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Egypt Refining Runs Rise To Record High
...22 were the lowest since 2014, whilst Egypt’s overall oil products imports of 144,000 b/d were also less than half 2016-17 levels (see chart 2). Egypt’s overall oil products demand has been edging up to its highest levels since around 2018 – even when excluding this year’s sharp uptick in fuel oi...
Volume: 65Issue: 39Published at Fri, 30 Sep 2022 -
Shell’s Incoming CEO Set To Oversee Streamlined Mena Growth
...adership of CEO Ben van Beurden, who has been at the helm of the major since 2014. Rather than turning its back on the region, Shell has instead focused its efforts on a small number of core countries and is now turning its focus onto regional expansion. Incoming chief executive Wael Sawan takes over th...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
China Crude Imports: Mideast & Russia Both ‘Winners’ For Now
...are of 53.3% for 8M 2022 puts this year on track to top the previous record high of 52.2% set back in 2014 (see chart 1), especially as a 55.5% share for August shows there is no sign of the region losing ground. So if the Middle East is up, and Russia is up, whilst overall volumes are falling, th...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
Aramco CEO: Flawed Assumptions Promise A Hard Winter For Europe
...spite oil prices spending months well above $100/B. “Oil and gas investments crashed by more than 50% between 2014 and last year, from $700bn to a little over $300bn. The increases this year are too little, too late, too short-term,” bemoaned Mr Nasser at the Schlumberger Digital Forum 2022. Co...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
Lebanon Blocks 4 & 9: Qatar Energy To Replace Novatek?
...19 Glaucus discovery – and the recently-awarded Block 5 (MEES, 22 April). A recent diplomatic rapprochement with Egypt, with President Sisi this week visiting Qatar for the first time since taking office in 2014, also lays out the prospect of further investment in the region’s leading gas producer. Qa...
Volume: 65Issue: 37Published at Fri, 16 Sep 2022 -
Egypt’s Western Desert Output Hit By Rig Delays As Gas Drilling Shunned
...the lag between handing over produced volumes to the state firm and EGPC paying for them. And though total receivables remain a far cry from the $6bn-plus figure that EGPC owed in 2013 and 2014, latest corporate filings show that dues are again edging higher – perhaps not surprisingly given Eg...
Volume: 65Issue: 36Published at Fri, 09 Sep 2022 -
Iraq’s Parliamentary Speaker Proposes Roadmap To End Political Chaos
...so in 2014 when ISIS took over large swaths of the country and in 2020 when the country was hit by the triple shocks of Covid, an oil price collapse and political turmoil. With no government yet formed, the prospects of a fourth year without a budget are looming for 2023. Even passing another em...
Volume: 65Issue: 36Published at Fri, 09 Sep 2022 -
Libya’s NOC Moves To ‘Save’ Key Oil & Gas Project
...(MEES, 27 November 2020). The development has since 2014 been operated by the Nafusah Oil Operations consortium consisting of Medco (24.5%op), Libyan Investment Authority (LIA 24.5%) and NOC (51%). In a bid to “save the project”, Mr Bengdara has, according to Mr Sanalla, set up a committee to ne...
Volume: 65Issue: 35Published at Fri, 02 Sep 2022 -
Qatar Export Revenues Surge Above $12bn
...As Europe’s gas crisis rumbles on, gas exporters are cashing in. Qatar’s export revenues topped $12bn in July for the first time since early 2014 and the gains could keep coming. Qatar’s export revenues jumped to $12.18bn in July, driven largely by its gas sector, enabling a mammoth $9....
Volume: 65Issue: 35Published at Fri, 02 Sep 2022