “Since the revolution in Egypt in 2011, a lot of companies looked at the country and asked themselves whether they can invest, whether it...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
IEA Climate Change Goals Put Spotlight On Mideast Subsidies
...adually reduce fuel subsidies (MEES, 9 January). The UAE is leading regional moves into solar (MEES, 10 April) and is targeting electrical sector efficiency (MEES, 6 February), and this week announced plans for a review of gasoline subsidies. The government raised gasoline prices twice before 2011, bu...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Libya Dreams Of 1Mn B/D End-Year Output
...cal refineries, with the balance exported. Libya’s plans to boost refining capacity to 1mn b/d from the current (theoretical) 380,000 b/d (see table), halted by the security collapse since 2011. “We had a good plan. We had a workshop in April 2012, we invited all Libyan experts and carried out a fe...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Saudi Arabia Drafts Energy Efficiency Law In Bid To Curb Runaway Demand
...at has grown more distant as a result of the Arab revolutions that have shaken the Middle East since 2011. It has instead focused heavily on energy conservation and efficiency under a program coordinated and led by Prince ‘Abdulaziz, who has more than two decades of experience as deputy oil mi...
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 20...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
IOC Cost-Cutting May Limit GTL Prospects
...the end of April that the lead time for Pearl to reach cost recovery was reduced by a couple of years “almost by definition,” since the firm used an oil price of $70/B in its calculations. After coming online in 2011 and facing some hiccups, Pearl produced at a record level during 1Q14 (MEES, 11 Ap...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014