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Kuwait Crude Oil Capacity Rises To 14-Year High
...ES, 18 July). Having achieved this mark, capacity now stands at its highest level since 2011’s 3.26mn b/d. It has increased by a substantial 470,000 b/d since its low-water mark of 2.73mn b/d in 2021 thanks to a combination of KOC gains and gradual increases from the PNZ following its restart in 20...
Volume: 68Issue: 39Published at Fri, 26 Sep 2025 -
Eni & BP Set To Kick Off Libya Exploration Drilling Campaign
...Tony Blair (MEES, 4 June 2007). BP pledged to invest $900mn drilling 17 wells. Following several false starts, it was about to drill its first well in February 2011 when the revolution that saw the ouster of Gaddafi kicked off. Though the UK major did dust off plans in 2012 amid a brief period of...
Volume: 67Issue: 39Published at Fri, 27 Sep 2024 -
Libya’s One Million Barrel Question
...gitimacy to rule Libya. Several power-hungry players have held the oil industry hostage to their political ambitions since the overthrow of Muammar Gaddafi in 2011. This time is no different and there is no end in sight. ...
Volume: 63Issue: 39Published at Fri, 25 Sep 2020 -
EOG To Bring ‘Unconventional’ Know-How To Oman’s Upstream
...ll to be drilled was Hayah-1, but shortly after that came up dry in 2016 (see map, MEES, 27 May 2016), operator DNO chose to walk away. That left Apex, a small private firm out of Alberta, with a 100% stake at the asset which it was originally awarded in September 2011. Apex kept the faith. Ac...
Volume: 63Issue: 39Published at Fri, 25 Sep 2020 -
Saudi Petchems Firms: Consolidation Ahead?
...merging the two companies,” while caveating that entering discussions “does not necessarily mean that the deal will take place.” Indeed, the companies entered into talks about a similar merger in 2011 without concluding a deal. The proposed merger comes at a time when Saudi petchems firms of al...
Volume: 63Issue: 39Published at Fri, 25 Sep 2020 -
Chinese Takeover For Cash-Strapped Kuwait Energy
...ergy (KEC)—a Bahrain-headquartered privately-held firm whose financial struggles have hampered development of its promising portfolio. The deal would be UEG’s second largest to date since entering the upstream sector via the 2011 acquisition of BP’s Pakistan assets for $775mn. Pakistan accounted for al...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
LNG Prices At Four-Year High Amid Soaring Demand
...port record of 88.45mn tons set in 2014 will ever be surpassed. Japan’s record years for LNG imports came in the wake of the 2011 Fukushima nuclear disaster. The continued, albeit extremely gradual, restart of the country’s nuclear fleet combined with overall stagnant-to-falling Japanese energy de...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Noble, Delek Advance Israel-To-Egypt Gas Hopes With $518mn Pipeline Deal
...s shortfalls in Egypt made the continued supply of gas to Israel increasingly contentious. Egypt tore up the deal and put the minister who inked it, Sameh Fahmy, on trial in the wake of the February 2011 revolution (MEES, 14 March 2011). This led to damages claims from both the EMG’s then sh...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Assad Looks To Rebuild As Syria War Enters Final Act
...ntroled output fell to 7,700 b/d in early 2016, from 387,000 b/d in Q1 2011, just before the outbreak of war. Given that oil exports accounted for 30% of revenues ($4.1bn) in 2010 and bolstered foreign currency reserves, linking fields in the east with downstream infrastructure in the west has re...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Algeria’s Risky ‘Cash Creation’ Plan: From One Pocket To The Other
...ree years. Algeria’s hydrocarbon-dependent economy has been hit hard by the collapse in oil prices since the second half of 2014; its hydrocarbons revenue fell to just $27.1bn last year from $71.4bn in 2011, though recent oil price rises mean it may just avoid a third straight $10bn-plus trade de...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Saudi Raises Bumper $12.5bn International Bond
...ndraising to finance its fiscal deficit rather than deplete its foreign exchange reserves. But though the rate of decline here has slowed, Saudi reserves continue to fall, hitting $487.7bn at end-August, the lowest level since early 2011 and down a third from $732bn at end-2014. In addition to the la...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Libya Output Nears 500,000 B/D; Can The Gains Continue?
...adames basin, which has a capacity of about 10,000 b/d. Majid has production capacity potential of about 4,000 b/d, down from about 10,000 b/d prior to 2011. Crude from Nafoora shipped via the Ras Lanuf terminal prior to the declaration of force majeure on the port, while the Hamada field typically su...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
Israel Struggles To Attract Interest In Offshore Acreage
...ars back in 2012 for his role in the 2005 deal to send Egyptian gas to Israel, a deal that was terminated following the 2011 ouster of former president Husni Mubarak (MEES, 30 April 2012). Though Mr Fahmy was last year released on appeal, this will hardly fill anyone signing a deal with Israel with an...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
Abu Dhabi: Has It A Future As An LNG Exporter?
...07 2008 2009 2010 2011 2012 2013 2014 20...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
OPEC Agrees To Cut, Now The Hard Work Starts
...EC^ 2016 OIL EXPORT REVENUES ON COURSE FOR $750BN FALL FROM 2012 PEAK ($BN) 2010 2011 2012 2013 20...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
Iran, Oman Sign Gas Export Pipeline Contracts, Eye 2018 Start-Up
...owing to Oman by 2018 at the latest, Mr Zanganeh said. But that will be wholly contingent on Muscat and Tehran’s ability to successfully navigate the often muddy waters of price negotiations. The two countries came agonizingly close to signing a gas supply deal in 2011, only for talks to break down at...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Urgency Of Peace In South Sudan Undermined By Persistent Divisions
...vernment is due to a combination of factors. In recent months, Juba has fallen behind with payments of $24.1/B due to Sudan in return for the use of its oil export infrastructure and in compensation for the loss of Sudanese oil resources, when South Sudan became independent in July 2011. In an effort to...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Middle East LNG Demand Impetus Takes Market By Surprise
...ay small compared with the global balance, but the niche markets in the Middle East and are absorbing the amount of incremental LNG going to Europe, which usually acts as a balancing market. Middle East imports – led by Kuwait and Dubai (and Israel to some extent) – grew from 1mn tons in 2011 to 1....
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Israel Refineries Maintain KRG-Fueled Near-Record Runs
...%. > In contrast the 100,000 b/d-capacity Paz Ashdod refinery held output at a record 107,000 b/d throughout the first six months of 2015. The company is reaping the benefits of a major expansion and upgrade of Ashdod refinery in 2011 and 2012 (MEES, 29 August 2014), which not only increased crude di...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Libya’s Fragile Oil Recovery Continues
...tuation threatens to instantly reverse Libya’s output recovery. Production dipped as low as 150,000 b/d earlier in the year, but had been at 1.5mn b/d last July prior to the shutdown of the eastern terminals, a remarkable recovery from the almost total outage during the 2011 revolution, and only just shy of...
Volume: 57Issue: 39Published at Fri, 26 Sep 2014