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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 -
Kuwait Announces KHAFJI Gas Pipeline Completion
...afji Joint Operations (KJO). Additional gas volumes are key for Kuwait, which is increasingly turning to LNG imports to offset domestic shortages. The completion of the 100km pipeline is also notable as it will help reduce Khafji flaring. When Saudi Arabia shut down operations at Khafji in 2014 am...
Volume: 64Issue: 32Published at Fri, 13 Aug 2021 -
Algeria: Key Oil Fields At 20-Year Low
...eld operated by Spain’s Cepsa. From a peak of 470,000 b/d in 2007 and 384,000 b/d for 2014, the first full year of El Merk output, production has been in near continuous decline since, falling to just 220,000 b/d for 2020 and 175,000 b/d for the first half of 2021, according to MEES number-crunching ba...
Volume: 64Issue: 31Published at Fri, 06 Aug 2021 -
Qatar Export Revenues Soar To Highest Level Since 2018
...bn+/quarter days of 2014 when oil prices were around $100/B. While those prices remain a long way off, Qatar is investing heavily in a bid to boost export revenues substantially. Qatar earlier this year took FID on the four-train $28.75bn North Field East (NFE) expansion project which is slated to in...
Volume: 64Issue: 31Published at Fri, 06 Aug 2021 -
Saudi Arabia, Kuwait Discuss Neutral Zone Ramp Up
...proximately half the level from before its 2014-shut down. PNZ production also comes from the onshore Wafra Joint Operations (WJO), where Chevron represents Saudi Arabia alongside KGOC. Chevron’s net output in both quarters this year was 57,000 b/d, implying gross output of 114,000 b/d. This puts to...
Volume: 64Issue: 31Published at Fri, 06 Aug 2021