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Syria’s Oil Reserves: Trump’s Half-Baked ‘Plan’
...l.” “I still can’t believe we left Iraq without the oil,” he tweeted in 2013, adding “to the victor belongs the spoils. There was no victor, but I always said ‘take the oil.’” Syria’s relatively modest oil industry was already on the slide when war broke out in 2011, averaging 386,000 b/d in 2010 – do...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Jordan: Gas Oversupply Threatens Key Startups
...at both the energy ministry and state power company Nepco are struggling to cope with the ongoing changes – and it could see commissioning for key projects be delayed. The main issue boils down to key contracts that Jordan signed over the last several years which are no longer competitive. In 2011...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Egypt-Israel In EMG Arbitration Settlement
...12. Already volumes had dwindled in 2010 and 2011 amid domestic gas shortages and numerous attacks on the pipeline which traverses the unstable Sinai Peninsula. In a cautionary tale for those inking current deals with Israel, the EMG deal became politically poisonous in the wake of Egypt’s February 2011...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Total Reaps Mena Rewards Despite Iran Setback
...estion is whether Total would consider taking another gamble on Iran should the politics change in the medium-term. Iran is just the latest Middle East gas setback that Total has suffered in recent years. Having recorded net 218mn cfd from Syria in 2011 through its 50% stake in the Deir Az Zour Pe...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Iran’s Oil Export Prognosis: Is The Market Too Blasé?
...5,000 b/d volumes were at their highest level since 2011 putting Spain second only to Italy among European buyers. But volumes had already fallen to 100,900 b/d for September as sanctions loomed. But, unlike number one EU buyer Italy or number four Greece, Spain neither applied for nor was granted a ‘wa...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Tunisia Struggles To Cash In On Democracy
...uted as the Arab Spring’s only success story, Tunisia has navigated a difficult path toward democracy since the overthrow of dictator Zine al-Abidine Ben Ali on 14 January 2011. But nine governments later, the country’s economic prospects look bleaker than before the Jasmine Revolution. One of the ma...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Israel: Pipeline Bottleneck Blunder Adds to Exports Headache
...19,” with “technical evaluation” and “flow reversal planning” ongoing – the route was previously used to ship Egyptian gas to Israel. But volumes halted in 2011 amid pipeline bombings, political disputes and an underlying shortage of Egyptian gas to export (MEES, 1 August 2011). Noble’s timeline lo...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Qatar Petroleum Chief Consolidates Energy Sector Grip With Cabinet Seat
...nounced a cabinet reshuffle on 4 November in which QP CEO Saad Sherida al-Kaabi was appointed Minister of State for Energy Affairs. Mr Kaabi has replaced Minister of Energy and Industry Muhammad al-Sada who had held the post since January 2011 (MEES, 24 January 2011). As minister, he will have “overall re...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Egypt Confident It ‘Has The Keys To The Future’ Of East Med Gas
...orage depots, and terminals as well as pipelines,” Mr Molla says. Of course, this has also been true in the intervening years since Israel discovered the 22tcf Leviathan field in 2010 and Cyprus the 4.2tcf Aphrodite in 2011. So what’s changed? For one thing, the discovery of the 21.5tcf Zohr field of...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
MEES Interview With Egypt’s Minister of Petroleum
...dependence earlier this year. What have been the driving forces? A: The petroleum sector faced several challenges in recent years stemming from the political and economic situation in Egypt between the two revolutions of January 2011 and June 2013. Investments in the petroleum industry fell, there was di...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Eni Grows North African Presence
...d of this year and “restart exploration activities” next year (MEES, 12 October). Eni is Libya’s top producer, with net 1.62bn cfd of gas and 87,000 b/d of oil output in 2017. It managed to continue production in Libya throughout the 2011 revolution, albeit offshore....
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Saudi Crude Exports At 7-Year Low, Outweighing Products Gains
...aq is boosting southern exports by 200,000 b/d to mitigate (MEES, 3 November). SAUDI CRUDE SHIPMENTS SINK Saudi crude exports of 6.55mn b/d in September were the lowest since March 2011, marking a continuation of a trend which has seen volumes slip for three continuous quarters – the first su...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Ubari Power Plant Faces Delays After Abductions
...ditional power as it suffers both scheduled and unscheduled blackouts (MEES, 22 September). The Ubari project was abandoned in 2011 after the ouster of former dictator Mu’ammar al-Qadhafi. The abduction will likely have a knock-on impact on other foreign companies mulling a return to Libya. This could fu...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
GCC Debt Smashes All Records
...pects growth will then improve in the next two years, with regional growth expected to average 1.9% in 2018, followed by 2.7% in 2019, this still falls substantially short of levels seen prior to the oil price drop in 2014 and the 4.5% average seen before 2011. The IMF in its latest Middle East re...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Spanish Q3 Crude Imports ('000 B/D): Iran Up 50% Y-O-Y To Overtake Iraq, Libya Volumes At Highest Since 2010
... SPAIN Q3 CRUDE IMPORTS ('000 B/D): MENA VOLUMES ON THE RISE WITH LIBYA & IRAN BOOST MENA BREAKDOWN* ('000 B/D): LIBYA OVERTAKES SAUDI AS SPAIN’S TOP REGIONAL SUPPLIER *EXCLUDES OCCASIONAL SMALL VOLUMES FROM TUNISIA AND (TO 2011) SYRIA. SOURCE: CORES, MEES. SE...
Volume: 60Issue: 46Published at Fri, 17 Nov 2017 -
Reality Sets In As KRG Imagines Life With Less Oil
...eld, which South Korea’s Kogas signed a contract to develop in 2011 (MEES, 13 June 2011). Akkaz was slated to produce 400mn cfd, but security concerns and the Islamic State’s advance halted development. US-mediated talks over joint KRG-Iraq control of international border crossings in Iraqi Ku...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Saudi Rig Count Rebounds As Focus Turns Offshore
...azil’s offshore rig count remained at 10 in October, less than a quarter of peak 2011-13 levels, but it is due to rise after a slew of recent rewards. Brazil awarded six of eight deepwater ‘pre-salt’ blocks on offer last month: three to Anglo-Dutch major Shell, BP took two, and ExxonMobil one, in the cl...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Egypt Gas Output Set To Soar By 2020
...785bn cfd, almost 2bn cfd higher than the previous annual output record set in 2011. Whilst demand is also set to rise strongly in 2019-20, by 447mn cfd (7%) to a record 6.831bn cfd, this will nevertheless, according to the projections, mean a surplus of over 950mn cfd. This implies surplus gas eq...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Algeria: In Amenas Hits Record Production As In Salah Output Halves
...natrach, produced an average 876mn cfd in the second quarter, the highest since Q1 2011 (see chart). This was followed by 837mn cfd in the third quarter, also higher than any quarter between Q1 2011 and Q2 2017, according to MEES calculations based on Q3 figures published by Statoil on 26 October. The re...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Iraq Export Revenues Soar
...vel since the 2011-14 halcyon years of $100/B-plus crude. A full year of $56/B for Iraqi crude would imply $70bn revenue – perhaps enabling Baghdad to begin diverting funds to much-needed upstream investment. Increased revenues could have important implications for Iraq’s much-maligned te...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017