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Libya’s 2019 Budget: Fact or Fiction?
...Muammar Gaddafi in 2011 and the ensuing violence. As if Mr Sanalla didn’t have enough on his plate, the budget only allocates around LD1.3bn ($935mn) for NOC employee wages (see table). Oil workers argue that the government was supposed to grant them a 67% increase in wages in line with a 2013 go...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Saudi Liquids Burn Edges Up, More Rises To Come?
...eir lowest level since March 2014. Products imports were down across the board, with the kingdom importing no diesel for the first time since January 2011. The upshot was that net-products exports were just shy of December’s record at 1.34mn b/d. And net diesel exports were at an all time high of...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019 -
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 -
Spain 2018 Gas Imports: Record 19.5bcm From Algeria But Volumes Slide In Q4
...LF OF 2018: Q4 VOLUMES WERE THE LOWEST SINCE 2011...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019 -
Egypt Close To Tapping Aphrodite
...Egypt’s parliament this week passed a law approving the construction of a pipeline from Cyprus’ economic waters, clearing the path for the development of the Mediterranean island’s 4.2tcf December 2011 Aphrodite discovery. MEES understands operator Noble Energy is close to concluding a de...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Egypt Launches Red Sea Bidding
...l in 1908 and source of 239,000 b/d of 2018 output. Most recently US firm Hess drilled a dry well in April 2011 on the Cherry prospect in 700ms water depth on its North Red Sea block which includes acreage in new Blocks 1, 2 and 3. At the time Hess said it was targeting “a potential extension of Gu...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Shell Boosts Egypt Gas Output, Retains LNG Force Majeure
...gas (2.45bcm) for 2018, a five-year high. This is little more than a quarter of 2011 volumes, Shell Egypt country manager Gasser Hanter told MEES in Cairo in February that the firm expects to export 30 LNG cargoes in 2019 after exporting 22 in 2018. SHELL NET EGYPT GAS OUTPUT ROSE LAST YEAR FO...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Lebanon Power Overhaul Gathers Pace
...e table 1) are crucial to boosting growth from the average 1.6% annual GDP growth since 2011. With the world’s third-highest debt-to-GDP ratio (150%), the government is otherwise broke and unable to break the low-investment low-growth cycle that has long plagued it, especially since the 2011 ou...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Algeria’s Regime Under Threat
...volvement in day-to-day government is negligible. Protests against the regime are nothing new. Algerian citizens took to the streets in early 2011 against a backdrop of regime change in neighboring states. They did so again ahead of presidential elections in April 2014, when protestors chanted ‘Ba...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Exxon Makes ‘World Class’ Cyprus Discovery
...US major ExxonMobil has discovered 5-8tcf of gas on Cyprus offshore Block 10, the third significant gas discovery made off the Mediterranean island since 2011. But there is still no clear route for any of those fields to be developed. The announcement this week by US major ExxonMobil (60...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
Abu Dhabi’s Shah Field Central To Adnoc’s Gas Expansion Strategy
...our stakeholders” says Mr Nasri. This is a far cry from the project’s early days when estimated production costs were a much higher $4-6/mn BTU (MEES, 6 June 2011). SHAH SOUR GAS FIELD SALES GAS OUTPUT* HITS NEW HIGHS IN SECOND HALF OF 2018 (MN CFD) *IMPLIED FROM OXY’S REPORTED NET VO...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019