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Abu Dhabi Reaffirms Output Hike Pledge As Adco Stalemate Continues
...The UAE remains committed to increasing oil production to 3.5mn b/d by 2017. Delegates at last year’s Adipec conference eagerly anticipated an announcement on which companies would be awarded shares in the 40% of the Abu Dhabi Company for Onshore Petroleum Operations (Adco) concession av...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015 -
Iran: It’s All About The Contracts For Total
...d of the current government’s term in August 2017, according to a 6 November report by state news agency Mehr. The Total CEO conjectured that without foreign assistance, Iran will likely be restricted to increasing production by “300, 400, 500,000 b/d;” even after this “it will take time.” On...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015 -
IEA Rolls Up Sleeves In Run-Up To Climate Conference
...llion (ppm) by 2030 – a level deemed synonymous with limiting global warming to 2°C above pre-industrial levels. The IEA claims the transition to a low-carbon world is under way, citing the introduction of policies such as the US Clean Energy Act and China’s plans to start a carbon trading scheme in 2017...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015 -
More Pain To Come As Iea Sees $80/B ‘Rebalance’ But Not Till 2020
...2015-2020 CHANGE IN US TIGHT OIL OUTPUT AT VARIOUS OIL PRICES* (MN B/D) MARKET TO REBALANCE IN 2016? 2017? Mr Falih, the UAE’s Mr Mazru’i and Opec’s Mr Badri all are forecasting that balance will be restored to the global oil market in 2016. Mr Badri says that he ex...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015 -
Apache Hits Egypt Output Record Despite Capex Cuts
...s output of 4.2bn cfd (see graph). Apache’s Egyptian gas output peaked at 918mn cfd in Q4 2013. Eni is Egypt’s top net gas producer with 650mn cfd, almost double Apache’s net 365mn cfd, and is set to surge ahead with the planned 2017 start-up of its giant 30 tcf Zohr discovery (MEES, 6 No...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015 -
McDermott Sees Brownfield Shift In Gulf Contract Awards
...llhead jackets. Installation of two jackets in the Bul-Hanine field offshore east of Doha has been scheduled to be completed by December 2016 with the remaining two scheduled for completion in July 2017.” This month Qatari LNG producer RasGas awarded McDermott EPCI work on a flow assurance and looping pr...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015 -
Jordan Budgets For Ambitious 2016 Spending, Revenue Hike
...14 and JD520mn in 2015, and that Jordan will receive a further JD460mn in 2016 and JD400mn in 2017. But the draft 2016 budget omits a tranche of the $1.25bn originally pledged by Qatar after the latter failed to honor its pledge in the past year. Mr Tuqan blames this shortfall for the near doubling of...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015