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Saudi Aramco Starts Marketing Crude For Bahrain
...mand began to exit its Covid-induced slump (see p15 for full data). Indeed, excluding 2020 and 2021’s ‘Covid’ nadir, Saudi crude output, which fell again to 8.97mn b/d for August according to MEES estimates (MEES, 8 September), is running at the lowest level since early 2011, whilst crude exports of...
Volume: 66Issue: 38Published at Fri, 22 Sep 2023 -
Libya’s Zueitina Restarts Zella Field
...pacity of nearly 60,000 b/d before the 2011 revolution but this has dwindled to well under 20,000 b/d. Zueitina is also working to restart its Sabah, Fedah, Hakim fields located on Block NC-74. The restart of shut-in fields is key to Libya’s long term output goals (MEES, 11 June). But funding issues an...
Volume: 64Issue: 38Published at Fri, 24 Sep 2021 -
Tunisia: Southern Output Dries Up
...nisia’s oil and gas sector has been in almost continuous decline since the 2011 revolution. On 2 September, Tunisia inaugurated its 12th government in nine years. New energy minister Saloua Sghaier faces the daunting task of somehow rescuing a sector on its knees. But how long will she have? THE SL...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Libya’s NOC Looks To Take Development Inhouse With New Zallaf Subsidiary
...rk, which at a minimum would involve securing hundreds of millions of dollars in funding and enlisting the help of international services firms. A HISTORY OF VIOLENCE Though there was a short period following the bloody 2011 revolution when Libya was again starting to look like an at...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
Tunisia: Ex-Dictator Dies, Outsiders In Election Run-Off
...Tunisia’s ex-dictator Zine El-Abidine Ben Ali died in Saudi Arabia on 19 September where he had been forced into exile since his overthrow by a mass uprising in 2011. His death comes just two months after Tunisia’s first democratically elected president Beji Caid Essebsi passed away, tr...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
Kuwait Gets Jurassic Gas Boost, Eyes Further 2020 Gains
...al problems began when Shell won an enhanced technical service agreement (ETSA) for development of the fields in 2010 (MEES, 22 February 2010). Mired in parliamentary enquiries from 2011 (MEES, 4 July 2011) to 2016, Shell was initially unable to make progress (MEES, 29 April 2016). But the election of...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Abu Dhabi Plots $3bn Windfall From Cepsa IPO: What’s For Sale?
...plying that Abu Dhabi can expect to raise just under $3bn for a 25% stake. Cepsa plans to triple its value by 2030. The latest valuation represents a modest premium to the implied €7.5bn valuation when Abu Dhabi state investment firm IPIC assumed full control of the company in 2011, paying €3.97bn fo...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Egypt Sees End To Water Tension With Ethiopia: Is It In Denial?
...ue Nile as a key source of power were taken by Egypt as a threat to what the country has seen as its birthright since the time of the Pharaohs. Construction began in 2011, leading then Egyptian President Muhammad Mursi to say in 2013 that “Egypt’s water security cannot be violated in any way.” He ad...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Iran Offers Big Discounts To Retain Customers
...dn’t have to cut prices to such levels even during the previous tightening of sanctions from 2011-2016 (see chart 1). Iran’s five key Asian buyers took 1.66mn b/d for 2017, 68% of Iran’s 2.46mn b/d crude and condensate sales, highlighting their critical importance to the Iranian economy. In 2011, th...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Egypt-Cyprus Pipeline Deal
...s way from Cyprus to Egypt. The 4.2tcf 2011 Aphrodite discovery, and estimated 6-8tcf Calypso field discovered in January this year, are to-date the only discoveries made offshore the small Mediterranean island; neither has reached FID. Nicosia is currently in discussions with the Aphrodite pa...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Libya’s Blackouts Continue, Power Needs Fail To Trump Instability
...e entire Gecol board. The incoming Gecol chief executive, Ali Muhammad Sassi, has blamed the ongoing blackouts across the country on a combination of an “unprecedented” rise in energy consumption and the fact that plans to build new power stations have been delayed since 2011. Although low te...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
South Sudan Crude Output Plumbs New Lows
...South Sudan has faced chronic instability since 2011 independence. Output and exports are down again this year amid renewed violence, whilst low oil prices have raised the share paid to IOCs, and to Sudan in transit payments. South Sudan’s oil sales fell to a three-year low of just 10...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Saudi ‘Low Cost’ Market Share Policy Remains Unfinished Business
...llapsed from 1.54mn b/d in 2010 following the 2011 revolution. It was just 260,000 b/d last month, although recent developments have enabled it to climb back up to 390,000 b/d (MEES, 16 September). Nigeria’s output has fallen 460,000 b/d since January due to attacks from the Delta Avengers group. The la...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Aramco Output Policy Under Scrutiny Ahead Of Algiers
...rst time the kingdom has managed this since 2011, after the 400,000 b/d Petro Rabigh refinery reached full capacity in October 2010. Saudi Arabia’s newest refineries have been configured to maximize gasoline and diesel output with an eye to exporting to Europe. IEA figures show Saudi products exports to...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Tunisia: Output Slides, Firms Look For The Door Amid Instability
...e January 2011 ‘revolution’ that kicked off the Arab Spring. In many ways Tunisia’s experiment in democracy has been an admirable success – certainly compared to its neighbors Libya and Egypt. But not in terms of oil and gas output. The frequency and intensity of strikes has got worse this year. Ga...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Egypt Struggles To Raise Money For Imf ‘Bilateral Financing’
...mewhat from $39.1bn for 2014-15 to $37.6bn for 2015-16 due in part to sustained low oil prices. • With the rise in the current account deficit, Egypt’s foreign exchange reserves remain under pressure. The $16.6bn end-August figure is less than half their level before the January 2011 revolution....
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
GCC Fertilizers Capacity Hits 41Mn T/Y, But Feedstock Crunch Awaits
...particular is diversifying by mining indigenous phosphate to produce DAP. First DAP fertilizer was produced in 2011 and Saudi DAP capacity is now 3.4mn t/y. Saudi miner Ma’aden is expanding its phosphate developments under a $7.97bn program, says the GPCA. More conventionally, Bahrain’s Gulf Pe...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Venezuela Steps Up Campaign To ‘Stabilize’ Oil Prices
...ed to be a regular buyer of Iranian crude before sanctions were ratcheted up on Iran in mid-2012. Iran was in fact Pretoria’s largest oil supplier pre-2012, exporting 85,000 b/d to the African state in 2011 on average, according to MEES estimates. OPEC VS IEA SUPPLY-DEMAND BALANCE,SEPTEMBER 20...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
North Africa Security Special Report: Too Late To Roll Back Islamic State?
...ficials, it was the only country in the Middle East and North Africa region not to suffer from terrorism in 2014. The most recent major attack in the kingdom was in April 2011, when 17 people were killed and 25 injured in an explosion at a restaurant on Djema el-Fna, the main square in Morocco’s tourist hu...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Libya Oil Revival Cut Short By Sharara Outage
...litical crises and strikes left oil production fluctuating since the ouster of Muammar al-Qadhafi in 2011. Libya’s production increases in recent months had defied an escalating conflict between militia supporting opposing political factions. Output rebounded after the Political Bureau of Cyrenaica (PB...
Volume: 57Issue: 38Published at Fri, 19 Sep 2014