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Libya: Waha Expansion Inches Forward
...Projects to boost Libya’s long-term output have mostly been on hold since before the 2011 revolution. But plans by the Waha Oil Company (WOC) – grouping NOC (59.18%) with US firms ConocoPhillips (16.33%), Marathon (16.33%) and Hess (8.16%) – to boost capacity from its key Sirte Basin acreage be...
Volume: 62Issue: 43Published at Fri, 25 Oct 2019 -
Libya Oil Output Boosted By Sirte Basin Rebound
...reign producer in Libya prior to the 2011 Revolution, its Q3 results on 26 October failed to include a breakdown of its operations there and an earnings call later the same day added no further detail. The firm’s Q3 results statement noted only that its overall “production volumes in exploration and pr...
Volume: 60Issue: 43Published at Fri, 27 Oct 2017 -
Medco Announces $180mn Impairment On Libya’s Area 47
...a DeGolyer and MacNaughton report in September 2008, gross contingent reserves in Area 47 are an estimated 703mn boe. In February 2011, Medco announced that it had temporarily halted exploration activities due to political instability. The company resumed operations on the Area 47 licence area in...
Volume: 60Issue: 43Published at Fri, 27 Oct 2017 -
Jordan: Opposition To Israel Gas Deal Strong But Ineffectual
...rged Egyptian gas was cut-off in 2011, its deficits were close to this $700mn figure, reflecting a state subsidy through debt. Despite the economic necessity, domestic politics weigh heavy and a letter of intent with almost identical terms that was signed in September 2014, was canned just over a ye...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
China Seeks Bigger Role In Oil Pricing
...formation Agency (EIA) said in a March 2014 report that China overtook the US to become the largest net importer of crude oil and other liquids in the world in September 2013. It also pointed out the 31% rise in US indigenous oil production, mainly from tight oil plays, between 2011 and 2014, compared with ex...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Anarchy In Libya Keeps Production Shut In
...ttle, to no centralized power, and relies on the loyalty of the militias that were formed during or after the 2011 revolution. This power vacuum gives Tripoli almost no leverage over the armed followers of Mr Jathran, and it must hope that the continued absence of revenues will lead the secessionists to pu...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
Iran: Return To Markets A Priority For Oil Ministry New Guard
...er the past three months. This represents a near 60% drop in crude oil exports since 2011, MEES estimates show. But with this month’s relative thawing of Iran-US relations bringing about a public softening of attitudes towards the Islamic Republic and its oil sector, Iranian officials ha...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
Kurds Push For Energy Independence
...ndensate) up from 300mn cfd, (MEES, 18 July 2011). “This has ensured almost continuous power supply for 4mn people in the Kurdistan Region, in contrast to the electricity crisis in other parts of Iraq, and provided $5.4bn of savings in fuel costs for the government,” Dana Gas said. ...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Sudan To Miss 2012 Oil Production Target
...or, prompting China's state-owned CNPC, which holds a majority stake in Block 6, to relinquish parts of the concession in 2005. Sudan lost around 75% of its total oil output when the South seceded in July last year (MEES, 11 July 2011), leaving the oil-dependent economy desperate for revenues and fa...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012 -
Damage To Syrian Oil Sector Estimated At $2.9Bn
...awra last week. He added that government oil facilities and associated infrastructure sustained losses of some S£5bn ($72.5mn). Oil production declined as a result of the fall in crude exports after EU sanctions were imposed on Syria in September 2011 (MEES, 12 September 2011). He explained that tr...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012