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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 -
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 -
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 -
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 -
Libya Faces Economic Meltdown As Oil Industry Grinds To A Halt
...leaguered interim government. Having stunned the industry by restoring oil output to normal levels in record time after the end of the 2011 rebellion, the post-Qadhafi authorities are back to square one with output reported by NOC to have fallen to “its lowest level of 240,000 b/d.” This compares wi...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
ADNOC Plans Sharjah Terminal, Storage Expansion
...pulation and number of vehicles. It also took over the running of 74 filling stations operated by federal state-owned gasoline retailer Emarat in the UAE’s northern emirates: Sharjah, Ras al-Khaimah, ‘Ajman, Umm Al Quwain and Fujairah. The move results from a fuel crisis in 2011 when Sharjah shut down Du...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
Iraq Grants Jordan $25M
...ab Gas Pipeline (AGP). Supplies from Egypt have been erratic since the downfall of former president Husni Mubarak in January 2011 because of frequent attacks on the pipeline. Most recently the pipeline was blown up on 6 July in al-‘Arish in the Sinai peninsula and to date no repairs have been ca...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
Sinopec Sidesteps Instability To Go Big On Egypt
...cident, together with other nearby disturbances, will spook shippers. So far revenues have been fairly stable post-Revolution, although takings of $1.25bn for 2Q13, were down 3% on the second quarter in 2012 and 5% down on the same period in 2011 (see graph 2). ...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
India Turns To Iranian Oil For Economic Relief
...pay entirely in rupees. India since July 2011 had been paying for its purchases of Iranian crude in both euros and rupees. 55% of its imports were paid for in euros through Turkey’s Halkbank; while the remaining 45% was remitted in rupees through the Calcutta-based UCO bank. US sanctions in...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
South Sudan Gets Stay Of Execution
...peline to all Southern crude oil (MEES, 30 August). South Sudan broke off from Sudan in July 2011, taking with it around three quarters of the former Sudan’s 450,000 b/d oil output. But the South is dependent on Sudan for exports: the pipeline to Port Sudan is South Sudan’s only link to in...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013