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Libya: Oil Still Flowing But Revenues In Limbo
...itiative, tells MEES. PAYBACK TIME? “Kabir is fighting all of this because he knows that the reason he is one of the most powerful men in Libya today is because he controls all of the hard currency accounts in Libya,” he adds. Some $190bn in oil revenues have passed through CBL coffers since 2011...
Volume: 63Issue: 48Published at Fri, 27 Nov 2020 -
Libya Hits 1.25mn b/d
...cember). But cash alone won’t suffice. Libya also needs political stability: missing since 2011. ...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Gulf Offshore Drilling At 10-Year Low As Saudi, Abu Dhabi Stall On Contracts
...The number of active offshore rigs in the Gulf has fallen to the lowest level since January 2011. Excluding Iran, for which accurate data is not available, just 25 drilling rigs were active in the region in October, according to Baker Hughes data. Of these, just 10 were active off Saudi Ar...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Libya’s Oil Rise: The Risks Ahead
...IS IS UNLIKELY TO BE RECEIVED UNTIL EARLY 2021. SOURCE: MEES. CREAKING INFRASTRUCTURE While Mr Sanalla was no doubt seeking to play up the challenges NOC faces, there is also serious weight to what he says. The chaos following the 2011 overthrow of long-time leader Muammar Ga...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
Oman To Introduce Income Tax: Will Rest Of GCC Follow?
...er $100/B prior to late 2014, Oman was still unable to balance the budget as Muscat looked to avoid contagion from the 2011 ‘Arab Spring’ with 2012-14 spending blowouts. While the government is seemingly unable to reduce spending on salaries, the looming implementation of 5% VAT will have a si...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
Apache Egypt Oil Output Slumps To 11-Year Low
...opped to 14, the lowest number since Q3 last year. Inevitably gross oil output has also declined, falling to an 11-year low 161,100 b/d for Q3, down 7% on Q2 and down 27% on record oil output of 220,000 b/d set in Q3 2011 (see chart 2). “Gross production declined as a result of significant drilling ac...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
Record Saudi Gas Output Helps Prevent Oil Burn Spike
...D) CONVERTED FROM BTU TO CFD UNTIL 2011. SOURCE: SAUDI ARAMCO, MEES. 2. SAUDI OIL BURN WAS FLAT YEAR-ON-YEAR IN Q3 DESPITE INCREASED POWER DEMAND ('000 B/D) *PRESUMES ALL FUEL OIL CONSUMPTION IS BURNED: SOME IS USED IN MARINE BUNKERING. EXCLUDES SMALL VOLUMES OF DIESEL. **JULY-AUG AC...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020