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Dana Gas Snags Improved Egypt Fiscal Terms
...22, some 40% down on peak output of 42,500 boe/d hit in 2011 (see chart). With falling Egypt output, Dana’s key area of production is now Iraqi Kurdistan (see p13). Dana says the slump would have been more severe in line with what it says are typical 20% Nile Delta decline rates had it not been fo...
Volume: 66Issue: 06Published at Fri, 10 Feb 2023 -
Libya’s Waha At 3-Year High
...cember for the highest figure since last March. LIBYA'S WAHA OIL CONCESSION PRODUCED 323,000 B/D FOR Q4, THE JOINT-HIGHEST FIGURE SINCE THE 2011 REVOLUTION SOURCE: CONOCOPHILLIPS, HESS, MEES CALCULATIONS....
Volume: 66Issue: 06Published at Fri, 10 Feb 2023 -
Lebanon Gas: Key Officials Fly In, Highlighting Project’s Geopolitical Significance
...pply the domestic market. At approximately 70km offshore in 1,700ms water depth, the minimum reserves size needed to justify Qana development would surely be much lower than for Cyprus, where the 4.5tcf Aphrodite find (160km offshore, 1,700 meters depth) has remained undeveloped since its 2011 di...
Volume: 66Issue: 05Published at Fri, 03 Feb 2023 -
Saudi GDP Growth: 11-Yr High
...Saudi Arabia released its preliminary Q4 GDP figures this week, confirming that in 2022 the economy grew at its fastest annual rate since 2011. Despite growth slowing down to “just” 5.4% in Q4, full year GDP growth of 8.7% was by far the highest figure since 2011’s 10%. The gains were driven by...
Volume: 66Issue: 05Published at Fri, 03 Feb 2023 -
Thailand Imports Record LNG For 2022 Despite Higher Prices
...U, twice 2021 levels. *Qatar has been Thailand’s top supplier every single year since imports began in 2011. But, with Qatar volumes relatively steady, its market share has fallen from over 90% in 2016 to 28.5% for 2022 (see chart). Oman, from where Thailand imported a record 640,000 tons in...
Volume: 66Issue: 05Published at Fri, 03 Feb 2023 -
Libya Starts New Field
...untry’s volatile operating environment since the 2011 revolution has stifled many projects which promised to significantly boost production from current levels of about 1.2mn b/d. Security challenges and financial constraints are among the biggest challenges. FURTHER PROSPECTS Agoco ha...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Tunisia Draws Record Power From Algeria In 2021
...WER SUPPLY JUMPS TO ALL TIME HIGH ON RECORD IMPORTS FROM ALGERIA (TWH) *TUNISIA EXPORTED NEGLIGIBLE AMOUNTS TO ALGERIA IN 2011, 2014 AND 2015. IT ALSO EXPORTS POWER TO LIBYA WHICH CAME IN AT 649GWH IN 2020 AND 62GWH IN 2021. SOURCE: STEG, ENERGY MINISTRY, MEES CALCULATIONS. 2: TU...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Libya Gas Exports To Italy Restart
...ES, 2 July 2021). A forced closure of the Wafa field by an armed group in the final days of last year also reduced exports (MEES, 24 December 2021). Libya’s gas exports to Italy averaged just 313mn cfd (3.23 bcm) for 2021, the lowest annual figure since 2011 (MEES, 28 January). ...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Spain 2021 Crude Imports: Mideast Share Falls To Multi-Decade Low, Again
...d the region’s 14% market share the lowest on record for the second year in a row. Market share is down from as high as 38% in 2011 and 25% as recently as 2018, as Middle Eastern crude increasingly flows to Asia. *A key factor in this erosion has been the lack of imports from sanctions-hit Ir...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Syria Says Oil Sector War Damages Hit $100bn As Assad Loyalists Scoop Contracts
...21). ‘STOLEN OIL’ Mr Tomeh’s estimate of Syrian wellhead production is a far-cry from pre-conflict 2011 levels of 353,000 b/d. And given that the Syrian government had lost control of the bulk of the country’s oil and gas fields to US-backed Kurdish forces (see map) it will be tough for Damascus to...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Libya’s Noc Eyes Algeria Border Fields Potential
...tential for tie-ins to Eni’s Wafa field. Though said to be promising, no discoveries have been made on these blocks to date. BP was on the cusp of drilling in 2011 but that year’s bloody revolution saw the UK-major pack its bags. It remains far from clear whether Eni still holds the same appetite for th...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Israel & Egypt’s Blossoming Energy Relationship
...ntacts have been threadbare (save Israeli tourists in Sharm el Sheik). The first two attempts at energy tie-ups, the 2001 Midor refinery, and the 2008 East Mediterranean Gas (EMG) pipeline built to deliver Egyptian gas to Israel collapsed in acrimony (MEES, 1 August 2011). Even the latest pr...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Egypt Downstream: ERC Boosts Output & Exports To 2020 Records Despite Covid Slump
...– at 649,000 b/d the latter was up 21% year-on-year including record output of gasoline (97,000 b/d) and jet-kero (68,000 b/d) with diesel output of 171,000 b/d just fractionally below the all-time high set in 2011. *But for Q2, output of all products slumped versus Q1, with the overall ou...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Shell & Petronas At Odds Over Egypt Expansion
...indled from 1.2bn cfd in 2012 to around 500mn cfd now. The WDDM slump is the result of a combination of high underlying decline rates, underperforming wells and slashed investment amid soaring receivables in the years following Egypt’s 2011 revolution (MEES, 7 February, 2014). Shell in early 2018 dr...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Iraq Struggles To Find Developers For Mansuriya Gas Field
...nistry of oil, it really shouldn’t have. The field was originally to be developed under a 2011 contract by a consortium of Turkey’s TPAO (22.5%op), Korea’s Kogas (15%), and the Kuwait Energy subsidiary of Hong Kong based United Energy Group (UEG 22.5%) alongside state-owned Oil Exploration Company (OEC 25...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Saudi Arabia’s Oil Sector In 2020: Assessing A Tumultuous Year
...mand of 455,000 b/d was the lowest since 2011 and down 17% year-on-year. Demand bottomed out at 231,000 b/d in April amid tight Covid-19 mobility restrictions and while it rebounded to 530,000 b/d in October, it exited the year at 488,000 b/d. The impact on diesel demand was more muted due to the fu...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Spain 2020 Crude Imports: Record Low Mena Share Amid Libya Collapse
...lumes of 181,000 b/d were the lowest on record, whilst the North Africa total of 63,100 b/d was the second lowest after Libya’s revolutionary year of 2011. *Spain’s top two suppliers, Nigeria with 220,000 b/d, and Mexico on 160,000 b/d, were the same as 2019, whilst Libya’s collapse saw Saudi cl...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Egypt Oil Output Plumbs New 40-Year Low For 2020
...nai). *The Western Desert, which overtook the Gulf of Suez region as Egypt’s key production area in 2011 and has provided over half of production since 2014, saw output fall 7% to a 9-year low of 321,000 b/d for 2020. December’s 290,000 b/d was the lowest monthly figure since May 2010. This comes as the re...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
KRG: DNO Buys Out Exxon At Baeshiqa, Eyes Development
...ce its exit from the block is finalized, it will be left with just the Pirmam block where it confirms that it still retains its 80% operating stake. The US supermajor initially signed up to six blocks, including Baeshiqa, in a controversial 2011 deal. Not only did Baghdad oppose the signing of ag...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
Libya’s Power Sector In A Race Against Time
...vember 2020) though more is needed. Power supply shortages have been a huge problem since the 2011 revolution and the chaos that followed (MEES, 21 January 2019). But capacity was flagging even before the uprising: one unit of the 480MW Khoms steam turbine plant hasn’t been overhauled since 1996. Ma...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021