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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 -
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 -
QatarEnergy Boosts ExxonMobil East Med Collaboration With Egypt Farm-In
...up in breaking off relations – returning $7bn in loans and throwing Al Jazeera journalists in jail, among other measures (MEES, 8 July 2018). Egypt was more than happy to jump on the bandwagon of the Saudi-led embargo of Qatar from 2017 which finally came to an end in January 2021 (MEES, 8 Ja...
Volume: 67Issue: 20Published at Fri, 17 May 2024 -
Offshore Med & Nile Delta Blues Continue For Egypt Gas Output
...shore Nile Delta, is in even worse shape. Q1’s output of 510mn cfd marked a seven-year low, whilst losses of 3% versus Q4 marked the sixth consecutive quarter on quarter fall to leave output 62% below Q3 2017’s peak 1.36bn cfd (see chart 1). WHAT GOES UP… Back in 2017 the key Ni...
Volume: 66Issue: 21Published at Fri, 26 May 2023 -
Majors’ Russia Exit Puts Spotlight On Mena Portfolios
...to Iran’s South Pars gas project in 2017 was cut short by the return of US sanctions the following year (MEES, 23 November 2018). While it was prevented by the Algerian government from buying Occidental’s ex-Anadarko assets in 2020 (MEES, 8 May 2020), at least the firm managed to complete its co...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
Dana Gas Profits Jump As Oil Market Strengthens
...CEIVABLES ($MN, END OF PERIOD) SOURCE: DANA GAS, MEES. 2: DANA GAS NET OUTPUT: KRG VOLUMES ARE NOW CLEARLY AHEAD OF THOSE FROM EGYPT (BOE/D) SOURCE: DANA GAS, MEES. 3: DANA GAS CAPEX DROPPED TO ITS LOWEST LEVEL SINCE 2017 LAST YEAR ($MN)...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Exxon Hikes 2020 Permian Forecast, Eyes Q4 Start-Up At Sabic JV Cracker
...orms. These knocked 800,000 b/d (18%) from Texas’ overall crude output and saw US production as a whole fall to the lowest level since 2017 (see chart 2). Despite the storms, Exxon’s Q1 figure was up 12% year-on-year. Exxon’s 2021 spending will be highly focused on “prioritized investments” where Ex...
Volume: 64Issue: 18Published at Fri, 07 May 2021 -
Eni Offshore Egypt: Two Steps Forward, One Step Back
...gust has been exacerbated by the effect of Covid-19. March saw just 3.00bn cfd burnt in power generation, a three-year low. Overall Egyptian gas demand remained flat quarter-on-quarter at 5.65bn cfd but down 8% on Q3 2019’s peak 6.17bn cfd (see chart 3). Up until 2017, the majority of Eni’s Egypt ga...
Volume: 63Issue: 21Published at Fri, 22 May 2020 -
Cepsa’s Upstream Shift Hampered By Algeria Output Slump
...thout petchems). Refining profits more than halved to €124mn as per barrel margins at the firm’s two refineries – 250,000 b/d San Roque in Cadiz and 220,000 b/d Huelva – fell from $7.5/B in 2017 to $4.3/B in 2019. As with other oil companies, IOCs, NOCs, upstream-focused and integrated alike, this ye...
Volume: 63Issue: 20Published at Fri, 15 May 2020 -
Delek Asset Fire Sale
...nglomerate, Delek has sought since 2017 to “become a leading E&P pure play.” The firm’s “core” upstream assets are 55% of Delek Drilling which in turn is US operator Noble’s key partner at both of Israel’s key gas developments, Leviathan (45.34%) and Tamar (22% – see p3) and 100% of UK North Sea producer It...
Volume: 63Issue: 20Published at Fri, 15 May 2020 -
Fujairah Storage Hub Set For Industry Boost
...erational. The largest of which is Vitol’s 82,000 b/d refinery, located close to Uniper’s 67,000 b/d topping plant. The Uniper facility began commercial operations in 2017 and consists of two identical units. Uniper says the plant has “the capacity to produce about 3.6mtpa of marine fuels with sulphur co...
Volume: 63Issue: 18Published at Fri, 01 May 2020 -
Saudi Set To Secure US Shale Gas Foothold With LNG Deal
...cilities. If it were to install such facilities, then an FSRU would seem the most likely option, presumably on the Red Sea coast given that this is the most gas-deprived region (MEES, 19 April). Additional gas is certainly required, with Aramco projecting gas demand to grow from 9.1bn cfd in 2017 to 14.6bn cf...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Iraq’s Somo Pursuing Strategic Shift Toward Crude Trading
...ghdad HQ (see transcript, p6). Mr Alyasri assumed the post in September 2017, replacing Falah Al-Amri who initially envisaged the shakeup of Somo the year before (MEES, 15 September 2017). “Once taking over office, I immediately turned to the medium- and long-term plans, and the mechanisms that will ma...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
OMV, Repsol Bank On Libya To Hit Optimistic Output Targets
...llowing a series of attacks late last year, only restarting in early March (MEES, 8 March). The facilities again came under rocket fire on 29 April, whilst output was previously shut in due to rocket attacks last July (MEES, 3 August 2018), and before that for more than two years to early 2017. So on...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
IOCs Face Mixed Picture In The Mena Upstream
...ll. In the Middle East and North Africa (Mena) region, these contrasting strategies have had a profound impact on respective oil output for IOCs. Total overtook ExxonMobil to seize the crown as the region’s largest oil producer in 2017, and last year opened up a gap of nearly 150,000 b/d on its US ri...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Qatar Rolls Out Plans To Expand LNG Storage, Export Capacity
...nkers. Qatar has previously posited installing new LNG export berths beyond the LNG No.6 berth, and this remains the likeliest location for such facilities. With QP preparing to ramp up LNG exports from 2024 the firm is also greatly expanding its tanker fleet. CEO Saad al-Kaabi told MEES in 2017 that th...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Eni: $7bn For Iraq’s Zubair
...ly 270,000 b/d when Eni managed to renegotiate the field’s production plateau target (PPT) from 1.2mn b/d to 850,000 b/d in 2013 (MEES, 31 May 2013). Output hit 400,000 b/d in September 2016 following a production capacity increase to 660,000 b/d, encouraging Eni in early 2017 to set production ta...
Volume: 62Issue: 18Published at Fri, 03 May 2019 -
Drilling Firms Boost Mideast Operations
...ertook that of number two, Halliburton, but a 10% decline, “driven primarily by seasonality across most businesses”, saw it fall to $5.62bn and back into third place. SERVICES FIRMS 1Q19 REVENUE ($BN): REVENUES DIP QUARTER-ON-QUARTER BUT REMAIN FLAT YEAR-ON-YEAR *GE SUBSIDIARY SINCE JULY 2017...
Volume: 62Issue: 18Published at Fri, 03 May 2019 -
Rosneft Discovery Adds To Growing Iraq Presence
...oject, however (MEES, 14 September 2012). Rosneft drilled its first exploration well, Salman-1, in February 2017 just months after the completion of its controversial acquisition of the block’s operator Bashneft. Rosneft’s 70% stake in Block 12 (MEES, 3 March 2017) was swiftly upgraded to 100% as an ag...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
Kuwait Energy: Could Stretched Finances Force Firm From Key Iraq Asset?
...d Iraq. These soared from $77mn at end-2016 to $125mn at end-2017; alongside the $69mn from Egypt lay $46mn from Iraq. KEC’s 2017 report released in April says $46mn trade receivables were settled from Iraq since December (MEES, 11 May). This came in the form of an 800,000-barrel crude cargo re...
Volume: 61Issue: 21Published at Fri, 25 May 2018