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Egypt Posts First Gas Output Rise In Three Years
...d-2023, though still well shy of the record 921mn cfd posted in 1Q 2014. EGYPT GAS OUTPUT (BN CFD): Q3 OUTPUT REBOUNDS TO 4.20BN CFD FOLLOWING SUCCESSFUL DEVELOPMENT DRILLING. CAN IT BE SUSTAINED? *INCLUDES OFFSHORE, ‘EASTERN DESERT’ (GOS WEST BANK) & SINAI (E BANK). SOURCE: EGYPT PETROLEUM MI...
Volume: 68Issue: 42Published at Fri, 17 Oct 2025 -
Algeria Launches ‘Bid Round 2024’: Still Plenty Of Unanswered Questions
...geria. The acreage looks impressive, and with majors and other IOCs already beating a path to Algiers, the country will surely do better than its previous flopped bid round way back in 2014 (MEES, 3 October 2014). However, interested parties will still have plenty of questions as to what exactly is be...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
Egypt Gas Market Tightens As Fuel Oil Burn Returns
...oothly since an extended 2019 shutdown for repairs, and before that chronic 2014-16 gas shortages (MEES, 17 May 2019), it is worth noting that Q2’s 268,000 tons of methanol output was well down on the average of around 300,000 tons for the preceding three quarters. Whilst the firm’s most recent results in...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
Kuwait Oil Company Capacity Slumps To 12-Year Low
...pacity dropped to 1.391mn b/d, down by 97,000 b/d from 2019-20’s 1.488mn b/d for a cumulative loss of 320,000 b/d over the past five years (see chart 3). BP was brought in during 2014 (MEES, 14 November 2014) under a technical service agreement – later upgraded to an enhanced technical service agreement (ET...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
Eni’s Zohr Under Threat From Water Infiltration
...2.7bn cfd was raised to 3.2bn cfd at the behest of Egypt’s President Abdel Fattah al-Sisi as Egypt suffered gas shortages between 2014-2017, causing countrywide power cuts. In June last year at a conference in Cairo delegates warned that over-drilling could result in the reservoir’s collapse but th...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
Yemen: Second State Firm Restarts Production
...ar that production had once again started at its Block 9 which produced 6,000 b/d before the security situation deteriorated in 2014 (MEES, 17 May). But of all these, Safer’s return, reported by Reuters, could prove to be the most consequential yet. For one thing, Block 18 is amongst the most vi...
Volume: 62Issue: 42Published at Fri, 18 Oct 2019 -
Back To The Future: Rehabilitation Of Red Sea Terminal Boosts Saudi Export Flexibility
...s been some time coming. Aramco’s 2014 Annual Review said “we completed 90% of the design package to de-mothball and integrate the Al-Mu’ajjiz Terminal.” Mr Qahtani, in his May 2017 interview, said the terminal was scheduled to be up and running this year, although the firm’s 2017 Annual Review cast do...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Iraq Continues IOC Investment Hunt, But Commitments Remain Out of Reach
...f the loss of the 310,000 b/d Baiji refinery which was badly damaged by the Islamic State in June 2014. Some capacity is being restored, and the government aims to bring on Baiji’s 70,000 b/d Salahuddin-1 unit in the near future (MEES, 29 September). Capacity gains are required given that do...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Algeria Plans New Hydrocarbons Law: Will Investors Bite?
...fficult to reach resources, including shale gas (MEES, 11 January 2013). But in 2014 the fourth licensing round brought renewed embarrassment. Sonatrach received just five bids for the 31 concessions on offer, awarding four contracts. The stark lack of interest sparked admissions from senior government of...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Libya Output Continues To Rise In Wake Of Renewed Sirte Basin Production
...scribed in its 2014 annual report as a “significantly reduced rate” (MEES, 24 April 2015). 4Q14 output averaged just 129,000 b/d, and the full year average was 50,000 b/d. Production capacity at the fields has declined in the meantime. In its 2014 report Hess said a lack of regular maintenance had im...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Libya Loses $1.2bn Goldman Sachs Court Case
...led in 2014 (MEES 2 September). The LIA claimed compensation of $1.2bn from Goldman Sachs over allegations relating to nine trades executed for the fund in the first four months of 2008 in which the bank earned more than $200mn but the LIA lost the bulk of its investment. The LIA alleged that Go...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
In Search Of An Equilibrium Oil Price
...recent IEA figures –broadly in line with those presented by companies themselves – of the 43% fall in global upstream capex between 2014 and 2016 “two thirds is due to cost reductions.” Costs fell by 15% on average in 2015 and are set to fall by a further 17% this year according to the IEA’s re...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Zueitina Restart Small Sign Of Hope For Libya’s Oil Prospects
...rkers demanding jobs from NOC brought the pipeline supplying crude to the facility to a halt (MEES, 8 May). The dispute has now been brought to a close with the promise of jobs for the protestors, Mr Lefkaih says. The terminal had only restarted on 22 February, having been out of action since April 2014...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iran Targeting $150Bn Oil & Gas Investment By 2020
...ojects, as well as export facilities boosts this figure to “over $150bn,” he says. COOPERATION WITH IOCs Though yet to be officially unveiled, details of the new IPCs have trickled out since its soft-launch in February 2014. These suggest foreign and local company cooperation will be a main theme in...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iraq’s Cash-Strapped Kurds Gear Up For Kirkuk Export Boost
...the 2014 federal budget, which has yet to be presented to parliament and is being delayed further by the ongoing dispute and is likely to see a wider deficit than forecast when it was first drafted. ...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
US Shale A Threat To Mideast Condensate, Despite Oil Price Slide
...duce the firm’s exposure to political instability. Japan’s Gulf^ Condensate Imports (‘000 B/D) 2011 2012 2013 *2014 Qatar 15...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
US Shale Vulnerability To Falling Oil Prices
...0 B/D) 2012 2014 2016 2018 2020 Eagle Ford 300 875 1048 1058 1201 Fi...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
UAE Sees Balanced 2015 Budget Despite Oil Price Fall
...UAE The UAE on 12 October approved its 2015 federal budget. The budget is balanced, with both spending and revenue projected to increase by 6.3% to Dh49.1bn ($13.4bn at the fixed $1=Dh3.6725 exchange rate) from Dh46.2bn in 2014. With inflation projected at 2.5% in 2015 by the IMF, the net in...
Volume: 57Issue: 42Published at Fri, 17 Oct 2014 -
Iraq Concludes Oil Port Expansion, Zooms In On Asian Market
...pected to rise to 4mn b/d by the end of the first quarter of 2014. Although design capacity is higher, Iraq’s export capacity prior to the maintenance work is estimated at around 2.6mn b/d. Industry sources say that current exports are running at around 2mn b/d, below the 2.3mn b/d October lo...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Saudi Arabia Looks To Hold Steady Around 10mn B/D Through Year-End
...d been identified and could be developed if needed. The last major upstream oil development was completed earlier this year, when the offshore Manifa heavy oil field was brought online and will be ramped up to its full capacity of 900,000 b/d by the end of 2014. Manifa, currently producing 50...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013