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Erbil Plays Russian Roulette With Independence Vote
...ashpoints such as Kirkuk, Sinjar, Khanaqin and Makhmour will all be participating. The exact delineation of the areas which will vote has yet to be confirmed, but Kurdish peshmerga have held large swathes of disputed territories against the Islamic State since 2014, enabling de facto control for Erbil. Re...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Troubled Waters: GCC Internal Schisms In The Spotlight Again
...milar accusations leveled at it from multiple fronts. Saudi Arabia appears motivated to try to clamp down on its smaller neighbor’s highly vocal independent foreign policies that refuse to adhere to Riyadh’s line. This was also the case in 2014 when Saudi Arabia, UAE and Bahrain withdrew their am...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
UAE Gas Supplies: Qatar Dependence Remains Despite LNG Diversification
...eater LNG supply diversification As Dubai’s LNG buying picks up with the start of summer the emirate faces no shortage of supply options. Australian volumes more than quadrupled since 2014, hitting 265,000 tons last year, and while the UAE hasn’t bought any yet this year, this could change in the su...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Rig Count: Iraq Drilling Resurgent, Saudi Offshore Growth Slow To Materialize
...gs in Iraq (all are onshore oil rigs) hit a 17-month high of 51 in May. Drilling is still well down on 2014’s highs, but has been steadily increasing since the second half of 2016. How much further it will rise in 2017 is unclear as IOCs are still cautious on investment in Iraq. Shell has mo...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Sadara Starts First Saudi PMDI, BGE Plants; Targets Polyurethane, Solvent Markets
...ll as 700,000 t/y of paraxylene and 200,000 t/y of propylene (MEES, 15 August 2014). Aramco is mulling further petchems capacity at Jubail, where besides Sadara and Satorp it has equity in the 300,000 b/d Sasref refinery joint venture with Anglo-Dutch major Shell. Aramco’s website says the co...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Dubai Claims New Solar Pricing Record, This Time For CSP
...cording to an authoritative 2014 Baker Institute paper citing an Abu Dhabi energy official. Since then LCOEs for both CSP and PV solar capacity plunged (see charts), driven in particular by tumbling solar technology costs. However, there is some concern in the industry that developers are making di...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Libya, Nigeria Gains Expose Opec Deal’s Limitations
...nce November 2016, while Libya’s 770,000 b/d was its highest monthly output since October 2014. Both countries have flattered to deceive in the recent past, securing production gains that they have been unable to maintain and this may again be the case. This has especially been the case in Libya wh...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Algeria: Government Reshuffled But Course Unchanged
...o have become increasingly desperate for new policies in the wake of the oil price crash in 2014, are likely to be sorely disappointed. On the face of it, major changes have been made. Abdelmalek Sellal finally comes to the end of his tenure as prime minister, a post he held for almost five ye...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Egypt Seeks Virtuous Output Circle: Reserves Up, Dues Down, More Output
...e official receivables total at just $2.3bn, down from $3.4bn at end-March, $3.5bn at end-2016 and a high of $6.3bn in 2014. These official figures are substantially lower than MEES estimates based on company filings ($4.35bn at end-Q1), although however you look at it the trend is clearly down. Th...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Tunisia Output Collapses: Southern Fields Shut In, No End In Sight To Protests
...in the wake of Tunisia's 2011 uprising. The lack of perceived benefits to locals from oil and gas output has been a recurrent theme. The Nawara project, previously known as the ‘South Tunisia Gas Project’ gave rise to protests in the south of the country even before it was sanctioned in 2014...
Volume: 60Issue: 22Published at Fri, 02 Jun 2017 -
Qatar: Oil & Gas Revenues Edge Up But Hit By Ratings Downgrade
...phtha exports surged to a record high in Q1, while Jet-Kero exports hit their highest level since Q2 2014 and Qatar exported diesel for the first time since January 2015. All this happened despite major problems at the 140,000 b/d capacity Pearl gas-to-liquids (GTL) plant which saw operator Shell run it at...
Volume: 60Issue: 22Published at Fri, 02 Jun 2017 -
Gulf Opec Maintains Asia Volumes But Loses Market Share
...r the first four months of 2017, down from 48.0% a year earlier and over 52% for 2013 and 2014. Opec’s core Gulf members are increasingly coming up against an upstart newcomer in the lucrative Asian markets – the US. The growing volumes of US liquids turning up in Asia are indicative of the on...
Volume: 60Issue: 22Published at Fri, 02 Jun 2017 -
Iraq Oil Takings Up
...Iraqi crude export revenues totaled $4.66bn in May, the sixth successive month in which they exceeded $4.5bn. This is the first time Federal Iraq has achieved this since December 2014 as the collapse in oil prices since mid-2014 has offset a 35% increase in export volumes. But it looks as if th...
Volume: 60Issue: 22Published at Fri, 02 Jun 2017 -
Oman Races Ahead Of Production Target, Diversifies Export Markets
...om oilfield services firm Baker Hughes show the number of active oil rigs averaged 58 for the first five months of 2016, up from 53 in the same period last year and 48 for January-May 2014. The government this month raised $2.5bn from its first international bond issue since 1997 (MEES, 17 June) an...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Qalaa Looks To Trim Debts
...Cairo-based energy-focussed investment firm Qalaa Holdings – formerly Citadel Capital – plans to reduce its debt to E£4bn by the end of 2017, having already reduced its money owed from E£10bn in 2014 to E£6.5bn ($735mn) at present, according to MD Hisham al-Khazindar. Qalaa needs to slash it...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Kuwait To Hike Gas-Fired Capacity After Bagging More LNG
...d a fractious relationship over the zone lately. Riyadh shut down 200,000 b/d of Neutral Zone oil production in October 2014, citing environmental concerns, as relations deteriorated. Limited output resumed only recently (MEES, 1 April). Despite the political concerns, Kuwait is not only building tw...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Dubai Plans Largest Mideast Waste-To-Power Plant
...y of solid waste. This is roughly 30% of Dubai’s daily requirement – Dubai Statistics Center says the municipality handled just over 7mn tons/day of solid waste in 2014. In a bid to reduce its waste handling problems, the UAE federal government has set a target for landfill to be reduced by 75% by...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Will Venezuela Join Libya & Nigeria In OPEC's ‘Long-Term Outage’ Club?
...ES, 10 June). Baker Hughes’ latest US rig count offers signs of hope. At 337, the number of active oil rigs remains almost 80% down on its October 2014 peak, but the number has risen in each of the past three weeks (see chart p16). Schlumberger’s Mr Schorn is cautiously optimistic. “Rig count le...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Libya: Progress Against IS Brings Internal Divisions Back To The Fore
...nuf terminal, both of which have been out of commission since December 2014. The re-opening of the two facilities, along with the 250,000-b/d export terminal along the coast at Zueitina, was to be the second phase in a production increase strategy beginning with the resumption of production from th...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016 -
Algeria Crisis Intensifies As Export Earnings Collapse
...placed. But, whoever is making the decisions, the scale of the challenge is daunting. The country’s export revenues were just $9.82bn in the first five months of 2016. This equates to $23.65bn on an annualized basis, down by 37% on 2015 and a whopping 62% on 2014 (see table). Not only are export ea...
Volume: 59Issue: 25Published at Fri, 24 Jun 2016