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Kuwait’s Emir Appoints Eldest Son As PM
...nistry of Interior. Prior to his March ministerial appointment, he had served as the Governor of Hawalli province from 2014. He had risen within the Ministry of Interior to become Deputy Interior Minister for Education and Training while holding a Lieutenant General rank. The PM-designate had pursued hi...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
KRG Revenues Up But Dire Finances & Political Disputes With Baghdad Linger
...able to pay state employees on time. In communication with Baghdad the KRG says that “from 2014 to 2019, the Federal Government has not provided [the KRG] its financial entitlements, forcing the KRG to find new sources of financing [prepaid debt] and areas of savings to provide for its expenses, in...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Saudi Oil Export Revenues Soar To $31bn For May
...Saudi Arabia is on track for record oil export revenues this year. May’s $31bn was the highest monthly figure since at least 2014. Diesel flows to Europe are on the up. Saudi oil export revenues climbed to a new post-2014 peak of $31bn in May as the energy giant capitalized on high oil pr...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
China 1h Crude Imports: Bumper Mideast Share Under Threat From Russia
...years – beating 2014’s 52.2% (see chart 2). In reality, this now looks unlikely: the recent increase in Russian volumes saw the Mideast market share slump to 46% for June. This came as China’s overall import volumes fell to a four-year low of 8.76mn b/d for June. Perhaps not surprisingly Saudi Ar...
Volume: 65Issue: 29Published at Fri, 22 Jul 2022 -
Libya’s Oil Sector In Turmoil After NOC Head Ousted
...pacity since May 2014, has refused to acknowledge the order which was made public on 13 July. He says he is still the official head of the firm and that all NOC subsidiaries still answer to him. The episode is just the latest in an increasingly complex and fluid power struggle be...
Volume: 65Issue: 28Published at Fri, 15 Jul 2022 -
Algeria’s Finances: Oil Revenue Windfall To The Rescue
...After years of low oil prices and dwindling state coffers Algeria is set for its best year since 2014 in terms of oil export revenues. Algeria’s state finances are on the up on the back of surging oil prices which have already resulted in a 75% increase in gross oil export revenues in...
Volume: 65Issue: 28Published at Fri, 15 Jul 2022 -
Iraq Posts Record Revenues Amid Fast-Changing Market
...spite oil prices this year still not quite setting new records underlines the extent to which Iraq managed to increase output capacity since the previous high-price cycle ended in 2014. Iraq crude oil production averaged 3.33mn b/d in 2014, and even with Opec+ cuts remaining in force up until th...
Volume: 65Issue: 27Published at Fri, 08 Jul 2022 -
Shell Completes The Set For Qatar’s NFE Expansion
....2%. With prices soaring, Qatari export revenues are booming and the latest government figures show a $500mn jump in May to $12.44bn – the highest figure since March 2014’s $12.46bn (see chart). Revenues are fast closing in on that figure and on January 2014’s $12.58bn, which is the highest monthly fi...
Volume: 65Issue: 27Published at Fri, 08 Jul 2022 -
Opec Revenues Set For 2022 Windfall After 2021 Turnaround
...cession could take the edge off recent highs is the focus. Still, even if oil prices pull back from their recent $100-$120/B range, the group is on course for its highest revenues since 2014 when it took $901bn. If the January to May average price of each Opec member’s key export gr...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Yemen Upstream Hit By OMV Exit
...e post-2011 security situation forced delays, production hit a record 14,500 b/d in 2014 (6,400 b/d net to OMV). With Yemen’s conflict continuing to deter foreign firms, few emulated OMV and returned to the country. Indonesia’s Medco Energi returned to its Block 9 in the less-volatile Ma...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Egypt’s Mature Onshore Sees Signs Of Output Growth
...s been on an almost continuous downward trend since upstream investment collapsed in 2015 following a halving of oil prices in late 2014 (see chart 1). Cuts to upstream budgets in 1H 2020 delivered a further kick in the teeth (MEES, 31 July 2021) But some smaller producers are beginning to boost in...
Volume: 64Issue: 30Published at Fri, 30 Jul 2021 -
Oman Unveils 2021 Upstream Bid Round
...ospect, which had been slated for 2020, appears to have been dropped amid the Covid-19 pandemic. The relinquishment “after an unsuccessful exploration programme” marks Mol’s departure from Oman after having relinquished Block 43B in 2014 (MEES, 31 March 2017). BLOCK 23: OFFSHORE APPETITE? Th...
Volume: 64Issue: 29Published at Fri, 23 Jul 2021 -
Morocco’s Disputes With Algeria & Spain Heat Up As Pipeline Deadline Looms
...me again in line with average 2014-18 Algeria-Spain volumes of 18bcm/y without recourse to GME. Algeria’s liquefaction facilities typically operate at below 50% of their combined 25.5mn t/y capacity, with the latter equating to around 30bcm/y of gas (MEES, 25 June: Algeria’s smaller Skikda plant re...
Volume: 64Issue: 29Published at Fri, 23 Jul 2021 -
Egypt Gas Output Slumps On Zohr Outages
...bruary’s record low (MEES, 9 April). Sustained falls in oil output have come as firms slashed spending following 2014’s oil price slump and then again last year (MEES, 12 February). Key Western Desert producer Apache says it hopes to raise investment in the second half of this year, with output growth to...
Volume: 64Issue: 28Published at Fri, 16 Jul 2021 -
Korea Crude Imports 1H 2021: Mideast & Opec Share At Record Low
...cades. This comes as overall volumes for the world’s number four crude importer fell by 5.4% to average 2.58mn b/d for 1H 2021, the lowest first half figure since 2014. Whilst Korea’s oil demand continues to be suppressed by Covid – and movement restrictions have been increased in recent weeks with fears of...
Volume: 64Issue: 28Published at Fri, 16 Jul 2021 -
QP, Exxon Ramp Up Barzan Gas Output
...tended to start up in the first half of 2014 (MEES, 12 October 2012), but a litany of delays pushed this back by a full six years. ExxonMobil only confirmed earlier this year that the $10.3bn project had finally started up in 2020 (MEES, 2 April). QP has now fleshed out the details somewhat in the pr...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Iraq’s Minister Of Oil Parliament Questioning Session Underscores Energy Sector Challenges
...re “close to accuracy” – and added that the ministry had “observations” on Kogas’ performance. Kogas declared force majeure on the field in 2014 as Islamic State overran the area, but after the area was retaken Baghdad became frustrated with the Korean firm’s continued security concerns and sought to br...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Abu Dhabi Reaps Clean Energy Rewards
...3 trillion BTU of natural gas last year, which equates to around 2.2bn cfd. This was the lowest figure since 2014, thanks in large part to the start-up of Barakah. Although Ewec’s total power generation also dipped last year, at 84.7TWh, it was still the second highest annual figure on record. NU...
Volume: 64Issue: 26Published at Fri, 02 Jul 2021 -
Algeria’s Gas Exports Reach Decade High
...gnificantly boosted sales gas output (MEES, 21 May). So much so that Algerian production of 29bcm (11.4bn cfd) in the first quarter of 2021 was the highest on record. Although volumes dropped somewhat in April to 9.6bn cfd, this is still the highest April number since Algeria began reporting data to Jodi in 2014...
Volume: 64Issue: 26Published at Fri, 02 Jul 2021 -
Egypt’s Key Oil Producers See Output Slump
...ill.” In particular the firm is eying “stratigraphic targets” similar to the 2014 Ptah and Berenice discoveries (see map) which have been central to how Apache has since viewed the region’s geology. “We’ve got some wells we’re pretty excited to drill. The nice thing about those is they’re vertical, on...
Volume: 63Issue: 31Published at Fri, 31 Jul 2020