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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