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Abu Dhabi’s Mubadala Cuts Energy Sector Exposure
...RMDOWN The other major transaction this week involved Mubadala’s fully owned upstream subsidiary, Mubadala Energy (formerly Mubadala Petroleum). Mubadala Energy was led by Mr Kaabi between 2014 and 2017, and he has since remained chairman of the firm. The firm boosted its net output to a record 500,000 bo...
Volume: 65Issue: 51/52Published at Fri, 23 Dec 2022 -
Delek & Mubadala Complete ‘Historic’ Tamar Deal
...nin and were found to be operating as monopoly by a late 2014 antitrust ruling (MEES, 2 January 2015). They remain the key partners at Leviathan with 45.34% and 39.66% respectively, whilst Chevron remains operator at Tamar with a 25% stake. “This step of the transfer of rights and the exit of De...
Volume: 64Issue: 49Published at Fri, 10 Dec 2021 -
TransGlobe Egypt Deal: The Key To Reversing Oil Decline?
...covery techniques to eke out maximum production from mature fields. Investment (and output) collapsed along with oil prices from late 2014, but 2018 and early 2019 had been seeing something of a rebound. The turbulence of the past year has unsurprisingly caused a renewed slump. Glance at company fi...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Chevron’s Emerging Mena Portfolio
...tions.” While Chevron’s presence in Mena does indeed go back decades, recent years haven’t been bountiful. In 2014 the firm looked to the Middle East to play a pivotal role in planned upstream expansion, with a $3.2bn exploration and appraisal plan focusing on Iraqi Kurdistan, Morocco and Australia (MEES, 18...
Volume: 63Issue: 49Published at Fri, 04 Dec 2020 -
Adnoc Adds To Gulf LNG Bunkering Plans With Inpex Tie-Up
...thorities have previously considered adding LNG bunkering to their capabilities (MEES, 4 July 2014). As a major established hub, it makes sense to add a new string to Fujairah’s bow with LNG bunkering rather than seek to create an alternative location. Fujairah currently receives gas from Qatar via the Do...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
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 -
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 -
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 -
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 -
Should I Stay Or Should I Go? Majors In The KRG
...at exploration is continuing, but progress has been minimal to date. However, the KRG lists Pirmam as “under appraisal” and it carried out drilling at the site in 2014. GAZPROM NEFT • Russia’s Gazprom Neft is the largest IOC to have a producing asset in the KRG. It took over from Ca...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
NOCs To Drive Gulf 2016 Output Gains Despite Further Belt Tightening
...aching its target of 980,000 b/d average liquids production in 2015: January-November output averaged 978,000 b/d. Output averaged 943,000 b/d for 2014. With state-led Petroleum Development Oman (PDO) announcing plans in April to reach a sustainable production plateau of 600,000 b/d by 2019, up from 2014...
Volume: 58Issue: 52Published at Wed, 23 Dec 2015 -
China, UAE Deepen Strategic Oil Partnership
...fectively been in control of the country since his brother President Khalifa bin Zayid suffered a stroke in January 2014. This highlights the likelihood that the underlying rationales are as much political as economic. The announcement is the second such large tie-in between Emirati and Chinese firms in...
Volume: 58Issue: 51Published at Fri, 18 Dec 2015 -
Oman Starts Qualification For Three New Desalination Plants
...line in 2017-19 and will take Oman’s desalination capacity under development to 970,000 m3/d. OPWP expects Oman’s peak water demand to rise from 934,000 m3/d in 2014 to 1.34mn m3/d in 2020. Oman’s current desalination capacity is 740,000 m3/d. OPWP has awarded Singapore’s Hyflux and local firm Mo...
Volume: 58Issue: 50Published at Fri, 11 Dec 2015 -
Shell Egypt Output At 15-Year High Ahead Of BG Takeover
...e Western Desert’s Northeast Abu al-Gharadig block located within Bapetco’s main license area (MEES, 19 December 2014). The gas price agreed with both firms is $5.45/mn BTU, but Shell is now believed to be asking for more. State firm EGAS pays a maximum of $5.88mn BTU for gas output but has so far on...
Volume: 58Issue: 49Published at Fri, 04 Dec 2015 -
Repsol To Boost Algeria, KRG Presence With Talisman Purchase
...0,000-290,000 barrels of oil equivalent per day (boe/d) production in 2014 sourced from its North American operations. The deal will see Repsol pay $8 per share in cash, an eye-watering 103% premium to Talisman’s 5 December share price, the day before press reports indicated that a deal was imminent. The de...
Volume: 57Issue: 51/52Published at Fri, 19 Dec 2014 -
Oman Looks To Total’s Offshore Expertise For Output Boost
...uld Total take a decision on whether or not to drill. Work on Phase 1 began in February 2014, after the government issued the award, MEES understands. Further Seismic The renewed push towards the sultanate’s offshore comes on the back of a discovery by Masirah Oil on Block 50 – the first of...
Volume: 57Issue: 50Published at Fri, 12 Dec 2014 -
Egypt Secures Funding For Further IOC Payments
...vember). Egypt first reduced a debt pile that had been growing steadily since the 2011 revolution with a $1.5bn tranche last December, and repaid a further $1.5bn in October. Throughout 2014, the government has also been able to promptly pay producers for current output, according to Petroleum Minister Sh...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Sipchem-Sahara Merger MoU
...d continued negotiations with a view to signing a merger agreement in the first half of 2014. According to a joint statement “the proposed merger is expected to enhance the [combined] company’s leading position in the local and international petrochemical industry. The combined business is ex...
Volume: 56Issue: 50Published at Fri, 13 Dec 2013 -
KRG Investors Plough On Despite Rising Tensions
...[the Chevron-operated giant] Tengiz.” The KRG is pinning its hopes on opening up an independent export route, which will need support from Turkey. There are two potential pipeline projects that could impact developments by early 2014. Firstly Anglo-Turkish Genel Energy is planning an in...
Volume: 55Issue: 52Published at Fri, 21 Dec 2012 -
SABIC Strategy Tracks Demographic Trends
...heduled to be completed in the fourth quarter of 2014. It will produce a variety of ABS grades for the automotive and electrical appliance industries (MEES, 18 June). Outside the kingdom, SABIC is focusing on joint projects in China. A joint venture between SABIC and Chinese state firm Si...
Volume: 55Issue: 51Published at Fri, 14 Dec 2012