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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 -
QP, TotalEnergies Team Up Offshore Suriname
...out at the same level as ExxonMobil, Shell, ConocoPhillips, Total” (MEES, 8 December 2017). He subsequently added that “we want to be with the main players, we don’t see ourselves as a national oil company per se anymore, we look at ourselves as like any other IOC. We always say we want to be one of...
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 -
IEA Calls On Opec+ To Open The Taps In 2022
...tention turns to ending the production cuts. If they are unwound entirely then the market will be oversupplied, but with Opec+ having had some form of cuts in place for most of the period since January 2017, “cuts fatigue” will play a major role. 1: WHICH OPEC MEMBERS HAVE THE CAPACITY TO REGAIN BA...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Saudi Arabia Burning Record Oil Volumes
...ar. Crude oil burn is up year-on-year, but is broadly within historical norms. At 407,000 b/d in April, it was up by 52,000 b/d year-on-year to the highest April figure since 2017. For fuel oil meanwhile, consumption of 637,000 b/d was up nearly 100,000 b/d from 2020, to by far the biggest April fi...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
LNG Markets: Demand Robust As Prices Hit $12/mn btu
....4mn tons for 5M 2021. *Japan has been the top global LNG importer since the 1970s and was only topped by China for the first time ever on a monthly basis in November 2019 (MEES, 10 January). Having only overtaken South Korea for global number two spot in 2017, there is now a fair chance that Ch...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Iran Goes To The Polls, Or Not
...ads the judiciary and is a close ally of Supreme Leader Ayatollah Ali Khamenei. Mr Raisi also stood in the previous election in 2017 when he was soundly beaten by then incumbent Hassan Rohani (MEES, 26 May 2017). Four years of progressively-tightening sanctions under US President Trump tempered su...
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 -
Gulfsands Bullish On Syria Return As Key Russian Investor Consolidates Position
...nserving cash for potential Syria re-entry. Whilst Gulfsands says it has had no control over and received no revenue from its Syria assets since 2011, it was informed by Syrian state firm GPC that the Block 26 fields, having produced intermittently since 2014, “returned to regular production in January 2017...
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 -
Lukoil Taps Yamama At West Qurna-2
...iticized Baghdad’s “delayed decision making,” and the firm has been frustrated by the slow pace of progression towards developing its 2017 2.5bn barrel-plus Eridu discovery located in Block 10 (60% op, 40% Inpex: MEES, 3 March 2017). The find was dubbed Iraq’s “largest in decades” and Iraqi officials say th...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Qatar Gets Post-Embargo Boost As Exports To Saudi Resume
...fferences remain between the two sides, but no winners had emerged since the onset of the embargo on 5 June 2017 (MEES, 9 June 2017) and bringing an end to this public rift was ultimately a pragmatic decision. With the embargo having forced a reshaping of regional trade links, a return to the pre-2017 st...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021