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Egypt Pledges To End Energy Subsidies Within 12 Months
...nister and central bank chief blame “persisting financial difficulties in view of higher than expected oil prices,” for slow progress in cutting Egypt’s dues but repeat that Egypt “remains committed to fully eliminating arrears by end-June 2019.” The biggest dent in receivables was made in July 2014 wh...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018 -
GCC States Double Down On Gas Development
...M) 2007 2008 2009 2010 2011 2012 2013 2014...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Delayed Projects To Shave Cumulative 80bcm From Algeria’s Gas Output By 2020
...e SWGP, has been delayed even more than that of its neighbors. The field will join two other fields handed over to Sonatrach by IOCs in 2014-15 after a failure to agree terms: Hassi Ba Hamou and Hassi Mouina. The three fields together make up what is now being described as SWGP phase 2. Hassi Ba Ha...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Cyprus: Total Spuds Key Wildcat As Unification Talks Collapse
...rrying out the exploration have been a regular occurrence (MEES, 24 October 2014), on this occasion they have been given extra spice by the breakdown in re-unification talks only days earlier. “It is impossible to appreciate that some energy companies are acting with, and becoming part of some ir...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Syria’s Ongoing Conflict Inflicts Huge Loss Of $226bn To GDP
...oups. According to the report, IS was producing, refining and selling as much as 50,000 b/d in November 2014, but later estimates put this figure at a maximum of 40,000 b/d in October 2015. By September 2016 the US-led coalition claimed that it had struck 2,638 oil infrastructure targets primarily in Sy...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Iran Takes Major Step Towards New Contracts. But Will IOCs Bite?
...11, but its lack of activity caused Iran to hook it from the field in 2014 with production at 50,000 b/d, well shy of the planned 320,000 b/d. IRAN POST-SANCTIONS UPSTREAM AGREEMENTS WITH FOREIGN FIRMS TOTAL CRACKS ON Total is at the forefront of IOCs in line for an IPC. It ma...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
KRG Crude Revenues Set To Edge Higher For 2016
...ivate Kurdish firm Kar. Kar operates the Khurmala dome of the Kirkuk field, and has also operated the Avana Dome and nearby Bai Hassan field following the KRG’s seizure of contested territory from so-called Islamic State in 2014. Kar President Baz Karim said in December the firm plans to increase co...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Qatar LNG: More Sales To Europe But Flexibility The Key
...tight supply, such as following Japan’s Fukushima nuclear disaster in 2011, they have been able to divert cargoes from Europe to higher-priced markets in Asia. But since 2014 less Qatari LNG has been redirected to Asia due to slow demand growth and increased supplies including from Papua New Gu...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Iraqi Refining Runs, Gasoline Output At 9-Year Low Despite Progress Against IS
...roughputs for April and May – at 354,000 b/d and 362,000 b/d respectively – were the two lowest figures since 2007. Until early 2014 refineries in the north of Iraq provided over half of the country’s products output: for 2012 northern runs were 345,000 b/d versus 241,000 b/d for the south (see chart). Bu...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Israel Switching To Gas From Coal As Tamar Ramps Up
...sit by anyone holding his office for almost a decade. Although discussions centered mainly on the Israeli-Palestinian issue, the visit signals Egypt’s improving relations with Israel. Whether that will be enough to greenlight two Letters of Intent (LOI) signed in 2014 between the partners of the Ta...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
A Tale Of Two OPECs: GCC Drills For The Future, Periphery Slashes Spending
...nths since then Saudi oil minister Ali Naimi told MEES that his country was committed to a policy of maximizing market share for “highly-efficient…low-cost” producers, however long this took – “two years, three years, God knows” – and whatever the effect on oil prices (MEES, 18 December 2014). De...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
OPEC Drilling By The Numbers: ‘Annual Wells Drilled’ From OPEC’S 2016 Statistical Bulletin
...lls % 2014 2013 S. Arabia 616 +78 +14.5 538 42...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Syria: Trauma To Last For Years Even If A ‘Deal’ Is Struck
...frastructure. Crude oil production in government-controlled areas has dropped to about 9,000 b/d in 2014 from 386,000 b/d in 2010. Total crude oil production is higher when factoring in output from fields under rebel control, which is then sold on the black market, including to the two 120,000 b/d capacity st...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Kuwaiti Oil IPOs: An Unlikely Prospect
...eld, after having previously secured a TSA to work on the field in November 2014 and in March announced a vague agreement “to study opportunities for joint investment” domestically and internationally (MEES, 1 April). Shell meanwhile has one ETSA to develop the heavy Ratqa field – which will de...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Cairo Edges Closer To Paying International Gas Prices
...cline, falling from 3.4bn cfd to 2.4bn cfd between the start of 2014 and April 2015 – and this with the Eni-operated Denise-Karawan (DEKA) fields, ramping up from August 2014 start-up to 460mn cfd in the meantime (MEES, 29 May). The Italian firm has been stalling on plans to invest $5bn in developing ad...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Jordan Enjoys Cheap LNG Prices, But For How Long?
...ices stayed at 2014 levels ($99/B for Brent) throughout the next decade, savings from LNG could exceed $400mn/year (1.3% of GDP), he says. Also, longer term, LNG’s relative competitiveness could increase, if the terms of the supply contract were adjusted to take account of lower oil prices once the in...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Algeria Pushes New Refineries Beyond 2020, Fuel Deficit To Worsen
...nts to expand its refining capacity to meet domestic demand growth and produce oil products in line with European standards. Demand grew by 7.4% in 2014 and strong growth is expected to continue with Algiers insisting that it will not cut oil product subsidies (MEES, 3 July). Algeria’s total oil pr...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Oman Turns To Sun For EOR And Rural Electricity
...ojects under development by PDO. It is among the four most advanced, along with Qarn Alam (steam), Harweel (miscible) and Marmul (polymer). PDO is looking to EOR to help maintain its crude oil production at 550,000 b/d (MEES, 5 September 2014). MIRAAH BY NUMBERS PDO says the Miraah plant will de...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
OPEC Output Keeps Rising In June To Hit 38-Month High
...posed 30mn b/d production ceiling since May 2014, and above 31mn b/d since March this year. But while this Opec ‘over-production’ shows no sign of abating in the months ahead, particularly when one factors in the Iranian upside should a nuclear deal materialize, a slowdown in US output growth since Ma...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
A New Deal For South Sudan
...rtfolios. The government will retain a majority (53%) of central government positions, and a group of 10 former SPLM party members who were detained for a period in 2014 on charges of plotting against the government, known as the SPLM former detainees (SPLM-FD; or G10), will take 14% of the positions. Pr...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015