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KRG Signs US Firms Up To New Gas Development Contracts
...rchased by US Crest Energy International in 2017 and taken private (MEES, 2 June 2017). “I’m very pleased to be here again back in Washington, especially to witness and monitor the signing of these two very important deals. Both companies, HKN and WesternZagros, have been operating in Kurdistan for ma...
Volume: 68Issue: 21Published at Fri, 23 May 2025 -
Can Iran’s Nuclear Power Program Offset Surging Consumption?
...om their 20GW plan, Iran will be lucky to hit 10% of that mark. According to the International Atomic Energy Agency (IAEA), the only other plant currently under construction in Iran is the 915MW Bushehr-2 plant. Construction began in 2017 with Russian state firm Rosatom at the helm (MEES, 31 Ma...
Volume: 68Issue: 21Published at Fri, 23 May 2025 -
Trump Offers Syria ‘Chance At Greatness,’ Pledges To Remove US Sanctions
...000 b/d of oil and suffered massive damage when ‘Islamic State’ fighters targeted its 88mn cfd capacity processing plant (MEES, 29 September 2017). It was subsequently repaired and operated by GPC, but that also begs the question as to whether the current government would be keen to hand it back. PR...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Aramco Steps Up Multi-Billion Dollar Refinery Upgrade Strategy
...line next year. Now, Aramco is once again examining whether to integrate petrochemicals into its wholly-owned 635,000 b/d Motiva refinery at Port Arthur in the US. Previously operated by the 50:50 Motiva JV with Shell, Aramco took full control of the refinery in 2017 (MEES, 10 March 2017). Mr Na...
Volume: 68Issue: 18Published at Fri, 16 May 2025 -
Will Increased Saudi Oil Production Translate Into Higher Summer Exports?
...cle US shale activity could have a material impact on global balances, creating space for increased volumes from Saudi Arabia and its fellow Opec+ producers. 1: SAUDI CRUDE BURN HAS STARTED THE YEAR AT THE LOWEST LEVEL SINCE 2017 (‘000 B/D) SOURCE: JODI, MEES. 2: HOW WILL PR...
Volume: 68Issue: 19Published at Fri, 09 May 2025 -
Kuwait’s Extends Shell’s Key Upstream Role
...SA, which runs for 10 years (MEES, 21 March). There have been no subsequent ETSAs awarded, despite previous plans to award new contracts for heavy oil development (MEES, 2 June 2017) and for West Kuwait (MEES, 20 April 2018). Plans to develop a new contract model have also yet to reach fruition (ME...
Volume: 68Issue: 18Published at Fri, 02 May 2025 -
Iran Revives 4mn B/D Production Target
...As key Opec members meet this weekend to decide whether to extend their ‘voluntary cuts’ into the second half of the year (see p9), Iran will as always cast its support from the sidelines. The country has essentially been exempt from cuts ever since Opec+ cuts began in January 2017, while ev...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
First Oil Export From UAE’s Belbazem
...velopment of Bu Haseer’s modest reserves economical, and Al Yasat has pursued a similar approach with Belbazem (MEES, 28 May). Outside of Al Yasat, CNPC is also present at Abu Dhabi’s largest concession, the 2mn+ b/d Adnoc Onshore concession. CNPC was awarded an 8% stake at Adnoc Onshore in 2017, ce...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
Sudan’s Army Turns To Russia For Weapons In Exchange For Naval ‘Supply Point’
...stored diplomatic relations with Sudan (under the SAF), having severed ties under President Bashir in 2016, when Khartoum sided with Riyadh following an attack on the Saudi embassy in Tehran, and later deployed troops to join the Saudi-led coalition fighting the Houthis in Yemen (MEES, 20 January 2017...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
Iraq Bidding: Shell & Adnoc Locked Out By Inflexible Criteria
...ar, the firm declared commerciality on its 2017 Eridu discovery on Block 10 in nearby Dhi Qar province (MEES, 10 March 2023) with plans for 30,000 b/d pilot production in 2027. Reaching that milestone took two years after submitting a development proposal, leaving Lukoil and its Japanese partner Inpex di...
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 -
Rising Kurdistan Oil Production Gives Iraq Opec Headache
...mmitments (MEES, 10 March 2017). The collapse of Kurdistan production in mid-2023 had been a boon for Baghdad, which swiftly increased its directly-controlled crude exports from the south to boost revenues but has been slow to cut again as northern output has returned. An agreement was struck with Erbil in Ap...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
QatarEnergy Boosts ExxonMobil East Med Collaboration With Egypt Farm-In
...up in breaking off relations – returning $7bn in loans and throwing Al Jazeera journalists in jail, among other measures (MEES, 8 July 2018). Egypt was more than happy to jump on the bandwagon of the Saudi-led embargo of Qatar from 2017 which finally came to an end in January 2021 (MEES, 8 Ja...
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 -
UAE-Oman Relations: Brotherly Love Or Sibling Rivalry?
...licy. Muscat has generally followed a regional foreign policy guided by mediation and diplomatic engagement. Meanwhile, Abu Dhabi has been keen to flex its military and economic strength, most recently in Sudan (MEES, 3 May). When the UAE joined Saudi Arabia and Bahrain in its blockade of Qatar in 2017...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
Gas Output: From Bad To Worse
...Egypt’s gas output woes go from bad to worse. Output slumped to a six-year low 5.21bn cfd for March, almost 2bn cfd down on the record 7.19bn cfd hit in September 2021. On a quarterly basis, output was down 3% sequentially at 5.31bn cfd for Q1, the lowest since 4Q 2017 and some 25% below 3Q...
Volume: 67Issue: 19Published at Fri, 10 May 2024 -
Saudi Arabia Targets Foreign Investment To Bolster Economic Growth
...eated the Future Investment Initiative (FII) conference which it has held in Riyadh annually since October 2017 and which was swiftly dubbed ‘Davos in the Desert.’ Last month Davos, home to the WEF’s flagship event, truly came to the Desert. While the 28-29 April WEF Special Meeting had more of a ge...
Volume: 67Issue: 19Published at Fri, 10 May 2024 -
Bahrain Plans 2GW Wind Capacity
...y to net-zero by 2060. And the country’s 2017 National Renewable Energy Action Plan (NREAP) targets renewables capacity of 225MW by 2025 (equivalent to 5% of forecast peak demand) and 710MW (10%) by 2035. Bahrain’s current installed capacity is 5GW from a fleet of five thermal plants. Renewables ca...
Volume: 67Issue: 18Published at Fri, 03 May 2024 -
Offshore Med & Nile Delta Blues Continue For Egypt Gas Output
...shore Nile Delta, is in even worse shape. Q1’s output of 510mn cfd marked a seven-year low, whilst losses of 3% versus Q4 marked the sixth consecutive quarter on quarter fall to leave output 62% below Q3 2017’s peak 1.36bn cfd (see chart 1). WHAT GOES UP… Back in 2017 the key Ni...
Volume: 66Issue: 21Published at Fri, 26 May 2023 -
Kurdistan’s Khor Mor Gas Expansion Back On Track
...8mn), up from $59mn in the same period last year (see chart 2). This is by far the biggest figure since 2Q 2017’s $707mn, following which an agreement was reached with the KRG in August 2021 to write them off in return for a cash payment and the licenses to two additional exploration blocks (MEES, 1 Se...
Volume: 66Issue: 20Published at Fri, 19 May 2023