- Sort by:
- Score
- Published ▼
-
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 -
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 -
Oman Taps Abu Dhabi For Wind Farm Cash
...wever, its earlier estimate that the development work would take 24 months suggests that start-up is unlikely before the second half of 2019 (MEES, 17 October 2014). Masdar’s partners in building the wind farm will be US conglomerate General Electric (GE) and Spanish engineering contractor TSK. GE wi...
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
Dana Gas: Profits Up, Litigation Up, Zora Write-Down Looms
...o levels. Dana added $100mn to its debt pile to fund development of Zora (MEES, 12 September 2014); at start-up less than 18 months ago it said output would ramp up to 40mn cfd (MEES, 3 March 2016). Output is set to dwindle further. The firm has looked into the economics of a well intervention pr...
Volume: 60Issue: 33Published at Fri, 18 Aug 2017 -
TransGlobe: Exploration Write-Dow, Cargo Delay
...ed foreign firms $2.3bn at end-June, down from $3.4bn at end-2016 and a 2014 peak of over $6bn. As with Dana Gas, TransGlobe says gaining the direct ability to market its output in 2015 has been key to getting receivables down. And on the surface this has been a remarkable success. From a peak of...
Volume: 60Issue: 33Published at Fri, 18 Aug 2017 -
Gulf NOCs Target IPOs, Other Routes To Foreign Funding
...n Salman (MbS) has estimated Aramco’s value at $2-3 trillion, implying that a 5% listing could raise $100-150bn, dwarfing the $25bn secured by Chinese internet retailer Alibaba in the world’s largest IPO in 2014 (MEES, 11 November 2016). And it would appear that Aramco’s bold IPO plans have en...
Volume: 60Issue: 31Published at Fri, 04 Aug 2017 -
Libya: Zueitina Crude Shipment Threatens To Be False Dawn
...ntain about 3,080,000 barrels of crude oil and 180,000 barrels of condensate,” added NOC. The Zueitina terminal, which has an export capacity of 250,000 b/d, was shut down in April 2014 and has operated for only brief periods since (most recently in October 2015 MEES, 6 November 2015). It has been cl...
Volume: 59Issue: 34Published at Fri, 26 Aug 2016 -
Slimmed Down Oxy Emerges Following Divestments
...a proportion of overall Oxy production over the last 18 months and averaged 60% in Q2, down from 65.8% a year ago. Gas has seen its share rise from 24% to 27.4% over the same period, its highest share since Q1 2014. However, Oxy’s divestment of its Bahrain asset, the Awali field, last month will re...
Volume: 59Issue: 32Published at Fri, 12 Aug 2016 -
DNO Estimates KRG Receivables At $1bn
...ys. The company ended the first half of the year with a positive cash balance, largely as a result of equity financing and a $400mn bond issue in June this year. But it also chalked up a net loss of $114.1mn in the year to date. It reported a net loss of $226.1mn in 2014. DNO has not booked re...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
DNO Planning Output Boost Offshore Oman
...e/d) in 2Q 2015, down from 15,678 boe/d in 2014. Onshore Oman, DNO is identifying targets for an exploration well in 2016 after withdrawing from Blocks 30 and 31. In Tunisia, DNO next year plans to drill a fourth well on the offshore Sfax exploration permit. The first well on the block hit 1,...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
Cash-Strapped Samir Shuts Morocco’s Refinery Temporarily
...at rate. JODI data show the plant’s throughput varies widely on a month-to-month basis (see chart). Refinery runs peaked at 167,000 b/d in March 2014, before setting a recent low of 58,000 b/d in January 2015. The latest monthly average available was 107,000 b/d for May 2015. Morocco is he...
Volume: 58Issue: 33Published at Fri, 14 Aug 2015 -
Exit The Dragon As Enoc Takes Charge
...wever, Dragon’s production costs in Turkmenistan are relatively low and its balance sheet remains healthy despite a 52% slump in operating profit. Dragon maintained its capital expenditure at $313.2mn in the first half of this year, unchanged from the corresponding period in 2014, ending the first half of...
Volume: 58Issue: 33Published at Fri, 14 Aug 2015 -
Shell And BP Step Back From ADCO
...tal’s Chief Financial Officer, Patrick de la Chevardière, said during his company’s earnings call. ExxonMobil dropped out of the race and did not submit a bid by an October 2014 deadline. BP too now appears to have put its aspirations on hold. BP CEO Bob Dudley said during the company’s second qu...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Sadara To Supply Juffali Plant With MDI
...due to start up this year and be fully operational in 2016 (MEES, 21 March 2014). While the Plaschem park will take some of Sadara’s products, most of its revenues will come from exports. Sadara expects that 60% of output will be sold in Asia, with the Middle East and Africa accounting for 15...
Volume: 58Issue: 32Published at Fri, 07 Aug 2015 -
Dragon Oil’s 1H14 Output Falters As Ambitions Soar
...fshore Cheleken contract in Turkmenistan, in which it holds a 100% stake, stood at 73,440 b/d for the six months to 30 June 2014, slightly down on the corresponding period last year (see table). June production rose to 76,100 b/d, but these numbers may be slightly misleading: in June 2013 for ex...
Volume: 57Issue: 34Published at Fri, 22 Aug 2014 -
Oman Oil Names Former Oxy Executive As New CEO
...ins OOC with more than two decades of experience in the oil and gas sector, having previously worked for US independent Occidental (Oxy) and Oman’s Ministry of Oil and Gas. He served as President and General Manager of Oxy Oman between 2009 and 2014, before being promoted to Senior Vice President for Bu...
Volume: 57Issue: 34Published at Fri, 22 Aug 2014 -
SEC Head Resigns, Replacement To Come From Aramco
...ecutive of the state utility in October 2006, will step down from his post officially on 1 January 2014. SEC has already lined up his successor – Ziad bin Muhammad al-Shiha, currently Executive Director for Power Systems at state oil firm Saudi Aramco. Mr Barrak instigated a major expansion of ge...
Volume: 56Issue: 34Published at Fri, 23 Aug 2013 -
Occidental: Uncertainty Continues Over Middle East Assets
...s really just been exposed to this in detail at one meeting, and so it will take a little while and we want to consult fully with them and weigh all the alternatives for them. But clearly some things are going ahead quickly.” He added he hopes to achieve this before he steps down as CEO in 2014...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013 -
Germany’s RWE Faces Challenging Sale Of North African Assets
...oject – slated for 2014 start-up when sanctioned in 2010 – the key focus for 2012 was taken up with trying to find a new location for the onshore gas treatment plant. It now looks likely that the plant will be located 30km to the east from the originally-planned site at Idku [next to the BG-operated Eg...
Volume: 56Issue: 31Published at Fri, 02 Aug 2013