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Kurdistan Slams Baghdad Over Continued Pipeline Closure
...rkuk-Ceyhan crude oil export pipeline which has been offline since the Islamic State damaged it in 2014 (see map, p10 & MEES, 12 April). Iraq optimistically says the pipeline could be up and running by the end of this month – mere days away – and will be capable of exporting 350,000 b/d. MEES un...
Volume: 67Issue: 17Published at Fri, 26 Apr 2024 -
Iraq Awards Akkas To Ukrainian Unknowns
...rce majeure in 2014 when the field was overrun by Islamic State militants, and even after the area was retaken by Iraqi security forces cited security concerns and refused to resume work. More recently Saudi Aramco was tapped for the project amid a thawing of relations between the two Gulf ne...
Volume: 67Issue: 17Published at Fri, 26 Apr 2024 -
Egypt-Turkey Talks: Gaza Conflict Tops Agenda As Relations Thaw
...RMALIZATION The landmark presidential visits are the first since relations soured over a decade ago after Sisi ousted Turkey-backed Islamist President Mohamed Mursi in a 2013 military coup (MEES, 5 July 2013), assuming the presidency a year later (MEES, 26 June 2014). In the years that followed, Turkey gr...
Volume: 67Issue: 17Published at Fri, 26 Apr 2024 -
Libya’s Mabruk: 2025 Restart?
...France’s TotalEnergies reveals in its 2023 annual report on 29 March that output at Libya’s Mabruk field will restart next year at best. The field in Libya’s Sirte Basin oil heartland has not produced since being overrun and badly damaged by IS-affiliated militants in December 2014 (MEES, 6 Ma...
Volume: 67Issue: 14Published at Fri, 05 Apr 2024 -
Baghdad & KRG Sign Landmark ‘Temporary Deal’ To Resume Exports
...t to restart. Ankara’s strict implementation of the ICC ruling which covered exports from 2014 to 2018 appears more directed at pressing Iraq not to file for additional compensation for the period of 2019 onwards and to negotiate a settlement of the approximately $1.5bn reward granted. With that be...
Volume: 66Issue: 14Published at Fri, 07 Apr 2023 -
Baghdad Sends Fresh Oil Sector Demands to Erbil
...s resources in Iraqi Kurdistan back in 2014 it chose the more-lucrative production sharing agreement (PSA) contractual model allowing foreign operators a share of the volume of oil produced, rather than the technical services contract (TSC) model used by Baghdad. Baghdad meanwhile treats IOCs as se...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Tunisia Oil & Gas: Major Exodus Looms
...er. There have been no major exploration campaigns or projects of late. And if it wasn’t for the need to see Nawara, on which it took FID in 2014, through to start up, there is little reason to believe OMV would still be in Tunisia. Instead, would it not be better to have smaller but more en...
Volume: 64Issue: 13Published at Fri, 02 Apr 2021 -
Libya’s Financial Vulnerabilities Laid Bare By Dwindling Oil Revenue
...consultation with Libya’s internationally recognised Government of National Accord (GNA) based in the capital. STATE FAILURE Such is the level of state failure in Libya, that since a political crisis in 2014 it has had two rival governments, two central banks and two national oi...
Volume: 63Issue: 17Published at Fri, 24 Apr 2020 -
Syria Emerges As Iran’s Top Crude ‘Customer’
...e embattled Assad government lost key northeastern fields to Kurdish-led forces and key Euphrates fields (once Shell and Total-operated) to various rebel groups, sending oil output to 28,000 b/d in 2013 and 9,000 b/d in 2014, where it remained for four years. Damascus subsequently developed a sh...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Saudi Nuclear Plans Fuel Geopolitical Concerns
...yadh. The plant is being built by Argentina’s state-owned Invap, under a contract signed with Kacst in 2014. The 30kW rated unit will produce neutron beams for research, training and manufacturing medical isotopes, as opposed to heat for driving steam turbines as in a nuclear power plant. While this wi...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Egypt Gas Market Liberalization: Set For Take-Off?
...minent gas imports from Israel resting on the new framework, MEES examines the state of play. Egypt on 1 August 2017 passed legislation to enable use of the country’s 7,600km main gas grid by private sector operators. Long-mooted liberalization plans gained traction in 2014-15 as slumping domestic ou...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Algeria: Bouteflika Out, But What Next?
...the protests is Algerians’ inability to see a bright future with the current system in place. Half of the country’s 42mn population is under the age of 30 and youth unemployment is close to 30%. In the good times of high oil prices, the ruling elite was able to buy its way out of trouble, but the 2014...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Suez Canal Shipments, Revenue Up But Trade War Threatens
...0,000 b/d as the highest on record. • For the moment the Suez Canal is reaping the benefits of the massive Gulf (in particular Saudi) 2014-17 expansion in refining capacity and diesel output, with Europe the key target export market. Saudi exported a record 2mn b/d of oil products in February with di...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
Yemen: IOCs Eye Re-Entry Amidst Battlefield Stalemate
...OMV’s 2014 global net liquids output. But this share was set to rise from 14,500 b/d (6,400 b/d net to OMV) for 2014 to 23,000 b/d in 2016 with the culmination of €1.9bn development plans. Late-2014 saw the start-up of five wells and two early production facilities, with a further 15 wells pl...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018 -
Prince Muhammad’s Vision 2030: Far Sighted Or Over-Ambitious?
...ars designed to end the kingdom’s “addiction to oil.” With a large dose of optimism the prince envisages that the kingdom will be able to survive without oil by 2020. Given that oil represented 87% of the kingdom’s export revenue in 2014, and even after oil prices collapsed, was still 73% last ye...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Libya Unity Government Faces Huge Challenges
...tions. Senior diplomats from first Italy (who sent foreign minister Paolo Gentiloni) and then the UK, France and Spain held face to face talks with the council in their first visits to Libya since EU embassies were closed for security reasons in 2014. There are some signs of political support for the co...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Iraqi Parliament Crisis Deepens Policy Paralysis
...ecting Mr ‘Abadi in 2014, and has generally stood by him in his fights with other Shia leaders. But, once it became clear he intended to remove all political figures from the cabinet, it turned sharply against him. The 2014 agreement had given ISCI three ministries, most notably oil, and they would not gi...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Abadi Surprises By Choice Of Left-Field Kurd As Oil Minister
...onomy and is producing more than 4mn b/d. Low oil prices mean it is strapped for cash and asking international oil companies (IOCs) to cut spending, yet still looks to boost production by 2mn b/d by 2020. Oil revenues slumped from $84.1bn in 2014 to just $49bn last year. Despite record exports, mo...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Firms Face Up To Mounting Libya Write-Offs
...om which they see no imminent return from production. Production in Libya by France’s Total dropped to an average of 27,000 boe/d in 2014, its lowest level since 2011, according to figures published in the company’s 2014 yearbook, on 15 April. Production dropped from 50,000 boe/d in 2013, having pe...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Libya: UN Optimism On Talks Belies War Preparations On The Ground
...not only fraught with practical difficulties and security risks, but also risks attracting UN sanctions. The UN Security Council stated in late 2014 that only oil sales through the Tripoli-based National Oil Corporation (NOC) would be recognized. Neither the Tripoli-based governor of the Central Ba...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015