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Libya: Total/Conoco Waha Deal Confusion Highlights Control Vacuum
...oject and the restart of the Dahra-Bahi field (MEES, 6 November 2020). Beyond Waha, Total wants to restart its Mabruk field which saw its surface facilities trashed by Islamic State in 2014. Mr Pouyanné says the target here is to restore output to 40,000 b/d. A Total source told MEES that this was cu...
Volume: 64Issue: 47Published at Fri, 26 Nov 2021 -
Iraq Lowers Rumaila Output Target
...Iraq appears to have significantly reduced the production plateau target (PPT) of its largest field, Rumaila, from 2.1mn b/d to 1.7mn b/d. This is another marked reduction, after operator BP negotiated a downwards revision from 2.85mn b/d to 2.1mn b/d back in 2014 (MEES, 5 September 2014). Ca...
Volume: 64Issue: 47Published at Fri, 26 Nov 2021 -
Spain Crude Imports: Mideast Share Down Again
...18. For 2020 Mideast volumes of 181,000 b/d were the lowest on record but volumes have since fallen further to just 150,000 b/d for 9M2021, whilst the region’s 13.5% market share is on track to come in below 2014’s record annual low of 15.4%. Key Gulf supplier Saudi Arabia, at 81,200 b/d for 9M 2021, is...
Volume: 64Issue: 46Published at Fri, 19 Nov 2021 -
Egypt’s Midsize Gas Producers: Output Down But Receivables Down Too
...om the KRG and $125mn in Egypt where Dana’s receivables bill fell to $65mn as of end-September, the lowest level in over a decade and down $17mn versus the figure three months earlier. Energean, likewise, saw its receivables fall in Q3, to $145mn, the lowest level since 2014 though down only sl...
Volume: 64Issue: 46Published at Fri, 19 Nov 2021 -
Asian LNG: Spot Prices Still At Record Levels, Term Prices Continue To Climb
...ese are also edging higher. Korean importers paid an average of $13.31/mn BTU for October imports, the highest since March 2015, whilst the $12.36/mn BTU paid by Taiwan was the highest since December 2014. *The key element in Asian LNG pricing formulas is crude prices, and back in 2014 crude pr...
Volume: 64Issue: 46Published at Fri, 19 Nov 2021 -
Qatar Quarterly Export Revenues At 7-Year High
...The gradual increase in the price of Qatari LNG is much less dramatic than spot market gains, but it is lifting the emirate’s revenues to their highest level since late 2014. Qatari export revenues are running at seven-year highs as the LNG superpower benefits from the energy price cr...
Volume: 64Issue: 45Published at Fri, 12 Nov 2021 -
Iraq Oil Export Revenues Hit Three Year High
...s soaring oil prices. The average price of Iraqi crude exports surged to $79.38/B for October, the highest figure since October 2014. With oil prices staying high in early November and Iraqi output set to rise further as Opec+ production cuts ease further (see p8), Baghdad can look forward to si...
Volume: 64Issue: 44Published at Fri, 05 Nov 2021 -
Saudi Petchems Firms Post Strong Results Despite Pricy Feedstock
...e first nine months of 2021 are already up to $18.09bn. This is likely to lead to the highest full year profits since 2014, even if there is further slippage in Q4. CEO Yousef al-Benyan says the results “marked a continuation of our recovery from the impact of Covid-19, albeit at a lower level th...
Volume: 64Issue: 44Published at Fri, 05 Nov 2021