Algeria Delays Bid Round Once Again

...secure foreign investment in its upstream. Algeria: Blocks On Offer In 2014 Bid Round...

South Sudan Oil Sector Takes Hit With Exxon Exit

...rm-in agreement as of April 2014,” Total said in a 19 August statement e-mailed to MEES, without going into further detail. ExxonMobil declined to comment, though the ongoing conflict – and the lack of clear prospects for a solution – could go a long way towards explaining the company’s decision. Re...

DRPIC Tenders Duqm Refinery Site Prep

...rk tender is expected to be followed by prequalification for an engineering, procurement and construction (EPC) contract for the refinery in third quarter 2014. DRPIC appointed Shaw Group as project management consultant for the 230,000 b/d refinery in August 2012. The US contractor’s energy and ch...

Dragon Oil’s 1H14 Output Falters As Ambitions Soar

...fshore Cheleken contract in Turkmenistan, in which it holds a 100% stake, stood at 73,440 b/d for the six months to 30 June 2014, slightly down on the corresponding period last year (see table). June production rose to 76,100 b/d, but these numbers may be slightly misleading: in June 2013 for ex...

Oman Oil Names Former Oxy Executive As New CEO

...ins OOC with more than two decades of experience in the oil and gas sector, having previously worked for US independent Occidental (Oxy) and Oman’s Ministry of Oil and Gas. He served as President and General Manager of Oxy Oman between 2009 and 2014, before being promoted to Senior Vice President for Bu...

Iran Stimulus Plan Approved As Debt Piles Up

...an (CBI) showed that GDP contracted by 1.9% in the Iranian year 1392 (March 2013-March 2014). In the preceding year, the growth rate was negative at 6.8%.    The stimulus plan identifies several obstacles to economic revival, namely a shortage of financial resources, low domestic demand, falling in...

Kuwait Unveils New Five-Year Development Plan

...e new plan. As of January 2014, the Kuwait government had spent only 57% of the allocated expenditure in the current plan. Kuwait’s development process has suffered in the past few years from the absence of decision making, given the ongoing political bickering between the government and parliament. Fr...

Benchmark Crude Prices ($/B)

...OIL PRICES   21-Aug 11 - 15 Aug 4 - 8 Aug Jul-14 Jun-14 Q2 2014 Q1 2014 2013 20...

Egyptian Oil & Gas Output, May 2014: Oil Steady; Gas At Lowest Level Since 2006 (4.8 Bn Cfd)