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KRG: Chevron, Genel Press Ahead At Sarta Despite Water Ingress
...latively painlessly. But, given the track record of similar issues elsewhere in Iraqi Kurdistan, it is clearly worth watching. Indeed, Genel is well aware of this given that water-cut issues at its Taq Taq field contributed to massive decline rates (MEES, 31 March 2017). Taq Taq output peaked at 13...
Volume: 64Issue: 31Published at Fri, 06 Aug 2021 -
Algeria: Key Oil Fields At 20-Year Low
...,000 b/d for 1H 2021 is up on 2020 but well down on typical 2017-18 volumes, echoing the long-term decline in the field’s gas output. In Salah, a second project grouping BP and Equinor with Sonatrach, is also in long term decline (see chart). *Algeria knows that it needs to attract more IOC in...
Volume: 64Issue: 31Published at Fri, 06 Aug 2021 -
Japan Crude Imports: Q2 Sees Record Murban Buying
...ngdom on pace to beat the annual record of 40.1% set in 2017. *Japan is under renewed Covid restrictions with cases at their highest level since the start of the pandemic. With the country’s oil imports already on a long-term downward trend, this year is on track to see the lowest imports si...
Volume: 64Issue: 31Published at Fri, 06 Aug 2021 -
Qatar Export Revenues Soar To Highest Level Since 2018
...tal exports. Total gas export volumes this year are running at their highest level since 2017. The latest Jodi statistics show that Qatar has exported 57.18 bcm over the first five months of the year, equating to an average of 15.3bn cfd (see chart 2). Piped gas through the Dolphin pipeline to the UA...
Volume: 64Issue: 31Published at Fri, 06 Aug 2021 -
Iraqi Oil Revenues At Highest Since 2019: Is This Enough To Stabilize The Economy?
...nuary 2017 providing a boost to prices, reserves gradually recovered to hold at more than $65bn in 2019, before dropping sharply in 2020 amid the Covid-19 pandemic. However, the low-point in this cycle was a more modest $55.1bn in November. In addition to currency devaluation, which Mr Allawi re...
Volume: 64Issue: 31Published at Fri, 06 Aug 2021 -
UAE Extradites Former Sonatrach Chief
...rrant related to alleged corruption surrounding the December 2018 purchase of a 200,000 b/d refinery in Augusta, Italy from ExxonMobil (MEES, 11 May 2018). Ould Kaddour was Sonatrach CEO from March 2017 to April 2019, with his ouster coming three weeks after that of former president Bouteflika to wh...
Volume: 64Issue: 31Published at Fri, 06 Aug 2021