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GCC Rallies Round Kuwait Following Iraq’s New Boundary Claim
...atures that lie within its waters and are exposed at low tide but submerged at high tide, while Iraq says that use of the shoals as baseline points is contrary to the UN Convention on the Law of the Sea (UNCLOS). Kuwait uses these shoals as baseline points under a 2014 Emiri decree that Baghdad re...
Volume: 69Issue: 09Published at Fri, 27 Feb 2026 -
Oman Lays Out Plan For 30% Renewables By 2030
...an is driven primarily by the residential and economic sectors. Residential demand is simply a function of a growing population and urbanization requiring more electricity. Government data show residential consumption rose by 67% from 2014 to 42.2TWh in 2024. Like the rest of the Gulf, the majority of...
Volume: 69Issue: 09Published at Fri, 27 Feb 2026 -
Iraq Starts Work On Rehabilitating Turkey Export Pipeline
...Iraq’s State Company for Oil Projects (SCOP) said on 12 February that it had begun rehabilitating the federal portion of the Iraq-Turkey Pipeline (ITP). The old 1.6mn b/d pipeline suffered extensive damage in 2014 when the Islamic State took over large areas of northern Iraq. It extends from Sa...
Volume: 69Issue: 08Published at Fri, 20 Feb 2026 -
Syria’s SPC Courts IOCs As Re-engagement Accelerates
...ogress was made (MEES, 3 January 2014). A more recent agreement, signed in 2022 was with Kapital LLC, believed to be ultimately owned by former Wagner Group leader Yevgeny Prigozhin. Mr Qablawi told MEES that Chevron would fund new seismic surveys – an investment likely to be required of all IOCs en...
Volume: 69Issue: 07Published at Fri, 13 Feb 2026 -
Shell Plans To Double Egypt Output By 2030
...om 50-70ms and was drilled a total of three times by BP between 1999 and 2014. The field could hold up to 1.4tcf, but BP still walked away in 2019 (MEES, 5 April 2019). Its proximity to Shell’s now depleted Rosetta field should provide a relatively cost-effective tie-back option for development. Th...
Volume: 69Issue: 06Published at Fri, 06 Feb 2026 -
Chevron’s Neutral Zone Operations Return To Growth
...uck around in the PNZ despite a rocky recent history there. Kuwait was unhappy that it wasn’t consulted when Saudi Arabia renewed the operating agreement with SAC for 30 years in 2009. Grievances over management of the PNZ came to a head in 2014/15 when the offshore and onshore portions were shut-in, on...
Volume: 69Issue: 06Published at Fri, 06 Feb 2026 -
QatarEnergy Crowns LNG Conference With Two Major Supply Deals
...silient energy future for the nation.” The deal was notable given that Japanese imports of Qatari LNG have been on a steep downwards trajectory over the past decade, dropping from a record 16.14mn tons in 2014 to just 3.42mn tons last year (itself an improvement on 2024 levels) as long term sales co...
Volume: 69Issue: 06Published at Fri, 06 Feb 2026 -
Chevron Eyes Long Term Gains From Saudi-Kuwait Neutral Zone
...rm opportunities that are captured and can become very attractive.” NEUTRAL ZONE REBOUND Production in the PNZ was fully shut-in from May 2015 until February 2020, with the offshore Khafji field taken offline in October 2014 followed by the onshore Wafra field in May 2015. On th...
Volume: 68Issue: 08Published at Fri, 21 Feb 2025 -
Baghdad Scrambles To Keep US Sanctions Waivers On Iran Electricity Imports
...mains questionable given substantial damage to the region’s infrastructure when under ISIS control in 2014-16 . Mr Sudani also highlights Iraq’s plans to import electricity via the GCC’s common interconnector and Jordan this summer. Having missed its earlier end-2024 target, the GCC Interconnection Au...
Volume: 68Issue: 07Published at Fri, 14 Feb 2025 -
Algeria Gas Exports Lowest Since 2020; Is Key Field Still Out?
...ar earlier at 7.99bcm (9.41bn cfd), average output of 10.3bn cfd (88.9bcm) for 11M 2014 was down 7% year-on-year. Whilst granular output data for the key fields of state giant Sonatrach are treated as a national secret, many are aging and have seen repeated spending on compression and EOR pr...
Volume: 68Issue: 06Published at Fri, 07 Feb 2025 -
Oman Launches 2025 Bid Round With Three Onshore Blocks
...set in 2012 and 2014 but failed to sign anyone up (MEES, 8 August 2014). One previous exploration well “failed to reach the target” according to the ministry, but “active hydrocarbon seepage found in the block” supports the likelihood of a “working petroleum system.” The ministry also claims it is su...
Volume: 68Issue: 06Published at Fri, 07 Feb 2025 -
Egypt Upstream Output Set To Fall Further In 2024 As Zohr Slump Continues
...ames the underperformance on an inability to secure sufficient workover rigs. This saw activity fall behind the firm’s plans, with output further hit by “early-life ESP failures in new high-rate wells.” Apache’s rig count averaged 17 last year, the highest since 2014. Apache is guiding for 13-15 rigs th...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
MEES Interview: Iraq’s Deputy Oil Minister For Refining Affairs Hamid Younes
...eir secondary units – with a total nameplate crude processing capacity of 290,000 b/d. The Shamal (North) refinery was the largest at 150,000 b/d, but like the 70,000 b/d capacity Baiji-1 and similarly sized Baiji-2 was destroyed by the Islamic State terrorist group in 2014 (MEES, 26 September 2014...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
US Output Leaps 1.5mn B/D For 2023, Topping 20mn B/D For The First Time In Q4. Is Peak Output Near?
....93mn b/d and NGLs up 530,000 b/d at 6.43mn b/d, also a record (see chart 1 & p19 for full data). Last year’s gains were the fourth highest ever behind 2.2mn b/d for 2018, 1.8mn b/d for 2019 and 2014’s 1.7mn b/d. Of course, ‘boom’ in those previous cycles rapidly turned to bust as oil prices collapsed: ou...
Volume: 67Issue: 06Published at Fri, 09 Feb 2024 -
Qatar Trade Revenues Fall From 2022 High
...Qatar’s exceptional 2022 revenues from record oil and gas prices subsided in 2023 but its $66bn trade surplus was still the second highest since 2014. With a clear path to further hike earnings, Doha has snagged a credit rating upgrade. Like most hydrocarbon producers Qatar made ex...
Volume: 67Issue: 05Published at Fri, 02 Feb 2024 -
QatarEnergy To Take Over LNG Marketing Role
...naging Director (subsequently CEO) in 2014 (MEES, 19 September 2014). Mr Kaabi’s tenure has been characterized by three primary tenets – aggressive expansion, streamlining of operations and squeezing IOC partners. This latest initiative arguably facilitates all three and underlines the extent to wh...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Saudi Efforts To Cut Oil Burn Take Backwards Step In 2022
...atistics (see p19 for full data) show a counter-seasonal increase in oil burn (crude and fuel oil) to 1.083mn b/d in December. This marked the second consecutive monthly rise, with December’s burn the highest on record for the month (see chart 2). The previous December record of 1.021mn b/d was set in 2014...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Chevron Eying Egypt Tie-In For Cyprus’ Aphrodite
...4bn last year – from selling LNG as gas prices have soared. Shell, which has in the past had its own beef when Cairo reneged on letting it and precursor BG directly export WDDM gas (MEES, 7 February 2014), is not prioritizing Aphrodite development and has left negotiations to Chevron and Cairo, ME...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Qatar’s 2022 Asian LNG Sales: Focus On Key New Term Market China Limits Revenue Gains From Record Spot Prices
...22 this remains well down on the record $44.0bn sales to the same five buyers back in 2014 (see chart 3). Back then Japan was the key buyer and paid an average of almost $18/mn BTU for its 16.1mn tons of Qatari LNG. 1: QATAR’S TOP ASIAN* LNG CUSTOMERS (MN TONS): CHINA SURGED AHEAD FOR 2022 WI...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023 -
Baghdad - Erbil Oil Law Deal Stuck In Limbo
...Maliki’s priority appears to be holding the SCF together given the ever-present threat of Mr Sadr. “Maliki cannot risk a Sadr comeback. The Kurds have been financially struggling since 2014 and [to Mr Maliki] it is not the end of the world if they struggle for another year” muses the KRG so...
Volume: 66Issue: 07Published at Fri, 17 Feb 2023