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Neutral Zone Output Steady As Partners Seek Capacity Gains
...4,000 b/d (MEES, 31 January). That was the last full year of production before fields were shut from late-2014 onwards amid disagreements over management between Saudi Arabia and Kuwait (MEES, 24 October 2014). Operations are now in full swing after that prolonged shut-in, with expansion work underway. Mu...
Volume: 68Issue: 34Published at Fri, 22 Aug 2025 -
Apache Egypt Gas Gains Gather Pace, Oil Recovery Proves Elusive
...ached in the first quarter of 2014. “In Egypt, we again exceeded our quarterly gas production guidance, driven by the strong performance of our recent discoveries,” CEO John Christmann told his firm’s 7 August, Q2 earnings call. Significantly for Apache and Egypt, which is desperate for gas, ou...
Volume: 68Issue: 33Published at Fri, 15 Aug 2025 -
Amea Joins $290mn Morocco Desalination Project Amid Controversy
...adir reverse osmosis desalination project in Morocco, the UAE-based firm announced on 1 August, marking its first such project in North Africa. Development of the 275,000 m³/d first phase was awarded in 2014 to Spanish firm Abengoa and came online in 2022 (MEES, 21 November 2014). Abengoa has since be...
Volume: 68Issue: 32Published at Fri, 08 Aug 2025 -
BP Back At Iraq’s Kirkuk
...der the auspices of a 2013 MoU which was disrupted by Islamic State’s 2014 takeover of much of northern Iraq, with the major restarting work in 2018. BP says the scope of the new MoU encompasses rehabilitation of existing facilities, construction of new facilities including gas expansion projects, an...
Volume: 67Issue: 31Published at Fri, 02 Aug 2024 -
Egypt Oil Output Gains Pick Up Pace But Gas Woes Continue
...e rest of the year that will come online,” he says. The Western Desert’s total rig count averaged 79 for Q2 this year, the highest since Q4 2014. Egypt remains a key region for Apache, with ‘Apache Egypt’ capex (including a 1/3 stake held by China’s Sinopec) rising 8% quarter-on-quarter to $20...
Volume: 66Issue: 32Published at Fri, 11 Aug 2023 -
Libya Exploration Looking Up As Eni & BP Lift Force Majeure
...11. It again planned to kick off drilling in 2012 before instability picked up (MEES, 4 June 2012). BP declared force majeure in 2014, and in 2015 wrote off the $598mn it had spent up till then on “exploration and other costs in Libya” (MEES, 31 July 2015). Eni in 2018 agreed to take over as op...
Volume: 66Issue: 31Published at Fri, 04 Aug 2023 -
Softening Oil Sector Puts Brakes On Saudi Growth
...in Q2 according to preliminary government figures, to 5.5% from Q1’s 5.4%. It has now notched up five consecutive quarters above 5% for the first time since 2014. However, given the extent to which the economy is dominated by the oil and gas sector – which is itself undergoing an extensive ca...
Volume: 66Issue: 31Published at Fri, 04 Aug 2023 -
Anbar Power Plants To Build Case For Akkas Gas?
...t the country’s ongoing political stalemate has prevented any contracts from being signed. Akkas, located in Iraq’s western Anbar province was originally to be developed by Korea’s Kogas under a 2010 contract. But instability in the region deterred Kogas, and the firm declared force majeure in 2014...
Volume: 65Issue: 34Published at Fri, 26 Aug 2022 -
Saudi Arabia Rockets Towards $250bn Trade Surplus
...RTHER Saudi Arabia is investing heavily to diversify its revenues and has successfully built up its tax base, but when it comes to export revenues, oil remains dominant at some 80% of the total. And oil revenues climbed to their highest level since at least 2014 in June according to the latest go...
Volume: 65Issue: 34Published at Fri, 26 Aug 2022 -
Iraq Hopes To Slash Products Imports By 60% From Next Year
...cord levels this year. The Karbala project had seen years of delay since its EPC contract was awarded in 2014 to a Korean consortium led by Hyundai Engineering (MEES, 10 January 2014). Former oil minister Thamir al-Ghadhban told MEES in 2019 that delayed payments by the government were the culprit (ME...
Volume: 65Issue: 33Published at Fri, 19 Aug 2022 -
Oman’s Economy Rebounds With $2bn 1H Surplus
...08. Q2’s surplus of $1.12bn was up fractionally on Q1 (MEES, 27 May) for the highest quarterly figure since Q1 2014. Revenues were up across the board, with total 1H revenue of $17.47bn up 54% on 1H 2021 for the highest 1H figure since 2014 (see chart). Oman is on track to smash the plans set out in...
Volume: 65Issue: 32Published at Fri, 12 Aug 2022 -
Iran’s Energy Sector: Lots Of Bluster But Limited Progress
...at under the Gazprom MoU, “it was decided...to jointly implement a project to supply gas to Oman and Pakistan.” This is a reference to two gas export pipeline projects that have long been planned by Iran but which have gone nowhere. For Oman, a deal was inked in 2014 for Iran to export up to 10 bc...
Volume: 65Issue: 31Published at Fri, 05 Aug 2022 -
Qatar Export Revenues Soar Amid Tight LNG Market
...port revenues of $63.1bn – and ought to overtake 2021 full-year figures of $73.56bn during the current quarter. For 2022 as a whole a figure close to 2014’s $113bn hydrocarbon exports is on the cards. The eight-year high export figures pushed Qatar’s trade surplus up to $47.6bn over the first half of...
Volume: 65Issue: 31Published at Fri, 05 Aug 2022 -
Power Struggles Threaten Libya’s Oil Rebound
...e east and west. This was the story of Libya between 2014 and 2021. DIVISION REDUX? The eastern-aligned speaker of the country’s parliament, Aguila Saleh, has already suggested a rival government could be set up in the east in the absence of a vote. And last week Mr Saleh accused the Pr...
Volume: 64Issue: 34Published at Fri, 27 Aug 2021 -
Libya Eyes Mabruk Field Redevelopment
...Libya’s Mabruk Oil Operations this month presented a redevelopment plan for the 34,000 b/d Mabruk field which has been offline since 2014 due to an Islamic State attack (MEES, 6 March 2015). Mabruk Oil, a 49:51 JV between France’s TotalEnergies and NOC, says it aims to restart the field in Oc...
Volume: 64Issue: 34Published at Fri, 27 Aug 2021 -
Baghdad-KRG Payment Woes
...aq’s International Chamber of Commerce arbitration with Turkey over of the KRG’s use of the Turkish section of the former Kirkuk-Ceyhan pipeline (MEES, 20 May 2014). Mr Allawi says he “hears that Iraq’s position is strong” and that the decision might be “favorable.” Iraq claims $26bn in losses, cl...
Volume: 64Issue: 33Published at Fri, 20 Aug 2021 -
LNG Prices Soar Yet Higher As Taiwan Enjoys ‘Qatar Discount’
...*Asian spot LNG prices have soared to $17/mn BTU as per the latest Reuters assessments. Values for the recently-completed September trading window averaged $15.50/mn BTU. Excepting an acute spike at the start of this year, the latest values are the highest since early 2014. *“Most of...
Volume: 64Issue: 33Published at Fri, 20 Aug 2021 -
Apache Eyes 2H Western Desert Gains, More For 2022
...ypt, up from a Q2 average of six and just five – the lowest in well over a decade – for the preceding three quarters. But activity and spending remains low by any sort of historical perspective: the average 2014 rig count was 27 (see chart 2). Q2 saw 13 drilled and completed wells up from just six in...
Volume: 64Issue: 32Published at Fri, 13 Aug 2021 -
Eni Sees Egypt Receivables Again Raise Their Head
...Egypt. Eni’s Egypt receivables peaked at €1.20bn ($1.64bn) in mid-2014 as overall dues owed by Egyptian state oil firm EGPC to IOCs hit a record $7.5bn (MEES, 8 August 2014). Of course, the key event to have happened to Eni in Egypt since 2014 was the August 2015 discovery of the giant Zohr ga...
Volume: 64Issue: 32Published at Fri, 13 Aug 2021 -
Saudi Deficit Shrinks To Two Year Low
...Six months into 2021 and Saudi Arabia looks on course to post its smallest annual deficit since the 2014 oil price crash, even if spending picks up in the second half. Saudi Arabia has posted its smallest quarterly budget deficit in more than two years, with the figure shrinking to just $1....
Volume: 64Issue: 32Published at Fri, 13 Aug 2021