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Libya: Total/Conoco Waha Deal Confusion Highlights Control Vacuum
...oject and the restart of the Dahra-Bahi field (MEES, 6 November 2020). Beyond Waha, Total wants to restart its Mabruk field which saw its surface facilities trashed by Islamic State in 2014. Mr Pouyanné says the target here is to restore output to 40,000 b/d. A Total source told MEES that this was cu...
Volume: 64Issue: 47Published at Fri, 26 Nov 2021 -
Iraq Lowers Rumaila Output Target
...Iraq appears to have significantly reduced the production plateau target (PPT) of its largest field, Rumaila, from 2.1mn b/d to 1.7mn b/d. This is another marked reduction, after operator BP negotiated a downwards revision from 2.85mn b/d to 2.1mn b/d back in 2014 (MEES, 5 September 2014). Ca...
Volume: 64Issue: 47Published at Fri, 26 Nov 2021 -
The Curious Case Of Algeria’s Hassi R’Mel
...S IS LESS THAN HALF GROSS OUTPUT (BCM) *JODI FIGURES USED FROM 2014. SOURCE: ALGERIA’S ENERGY MINISTRY, OPEC ASB, JODI, GCEF, IMF, MEES. ALGERIA’S BEATING HEART: HASSI R’MEL SACRIFICING GAS FOR OIL The massive use of reinjection means that Algeria’s sales gas output de...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Kuwait Oil Company Looks To Heavy Oil To Offset Capacity Declines
...nventional fields in North Kuwait. There, capacity has dropped by 130,000 b/d since 2017-18 to just 640,000 b/d. As with Burgan, capacity at North Kuwait has been hindered by project delays. Kuwait awarded contracts for three gathering centers (GC-29, 30 and 31) in 2014: at the time start-up was slated fo...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Algerian Gas Exports Set For Quarter-Century Low
...e first nine months of 2019 is down 9% year on year: having received a boost from key field start-ups in 2016-18 production has fallen back to 2014 levels. And while the third quarter has historically seen output drops, 3Q 2019’s 18.89bcm (7.25bn cfd) was the lowest in years and down 5% year on ye...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Omani Economy Looking Up Despite S&P Downgrade
...ude prices have taken a toll on Oman’s government coffers. Nominal GDP fell from OR31.5bn ($81.8bn) in 2014 to just OR25.5bn ($66.3bn) last year. But things have started looking up in recent months, with higher oil prices and BP starting up its key Khazzan gas project in September. Ne...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Total Aims To Become Mena’s Dominant IOC
...eld takes over in June 2017 and could provide Total with around 90,000 b/d, potentially seeing it overtake ExxonMobil to claim top spot in the region for liquids. 1: TOTAL CLAIMS 40% UPSTREAM COST CUTS SINCE 2014 SOURCE: TOTAL, MEES. 2: TOTAL'S RENEWED ADCO SHARE SEES IT OV...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Saudi Crude Output Up But Refiners Put Squeeze On Exports
...ile September’s 744,000 b/d feed to electricity generators is below the summer peak of 894,000 b/d – itself just short of an all-time record – it is still seasonally high, some 15% higher than 648,000 b/d for September 2014. Refinery crude intake reached a new record of 2.50mn b/d in October, with th...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Baghdad, Erbil Find Common Cause As Oil Price Falls
...port assumption in the 2014 draft budget. The KRG agreed to place 150,000 b/d of its crude at the disposal of the Iraqi oil marketing organization SOMO in return for the release of $500mn to pay salaries and cover other administrative costs. Iraq’s Finance Minister Hoshyar Zebari, a Kurd, said on 19...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
The Oil Price Slide: Just How Bad Is It For Iran?
...enarios, and have considered the consequences of choosing any of the oil prices between $70-80/B,” he said without going into any further detail. The government is hoping to settle on a figure by 22 November. This is in contrast with the budget for the current Iranian year (21 March 2014 – 20 March 20...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Algeria Surplus Down
...ALGERIA Algeria Surplus Down Algeria’s trade surplus in the first nine months of 2014 has fallen by 18.2% to $5.4bn, from $6.6bn in the corresponding period of 2013, latest official customs statistics show. The value of exports stood at $49.23bn, of which $47.18bn (96%) came from oil an...
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Kuwait Withdraws From Key Neutral Zone Project
...e second quarter of 2014. Kuwait Crude Production (‘000 b/d)* ...
Volume: 56Issue: 47Published at Fri, 22 Nov 2013 -
Abu Dhabi Concession - Game On For BP
...erations (ADCO) consortium whose concession to run the emirate’s major onshore oil fields expires on 11 January 2014. UK Prime Minister David Cameron visited the UAE in early November to meet UAE President Shaikh Khalifa bin Zayid al-Nuhayyan and Crown Prince Shaikh Muhammad bin Zayid al-Nu...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
Abu Dhabi Looks To Offshore Future
...t to start ramping up end 2014-early 2015 and hit its 750,000 b/d target in 2016. Construction of the first island, North Island, with targeted capacity of 279,000 b/d, a planned permanent population of 500 workers and 200 well slots, has just been completed. Total island facilities’ pr...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012 -
KOC Eyes $56bn Investment Bonanza
...pital expenditure of $11.5bn in 2012-13, $5.9bn in 2013-14, $11.4bn in 2014-15, $12.5bn in 2015-16, $9.1bn in 2016-17, and $5.4bn in 2017-18. Bad Press To some Kuwait may appear a poster child for how not to run an oil industry. But while there are clear issues surrounding pa...
Volume: 55Issue: 47Published at Fri, 16 Nov 2012