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Oman: Tethys Flops In Block 58
...16 December. Output is in decline at Tethys’ only producing asset, Blocks 3&4 (CCED 50%op, Tethys 30%, Mitsui E&P 20%) where production has averaged 26,000 b/d so far this year, down 35% from its 2017 peak. The firm recently submitted a field development plan for Block 56, though volumes he...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
Harbour Expands With Wintershall Takeover
...ich in turn was formed in a 2017 merger (MEES, 1 December 2017). That deal left Wintershall Dea with substantial Russian assets, which, in a further complicating factor will be excluded from the Harbour transaction. As will one of Wintershall Dea’s key Mena assets, the ‘Wintershall’ fields in Li...
Volume: 66Issue: 51/52Published at Fri, 22 Dec 2023 -
India Crude Imports: Iraq Rebound As Russia Remains Dominant
...Latest official Indian crude import stats for October show volumes from Iraq rebounding to 1.06mn b/d, the highest since March, and the first over 1mn b/d since April. Iraq was India’s top supplier every year from 2017 to 2022 but Russia has surged ahead this year. India’s imports from Ru...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
Algeria-Turkey LNG Deal
...gerian LNG. Nevertheless, Turkey has taken in excess of its contractual term volumes of Algerian LNG every year since 2017, whilst Turkey has been Algeria’s top export market for each of the past six years. For 2023, Algeria-Turkey volumes are on track to challenge the annual record of 4.37mn to...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
Energean Eyes Full Control Of Key Israel Subsidiary
...London-listed Greek firm Energean is in talks to take full control of its Energean Israel subsidiary by buying-out 30% partner Kerogen Capital. Kerogen initially in February 2017 paid cash-strapped Energean $50mn for a 50% stake in its core Israel assets, before the Greek firm exercised an op...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
UAE Nuclear Power Plant Hits Full 1.4GW Capacity On Test
...pco connected Barakah-1 to the grid in August. Before the plant begins commercial operation, it will be shut down for a check outage “for several months.” The first Barakah reactor was originally slated for 2017 start-up, with the three similar units to follow at yearly intervals. But a scandal ov...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Saudi Fund Pledges SME Support
...F initially announced it would create Jada in 2017, saying that it would create 2,600 jobs and contribute SR400mn ($107mn) to GDP by the end of 2020 – twelve months from now. Boosting the role of the private sector is one of the central tenets of Crown Prince Muhammad’s Vision 2030. But this has pr...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Iran Hands Farzad B Field To Petropars
....7tcf Farzad B field. Indian firm ONGC Videsh had long been interested in developing the field (MEES, 6 January 2017), but the return of US sanctions last year halted negotiations. Petropars is also the sole firm tasked with developing the 2bn cfd South Pars Phase 11 project following the withdrawal of...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Jordan Starts Up Risha Solar
...cal private-sector firm Yellow Door Energy, with the capacity slated to be split between seven sites. Nepco says the Risha plant will deliver around 115GWh of electricity a year. When the power purchase agreement was signed in late 2017, Acwa said it had offered electricity at a cost of US¢5....
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Saudi Eyes Tankers For LNG Trading Boost
...s in talks with Qatar over importing from the emirate (MEES, 8 December 2017). ...
Volume: 62Issue: 13Published at Fri, 13 Dec 2019 -
UAE Cuts Aluminium Power Use
...ll capacity. Replacing old plants, whose efficiency could be as low as 33%, could hence save as much as 75mn cfd. Such savings are attractive for gas importers like the UAE: the emirates’ gas deficit for 2017 was 11.8bcm (1.14bn cfd). This was met with 1.58bn cfd of imports from Qatar through the Do...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Bahrain Set For Vat Roll Out
...ssibility for implementation, but won’t yet commit. Meanwhile, Kuwait says it won’t introduce VAT until 2021, while Qatar has been out in the cold since the Saudi-led embargo began in June 2017. Bahrain’s budget projects a $3.5bn deficit this year and needs all the additional revenue it can get. The IMF se...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
…Edison Reiterates Drilling Pledge
...ich Dea previously applied for development leases, whilst North Idku saw significant discoveries as far back as 1999 and 2002 (MEES, 29 April 2002). Edison’s 2017 report books reserves of 6mn boe (around 28bn ft³) for the two blocks, a figure that appears modest when compared to the discovery wells, on...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Oman: Oxy Inks Two New Blocks
...rget. Oxy has 100% of Block 51 whilst 65 will be operated via a joint venture with state Oman Oil Company. Both offered up in the 2017 bid round (MEES, 15 September), the blocks add to Oxy’s already sizeable Oman portfolio and give the firm a 350km contiguous stretch of assets across northern Oman which it...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Oman: Oxy Inks Two New Blocks
...rget. Oxy has 100% of Block 51 whilst 65 will be operated via a joint venture with state Oman Oil Company. Both offered up in the 2017 bid round (MEES, 15 September), the blocks add to Oxy’s already sizeable Oman portfolio and give the firm a 350km contiguous stretch of assets across northern Oman which it...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Yemen Peace Talks: Oil Focus
...fact Yemen is already exporting around 50,000 b/d: some 35-40,000 b/d from PetroMasila-operated Blocks 10 & 14 in the eastern Masila basin (MEES, 15 September 2017) and 10,000-12,000 b/d from OMV’s S2 Block in the central Shabwa basin (MEES, 3 August). The biggest potential restart would be $4....
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Lukoil Takes First Kirkuk Volumes
...port pipeline was new oil minister Thamir Ghadhban’s first major accomplishment as minister (MEES, 7 December) and helped add 100,000 b/d from Kirkuk where volumes had been shut-in since 2017. ...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Israel Electric Wants More Gas
...rch). Gas is rapidly edging out coal from the Israel energy mix. The gas share has soared to 80% gas versus 64.2% for 2017 (coal 32.3%, renewables 2.6%). IEC pays roughly $6/mn BTU for Tamar gas, and is trying to drum-up some competition to reduce the cost of electricity. It could find that di...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Jordan Bags $1bn Us AID…
...Jordan’s fiscal position is looking brighter with the finalization of a promised $1.08bn US aid package under a 4 December deal, up from 2017’s $812mn (MEES, 5 January). A $745mn grant – more than 1.5 times 2017’s grant of $475mn – will support the kingdom’s priority development projects li...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
…As Nepco Taps EBRD For $265mn
...er Libor. Nepco reported accumulated losses of $6.85bn for the year ending December 2017. The EBRD has lent Jordan more than $466mn since 2012 to fund 12 power sector projects. Jordan leads the Middle East in solar with 529MW and is second largest in wind with 285MW. Of this, 215MW was added in 20...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018