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Libya’s NOC Announces New Sirte Basin Discovery
...ospect, where OMV last year started its first drilling campaign in Libya since the 2011 revolution (MEES, 1 November 2024). At a depth of 10,476 feet (3,193 meters), the exploratory well is expected to produce “more than 4,200 b/d of oil and around 2.6mn cfd of gas,” says NOC. Block 4 of Area 106 ad...
Volume: 68Issue: 44Published at Fri, 31 Oct 2025 -
Lebanon Approves Cyprus Maritime Border, Syria Next
...mplicated relationship with Lebanon: despite long periods of occupation, political domination and meddling, Syria has historically seen Lebanon as a ‘breakaway province’ and therefore resisted any form of boundary demarcation. Lebanon unilaterally claimed its EEZ in a letter to the United Nations in 2011...
Volume: 68Issue: 44Published at Fri, 31 Oct 2025 -
Wintershall Libya Now SOO
...oduction has been shut in since January. Output from the ‘Wintershall’ acreage was around 100,000 b/d prior to Libya’s 2011 revolution but has rarely topped 50,000 b/d since. Overall Libyan production has rebounded strongly since key export terminals were reopened last month. Output had risen to 68...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
South Sudan Mortgages Future Oil Output
...l sales in South Sudan since independence in July 2011. Between them, the two companies accounted for 11.4mn barrels of the 14mn barrels of crude marketed by the government in the first half of 2015 – more than 80% of the total. PRE-FINANCING PRECEDENT This is not the first time that Tr...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Qatar Out To Woo LNG Customers In Face Of Increased Competition
...clear fleet remained idle in the aftermath of 2011’s Fukushima disaster. It is also Qatar’s top LNG buyer: Japanese utilities took 16.14mn tons of Qatari LNG last year. But Qatar needs to be more agile if it wants to maintain export levels and revenue in the context of new LNG supplies reaching the ma...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Jordan’s Power Strain
...alth and education). But deficits by the National Electric Power Company (Nepco), which are considered sovereign debt and have helped push Jordan’s debt-to-GDP ratio back up to 80%, are off-budget. Nepco has been a major burden for the treasury since 2011, when “Arab Spring” instability brought an...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Syrian Oil Output Shrinks Further; Is An Endgame In Sight?
...eas fell to a mere 9,200 b/d for the third quarter this year, just 2% of the 387,000 b/d the country was producing before the country’s civil war broke out in 2011. Output averaged 9,688 b/d for the first nine months of this year, Syrian Oil Minister Sulaiman al-‘Abbas said this week, figures that im...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
East Med Gas Development: Pipeline Politics Drive Floating Solutions
...cosia. Mindful of the geopolitics, Eni (80%) and its partner Kogas (20%) have indicated that they would favor floating LNG (FLNG) for any discovery: the same partnership is already well advanced in pushing FLNG as a solution offshore Mozambique. For Cyprus’ only existing discovery – the 5 tcf 2011 Ap...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Suez Canal September revenue Dips Following Record august
...rth ‘000t % ‘000t % 2014 2013 2013 2012 2011 2010 Petroleum To...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
IOCS In Tunisia Look To Bureaucratic Debottlenecking
...tput since 2010. The aftermath of the 2011 revolution that toppled Ben Ali, saw substantial political instability, as a first government had to make way to a caretaker administration. As a result, exploration rights were not granted, and exploration and production permits not renewed, a serious bl...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Russia Denies Syria $1bn
...plemented by Russian companies. Russia has provided Syria with economic and military aid, as well as political support, since the beginning of the uprising in Syria in early 2011. In particular, together with Syria’s other strategic ally, Iran, it has provided Syria with oil products. Russian credit to...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
GCC Countries Face Up To Falling Oil Prices
...porters: Fiscal Breakeven Oil Price ($/B, IMF Estimates) 2011 2012 2013 2014* 2015* Algeria 109.7 12...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
GCC Ramps Up Aid
...ve been hard hit by the ongoing economic malaise in the EU, traditionally both the largest source of investment and their key export market. Lebanon and Jordan have been hit by spillovers from the war since 2011 in neighboring Syria. Though overall official external aid to these countries has mo...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Saudi Arabia: More Refining, More Burn, Less Exports (% Share Of Crude Production)
...cond 400,000 b/d plant, Yasref, starting up in late September. > Increased domestic refining has cut into the crude volumes available for export: crude exports at 6.66mn b/d were the lowest since March 2011. > Direct crude burning fell by 130,000 b/d to 770,000 b/d in August. But year-to-date vo...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Benchmark Crude Prices ($/B)
...12 2011 WTI 81.12 81.76 82.96 93.13 95.95 97.25 103.00 98.03 94...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
Security, Politics Dominate Libyan Oil Sector Concerns
...ansitional Council in 2011. Like in other fields, the oil sector will probably have to wait for political change and a permanent government, Mr Ramadan advises. “It is not the officials’ fault. They are doing a very difficult job under the circumstances. In fact they have accomplished more than ca...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Growing Gas Shortage Forces Egypt To Import LNG
...ring the current month to import petroleum products and this represents an increase of $200mn from the previous month. Egypt produced 61.3 bcm of gas in 2011 and consumed 49.6 bcm, according to the BP Statistical Review of World Energy June 2012. It exported 8.6 bcm in the form of LNG. Pi...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
South Sudan Orders Oil Production Restart
...l is currently produced in these two blocks, with Blocks 1 and 5 in the South’s Unity state contributing the balance. Total output from Blocks 3 and 7 was estimated to have hit 230,000 b/d of waxy Dar blend in 2011, compared to around 200,000 b/d in 2008. The company said in 2010 that it expected pr...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Qatar Faces LNG Market Challenges
...$100/B, $12-13/mn BTU plus usually $1-2. Spot markets are in the $13-13.50 price bracket – driven high by soaring demand following the March 2011 nuclear disaster. Some estimates put Japan’s LNG demand for the fiscal year ending March 2013 at 85-90mn t/y. Japan Gas Association says th...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Iraqi Oil Demand Bounces Back
...aqi 2010 oil demand at 32mn tons. Deciphering Iraqi supply and demand trends is a dark art, involving an appreciation of cross-border smuggling, misreporting and simple human frailty, but a rough calculation points to demand rising relatively modestly in 2011 to about 33mn tons. But this year, it has pi...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012