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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 -
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 -
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 -
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 -
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 -
Iraq Unveils Optimistic Production Capacity Targets
...e planned production targets (PPT) at key fields were being revised down. For instance Iraq’s biggest field – the 1.45mn b/d capacity Rumaila (BECL: BP 47.63%, CNPC 46.37%, Somo 5%) – has had its PPT revised down from 2.85mn b/d to 2.1mn b/d in 2014 and then down to just 1.7mn b/d last year (ME...
Volume: 65Issue: 22Published at Fri, 03 Jun 2022 -
Libya’s NOC Plans Massive Upstream Opening
...timism. An October 2020 ceasefire between previously warring eastern and western forces has held, the country has a unified government for the first time since 2014 and preparations for nationwide elections in December are underway. But the peace process is extremely fragile (MEES, 4 June). “We are ve...
Volume: 64Issue: 23Published at Fri, 11 Jun 2021 -
Eni In Algeria: Looking For Growth
...Eni’s net Algeria output has steadily fallen since a peak in 2014, but recent moves by the Italian major look set to reverse this trend. The potential acquisition of sizeable BP assets would nearly double Eni’s net Algeria gas output. As many international oil companies have shunned Al...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Libya’s Oil Revenues Surge
...nthly numbers of Libya’s crude oil production have been pretty much non-existent for the past six years. But with the arrival of a new unity government in March, which includes an oil minister for the first time since 2014, Libya has begun to submit monthly production stats to Opec. Official figures pu...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
IEA Backs Saudi Arabia To Lead Mena Gas Supply Push
...anned start-up date of 2014 (MEES, 12 October 2012) and is currently due online this year. Recent delays have been down to problems with the offshore pipeline. As for Iran, despite being subject to stringent US sanctions, it is still advancing the development of its South Pars gas field. Mohammad Me...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
Iraq Fights For Survival Amid Growing Pressure To Slash Oil Output
...the 6 June meeting, is for Baghdad to reduce crude output month-by-month in order to produce under its quota in August-September to make up for May-July overproduction. This would ultimately bring Iraqi output to 3-3.5mn b/d, its lowest since 2014. Needless-to-say such a scenario is difficult to im...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
Egypt-Israel Settlement Paves Way For Groundbreaking Gas Shipments
...om the already-producing 11tcf Tamar field (MEES, 23 February 2018). Dolphinus was founded in 2014 by Egyptian businessmen including Khaled Abu Bakr, former CEO of Egyptian power firm Taqa Arabia and current Executive Chairman of the Egyptian Gas Association (MEES, 5 April 2019). POLITICAL BA...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Egypt Gas: Nour Disappoints
...erated West Delta Deep Marine (WDDM) field, where output collapsed from 1.3bn cfd in late 2013 to just 250mn cfd currently, due to Cairo’s demand for more gas (MEES, 7 February 2014). ...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Iraq Crude Output Gets Pipeline Repair Boost
...om the current 200,000 b/d. Daura is the second largest operational Iraqi refinery after the 210,000 b/d Basra refinery – following the destruction of the 310,000 b/d Baiji plant by the Islamic State (IS) in 2014. The government is working on rehabilitating Baiji, but progress is slow. The re...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Qatar Embargo One Year On: Anatomy Of Resistance
...NDENSATE HAVE REBOUNDED FROM 2Q 2017 LOWS (‘000 B/D) *ESTIMATE BASED ON ANNUAL IMPORTS FOR CHINA 1Q 2013 - 2Q 2014. SOURCE: IMPORT STATS, MEES....
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Bahrain Takes $300mn Oil Revenue Hit From Abu Safah Outage
...oduction edged up to a record 2.08bn cfd in 2017, beating 2015’s previous high of 2.06bn cfd. However, gas re-injection rose 6% to a new high of 600mn cfd, reducing the volumes of sales gas to 1.47bn cfd – below 2014’s 1.50bn cfd record. That gas reinjection levels rose to a new high despite a no...
Volume: 61Issue: 22Published at Fri, 01 Jun 2018 -
Delek Looks To Raise $1.2bn With Tamar Sell-Off
...rael’s key offshore fields. A December 2014 anti-trust ruling (MEES, 2 January 2015) was subsequently watered down, but even so operator Noble has to reduce its stake in Tamar to 25% by end-2021, with Delek required to completely dispose of its stake by the same date (MEES, 1 April 2016). HOLDING ST...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
US Shale Output Soars But Permian Productivity Falling
...oductivity metric has fallen for every month since, to 627 in May and a projected 617 and 602 in June and July respectively. The latter figure would take productivity back to numbers last seen in March 2016, though it remains at three times 2014 levels. Of course the Permian ‘rig count’ continues to ri...
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