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Adnoc’s Giant Onshore Concession Central To Future Bond Issues
...24 as a result of the CFP, and are set to easily break 2014’s record of 1.14mn b/d according to Kpler data. Exports this year peaked at 1.54mn b/d in April but have since eased off slightly averaging 1.31mn b/d for August (see chart 2). ADNOC ONSHORE RESERVES In preparation for th...
Volume: 67Issue: 37Published at Fri, 13 Sep 2024 -
Turkey Claims Iraq Owes Nearly $1bn In Net Arbitration Damages
...accrue further interest until payment, or amicable resolution. Turkey’s claim is that “Iraq’s damages date from 2014 to 2018 – a period of relatively low [Turkish] bond yields,” and therefore “far more interest has accrued on Türkiye’s damages” which date back to 1990 until 2011. Based on...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Eni Spuds Key Morocco Wildcat
...per Jurassic but that the find was insufficient to justify testing (MEES, 21 March 2014). However it is worth noting that the subsequent decisions by both Cairn and Galp to quit their acreage and walk away from Morocco in 2015 and 2016 respectively were driven more by the collapse in oil pr...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Algeria: Key Southwest Gas Field Start-Ups Boost Exports To 7-Year High
...d Reg Mouaded were originally to be developed by the UK’s BG (now Shell), and the Hassi Mouina license containing Hassi Tidjerane and Tinerkouk by Norway’s Equinor before the foreign firms walked away in 2013 and 2014 respectively having failed to agree commercial terms with Sonatrach (MEES, 29 May 20...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Lebanon Blocks 4 & 9: Qatar Energy To Replace Novatek?
...19 Glaucus discovery – and the recently-awarded Block 5 (MEES, 22 April). A recent diplomatic rapprochement with Egypt, with President Sisi this week visiting Qatar for the first time since taking office in 2014, also lays out the prospect of further investment in the region’s leading gas producer. Qa...
Volume: 65Issue: 37Published at Fri, 16 Sep 2022 -
Adnoc Adopts Targeted Approach In Search For Unconventional Partner
...rategy.” This strategy has seen Adnoc radically shakeup its foreign partnerships in recent years. On the upstream side the expiry and renewal of long-term concessions over 2014-2018, coupled with the launch of exploration bid rounds, enabled Adnoc to bring in a range of new foreign partners based primarily on...
Volume: 64Issue: 37Published at Fri, 17 Sep 2021 -
Oman Taps Debt Market To Cover Low Oil Revenues
...vid-19 pandemic and oil price crash came as the country was already on the brink of economic crisis. Unlike its fellow GCC oil producers, the sultanate’s more modest oil production has failed to cover its increasingly bloated public sector – particularly after the 2014 price crash (MEES, 26 July 20...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Iraq Plans Qayara Refinery Expansion
...veiled plans for multiple greenfield refineries, but the only one to progress is a 140,000 b/d project at Karbala awarded to a Korean consortium led by Hyundai E&C under a $6bn contract in 2014 (MEES, 21 February 2014). The delayed project now targets 2022-startup, though even this looks optimistic. Th...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Morocco Gas Development: Don’t Hold Your Breath
...rgets. Repsol relinquished the acreage in early 2014 with ‘Anchois-1’ the only one of four wells drilled to find gas. Of course the global market for virgin offshore development projects is considerably more bearish now than in 2013, when oil prices were $100/B-plus. But that isn’t stopping Chariot, wh...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Conoco Enters Morocco
...fshore ‘Atlantic margin’, the hotspot for exploration earlier this decade, Repsol also has the deepwater Gharb Offshore South block, which lies further offshore from the Tangier Larache permit (now Chariot’s Lixus), which Repsol relinquished in 2014. Italy’s Eni previously partnered Chariot at the Ra...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Saudi OKs Desal Sell-Off Plans
...ant, with 2.4GW power generating capacity and desalination capacity of 1.25mn m3/d. This came online in 2014 at a cost of $6.1bn (MEES, 13 February 2015). Estimating the value of SWCC is complicated by the fact that much of the company’s infrastructure is in need of a capital injection: 20% of its ca...
Volume: 62Issue: 37Published at Fri, 13 Sep 2019 -
Israel-Egypt Gas Deal: More Problems?
...at the two key Leviathan partners are looking for another potential Egyptian offtaker for their gas. Given that Egypt’s moves to gas market liberalization are in their infancy (MEES, 5 April) the obvious counterpart would be EGAS. Dolphinus was formed in 2014 by Egyptian entrepreneurs Alaa Arafa, Kh...
Volume: 62Issue: 37Published at Fri, 13 Sep 2019 -
Egypt Gas Output At Record High As Zohr Hits 2BN CFD
...NDENSATE OUTPUT (‘000 B/D): MED OUTPUT RETURNS TO EARLY 2014 LEVELS AFTER SLUMP SOURCE: EGPC, MEES....
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Israel Reviews Upstream Rules: Too Little, Too Late?
...rtfolio were dealt a blow by a subsequent 2014 ruling by Israel’s Antitrust Commissioner which forced both firms to sell off part of their Israeli interests – a process still ongoing (MEES, 15 May 2015). Needless to say this added further to the regulatory uncertainty which has stymied investment. One fi...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Iraq’s Baiji Refinery Restarts Amid Security Concerns
...erations at Baiji refinery commenced this week for the first time since Islamic State (IS) overran the plant in June 2014 inflicting catastrophic damage (MEES, 26 September 2014). Prior to 2014 Baiji had 310,000 b/d nameplate capacity and produced around a third of Iraq’s gasoline and diesel before the IS ta...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
SEC Takes First Steps Toward Saudi Power Sector Shake-Up
...ectricity tariffs is also shown in consumption data, with SEC’s grid-delivered electricity consumption falling from a peak of 214.6TWh for 2014 to 206.0TWh for 2016 and 204.6TWh for 2017. The 2017 report reflects a Saudi move towards burning more fuel oil and less crude in power plants. In 2017 steam tu...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
East Med: Hope Despite Dry Cyprus Well, Lebanon Bid Round Deadline Delayed
...economic, especially since the oil price collapse in 2014 and the accompanying lower gas prices. By far the most active firm offshore Cyprus is Eni. The Italians have stakes in six of the seven blocks currently awarded, and are operator in four. In early August Eni said it would drill three wells ac...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
War-Torn Yemen Maintains Steady Crude Exports; China, Thailand The Key Buyers
...scale, renewed crude exports are providing an essential influx of revenue and liquidity to the embattled regime. Prior to the onset of the civil war between Houthi rebels and government forces in 2015, hydrocarbons provided 73% of export revenues according to IMF figures. Crude exports in 2014 re...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Oman Looks To Bid Round For Exploration Boost
...ndered blocks appear less prospective. Block 43b was last operated by Hungary’s Mol which relinquished the 11,967km² block in 2014. A conventional gas play, previous owners combined have drilled only two wells with no discoveries. In Block 47, also mostly bordering open blocks, tight gas is expected to be...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
UAE Looks To Offshore Gas To Ease Growing LNG Addiction
...M) 2007 2008 2009 2010 2011 2012 2013 2014...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017