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Chevron Inches Towards Shale-Focused Algeria Entry
...pped to use their expertise to help Sonatrach develop Algeria’s supposedly huge shale gas reserves, which the US Geological Survey estimates at over 700tcf and Algerian officials have pegged higher still (MEES, 20 October 2017). Chevron says that “Algeria holds a world class petroleum system with th...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
KRG Hands Baghdad Oil Sector Counter-Proposal
...om the Federal Court of Canada over 700,000 barrels in June 2017. In both cases, the KRG successfully re-routed the cargos elsewhere to avoid their seizure. Crucially, Iraq and Turkey are still party to lengthy arbitration over the KRG’s utilization of the pipeline to Ceyhan for exports. The le...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Yemen: Political Standoff, Oil Sector Stability
...men’s current output. Volumes are piped to a 3.5mn barrel storage terminal at Ash Shihr, with export sales via tender. Trading giant Glencore emerged as an early buyer (MEES, 15 September 2017), but various other entities have emerged as takers since, with 2mn barrel cargoes lifted every 50 days or so...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
Rising Gulf Tensions Cast Spotlight Back On Iran’s Nuclear Capabilities
...named site in Iran. At the time AEOI was seeking to fabricate fuel rods itself for any new plants in Iran. However, the agency decided it would need to accept an expansion of existing arrangements for using Russian fuel and returning spent rods before work on Bushehr-2 could begin (MEES, 31 March 2017...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Shaikan Output To Double After Deal With KRG
...rqala field in Q3, wrapping up Phase-1 development which has seen output rise from 5,000 b/d in early 2017 to more than 21,000 b/d now; 30,000 b/d by early 2019 looks eminently achievable. Elsewhere, Canadian minnow Oryx announced on 20 June that it has completed the first well at the Banan field wi...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
OMV Tests Yemen Restart
...turn. The country’s miniscule current output mostly comes from state firm PetroMasila’s Blocks 10 and 14 in the eastern Marib basin. This is largely shielded from the conflict and thus able to export about 44,000 b/d from Ash-Shihr port (MEES, 15 September 2017). OMV is clearly less skittish than ot...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Tunisia: Oil Blockades Ease But Costs Keep Rising
...sts for Tunisia continue to mount. From being a net oil exporter as recently as 2010, domestic output fell to a mere 46% of demand for the first four months of 2017 (see table & chart 1). Were it not for the fall in oil prices the situation would be more dire still – indeed for gas, although output is al...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Egypt Ends Forex Controls
...bsidies and streamlining public finances in order to cut the budget deficit. He also expects inflation to fall to just 13% during 2018 from the latest figure of 31%. Egypt’s parliament is currently debating the 2017-18 draft budget which envisages total spending of E£1,206bn ($67bn) and a deficit of E£37...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017