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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