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Syria Accelerates Its Upstream Ambitions
...banon unilaterally claimed its EEZ in a letter to the United Nations in 2011, but Syria – not a signatory to the United Nations Convention on the Law of the Sea (UNCLOS) – rejected this in 2014. Last month, Lebanon’s cabinet finally approved its maritime border with Cyprus, 18 years after Beirut and Ni...
Volume: 68Issue: 47Published at Fri, 21 Nov 2025 -
Mauritania’s Banda Integrated Gas Project Progresses
...ergy needs. UK based Tullow took Banda in 2011 from Malaysia’s Petronas and announced commerciality a year later (MEES, 22 February 2013) before having to cut back on investments when prices began to drop in 2014. Development plans only recovered recently when Banda and the nearby 0.9tcf Tevet fi...
Volume: 68Issue: 46Published at Fri, 14 Nov 2025 -
US Blocks Gunvor-Lukoil Transaction
...nnady Timchenko exited in 2014 just ahead of being sanctioned by the US for links to Putin (MEES, 25 April 2014). Gunvor says the Treasury Department statement “is fundamentally misinformed and false,” adding that it “has for more than a decade actively distanced itself from Russia, stopped trading in...
Volume: 68Issue: 45Published at Fri, 07 Nov 2025 -
BP Eyes Kirkuk Deal By February
...der the auspices of a 2013 MoU which was disrupted by the Islamic State’s 2014 takeover of much of northern Iraq, with the major restarting work in 2018. BP has decided to give Kirkuk a second chance due to Iraq’s willingness to offer improved contract terms under its ‘profit sharing’ Development an...
Volume: 67Issue: 48Published at Fri, 29 Nov 2024 -
Will Iraq Be Caught In The Crossfire Of Trump’s Iran Policy?
...gures including leaders of the Popular Mobilization Units (PMUs). The PMUs were formed to fight Islamic State terrorists in 2014 but have also encompassed many of the Iran-backed militias. The PMUs, by law, are part of Iraq’s official security apparatus but the line between them and the militias has so...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Jordan Eyes Gas Expansion On Risha Reserves Hike
...frastructure and develop a gas network. And, while the numbers quoted by the minister are promising, further evaluations will be needed. Risha’s reservoir is seen as complex, with UK major BP walking away from the field in 2014 (MEES, 26 September 2014). JORDAN GAS & POWER INFRASTRUCTURE ...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Tunisia Oil & Gas Output Falls To New Record Lows
...*Tunisia’s crude and condensate output fell to a new multi-decade low of 26,400 b/d for 3Q 2024. This is exactly half decade-ago levels (3Q 2014 was 53,000 b/d). Output has been on a consistent downward trend since hitting its 21st century peak of 99,000 b/d in 2007. The all-time high of 11...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
LNG Markets: Strong But Steady Growth With New Supply Set To Cap Prices
...llen 26% since peaking in 2014. *Australia remained Japan’s dominant supplier for 9M 2024, with 18.68mn tons, despite a 9% slump from the year-ago period which also saw Japan fall behind China as Australia’s top customer (see p22 for full data). Malaysia with 7.63mn tons was number two ahead of...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Iraqi Fuel Oil Export Surge Raises Smuggling Concerns
...bsidized prices, especially those producing asphalt. Michael Knights, Senior Fellow at the Washington Institute for Near East Policy, has looked closely at the trade, and says “these plants existed since at least 2014 and have bloomed in recent years with licenses issued by the Ministry of Trade and fu...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Oman’s Blocks 3&4: Output Rebound Hopes Recede
...%. Output is now at the lowest since Q4 2014 when production was just ramping up (see chart). At the start of 2023, Tethys’ annual output guidance was 30,000-33,000 b/d, a projection that was only just met by actual 1H production of 30,670 b/d (MEES, 21 July) but now looks beyond reach. Indeed, up...
Volume: 66Issue: 44Published at Fri, 03 Nov 2023 -
Crude Trade: Gulf Suppliers Squeezed In India, Record Share In Japan
...west since 2014 (see chart and table). *With number three Mideast supplier UAE down 45% at 270,000 b/d and number four Kuwait down 25%, overall Mideast-to-India volumes were down 24% at 2.22mn b/d for 9M 2023. As such the region’s market share, at just 45.9% for 9M 2023 and 45.0% for Q3, is on...
Volume: 66Issue: 44Published at Fri, 03 Nov 2023 -
Iraq Eyes 2024 Refining Boost With 150,000 b/d Baiji CDU Re-Build
...rrorist group when it overran the refinery in 2014 (MEES, 26 September 2014). Now, Iraq’s Oil Minister Hayan Abdulghani has set an ambitious target for it “to begin operations” by 1Q 2024. If successful, this would bring back Baiji capacity to its original 290,000 b/d, after the 70,000 b/d Saladin 1 an...
Volume: 66Issue: 44Published at Fri, 03 Nov 2023 -
Yemen: New Import Hub Increases Houthi Economic Control
...port terminal. STRATEGIC LOCATION Ras Issa sits in a strategic bay on Yemen’s Red Sea coast. It has traditionally been the country’s primary export terminal, receiving crude oil from the Marib Basin via a 110,000 b/d pipeline. But with the onset of civil war in 2014, targeted sabotage of th...
Volume: 66Issue: 44Published at Fri, 03 Nov 2023 -
Saudi Oil Export Revenues On Course For 25% Annual Drop
...ole, MEES estimates that oil revenues are on course to total $245-250bn. Although this is down significantly from last year’s bumper $327bn, it remains a historically high figure. With the exception of 2022, this would be the highest annual figure since 2014 (see chart 2). 2024: SUBJECT TO MA...
Volume: 66Issue: 48Published at Wed, 01 Nov 2023 -
Qatar’s Neighborly Exports Jump As Regional Leaders Reconcile
...abia, the UAE and Bahrain participating in the embargo, Qatar’s exports to its neighbors slumped from $1.38bn in 2Q 2017 to just $700mn the next quarter. After steadily rising since the Al Ula agreement, GCC export revenues jumped to $3.17bn last quarter, by far the highest figure since at least 2014. As...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Saudi 2022 Oil Export Revenues Top $250bn With Three Months To Go
...llars. At $253.9bn, the 9M 2022 figure was already well in excess of 2021’s full year figure of $202.2bn. Indeed, it is already in excess of the annual figures for every year since 2014, when oil prices tanked in the second half of the year, and only returned back above $100/B this year after Russia’s 24 Fe...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Total’s Libya Expansion: Done & Dusted?
...sin which has been shut in since 2014 when an Islamic State attack severely damaged its surface infrastructure. The plan here was to start the field up in early 2023 at a rate of 25,000 b/d before boosting to 40,000 b/d (MEES, 10 December 2021). On 16 November, Total executives held a meeting with NO...
Volume: 65Issue: 46Published at Fri, 18 Nov 2022 -
Saudi Arabia Wary of Iraq’s New Iran-Backed Leader
...liki exited office in 2014 that Gulf States moved to thaw relations with Iraq. They viewed his close links to Tehran with consternation, but their cold approach to Mr Maliki arguably pushed him even closer to Iran. Mr Sudani is linked to Mr Maliki by more than just their shared membership of the Sh...
Volume: 65Issue: 46Published at Fri, 18 Nov 2022 -
Egypt Oil Recovery Slow To Arrive: Will 2023 Be The Year?
...sert. It’s not only Apache’s rig count that has risen, the Western Desert’s overall rig count averaged 74 for Q3, the highest since Q1 2015, whilst the national total of 115 was the highest since Q4 2014. 1: APACHE'S EGYPT SPENDING AND ACTIVITY IS AT A 7-YEAR HIGH.... *INCLUDES 1/3 SINOPEC ST...
Volume: 65Issue: 45Published at Fri, 11 Nov 2022 -
Qatar’s 2022 Export Revenues Top $100bn With Three Months To Spare
...0bn. Not since 2014 have the emirate’s exports achieved this level over the course of a year. With an entire quarter of strong exports yet to come, the question now is simply how high will the end-year figure be? Driven by booming LNG export revenues, Qatar has put together back-to-back monthly ex...
Volume: 65Issue: 45Published at Fri, 11 Nov 2022