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UAE’s Wait To Tap Into Expanded Capacity Goes On
...r its flagship Murban crude export grade. The last time that Murban averaged more than that was 2014’s $99.45/B, when production of 2.78mn b/d was 270,000 b/d less than last year’s figure. With Murban prices set to drop to around $83/B this year, a sharp fall in revenue is inevitable for 2023. ME...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Iran-Aligned Militia Attacks Complicate Delicate Iraqi-US Relations
...w system to importers and banks as opposed to black market dollars. Mr Sudani’s decision in January to reinstate Ali al-‘Alak as CBI Governor proved useful, given his long working relationship with his US peers between 2014 and 2020. But the recovery remains erratic and suboptimal, with li...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Libya’s Legal Battle To Recover Billions In Overseas Assets
...bya (MEES, 13 October). Since 2014, the country has had two administrations, each with its own legislative and executive bodies. One is the internationally recognized Government of National Unity (GNU), based in the western capital of Tripoli and led by Prime Minister Abdelhamid Dbeibeh (MEES, 12 Ma...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Kuwait’s Cabinet Looks Ahead To A Troublesome 2024
...ght consecutive budget deficits between 2014/15 and 2021/22 (see chart), but since September 2017 the government has been unable to raise debt to finance these deficits as parliament has repeatedly blocked the passage of a debt law to allow state borrowing. In September, Fitch affirmed Kuwait’s ‘AA-’ ra...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Iran Plans Major Gas Storage Expansion To Face Winter Shortages
...orasan Razavi. The latter province borders Turkmenistan and Afghanistan (see map). Fully commissioned in 2014, the two facilities receive gas via pipeline from processing plants in summer, when demand is relatively low, injecting volumes into their reservoirs. Gas is then withdrawn in winter and sent vi...
Volume: 66Issue: 49Published at Fri, 08 Dec 2023 -
Jordan Looks To Climb On The Green Hydrogen Bandwagon
...ovided 27% of Jordan’s 2022 power, up from just 1% in 2014. But the ambitious plans face many challenges, including a severe water shortage. A 2019 Jordanian-German Energy Partnership said that despite Jordan’s “promising” potential for green hydrogen, including a “mature chemical industry” and ex...
Volume: 66Issue: 49Published at Fri, 08 Dec 2023 -
Libya Exploration Picks Up Steam As NOC Reiterates Ambitions
...13). Only two wells, of what had originally been planned as an 11-well campaign, were ultimately drilled. But though both saw “gas discoveries … in Devonian horizons,” the firm pulled out its staff and wrote off its entire to-date Libya exploration spend of $137mn as security deteriorated in early 2014...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
Yemen’s Breakthrough Truce Threatened By Houthi Military Attacks
...mbined cycle power plant. Yemen’s oil and gas sector had been declining since long before the onset of civil war. Production peaked in 2002 at 457,000 b/d with exports remaining above 100,000 b/d until 2014 (MEES, 15 September 2017). However, since the start of the conflict and the Saudi-led in...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
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