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  1. Eni Output Down In Q2 But On Course To Meet 2015 Levels

    ...ws (MEES, 5 August). For instance, on 24 May it declared force majeure on the Brass River crude stream following a pipeline attack. Speaking on the firm’s 29 July Q2 earnings call, CEO Claudio Descalzi attempted to paint a positive picture for investors, looking ahead to 2017 when the firm ex...

    Volume: 59
    Issue: 32
    Published at Fri, 12 Aug 2016

  2. KRG Struggling To Make IOC Payments As Prepayments Dry Up

    ...s committed to. Production is expected to average around 5,000 b/d in the second half of the year. The Sarqala-2 well will provide an output boost, but won’t be spudded until H1 2017. There has been no update on Western Zagros’ other Kurdistan asset, the Repsol-operated Kurdamir block. A field de...

    Volume: 59
    Issue: 32
    Published at Fri, 12 Aug 2016

  3. Iran Lines Up Linde To Design Cracker In Giant 12th Olefin Complex

    ...% by private firm Parsian Oil and Gas, 40% by the government’s Teachers Investment Fund and 2% by private investment firm Hamun Sepahan. Work on the 12th Olefin plant was originally intended to start in 2012, with a view to production start-up in 2017. However, state-owned National Petrochemical Co...

    Volume: 59
    Issue: 32
    Published at Fri, 12 Aug 2016

  4. Morocco Wind Farm Award

    ...the European Bank for Reconstruction and Development (EBRD). EBRD and Banque Marocaine du Commerce Exterieur (BMCE) provided €126mn ($140.9mn) in equal tranches (MEES, 13 November 2015). Vestas says that delivery of the turbines is scheduled for the second quarter of 2017, with commissioning ex...

    Volume: 59
    Issue: 32
    Published at Fri, 12 Aug 2016

  5. Temporary Oil Market Balancing Offset by Record Stocks

    ...mporary. Not just is supply set to overtake demand again in Q4 as refinery maintenance steps up, but the IEA has revised down its expected demand growth rate for 2017 on the back of weakening global economic growth forecasts. The IEA’s July Oil Market Report (OMR) expects demand growth of 1.42mn b/d this ye...

    Volume: 59
    Issue: 32
    Published at Fri, 12 Aug 2016

  6. Algeria’s Trade Balance Worsens As Government Ponders Austerity Policy

    ...onomy, including renewable energy sources, agro-industries, and hydrocarbon and mining downstream industries, the cabinet statement said. The Finance Ministry projects growth at 3.5% in 2016 and 4% in 2017, under the new model. Algeria has already taken some austerity measures by cutting energy su...

    Volume: 59
    Issue: 32
    Published at Fri, 12 Aug 2016