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GCC Eyes 2022 As Year Of Stability
...is year saw Saudi Arabia host two GCC summits. The 41st summit was held in Al Ula in January and marked the end of the Qatar embargo, which had been in force since June 2017 and had defined the GCC ever since (MEES, 8 January). If that January summit was high profile, the 42nd iteration in Riyadh on...
Volume: 64Issue: 51/52Published at Fri, 24 Dec 2021 -
Algeria Plans ‘Year For The Economy’ In 2022
...creasingly difficult due to the Algerian market’s “modest absorption capacity.” Although the government has vowed not to resort to quantitative easing from the central bank – as it controversially did between 2017 and 2019 (MEES, 28 June 2019) – it continues to engage in what it calls “monetary fi...
Volume: 64Issue: 51/52Published at Fri, 24 Dec 2021 -
KRG Repayment Obligations Offset Oil Revenue Gains
...ghest since the Deloitte audits began in 2017, and was more than the KRG’s net receipts. With IOCs in Kurdistan having already reported increased Q3 revenues, payments will have risen to more than $1bn last quarter. PIPELINE PAYMENTS MOUNT Following a 2017 transaction, the KRG’s 95...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Qatarenergy Egypt Entry Could Be Prelude To Further Energy Partnerships
...verage our joint expertise,” Shell Egypt country manager Khaled Kacem says. GEOPOLITICAL SHIFT QE’s upstream entry is of geopolitical significance in that Egypt under President Sisi was an enthusiastic backer of the Saudi and UAE-led embargo of Qatar from mid-2017 (MEES, 9 June 2017...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Energean’s Karish Sales In Doubt As Israel Gas-To-Power Market Hots Up
...y customers for its 7.2bcm/y (700mn cfd) Karish development offshore Israel. Of 7.1bcm/y (684mn cfd) in gas sales contracts, more than half is under threat. Energean’s three largest customers are all looking to back out of their gas purchases on contracts signed with Energean in 2017, citing de...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Jordan Plans Nine-Well Drilling Campaign
...50mn cfd. He says that around 20mn cfd of current output goes to the 150MW Risha power plant (MEES, 24 March 2017) and approximately 10mn cfd to local industrial users – figures that imply a doubling of production from the 2020 average. Another area with potential is the Sirhan Development bl...
Volume: 64Issue: 49Published at Fri, 10 Dec 2021 -
Vienna Talks: Iran Holds Its Ground
...y 2017). But despite the major economic pressure the country is under (MEES, 25 June), Tehran is showing little in the way of urgency for an agreement to be reached. The negotiations last week ended in a deadlock after Tehran’s 40-strong team led by chief negotiator Ali Bagheri Kani submitted tw...
Volume: 64Issue: 49Published at Fri, 10 Dec 2021 -
Saudi Government Approves Power Sector Shakeup
...14.9bn ($3.97bn) over the first nine months of 2021 versus a loss of $296mn for the same period of 2020. PRINCIPLE BUYER The SPPC was named as the ‘principal buyer’ of electricity from independent power producer (IPP) projects by the government in 2017. It describes its key responsibilities as...
Volume: 64Issue: 49Published at Fri, 10 Dec 2021 -
Aramco’s Moonshot: Jafurah Development To Power Major Gas Drive
...oduction began in 2017 and Aramco puts current North Arabia gas processing capacity at 400mn cfd (MEES, 30 March 2020). Now, clear progress is being made on the two larger developments in Eastern Province – South Ghawar and the Jafurah Basin. At South Ghawar, Aramco reaffirmed this week that first ph...
Volume: 64Issue: 48Published at Fri, 03 Dec 2021 -
Iran Unveils 10 Year Upstream Investment Plan
...Azerbaijan. Until 2019 Iran used to regularly import gas from Turkmenistan to supply northern areas. Volumes peaked in 2017 at around 9.3bcm, before steadily dropping as South Pars output ramped up and Iran struggled to make payments (MEES, 13 January 2017). Mr Owji now says that “debt settlement wi...
Volume: 64Issue: 48Published at Fri, 03 Dec 2021 -
Iraq’s 2030 ‘Sustainable Transition’ Plan: Gas & Renewables To The Fore
...newables by 2030, and 2.3bn cfd of additional gas processing capacity by 2026. The ministry of oil has an even more ambitious gas plan to add 2.49bn cfd of gas processing capacity by 2027 and to achieve zero flaring by 2030 as per a 2017 pledge made to the World Bank. Details of these plans were ou...
Volume: 64Issue: 48Published at Fri, 03 Dec 2021