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Iran Prepares For Israel Retaliation
...ound 130,000 b/d of condensate from Assaluyeh and Kangan further south in Bushehr province. Since their re-imposition in 2018, US sanctions have upended Iran’s customer base and sunk its oil exports from more than 2.5mn b/d in 2017 to less than 1mn b/d in 2019 and 2020, before steadily increasing to...
Volume: 67Issue: 41Published at Fri, 11 Oct 2024 -
One Year After Elections, Iraq Finally Gets PM Nominee
...tober 2017). While Mr Sudani’s links to Mr Maliki may point to difficulties on the horizon, he has also served as Chairman of the Energy Committee of the Iraqi-Saudi Coordination Council. This could bode well for Iraq’s previous efforts to attract Saudi energy investment (MEES, 22 July). WHAT NE...
Volume: 65Issue: 41Published at Fri, 14 Oct 2022 -
Petrofac Hopes To Turn Page After UK Bribery Conviction
...UK-based services firm Petrofac is hoping to put a scandal-riven few years behind it after a UK court on 4 October found it guilty on seven counts of bribery involving payments of $44mn to secure $3.5bn of contracts in Gulf countries between 2011 and 2017. In a case brought by the UK’s Se...
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Iran Hopes To Develop Iraq Border Fields, Finances & Technology Stand In The Way
...er to the new administration was development of the Azar field. Production began at 30,000 b/d in 2017 and had hit 65,000 b/d and 71.5mn cfd by the end of the 2020-21 Iranian year. On the Iraqi side of the border, the field is operated by Russia’s Gazprom Neft and is known as Badra. The ne...
Volume: 64Issue: 39Published at Fri, 01 Oct 2021 -
Russia Overtakes KRG As Israel’s Top Crude Supplier For 2020
...plying a record stockbuild given lackluster demand (MEES, 4 September) – imports fell back to 208,000 b/d last quarter according to data intelligence firm Kpler. That marked the lowest quarterly figure since Q4 2017’s 197,500 b/d. Israel has had considerable success in diversifying its import slate si...
Volume: 63Issue: 43Published at Fri, 23 Oct 2020 -
Turkey’s East Med Drilling Campaign: Politics By Other Means
...le in the wider region. The 2017 collapse of internationally-mediated talks in the Swiss resort of Crans Montana to unite ethnically divided Cyprus also provided a fig leaf for stepping up activity in Cyprus’ waters. LITTLE OFFSHORE EXPERIENCE Until its recent acquisitions of dr...
Volume: 63Issue: 41Published at Fri, 09 Oct 2020 -
Lebanon-Israel Talks
...d Russia’s Novatek still bid (and were awarded) Lebanon’s Block 9 in 2017 – though the French giant explicitly noted it wouldn’t drill within disputed waters (MEES, 16 February 2018). The first well is expected early next year following the consortium’s flop in Block 4 earlier this year (MEES, 1 Ma...
Volume: 63Issue: 40Published at Fri, 02 Oct 2020 -
Putin Mideast Tour Shows Off Russia’s Expanded Regional Influence
...esident Vladimir Putin’s first visit to Saudi Arabia in more than a decade and followed King Salman becoming the first Saudi monarch to visit Russia in 2017 (MEES, 6 October 2017). President Putin referenced that historic trip upon arrival in Riyadh on 14 October: “your first ever visit to Russia in Oc...
Volume: 62Issue: 42Published at Fri, 18 Oct 2019 -
Turkey Ups Cyprus Ante By Drilling South Of The Island
...sitant to restart talks after the failure of a summit in the Swiss resort of Crans-Montana in 2017. Turkey’s actions could be the catalyst that pushes the Greek Cypriots to get back to the table, with Ankara looking unlikely to back off until a solution is found....
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Turkey Deployment To Reshape Syria Conflict
...fineries or ‘exported’ to regime-held areas. Estimates of current output from the Kurdish-held region vary. But MEES puts current production at 60,000 b/d. SDF operations against Islamic State militants saw Kurdish forces take nearly the entire east bank of the Euphrates in the second half of 2017. The ar...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Egypt, Ethiopia Hit Dam Deadlock
...uld prove to be a blessing in disguise, giving Ethiopia and Egypt time to come to a compromise. Slated to be complete in July 2017, the most recent delay came in April last year when Ethiopia’s newly elected Prime Minister Abiy Ahmed launched investigations into key projects awarded by his pr...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Iran Confident Jask Terminal On Track For 2021 Start
...ippage. At 1mn b/d, Jask will be Iran’s second largest crude export terminal upon completion, behind the Kharg Island facilities which Iran puts at a massive 8mn b/d (MEES, 30 June 2017). Condensate meanwhile is exported from the Assaluyeh terminal. While Jask’s location outside of the Strait of Ho...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Saudi Investment Summit Falls Short As Vision 2030 Stutters
...bn year-on-year from $166bn in 2Q 2017 to $195bn for the same period this year. But non-oil’s share of this fell below 70% as its $10bn gains were half that of oil-GDP’s $20bn increase (see chart 1). The hold oil has on the economy is even clearer to see when turning to export revenues. Oil re...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Pakistan Bags Saudi Economic Assistance
...nt 73,000 b/d in the 2016-17 financial year (to June 2017). However, Pakistan is also in the tricky spot of relying on Saudi rival Qatar for its growing LNG supplies (MEES, 31 August). Qatar supplied 84% of Pakistan’s 4.6mn tons in 2017 and of the 8 cargoes Pakistan has received so far this mo...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Syria: Gas Output At 75% Pre-War Levels, Oil Recovery Lags
...e third day to repair,”a senior manager at one of Syria’s state oil firms tells MEES. “So today, even with the damage suffered, I can assure you that our network is good and operating at full capacity.” Islamic State militants blew up the Hayan plant in early 2017. Repairs there are currently on...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Iraqi Government Formation Gathers Pace
...om within the Kurdistan political establishment may be little more than tepid. His support for last year’s controversial independence referendum (MEES, 22 September 2017) was cool at most: the dominant Kurdistan Democratic Party (KDP) backed Mr Masum for the presidency. On the international stage it...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
KRG Vote: No Change
...aq’s May elections and September 2017’s controversial independence referendum) and concerns over corruption. Indeed, allegations of election fraud since the polls are rife. The duopoly of the dominant Kurdistan Democratic Party (KDP) and the Patriotic Union of Kurdistan (PUK) was further entrenched as...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Iran Awards Key Contract For Strategic Hormuz Bypass Project
...ports – overwhelmingly from Kharg Island, with small volumes from nearby Soroosh – averaged 2.1mn b/d in 2017, alongside a further 490,000 b/d condensate from Assaluyeh, for a combined 2.6mn b/d. But with the imminent return of US oil-sector sanctions after 4 November, Iran’s oil exports have already be...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Iraq’s Kirkuk Deployment Reshapes KRG’s Oil Sector
...sesses the situation. KRG’S LOST KIRKUK OUTPUT NEARLY HALVES PRODUCTION ('000 B/D) *CURRENT OUTPUT. ^OPERATED BY IRAQ’S NORTH OIL COMPANY SINCE 16 OCTOBER 2017. SOURCE, MNR, COMPANY STATEMENTS, MEES. PREPAYMENT OBLIGATIONS ADD COMPLEXITY Unless the KRG opts to slash already low re...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
On Iran, Trump Opts for Uncertainty
...the first five months of the current fiscal year (from 21 March), which itself is insufficient (MEES, 20 October). EU CRUDE SALES PROVIDE ESSENTIAL RELIEF Iranian crude sales have risen around 15% in 2017 according to the government’s submissions to the Riyadh-based Jodi institute. Crude ex...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017