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Aphrodite Advancing
...wMed estimates first gas at Aphrodite for 2031, a date which has irked Cypriot authorities who believe the field, discovered in 2011, could be developed sooner. NewMed and Chevron are also partners in Leviathan, where the Israeli company has a 45.34% stake. Chevron’s Mr Nelson also hinted that th...
Volume: 68Issue: 32Published at Fri, 08 Aug 2025 -
Eni, BP Sign Egypt Deal Ahead of Exploration Drilling
...at the exploration well Eni and BP are planning will be in the Denise development lease and has been on the cards for some time. The well will be drilled before the end of the year. Output from the Temsah concession peaked at more than 1bn cfd in 2011 and 2012, but dropped to just 60mn cfd in 20...
Volume: 68Issue: 32Published at Fri, 08 Aug 2025 -
Libya Expects Breakthrough Decision On Frozen Assets By End-2024
...hmoud Hassan expecting the sign-off by the end of 2024. The UNSC in October extended the mandate of the Panel of Experts – tasked with implementing Libya sanctions including the asset freeze since 2011 – until 15 February 2025, with the intent to provide the Council with a final report “no later th...
Volume: 67Issue: 32Published at Fri, 09 Aug 2024 -
Eni Makes ‘Big But Not Massive’ Cyprus Gas Discovery
...prus’ fourth gas discovery to-date following 2011’s 4.1tcf Aphrodite find by US firm Noble (now Chevron), 2018’s Calypso and ExxonMobil’s 5-8tcf, 2019 Glaucus. As yet though, the country does not produce any gas although it is hoping that negotiations with Chevron (35%) and its Aphrodite partners, Sh...
Volume: 65Issue: 32Published at Fri, 12 Aug 2022 -
Sabic: Record Q2 Figures, But Outlook Crimped By Global Economic Headwinds
....93bn for Q2 with both of the key units – Petrochemicals & Specialities, and Agri-Nutrients – seeing record quarterly figures. Prorating 1H revenue of $28.97bn would give a figure of $58.4bn for 2022 as a whole, substantially above the record annual figure of $50.7bn set in 2011. Doing the same for 1H...
Volume: 65Issue: 32Published at Fri, 12 Aug 2022 -
New Iran Cabinet Brings Back Shades Of Ahmadinejad
...ree branches of government: the presidency, parliament and judiciary. OWJI FOR OIL For the high-profile petroleum ministry, Mr Raisi nominated Javad Owji, who served under the former ultra-conservative petroleum minister Rostam Ghasemi as deputy minister from 2011 to 2013. His former boss had be...
Volume: 64Issue: 32Published at Fri, 13 Aug 2021 -
Saudi Aramco’s Master Gas System: A Work In Progress
...twork last year (MEES, 26 May 2020). SAUDI ARABIA: KEY POWER INFRASTRUCTURE SAUDI ARABIA SALES GAS* OUTPUT HAS BEEN CONSISTENTLY CLIMBING YEAR-ON-YEAR (BN CFD)*CONVERTED FROM BTU TO CFD UNTIL 2011. SOURCE: SAUDI ARAMCO, MEES....
Volume: 64Issue: 32Published at Fri, 13 Aug 2021 -
Egypt’s Debts To IOCs Again On The Rise
...rther investment as it did in the years following the 2011 revolution. Egypt has turned again to the IMF for $8bn, bagging $2.8bn via a rapid financing instrument (RFI) and the initial $2bn of a hastily-arranged $5.2bn Stand-by Arrangement (MEES, 12 June). This saw the country’s foreign reserves ri...
Volume: 63Issue: 32Published at Fri, 07 Aug 2020 -
Turkey’s Plan For The East Mediterranean: Disrupt, Stir Up, And Provoke
...y. CLAIMS AND COUNTERCLAIMS IN THE EASTERN MEDITERRANEAN GUNBOAT DIPLOMACY Turkey certainly aims to show it means business. Since the 2011 discovery of the 4.2tcf Aphrodite field by US firm Noble Energy in RoC-awarded Block 12 - and the subsequent 2018 Calypso and 2019 Gl...
Volume: 62Issue: 32Published at Fri, 09 Aug 2019 -
Lebanon Bid Round: Second Time A Charm?
...d not scare off the consortium, but adjacent Blocks 8 and 10 went bid-less. Five blocks were not tendered in the first round, so Lebanon has a total of eight it can offer up. The political situation is still more stable than 2011-16 when spillover from Syria was a critical concern, so if in...
Volume: 61Issue: 32Published at Fri, 10 Aug 2018 -
Turkey Plans East Med Drilling: Politics Over Geology?
...unters with either military muscle or by stepping up its own ‘plans’ for hydrocarbon exploration. This was the case back in 2011 when US firm Noble began drilling Block 12 off southeast Cyprus (MEES, 26 September 2011), and Turkey further ramped up the rhetoric after Noble’s drilling resulted in the 5tcf Ap...
Volume: 61Issue: 32Published at Fri, 10 Aug 2018 -
Iraq Makes Progress On Chronic Gas Shortage
...e lowest since 2011. The upshot was that sales gas volumes soared 55% to more than 1bn cfd for the first time. The gains were largely driven by the Basra Gas Company (BGC: South Gas Company 51%, Shell 44%, Mitsubishi 5%) which processes natural gas produced from three fields in Basra province – BP...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Egypt Advances $29bn Nuclear Plant
...0 Iran-Bushehr-1 2011 1.0 1 3.5 Under Construction 6....
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
Eni Output Down In Q2 But On Course To Meet 2015 Levels
...turning to Iran’s upstream sector. The lion’s share of receivables come from cash-strapped and crisis-hit Venezuela which owes the firm some €1.234bn. There does not appear to be an end in sight for the South American country as crude output fell to 2.27mn b/d in July, the lowest since April 2011. Th...
Volume: 59Issue: 32Published at Fri, 12 Aug 2016 -
Tunisia Launches $500mn bond
...cured a favorably low yield of 1.416% per annum thanks to the US guarantee. This is the fifth time that Tunisia has tapped the international debt market since the ouster of former dictator Zine al-Abidine Ben Ali in January 2011. Tunisia, the first country to usher in the ‘Arab Spring’, is struggling to co...
Volume: 59Issue: 32Published at Fri, 12 Aug 2016 -
EU-Algiers Political Efforts Out Of Touch With Market Realities
...e Transmed pipeline averaged around 780mn cfd in Q2 2014, down from 840mn cfd a year ago. This was higher than 632mn cfd in Q1 2015. ALGERIA’S PIPELINE GAS EXPORTS (bcm /y) 2011 2012 2013 20...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Egypt Signs Deals For CDU, Diesel Units In Push To Meet Rising Demand
...163,000 b/d in 2011 – when the Mubarak regime was overthrown and Egypt’s economy went into decline – diesel output averaged 150,000 b/d in the first five months of 2015, compared with 142,000 b/d in 2014. The recovery in domestic diesel production appears to be keeping the need for imports in ch...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Libya Looks To Recover Overseas Cash
...rgesse with the aim of garnering support. Post-Qadhafi’s 2011 downfall this has left the LIA with a haphazard portfolio of investments across more than two dozen African countries, mainly in the telecoms, agriculture, mining and hotel sectors. The move against the four countries – Rwanda, Chad, Za...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Jordan Taps Bumper Aid; IMF Praises Energy Policy
...a downward path. He also said there is a need to implement structural reform geared to job creation, labor market reform and improvement in the business climate. Jordan was badly hurt when the flow of Egyptian gas, which fuelled electricity generation in the kingdom, was severely reduced after the 2011...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Egypt Receivables Hit Record $7.5bn
...riod. ^Petronas Numbers Are Estimated Based On Those For Partner BG. Source: Company Reports And Filings, MEES Calculations. ENI Egypt Production (Net) 2010 2011 2012 20...
Volume: 57Issue: 32Published at Fri, 08 Aug 2014