- Sort by:
- Score
- Published ▼
-
Cyprus’ Aphrodite: Development Talks Continue Amid Reserves Downgrade
...rnerstone of their energy strategy,” a MEES source says. Trouble has been brewing for some time between Nicosia and Chevron, which only entered the project in late 2020 after its takeover of compatriot Noble Energy, which discovered Aphrodite in 2011. Understandably the US major believed it could im...
Volume: 66Issue: 36Published at Fri, 08 Sep 2023 -
Cyprus’ Aphrodite: Development At Last?
...A development plan, set to be filed by end-2022, would see tie-back to under-utilized processing facilities on Egypt’s Mediterranean coast. Comments from Yossi Abu, CEO of Israel’s NewMed Energy, on his firm’s recent Q2 earnings call give the clearest signal yet the partners in Cyprus’ 2011...
Volume: 65Issue: 36Published at Fri, 09 Sep 2022 -
Libya’s NOC Advances Go-It-Alone 16,000 b/d Erawin Development
...forts to boost output from 1.3mn b/d to 2.1mn b/d (MEES, 11 June). Political instability, a lack of funding and weak security continue to present huge risks (see p14). Ten years of near-continuous chaos since Libya’s 2011 revolution, have deterred NOC’s key foreign upstream partners from sa...
Volume: 64Issue: 36Published at Fri, 10 Sep 2021 -
Iraq & TotalEnergies Sign ‘$27bn’ Energy Sector Megadeal
...xon entered the KRG in 2011. The subsequent decade saw it packaged under a $53bn Southern Integrated Infrastructure Project (SIIP) that was almost finalized with ExxonMobil and PetroChina, but which also fell apart (MEES, 10 May 2019). Both companies were expected to finance SIIP components by in...
Volume: 64Issue: 36Published at Fri, 10 Sep 2021 -
Egypt: Key Shell Offshore Gas Project Faces Uncertainty
...d Shell are also partners at Cyprus’ 4.1tcf 2011 Aphrodite discovery, for which the development plan is also a tie-back to Idku. MEES learns that talks between Shell and Chevron have covered the possibility of combining Leviathan Phase II and Aphrodite development. Chevron and Noble CEO’s Mi...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
Lebanon Declares ‘State Of Economic Emergency’
...the honor of the third highest debt-to-GDP ratio in the world (around 150%; behind only Greece and Japan). Low growth since 2011 – about 1.4% annually, due in large part to the outbreak of war in neighboring Syria – has merely exacerbated the problem. Through remittances, foreign direct in...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Cyprus Gas Compromise?
...diterranean to Greece. Turkey objects to what it labels unilateral Greek Cypriot gas exploration efforts and has vowed to protect the interests of the Turkish Cypriots in the northern third of the island. So far three discoveries have been made off the south of the island but only US firm Noble Energy’s 2011...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Egypt’s Red Sea Seismic Reimaging
...uld appear to suggest a further delay to the bid round, which has already been pushed back from its initial 1 August closing (MEES, 5 July). Block 2 is considered the most prospective of the acreage on offer. US firm Hess drilled a dry well here in 2011. It is also relatively near to where Saudi Ar...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Egypt Arbitration Award Paves Way For LNG Restart
...t a six-and-a-half year high 6.07bn cfd in July, latest data shows, just shy of the December 2011 record 6.22bn cfd (see chart below). Egypt’s other LNG export facility, the 7.2mn t/y ELNG plant at Idku, operated by Shell has continued to export small quantities despite Egypt’s gas deficit, to av...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Japan Set To Follow South Korea and France In Halting Iran Oil Imports
...lumes from 2011 levels, with further cuts in 2014. But India and China, having made more modest cuts in 2012 and 2013, all-but reversed these in 2014 when it became clear that then US President Obama was keener to avoid conflict than enforce sanctions (see chart and MEES, 6 February 2015). This ti...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Aramco Eyes Houston Refining Hub As Motiva Break-Up Advances
...mpany is in advanced negotiations with Chinese state firm CNPC for joint construction of a refinery in China’s southwestern Yunnan province. “We hope to reach an agreement this year,” he said. CNPC and Aramco signed an MoU in March 2011 to jointly build the first refinery in the province, which wo...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
Libya Faces Further Output Fall, Degraded Capacity With Chronic Under-Investment
...oduction potential of many of these fields has dropped substantially, particularly in the short term. Prior to 2011, the Sarir field had capacity of between 200,000-220,000 b/d, and the Mesla field about 100,000 b/d. Mr Sanalla acknowledged in the NOC statement that “we have a very long to-do list once st...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
IMF To Assist Egypt In Raising Bilateral Aid
...e first seven months of 2016, down 2% from the same period of 2015 and 7% from the same period of 2014 (see chart 2). At least this ‘fall’ can be put down to the strength of the dollar. The same cannot be said for tourism revenues which have been in free fall since the January 2011 revolution. Re...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
Eni 30tcf Egypt Gas Find A Game-Changer For East Med Energy Market
...pply four LNG cargoes via Jordan’s ‘Aqaba import terminal – that is to say via a reversal of the pipeline that until 2011 supplied Egyptian gas to Jordan. Two cargoes will arrive September and two in October with Shell supplying two cargoes and Vitol and Trafigura, who have already signed-up to import mo...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Minister Outlines Iraq’s Power Sector Woes As IMF Warns On Rising Subsidies
...ys there has been a shift in the structure of Iraq’s electricity consumption in recent years. In particular, the share of government and public sector consumption has risen to 32% in 2014 from 23% in 2011. Meanwhile, industry’s share of consumption has fallen to 17% in 2014 from 25% in 2011. Ho...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
August OPEC Production: Output Falls For First Time In Six Months
...n b/d above the 30mn b/d output ceiling in place since December 2011, and close to 2.4mn b/d above what the IEA has estimated as global demand for Opec crude in 2015. The biggest individual decrease in August came in Iraq, which along with Saudi Arabia has been one of the main drivers of Opec’s pr...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Qatar’s Barzan Gas Faces Delay
...derstand the dynamics at play in the field. Following tough negotiations in 2010, ExxonMobil was awarded a meager 7% stake in the joint venture in early 2011. With production sharing agreements (PSAs) between QP and international oil companies (IOCs) set to expire in the coming years, many analysts saw th...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Leviathan Development Gathers Pace As Partners Sign Third Sales Deal
...gulatory approval from Israel and Jordan, for whom the deal would certainly seem to make economic sense: since Egyptian piped gas supplies all but halted in 2011, the country has become reliant on pricey imported oil to fuel its power plants. On the positive side, a major Israel-Jordan gas sales deal ha...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Turkey Completes 900MW Gas Plant As Part Of Ambitious Capacity Expansion
...04 2005 2006 2007 2008 2009 2010 2011 2012 2013 Thermal 23.0 24...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Abu Dhabi Capacity Hits 15.5GW With Shuweihat S3 Completion
...pco) and the Abu Dhabi Water and Electricity Authority (ADWEA, for which ADWEC is the sole buyer of electricity and water). Sapco developed Shuweihat S3 at a cost of $1.5bn, under a 25-year build-own operate agreement with ADWEA. Construction started in March 2011 (MEES, 21 February 2011). Siemens su...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014