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Aphrodite Advancing
...wMed estimates first gas at Aphrodite for 2031, a date which has irked Cypriot authorities who believe the field, discovered in 2011, could be developed sooner. NewMed and Chevron are also partners in Leviathan, where the Israeli company has a 45.34% stake. Chevron’s Mr Nelson also hinted that th...
Volume: 68Issue: 32Published at Fri, 08 Aug 2025 -
Eni, BP Sign Egypt Deal Ahead of Exploration Drilling
...at the exploration well Eni and BP are planning will be in the Denise development lease and has been on the cards for some time. The well will be drilled before the end of the year. Output from the Temsah concession peaked at more than 1bn cfd in 2011 and 2012, but dropped to just 60mn cfd in 20...
Volume: 68Issue: 32Published at Fri, 08 Aug 2025 -
Cronos: Time For Cyprus Field To Shine
...SITION Cronos looks set to become Cyprus’ first gas producing field. The Mediterranean island’s first gas discovery, the 3.5tcf Aphrodite, made in 2011 and operated by US major Chevron, has fallen behind Cronos despite an approved development plan (MEES, 21 February). Chevron is currently in the pre-FE...
Volume: 68Issue: 31Published at Fri, 01 Aug 2025 -
Syria Poised For Gas Imports, Issues Crude Export Tender
...nounced a tender last week for the sale of 500,000 barrels of heavy crude oil, which would be its first such sale in more than a decade. Sanctions and domestic requirements during the 2011-2024 civil war put paid to Syrian exports. The tender puts the crude quality between 22-24 API, and 4.2% sulfur with bi...
Volume: 68Issue: 31Published at Fri, 01 Aug 2025 -
Libya Instability Back With A Vengeance With Half Output Shut In
...untry in fear for their lives. Mr Kabir had, at least until recently, been a well-respected and long-standing governor: almost uniquely among Libyan officials the veteran had been in the post for the whole of Libya’s post-revolutionary period, since 2011. When Mr Kabir’s position came under threat ea...
Volume: 67Issue: 35Published at Fri, 30 Aug 2024 -
Libya Expects Breakthrough Decision On Frozen Assets By End-2024
...hmoud Hassan expecting the sign-off by the end of 2024. The UNSC in October extended the mandate of the Panel of Experts – tasked with implementing Libya sanctions including the asset freeze since 2011 – until 15 February 2025, with the intent to provide the Council with a final report “no later th...
Volume: 67Issue: 32Published at Fri, 09 Aug 2024 -
Cyprus Rejects Chevron’s Modified Aphrodite Development Plan
...ither the 2019 FDP nor a previous iteration dating back to 2015 led to development of the field which was discovered back in 2011. Speaking exclusively to MEES, Mr Papanastasiou provided insight regarding the government’s decision to reject the modifications filed by Chevron in late May. “We had an...
Volume: 66Issue: 34Published at Fri, 25 Aug 2023 -
Egypt Drilling: Shell Kicks Off 9-Well Campaign As BP Readies Plans
...ell is setting its sights beyond Egypt for WDDM backfill options. Shell (35%) and partners Chevron (35%op) and Israel’s NewMed (30%) in May filed a development plan for Cyprus’ 2011 Aphrodite discovery which could see 650mn cfd production tied back to the WDDM offshore facilities (MEES, 2 June). Mi...
Volume: 66Issue: 33Published at Fri, 18 Aug 2023 -
Libya Exploration Looking Up As Eni & BP Lift Force Majeure
...menting the re-establishment of UK relations with the Gaddafi regime following a landmark visit by then PM Tony Blair to Tripoli (MEES, 4 June 2007). BP was slow to kick off exploration but was “hours away” from beginning a 17-well, $900mn commitment drilling program when the revolution began in February 2011...
Volume: 66Issue: 31Published at Fri, 04 Aug 2023 -
Opec Output: Saudi Floats Potential Deeper Voluntary Cuts
...tages, Libya, which is exempt from the cuts, has seen its output stabilize for a 12th straight month above 1.1mn b/d with drilling running at close to the highest level since the country’s 2011 revolution (see p5), IRAQ: HOsES BOOST EXPORT CAPACITY Iraqi production continues to rise as th...
Volume: 66Issue: 31Published at Fri, 04 Aug 2023 -
Anbar Power Plants To Build Case For Akkas Gas?
...kas power plant was built by the now defunct Indian EPC contractor Lanco Infratech for $81.26mn after being awarded the contract in 2011 by Iraq’s Ministry of Electricity. The sum excludes the cost of two GE 125MW gas fired turbines that make up the generation units. In 2014, the site fell to the Is...
Volume: 65Issue: 34Published at Fri, 26 Aug 2022 -
Eni Makes ‘Big But Not Massive’ Cyprus Gas Discovery
...prus’ fourth gas discovery to-date following 2011’s 4.1tcf Aphrodite find by US firm Noble (now Chevron), 2018’s Calypso and ExxonMobil’s 5-8tcf, 2019 Glaucus. As yet though, the country does not produce any gas although it is hoping that negotiations with Chevron (35%) and its Aphrodite partners, Sh...
Volume: 65Issue: 32Published at Fri, 12 Aug 2022 -
Sabic: Record Q2 Figures, But Outlook Crimped By Global Economic Headwinds
....93bn for Q2 with both of the key units – Petrochemicals & Specialities, and Agri-Nutrients – seeing record quarterly figures. Prorating 1H revenue of $28.97bn would give a figure of $58.4bn for 2022 as a whole, substantially above the record annual figure of $50.7bn set in 2011. Doing the same for 1H...
Volume: 65Issue: 32Published at Fri, 12 Aug 2022 -
Saudi Arabia Posts Strong Q2 Growth
...Saudi Arabia’s economy is booming, with GDP growing at its fastest pace since 2011. Inflation remains under control and foreign reserves are being rebuilt. Saudi Arabia’s economic rebound continues apace, with growth accelerating to 11.8% last quarter. Preliminary government figures for Q2...
Volume: 65Issue: 31Published at Fri, 05 Aug 2022 -
Libya Oil Revenues Soar But Still Short Of Central Bank Target
...VENUES* AT $11.6BN IN THE FIRST SEVEN MONTHS OF 2021 ARE ALREADY DOUBLE THE FULL YEAR 2020 FIGURE OF $5.9BN *CBL 'OIL REVENUE' NUMBERS USED BETWEEN 2011 AND 2017 DUE TO ABSENCE OF NOC DATA. ^INCLUDES GAS EXPORT REVENUE, PRODUCTS SALES. ^^INCLUDES SMALL VOLUMES OF CONDENSATE. SOURCE: OPEC ASB, CB...
Volume: 64Issue: 34Published at Fri, 27 Aug 2021 -
Libya’s Forex Reserves Fall 21% In 2020
...e inaccessible to Libya due to strict UN sanctions that have been in place since 2011.The idea is that sanctions will be removed once Libya has an accountable government. But the country is still deeply divided. Libyan actors are still squabbling over the legal basis for elections that are sc...
Volume: 64Issue: 34Published at Fri, 27 Aug 2021 -
Libya Eyes Mabruk Field Redevelopment
...ys it is also aiming to bring back Hakim, Sabah and Fedah. Zueitina had a production capacity of nearly 60,000 b/d before the 2011 revolution but this has dwindled to well under 20,000 b/d. Waha Oil Company is still working to restore production from its once-120,000 b/d Dahra field which was si...
Volume: 64Issue: 34Published at Fri, 27 Aug 2021 -
Eni In Libya: Bumper Oil Output As Exports Head Far & Wide, But Gas At 10-Year Lows
...PORTS TO ITALY HAVE BEEN RUNNING AT THEIR LOWEST CONSISTENT LEVELS SINCE THE REVOLUTIONARY YEAR OF 2011 (MN CFD) *TO 19 AUGUST. SOURCE: SNAM, ENI, MEES. GAS HIT BY POWER OUTAGE Mellitah’s offshore Bahr Essalam gas fields have produced almost continuously through the last 10...
Volume: 64Issue: 33Published at Fri, 20 Aug 2021 -
Spain Crude Imports: Saudi & Mideast Share At Record Low As Libya Volumes Soar
...*Spain’s crude imports remain depressed by Covid. Average 1H 2021 imports of 1.074mn b/d were level with 2H 2020 as the lowest half year figure since 2011. Imports have edged up in recent months with the Q2 2021 average of 1.083mn b/d the highest ‘post-Covid’ quarterly figure. But this is st...
Volume: 64Issue: 33Published at Fri, 20 Aug 2021 -
New Iran Cabinet Brings Back Shades Of Ahmadinejad
...ree branches of government: the presidency, parliament and judiciary. OWJI FOR OIL For the high-profile petroleum ministry, Mr Raisi nominated Javad Owji, who served under the former ultra-conservative petroleum minister Rostam Ghasemi as deputy minister from 2011 to 2013. His former boss had be...
Volume: 64Issue: 32Published at Fri, 13 Aug 2021