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QP, Exxon Ramp Up Barzan Gas Output
...tended to start up in the first half of 2014 (MEES, 12 October 2012), but a litany of delays pushed this back by a full six years. ExxonMobil only confirmed earlier this year that the $10.3bn project had finally started up in 2020 (MEES, 2 April). QP has now fleshed out the details somewhat in the pr...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Iraq’s Minister Of Oil Parliament Questioning Session Underscores Energy Sector Challenges
...re “close to accuracy” – and added that the ministry had “observations” on Kogas’ performance. Kogas declared force majeure on the field in 2014 as Islamic State overran the area, but after the area was retaken Baghdad became frustrated with the Korean firm’s continued security concerns and sought to br...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Saudi-Kuwait Neutral Zone Back Online
...Saudi Arabia and Kuwait have brought production at their Partitioned Neutral Zone (PNZ) back online after a one-month hiatus (MEES, 22 May). There is now production from both onshore and offshore fields for the first time since October 2014 (MEES, 24 October 2014). After production wa...
Volume: 63Issue: 27Published at Fri, 03 Jul 2020 -
Baghdad-Erbil Oil Sharing Dispute Heats Up
...$13.4bn to the KRG. Kurdish crude tends to sell at an $8/B discount to Iraq crude export price, so at a $54.50/B selling price (the year-to-date average) 250,000 b/d works out to $5bn over 2019. The initial agreement to hand over Kurdish crude in return for revenues was struck in late 2014 wh...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
Iraq Oil Revenues Soar But Stretched Southern Export Capacity Caps Gains
...port revenues – the first time since August 2014 that Iraq has recorded back-to-back months in excess of $7bn. MEES estimates that if export volumes and prices remain stable throughout 2018, Iraq’s annual earnings will be close to 2014’s $84.12bn, though still well shy of 2012’s record $94.03bn wh...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018 -
Saudi-Kuwait Neutral Zone: Supply Concerns Spur Restart Rumors
...2012, falling to 255,000 b/d in 2013 and just 140,000 in 3Q 2014, the last full quarter of production (see chart). Meanwhile, the PNZ’s onshore portion is managed by a JV of KGOC and Saudi Arabian Chevron. Output here averaged 190,000 b/d in 1Q 2015 before operations were halted that May (ME...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018 -
Libya Oil Output Breaches 1mn B/D
...th US firms Marathon, ConocoPhillips and Hess, has also fallen short of NOC targets. The state firm had the Waha consortium down for output of about 120,000 b/d by June, but it has been struggling to produce 80,000 b/d since it came back onstream in September 2014 after a hiatus of almost two years (ME...
Volume: 60Issue: 27Published at Fri, 07 Jul 2017 -
Iraq: Bumper Oil Export Volumes Cushion Impact Of Oil Price Drops
...17 2016 2015 2014 Gulf ('000 b/d) 3,247 +5 +1 3,...
Volume: 60Issue: 27Published at Fri, 07 Jul 2017 -
Egypt: Oil Drilling Uptick On Higher Prices, Output To Follow?
...Independents in Egypt have rapidly responded to rising oil prices. Egypt’s oil output has fallen by 35,000 b/d since peaking at 700,000 b/d in mid-2015. The output record came on the back of sustained high drilling levels – with the country’s oil rig count at around 40 during the whole of 2014...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
Sanctions Aside, Iran Left With Plenty To Do Ahead Of Upstream Opening
...ercome most, if not all, of the buyback’s shortcomings (MEES, 19 June). WORLD GAS RESERVES BY COUNTRY (TCM) 2014 % of total 2010 2000 Iran 34...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Algeria’s Energy Thirst Appears Unquenchable - And Unsustainable
...ns in 1H 2014 (MEES, 12 December 2014). With the completion of Sorfert, Algeria’s total nameplate fertilizers and methanol capacity is around 3.94mn t/y (MEES, 19 December 2014). Gas requirements from fertilizer plants are expected to grow further this year. Sonatrach’s Al Djazairia Al Omania Li...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Petroceltic Struggles To Bridge Funding Gap
...the start of the year. The firm now forecasts 14,000-15,000 boe/d for 2015, well below not only 2014’s 22,500 boe/d, but also its January’s previous 16,600-18,500 boe/d 2015 forecast (see table). Egypt, where the 2015 output forecast has been slashed by 3,000 boe/d since January, accounts for 85% of...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Erbil-Baghdad Deal Teeters As KRG Cuts Oil Supply To Somo, Plans Bonds
...had increased independent oil sales due to what it said in a statement was “the significant debt backlog" arising from the budget cuts of 2014 imposed by the federal government and the need to pay down debts accumulated in 2014 from prepayments for oil sales. The region's financial difficulties, it...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Egypt Hopes To Attract IOCs To Its Western Mediterranean Waters
...elds, leading to a decline in the gas production rate and an inability to connect compensatory wells.” The ministry had expected gas output to hit 5.4bn cfd during the July 2014-June 2015 fiscal year. But output for the first nine months (ie to April 2015) averaged just 4.57bn cfd. According to th...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Libyan Oil Sector Buckles Under Protester Pressure
...illing, slated to begin in October 2014. NOC is hoping BP’s three-year, five well-offshore drilling campaign will establish a new gas producing province. Current Libyan Crude Output (MEES estimates)- Total 1.06 mn b/d Company Foreign pa...
Volume: 56Issue: 27Published at Fri, 05 Jul 2013