1. Iran Takes Major Step Towards New Contracts. But Will IOCs Bite?

    ...th Iranian crude. More significant however, is French supermajor Total’s signing of an MoU in March to produce a development plan of the 42bn barrel South Azadegan field (shared with Iraq, where it is known as Majnoon). Chinese state-firm CNPC was awarded the field under a buyback contract in 2011...

    Volume: 59
    Issue: 28
    Published at Fri, 15 Jul 2016
  2. 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: 59
    Issue: 28
    Published at Fri, 15 Jul 2016
  3. Israel Switching To Gas From Coal As Tamar Ramps Up

    ...ek suggested that Zohr might be in line for a reserves upgrade (see p5). Noble, Delek and, since last year, BG hold the right to Cyprus’ only gas discovery to date, 5 tcf Aphrodite discovered in 2011 close to the Israeli maritime border. Subsequent exploration by Total and Eni on nearby blocks (in...

    Volume: 59
    Issue: 28
    Published at Fri, 15 Jul 2016
  4. A Tale Of Two OPECs: GCC Drills For The Future, Periphery Slashes Spending

    ...ganization’s share of what Baker Hughes calls its ‘International’ rigcount (excluding North America, China, Russia and the Caspian) has actually risen from 39% to 45% over the same period (see charts 3 & 4).  Opec’s share has risen further over a longer time horizon: it was 32% in 2011. ‘GCC Opec’s rig co...

    Volume: 59
    Issue: 28
    Published at Fri, 15 Jul 2016
  5. OPEC Drilling By The Numbers: ‘Annual Wells Drilled’ From OPEC’S 2016 Statistical Bulletin

    ...sewhere meant that Opec’s share of global drilling has risen from 4.1% in 2011 to 5.2% last year. The global total is boosted by shale developments in the US and Canada, where production in the 10s of thousands of barrels a day can involve 100s of wells....

    Volume: 59
    Issue: 28
    Published at Fri, 15 Jul 2016
  6. Syria: Trauma To Last For Years Even If A ‘Deal’ Is Struck

    ...sewhere, the Kurds hold about 5% of the territory in the north while the government retains possession of most of the west and some parts of the south, where large parts are also held by anti-regime forces. 4.7MN REFUGEES, 7.6MN MORE DISPLACED Since March 2011, the population of Syria, estimated at 22...

    Volume: 59
    Issue: 28
    Published at Fri, 15 Jul 2016