Libya Eyes 10,000 B/D 1H24 Output At North Hamada

...w a pipeline connection between Tahara and the parallel El Feel/Sharara to Zawiya/Mellitah trunk crude pipelines. Full development of the seven fields on Area 47’s Block 2 on which commerciality was declared in 2011 and 2014 is slated to produce 50,000-60,000 b/d liquids and 90mn cfd gas with ou...

Iraq’s Ageing Basra Infrastructure: Can It Take The Strain?

...e onshore bottlenecks. Yet it is far from clear whether or not BOC can sustain high exports through these facilities, and whether more SPM replacements are needed. All the four operational SPMs were installed between 2012 and 2014, although UK contractor Petrofac, which has a maintenance co...

Libya’s NOC Moves To ‘Save’ Key Oil & Gas Project

...(MEES, 27 November 2020). The development has since 2014 been operated by the Nafusah Oil Operations consortium consisting of Medco (24.5%op), Libyan Investment Authority (LIA 24.5%) and NOC (51%). In a bid to “save the project”, Mr Bengdara has, according to Mr Sanalla, set up a committee to ne...

Qatar Export Revenues Surge Above $12bn

...As Europe’s gas crisis rumbles on, gas exporters are cashing in. Qatar’s export revenues topped $12bn in July for the first time since early 2014 and the gains could keep coming. Qatar’s export revenues jumped to $12.18bn in July, driven largely by its gas sector, enabling a mammoth $9....

Mubadala Completes Israel Entry With Tamar Buy-In

...tting record output of 1.014bn cfd in the same year.    But output from Tamar has fallen since, a trend that Mubadala will be looking to reverse. Output for Q2 this year fell to just 660mn cfd, the lowest quarter since Q1 2014, as Leviathan undercut Tamar’s price in sales to state utility IEC. Th...

India 1h 2020 Crude Imports: A Tale Of Two Quarters

...test provisional data from the country’s Petroleum Planning and Analysis Cell shows imports of just 2.91mn b/d in July, only just above May’s 10-year low of 2.82mn b/d. June was almost 800,000 b/d higher at 3.59mn b/d, though this is still the third lowest figure since 2014 (see chart and p7 for full da...

Egypt: IOC Receivables Edge Lower In 1H 2020

...id off, with Egypt’s Council of Ministers on 19 August approving a settlement of the dispute. No details were given. Egypt’s overall receivables figure peaked at over $6bn in 2014. Key offshore gas producers Eni, BP and Shell have not reported receivables figures since 2016 – though Eni’s 1H re...

Saudi Electricity Borrows $2.4bn

...d capex funding. SEC’s biggest year for lending from the financial market was 2016, when it raised $5.13bn, although its largest deal was a $13.2bn Ministry of Finance ‘soft loan’ in 2014 (see table and MEES, 26 January 2018). SEC’s need for capex will likely be reduced by its decision to pursue in...

Kuwait Upstream Chief Pledges Ambitious Investment To Boost Capacity

...pacity at 1.7mn b/d with a technical service agreement (TSA) in 2014, which was subsequently upgraded to an enhanced technical service agreement (ETSA) in 2016 (MEES, 15 July 2016). GAS: STEADY GAINS PLANNED          When it comes to gas, KOC’s plans are at least more clear-cut. Mr Sultan says “we...

Saudi Bags Growing Share Of Key Chinese Market

...November 2018). China’s overall crude exports have risen 9.7% to 9.85mn b/d for the first seven months of 2019, but the Saudi gains are such that its market share has leapt from 11.7% for the first seven months of 2018 to 15.7% for Jan-July 2019. The latter is the highest share since 2014 when ov...

Israel-Jordan Gas Deal Details See Light

...is deal was set at $4.79/mn BTU, substantially below the Leviathan-Nepco deal. A late 2014 antitrust ruling that Noble and Delek were operating as a monopoly offshore Israel left the country’ upstream in stasis until a gas outline compromise deal was reach in May 2016 (MEES, 27 May 2016). As part of...

Bahrain’s Oil Sector Optimism Spreads To Powergen

...hrain’s largest plant with 1.25GW capacity. Bahrain’s power plants run almost entirely on gas, with gas burn for power generation amounting to 5.38bcm in 2018, down from a record 5.62bcm in 2014 that was almost matched in 2017 (see chart). Although Bahrain’s domestic gas production of around 2.1bn cf...

Kurdistan Oil Sector Outperforming Expectations in 2018

...likely, but the 10,000 b/d production facilities are relatively close to a light oil discovery by Total and US firm Marathon that lies within the same current block (Block 11). The 43°API discovery at the Jisik-1 well in the now-defunct Harir block flowed at 6,100 b/d according to Total in 2014 (MEES, 5 De...

Turkey Mixes Business & Politics As Qatar LNG Surges

...13 2014 2015 2016 2017 Russia (P) 12.57 -1.71 -12.0 14.27 19.47 17.58 25.41 26.49 26.21 26.98 26.78 24...

Sinai Insecurity: Sisi’s Achilles’ Heel

...litants in the region were made up of disaffected Bedouin tribesmen but since 2014, a local group called Ansar Bait al-Maqdis pledged its allegiance to IS, rebranding as the latter’s ‘Sinai Province’. This group claimed responsibility for the downing of a Russian passenger jet over the Sinai in Oc...

Iraq Readies Baiji Unit

...Iraq is ready to restart one of three units at the Baiji refinery in Salahuddin province, which was badly damaged by Islamic State jihadists in June 2014. A unit which had 70,000 b/d crude distillation capacity before the destruction is now expected to process 60,000 b/d. “The re...

Israel Refiners Pump At Record Levels

...17). 2018 should see a reverse of that trend. First half gasoline output of 88,500 b/d puts Israel on track to top the previous annual output record of 84,500 b/d set in 2014 (MEES, 25 March 2015), whilst Bazan in its first half report says that national consumption of transport fuels gasoline, diesel an...

Algeria Halves Trade Deficit, Thanks To Higher Oil Prices

...tal exports, though this would be the lowest share since the turn of the millennium. Based on year to date figures and the current oil futures price, MEES estimates that for 2018 as a whole Algeria will earn $42.2bn in export revenues, up 17% on 2017’s $35.2bn and the highest figure since 2014 wh...

Key Syria Oil Field Restarts

....3%, India’s ONGC 9.4%) until fighting halted output in 2013 (MEES, 5 April 2013). Islamic State militants subsequently resumed production after seizing the fields in 2014. The Financial Times in 2016 estimated output from the field at 10-12,000 b/d under IS-operation. One report puts current Tanak ou...

Turkey 1H17 Gas Imports (Bcm): Iran On Track To Top Record 2014 Supplies But Still Less Than 1/3 Russian Volumes