- Sort by:
- Score
- Published ▼
-
Services Firms: Mideast Growth Picks Up, But US Slows
...-track to have mobilized 25 rigs by the end of the year.” This is certainly a boost for the kingdom as its rig count has averaged 115 during the first nine months of 2018, the lowest since 2014. Mideast revenue gains were “partially offset by lower hydraulic fracturing activity as a major contract wa...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Upstream Costs: Can Services Firms Get Majors To Split The ‘Rent’?
...Global oilfield services firms say their margins have to rise. Majors are adamant they will keep down costs. Can the circle be squared? The collapse in oil prices from the second half of 2014 led majors to take an ax to what they acknowledge had been bloated capex budgets. From $196bn in 20...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Suez Canal Trade Hits Records But Trade War Threatens
...uthbound shipments of both crude and LNG. Revenues, up 10% year-on-year, are on track to smash 2014’s record $5.465bn. But a dip in container shipments hints at the global trade headwinds. The Suez Canal saw oil shipments of 4.70mn b/d in the first nine months of 2018, up over 9% year-on-year and on tr...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Will Saudi Geopolitical Crisis Derail PIF Plans, 2030 Vision?
...sinesses do ultimately retrench from doing business with Saudi Arabia, who could fill the void? Russia and Saudi Arabia, the world’s two largest oil exporters, have been forming closer ties since the collapse of the oil price in 2014; they now coordinate production under the ‘Opec+’ format. The Russian Di...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Back To The Future: Rehabilitation Of Red Sea Terminal Boosts Saudi Export Flexibility
...s been some time coming. Aramco’s 2014 Annual Review said “we completed 90% of the design package to de-mothball and integrate the Al-Mu’ajjiz Terminal.” Mr Qahtani, in his May 2017 interview, said the terminal was scheduled to be up and running this year, although the firm’s 2017 Annual Review cast do...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Qatar Petroleum To Replace Oxy At Key Offshore Field
...da as energy minister and QP chairman in 2011 (MEES, 21 February 2011) and has accelerated since Mr Kaabi’s appointment in September 2014 (MEES, 19 September 2014). When Total’s PSA for the 25,000 b/d Al-Khalij expired in 2014 the structure was replaced with a joint venture agreement (QP 60%, To...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
US Permian Shale: Can It Maintain The Gains?
...ALE RIG COUNT: PERMIAN RIGS ROSE TO 485 IN SEPTEMBER, HIGHEST LEVEL SINCE 2014; PERMIAN SHARE OF TOTAL ‘SHALE’ RIGS HIT RECORD 52%, REVERSING Q2 DIP WHEN OPERATORS MOVED RIGS TO BAKKEN, EAGLE FORD US ‘DUC’ COUNT SOARS PAST 8,000: WHILST OPERATORS CONTINUE TO DRILL WELLS, COMPLETIONS HA...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Syria: Gas Output At 75% Pre-War Levels, Oil Recovery Lags
...agnation but also the exodus of some seven million Syrians abroad. OIL: FROM BAD TO WORSE Syria’s oil outlook was precarious even before the conflict broke out, and then government-controlled output fell to 9,000 b/d by 2014. Natural declines had nearly halved output and poor contract conditions al...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Iraq Sends Record Volumes To Its Refineries
...finery – once the country’s largest at 310,000 b/d capacity prior to being overrun by the Islamic State in 2014 (MEES, 26 September 2014). Oil Minister Jabbar al-Luaibi announced the rehabilitation of the refinery’s 70,000 b/d Salahuddin-2 unit on 9 September, although it is unlikely that it is capable of op...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Iraq: Aging Infrastructure To Hinder Basra Gains?
...nistry to improve the terms of its technical services contract (TSC) at the supergiant field. BP’s initial plateau production target (PPT) was 2.85mn b/d but the British firm negotiated it down to 2.1mn b/d in 2014 (MEES, 12 September 2014). BP was rumored to be in talks to lower the PPT to 1.8mn b/d ea...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Omani Oil Output Nears 1mn B/D Mark, Revenues Soar
...lumes coupled with rising prices. MEES estimates that crude and condensate export revenues brought in $1.98bn in September – the highest figure since December 2014. 3Q’s sum of $5.63bn is up $2.09bn year-on-year - nearly 60%. Year-to-date revenues are up 35% on the same period in 2017, which will he...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Total Signs Up For Algeria Expansion
...ovisionally slated for 2019 will be keenly watched to see if the reforms have been enough to attract new investors. The previous bid round, from more than four years ago, was an almost-total flop (MEES, 3 October 2014). Sonatrach’s exploration model tends to consist of racking up the discoveries first and wo...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Can A New Government Salvage Iraq’s Economy?
...idar al-Abadi did in 2014 when Islamic State (IS) was running rampant (MEES, 26 September 2014). The next PM will, however, have to deal with the reconstruction following the devastating conflict with the group, and that is going to cost a lot of money. As much as $88bn. The next government wi...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Baghdad Poised For Northern Boost
...e end of the year. The field is also producing 100mn cfd of associated gas. The field produced 28,000 b/d prior to the Islamic State takeover (MEES, 25 July 2014). As MEES reported last month, Iraq is also pumping 30,000 b/d of heavy oil from Qayara field located 75km north of Ajeel, with “am...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Egypt Gas Hub Ambitions Gather Pace
...the end of June 2014, and institutional bureaucracy which kept them away. Prior to 2015, oil firms operating in Egypt were paid $2.65/mn BTU for the gas they sold the state. This pricing failed to take into consideration deeper offshore and more complex discoveries. BP held-off on sanctioning WN...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Iraqi Government Formation Gathers Pace
...al with his counterpart Ashti Hawrami in 2014 giving Iraq access to the KRG’s 700,000 b/d export pipeline to Ceyhan, Turkey (MEES, 5 December 2014). Baghdad would have otherwise had to shut-in the bulk of its production from Kirkuk following the Islamic State’s 2014 advance in which they damaged Ir...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Houthis Eye Tempting Target
...Since Aramco began building the Jazan refinery and associated oil terminal in 2014, the local geopolitical situation has deteriorated sharply, with Riyadh supporting the Yemeni government in its campaign to quell Houthi rebels, whose area of operation is just south of Jazan in northern Ye...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Saudi-Kuwait Neutral Zone: No Deal
...d is the only such foreign firm in either country’s upstream. PNZ output was around 440,000 b/d in the first half of 2014 before the 240,000 b/d offshore output was halted in October 2014, with the onshore portion’s 200,000 b/d stopped in May 2015 (MEES, 31 July 2015). ...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Saudi Steps Up Spending In Bid To Boost Economy
...e 2014 oil price collapse, the Saudi government has more recently turned to debt markets. This enabled foreign reserves to rise to an 18-month high of $510bn at end-August, though this is still well down on its August 2014 peak of $746bn (see chart MEES, 5 October). Having raised $21.5bn in 20...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Aramco Ready To Fire Up Power Plant As Key Jazan Projects Near Completion
...C First phase 1mn t/y steel billets, second phase 1mn t/y Steefco (2014) 0.04 Within JEC Forming, coating 180,000 t/y of steel rebar and mesh U/C: Jazan refinery (2019) 7.00 Within JEC 400kb/d CDU. Output in...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018