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European Majors And New Entrants Secure Key Algeria Blocks In ‘Successful’ Bid Round
...untry’s influence within Opec+. Algeria produced 1.145mn b/d of crude oil in 2014 (see chart 1), but the subsequent collapse in oil prices led to a reduction in oil sector investment and capacity has dwindled ever since. According to the IEA’s latest medium-term outlook, Oil 2025, production capacity st...
Volume: 68Issue: 25Published at Fri, 20 Jun 2025 -
Iraq Looks To Transform Export Options With $5bn South-North Pipeline Reboot
...e first phase of the planned Iraq-Jordan Export Pipeline project, alongside a second phase 800,000 b/d pipeline from Haditha to Jordan’s Red Sea port of Aqaba (MEES, 14 September 2012). That project was derailed by the Islamic State’s takeover of large swathes of Iraq in 2014, including most of An...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Iraq: Another New Gas-Focused Bid Round – Can It Attract Major Interest?
...curity in western Iraq is still a concern despite the threat from Islamic State having been much diminished in recent years. In 2014, Anbar fell to the group with little to no resistance from government forces and whether Baghdad wants to admit it or not, this will be a major consideration for IOCs po...
Volume: 66Issue: 25Published at Fri, 23 Jun 2023 -
IEA Backs Saudi Arabia To Lead Mena Gas Supply Push
...anned start-up date of 2014 (MEES, 12 October 2012) and is currently due online this year. Recent delays have been down to problems with the offshore pipeline. As for Iran, despite being subject to stringent US sanctions, it is still advancing the development of its South Pars gas field. Mohammad Me...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
Egypt-Israel Settlement Paves Way For Groundbreaking Gas Shipments
...om the already-producing 11tcf Tamar field (MEES, 23 February 2018). Dolphinus was founded in 2014 by Egyptian businessmen including Khaled Abu Bakr, former CEO of Egyptian power firm Taqa Arabia and current Executive Chairman of the Egyptian Gas Association (MEES, 5 April 2019). POLITICAL BA...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Egypt Gas: Nour Disappoints
...erated West Delta Deep Marine (WDDM) field, where output collapsed from 1.3bn cfd in late 2013 to just 250mn cfd currently, due to Cairo’s demand for more gas (MEES, 7 February 2014). ...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Oman Races Ahead Of Production Target, Diversifies Export Markets
...om oilfield services firm Baker Hughes show the number of active oil rigs averaged 58 for the first five months of 2016, up from 53 in the same period last year and 48 for January-May 2014. The government this month raised $2.5bn from its first international bond issue since 1997 (MEES, 17 June) an...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Qalaa Looks To Trim Debts
...Cairo-based energy-focussed investment firm Qalaa Holdings – formerly Citadel Capital – plans to reduce its debt to E£4bn by the end of 2017, having already reduced its money owed from E£10bn in 2014 to E£6.5bn ($735mn) at present, according to MD Hisham al-Khazindar. Qalaa needs to slash it...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Iran Going The Extra Mile With New Oil Contracts
...clear program fast approaching, and prospects good that a deal could be struck, IOC interest in Iran is again on the rise – just as it was some 12 months ago in the run-up to the first, ultimately missed, deadline of 20 July 2014. Just last week a delegation from Anglo-Dutch major Shell arrived in Te...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
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 -
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 -
KRG Drops Turkish Six-Block Bombshell; Disputed Areas Included
...ded this year with a 48-inch sealine, Mr Ghadhban says. Two more SPMs are being added, which together with expansion at the 400,000 b/d Khor al-Amaya terminal and debottlenecking at the existing 1.6mn b/d Basra terminal should give southern export capacity of around 6.8mn b/d by end 2014, Mr Ghadhban cl...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013 -
Jordan: Gas Needed, No Good Options
...crease electricity tariffs by 15% for users consuming more than 601kw monthly, a figure that encompasses 90% of households according to Jordanian energy ministry estimates. However, following parliamentary pressure, the government’s liberalization scheme was delayed until early 2014. Fuel prices for all pr...
Volume: 56Issue: 25Published at Fri, 21 Jun 2013