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Mauritania’s Banda Integrated Gas Project Progresses
...ergy needs. UK based Tullow took Banda in 2011 from Malaysia’s Petronas and announced commerciality a year later (MEES, 22 February 2013) before having to cut back on investments when prices began to drop in 2014. Development plans only recovered recently when Banda and the nearby 0.9tcf Tevet fi...
Volume: 68Issue: 46Published at Fri, 14 Nov 2025 -
Total’s Libya Expansion: Done & Dusted?
...sin which has been shut in since 2014 when an Islamic State attack severely damaged its surface infrastructure. The plan here was to start the field up in early 2023 at a rate of 25,000 b/d before boosting to 40,000 b/d (MEES, 10 December 2021). On 16 November, Total executives held a meeting with NO...
Volume: 65Issue: 46Published at Fri, 18 Nov 2022 -
Saudi Arabia Wary of Iraq’s New Iran-Backed Leader
...liki exited office in 2014 that Gulf States moved to thaw relations with Iraq. They viewed his close links to Tehran with consternation, but their cold approach to Mr Maliki arguably pushed him even closer to Iran. Mr Sudani is linked to Mr Maliki by more than just their shared membership of the Sh...
Volume: 65Issue: 46Published at Fri, 18 Nov 2022 -
Spain Crude Imports: Mideast Share Down Again
...18. For 2020 Mideast volumes of 181,000 b/d were the lowest on record but volumes have since fallen further to just 150,000 b/d for 9M2021, whilst the region’s 13.5% market share is on track to come in below 2014’s record annual low of 15.4%. Key Gulf supplier Saudi Arabia, at 81,200 b/d for 9M 2021, is...
Volume: 64Issue: 46Published at Fri, 19 Nov 2021 -
Egypt’s Midsize Gas Producers: Output Down But Receivables Down Too
...om the KRG and $125mn in Egypt where Dana’s receivables bill fell to $65mn as of end-September, the lowest level in over a decade and down $17mn versus the figure three months earlier. Energean, likewise, saw its receivables fall in Q3, to $145mn, the lowest level since 2014 though down only sl...
Volume: 64Issue: 46Published at Fri, 19 Nov 2021 -
Asian LNG: Spot Prices Still At Record Levels, Term Prices Continue To Climb
...ese are also edging higher. Korean importers paid an average of $13.31/mn BTU for October imports, the highest since March 2015, whilst the $12.36/mn BTU paid by Taiwan was the highest since December 2014. *The key element in Asian LNG pricing formulas is crude prices, and back in 2014 crude pr...
Volume: 64Issue: 46Published at Fri, 19 Nov 2021 -
Oman To Introduce Income Tax: Will Rest Of GCC Follow?
...er $100/B prior to late 2014, Oman was still unable to balance the budget as Muscat looked to avoid contagion from the 2011 ‘Arab Spring’ with 2012-14 spending blowouts. While the government is seemingly unable to reduce spending on salaries, the looming implementation of 5% VAT will have a si...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
India Crude: Saudi Squeezed
...India’s crude imports remain well down on year-ago levels as Covid-19 infection rates and the impact on the country’s economy remain high. September’s crude imports of 3.14mn b/d were the third lowest since 2014; only May and July, at the height of lockdown, were lower. Average 9M 2020 im...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
Adnoc Gas Strategy Surges Forward
...s strategy aimed at achieving self-sufficiency for the UAE by 2030 (MEES, 9 November 2018) there are already clear signs of progress. The UAE’s net gas imports fell to 11.9bcm (1.15bn cfd) for 2018, the lowest since 2014, as output climbed faster than demand. Adnoc’s stated project targets are ea...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Oman Offshore Ambitions Creep Forward
...rway’s DNO and Korea’s LG International allowed the contract to expire in January (MEES, 4 January). OOCEP subsidiary Musandam Oil and Gas Company has since taken over. The two Bukha fields, within Oman’s only offshore producing license, produced a modest 15,700 barrels of oil equivalent per day in 2014...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Aramco Kicks Off Share Offering: But At What Price?
...ten repeated in recent months, the implied $2trillion overall figure, but also the desire for the flotation to be the largest ever IPO – surpassing the $25bn raised by the 2014 float of Chinese e-commerce giant Ali Baba. VOLUME VS VALUATION? Of course, the two aims are somewhat co...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
IEA Extends Opec’s Market Share Purgatory
...urces of production, including tight oil.” This indeed describes Opec’s 2014-15 ‘market share’ policy as driven by former Saudi oil minister Ali Naimi (MEES, 19 December 2014). Such a policy ostensibly looks an attractive long-term option for the likes of Saudi Arabia and the UAE. However, it wo...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Iran Ups Geopolitical Stakes With Nuclear Advances
...at is expected to take six years. The Bushehr-2 plant will be built by Russia’s Rosatom, under a 2014 agreement between Moscow and Iran for the construction of four new 1GW plants at Bushehr. Rosatom completed the Bushehr-1 reactor in 2011, generating electricity from fuel rods supplied by Ru...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
SEC Switches Privatization Plan From Sell-Off To IPPs
...abian Bemco for Qurrayah (MEES, 10 January 2014); and Acwa and Korea’s Samsung for Rabigh-2 (MEES, 6 December 2013). Of the 2019 projects, 10MW Layla Al-Aflaj solar, built with government institutes Kacst and Taqnia, started up in January. The 1.5GW Al-Fadhili cogeneration plant, built with state pe...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Morocco Pushing Renewables, Eyes LNG Imports In Bid For Cleaner Power
...art). Morocco overtook Egypt as Mena’s largest wind generator in 2014 (MEES, 27 April). Morocco added to its wind capacity in June with the completion of the 120MW Khalladi wind farm at Jbel Sendouq, 30km from Tangier. The farm was developed by Saudi private firm Acwa Power at a cost of $170mn, wi...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Tunisia Struggles To Cash In On Democracy
...nis had an opportunity following the 2014 oil price slump to reduce its burden on the budget, but that train has come and gone and higher prices are now causing a massive headache for the fractured government. Although Tunis has incrementally raised fuel prices, thereby reducing subsidies, the su...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Abu Dhabi’s Taqa: Power Steady But Upstream Slumps With Capex Cuts
...20.71bn ($5.64bn) in Q1-3 2014 when Brent prices averaged $107/B. POWER VS UPSTREAM: THE HARE & THE TORTOISE 2014 also marked the peak of the relative importance of the firm’s upstream oil and gas segment relative to the much more steady earnings mainly from Abu Dhabi’s power market wh...
Volume: 60Issue: 46Published at Fri, 17 Nov 2017 -
Gulf SWFs Overhaul Their Strategies For A ‘Lower For Longer’ World
...plug deficits,” Elliot Hentov of State Street Global Advisors tells MEES. “The net effect is that they are still providing liquidity but the trend has dramatically slowed.” GCC SWFs’ total assets increased by $404bn from $2,519bn in October 2014 to $2,923bn in November 2017, a 16% rise, ac...
Volume: 60Issue: 46Published at Fri, 17 Nov 2017 -
BP Can’t Stop Falling For Low Cost Mideast Output
...lds the Kirkuk field’s Avana and Baba domes with a combined 160,000 b/d capacity, and has asked BP to help develop the field (MEES, 3 November). BP signed a deal to study the field in November 2013 with a view to further development, but the 2014 advance of IS put this on ice. Mr Townshend says he ha...
Volume: 60Issue: 46Published at Fri, 17 Nov 2017 -
Taiwan’s LNG Imports Boosted As Government Plans To Exit Nuclear
...elled power generation. One 600MW reactor at Chinshan has been out of action since the end of 2014 due to technical problems. But the government’s anti-nuclear policy means it is unlikely to come back online with the plant approaching the end of its life in 2018. Technical issues also led to the cl...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016