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Energean Taps Cyprus For Israel Gas Exports
...ospects for Cyprus’ own 4.2tcf 2011 Aphrodite discovery. And Energean will struggle to meet even a modest sales commitment (especially from 2021) based on current reserves and development plans. The recent ‘Karish North’ discovery takes total recoverable reserves to around 3tcf (MEES, 19 April). Ho...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Shell’s Oman GTL Proposal: What’s Changed This Time Around?
...G) are aimed at developing the Gulf’s third gas-to-liquids (GTL) project, a surprising prospect given that the cost of Shell’s Pearl GTL plant in Qatar trebled from $6bn to $18.5bn between 2006 go-ahead and 2011 completion. Shell and Total are holding talks with MOG for a proposed $19bn in...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Iraq Edges Closer To Crucial Seawater Megaproject Deal
...eded for firms to hit their production plateau targets (PPT). In 2010 the oil ministry tapped ExxonMobil’s expertise for a multi-billion dollar Common Seawater Supply Project (CSSP), but the project subsequently fell prey to changing terms, failed negotiations, scandal as Exxon entered the KRG in 2011 (ME...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Total To Become Top Algeria Producer In $9bn Oxy Side Deal
...lling. The company’s only stake was 35% of the aging Tin Fouye Tabankort (TFT) wet gas field where output has fallen from a peak of 680mn cfd in 2011 to just 400mn cfd for 2017 – netting Total a measly 15,000 boe/d, three-quarters gas (MEES, 23 March 2018). But from that trough, the company’s Algeria ou...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
IOCs Face Mixed Picture In The Mena Upstream
...reseeable future. On the gas side of the equation, Total’s regional bets have not fared so well. Output edged up in 2018 to 810mn cfd thanks to the start-up of Algeria’s Timimoun project (see chart 2), but is well down on 2011’s peak of 1.46mn b/d. Wars in Syria and Yemen took their toll on Total’s po...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Tensions Flare As Turkey Drills Off Cyprus
...ach any sort of compromise, with the most recent summit in Switzerland in 2017, the last concerted efforts, failing to reach any sort of deal. Turkey has warned Cyprus about its own drilling activities to the south of the island and has been threatening since 2011, when Noble Energy discovered the 4....
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Iran Threat To Nuke Deal As Exports, Revenues Face Collapse
...ES, 30 November 2011), has been ramping up throughputs and is set to hit full capacity later this month, Reuters reports. But the fact that official Chinese data show overall record crude imports for April despite a heavy maintenance schedule, suggests that at least some of the bumper Iranian vo...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Syria: Oil Products Shortage Heightens Damascus ‘Post-War’ Challenges
...tbreak of war in 2011, and even with hostilities now at a relatively low ebb, economic hardships are continuing to take a massive toll. In particular, a shortage of oil products –gasoline, diesel, LPG and fuel oil – has triggered a nationwide crisis and the government in Damascus is scrambling to save fa...
Volume: 62Issue: 18Published at Fri, 03 May 2019 -
Sabic Boosts Transparency Ahead Of Aramco Takeover
...17 slump (see chart). Historical Sabic data does not break out fertilizers and metals before 2015. While total Sabic output reached a record 75.3mn tons in 2018, annual total production had hovered around the 70mn tons level during 2011-17 after regular annual growth previously. Last year Sa...
Volume: 62Issue: 18Published at Fri, 03 May 2019 -
Egypt Gas Output At Record Levels As Cairo Launches Bid Rounds
...l Minister Tarek El Molla said current output is running at 5.9bn cfd. Egypt’s output could in the coming months top the previous all-time high of 6.219bn cfd set in December 2011. Zohr is on course to reach output of 2bn cfd by end-2018 and full plateau output of 2.7bn cfd in 2019, Eni says. Zo...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
GCC Grid Increasingly Used For Power Trading, But Volumes Small
...nks between the six GCC member countries, reports increased use of its grid for electricity trading rather than only for exceptional transfers to prevent local supply outages. Although the GCCIA briefly experimented with trading in 2010 and 2011, it is only more recently that planned transfers of el...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
Egypt: Economic Gains Threatened By Record Import Bill
...bounded from 2015-16 terrorist attacks, which came as numbers were already depressed by instability in the wake of the February 2011 ‘Revolution’. Revenues of $2.2bn for 1Q 2018 are up almost 70% year-on-year, though arrivals remain well down on the immediate pre-Revolution year of 2010, when the country ea...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
Oman Eyes Ambitious Downstream Gas Projects With Total, Shell MOUs
...ke off globally despite initial optimism. However, no information regarding scale, cost or timeframe of any plant was offered. Qatar has been the technology’s biggest player; its 140,000 b/d Pearl GTL JV with Shell is a world-beater. But the $18bn plant has suffered several setbacks since 2011 st...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
UK Firm Gulfsands Vies To Outlast Syria Sanctions
...Dozens of foreign firms operated in Syria before 2011 sanctions. Most aren’t planning to return any time soon. But the existence of London-HQ’d Gulfsands depends on it. On 23 April, Gulfsands Petroleum finalized its decision to delist from London’s Alternative Investment Market (AIM) co...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Spain Crude Imports From Mena Countries* Hit 9-Year High In Q1: Iran At Highest Since 2011, With March’s 133,200 B/D A Monthly 7-Year High. Libya Volumes At All-Time Record Levels (‘000 B/D)
...*EXCLUDES OCCASIONAL SMALL HISTORICAL VOLUMES FROM TUNISIA (NONE SINCE 2015) AND SYRIA (TO 2011). SOURCE: CORES, MEES. ...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Qatar Plans For 2019 Drilling To Fuel Massive LNG Expansion
...equently had 5-6 operating up to mid-2018 as it was ramping up production capacity towards its current 77mn t/y, which was achieved in 2011 (MEES, 14 February 2011). QP’s drilling subsidiary Gulf Drilling International (GDI) has nine offshore rigs in total, of which three appear to currently be co...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Total’s Libya Expansion: The Plot Thickens
...the Libyan Revolution in early 2011 three projects were under appraisal which would double capacity to 600,000 b/d: development of the North Gialo field and the NC-98 concession would add 120,000 b/d and 80,000 b/d in crude output respectively. A Conoco 2010 analysts’ presentation, meanwhile, says th...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
South Sudan Coffers Empty Amid Crippling Crude ‘Diversions’ To Khartoum
...ss of three-quarters of its oil export revenue in the wake of South Sudan’s July 2011 independence. Compensation was to be paid at a rate of $15/B, implying total monthly payments of $24.1/B until the ‘transitional’ payments were cleared. BEHIND FROM THE START South Sudan fell behind with pa...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Output Slump, Revenue Slump
...tput, some 350,000 b/d for 3Q 2011. But output rapidly slumped. Output was shut in for 15 months from early 2012 as the result of a standoff with Sudan over access to the newly-independent country’s sole export route via Port Sudan. In March 2013, the two countries signed a deal on transit fees an...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Cyprus Exploration: Crunch Period Nears
...om drilling in Block 3 by Turkish warships (MEES, 16 February). This was the first time though that Turkey has managed to halt drilling offshore Cyprus since 2011. The likelihood that it would block drilling in Block 10 is lower: both due to the relative diplomatic strength of the US and Italy, an...
Volume: 61Issue: 18Published at Fri, 04 May 2018