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Lukoil to Sell International Assets to Gunvor
...taining permission from the US Treasury’s Office of Foreign Assets Contral (Ofac), says Lukoil. Gunvor was founded in 2000 and has previously had to deny links to the Kremlin. In 2014, Russian co-founder Gennady Timchenko sold his 43% stake to his Swedish co-founder and Gunvor CEO Torbjörn Törnqvist ju...
Volume: 68Issue: 44Published at Fri, 31 Oct 2025 -
Libya: Equinor Offshore Mou
...0,000 b/d capacity, with Equinor netting a princely 6,600 b/d. Mabruk has a nominal 30,000 b/d capacity but has been shut in since IS-affiliated militants overran the facilities in 2014 though Total says it is hopeful of a restart before the end of 2023 (MEES, 31 March). LIBYA: OFFSHORE OIL & GAS ASSETS...
Volume: 66Issue: 42Published at Fri, 20 Oct 2023 -
Iraq: New Akkas Gas Plant
...livering the 300km transmission line from the station to the border (MEES, 17 June). The 2013 built plant was rehabilitated starting early 2020 after it was destroyed by ISIS in 2014. In August, Oil Ministry subsidiary State Company for Oil Projects (SCOP) was working on laying a 30km 16-inch pipeline be...
Volume: 65Issue: 42Published at Fri, 21 Oct 2022 -
India Lng Imports Down Again
...ack to run close the record annual figure of $8.43bn set in 2014. Back then Qatar enjoyed an overwhelming 86% market share versus just over 50% for 8M 2022....
Volume: 65Issue: 40Published at Fri, 07 Oct 2022 -
Iraq Reserves Record
...Central Bank of Iraq (CBI) reserves hit $87bn as of end-September according to CBI Advisor Ihsan Al-Yasiri. This is up $23bn on the end-2021 figure and higher than their previous $81.14bn record set in May 2014 prior to Baghdad tapping them as a result of the 2014 double shock that saw ISIS ta...
Volume: 65Issue: 40Published at Fri, 07 Oct 2022 -
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 -
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 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 -
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 -
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