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Iran Dreams Of Future Upstream Boom, Eying IOC Return Should US Deal Be Reached
...ich signed up to the giant South Pars gas field’s Phase 11 project (MEES, 23 July 2017). Tehran failed to capitalize on the interest, electing for lengthy negotiations, qualification processes and unrealistic ‘technology transfer’ demands, and ultimately lost investor confidence (MEES, 22 December 2017...
Volume: 68Issue: 17Published at Fri, 25 Apr 2025 -
Iraq And US Seek To Rebuild Ties Amidst Rising Regional Tensions
...lations between Baghdad and Erbil are at their lowest ebb since the region’s controversial 2017 independence referendum. On the positive side, the disputes between Baghdad and Erbil did not derail the visit. Mr Sudani made sure to include representatives from the Kurdistan Regional Government (KRG) in hi...
Volume: 67Issue: 16Published at Fri, 19 Apr 2024 -
Qatar Snags Egypt Mediterranean Block As Relations Advance
...ismic-only commitment. Should Exxon and QE then move to a second two-year phase this comes with a commitment to drill three wells. CYPRUS CONNECTION QE’s entry into North Marakia marks a growing partnership with Exxon in the Mediterranean following the April 2017 award of Cyprus’ of...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Sunny Hill: No More Eggs, No More Basket
...layed – it was previously slated for 2017 start-up (MEES, 21 July 2017) – it was thought that Petrofac’s EPC contract had been progressing relatively smoothly, albeit with some potential pandemic-related delays. That Sonatrach is pursuing start-up just two months after the date of the original 48-month co...
Volume: 64Issue: 15Published at Fri, 16 Apr 2021 -
Saudi Nuclear Plans Fuel Geopolitical Concerns
...SSIA Certainly Russia’s Rosatom has had the most success in nuclear power awards in the Mena region. It has built the region’s first and only operational plant, at Bushehr on Iran’s Gulf coast, and is building two more (MEES, 31 March 2017). Rosatom is also slated to build Egypt’s nuclear project on th...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Battle For Tripoli Rages On
...rgoes from Libya in the first quarter. In 2018, Libya at 27% was the largest single crude supplier to OMV refineries, taking the crown from Romania, which accounted for 22% in 2017. LIBYA CRUDE OUTPUT REBOUNDS TO 1.1MN B/D IN MARCH ON EL SHARARA RESTART (MN B/D) SOURCE: MEES. ...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Egypt Gas Market Liberalization: Set For Take-Off?
...Cairo in 2017 passed a law enabling the liberalization of Egypt’s gas transmission and distribution grid. Private firms would, for a fee, be able to make use of infrastructure that will remain under the ownership of state firm Gasco. With 18 firms recently awarded licenses, and supposedly-im...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Lebanon's Gas Hype: Is It All Hot Air?
...e Lebanese Petroleum Administration (LPA) toward tendering a second bidding round. Lebanon’s first ever round ultimately offered only five of the total ten blocks delineated in 2013 (MEES, 20 October 2017). There was just one bidder, albeit a consortium consisting of three heavyweights (Total 40...
Volume: 61Issue: 17Published at Fri, 27 Apr 2018 -
Suez Canal Shipments, Revenue Up But Trade War Threatens
...container traffic the last four quarters are the four highest on record: 2017’s 471mn tons of container traffic was up 28% on 2010. • Though Egypt’s economic fortunes are generally on the up (see p12), US President Trump’s seeming desire to kick off a trade war means that it would be foolish to...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
Yemen: IOCs Eye Re-Entry Amidst Battlefield Stalemate
...Upstream return looks optimistic given lack of access to export outlets. With the third anniversary of the Saudi campaign against Iran-affiliated Houthi militants in Yemen the conflict looks ever more like a gory stalemate (MEES, 27 October 2017). With violence now largely confined to the Ho...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018 -
Saudi Vision Dims With Benefits Climbdown
...own Prince Muhammad bin Salman (MEES, 10 June 2016). Finance Minister Muhammad al-Jad’an says that the cuts’ reversal was recommended by Prince Muhammad himself, following the improvement of state finances. Deputy Economy Minister Muhammad al-Tuwaijri says the country’s Q1 2017 deficit was SR...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Tunisia Awaits $2.5bn In Fresh Aid As Economy Undershoots, Energy Bill Soars
...tes, Tunisia’s economy faces major challenges, as “fiscal and external deficits reached record levels, the wage bill as a percentage of GDP has climbed to one of the highest in the world, and public debt further increased to 63% of GDP at the end of 2016.” He went on to say that growth in 2017 is ex...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Return Of Iranian Crude Makes Big Splash In Europe
...bstantially higher figure this year, although 2011’s volume looks set to elude it. 2017 has got off to a relatively strong start according to initial results. Spain was the third largest EU buyer of Iranian crude last year with 49,900 b/d (see chart 2) and in January it lifted more than twice this at 91...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Prince Muhammad’s Vision 2030: Far Sighted Or Over-Ambitious?
...l giant Saudi Aramco, scheduled for 2017. He expects this to value the company at $2-3 trillion. The IPO will be floated on the Saudi stock market, but there are ideas of offering the Aramco shares outside Saudi Arabia, potentially via a New York-based fund. Thus Aramco will be transformed from an...
Volume: 59Issue: 17Published at Fri, 29 Apr 2016 -
Firms Face Up To Mounting Libya Write-Offs
...pairment – rated the chances of a full resumption of operations on 1 January 2016 and 1 April 2017 at 50% each. TOTAL’S LIBYA OUTPUT (‘000 B/D, NET) 2010 2011 2012 2013 20...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Egypt: Fraying At The Seams
...vestors need long-term stability where they can get the revenues of all the gas produced.” Hostile Locals Delay WND BP’s $10bn, 1bn cfd WND project has itself has been the subject of chronic delays. Germany’s RWE-Dea, BP’s minority partner, on 10 April said that start-up was now slated for 2017...
Volume: 56Issue: 15Published at Fri, 12 Apr 2013