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Tunisia Sees 2021 Output Rebound. Will It Last?
...e show was local firm Topic’s offshore Halk El Menzel field which started up in January 2021 (MEES, 22 January 2021) and produced 5,800 b/d for year, easily snatching the title of the country’s top producing field. Sales gas output soared past the 200mn cfd mark for the first time since 2017 af...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
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 Seeks To Import Qatari LNG, But How?
...ur facilities would appear a viable option. There have been previous moves towards gas interconnection between the two countries, although those focused on Iraq supplying Kuwait. Plans first mooted in 1985 and re-visited in 2017 and 2018 (MEES, 21 April 2017 & MEES, 27 April 2018) would have seen Ir...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Saudi Arabia’s Oil Export Revenues Jump To Three Year High
...salination. Combined crude burn and fuel oil consumption (the majority of which is burned) dipped slightly last year from 1.02mn b/d to 1.00mn b/d, but this was still the second highest annual figure on record. Since 2017, fuel oil burn has outstripped crude burn. But while fuel oil consumption dropped by 5% la...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Wintershall Dea and Sonatrach Eye Low Carbon Opportunities
...ggane Nord project which started up in 2017. Algeria is hoping to convert several MoUs signed with IOCs to concrete investment deals under its recently activated 2019 oil law. Eni is so far the only confirmed company to have been awarded a concession under the law’s improved terms (MEES, 17 December 20...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Kurdistan’s Baeshiqa Field Set For Q2 Startup
...crease significantly, along with considerable volumes being moved into the 2P category. The bulk of current resources, 37.8mn barrels, are within the Baeshiqa structure. BAESHIQA SUPPLEMENTS TAWKE Baeshiqa will be the first new asset that DNO has brought online in Kurdistan since Peshkabir in 2017...
Volume: 65Issue: 07Published at Fri, 18 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 -
Borouge Partners Consider IPO
...noc Distribution shares began trading in 2017 (MEES, 1 December 2017), while an IPO of Adnoc Drilling was carried out last year (MEES, 10 September 2021)....
Volume: 65Issue: 07Published at Fri, 18 Feb 2022 -
Iraqi Kurdistan Gas Pipeline Boost: Turkey Exports Next?
...reement, Kurdistan was to supply Turkey with an initial 4 bcm/year from 2017, rising to 10 bcm/y by 2020 with the option of increasing to 20 bcm/y (MEES, 17 January 2014). A 2017 agreement for Rosneft to construct a pipeline with up to 30 bcm/y capacity also came to naught. Progress since then has been es...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Syria Says Oil Sector War Damages Hit $100bn As Assad Loyalists Scoop Contracts
...y asset in Kurdish-held territory is the 20,000 b/d Block 26 along the Iraqi border, which since January 2017 has been operated by Syrian state firm GPC under a revenue-sharing deal with the local Kurdish authorities (MEES, 11 June 2021). Despite GPC’s operatorship, production from Block 26 appears to...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Majors Capex Down Again To Lowest In Over A Decade, 2022 To Remain Restrained
...ropean firms’ 2021 spending was disciplined, their US counterparts’ outlay was positively anemic. ExxonMobil’s spending fell by 22% to just $16.6bn, falling below that of Shell to make 2021 the first year since 2017 that Exxon has not been the top spending major. But Exxon is also penciling in the la...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Dubai’s Coal U-Turn Simplifies UAE Energy Messaging
...pacity to handle domestic demand without Hassyan. Capacity (including the first 600MW at Hassyan) exited 2021 at 13.2GW, and rose to 13.4GW last month, while MEES estimates that peak load was around 10GW (see chart 1). REVISING 2050 TARGETS When the UAE in 2017 set out its National En...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
BP/Equinor Algeria Gas Output Rebounds In 2021
...is was still almost 300mn cfd lower than 2017’s record 815mn cfd. In Salah’s output rose 19% to 571mn cfd in 2020 – the second lowest on record after 2020’s 481mn cfd. Partners BP, Equinor and Sonatrach have struggled to halt production declines over the years, despite the completion of field tie-in...
Volume: 65Issue: 06Published at Fri, 11 Feb 2022 -
Iran Sets New Production Targets As Owji Offers Oil To The World
...rget is a flashback to 2015 when the Joint Comprehensive Plan of Action (JCPOA) was signed and Iran sought to bring foreign firms back into the country. Back then Iran targeted 5.7mn b/d by 2017-18 (MEES, 25 September 2015), but few firms were willing to take the plunge. TECHNICAL & FINANCIAL CH...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Exxon Eyes 25% 2022 Permian Growth
...ficiencies and driving technology applications… has worked very, very well, and we’re seeing the results of that.” This references a strategy first set out in 2017 (MEES, 17 February 2017) and expanded upon two years later (MEES, 15 March 2019). Exxon also stuck to its guns and doubled down on the Pe...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Egypt To Seek More IMF Aid Amid Growing Budget Deficit
...se. Preliminary figures for the first half of the current 2021-22 financial year (ie for 2H 2021) show subsidies and grants spending rising to E£136bn ($8.6bn), the highest first half figure since 2017-18 and up 36% from the 1H 2020-21 figure (see table and chart 1). Whilst comparing part year ac...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022