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Neutral Zone Output Steady As Partners Seek Capacity Gains
...4,000 b/d (MEES, 31 January). That was the last full year of production before fields were shut from late-2014 onwards amid disagreements over management between Saudi Arabia and Kuwait (MEES, 24 October 2014). Operations are now in full swing after that prolonged shut-in, with expansion work underway. Mu...
Volume: 68Issue: 34Published at Fri, 22 Aug 2025 -
Anbar Power Plants To Build Case For Akkas Gas?
...t the country’s ongoing political stalemate has prevented any contracts from being signed. Akkas, located in Iraq’s western Anbar province was originally to be developed by Korea’s Kogas under a 2010 contract. But instability in the region deterred Kogas, and the firm declared force majeure in 2014...
Volume: 65Issue: 34Published at Fri, 26 Aug 2022 -
Saudi Arabia Rockets Towards $250bn Trade Surplus
...RTHER Saudi Arabia is investing heavily to diversify its revenues and has successfully built up its tax base, but when it comes to export revenues, oil remains dominant at some 80% of the total. And oil revenues climbed to their highest level since at least 2014 in June according to the latest go...
Volume: 65Issue: 34Published at Fri, 26 Aug 2022 -
Power Struggles Threaten Libya’s Oil Rebound
...e east and west. This was the story of Libya between 2014 and 2021. DIVISION REDUX? The eastern-aligned speaker of the country’s parliament, Aguila Saleh, has already suggested a rival government could be set up in the east in the absence of a vote. And last week Mr Saleh accused the Pr...
Volume: 64Issue: 34Published at Fri, 27 Aug 2021 -
Libya Eyes Mabruk Field Redevelopment
...Libya’s Mabruk Oil Operations this month presented a redevelopment plan for the 34,000 b/d Mabruk field which has been offline since 2014 due to an Islamic State attack (MEES, 6 March 2015). Mabruk Oil, a 49:51 JV between France’s TotalEnergies and NOC, says it aims to restart the field in Oc...
Volume: 64Issue: 34Published at Fri, 27 Aug 2021 -
Libya’s Eastern Power Cuts Force Haftar’s Hand
...A imposed a nationwide oil-blockade aiming to put pressure on the Tripoli-based Government of National Accord (GNA) it seeks to overthrow (MEES, 24 January). Libya has had two rival eastern and western administrations since 2014. As a result of the blockades, the eastern terminals of Es Sider, Zu...
Volume: 63Issue: 34Published at Fri, 21 Aug 2020 -
Kuwait Completes First Package Of Mina Abdullah CFP
...oduction of Euro 5 specification fuels. Contracts worth $12bn were awarded in 2014 with construction work scheduled to be completed in late-2017 (MEES, 14 February 2014). After years of delays CFP is now approaching completion. The latest landmark came as US contractor Fluor announced on 18 August that it...
Volume: 63Issue: 34Published at Fri, 21 Aug 2020 -
Saudi Oil Sector Creaking Amid Heavy Opec Cuts And Summer Demand
...06 to 2016” (MEES, 30 November 2018). Volumes are on track to increase some 34% to more than 1.5mn b/d over the course of the year and MEES estimates that the kingdom shipped more than 1.6mn b/d to China last month. Meanwhile the US, which was the largest importer of Saudi crude as recently as 2014...
Volume: 62Issue: 34Published at Fri, 23 Aug 2019 -
Algeria: More Output Declines, More Protests
...ficit for the first half of the year brings the total deficits racked up since the 2014 oil price crash to a whopping $53.1bn. Highlighting just how dependent Algeria is on its energy sector is the fact that the 6.6% year-on-year fall in export revenues in the first half was exactly the same as the fall in...
Volume: 62Issue: 34Published at Fri, 23 Aug 2019 -
Libya: Fractured Institutions Fail To Distribute Oil Revenue Gains
...anches of Libya’s key economic institutions in Tripoli and the east of the country to cooperate (see box): a trick that since the 2014 split in the country’s government neither the UN Libya mission nor the institutions that it has backed have managed to pull off. ...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Libya’s Ongoing Institutional Splits
...Tripoli. But following the split in the government in 2014, a rival branch was set up in Baida. Baida’s current ‘governor’ is Mohamed Shukri, sworn in by the House of Representatives (HOR), the official parliament, on 29 January but rejected by the upper house, the High Council of State. • The tw...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Record Products Sales And VAT Bolster Saudi Economy
...tting it on track for a full year figure of $22.2bn. This would be barely one third of last year’s deficit, the lowest since 2014’s $17.5bn and $30bn less than budgeted for. And this is despite spending being on track to come in just $4bn below the budgeted figure of $260.8bn, the highest since 2015 (se...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Algeria On Track For $11bn Deficit Despite Gas Export Boost
...e fall particularly marked in Q2 (see chart). Revenues from number four customer the USA were up 22% in H1 2017. The US took 76,000 b/d of Algerian crude in Jan-May 2017, higher than any annual average since 2012 (though Q4 2016 saw 132,000 b/d). Volumes dwindled to near zero in 2014 and 2015 as...
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
Kuwait: Al-Zour Re-Award But Delay Likely
...am al-Marzuq says samples will be analyzed to determine the source. The spill is unlikely to hasten a solution to a dispute between Kuwait and Saudi Arabia over Neutral Zone operations, which has seen 300,000 b/d Khafji field shut in since October 2014 and the 200,000 b/d onshore Wafra field si...
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
Saudi Electricity Taps $1.75bn Loan For Capacity Expansion
...hieved. The deal is SEC’s largest syndicated loan to date. It takes to $36.2bn the outside funding the utility has secured since 2007, although the biggest single contribution was a $13.2bn ‘soft loan’ from the Ministry of Finance in 2014 (see table). The syndicated loan is SEC’s first foray into the in...
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
GCC Currencies: To Peg Or Not To Peg?
...Opec’s core GCC countries peg their currencies to the US dollar, an anchor that has served them well given that it is the currency in which their key export is denominated. But as the third anniversary of the late 2014 collapse in oil prices approaches, debate is becoming more lively as to wh...
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
Algeria PM Sacked As Tebboune Bites Off More Than He’s Allowed
...habilitated leader of parliament’s second-largest party, the RND, Mr Ouyahia has been on the rise since he was appointed director of the president’s cabinet in March 2014. In June 2015 the RND appointed Mr Ouyahia interim secretary-general, a post he had resigned in January 2013, and in May 2016 the ap...
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
Oman Taps Abu Dhabi For Wind Farm Cash
...wever, its earlier estimate that the development work would take 24 months suggests that start-up is unlikely before the second half of 2019 (MEES, 17 October 2014). Masdar’s partners in building the wind farm will be US conglomerate General Electric (GE) and Spanish engineering contractor TSK. GE wi...
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
Oman Set To Shrink Deficit, But Not By Much
...% of Oman’s total export revenues. Presuming that non-hydrocarbon revenues and imports held roughly steady in Q2, the figures for oil and gas imply that Oman notched up a trade surplus of $2.56bn in the first half of 2017 the highest figure since 2014 when Oman notched up a $22.2bn trade surplus on th...
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
Egypt Touts $33bn Gas Investment, But Receivables Worry Remains
...00 STANDARD LEGACY PRICE 2.65 *PAID TO IOCS FOR EGYPT PRODUCTION **$2.96/'000FT³ FOR 2014 ($2.65 WITH UPWARDS ADJUSTMENT FOR LIQUIDS CONTENT). CASH CRUNCH Mr Molla says that Egypt’s dues for foreign firms active in the co...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016