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Iraq Picks Up The Pace On Exploration; Can It Snag Chevron?
...6tcf of 5.6tcf gas in place is estimated to be recoverable. Akkas was originally awarded to Korean state firm Kogas (100%) in 2010, with the firm targeting 400mn cfd for a remuneration fee of $5.50/boe (MEES, 25 October 2010). Kogas declared force majeure on the field in 2014 as Islamic State ov...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
Algeria’s Sonatrach Greenlights Key Gas Project
...tput will be far lower than the headline 5bcm/y figure. Sonatrach last published a production figure for Alrar way back in 2014 when output was 5.5bcm. UK engineering firm Petrofac is currently carrying out an EPC contract for Tinhert Phase 1, which sees another group of Illizi basin fields tied ba...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
World Faces Oil & Gas Investment Chasm
...ice collapses in 2014-15 and again in 2020. As a result, it is geared towards a world of stagnant or even falling demand…We are not investing enough to meet for future energy needs.” But whilst even a year ago the IEA viewed the collapse in energy investment as clearly unsustainable, it is now ca...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
South Korea Crude Imports: Mideast Share At Record Low
...*South Korea’s crude imports, at 2.58mn b/d for 9M 2021 are down 4% year-on-year putting this year on track for the lowest imports since 2014. *And volumes from Middle East and Opec countries are down much further as Korea continues a drive to diversify supplies. *Mideast vo...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
Iraq Braces For Government Formation: Sadr Wins Most Seats, Maliki Close Behind
...e outgoing parliament (see table). Sadr now has the largest bloc in parliament but he is tailed by the country’s longest serving post-2003 prime minister, Nouri al-Maliki who was in office from 2006 to 2014. Maliki’s ‘State of Law’ alliance added 10 seats for a provisional total of 35. But Mr Ma...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
Algeria’s Economic Rebound: Can It Seize The Moment?
...I and diversify the economy? Algeria is set for its first trade surplus since 2014 as higher oil and gas prices coupled with a boost in export volumes drag its economy out of an abyss. If the latest estimates from Algerian officials prove correct, a surge in exports to $37.5bn is set to result in...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021