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KRG-Baghdad Deal Needed To Unlock Northern Potential
...fore the recapture of Kirkuk: federal Iraq stopped exporting via its own Kirkuk-Ceyhan pipeline in April 2014 when Islamic State fighters entered the region, which forced Baghdad to strike a deal to export via the KRG pipeline in late 2014, facilitated by now-PM Mr. Abd al-Mahdi (MEES, 21 November 2014...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Eni Grows North African Presence
...natrach CEO Abdelmoumen Ould Kaddour, Algeria has made a flurry of deals with IOCs in recent months although crippling red tape often means projects are subject to major delays. Firms are wary of this, resulting in underwhelming interest in the country’s most recent 2014 bid round which saw a meagre fo...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Qatar’s Export Revenues Hit A Four-Year High Despite Ongoing Embargo
...19. These increases contributed to Qatar achieving its first quarterly budget surplus since 4Q 2015 in 1Q 2018, albeit a modest $260mn (MEES, 3 August). Latest figures show it backed this up with a $1.67bn Q2 surplus, putting the emirate on track to secure its first annual budget surplus since 2014’s $25...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
IMO Tightening Sulfur Limits In Bunker Fuels: Will Mena Refiners Cope?
...ovide IMO-compliant fuels is unclear. Libya has three refineries, but these have mainly been shut in by security concerns of late. Libya’s last data submission to Jodi was in March 2014, when the plants processed 116,000 b/d of crude. Output included 33,000 b/d of fuel oil, of which 4,000 b/d was ex...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Egypt Economy Marches Upwards, But Higher Oil Prices Hit Subsidy Reforms
...th May’s $503.1mn the highest since August 2014 (MEES, 26 October). Its share of state revenue has also risen from 11% in 2016-17 to 12% in 2017-18. After a sluggish start, Egypt is now reaping the rewards of its $8.5bn August 2015 canal expansion. Revenues fell in 2015 and 2016 but rose in 2017 an...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Iran Reshuffles Cabinet Ahead Of US Sanctions
...change was in April 2014 at the height of US and EU sanctions, but this failed with just one very small lot of crude oil sold. Exporting oil by the private sector also risks encouraging corruption in countries under sanctions, as witnessed in Iran with the notorious case of Babak Zanjani, the Iranian bu...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018