DNO Injects Fresh Momentum Into KRG Oil Sector With Acquisition

...jority city of Mosul. ExxonMobil suspended operations at the block on 7 August 2014, before force majeure was then imposed. Documents released by WikiLeaks show that ExxonMobil and TEC put estimated oil in place at 580mn barrels. Should Baeshiqa prove commercially viable, it ought to be a simple ma...

Iraq Sparking Up Gas-Fired Capacity, Despite Fuel Supply Constraints

...quire 1.2bn cfd of gas. FEDERAL IRAQ PEAK POWER GENERATION (MW)   Plant type 2014 2015 2016 *20...

Kufpec Splashes The Cash in Norway But 2020 Target Remains Distant

...fpec’s net production edged up just 3,800 boe/d year-on-year in 2016 to 70,800 boe/d, still below 2014 levels (see chart). PRE-DATED PURCHASES      Add in the Thai purchase, and the 2016 gains will be more substantial, taking Kufpec’s overall output above 100,000 boe/d for the first time. But it ta...

Turkey 1H17 Gas Imports (Bcm): Iran On Track To Top Record 2014 Supplies But Still Less Than 1/3 Russian Volumes

Israel Products Output Down 17% Amid Maintenance, Strike

...vernment’s energy conservation measures began to take effect (MEES, 7 April). Increased use of gas has also been key to curbing Israel’s oil demand. Gas’ share of the power mix hit a record 55.4% in H1 2017, with Israel’s burning of fuel oil in power plants falling to virtually zero since 2014. Gas co...

China Crude Imports Grow At Record Rate: Can It Last?

...tensity,’ measured in megajoules per dollar (see chart). World Bank data to 2014 show this falling steeply, whilst data from China’s National Energy Administration (NEA), published 24 August, show a further 14.6% fall between 2013 and 2016, Reuters reports. In other words, China’s GDP growth figures of 6....

Iraq Hopes For IPSA Pipeline Access With Riyadh Rapprochement

...rkuk-Ceyhan pipeline) has been out of action since the IS advances of 2014. But July’s liberation of Mosul could result in Baghdad opting to repair this export link too. Talks have also been held with Iran over constructing a pipeline to export oil from Kirkuk via Iran. But this looks unlikely to be...

Libya Output Nears 500,000 B/D; Can The Gains Continue?

...ieste, Italy, linked by pipeline to OMV’s Schwechat refinery near Vienna (MEES, 23 September). The Ras Lanuf and Es Sider terminals have been shut in since the declaration of force majeure on 14 December 2014. The Es Sider terminal will take additional time before it is ready to come back on stream due to...

Israel Struggles To Attract Interest In Offshore Acreage

...U). …SECOND TIME LUCKY Despite Noble and Delek’s fanfare surrounding the deal and how it could pave the way to the sanctioning of Leviathan, it is worth recalling that a letter of intent with almost identical terms was signed in September 2014, before being canned just over a year later, when Jo...

Israel Struggles To Attract Interest In Offshore Acreage

...ble and Delek’s fanfare surrounding the deal and how it could pave the way to the sanctioning of Leviathan, it is worth recalling that a letter of intent with almost identical terms was signed in September 2014, before being canned just over a year later, when Jordan’s Energy Minister, Ibrahim Saif, un...

Abu Dhabi: Has It A Future As An LNG Exporter?

...Tepco reducing its offtake from Adgas to minimum contracted levels, as it has new supply sources at its disposal. Tepco has been taking new volumes from ExxonMobil’s Papua New Guinea LNG project that started in 2014, and has signed up to a number of Australian projects scheduled to start from next ye...

Abu Dhabi: Has It A Future As An LNG Exporter?

...Tepco reducing its offtake from Adgas to minimum contracted levels, as it has new supply sources at its disposal. Tepco has been taking new volumes from ExxonMobil’s Papua New Guinea LNG project that started in 2014, and has signed up to a number of Australian projects scheduled to start from next ye...

Iraq Looks To Breathe Life Into Nasiriya Refinery Project

...thin Iraq. The oil ministry’s Petroleum Contracts and Licensing Directorate (PCLD) “indefinitely” postponed bidding for the Nasiriya integrated project in June 2014 when Islamic State (IS) was making rapid advances across northern Iraq. The fighting never neared Nasiriya in the southern Dhi Qar pr...

Iraq Looks To Breathe Life Into Nasiriya Refinery Project

...thin Iraq. The oil ministry’s Petroleum Contracts and Licensing Directorate (PCLD) “indefinitely” postponed bidding for the Nasiriya integrated project in June 2014 when Islamic State (IS) was making rapid advances across northern Iraq. The fighting never neared Nasiriya in the southern Dhi Qar pr...

OPEC Agrees To Cut, Now The Hard Work Starts

...EC^ 2016 OIL EXPORT REVENUES ON COURSE FOR $750BN FALL FROM 2012 PEAK ($BN)   2010 2011 2012 2013 2014...

Kurdish Political Unity Fragments As Barzani Reaches Out To Baghdad

...om its agreement just two months previously to extend Mr Barzani’s term by two years, following its expiry, and it has subsequently taken a harder line with the KDP as a result. Provincial-level elections within Kurdistan, which coincided with federal parliamentary elections in 2014, had a more ev...

IOCs Stall KRG Investment On Renewed Payment Concerns

...15 2015 2014 2013 Kurdistan 5.1 -40.3 45.4 46...

Saudi Takes First Steps To Rein In Bloated Public Sector

...blic Investment Fund (PIF) which in turn is expected to spend money in the economy and boost domestic liquidity.  Although the plunge in oil prices has seen government revenues collapse from $279bn in 2014 to just $137bn under the 2016 budget, spending has fallen by much less. It has fallen just $69...

Iraq Plans For $42/B In 2017, Exports At 3.75mn b/d

...y the capital investment budget, the government will borrow ID6.5 trillion ($5.6bn) in order to make loans to businesses in agriculture, industry and housing. The government exhausted its own cash reserves in 2014, and has been able to continue paying public sector salaries – unlike in the KRG – on...

Abu Dhabi Ramps Up Offshore Drilling But Targets Remain Elusive

...Abu Dhabi’s offshore drilling is set to hit a new record in 2016 as it continues to invest despite the slump in oil prices since the second half of 2014. Despite this, offshore development plans are running behind schedule and there is a high likelihood of further delays. Abu Dhabi aims fo...