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Kurdistan Looks To Terminate Genel’s Gas Development Contracts
...ese negotiations remain ongoing.” There is however scope for a compromise. When finalizing the PSCs and Gas Lifting Agreements (GLA) for the two fields in February 2017 (MEES, 17 February 2017), Genel highlighted options following any termination. “During the three-year period following such a te...
Volume: 64Issue: 33Published at Fri, 20 Aug 2021 -
Oman Advances Its 2021 Bid Round
...ltiple bid rounds in recent years. Block 49 was awarded to Sweden’s Tethys in 2017 (MEES, 24 November 2017) and it last year farmed out a 50% stake to US shale specialists EOG Resources (MEES, 13 November 2020). Last year’s Thameen-1 well on Block 49 was ultimately disappointing with no flows re...
Volume: 64Issue: 33Published at Fri, 20 Aug 2021 -
Saudi 1h 2021 Oil Dynamics: Refining Prioritized Over Crude Exports
...ude oil being burned in power plants. Crude burn always rises seasonally, but June’s 586,000 b/d was up more than 100,000 b/d year-on-year, and was the highest June figure since 2017 (see chart 3). While the tapering of production cuts ought to have boosted associated gas production, the impact on cr...
Volume: 64Issue: 33Published at Fri, 20 Aug 2021 -
Iran Halts Power Exports To Iraq As Baghdad Struggles To Curb Attacks On Pylons
...66bn cfd earlier this year, flows now stand at just 800mn cfd, of which around 700mn cfd is to central Iraq and the remainder to Basra. Even at 1.66bn cfd, flows were well down on the 2.47bn cfd contractual obligation. Iran-Iraq gas flows averaged 1bn cfd for 2020. Flows started in 2017 with the op...
Volume: 64Issue: 33Published at Fri, 20 Aug 2021 -
Qatar Exports To GCC At Multi-Year High
...the embargo, and only reluctantly agreed to end it, Qatari exports to the emirates were never halted and continued at around $250-400mn each quarter due to the UAE’s dependence on piped Qatari gas (see chart 1). Now, exports to the UAE have topped $1bn for the first time since 1Q 2017 – the la...
Volume: 64Issue: 33Published at Fri, 20 Aug 2021