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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