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KRG: IOCs Nervously Eye Calendar As Payment Wait Drags On
...16 2015 2014 Tawke 110.0 +2.7 107.3 135.2 91...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Saudi Powers Ahead With Reform Plans
...oks set to hit many Saudi households hard in the pocket and could be sufficient to make many think more carefully about electricity use. According to UK consultant Enerdata, Saudi household electricity consumption averaged 24,030kWh (2,002kWh/month) in 2014. This is roughly double US consumption, wh...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Qatar Petroleum Targets Transformation, Embargo Or No Embargo
...rth Dome gas field (MEES, 7 April) – Mr Kaabi’s moniker was earned for his role in the moratorium on development of the field enacted in 2005 (MEES, 19 September 2014). He then in July, less than a month into the embargo, unveiled a plan to double the size of the planned expansion, boosting Qa...
Volume: 60Issue: 49Published at Fri, 08 Dec 2017 -
Qatar Revives Plan For New Petchems Capacity
...The revelation by QP chief executive Saad Sherida al-Kaabi of plans for a new “world scale” petrochemicals project in Qatar (see p14) represents an about-turn after the company ditched plans for a major polyolefins project in 3Q 2014 and a large ethylene glycol project in early 2015. Mr Ka...
Volume: 60Issue: 49Published at Fri, 08 Dec 2017 -
Israel Gas: Will Relaxing Regulations Spur Development?
...sues are hardly a new thing for Israel’s gas industry. The writing has been on the wall since 2014 when Australian LNG experts Woodside pulled out of a $2bn deal to take a 25% stake in Leviathan citing regulatory uncertainty (MEES, 23 May 2014). Israel’s offshore was subsequently closed for bu...
Volume: 60Issue: 49Published at Fri, 08 Dec 2017 -
Energean: Karish, Tanin Go-Ahead Imminent
...th an IPO also under consideration, according to a 13 November Reuters article. US firm Noble operates Israel’s only producing gas field, Tamar, as well as the under-development Leviathan field. Noble and partner Delek were forced to sell off Karish and Tanin as part of a 2014 anti-trust ru...
Volume: 60Issue: 49Published at Fri, 08 Dec 2017 -
Iraq Adds Upgrades To Gas-Fired Plans, Keeping Pressure On Rising Supplies
...ard further upgrading projects, given that only 16.91GW of existing capacity is operable out of an installed capacity of 26.15GW. Yet despite the strain on Iraq’s gas resources, gas turbine plants are expected to provide up to 56% of Iraq’s electricity this year, up from 47% in 2014 (see tables). On...
Volume: 60Issue: 49Published at Fri, 08 Dec 2017 -
Building On Resilience: QP Chief Talks Embargo & LNG Plans With MEES
...troleum’s operations. How have you mitigated the impact? A: When I was appointed as CEO three and a half years ago [MEES, 19 September 2014], I had a different vision for QP. We had to focus on our core businesses, and so I made sure that we consolidated our subsidiaries to become fully aligned. As you sa...
Volume: 60Issue: 49Published at Fri, 08 Dec 2017 -
Tunisia Oil Output Rebound From Protests, Fundamental Problems Remain
...hers decline to take any decisions on permits and the like for fear of being branded corrupt (MEES, 31 October). But, in an echo of the situation facing smaller firms in Egypt (MEES, 1 December), the bigger fall came with the collapse in oil prices in the second half of 2014. Many of the minnows in Tu...
Volume: 60Issue: 49Published at Fri, 08 Dec 2017 -
Iraq: Contract Revamp To Be Revealed This Month
...the Opec meeting in Vienna this week. Iraq has been looking to move away from its rigid techinal service contracts (TSCs) since oil prices crashed in late 2014. Under these, per-barrel remuneration to IOCs stays fixed irrespective of price, placing a high burden on the government in a low oil pr...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Egypt: Gulf Of Suez Oil Output At 40-Year Low On Back Of Lower Prices, Capex
...sues related to defective pumps.) Fellow Canadian firm SDX Energy (formerly known as Sea Dragon) has meanwhile cut capex from $18.0mn in 2014 (when it only had Egyptian assets) to just $5.7mn for the first nine months of this year – and the latter includes Morocco where it acquired the assets of ba...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Payment Problems
...early 2012 and remained at $6.3bn as recently as September 2014. Though EGPC made substantial inroads after this, by then collapsing oil prices had come in as a sucker punch. Though payment delays also affected larger firms such as Eni, BP and Shell, smaller Egyptian-focused firms were much le...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Aramco & Sabic Think Big With $20bn Oil-To-Chemicals Plans
...an Exxon’s 1mn t/y crude-to-olefins unit at its 592,000 b/d Singapore refinery. Started in 2014, this uses a proprietary design which “can crack anything from light gases to heavy liquids, including crude oil,” the firm says. Aramco and Sabic are eyeing the Red Sea Port of Yanbu as a site, al...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Libya’s Waha Ramps Up Output To 260,000 b/d But Challenges Lie Ahead
...6,000 b/d of crude. At the time this was the highest level since late 2014, when it was sustained only briefly. Marathon (16.33%) is one of three US firms in the WOC venture alongside ConocoPhillips (16.33%) and Hess (8.16%). State-owned National Oil Corporation (NOC) has the largest share in the company (59...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
North Africa Focus For German $15bn Upstream Tie-Up
...mes from the 110mn cfd Disouq field in the Nile Delta (DEA 100%). Output here was supposed to reach 200mn cfd but lack of investment has meant the German firm has been unable to arrest the field’s decline from 2014’s peak of 140mn cfd. The next regional addition for either company will likely come fr...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
US Exports & Global Trade – MEES Special Report
...king itself felt in data for NGLs – exports of which had been tolerated from late 2014 as long as cargoes were lightly processed (MEES, 17 October, 2014). NGLs exports are also on target for a record 2016, having averaged 1.2mn b/d in the first nine months. CRUDE: EXPONENTIAL GROWTH… While US cr...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Qatar Gets Flexible In Bid To Adapt To Brave New LNG World
...uto 2012 4.3 Woodside Curtis Island - T1 2014 4.3 BG/CN...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
The Iraqi State Faces A Perilous 2017
...e councils and modified the seat allocation formula to disadvantage small parties - as was done in the 2014 parliamentary law. Parliament’s Legal Committee has said that a special law is needed for Kirkuk to hold new elections; its current council was elected in January 2005. If the provincial el...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
BP Back in Business With Abu Dhabi Deal
...1,000 b/d. Both Japan and South Korea have a presence at Adco, while Chinese firms have more overseas experience than those from numbers two and three – Thailand and India. BP FINANCES RENEWED SPENDING SPREE When Total signed up to the renewed Adco concession, which expired in 2014, it paid a $2....
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Qatar Slashes 2017 Budget Deficit But Maintains Spending At High Levels
....5bn) from QR203bn in 2016, with revenue up 14.5% to QR170bn ($46.7bn) from QR143bn ($39.3bn). Minister of Finance Ali al-EImadi emphasized the importance of maximizing efficiency in current spending, as oil, and crucially LNG, prices are set to remain well below 2014 levels next year. But Qatar re...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016