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Jordan: Zarqa Expansion
...id, according to Jordan’s official stats, oil demand fell from a peak of 155,000 b/d in 2014 to a five-year low of 133,000 b/d for 2015, an unlikely outcome given the country’s rising population. One possible explanation is that ‘official’ supplies are being augmented by smuggled products from ne...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Wintershall Dispute Takes Gloss Off Libya Production Peak
...Libyan output has topped 800,000 b/d for the first time since 2014. Output would be even higher were it not for a dispute with Germany’s Wintershall, says NOC. Crude production on 10 May was at least 800,000 b/d, according to officials from Tripoli-based National Oil Corporation (NOC), th...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Wins $1bn From SocGen, But Cases Highlight Shambolic Economic Governance
...ADERSHIP DISPUTES The issue over who heads the LIA has been long drawn out. Mr Breish was deposed as LIA head in June 2014 under Law 13, a measure passed by parliament in May 2013 that excluded those associated with the previous regime from participating in state functions. But he continued to be re...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Libya Investment Authority: A History Of Legal Wrangles
...The LIA lodged a lawsuit against French Investment bank Societe Generale in 2014. In this it claimed the relationship between it and SocGen through which the latter executed $2.1bn of trades on behalf of the LIA in the 2007-09 period was based on a “fraudulent and corrupt” scheme involving a $58...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Gulf Banking Ripe For Takeover Spree
...venues fell from a six-year high of $97.2bn in 2014 to just $44.3bn in 2016, a collapse of 54% (see chart). They are projected to rise back above $50bn this year but will still remain well short of 2014 levels. It’s a similar story elsewhere in the GCC, with Saudi crude revenues falling a staggering $15...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Oil Boost Raises Hopes In Libya, Perhaps Falsely
...Libya’s oil production ended April at about 760,000 b/d, up 50% from just over 500,000 b/d at the end of March, and the highest output since early December 2014. But such is the volatility of crude output in Libya that average production for the month of April as a whole, at 565,000 b/d, was th...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Iran: Condi Splitter Launch Promises Gasoline Self-Sufficiency – But When?
...January 2016. State refiner NIORDC expanded gasoline units at existing refineries with the aid of Chinese contractors and bulked out the fuel with additives from petchems plants – a practice that was halted because of growing pollution concerns (MEES, 25 April 2014). Gasoline imports fell to al...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Mena Renewables: Capacity Growing But At Half The Global Pace
... 2016 MW % MW % 2015 2014 20...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
OPEC, Will It Have To Cut Deeper For Longer?
...15 2014 S Arabia* 9.98 -0.08 10.06 +0.02 -0.42 9....
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
South Sudan Looks Beyond Total For Block B
...me to nothing (MEES, 22 August 2014). Reports have suggested that the UK’s Tullow Oil, heavily involved in exploration in neighboring Uganda, was the latest candidate for the empty stake in the block. PRODUCTION CHALLENGE Whatever happens with the blocks, it will not affect South Sudan’s pr...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Algeria Charts New Economic Direction. Is It Battling Against The Tide?
...blic debt increased,” said the IMF following the conclusion of its Article IV mission to Algeria on 20 March. Algeria’s trade deficit was a record $17.84bn in 2016 up from $17.01bn in 2015 and a surplus of $2.4bn in 2014. Of course the key variable here is the oil price (see chart, and table p5 for fu...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Kuwait Energy Reaps Reward From Iraq Investments
...April). EGYPT OUTPUT DECLINES FURTHER KEC’s Egyptian output has fallen 3,470 b/d year-on-year and is now below 17,000 b/d for the first time since Q1 2014. Output averaged just 16,340 b/d last quarter as it declined for the seventh successive quarter. The majority of KEC’s Egyptian ou...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Jordan Pushes Ahead With Oil Shale-Fired Power Plant, Lining Up More Solar
...so signed an agreement with Sacos, owned by a Saudi investor, which official news agency Petra said in March 2014 plans to deploy oil shale technology developed in Russia. Besides these potential oil extraction projects, Jordan’s energy ministry has a second power generation agreement, with Jo...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Algiers Aims For The Sun; Is Its Head In The Clouds?
...diterranean, but there has been no concrete progress. Desertec was one such scheme to bring power to Europe from the desert, but it has been considered defunct since 2012 (MEES, 3 April 2014). Although Algeria briefly flirted with the Desertec scheme, it has been reluctant to let go of its monopoly on el...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Services Firms See US Activity Boost, But Profits Remain Elusive
...venue. The three largest listed oilfield services firms have struggled to turn a profit since the beginning of 2015. They managed a collective profit of $190mn in Q1 2017, but this compares to a whopping $3.53bn in Q3 2014 just before oil prices tanked. The key ‘good news’ in the first three months of...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Iran South Pars Gas Output Soars 37% To Feed Domestic Hunger
...ich MEES estimates rose from 2.92mn b/d in January 2016 to 3.77mn b/d in March thanks to the lifting of sanctions. Much of these gains were thanks to gas injection at mature oil fields. Cedigaz estimates that in 2014 there was a 61bcm (167mn m³/d; 5.9bn cfd) shortfall in gas for injection. This is mo...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Iran Inaugurates Petchems Projects To Tap New South Pars Gas
...PE plants at Dehdasht and Kermanshah (MEES, 10 October 2014). Phase one of the ethylene pipeline involved installing 1,200km of pipeline with diameters ranging from 8-inch to 24-inch. A second phase of development, currently under way, will expand the system to 2,250km with capacity to deliver 2....
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Iraq Fires Up 1GW Gas-Fired Capacity But Is There Enough Gas?
...ad of 13.4GW in 2015, up from 12.3GW in 2014. One thing is clear: the inefficient burning of liquid fuel still dominates the power generation sector, despite a gradual rise in the gas share from 28% in 2013 to 36% last year (see table). The increased supply of gas to power plants comes both th...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Total And Sonatrach Bury Hatchet As Algiers Pushes Partnerships Agenda
...natrach… it’s business,” Mr Pouyanné said last year. Sonatrach retaliated by launching a counter-claim at the same court that Total had not honored its contractual commitments regarding the 4 bcm/y (390mn cfd) Ahnet tight gas concession, also in Algeria’s Saharan southwest, from which it pulled out in 2014...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Israel: Lots Of Gas But Where’s The Market?
...st 800mn cfd, fully exploiting such reserves requires substantial export deals. And despite a sheaf of LoIs – to Egypt, Turkey, Jordan, and most fancifully a pipeline to Europe via Cyprus, Greece and Italy – none have been finalized. So far a deal signed in February 2014 to supply Jordan’s Arab Po...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017