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Aramco Boosts Downstream, International Experience
...itish MD of Shell 1991-98, Chair 1998-2001 Andrew Gould British Chairman Schlumberger 2003-11, BG 2011-12 Amin Nasser Sa...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Algeria Slashes Oil & Gas Investment
...e first one in six years that stands a hope of being hit (see charts). ALGERIA: KEY OIL AND GAS STATS 2011 2012 20...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Libya Oil Output Set For Three Year High
...output cut of 1.2mn b/d agreed in Algiers in November 2016 (along with a 558,000 b/d production cut by non-Opec oil producers), which began on 1 January and was due to run until 30 June. Given that Libya’s output is still barely half the 1.6mn b/d it was producing prior to the 2011 revolution, it...
Volume: 60Issue: 21Published at Fri, 26 May 2017 -
Opec Output Cuts Extended But Market Relevance Wanes
...ters. Its production of around 280,000 b/d, minus some 10,000 b/d of cuts brings the implied Opec target to 32.05mn b/d. OPEC^ 2017 OIL EXPORT REVENUES SET TO FALL SHORT OF 2015 LEVELS ($BN) 2011 20...
Volume: 60Issue: 21Published at Fri, 26 May 2017 -
Tunisia: Key Gas Project Faces Further Delays As Unrest Grows
...ndane – a lack of investment. This has been due both to instability since the January 2011 revolution – instability in terms of uncertain terms and conditions as well as physical unrest – and, since mid-2014, lower oil and gas prices. Precisely zero new exploration permits have been awarded since the start of...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt Gas Boost Cuts Import Needs, But Self-Reliance Still A Distant Goal
...covery, with BP’s 1.5 tcf Atoll set to add a further 300mn cfd from mid 2018. But even with the Nooros and WND boost, Egyptian output is only back to early 2014 levels: it is still some 1bn cfd short of the near-6bn cfd average of 2011 and 2012 (see chart – the Nooros field which is in shallow water but dr...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt’s Petchems Boosted By New Gas – But Demand Also Rising
...r power and heat generation averaged 3.01bn cfd in 2016, equivalent to 74% of the total average gas production of 4.06bn cfd. The percentage of Egypt’s gas burned for power and heat generation has been rising sharply in recent years, from 45% in 2011, and the situation is likely to get worse since ga...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Neptune Goes Galactic With $5bn Engie Deal
...ey submitted a development plan in 2009 but nothing appears to have happened since, save Australia’s Woodside selling its 45% stake to the Libyan Investment Authority in 2011, with Engie taking over as operator the same year. Engie has several exploration concessions in the region, including in...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Pearl GTL: Shell Bullish But Gasifier Worries Linger
...laysia. Pearl, a test case of whether the ‘Bintulu’ technology is fully scalable, is a two-train plant. The first train was started up in early 2011 and the plant reached full commercial operation by the end of 2012. Pearl is Qatar’s second GTL plant. South Africa’s Sasol started up the $950mn, 32...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
UAE Finishes Building First Nuclear Plant, But Start-Up Delayed To 2018
...erating systems will be conducted at each stage of this process over a period of several months.” When Barakah-1 is brought online it will be the second nuclear power plant in the Mena region, following the start-up in 2011 of a 1GW plant built in Iran by Russia’s Rosatom. The Russian state firm is in...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Wins $1bn From SocGen, But Cases Highlight Shambolic Economic Governance
...nctions imposed on Libya in 2011. Ali Mahmud Hasan, who heads the LIA steering committee appointed by the GNA, has complained that the fund is losing money due to a lack of control over its equity and bond investments. But the unfreezing of the funds continues to be undermined by disputes over the le...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Investment Authority: A History Of Legal Wrangles
...rth $31mn, as the Libyan regime is prevented under sanctions from recovering unpaid debts. The LIA argues that as the debt pre-dated the imposition of sanctions in March 2011, it should not be subject to such restrictions. ...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
OPEC, Will It Have To Cut Deeper For Longer?
...) 2011 2012 2013 2014 2015 2016* vs’15% vs ‘12...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
South Sudan Looks Beyond Total For Block B
...uthern part of Sudan under the 2005 Comprehensive Peace Agreement. As the July 2011 independence of South Sudan approached, negotiations began to find a partner to replace US firm Marathon Oil, which had a 20% stake in block B until it withdrew in 2008 under the pressure of sanctions. Interest shown in...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Tunisia Gas Slump
...mpany adding that it did not envisage a near-term resolution to the shut-in which began 10 January. The company, previously known as Winstar, has been repeatedly hit by industrial unrest since Tunisia’s 2011 revolution (MEES, 28 May 2012). UK service firm Petrofac’s 30mn cfd-capacity Chergui field ha...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Algeria Charts New Economic Direction. Is It Battling Against The Tide?
...ll trade data). It is, however, notable that surpluses were already shrinking rapidly from the bumper $26.24bn notched up in 2011 even whilst oil prices remained at $100/B-plus as Algiers sought to use public largesse to counter fears of Arab Spring ‘contagion’. By the same token the fact that th...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Tunisia Bags $2.9bn Loan
...sinesses. . As the first country to usher in the Arab Spring in 2011, Tunisia is struggling to cope with the political and economic transition, as the tourism industry collapsed with terrorist attacks and the inflow of refugees from neighboring Libya. Since 2011 Tunisia has been an abundant source of supply of...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Egypt’s $25bn Russian Nuclear Loan Raises Questions Of Economics And Transparency
...shehr-1 1 1 3.5 Start-up 2011, operation intermittent until 2013 Bushehr-2,3 2 2 11 Rosatom to build for start-up 2023, 2025 UAE Barakah 5.6 4 20 Under construction by Kepco. All du...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Siemens Rolls Out First ‘Made In Ksa’ Gas Turbine
...Jazan on the Red Sea coast in the kingdom’s remote southwestern region. The turbine was built at the Siemens Dammam Energy Hub, which is the kingdom’s first gas turbine manufacturing plant and “the largest in the Middle East.” The plant was built under a 2011 agreement with Aramco and el...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Abu Dhabi Shakes Up Adnoc Management
...per Zakum field between 2007 and 2011, and graduated with a Masters in Petroleum Engineering from Imperial College London in 1995. He replaces ‘Ali Rashid al-Jarwan, who had held the post since 2006. The Adma concession expires in 2018 and the current partners are BP (14.67%), Total (13.33%), In...
Volume: 59Issue: 20Published at Fri, 20 May 2016