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Gas In The Gulf: Cooperation Is Limited
...om Iran. This resulted in a significant increase in reported flows that month (see chart 3). Since 2017, Iran has also exported gas to Iraq through two pipelines, but flows have become increasingly unreliable due to Iran’s own gas shortages as domestic demand has increased. Exports to Iraq peaked at...
Volume: 68Issue: 24Published at Fri, 13 Jun 2025 -
Egypt Drilling At 2-Year Low As Oil & Gas Output Continue Downward Spiral
...vestment (MEES, 10 May) – Egypt’s overall April output of 5.115bn cfd was the lowest since November 2017, that is to say just before Zohr start-up. *The output slump has left Egypt in acute gas deficit and the country reliant on imports from Israel (see column). As such a 10-day shutdown to 1.1bn cf...
Volume: 67Issue: 24Published at Fri, 14 Jun 2024 -
Chevron Looks To Smash Egypt’s Gas Price Ceiling
...i managed to break the price ceiling when in 2017 it secured a Brent crude-linked pricing formula for Zohr with prices rising to a ceiling price of $6.20/mn BTU when the crude benchmark is at or above $70/B. It drops to $4.30/mn BTU when Brent is at or below $40/B. The first project to secure th...
Volume: 67Issue: 23Published at Fri, 07 Jun 2024 -
Iraq’s Hoped-For Opec Quota Boost Slips Away
...ES, 10 March 2017). Even if Iraq were to succeed with this, it could backfire given that its current quota is based on state-wide production inclusive of Kurdistan, and so would be revised down in such a scenario. Last month, Oil Minister Hayan Abdulghani said that his country “was not allocated it...
Volume: 67Issue: 23Published at Fri, 07 Jun 2024 -
Oman’s New Energy Minister: Bumper Revenues, Longer-Term Challenges
...oofing the energy sector and broader economy. For Oman, gas is key to this ambition with the 2017 start-up of the Khazzan tight gas play unlocking a bonanza of increased production and development plans (MEES, 12 April 2019). Gas has long been touted as a ‘transition fuel’ and Oman is debottlenecking it...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Kuwait Set For Virgin Offshore Well
...ng-delayed offshore exploration drilling program will be a major development for the emirate. Upstream activity outside of the PNZ is conducted by state firm Kuwait Oil Company (KOC), but capacity has dropped from 3.15mn b/d in 2017/18 to just 2.63mn b/d for 2020/21. KOC aims to increase this to 3....
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Oman LNG Bounces Back Following Maintenance Work
...mpletely changed the supply picture when it started up in 2017 (MEES, 29 September 2017). The 500mn cfd second phase Ghazeer came online in October 2020 (MEES, 16 October 2020), while the likes of Shell, Total and Eni have all taken up Khazzan-like acreage in recent years in a bid to replicate BP’s su...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
KRG Oil Sector In The Crosshairs As Baghdad Steps Up Legal Attacks
...ports around 100,000 b/d (MEES, 15 April) to Turkey’s Ceyhan Port via a KRG-controlled pipeline. Prior to being reclaimed by federal forces in 2017, the KRG took over most operations in Kirkuk for almost three years. On the dynamics of a potential arbitration between Baghdad and the IOCs, Shwan Zu...
Volume: 65Issue: 23Published at Fri, 10 Jun 2022 -
Tehran & Baku Agree To Double Gas Swap
...lume agreed upon last year (MEES, 3 December 2021). Mr Owji also claims that his country could even “easily” increase the amount swapped to “three or four times.” The original deal announced on 29 November 2021 ended a five-year hiatus in Iranian imports of Turkmen gas. Iran in early 2017 an...
Volume: 65Issue: 23Published at Fri, 10 Jun 2022 -
Tethys Banks On Oman Knowledge To Develop Hidden Gems
...19). Starting in 2017, Tethys made the jump into becoming an operator in its own right in Oman, snapping up Block 49 on the Saudi border (MEES, 24 November 2017). In 2019 it acquired a 20% stake in Block 56 on the south east coast of Oman (MEES, 1 November 2019) and last year it acquired a further 45% in...
Volume: 64Issue: 25Published at Fri, 25 Jun 2021 -
Baghdad Wary That BP Is Looking To Exit Iraq
...mpany (BOC) does not hold a share of ROO, it is contractually the owner of the field. Since 2017, BOC has seconded almost 5,800 employees to ROO. ROO plays a huge role in Basra’s economy, and employs 22,000 people “via contractors who support Rumaila’s activities through a large supply chain” according to...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Gulf Keystone Provides Timely Boost To KRG Oil Sector
...ich is supplemented by a heavier 250 meter column of 14-22°API crude (MEES, 10 March 2017). Shamaran’s latest presentation says that the firm expects to “generate quarter-on-quarter production growth with increasing contribution of heavy oil.” OUTPUT GETS HEAVIER The KRG has been de...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Iraq: Qayara Restarts With 10,000 B/D Trucked To Kirkuk Refinery
...st $2/B (MEES, 11 September 2020). The difficult-to-handle grade was also blamed for inflicting infrastructure damage. With the nearby 14,000 b/d Qayara Refinery offline since March according to local media, output is most probably being trucked to the 56,000 b/d Kirkuk Refinery partly refurbished in 2017...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Egypt’s Zohr Struggles With Water Breakthrough
...er the years proved the rule more than the exception for fields in Egypt’s Mediterranean deepwater. ‘Exhibit A’ in this regard is BP’s $9bn West Nile Delta project. By the time the ‘Phase 3’ Raven field came online in April output from Phases 1 and 2 – which only started up in 2017 and 2019 re...
Volume: 64Issue: 23Published at Fri, 11 Jun 2021 -
Libya’s Oil Revenues Surge
...force intended to display his willingness to fight unless his interests are not catered for in the emerging political landscape. He is not the only one worried. LIBYA'S OIL REVENUES* SOAR ON THE BACK OF 1MN B/D-PLUS EXPORTS THIS YEAR *CBL 'OIL REVENUE' NUMBERS USED BETWEEN 2011 & 2017...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Algeria Oil & Gas: Searching for Stability
...lding sway in the sector. For example, Chakib Khelil was unquestionably the oil supremo when he was energy minister from 1999 to 2010. But the Sonatrach CEO was the man to call when the industrious Abdelmoumen Ould Kaddour headed the state-oil giant between 2017-2019 (MEES, 26 April 2019). Sonatrach is...
Volume: 63Issue: 26Published at Fri, 26 Jun 2020 -
Saudi Arabia Gas: New Facilities, Greater Flexibility
...ming years, with work underway to add substantial gains through a mix of associated and non-associated gas processing capacity. First up is the Hawiyah Gas Plant Expansion Project. Contracts were awarded in 2017 to add 1.07bn cfd processing capacity, which will bring capacity up to 3.86bn cfd by Ju...
Volume: 63Issue: 26Published at Fri, 26 Jun 2020 -
Iraq Fights For Survival Amid Growing Pressure To Slash Oil Output
...severe underinvestment. Iraq is certainly in dire need of revenues, and as last year’s protests showed, the state of social services is a life-or-death matter (MEES, 8 November 2019). On the other hand, Iraq’s situation did improve considerably over 2017-19, with oil revenues up and the Is...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
New Iraqi Oil Minister Inherits A Sector In Flux
...mense challenges facing the country. 46-year-old Ihsan Ismaael takes over as Oil Minister replacing the veteran Thamir Ghadhban, and looks to be a strong choice to oversee Iraq’s all-important oil and gas industry. As former Basra Oil Company (BOC) Director General (2017-2020), Mr Ismaael was a cl...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
Oman Condensate Output At Record Highs
...quids output, the share of condensate continues to grow. Condensate output over the first five months of 2019 is running at a record high of 115,000 b/d, up from 2018’s annual record of 107,000 b/d and 2017’s 86,000 b/d. Conversely, at 856,000 b/d for January-May, crude output is on track for a five-ye...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019