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Turkey’s ITP Exit Sets Stage For Intensive Talks With Iraq
...ghdad largely emerged as the winner in an arbitration case against Ankara for facilitating independent Kurdish oil exports between 2014 and 2018 (MEES, 31 March 2023). Before the shutdown, the ITP carried up to 400,000 b/d of Kurdish crude and around 70,000 b/d of Federal Kirkuk production to Ceyhan. Th...
Volume: 68Issue: 30Published at Fri, 25 Jul 2025 -
Oman Posts Record Gas Output For 1H 2024
...om 2023’s record 5.0bn cfd. Production has been on a sharp upwards trajectory over the past decade, rising from 3.5bn cfd in 2014 thanks to the commercialization of sizeable unconventional gas deposits. Total gas availability is higher still at 5.4bn cfd, a figure that includes approximately 20...
Volume: 67Issue: 30Published at Fri, 26 Jul 2024 -
China Deals Push Qatar LNG Back To Top Spot
...uivalent to China’s total spot purchases from Qatar over the 2014-2021 period. This was enough to lift spot sales to Asia by nearly 2mn tons to a six-year high 8.5mn tons, with modest gains also registered for spot sales to India and even Japan. Meanwhile, spot sales to Europe edged up by just 35...
Volume: 66Issue: 30Published at Fri, 28 Jul 2023 -
Egypt Blackouts Led By Heatwave, Gas Shortages
...ports of piped Israeli gas. The blackouts bring to an end a near-decade long period of steady electricity. Recognizing the importance of steady electricity supply, President Sisi has invested heavily in upgrading the country’s power fleet since coming to power in 2014, with three CCGTs totaling 14.4GW of...
Volume: 66Issue: 30Published at Fri, 28 Jul 2023 -
Kuwait’s Four Year Government Program Gets Little Support
...position-led assembly, only a handful of MPs showed support, rendering the passage of the approximately 30 proposed laws questionable. One law in particular saw almost unanimous opposition – the contentious Debt Law. Kuwait ran a series of eight consecutive budget deficits (see chart) between 2014/15 an...
Volume: 66Issue: 30Published at Fri, 28 Jul 2023 -
Qatar & Oman Cash In As Asian LNG Buyers See Record Import Bill Even As Volumes Slump
...gures set in 2013 and 2014 when both Korea and Japan took far higher volumes than for 1H 2022 (see chart 2). *One interesting feature of Qatar’s exports to Asia is the sharply different average prices paid for Qatari volumes – both a feature of whether key long-term contracts were struck in a bu...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Kuwait’s Emir Appoints Eldest Son As PM
...nistry of Interior. Prior to his March ministerial appointment, he had served as the Governor of Hawalli province from 2014. He had risen within the Ministry of Interior to become Deputy Interior Minister for Education and Training while holding a Lieutenant General rank. The PM-designate had pursued hi...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
KRG Revenues Up But Dire Finances & Political Disputes With Baghdad Linger
...able to pay state employees on time. In communication with Baghdad the KRG says that “from 2014 to 2019, the Federal Government has not provided [the KRG] its financial entitlements, forcing the KRG to find new sources of financing [prepaid debt] and areas of savings to provide for its expenses, in...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Saudi Oil Export Revenues Soar To $31bn For May
...Saudi Arabia is on track for record oil export revenues this year. May’s $31bn was the highest monthly figure since at least 2014. Diesel flows to Europe are on the up. Saudi oil export revenues climbed to a new post-2014 peak of $31bn in May as the energy giant capitalized on high oil pr...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Egypt’s Mature Onshore Sees Signs Of Output Growth
...s been on an almost continuous downward trend since upstream investment collapsed in 2015 following a halving of oil prices in late 2014 (see chart 1). Cuts to upstream budgets in 1H 2020 delivered a further kick in the teeth (MEES, 31 July 2021) But some smaller producers are beginning to boost in...
Volume: 64Issue: 30Published at Fri, 30 Jul 2021 -
Iran’s Petropars Wins $1.3bn South Azadegan Contract
...rst phase of North Azadegan, but was kicked off of the South Azadegan development for slow progress in 2014 (MEES, 9 May 2014). Since then, Pedec has been responsible for its development. After the previous round of sanctions was eased in 2016 and Iran set about courting IOCs, a number of high pr...
Volume: 63Issue: 30Published at Fri, 24 Jul 2020 -
Kuwait’s Ailing Emir
...bah. But both have been tarnished by their rivalry and appear out of the running (MEES, 4 July 2014). More recently, Sheikh Jaber al-Mubarak’s resignation as Prime Minister last year ended any faint prospect of his potential elevation – he is from a more minor branch of the family. The new PM Sh...
Volume: 63Issue: 30Published at Fri, 24 Jul 2020 -
Kuwait-Saudi Talks Spark Renewed Speculation Over Neutral Zone Restart
...tween the neighboring states, but was shut in over the course of 2014 and 2015 due to disputes over its management. Kuwait’s state news agency Kuna reported that the 24 July talks came amid a series of consultations and coordination over how to restart PNZ production. These discussions have resolved al...
Volume: 62Issue: 30Published at Fri, 26 Jul 2019 -
Qatar Boosts Eni, Total Links With Kenya Entry
...isting work in Oman. QP works less with Total internationally, it has a 15% stake in Total Congo since 2014, while the pair made a discovery offshore South Africa in February (MEES, 8 February). More importantly, Total has a 30% stake in Qatar’s 300,000 b/d Al Shaheen field. CEO Saad al-Kaabi is ad...
Volume: 62Issue: 30Published at Fri, 26 Jul 2019 -
Oman Cuts Deficit, But Oil Dependence Remains
...til the crash in oil prices in 2014, Oman ran near balanced budgets and only had around $4bn in gross debt, or 5% of GDP. But after four hard years of hard borrowing to cover costs and avoid civil unrest (MEES, 23 November 2018), the IMF projects that Oman will exit the year with $49bn in debt (61% of...
Volume: 62Issue: 30Published at Fri, 26 Jul 2019 -
Mauritania: Tullow Quitting
...bsequent finds (MEES, 5 July). Prior to Tortue, Mauritania’s key (albeit more modest) gas find was the 1.5tcf Banda field. However then-operator Tullow shelved development plans after oil prices crashed in late 2014 (MEES, 13 February 2015). The firm hasn’t looked forward in Mauritania since....
Volume: 62Issue: 30Published at Fri, 26 Jul 2019 -
CNPC Hot Favorite In Abu Dhabi Opening As Adnoc Eyes Chinese Downstream
...though it was inaugurated in July 2012, this was largely symbolic (see p10) due to engineering problems which persisted for some time. But all appears to have been forgiven. First CNPC was awarded a 40% stake in the Al-Yasat JV with Adnoc (60%) in 2014. This started producing crude from the offshore Bu...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Upstream Capex Edges Up But Recovery Remains US-Focused
...vestment 2018 report remains almost 40% down on the 2014 peak (see chart). But whether this presages output shortfalls in the years to come remains to be seen: certainly majors and IOCs claim that they are now getting more bang for their buck with their collective investment emphasis having shifted from mu...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Shell Enters Mauritania
...ock C-10 (50-2000ms water depth) surrounds several former discoveries: the Chinguetti oil field, long the country’s sole producer, saw output end in late 2017; the 1.5tcf Banda wet gas field had development plans shelved by then-operator Tullow after oil prices tanked in the second half of 2014 (MEES, 13...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
LNG Start-Ups To Peak, Then Slump
...ne 2016). • Liquefaction investment peaked at $37bn in 2014 according to stats contained in the IEA’s freshly-released World Energy Investment 2018 report. Though long project lead-times mean that investment levels did not fall off a cliff with FIDs, they have been in inexorable decline si...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018