- Sort by:
- Score
- Published ▼
-
Algeria’s Sonatrach Halves Planned 2020 Spending
...ss cash to spend. This is truer this time around than the 2014 oil price crash when Algeria had a record $195bn in foreign reserves saved for a rainy day (MEES, 7 February). Algeria has been rapidly drawing this down as if recent years were as bad as things could get – by the end of 2019 reserves we...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Egypt Gas Burn Falls Despite Powergen Record
...el, although the fact that most of Egypt’s gas turbines can also burn HFO means that some of these plants burnt liquid fuel at times during 2014-17 when gas was scarce. Egypt also has 1.87GW or 3.3% of capacity for which light fuel oil (mainly diesel) is the primary fuel. These are mainly older pl...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
Egypt Refiners Hit New Highs
...e lowest since February 2014. Products demand fell to 662,000 b/d for January, the lowest since July 2018. For 2019 as a whole, demand fell to a 10-year low 694,000 b/d. Egypt’s refiners processed a record 275,000 b/d of imported crude in January, helping to counter stagnating local production. Cr...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
Asian LNG Prices ($/Mn Btu): Have Spot Prices Bottomed Out?
...JAPAN SPOT PRICES FALL TO RECORD LOW^, QATAR SALES TO KOREA STILL EARNED THREE TIMES THE SPOT PRICE IN FEBRUARY BUT TERM PRICES ARE SET TO TUMBLE IN LINE WITH OIL *AVERAGE OF REUTERS WEEKLY ASSESSMENTS FOR THE DELIVERY MONTH IN QUESTION. ^SINCE ASSESSMENTS BEGAN IN MARCH 2014. ALL DA...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
US Shale In The Time Of Lower Prices
...e heir to former Saudi oil minister Ali Naimi’s 2014-16 strategy of focusing on market share at the expense of price (MEES, 19 December 2014) Having been abandoned in late 2016 (MEES, 2 December 2016) this strategy was subsequently branded a failure. But it certainly succeeded in keeping US ou...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020 -
Oil Price Crash Puts Vulnerable Mena Economies At Even Greater Risk
...st – whose economies have never truly recovered from the late 2014 price-downturn – the economic and political implications of a prolonged price depression could be catastrophic. To be sure, the key Gulf monarchies of Saudi Arabia, the UAE, Kuwait and Qatar are robust enough to withstand a short-te...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020 -
Egypt Eyes Long-Awaited Oil Output Hike As Apache Plans Capex Boost
...en immune to the decline. The company slashed Egypt capex in the wake of the late-2014 oil price collapse: by 2016 spending of $477mn was just 35% of the 2014 figure. And the 2019 spend was lower still at $465mn, though at least lower costs mean that Apache got more wells for its buck (75 vs 60 for 20...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Algeria’s Hassi Messaoud Gets Boost, More To Come
...ude output, which came in at 1.03mn b/d for 2019 and 1.01mn b/d in February (see p9). Like most projects in Algeria, the new compression and reinjection facilities have been dogged by delays. Awarded in June 2014 to Dubai-based Dodsal Engineering, the AD50bn ($635mn) project initially had a 36...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Gas Project Set To Hike Eni’s Algeria Output
...mpany has a chance of topping its Algeria output record of 109,000 boe/d set in 2014. For 2018, the latest available data, Eni’s net Algeria production was 85,000 boe/d. But this still might not be enough to prevent the Italian firm from losing its No.1 foreign producer crown to Total, though this is...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
US Output:2019 Sees Slew Of Records But 2020 Forecasts Scaled Back
....23mn b/d for 2019, some 1mn b/d ahead of number two Russia (MEES, 3 January), with Saudi Arabia on 9.75mn b/d in distant third spot. The 1.24mn b/d (11.3%) of output gains that US producers notched up in 2019 were the third highest on record, behind 2018’s phenomenal 1.64mn b/d rise and 2014’s 1....
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Chevron Downplays PNZ Ramp-Up…
...vels prior to the shut in of the offshore Khafji field in 2014 and onshore Wafra in 2015. But US major Chevron, which operates the Saudi portion of the Wafra field, is much less bullish. The major, in the operations supplement to its 2019 annual report released this week, says it expects “ramp up to...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020