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Chevron Inches Towards Shale-Focused Algeria Entry
...at with Chevron, was the site of Algeria’s first trial shale well back in 2014. Whilst the initial well produced “excellent reserves,” shale plans were abandoned in the face of subsequent protests (MEES, 23 January 2015). Sonatrach’s MoU with Exxon also references “study[ing] the existing op...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
KRG Hands Baghdad Oil Sector Counter-Proposal
...OGC) “which will be tasked with the exploration, extraction and production of oil and gas” and the Kurdistan Organization for the Marketing of Oil (KOMO). These entities have already been created, with KOMO marketing Iraqi Kurdistan’s inaugural independent exports – a 2mn barrel cargo – back in 2014...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Algerians Boycott President Tebboune’s ‘New Algeria’
...ak oil prices since 2014 have resulted in steep fiscal and current account deficits. And the country’s lethargic state-led economic model has been unable to compensate. The planned solution, as ever, is to pursue diversification and a private-sector led growth model. But words have not been backed up by...
Volume: 64Issue: 25Published at Fri, 25 Jun 2021 -
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 -
OMV Tests Yemen Restart
...spended in 2015. COST RECOVERY Production hit 14,500 b/d in 2014 and OMV forecast 23,000 b/d upon Phase-2 completion, then set for 2016. But fate intervened. Today, Shabwa basin lies in relatively safe government controlled territory, and OMV appears bent on cost recovery: “If you’ve in...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Tunisia: Oil Blockades Ease But Costs Keep Rising
...so sharply down, and imports up, lower prices mean that Tunisia is receiving three times as much gas from Algeria in lieu of transit payments than in 2014; so paid-for volumes (also from Algeria) are down (see charts 2 & 3). Tunisia’s oil production was already down 6% at 44,300 b/d for the fi...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Libya: Progress Against IS Brings Internal Divisions Back To The Fore
...nuf terminal, both of which have been out of commission since December 2014. The re-opening of the two facilities, along with the 250,000-b/d export terminal along the coast at Zueitina, was to be the second phase in a production increase strategy beginning with the resumption of production from th...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Algeria Crisis Intensifies As Export Earnings Collapse
...placed. But, whoever is making the decisions, the scale of the challenge is daunting. The country’s export revenues were just $9.82bn in the first five months of 2016. This equates to $23.65bn on an annualized basis, down by 37% on 2015 and a whopping 62% on 2014 (see table). Not only are export ea...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Yemen Oil Minister Replaced As Fuel Crisis Deepens
...mage. Latest figures from the Ministry of Oil and Minerals suggest attacks on the pipeline have cost the country in the region of $400mn in lost oil export revenues in the first quarter of 2014. The situation is expected to improve in the immediate term at least with Yemen’s National Oil Company th...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Election Result: Rohani Stresses ‘Moderate’ Message
...ould remain in power until at least the 2014 Syrian presidential election and that foreign troops should be withdrawn from Syria. Since the Iranian Revolutionary Guards Corps are active participants in the Syrian civil war, as is Iran’s Lebanese proxy Hizbollah, if Mr Rohani is demanding the withdrawal of...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013