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Libya Slams Greek Hydrocarbons Tender Amid Maritime Border Dispute
...vereign rights in 2014.” CALL FOR TENDERS On 12 June, the European Union’s official journal published a notice from Greece announcing an international call for tenders for “the exploration and exploitation of hydrocarbons in maritime areas” including Blocks “South of Crete 1” and “South of...
Volume: 68Issue: 26Published at Fri, 27 Jun 2025 -
European Majors And New Entrants Secure Key Algeria Blocks In ‘Successful’ Bid Round
...untry’s influence within Opec+. Algeria produced 1.145mn b/d of crude oil in 2014 (see chart 1), but the subsequent collapse in oil prices led to a reduction in oil sector investment and capacity has dwindled ever since. According to the IEA’s latest medium-term outlook, Oil 2025, production capacity st...
Volume: 68Issue: 25Published at Fri, 20 Jun 2025 -
Trade In The Med: More Hubs, New Ship-to-Ship Zones
...prus’ rise as a regional gasoline blending hub via its 545,000 m3 (3.4mn barrel) VTTV storage facility at Vasiliko. Vitol, which owns 45% of VTTI alongside IFM Investors (45%) and Adnoc (10%), heavily touted VTTV’s potential when it first began operating in 2014 (MEES, 31 October 2014). But it’s taken th...
Volume: 68Issue: 24Published at Fri, 13 Jun 2025 -
Algeria-Spain Spat Leaves 1.26GW Power Plant In Limbo
...lguera,” adding that it is now seeking “a definitive solution for all parties.” The project was originally awarded back in 2014 at a price tag of $719mn (MEES, 7 March 2014), with civil works completed by end-2016 (MEES, 15 September 2017). Satellite imagery indicates that substantial work has taken pl...
Volume: 67Issue: 26Published at Fri, 28 Jun 2024 -
Cairo Advances Subsidy Cuts But Will They Outpace Inflation?
...nth, as the government announced the new bread prices, PM Moustafa Madbouly said that the Electricity Ministry was developing a plan to completely phase out electricity subsidies over the coming four years, the latest in a series of extensions since the initial plan was set out in 2014 (MEES, 24 Oc...
Volume: 67Issue: 26Published at Fri, 28 Jun 2024 -
Iraq Looks To Transform Export Options With $5bn South-North Pipeline Reboot
...e first phase of the planned Iraq-Jordan Export Pipeline project, alongside a second phase 800,000 b/d pipeline from Haditha to Jordan’s Red Sea port of Aqaba (MEES, 14 September 2012). That project was derailed by the Islamic State’s takeover of large swathes of Iraq in 2014, including most of An...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Chevron Inches Towards Shale-Focused Algeria Entry
...at with Chevron, was the site of Algeria’s first trial shale well back in 2014. Whilst the initial well produced “excellent reserves,” shale plans were abandoned in the face of subsequent protests (MEES, 23 January 2015). Sonatrach’s MoU with Exxon also references “study[ing] the existing op...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Powering The UAE’s Northern Emirates
...ectricity which was equivalent to around 50% of consumption, but this slumped to just 399GWh in 2014 before eventually ceasing during 2021 (see chart 1). At the same time, electricity consumption in the northern emirates has been rising sharply since the Covid-19 pandemic. Having largely plateaued at ar...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Libya: SLB’s Quit Threat Could Send Output Gains Into Reverse
...talEnergies of France. This was for a three-year contract to deploy an “express” early production facility (EPF) at the Sirte Basin’s Mabruk field which has been shut-in since surface facilities were badly damaged by Islamic State-affiliated militants in December 2014 (MEES, 6 March 2015). SLB says the Ma...
Volume: 67Issue: 24Published at Fri, 14 Jun 2024 -
Iraq: Another New Gas-Focused Bid Round – Can It Attract Major Interest?
...curity in western Iraq is still a concern despite the threat from Islamic State having been much diminished in recent years. In 2014, Anbar fell to the group with little to no resistance from government forces and whether Baghdad wants to admit it or not, this will be a major consideration for IOCs po...
Volume: 66Issue: 25Published at Fri, 23 Jun 2023 -
BP & Adnoc’s Landmark NewMed Deal: Testing the Water or Troubled Waters?
...structive, it could potentially damage relationships and credibility with existing key partner Chevron as well as with prospective partners as BP and Adnoc. “Look at what happened in prior Delek negotiations with how close they came with [a $2.5bn, 2014 deal to sell 25% of Leviathan to Australia’s] Wo...
Volume: 66Issue: 23Published at Fri, 09 Jun 2023 -
China: Could Record Russian Crude Imports See Saudi Squeezed?
...creased market share. MIDEAST BUYING FIRM FOR NOW… Chinese imports from other Middle East suppliers also remained firm through May: at 54.1% the Mideast market share for the first five months of 2022 is on track to top the previous annual record of 52.2% set in 2014. Number three ov...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
China LNG Buying Subdued But Qatar Volumes Surge & Revenues Triple
...lumes. The import bill for Qatar volumes was up almost threefold at $4.30bn versus $1.52bn for the year-ago period. Qatar’s overall export revenues of $28.6bn for Q1 were the highest since 2014 (MEES, 29 April) *Whilst China’s fall in year-on-year import s is down to Covid-related lockdowns as we...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
KRG Hands Baghdad Oil Sector Counter-Proposal
...OGC) “which will be tasked with the exploration, extraction and production of oil and gas” and the Kurdistan Organization for the Marketing of Oil (KOMO). These entities have already been created, with KOMO marketing Iraqi Kurdistan’s inaugural independent exports – a 2mn barrel cargo – back in 2014...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Qatar Gas Exports Surge To Five Year High
...2022 they remain slightly down year-on-year. Even if its core gas exports have dipped slightly this year, soaring commodities prices have pushed Qatar’s export revenues up to multi-year highs of late, with Q1’s $28.51bn the highest quarterly figure since 3Q 2014 (MEES, 3 June). Revenues are up ac...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Libya Oil Blockades: Back With A Vengeance
...ter the capital (MEES, 20 May). The division in the country, roughly split between eastern and western lines, is eerily looking like the period between 2014 and 2020 when parallel administrations in Tripoli and the east competed for power. That period was particularly tumultuous with oil pr...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
Oman LNG Bounces Back Following Maintenance Work
...ll below the peaks achieved in 2013 before hydrocarbon prices collapsed in the second half of 2014 (see chart). Oman LNG’s financial performance rebounded from 2020’s Covid-lows last year, and strong gains this year could push revenues well above 2018’s recent highs of $3.51bn. Topping 2014’s $4....
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
TotalEnergies First Again With Qatar LNG Expansion Deal
...ont, TotalEnergies’ Mena push has been paying dividends. Since 2014, the firm has overtaken Eni, Shell and ExxonMobil as the largest oil producer among IOCs in the Mena region (see chart 1). TotalEnergies’ willingness to take on political risk stands in contrast to other majors, most of whom have been sl...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
Morocco’s Samir Refinery: Is There A Case For A Restart?
...wards trend save for a Covid related blip in 2020. Total products demand recovered to near record levels of above 290,000 b/d last year. Diesel imports, a fuel globally in high demand, for example hit a record 126,000 b/d in 2021 (see chart 1). In its last full year of operations in 2014, Samir pr...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
Tehran & Baku Agree To Double Gas Swap
...anian gas grid, near the Caspian Sea port of Neka (see map). In the past Iran had turned a profit from importing gas from Turkmenistan at a much lower price than it received from exports to Turkey (MEES, 3 October 2014). Another consideration beyond logistics, is that Iran’s own demand for gas – es...
Volume: 65Issue: 23Published at Fri, 10 Jun 2022