- Sort by:
- Score
- Published ▼
-
Iraq Braces For Government Formation: Sadr Wins Most Seats, Maliki Close Behind
...e outgoing parliament (see table). Sadr now has the largest bloc in parliament but he is tailed by the country’s longest serving post-2003 prime minister, Nouri al-Maliki who was in office from 2006 to 2014. Maliki’s ‘State of Law’ alliance added 10 seats for a provisional total of 35. But Mr Ma...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
Algeria’s Economic Rebound: Can It Seize The Moment?
...I and diversify the economy? Algeria is set for its first trade surplus since 2014 as higher oil and gas prices coupled with a boost in export volumes drag its economy out of an abyss. If the latest estimates from Algerian officials prove correct, a surge in exports to $37.5bn is set to result in...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
Petrofac Hopes To Turn Page After UK Bribery Conviction
...yments in 2013 and 2014 (MEES, 19 March). Being shut out of what were three key markets – and also the three (alongside Qatar) Mena markets with the largest suite of upcoming energy investments (MEES, 30 April) – has left Petrofac casting round for work in what were formerly marginal areas such as Li...
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Dana Gas Wins Iran Arbitration
...intly owned by Dana Gas and its largest shareholder Crescent Petroleum, for the supply of up to 600mn cfd from the shared Salman field beginning in 2005. Despite NIOC completing its section of the export pipeline, the agreement was effectively frozen after Iran demanded higher gas prices. In 2014...
Volume: 64Issue: 39Published at Fri, 01 Oct 2021 -
Oman Sees Economic Weaknesses Play A Geopolitical Role
...l revenues. But it never fully recovered from 2014’s oil price crash. Coupled with a post-Arab Spring spending spree, this saw its debt balloon from $4bn in 2013 to $50bn just seven years later. This year’s collapse in oil prices added insult to injury. Revenues fell from $14.3bn in 1H 2019 to $12...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Eni’s Zohr Under Threat From Water Infiltration
...2.7bn cfd was raised to 3.2bn cfd at the behest of Egypt’s President Abdel Fattah al-Sisi as Egypt suffered gas shortages between 2014-2017, causing countrywide power cuts. In June last year at a conference in Cairo delegates warned that over-drilling could result in the reservoir’s collapse but th...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
Korea Crude Imports 6-Year Low, Taiwan Lowest In Decades
...e lowest annual figure since 2014. MIDEAST SLUMP Not only are Korean imports down but Middle East volumes are down further, by 10% for the first nine months of 2020 with Korea taking an 11-year low of just 1.68mn b/d from the Middle East in September. The region’s share of th...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
SEC $80bn Debt Dilemma
...reement with seven Saudi banks for SR9bn ($2.4bn) to finance “general corporate purposes including capital expenditure.” Overall, SEC has raised $51.3bn since July 2007, mainly through sukuk and bank loans. The largest loan by far, of $13.2bn, was granted by the Ministry of Finance in March 2014 (ME...
Volume: 63Issue: 42Published at Fri, 16 Oct 2020 -
Turkey’s East Med Drilling Campaign: Politics By Other Means
...In the scramble for the East Med, Turkey has been mixing guns with energy. A prolific politics-first drilling campaign has so far failed to result in an ‘economic’ discovery. But will Turkey’s ‘drill, baby, drill’ mentality see it strike gas? When in 2014 your correspondent asked the now-Tu...
Volume: 63Issue: 41Published at Fri, 09 Oct 2020 -
Iraq’s Economy Teeters Despite Q3 Revenue Rebound
...ll below 3mn b/d for the first time since 2014 (see chart). If one sums up the extent of Iraq’s economic woes, it is that $43bn is far short of the $50bn earmarked this year for the bloated public sector’s ‘salaries and pensions’ alone (MEES, 8 May). Given Prime Minister Mustafa al-Kadhimi’s pr...
Volume: 63Issue: 41Published at Fri, 09 Oct 2020 -
Acwa Control At Rawec As JGC Quits
...keover, Rawec had a strained relationship with Petro Rabigh: a 2013 outage at its utilities plant damaged a number of furnaces in the petchem plant’s cracker. Petro Rabigh threatened to terminate Rawec’s supply contract until a SR1.125bn ($300mn) compensation deal was agreed (MEES, 6 June 2014...
Volume: 63Issue: 41Published at Fri, 09 Oct 2020 -
Egypt Power Use Suffers Amid Covid Demand Depression
...nce 2014-15’s 147.0TWh. *Power consumption by the industrial sector slumped 13% year-on-year to just 9.58TWh for Q2, the lowest quarter since 1Q16 and the lowest second quarter in over a decade. For 2019-20 as a whole, industrial consumption was down 7% at 41.2TWh, the lowest figure since 20...
Volume: 63Issue: 40Published at Fri, 02 Oct 2020 -
Five Years On From Khafji Shut-In, Is The Neutral Zone Poised For Restart?
...wait Partitioned Neutral Zone (PNZ) burst to the surface with the shut-in of the offshore Khafji field in October 2014 (MEES, 24 October 2014). And in just six months’ time, it will be half a decade since the 500,000 b/d capacity PNZ last produced a drop of oil (MEES, 15 May 2015). There is growing op...
Volume: 62Issue: 43Published at Fri, 25 Oct 2019 -
Shell Shifts Egypt Focus To ‘Integrated Gas’
...e start the firm would – like fellow majors BP and Eni, the other key players off Egypt – have taken more of a long-term view rather than downing tools in response to payment delays. Indeed, whilst BG (and subsequently Shell) blamed EGPC for the collapse in output and the halting from 2014 of LNG ex...
Volume: 62Issue: 43Published at Fri, 25 Oct 2019 -
Yemen: Second State Firm Restarts Production
...ar that production had once again started at its Block 9 which produced 6,000 b/d before the security situation deteriorated in 2014 (MEES, 17 May). But of all these, Safer’s return, reported by Reuters, could prove to be the most consequential yet. For one thing, Block 18 is amongst the most vi...
Volume: 62Issue: 42Published at Fri, 18 Oct 2019 -
Qatar Petroleum Finalizes Idd al-Sharghi Takeover
...nce Saad al-Kaabi took over as CEO in 2014 (MEES, 14 September 2014). Under his leadership, the role of IOCs at Qatar’s oil fields has been greatly reduced, either through tighter terms or with QP taking over entirely. This week saw QP finalize its takeover of two fields, replacing US firm Occidental (Ox...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Egypt Cuts Road Fuel Prices
...ckage with the IMF which ended in June this year (MEES, 21 June). Though the (modest) price cuts followed some of the most vocal protests since Mr Sisi came to power in 2014 – with up to 3,000 people having been detained – the Oil Ministry insists that the gasoline prices cuts are not linked but ra...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Libya’s NOC Demands Funds
...s witnessed some wild fluctuations over the years - mainly due to conflict. It plummeted to a low of 200,000 b/d in April 2014, but has recovered in recent months and hit a six-year high 1.26mn b/d in May this year. September output came in at 1.22mn b/d. Years of neglect, war and un...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Tunisia’s Upstream: Can It Emerge From A Lost Decade?
...llowing the revolution, the country’s 2014 constitution made it even more difficult for the government to award exploration blocks. In the name of oversight and transparency (key demands of the uprising, among others) the new constitution’s Article 13 stipulated that any new awards must be approved by pa...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Iraq: New Government, Old Problems
...Adil Abd al-Mahdi was confirmed as Iraqi Prime Minister late on 24 October as he managed to secure parliamentary approval for the bulk of his cabinet nominees. His predecessor Haidar al-Abadi is undeniably bequeathing Mr Abd al-Mahdi a more stable situation than the one he inherited in 2014 (ME...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018