- Sort by:
- Score
- Published ▼
-
Egypt: New Deals Boost Gas Output, Oil Decline Continues
...the fourth quarter to be the highest of the year, and we anticipate exiting the year around 500mn cfd,” he adds. This in turn would be a two-year high if achieved, although still a far cry from the record 921mn cfd posted in 1Q 2014. While welcome news for Egypt, Apache’s gas gains are un...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Deadly Clashes Threaten Libya’s Short-Lived Stability
...nister Khalifa Abdelsadiq hailed the relative stability the country has witnessed in the past few years, stressing that Libya was “open for business,” with existing partners like Repsol and OMV, as well as Italy’s Eni, recently resuming drilling in Libya for the first time since 2014 (MEES, 28 Fe...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Aramco Steps Up Multi-Billion Dollar Refinery Upgrade Strategy
...erica and Asia, and in late 2014 a clean fuels upgrade program was completed which reduced the sulfur levels in gasoline and diesel by more than 98% to 10 parts per million (MEES, 2 January 2015). Aramco is looking to upgrade its domestic refining fleet as part of broader plans to boost its liquids-to...
Volume: 68Issue: 18Published at Fri, 16 May 2025 -
Gulf NOCs Tap Into World-Leading US LNG Sector
...amco in the race. Indeed, QatarEnergy was by far the earliest mover, having agreed in 2014 to convert its Golden Pass LNG import terminal (QatarEnergy 70%, ExxonMobil 30%) into an export terminal (MEES, 11 July 2014). More than a decade later, Qatar’s Minister of State for Energy Affairs Saad al-Ka...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Saudi Budget Deficit Swells To Largest Since 2021
...er the same period, despite capital investments falling by $1.8bn to a two-year low of $7.4bn. These all combined to push the budget deficit up to $15.7bn, which was the highest quarterly figure since 4Q 2021’s $18.2bn. Indeed, it is the worst start to the year since 2016, at the height of the 2014...
Volume: 68Issue: 19Published at Fri, 09 May 2025 -
Algeria’s First Bid Round In A Decade: Will It Be A Major Success?
...Algiers is close to wrapping up its first bid round since 2014. It hopes to attract some of the largest international players, including possible country entries for US majors Chevron & ExxonMobil, and a re-entry for BP, with Asian and Gulf NOCs also a strong possibility. But one of the co...
Volume: 68Issue: 18Published at Fri, 02 May 2025 -
Aramco Supplies US With Carbon-Offset Crude
...ble). The emissions were derived from a baseline assessment of operations between October 2022 and September 2023. The process was independently verified by London-headquartered LRQA. Aramco says that the offsetting is in accordance with PAS 2060:2014, which states that offsets compensate for gr...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
Iran Mourns Raisi & Abdollahian As Succession Speculation Mounts
...preme Leader, only the second in the Islamic Republic’s history after its founder Ayatollah Ruhollah Khomeini (1979-89) is rumored to be ill. He was treated for cancer in 2014. In recent years, he has grown weary of what he and others see as Western plans for regime change, increasingly throwing his we...
Volume: 67Issue: 21Published at Fri, 24 May 2024 -
Iraq: China’s Jereh Inks Mansuriya Contract
...e firm’s exit amidst the Islamic State’s rise in 2014. A subsequent award to Sinopec in 2021 also failed over similar disagreements. The contract comes as Chinese firms are further expanding their footprint in the country (see p2). ...
Volume: 67Issue: 21Published at Fri, 24 May 2024 -
Iraq Bidding: Chinese Firms Dominate
...gion’s rebounding oil output (see p5). In the upstream, it operates the Kurdish-controlled Khurmala dome portion of the giant Kirkuk oilfield and between 2014 and 2017 it controversially operated the field’s Avana Dome, and the nearby Bai Hasan field after Kurdish forces moved in claiming to secure th...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
Kuwait’s Emir Suspends Parliament;Can He Quell Tumultuous Divisions?
...ss a crucial debt law since 2017 due to opposition by MPs, these onerous spending commitments saw Kuwait rack up some $108bn in cumulative deficits over 2014-2022 (see chart 2). A 2024-2027 government program published earlier this year envisages a further surging of deficits to a colossal total of KD...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
Iraq Approves Mansuriya Gas Award
...riod. Mansuriya was originally awarded in 2011 to a consortium led by Turkey’s TPAO. Development was halted following attacks by the Islamic State across the province in 2014. Disagreement on commercial terms subsequently pushed Baghdad to take over the field in 2018 (MEES, 3 August 2018). Chinese state fi...
Volume: 67Issue: 18Published at Fri, 03 May 2024 -
Oman Achieves $1.17bn Surplus for Q1
...ffers to pay down debt.” 2022’s annual surplus of $2.98bn saw Oman end the run of 13 consecutive deficits stretching back to 2009 (MEES, 23 December 2022). The consecutive budget deficits meant debt levels have ballooned in recent years, especially after the 2014 oil price crash. Debt surged from 4....
Volume: 66Issue: 21Published at Fri, 26 May 2023 -
Gulf Rig Count Surges As Services Firms Eye More To Come
...WN ON 2014-2019 LEVELS 3: ABU DHABI’S RIG-COUNT HIT A 3-YR HIGH 56 FOR APRIL WITH THE 42 ONSHORE RIGS WITHIN FIVE OF 2019’S RECORD 4: QATAR HAS BEEN STEPPING UP GAS DRILLING AS NORTH FIELD EXPANSION WORK GATHERS PACE SOURCE: BAKER HUGHES. 5: KUWAIT’S RI...
Volume: 66Issue: 19Published at Fri, 12 May 2023 -
Tatneft Libya Find
...opped to two for much of 2022 with port and field shut-ins, relative stability in recent months has seen drilling activity bounce back with Baker Hughes recording 14 active rigs for April, within three of the post-revolution high of 17 hit in early 2014....
Volume: 66Issue: 19Published at Fri, 12 May 2023 -
Egypt Output Gains Threatened By Mounting Receivables
...erating costs with substantial drilling and investment needed just to keep output stable. As such, several firms suffered near death experiences (indeed, some went bust) when oil prices tanked in 2014-15 and again in 2020. Having not fully recovered from the previous slump, spending and drilling were sl...
Volume: 66Issue: 18Published at Fri, 05 May 2023 -
Iraq’s Summer Power Provision Hangs On Emergency Financing Law
...at her ministry is drawing up a 2022 budget. But it is not clear how that will pass when the government is powerless constitutionally and parliament is in no position to enact one on its own. Iraq has failed to pass budgets before in recent years. This occurred in 2014 as oil prices collapsed and la...
Volume: 65Issue: 21Published at Fri, 27 May 2022 -
Saudi Reaps Rewards Of Oil Price Boom
...a whole. The surge in oil prices following the Russian invasion of Ukraine in late February has caused Saudi monthly oil export revenues to jump above $30bn for the first time since 2014. The kingdom’s flagship Arab Light crude grade averaged $113/B in March amid the fallout from the conflict, pu...
Volume: 65Issue: 21Published at Fri, 27 May 2022 -
Oman’s Finances Surge To Largest Surplus In Eight Years
...Oman recorded a $923mn budget surplus for Q1 2022, the largest surplus since 1Q 2014. Oil exporters around the region are notching up multi-year high budget surpluses, but the move into the black is especially notable for Oman which was struggling to achieve budget surpluses even in the pr...
Volume: 65Issue: 21Published at Fri, 27 May 2022 -
UAE President Khalifa Bin Zayed Passes Away
...Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and ruler of Abu Dhabi, passed away on 13 May at the age of 73. Sheikh Khalifa had been president since November 2004 and was the eldest son of the UAE’s founder Sheikh Zayed bin Sultan Al Nahyan. Since suffering a stroke in January 2014...
Volume: 65Issue: 19Published at Fri, 13 May 2022