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Baghdad-Erbil Oil Sharing Dispute Heats Up
...en Mr Abd al-Mahdi was oil minister (MEES, 5 December 2014). The deal didn’t last long as Iraqi funds failed to make their way to Erbil. Relations hit rock bottom when Iraqi Kurdistan voted to secede from Iraq in 2017 (MEES, 29 September 2017), and federal forces retook territories that included 28...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
BP Boosts Tortue Reserves With Drilling Success
...arf even Tortue (MEES, 14 December 2018). However, though BP reckons Greater BirAllah is potentially the biggest of the three planned hubs, at least for the moment Yakaar Teranga is ahead in the development stakes, with two successful wells drilled: Teranga-1 in May 2016 and Yakaar-1 in June 2017, bo...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
Energean Hits East Med Major League With Cut-Price Edison Purchase
...e in Egypt and Algeria. It operates the 270mn cfd Abu Qir field off Alexandria, and has 11.25% of the 280mn cfd Repsol-operated Reggane North development in southwest Algeria which started up in late 2017 (MEES, 22 December 2017). Both dwarf Energean’s current production of just 4,100 b/d, all fr...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
Opec Production Purgatory: Cuts And More Cuts With No End In Sight
...nister Suhail al-Mazrouei warned in 2017 that there “is too much fluctuation within one year. It is not healthy for producers, and it is definitely not healthy for consumers. We need some sort of stability” (MEES, 17 November 2017). He reiterated the message this week in Vienna, saying “once we are cl...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
Aramco Pushing Asian Downstream Projects In Major Crude-Buying Countries
...pacity of 2.68mn b/d, of which Asia refineries dominate with 2.04mn b/d. Aramco also operates the 635,000 b/d Motiva Port Arthur refinery in Texas, having bought out former JV partner Shell (MEES, 10 March 2017). Because of Aramco’s now outright ownership, Port Arthur is its largest overseas downstream as...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
Abu Dhabi Adds Solar Giant To Powergen Fleet
...S BURN HAS STEADIED (TWH) NUCLEAR DELAYS Abu Dhabi state nuclear firm Enec is developing four nuclear reactors with combined capacity of 5.6GW at Barakah on the coast 50km west of Ruwais. Start-up of the first unit was expected in 2017, with the others following at yearly in...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
DP World Buys Services Firm
...re Caspian Sea market but also in the Mena region and West Africa. DP World itself was the subject of the Gulf’s largest ever IPO, after the Dubai government floated 19.55% on the Dubai exchange in 2007. This raised $4.22bn to value the company at $21.58bn. Among the largest Gulf IPOs since are 2017...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019