- Sort by:
- Score
- Published ▼
-
BP Sets Sights On Expanded Libya Operations With New MoU
...riodically expressed a desire to exploit over the past decade (MEES, 30 May 2014). In 2014, NOC’s then-chairman Mustafa Sanalla spoke optimistically about Libya’s unconventional oil and gas potential. He said that “a lot of homework will be done to evaluate these resources,” but since then NOC has lacked the re...
Volume: 68Issue: 28Published at Fri, 11 Jul 2025 -
Algeria Adds Power Capacity
...rea had previously indicated 2025 completion for the project (MEES, 7 January 2021). When awarded in 2014 the target for completion was 2017....
Volume: 67Issue: 28Published at Fri, 12 Jul 2024 -
Egypt Gas Woes Continue As Output Slumps At BP’s Raven
...ases, output peaked at 2bn cfd in 2008 but had halved by 2014, with output now just 300mn cfd. Shell is moving ahead with Phase-10 and Phase-11 of the project but here any additional output will be offset by decline and the project may struggle to make it past the end of this decade. At Zohr th...
Volume: 67Issue: 28Published at Fri, 12 Jul 2024 -
Algeria Oil & Gas Revenues Fall Back From Record 2022
...*Algerian state firm Sonatrach earned $21bn in oil and gas export revenues for the first five months of 2023. On an annualized basis this equates to $50.8bn, well down from 2022’s 9-year high $60bn, but is still the second highest since energy prices tanked in late 2014 (see ch...
Volume: 66Issue: 28Published at Fri, 14 Jul 2023 -
Egypt Rig Count At 8-Year High As Western Desert Activity Ramps Up
...e highest since December 2014. However, to date there is little sign of an increase in output. Despite Apache and the Capricorn/Cheiron JV having focused drilling on oil-rich prospects rather than less remunerative gas (MEES, 30 June), the region’s oil output has yet to pick up: the latest figure of 28...
Volume: 66Issue: 28Published at Fri, 14 Jul 2023 -
Libya’s Oil Sector In Turmoil After NOC Head Ousted
...pacity since May 2014, has refused to acknowledge the order which was made public on 13 July. He says he is still the official head of the firm and that all NOC subsidiaries still answer to him. The episode is just the latest in an increasingly complex and fluid power struggle be...
Volume: 65Issue: 28Published at Fri, 15 Jul 2022 -
Algeria’s Finances: Oil Revenue Windfall To The Rescue
...After years of low oil prices and dwindling state coffers Algeria is set for its best year since 2014 in terms of oil export revenues. Algeria’s state finances are on the up on the back of surging oil prices which have already resulted in a 75% increase in gross oil export revenues in...
Volume: 65Issue: 28Published at Fri, 15 Jul 2022 -
Egypt Gas Output Slumps On Zohr Outages
...bruary’s record low (MEES, 9 April). Sustained falls in oil output have come as firms slashed spending following 2014’s oil price slump and then again last year (MEES, 12 February). Key Western Desert producer Apache says it hopes to raise investment in the second half of this year, with output growth to...
Volume: 64Issue: 28Published at Fri, 16 Jul 2021 -
Korea Crude Imports 1H 2021: Mideast & Opec Share At Record Low
...cades. This comes as overall volumes for the world’s number four crude importer fell by 5.4% to average 2.58mn b/d for 1H 2021, the lowest first half figure since 2014. Whilst Korea’s oil demand continues to be suppressed by Covid – and movement restrictions have been increased in recent weeks with fears of...
Volume: 64Issue: 28Published at Fri, 16 Jul 2021 -
Iraq: Is China’s UEG Finally Ready To Realize Block 9’s Potential?
...ERGY GROUP: IRAQ ASSETS DEVELOPMENT STRATEGY When first discovered in 2014 Faihaa – itself an extension of Iran’s 112,000 b/d Yadavaran field (see map) – was touted as the “largest discovery in Iraq in the last ten years” (MEES, 12 September 2014), although it has since been eclipsed by Lu...
Volume: 63Issue: 28Published at Fri, 10 Jul 2020 -
Satorp Gets Cracking With Amiral Petchems Integration
...el, LPG, aromatics, propylene and petroleum coke. It was started up in two phases and reached initial full crude distillation capacity of 400,000 b/d in 2014 (MEES, 24 October 2014). Satorp has since been debottlenecked, first to 440,000 b/d in 2018 and again to 460,000 b/d throughput capacity ea...
Volume: 63Issue: 28Published at Fri, 10 Jul 2020 -
The Terror Risk To Tunisia’s Tourism Industry
...llion in 2014 to 5.4 million in 2015, and foreign currency earnings tumbling by 43% to $1.2bn (see chart). And while arrivals began to recover again after 2015, major European tour operators only just started to return last year after foreign government travel warnings were eased. Improved se...
Volume: 62Issue: 28Published at Fri, 12 Jul 2019 -
Algeria Adding Powergen Capacity, But Big CCGT Progress Piecemeal
...ojects in 2012, at Ain Arnat and Ras Djinet, with six more following in 2014. None has yet been declared fully operational and the rates of progress vary widely. Sonelgaz, which is constrained by government policy preventing it from seeking outside investment, can only pay contractors when it has cash in ha...
Volume: 62Issue: 28Published at Fri, 12 Jul 2019 -
End In Sight For Egypt’s Fuel Subsidies
...Egypt has ended fuel subsidies for the majority of oil products, bringing an end to four years of reform that has seen the average price of gasoline almost triple and diesel prices rise by a whopping 514% in local currency terms, since Cairo began removing subsidies on oil products in June 2014...
Volume: 62Issue: 28Published at Fri, 12 Jul 2019 -
Kuwait Eyes Huge 2019-20 Budget Deficit
....7% of GDP. The expiry of the government’s authority to issue debt means it has had to tap into the General Reserve Fund (GRF) to finance deficits since 2014, and Finance Minister Nayif al-Hajraf has warned that the fund is suffering from a shortage of liquidity and requires a replenishment of fi...
Volume: 62Issue: 28Published at Fri, 12 Jul 2019 -
Egypt Misses Receivables Deadline Again
...uld fully eliminate receivables by end-June 2019 (MEES, 12 April). It is not the first time Egypt has missed a self-imposed deadline, with former oil minister Sharif Ismail stating in 2014 that Cairo would completely pay off IOCs by the end of 2016. Nonetheless, Egypt has made good progress in pa...
Volume: 62Issue: 28Published at Fri, 12 Jul 2019 -
China Puts Oil Center Stage Of Middle East Strategy
...rvices arm Sinopec International Petroleum Service Corp. The firm this month signed a $1.06bn five-year contract, extendable by one year, with another KPC subsidiary KOC. Sinopec’s service arm first entered Kuwait in 2008 and this latest deal effectively replaces a $1.15bn 2014 contract. The UAE wa...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018 -
Libya: Terminals Reopen, Instability Remains, Haftar Strengthened?
...Egypt, the UAE and to an extent Russia. The US responded to an attempt by Mr Jathran to sell an illicit crude cargo in March 2014 by intercepting the North Korea-flagged vessel (MEES 21 March 2014), but “the Americans will never ever stop a Russian – or Egyptian or UAE – flagged ship,” says Pu...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018 -
Syria: Key Crossing Open
...uckers would embark on the five-hour Beirut-Amman trek despite the ongoing civil war, but when the crossing closed, it stymied exports. Customs data show that export volumes at the Masnaa crossing on the Beirut-Damascus highway fell from $495mn in 2014 to $103mn in 2016—a key reason why total Lebanese ex...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018 -
Algeria: Reserves Slump To 12-Year Low, But Country Has Bigger Problems
...e country’s finances. Instead Algiers has opted for the highly-inflationary path of printing money to finance the country’s expected $19bn 2018 deficit (a cumulative $80bn since 2014 – MEES, 19 October 2017). A temporary ban on a whole swathe of imports is Algeria’s other key ‘alternative’ economic me...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018