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Israel-Iran Conflict Exposes East Med Gas Interdependence
...e recent conflict provides Chevron with a plausible excuse not to dip into its deep pockets to fund a multi-billion-dollar project like a Cyprus LNG plant; any new Israel conflict would risk depriving the plant of its main feedstock. For Cyprus, Aphrodite, it’s first discovery made in 2011, is no...
Volume: 68Issue: 27Published at Fri, 04 Jul 2025 -
Egypt’s 1H 2022 LNG Exports: Europe Dominant
...Egypt exported 5.34mn tons of LNG for 1H 2022, up 57% on 1H 2021 for the highest first half figure since 2011. Perhaps not surprisingly given global LNG trade dynamics, with Europe sucking in more cargoes as it seeks to cut imports from Russia, the proportion of Egyptian cargoes he...
Volume: 65Issue: 27Published at Fri, 08 Jul 2022 -
Qatar Looks To Bolster Share Of Taiwan LNG Market
...Australia edged out longtime number one Qatar as top LNG supplier to global number five importer Taiwan for the first half of 2021. Qatar has been top in Taiwan for every year since 2011. But its lead over Australia narrowed from 2.3mn tons for 2018 to just 0.4mn tons for 2020. For 1H 20...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Egypt Raises Power Prices, Waiting on Fuel Prices
...vels (see chart 1). For March, household electricity use was 4.62TWh, the lowest March use since 2013 while the previous month’s 4.33TWh was the lowest February figure since 2011. Egypt power demand typically peaks in the sweltering summer months. 1: EGYPT HOUSEHOLD POWER USE FELL TO A MULTI-YEAR LO...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Sparks Fly As Saudi-Emirati Economic Competition Intensifies
...latively recent development. Bilateral relations between the neighbors have traditionally been more fraught, and it was arguably the start of the ‘Arab Spring’ in 2011 which caused their geopolitical priorities to converge. The relationship then deepened with the rise to power of Saudi Arabia’s Crown Pr...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
GCC Rig Count Stuck At 10-Year Low Levels For 1H 2021
...e higher than the 9-year quarterly low seen in Q4 last year (see chart 1 and MEES, 18 December 2020). As such the average figure of 184 for 1H 2021 was the lowest half-year figure since 1H 2011. 1: THE GCC RIG COUNT AVERAGED JUST 184 FOR 1H 2021, THE LOWEST HALF-YEAR FIGURE IN 10 YEARS AND LI...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Libya’s NOC Hopes For The Best, Plans For The Worst
...nching well below its weight. In the five years leading up to the 2011 ‘revolution’ the country’s output averaged 1.65mn b/d (see chart). Mr Sanalla, the National Oil Corporation (NOC) chairman, in a wide-ranging exclusive MEES interview in Vienna on 30 June (see transcript, p9) said “we have more th...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
‘Working 25/7’: Libya’s Oil Chief Sanalla Sits Down With MEES
...fline since the revolution in March 2011. Eight years. So our staff, they did good work for maintenance and we hope that we won’t see any problems. Also our polyethylene plant was offline for a long time. This will stimulate the local economy and will make the harbor operational again. Q: Can you co...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
Libya: Oil Output, Revenue Losses Mount
...untry and have been shut in since the declaration of force majeure at Ras Lanuf and Hariga ports. NOC pegs lost Agoco output at 300,000 b/d, although this is likely an overstatement given chronic power problems have dogged output at the key Mesla and Sarir fields ever since Libya’s 2011 revolution. Za...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018 -
Lebanon’s Recurring Power Nightmare
...re actually from Egypt via the Arab Gas Pipeline (AGP) project (MEES, 26 October 2009). Per the deal’s terms, government officials estimated that if all three units at Deir Ammar were converted to run on gas it would save around $240mn a year with Brent at $75/B. Egyptian gas imports ceased in 2011...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018 -
Libya Oil Output Breaches 1mn B/D
...2017 were 454mn cfd, close to the 464mn cfd average exported in 2016, but down 34% compared to the 2015 average, and barely half of average annual exports between 2008-10 before Libya’s 2011 revolution (see charts). Within these headline figures, monthly volumes have fluctuated significantly. Th...
Volume: 60Issue: 27Published at Fri, 07 Jul 2017 -
Morocco Faces Socioeconomic Headwinds As Deficit Overshoots, Growth Slows
...-Hoceima and Imzouren. Over 100 were arrested. Such instability brings into question Moroccan King Mohammed VI’s response to the Arab Spring protests which shook the region in 2011. A constitutional referendum later that year increased the powers of the elected parliament, though the country re...
Volume: 60Issue: 27Published at Fri, 07 Jul 2017 -
Saudi Electricity Taps China For $1.5bn, Takes Expansion Funding To $33bn
...shore up its finances is also growing, and quickly. SEC’s outstanding government loans increased by 112% from SR18.15bn ($5.03bn) in 2011 to SR39.99bn ($10.66bn) in 2015. SEC is owned 74% by the Saudi government, 7% by state petroleum firm Saudi Aramco, and 19% by private investors. Given the gr...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Egypt Finally Pays Off $7bn Debt To Qatar, Backer Of Previous Islamist Government
...ections that followed the February 2011 ‘revolution’ that overthrew longtime dictator Husni Mubarak. Almost from the start – through a combination of economic incompetence and a lack of support from the financial establishment – Mr Mursi’s government presided over an economy on life support. The country on...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Abu Dhabi Streamlining Creates $135bn Energy Fund With Global Reach
...rgest investments is Spanish firm CEPSA, which it has wholly owned since 2011. Primarily a refining company with three refineries totaling 528,000 b/d of capacity (and actual 2015 throughputs of 434,000 b/d)it lurched to a $1.15bn loss in 2015, more than twice the $465mn loss the previous year. Of 2015 ne...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Iran: Payments Start Flowing But Fear Factor Remains
...ese were tightened further in 2011 which led its roughly $420bn economy to shrink by about 9% in the two-year period that ended in March 2014, according to the IMF. From then until January 2016, when sanctions were broadly lifted in return for nuclear curbs, Iran’s ability to continue trading oil pr...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Opec Data Charts Saudi Refining Surge, But Plans Are Slipping
...art). 2014 vs 2013 2014 vs 2010 2009 2010 2011 2012 2013 2014 '00...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
US Oil Output Hits Record 13mn B/D, But Is This The Peak?
...mbers are up 1.15mn b/d, 1.54mn b/d and 1.56mn b/d respectively on year-ago levels. Since 2011, crude production is up by over 4mn b/d; including NGLs the gains are over 5mn b/d (see table p15 and graph). > But is this the peak? Weekly data for May and June indicate crude output of 9.6mn b/d for bo...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
US Petroleum 2Q 2015 Imports, Exports, Demand (‘000 B/D)
...15 4Q14 3Q14 2Q14 2014 2013 2012 2011 2010 CRUDE OIL IMPORTS 7,020 6,...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Black Friday Attacks Highlight Extremist Threat
...lf Arab states of Kuwait, Saudi Arabia, the UAE and Qatar have been largely spared the upheavals wrought by the 2011 Arab revolutions that toppled their allies and enemies alike and drew them deeper into crises that they could no longer ignore. Yemen, where Saudi Arabia and its Arab allies are en...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015