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Heavy Oil Start Up Boosts Kuwait Upstream Sector
...en the onshore Wafra field was shut-in (MEES, 15 May 2015). That followed the shut-in of the offshore Khafji field in October 2014 (MEES, 24 October 2014). In the last year of full-production (2013), output from the PNZ averaged 460,000 b/d, with 250,000 b/d from the offshore and 210,000 b/d from th...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Repsol Mena Pullback
...rector Didier Lluch said in 2014 (MEES, 20 March 2015). Development of Algeria’s supposed 800tcf of shale gas reserves has again moved up the agenda in the country’s latest ‘Energy Action Plan’ (MEES, 14 February). Debating plans for years on end without actually doing much is an Algerian specialty: the ge...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
KRG: Repsol Exits Kurdamir
...maining 20%. Repsol inherited the Kurdamir license in 2014 when it bought out Canadian shale-focused firm Talisman Energy for some $13bn, along with the neighboring Topkhana (Repsol 80%, KRG 20%; MEES, 19 December 2014). Initially bullish development plans faded away and the firm has rarely mentioned th...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Saudi Energy Minister Makes Gas Export Pledge
...tension for assisting Aramco design strategies to “produce and deliver significant volumes of gas from shale and tight gas reservoirs.” The initial contract award was made in 2014. Mr Nasser said last year that Aramco would advance the planned Jafurah processing plant in 2020, which will form the key pl...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
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 -
Kuwait/Saudi Neutral Zone: Restart Imminent?
...wn.” The PNZ also contains the offshore Khafji field, which Kuwait and Saudi Arabia also aim to start-up in the coming months. It was producing 220,000 b/d before its 2014 shut-in. ...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Saudi-Kuwait Neutral Zone Start-Up Approaches
...wait, and peaked at more than 500,000 b/d. However, output had slid below 500,000 b/d even before the first shut-ins in 2014 (MEES, 25 October 2019). In the last full year of output, 2013, the offshore section produced over 250,000 b/d, while the onshore portion added another 210,000 b/d, for a co...
Volume: 63Issue: 06Published at Fri, 07 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 -
Egypt Petchems Sector Boosted By Gas Revival, Eyes Expansion
...ES, 8 May 2015). Data from state firm Echem – partner in most Egyptian petchems projects – show its output rebounding from 1.47mn tons for the 2014-15 financial year to 3.8mn tons for 2016-17. PETCHEMS STRATEGY President Abdel Fattah al-Sisi met with oil minister Tareq El Molla and ot...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020 -
Algeria’s Sonatrach: New CEO, Same Old Challenges
...UINOR, MEES CALCULATIONS. 2: ALGERIA'S OIL & GAS REVENUES HAVE SLUMPED SINCE THE 2014 CRASH IN OIL PRICES BUT STILL MAKE UP NEAR-40% OF OVERALL BUDGET REVENUES SOURCE: IMF, ALGERIA FINANCE MINISTRY, MEES. 3: ALGERIA'S GAS EXPORTS (BCM) ARE LOWEST SINCE 1995, WHILE OUTPUT HAS SL...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020