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Qatar Hopes To Start First NFE Train In 3Q 2026
...cility’s imminent start-up. The project has been in the works for more than a decade, after Qatar decided in 2014 to convert its Golden Pass import terminal into an export terminal due to the surge in US gas production (MEES, 11 July 2014). Beyond adding 23% to QatarEnergy’s current LNG capacity, it wi...
Volume: 68Issue: 50Published at Fri, 12 Dec 2025 -
Egypt To List Military-Owned Companies for Sale In Renewed Privatization Drive
...power in 2014. And just last week, the military-owned Mostakbal Misr Agency for Sustainable Development took over Egypt’s import of strategic commodities, according to a letter seen by Reuters. The agency replaces the state-owned General Authority for Supply Commodities (GASC), which has fo...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
UAE’s Wait To Tap Into Expanded Capacity Goes On
...r its flagship Murban crude export grade. The last time that Murban averaged more than that was 2014’s $99.45/B, when production of 2.78mn b/d was 270,000 b/d less than last year’s figure. With Murban prices set to drop to around $83/B this year, a sharp fall in revenue is inevitable for 2023. ME...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Iran-Aligned Militia Attacks Complicate Delicate Iraqi-US Relations
...w system to importers and banks as opposed to black market dollars. Mr Sudani’s decision in January to reinstate Ali al-‘Alak as CBI Governor proved useful, given his long working relationship with his US peers between 2014 and 2020. But the recovery remains erratic and suboptimal, with li...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Libya’s Legal Battle To Recover Billions In Overseas Assets
...bya (MEES, 13 October). Since 2014, the country has had two administrations, each with its own legislative and executive bodies. One is the internationally recognized Government of National Unity (GNU), based in the western capital of Tripoli and led by Prime Minister Abdelhamid Dbeibeh (MEES, 12 Ma...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Kuwait’s Cabinet Looks Ahead To A Troublesome 2024
...ght consecutive budget deficits between 2014/15 and 2021/22 (see chart), but since September 2017 the government has been unable to raise debt to finance these deficits as parliament has repeatedly blocked the passage of a debt law to allow state borrowing. In September, Fitch affirmed Kuwait’s ‘AA-’ ra...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
KRG Repayment Obligations Offset Oil Revenue Gains
...l prices first crashed in late 2014 the KRG has sold billions of dollars of oil in prepayment deals to secure up-front cash. It has also accrued debts to IOCs in its oil sector by failing to pay on time, and it sold a 60% stake in its key crude oil export pipeline to Russia’s Rosneft and must now pa...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Saudi Budgets For 2022 Surplus: First In Nine Years
...ices began to tumble in the second half of 2014 (see chart 1). Since then, the kingdom has notched up eight consecutive deficits for a cumulative $460bn, if the kingdom’s initial estimates for this year are accurate. For 2021, the government’s latest expectations are that it will accrue a $22.7bn de...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
LNG Prices Show No Sign Of Easing
...*South Korea, the world’s number three LNG importer paid an average of $15.92/mn BTU for November-arrival cargoes, the highest since December 2014. Taiwan, the global number five, paid an all-time high $21.32/mn BTU. *This indicates that Taiwan’s imports contained a much higher pr...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Korea Imports At 7-Yr Low
...pplier with 811,000 b/d for November. The kingdom has increased supplies to Korea by 6% year-on-year to 871,000 b/d for 11M 2020 for a market share of 32.8%. Not only is this well up on 2019’s 27.7%, but a bumper December could yet see Saudi top the annual record of 33.0% set in 2014. ...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Italy Crude Imports: Q3 Bounceback, Libya Volumes Set To Soar In Q4
...rong rebound in Q3 volumes to leave 9M 2020 imports down just 3% year-on-year (MEES, 4 December). *With little sign of a buying upturn in Q4, 2020’s Italian imports are set to come in below 2014’s 1.09mn b/d as the lowest this century. *Imports from key supplier Saudi Arabia almost halved in Q3 to...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
TransGlobe Egypt Deal: The Key To Reversing Oil Decline?
...covery techniques to eke out maximum production from mature fields. Investment (and output) collapsed along with oil prices from late 2014, but 2018 and early 2019 had been seeing something of a rebound. The turbulence of the past year has unsurprisingly caused a renewed slump. Glance at company fi...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Russia’s Tatneft Back In Libya For Seismic
...ab Geophysical Exploration Services Company (AGESCO) to complete 200 km² of seismic in Area 82’s Block 4 which was suspended in 2014. Tatneft was awarded eight exploration blocks (Areas 69, 82 & 98) in Libya in 2005 and 2007 (MEES, 28 July 2017, see map, p2). It struck oil several times, but was fo...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Leviathan: The Giant Stirs
...sult of the firm massively scaling back its plans. LEVIATHAN GAS SALES DEALS *IMPLIED AVERAGE VOLUMES. **PARTNERS' ESTIMATE BASED ON QUANTITIES CONSUMED ^MEES ESTIMATES SCALED-BACK AMBITIONS The original Phase-1 development plan filed in October 2014 was already modest in sc...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Economic Uncertainty Clouds Opec’s 2020 Vision
...dicate an additional 144mn barrels of crude will enter global stockpiles, while Opec’s numbers point to a more modest 39mn barrels. As for current inventories, the latest IEA numbers peg OECD stocks exiting October at 2.9bn barrels, fractionally (2.9mn barrels) below the 2014-18 five-year average, while Op...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Iraqi Kurdistan Poised For More Gains In 2020
...20’s potential gains are the product of sustained IOC investment in the region. Those IOCs have endured some lean times, with the share price of KRG-focused companies plummeting since early 2014 amid low oil prices, payment difficulties and delayed ramp-up plans. IOCs will feel the pressure to reward sh...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Kuwait Oil: Change At the Top As 2020 Target Dropped
...rgan was pumping at 1.7mn b/d. BP was brought in to help maintain production capacity at 1.7mn b/d with a technical service agreement (TSA) in 2014, which was subsequently upgraded to an enhanced technical service agreement (ETSA) in 2016 (MEES, 15 July 2016). Kuwait saw ETSAs as the best model fo...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Market Fundamentals Point To Choppy Outlook For Opec
...16’s 10.36mn b/d. In other words, since prices crashed in late 2014 amid the US Shale Revolution, the kingdom has actually been producing at record levels. LIGHT, TIGHT GLUT? The other key planned cuts will come from UAE, Kuwait and Iraq, and all four of these, like neighboring Ir...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Libya’s NOC Forced To Shut In Key El Sharara Field
...utdown output level of 73,000 b/d was the highest since 2014 (see chart). NOC head Mustafa Sanalla at last week’s Opec meeting, eager to avoid being subject to output limits as part of the then under-discussion output deal, complained “we have internal cuts inside the country. Unfortunately, we have so...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Qatar: New 2.5GW Plant Powers Economic Growth
...erage electricity demand growth of around 10% a year during 2014-16, according to Kahramaa data. With thousands of visitors set to descend on Qatar for the 2022 World Cup, this could mean new peak demand records. With that in mind, Qatar still has major power projects due online in the near te...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018