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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 -
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 -
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 -
KRG’s Oil Sector Hangs By A Thread As Iraq-Turkey Arbitration Nears Closure
...mpromise on the region’s independent oil sector, or whether the KRG instead doubles down and pushes more volumes onto the grey market. WAITING ON PARIS The origin of the dispute is in 2014, when the KRG completed its own independent pipeline connecting its oilfields to the Turkish bo...
Volume: 66Issue: 05Published at Fri, 03 Feb 2023 -
Iraq’s Supreme Court Rules Against KRG Oil Independence
...deral budget in February 2014” leading “to a major financial crisis in the region.” Adding that it started exports in March 2014 “in an attempt to secure salaries and public services.” In its litigation, Erbil also had said that Baghdad had agreed to its independent exports by budgeting for the re...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Libya Back To Square One With Two Prime Ministers
...the political division between 2014 and 2021 when two rival parallel administrations, one based in the east and another (internationally recognized) one based in the west, vied for control of the country. The failure by eastern-based General Khalifa Haftar to take Tripoli by forced during a 20...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Qatar Export Revenues Surge To Seven Year High
...venues jumped to a seven-year high in 2021. The $87.2bn that Qatar’s exports brought in last year was the highest figure since the $100+/B days of 2014 (see chart 1), and the ongoing global gas crunch ensures that 2022 will get off to a strong start. Indeed, with Qatar exporting a near record 7.35mn to...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Israel & Egypt’s Blossoming Energy Relationship
...ck in 2014 signed Letters of Intent to pipe Leviathan gas to Idku (MEES, 4 July 2014) and Tamar gas to Damietta (MEES, 9 May 2014). Tying back Leviathan to one of the existing-but-underutilized Egyptian LNG plants always made sense economically. The estimated cost of $3bn, including four ad...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Iraq Struggles To Find Developers For Mansuriya Gas Field
...%). The consortium halted development of the Diyala province field in 2014 due to Islamic State attacks across the province (MEES, 10 October 2014). Security concerns remained despite the Islamic State being pushed back, and in 2018 Baghdad announced it would develop the field itself (MEES, 3 August 20...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Libya’s Power Sector In A Race Against Time
...at Libya has had rival eastern and western governments since 2014 hasn’t exactly helped matters. The parallel administration in the east has its own power authority which has complicated efforts to coordinate operations and policies. Libya’s new unity leadership which was in the process of being se...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Algeria Posts 5th Straight Trade Deficit
...$6.11bn for 2019 (see chart). Oil and gas revenues are down 15% at $33.24bn – half levels consistently reached before the 2014 oil price crash and a substantially larger slump than the 9% fall to $64.5/B in the price of Algeria’s Saharan Blend crude. This reflects the fact that gas prices have been un...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Iraq Crude Exports: Slow January Highlights Systemic Vulnerabilities
...aqi exports averaged 3.96mn b/d over 2019, up from 3.82mn b/d for 2018. Overall, more than 60% of Iraqi exports ended up in the major Asian markets. The proportion has increased considerably over the past five years, with barely 50% heading to Asia in 2014. Unsurprisingly, China as the world’s la...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020 -
IOCs ‘Exclude’ Libya From 2019 Plans
...serves on its Murzuq basin acreage (MEES, 31 January 2014), however, of the six wells planned for 2014 only three were drilled before worsening security saw the canning of not only these three wells but also six further wells slated for 2015 (MEES, 13 March 2015). No wells have been drilled since. Re...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Kuwait Oil Sector Risks Being Left Behind
...wait racked up budget deficits of nearly $65bn between 2014-15 and 2017-18, the emirate’s financial buffers have proven sufficient to absorb it. Kuwait will swing into a surplus this year (to April 2019), potentially of around $8bn. However, a deficit is again on the cards for 2019-20 (MEES, 25 January). ...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Sudan, South Sudan Claim Oil Production Boon, But How Much?
...0,000 b/d to come from former Upper Nile state. Prior to the conflict, production from Blocks 3 and 7 in the Upper Nile region was close to 200,000 b/d. But by late 2014 this had dropped to 140,000 b/d, and it plunged to just 117,000 b/d in 2Q 2018. If rehabilitation work in Upper Nile can be successfully ca...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Qatar 2018 Revenue Surge Finances Renewed Checkbook Diplomacy
...ntinued largely without hiccup. With prices at multi-year highs last year, Doha raked in bumper revenues. Total export revenues surged 25% year-on-year to a four-year high of $84.3bn in 2018 (see chart). This was, however, still substantially down on 2014’s $130.7bn. Hydrocarbons accounted for 88.5% of...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Baghdad-Erbil Refining Deal Signals Pragmatism Winning Out
...G). Mr Luaibi says the agreement will allow the production of badly needed fuels for the Nineveh, Kirkuk and Diyala provinces. These include areas liberated from Islamic State (IS) jihadists. Iraq has suffered acute products shortages since IS badly damaged the 310,000 b/d Baiji refinery in June 2014. Ba...
Volume: 60Issue: 08Published at Fri, 24 Feb 2017 -
Tunisia: Oil & Gas Slump, Tourism Collapse – Bonds To The Rescue?
...e economy. 2014 revenue of $2.14bn equated to 7% of GDP but that was before a precipitous 54% fall in 2015 with terrorist attacks at Sousse and on Tunis’ Bardo museum. Sky-high youth unemployment of 35%, rising to 67% for recent graduates according to IMF stats, has helped fuel the labor unrest (ma...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Iraq: Abadi’s ‘Technocrat’ Reshuffle Plan Slim On Detail
...eceding government had distributed state-controlled properties to officials to buy support. As for the technocrat government, Mr Abadi did not give details, but sufficed with explaining his rationale. He argued that given that the key challenge when he was elected in September 2014 was the collapse in se...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
KRG Looks To Call Abadi’s Bluff On Salary Gambit
...fectively, this would mean a return to the defunct December 2014 revenue sharing agreement. In accepting Mr ‘Abadi’s offer, the KRG said “each month it needs ID980bn [$820mn], ID336bn [$281mn] of which is paid to Peshmerga forces”. Figures released by the KRG Ministry of Natural Resources (MNR) on 16...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016