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US Blocks Gunvor-Lukoil Transaction
...nnady Timchenko exited in 2014 just ahead of being sanctioned by the US for links to Putin (MEES, 25 April 2014). Gunvor says the Treasury Department statement “is fundamentally misinformed and false,” adding that it “has for more than a decade actively distanced itself from Russia, stopped trading in...
Volume: 68Issue: 45Published at Fri, 07 Nov 2025 -
Egypt Oil Recovery Slow To Arrive: Will 2023 Be The Year?
...sert. It’s not only Apache’s rig count that has risen, the Western Desert’s overall rig count averaged 74 for Q3, the highest since Q1 2015, whilst the national total of 115 was the highest since Q4 2014. 1: APACHE'S EGYPT SPENDING AND ACTIVITY IS AT A 7-YEAR HIGH.... *INCLUDES 1/3 SINOPEC ST...
Volume: 65Issue: 45Published at Fri, 11 Nov 2022 -
Abu Dhabi Pledges Mammoth $132bn Investment With 5mn b/d Output Plan
...ly Saudi Arabia have long bemoaned the lack of global upstream investment since oil prices collapsed in the second half of 2014. Their take, alongside that of many key industry figures, is that the post-2014 collapse in final investment decisions (FIDs) on major upstream projects presages a shortfall in...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Repsol, BP & Eni Eye Algeria/Libya Border Bonus
...untry, one of just four awarded in Algeria’s most recent bid round in 2014. Boughezoul appears to have been the location of an Algerian exploration well drilled by Repsol in the first nine months of 2018 which produced a “negative result.” Repsol and Shell committed to drill two wells here: the fi...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Reality Sets In As KRG Imagines Life With Less Oil
...ongside other disputed territories which had been held by the KRG since 2014. Crucially, Kirkuk oil fields provided the KRG with around 280,000 b/d of its 610,000 b/d crude production. Kirkuk volumes also represented around 50% of the KRG’s 560,000 b/d crude exports on which government coffers de...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Mauritania Gas: Torturous Timeframe, Exploration Optimism Despite Drilling Flop
...plorer until 2014, is now close to leaving. The company then had ten Mauritania exploration blocks and operated seven, but slashed its exploration budget in response to the late-2014 oil price crash (MEES, 13 February 2015). Its number of blocks will now fall to just two, with Tullow relinquishing Bl...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Abu Dhabi Oil Shake-Up: Hold On To Your Hats
...1.4mn t/y of paraxylene and 500,000 t/y of benzene, for which Adnoc’s petrochemicals subsidiary Chemaweyaat and Thailand’s Indorama signed a joint venture agreement in late 2013 (MEES, 3 January 2014). Indorama reportedly pulled out of the project in March 2016, and Chemaweyaat has not announced an...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Iraq Oil Revenue Collapses Amid ‘Perfect Storm’
...IRAQ Baghdad is on track to pocket just $49bn in crude export revenue this year, down by 42% from 2014’s $84bn and by almost half from 2012’s record $94bn. This is despite crude export volumes having risen from 2.4mn b/d to 2.8mn b/d over the same period (see graph 1). These numbers ex...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Iraqi Provinces Push Local Oil Agenda
...e same pressures that led to the collapse of the December 2014 agreement. ‘Ammar al-Hakim, head of the Islamic Supreme Council of Iraq (ISCI), to which Mr ‘Abd al-Mahdi also belongs, visited Erbil on 3 November, for talks with the KRG. However, this was arguably about portraying ISCI as a party th...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
DNO: KRG Payments Not Enough
...so prompted protests over the summer in KRG’s second city of Sulaimaniyah, which is controlled by the rival PUK. Moreover, the December 2014 revenue sharing agreement with Baghdad under which the KRG received 17% of the budget in return for exporting 555,000 b/d through the federal export system (25...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Netanyahu Bends The Law In Bid To Advance Leviathan
...viathan gas field. Mr Netanyahu stepped in, in seeming exasperation after former Economy Minister Aryeh Deri’s proved unwilling to reverse former Antitrust Commissioner David Gilo’s December 2014 ruling that US firm Noble and its partner offshore Israel, Tel-Aviv based Delek Group, formed a monopoly wh...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Saudi Talks Up Ccs Ahead Of Paris Meet, Other Opec Members Lag
...O Carbon Tracker notes. Three other Opec members – Algeria, Ecuador and the UAE – have also submitted INDCs. The UAE committed to “limit” emissions and increase the share of “clean energy” in its primary energy mix to 24% by 2021, from just 0.2% in 2014. Saudi Arabia is likely to come up with eq...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Iraq Says OPEC ‘Price War’ Partly To Blame For Revenue Fall, $84Bn Deficit
...velopment Fund for Iraq (DFI), which is held in New York and contains receipts from oil exports, in order to finance what he says is runaway spending that is not matched by revenues. Speaking to a special session of the cabinet on 3 November to discuss the 2014 budget, which has yet to be submitted to pa...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Saudi Arabia’s Major Gas Development Stalls
...arter, maintains a completion date of end 2014 for Wasit, which will be one of the biggest non-associated gas plants in the kingdom. Its integrated facilities will process 2.6bn cfd of non-associated gas from the offshore Arabiyah and Hasbah fields. Under normal conditions, it will provide 1.7bn cfd of sa...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Baghdad Caught in North-South Pincer As Basra Oil Heartland Seeks Autonomy
...th Ankara for 10 bcm/year of gas from its Dohuk license in early 2014. Mr Shahristani, who is deputy PM for Energy, has warned that Baghdad would consider any unauthorized oil exports from the KRG as the smuggling of Iraqi oil and threatened to take action against Erbil and Ankara, though there ha...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
BP Inks Kirkuk Deal
...5,000 b/d. However, Lukoil’s West Qurna-2 field development, which had been due to start up in 2013, has been pushed back to early 2014 due partly to protests earlier this year by Basra tribes who had expected to see more benefit from the operations of the foreign oil majors....
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Egypt Touts Block Awards But IOC Debts Mount
...periencing chronic delays. Originally slated for start-up in 2014, the 1bn cfd project will now likely come online in 2017. It is a delay that gas hungry Egypt can ill afford, and the government’s eagerness for future supply provides a powerful rationale for not letting payments to BP slip further....
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Iran Targets Oman As Future Gas Export Hub
...gust). The two sides are hoping to sign the contract by the end of the Iranian year (ending March 2014). But before that can happen, Muscat and Tehran will have to navigate the often muddy waters of price negotiations – something which has historically proved to be much easier said than done. “We have no...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Jordan LNG, Storage Plans
...JORDAN Jordan LNG, Storage Plans Thirteen companies and consortia have been prequalified by Jordan’s Ministry of Energy and Mineral Resources to build a strategic products reserves terminal to the east of ‘Amman during 2014-15. The terminal will store 250,000-300,000 tons of...
Volume: 56Issue: 45Published at Fri, 08 Nov 2013 -
Iraqi Oil Sector Set For Major Change
...d his political ally, Deputy Prime Minister, Husain al-Shahristani. The latter is widely talked of as a challenger to Mr Maliki in the 2014 elections. Despite the recent agreement over a restart to KRG oil exports and a face-to-face meeting with his rival KRG Natural Resources Minister, Ashti Ha...
Volume: 55Issue: 45Published at Fri, 02 Nov 2012