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BP Agrees Technical Terms For Redevelopment Of Iraq’s Kirkuk
...lks fell apart in 2020 following a three-year study initially commissioned in 2013, which was interrupted by the rise of the Islamic State in 2014. Since then, Baghdad has revamped its contract models, launching a ‘profit sharing’ Development and Production Contract (DPC) model intended to provide fi...
Volume: 67Issue: 51/52Published at Fri, 20 Dec 2024 -
Algeria-Turkey LNG Deal
...-year extension inked in 2014. With output from the country’s own Sarkaya field in the Black Sea ramping up and Russia offering Ankara cut-price supplies for want of alternate markets, Turkey is evidently reluctant to commit to a longer-term contract for potentially more expensive oil-price-linked Al...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
US Stocks At 37-Year Low But Repurchase Coming
...e start of the year. Whist the commercial stocks figure is little changed from 421mn barrels at the end of 2021 (though this was the lowest end-year figure since 2014), the SPR figure is down by a massive 215mn barrels (36%) on the start of the year for what would be the lowest end-year figure si...
Volume: 65Issue: 51/52Published at Fri, 23 Dec 2022 -
LNG Prices Show No Sign Of Easing
...*South Korea, the world’s number three LNG importer paid an average of $15.92/mn BTU for November-arrival cargoes, the highest since December 2014. Taiwan, the global number five, paid an all-time high $21.32/mn BTU. *This indicates that Taiwan’s imports contained a much higher pr...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Libya’s Mabruk Field To Restart In Early 2023
...Libya’s Mabruk Oil Operations says its eponymous field will restart production in the first quarter of 2023 at a rate of 25,000 b/d using Early Production Facilities. Mabruk has been shut in since 2014 when an Islamic State (IS) attack severely damaged its surface infrastructure (MEES, 6 Ma...
Volume: 64Issue: 49Published at Fri, 10 Dec 2021 -
Jordan Gas Boost
...d ‘well-49’ brought online last December (MEES, 29 December 2019). Results from three other exploration wells are expected soon – but given the relatively small size of the field, which BP abandoned in 2014 (MEES, 24 January 2014), the country’s growing renewables sector remains its best hope of ac...
Volume: 63Issue: 51Published at Fri, 18 Dec 2020 -
Korea Imports At 7-Yr Low
...pplier with 811,000 b/d for November. The kingdom has increased supplies to Korea by 6% year-on-year to 871,000 b/d for 11M 2020 for a market share of 32.8%. Not only is this well up on 2019’s 27.7%, but a bumper December could yet see Saudi top the annual record of 33.0% set in 2014. ...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Japan Imports: Still Rock Bottom
...utral Zone, the first such volumes since 2014. Kuwait volumes (excluding the PNZ) are down 9% at 233,000 b/d for 10M 2020 but may be set to rise next year with state firm KPC this week inking a deal to lease 3.14mn barrels of Japan storage capacity (see p17). JAPAN CRUDE IMPORTS REMAIN AT MULTI-DE...
Volume: 63Issue: 49Published at Fri, 04 Dec 2020 -
IOCs See Revenues Soar In 2018 But Keep Lid On Capex ($Bn, EIA Analysis)
...HIGHER OIL PRICES MEAN REVENUE* SOARED TO A 4-YEAR HIGH OF $144BN IN Q3… …BUT REMAINS WELL DOWN ON RECORD 2014 LEVELS CAPITAL SPENDING HAS BEEN SLOWER TO TAKE OFF. IOCS HAVE, FOR NOW, REMAINED PRUDENT WITH THEIR GROWING CASH WINDFALL *CASH FROM OPERATIONS. ^ES...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Egypt Boosts Power Supply…
...rullus plant to the grid. A key aim is to enable “reliable power supply to energy-intensive industries” near Alexandria, Siemens says singling out “cement, oil and gas and petrochemical facilities.” Blackouts, particularly during the summer peak demand, season plagued Egyptian industry during 2014...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Sipchem & Sahara To Merge
...mplete by 30 June 2019. Sipchem and Sahara signed an MoU for the merger in October, reviving a plan that was shelved in 2014 as plummeting crude prices slashed petchems revenues (MEES, 9 November). SAUDI PETCHEMS FIRMS BY MARKET CAP ($BN, END Q3): POST-MERGER SIPCHEM CLIMBS TO SIXTH PLACE...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018