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Cyprus: New Energy Minister
...major ExxonMobil is also eying further drilling in its Block 5 and 10 acreage this year following disappointing results from last year’s appraisal well of 2019’s Glaucus discovery on Block 10 (MEES, 10 February). The priority though will be the decision regarding Cyprus’ first gas discovery, 2011...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Tunisia Cuts Interest Rate, Delays Loan Payments
...In a bid to lessen the economic impact of the global coronavirus pandemic, Tunisia’s central bank on 17 March cut its key interest rate by 100 basis points to 6.75% - its first cut since 2011. The bank also said businesses would be able to defer payment of loans by six months and access new on...
Volume: 62Issue: 13Published at Fri, 20 Mar 2020 -
Egypt Refiners Hit New Highs
...tput (MEES, 24 January). Jet-kero output was a record 68,000 b/d in January, while at 173,000 b/d diesel was the highest since July 2011. Gasoline output was 98,000 b/d, down from December’s all-time high 103,000 b/d, while 87,000 b/d of naphtha was the highest monthly level since August 2017 (see ch...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
Libya’s Oil Continues Its Fall
...west since the 2011 revolution (MEES, 6 March). Mr Haftar is attempting to starve the Tripoli-based government of vital oil revenues in support of his war to take over the capital (MEES, 14 February). The blockade of five eastern oil terminals has brought production from the key Sirte basin fields do...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020 -
Libya Output Lowest Since 2011
...Libya Output Lowest Since 2011 Amid ongoing oil blockades imposed by eastern-based General Khalifa Haftar, Libya’s February crude output at 120,000 b/d came in at its lowest level since the 2011 revolution that overthrew long-time leader Muammar Gaddafi (see chart). The blockades have re...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Algeria Oil Project Delayed
...y investment efforts in recent years have focused on EOR at the country’s ageing workhorse Hassi Messaoud field. PTT (24.5%op), China’s CNOOC (24.5%) and Sonatrach (51%) were awarded the Hassi Bir Rekaiz block in 2010, firming-up previously-made discoveries (MEES, 28 July 1997) with a 2011-13 dr...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019