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Israel Crosses More Red Lines With Doha Airstrike
...E President’s visit to Doha was especially notable. Not just because the UAE was a key player in the 2017-2021 Qatar embargo (MEES, 8 January 2021), but because it is the most prominent signatory of the Abraham Accords with Israel. Next week marks the fifth anniversary of the Abraham Ac...
Volume: 68Issue: 37Published at Fri, 12 Sep 2025 -
Iran’s Oil Exports At Post-Sanctions Record
...NDENSATE. ^SEIZED CARGOS. ^^MOSTLY TO CHINA SINCE 2018. SOURCE: KPLER (2017-18), UANI (2019>), MEES. Unlike in the pre-sanctions era, Iran is overwhelmingly reliant on China for its exports, to the tune of 85% in volume terms for 8M 2023 and likely substantially more in revenue terms given that ca...
Volume: 66Issue: 36Published at Fri, 08 Sep 2023 -
Qatar Trade Patterns Three Years Into The Embargo
...plomatic relations with Qatar on 5 June 2017 and imposed an economic embargo that remains in place to this day. Qatar was forced to reshape its trade links in order to withstand the embargo (MEES, 9 June 2017) and three years later trade patterns have changed considerably. The situation has normalized to...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
PIF Muscles In On Aramco Amid Oil Sector Shakeup
...r Saudi Arabia’s struggles to secure the foreign investment inflows required to boost economic diversity. Whether Mr Khorayef is likely to achieve more success than Mr Falih is far from clear. After all, investors have been deterred by the fallout from the Jamal Khashoggi killing and 2017’s in...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Iran Oil Exports Go Dark As Sanctions Loom
...VE SINCE DROPPED BELOW 2MN B/D* (‘000 B/D) *AUGUST FIGURES ARE MEES ESTIMATES EXCEPT FOR JAPAN & SOUTH KOREA. SOURCE: IMPORT STATS, MEES. EUROPE STRUGGLING TO REPAIR IRAN DEAL After averaging 570,000 b/d over the course of 2017, EU imports from Iran have now fallen be...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Egypt Sees End To Water Tension With Ethiopia: Is It In Denial?
...sastrous. A 2017 study from the Geological Society of America (GSA) estimates that during the GERD fill period, Nile flows could fall by 25%, reducing the electricity generated by Egypt’s own 2GW capacity Aswan Dam by 33%. The GSA sees Egypt facing “serious country-wide freshwater and energy shortage by 20...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Iraq’s Baiji Refinery Restarts Amid Security Concerns
...lahuddin-1 restart would be just a few months after Salahuddin-2. But rehab efforts at Salahuddin-2 required scavenging parts from Salahuddin-1, likely extending the timeline. And these efforts were already significantly delayed. In December 2017 he estimated both units would be online in around six months (ME...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Libya: Exports Up But Loading Uncertainty Means More Goes Long-Haul
...ditional four 1mn barrel cargoes headed for China, it also saw the first ever Libyan cargo sail for Taiwan (Sharara crude from Zawiya port) and 1mn barrels from Zueitina headed for Malaysia. China rose to become Libya’s fifth largest crude customer for 2017 with 65,000 b/d (MEES, 6 April) – behind the Me...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Libya Oil Revenue: Up 80%
...Libya’s oil output and exports remain anything but stable. But output, at 920,000 b/d for the first seven months of 2017, was up 24% on the same period a year earlier whilst oil prices, at just shy of $70/B for Libya’s Es Sider crude, were up 40% over the same period. Added together this ha...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
KRG’s Troubled Waters
...0 B/D) 2017* vs 2016* 2014 2015 Tawke 111.0 3....
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Assad Looks To Rebuild As Syria War Enters Final Act
...maged by IS rockets launched during the Palmyra offensive in early 2017. Small-scale production of 35mn cfd at Ebla resumed this month: Mr Ghanem optimistically claims this will ramp up to 75% of pre-war production, 66mn cfd, by 2018. Gas production is crucial to meeting Syria’s domestic power de...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Algeria To Step On The Gas: Max Revenue For Minimal Spend Amid Opec Constraints
...ficials in Algeria said that in theory cuts to production could be shared between all the country’s oil producers (MEES, 17 February). But operational reports for the first two quarters of 2017 from Algeria’s foreign partners make no mention of official requests to limit output. Rather, the in...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Iraq: Minister Luaibi Tightens Grip On Oil Sector
...rchasing the June 2017 cargo at a $0.31/B premium to the official selling price (OSP). It then established the Lima joint venture with Litasco – trading arm of Russia’s Lukoil – in May to trade 2mn barrels per month of Basra Light (MEES, 26 May). The possibility of a new Basra Medium grade was also floated by...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Qatar’s Economy Proves Resilient As Embargo Enters Fourth Month
...e causing delays and additional expense, but nothing that looks likely to prompt Qatar to alter course (MEES, 7 July). Qatar’s economy is proving resilient and the IMF still sees the budget deficit easing considerably from 2016. In a 30 August statement, the IMF projected that Qatar’s 2017 de...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Iraq Hopes For IPSA Pipeline Access With Riyadh Rapprochement
...velopments in recent months. A number of high level visits have been held in 2017. Saudi Foreign Minister Adel al-Jubeir visited Baghdad in February – the first such visit since 1990 – and Mr ‘Abadi met the Saudi King in Riyadh in June. Then in August an agreement was reached to reopen the border cr...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
Lukoil’s West Qurna-II Output Holds Steady
...maining 25% is held by the state-owned North Oil Company. Output over the first half of 2017 averaged 400,000 b/d, against 412,500 b/d in the same period last year. Lukoil attributes the slight fall to Iraq’s obligations under the November 2016 Opec agreement, whereby Iraq pledged to cut production by 21...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
IS, Syria, Yemen – World Leaders Face ‘Crisis-Control’ On Multiple Fronts, IISS Says
...ipman. “Multiple strategic earthquakes” have left “world leaders in a constant state of crisis control.” As a result, said Mr Chipman, “foreign policy has become and will continue to be in 2017 a branch of psychology. Managing competing interests or settling neat balances of power…will be superseded by th...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
Kurdish Political Unity Fragments As Barzani Reaches Out To Baghdad
...litics is becoming increasingly fractious and there is a growing geographical split between the KDP-dominated Erbil and the PUK/Goran-stronghold of Sulaymaniyah. With parliamentary elections due by September 2017, the region’s political stability could deteriorate further. Its demise was the cu...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
Iraqi Finance Minister Sacked, Deepening Political, Financial Crisis
...th Iraq on drafting the 2017 budget. MP Najibah Najib, a member of the parliamentary economic committee, said on 18 September that the IMF had told Iraq to increase the oil price assumption in the first draft from a pessimistic $35/B to $43/B for 2017, with crude oil exports projected at 3....
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Iraq’s Embattled Government Under Fresh Pressure
...ess conference on 23 August, that the cabinet was ahead of schedule on budget planning and had met that day to discuss the 2017 budget (MEES, 26 August). In a separate statement from his office, he committed to sending the budget to parliament by mid-September. The 2017 budget will be set at an oi...
Volume: 59Issue: 35Published at Fri, 02 Sep 2016