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Sudan-Iran Diplomatic Thaw Raises Stakes In Battle For Red Sea Influence
...men (MEES, 20 January 2017). Iran and Sudan committed to reopening their respective embassies in the other’s capitals amid the “opening of a new chapter” between Tehran and Khartoum, according to an Iranian official statement. TIPPING THE SCALE Ç The diplomatic br...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Deadly Militia Attack On US Outpost In Jordan Underlines Iraqi Government’s Weakness
...litias could destabilize a fragile reconciliation between Iraq and its Arab neighbors, and possibly threaten the economic and trade gains that Baghdad hopes will bring much-needed investment from GCC countries (MEES, 8 December 2017). SOPHISTICATED AND STRATEGIC ATTACK The line be...
Volume: 67Issue: 05Published at Fri, 02 Feb 2024 -
KRG’s Oil Sector Hangs By A Thread As Iraq-Turkey Arbitration Nears Closure
...,000 b/d through the link. PIPELINE TO THE WORLD The stretch of pipeline in Kurdistan was built and operated by domestic firm KAR and had an initial capacity of 300,000 b/d. This was expanded to 700,000 b/d and then in June 2017 Russian state-firm Rosneft took a 60% stake and invested in ex...
Volume: 66Issue: 05Published at Fri, 03 Feb 2023 -
Iran Eyes Qatar As Diplomatic Bridge
...s Exporting Countries Forum (GECF) meeting in Doha. Qatar has always sought to maintain cordial relations with Iran, and the 2017-21 embargo of Qatar by its GCC neighbors strengthened ties between Doha and Tehran. Raisi alluded to this, saying that Iran “in difficult times always stands by the in...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Iraq’s Supreme Court Rules Against KRG Oil Independence
...venues of 250,000 b/d of oil exports. For the 2018 federal budget, both parties had agreed to hand over the volume to Somo for marketing but the deal did fell through (MEES, 17 November 2017). Since then, budget laws passed by parliament had the revenues added but the KRG never fulfilled the obligation. Th...
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Egypt-Palestine-Qatar
...om Egypt and Qatar this week meeting in Kuwait to discuss the normalization of bilateral relations. Egypt in 2017 joined Saudi Arabia, the UAE and Bahrain in breaking off relations with Qatar. The three Gulf countries last month agreed to end the embargo and reestablish relations (MEES, 8 January). ...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Iraq Struggles To Find Developers For Mansuriya Gas Field
...erating on a feedstock of diesel and heavy fuel oil. Iraq’s notorious practice of fuel switching due to gas shortages reduces efficiency and increases maintenance requirements (MEES, 12 February). In 2017, GE restored 90% of the power station’s generation capacity after large parts of the site had be...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Libya’s Power Sector In A Race Against Time
...ka said last month it was “about to start construction” on two gas turbine power plants – 650MW Misrata and 690MW Tripoli West – worth a combined 1.3GW (MEES, 8 January). Enka’s partner on the projects, Siemens, will provide the turbines. At the time of the original award in 2017, Siemens costed th...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Iraq Crude Exports: Slow January Highlights Systemic Vulnerabilities
...ptember 2017. Exports from the semi-autonomous Kurdistan Region also fell – to just 350,000 b/d according to data intelligence firm Kpler – pointing to total Iraqi exports of just 3.66mn b/d. Federal exports can often be volatile in the winter months when bad weather can impede loadings from Basra, an...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020 -
Saudi Crown Prince’s Asian Tour: Lots Of Promises, Little Detail
...increasingly precarious dependence on Chinese debt. As for Saudi Arabia, the investments could guarantee access to a growing market for its crude oil. It provided 88,000 b/d of Pakistan’s 212,000 b/d oil imports in the 2017-18 financial year, behind only the UAE on 121,000 b/d (MEES, 9 No...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Gulf Loses Patience With Sudan
...$1; a lack of banking liquidity is expected to bring further declines. Government plans to print more large-denomination banknotes have been thwarted by a lack of the right kind of paper. Gross international reserves in 2017 were just $1.1bn, providing less than two months of imports cover, according to th...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Iran Exports: Korea Restart Amid French Euro-Hope
...gressive pricing. It has raised the Iran Light Mediterranean OSP by 25¢/B versus competing Saudi Arab Light over the past two months, though prices remain near record discounts (see p27). IMPORTS OF IRANIAN CRUDE & CONDENSATE ('000 B/D): VOLUMES EDGE UP IN DECEMBER; 2018 DOWN 580,000 B/D ON 2017...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
IOCs ‘Exclude’ Libya From 2019 Plans
...r them in 2018, with crude output hitting a five-year high of 220,000 b/d, up 80% on 2017 (see chart 2). Production could have been higher still if it wasn’t forced to temporarily halt production in June following attacks on export terminals (MEES, 29 June 2018). Part of the plans to double cr...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Kuwait Oil Sector Risks Being Left Behind
...oduction capacity of 3.15mn b/d in its 2017-18 Annual Report, but the firm subsequently stated in December that capacity was languishing at just 3.0mn b/d. This was especially galling given that KOC had brought online 120,000 b/d of light oil from its Jurassic reserves between January 2018 (MEES, 19 Ja...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Sudan, South Sudan Claim Oil Production Boon, But How Much?
...most all crude exports from the Sudans, gives no indication of an uptick in volumes. 2018 imports from South Sudan, at 68,000 b/d, were level with 2017, whilst numbers for both Q4 and December were below the 2018 average (see chart). In a broader context, any increase in crude production is a ma...
Volume: 62Issue: 06Published at Fri, 08 Feb 2019 -
Qatar 2018 Revenue Surge Finances Renewed Checkbook Diplomacy
...bargo. The Saudi-led embargo was imposed in June 2017 (MEES, 9 June 2017) and so 2018 was its first full calendar-year in force. Economic data shows that Qatar is comfortably weathering the storm, having rejigged a few trade routes to adjust to the new situation. Critical exports of LNG and oil have co...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Qatar’s Emir On Asian Tour
...pplier to Korea, which imported a record 14.3mn tons from the emirate in 2018. Korea is also Qatar’s largest buyer of the fuel (see p5). The potential downsides of Qatar supplying clients with its own LNG fleet was exposed in June 2017 when its neighbors (Saudi Arabia, Bahrain and the UAE) imposed an ec...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Lebanon’s ‘New’ Government Set For Uphill Battle
...d a consortium of Total (40%op), Eni (40%) and Russia’s Novatek (20%) was awarded two exploration blocks (MEES, 15 December 2017). One well, in Block 4, is expected to be drilled this year (MEES, 16 February 2018). The most recent stalemate has already pushed back a planned second bid round in...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Saudi Arabia Launches Latest Investment Drive
...0bn to the kingdom’s GDP by 2030. That amounts to 41% of 2018 GDP, which data for the first nine months of the year implies will be nearly $775bn. Certainly Saudi Arabia could do with an injection of economic growth. After the economy contracted 0.9% in 2017, it edged up by around 1.7% over the first ni...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Libya Warns Of Potential Major Output Fall Amid Strained Economy
...sponsibility for the firm’s funding problems lies, claims Mr Sanalla. “The entire sector is suffering from these problems because of delays in the finance ministry disbursing budgets to the corporation for this year,” he said. NOC received only 50% of its capital budget in 2017, said Mr Sanalla in late Ja...
Volume: 61Issue: 08Published at Fri, 23 Feb 2018