- Sort by:
- Score
- Published ▼
-
Oman: Oil Revenues Rebound Despite Slide In Exports
...at the refineries were running flat out with runs of at least 300,000 b/d. *Despite lower crude and condensate export volumes the near-$20/B rise in average crude prices to just shy of $70/B for 2018 meant that Oman bagged $20.1bn in export revenue, the highest figure since 2014 (see ch...
Volume: 62Issue: 03Published at Fri, 18 Jan 2019 -
Qatar Petroleum Eyes Big Results Overseas In 2019
...recognisable over the next 10 years (MEES, 8 December 2017). Its first overseas forays began with the formation of Qatar Petroleum International (QPI) in 2005 (MEES, 6 February 2006). But overseas expansion under QPI long-time CEO Nasir al-Jaidah was modest: after Mr Kaabi’s appointment in 2014, QPI was sw...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Kuwait Oil: Change At the Top As 2020 Target Dropped
...rgan was pumping at 1.7mn b/d. BP was brought in to help maintain production capacity at 1.7mn b/d with a technical service agreement (TSA) in 2014, which was subsequently upgraded to an enhanced technical service agreement (ETSA) in 2016 (MEES, 15 July 2016). Kuwait saw ETSAs as the best model fo...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Abu Dhabi Pledges Mammoth $132bn Investment With 5mn b/d Output Plan
...ly Saudi Arabia have long bemoaned the lack of global upstream investment since oil prices collapsed in the second half of 2014. Their take, alongside that of many key industry figures, is that the post-2014 collapse in final investment decisions (FIDs) on major upstream projects presages a shortfall in...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Repsol, BP & Eni Eye Algeria/Libya Border Bonus
...untry, one of just four awarded in Algeria’s most recent bid round in 2014. Boughezoul appears to have been the location of an Algerian exploration well drilled by Repsol in the first nine months of 2018 which produced a “negative result.” Repsol and Shell committed to drill two wells here: the fi...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
KRG-Baghdad Deal Needed To Unlock Northern Potential
...fore the recapture of Kirkuk: federal Iraq stopped exporting via its own Kirkuk-Ceyhan pipeline in April 2014 when Islamic State fighters entered the region, which forced Baghdad to strike a deal to export via the KRG pipeline in late 2014, facilitated by now-PM Mr. Abd al-Mahdi (MEES, 21 November 2014...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Iraq: New Government, Old Problems
...Adil Abd al-Mahdi was confirmed as Iraqi Prime Minister late on 24 October as he managed to secure parliamentary approval for the bulk of his cabinet nominees. His predecessor Haidar al-Abadi is undeniably bequeathing Mr Abd al-Mahdi a more stable situation than the one he inherited in 2014 (ME...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Back To The Future: Rehabilitation Of Red Sea Terminal Boosts Saudi Export Flexibility
...s been some time coming. Aramco’s 2014 Annual Review said “we completed 90% of the design package to de-mothball and integrate the Al-Mu’ajjiz Terminal.” Mr Qahtani, in his May 2017 interview, said the terminal was scheduled to be up and running this year, although the firm’s 2017 Annual Review cast do...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Iraq: Aging Infrastructure To Hinder Basra Gains?
...nistry to improve the terms of its technical services contract (TSC) at the supergiant field. BP’s initial plateau production target (PPT) was 2.85mn b/d but the British firm negotiated it down to 2.1mn b/d in 2014 (MEES, 12 September 2014). BP was rumored to be in talks to lower the PPT to 1.8mn b/d ea...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Omani Oil Output Nears 1mn B/D Mark, Revenues Soar
...lumes coupled with rising prices. MEES estimates that crude and condensate export revenues brought in $1.98bn in September – the highest figure since December 2014. 3Q’s sum of $5.63bn is up $2.09bn year-on-year - nearly 60%. Year-to-date revenues are up 35% on the same period in 2017, which will he...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Egypt Gas Hub Ambitions Gather Pace
...the end of June 2014, and institutional bureaucracy which kept them away. Prior to 2015, oil firms operating in Egypt were paid $2.65/mn BTU for the gas they sold the state. This pricing failed to take into consideration deeper offshore and more complex discoveries. BP held-off on sanctioning WN...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Abu Dhabi Field Startup Paves Way For New Crude Grade Launch
...me since 2014. The Joint Ministerial Monitoring Committee (JMMC) of the Opec+ agreement met in Algiers on 23 September and opted against increasing production limits. But apart from marginalized Iran, any UAE production increases are unlikely to prompt complaints. Umm Lulu output had been ex...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Iraq’s 200,000 b/d Halfaya Boost: Is There An Outlet?
...July 2014 from 535,000 b/d to 400,000 b/d alongside similar adjustments to Iraq’s other major foreign-operated fields (MEES, 5 September 2014). Once Halfaya production hits full capacity – likely by early 2019 – it will become the first of Iraq’s main foreign-operated fields to do so, although it...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Qayara Production Resumes
...eld was captured in 2014 and subsequently operated by IS (MEES, 17 October 2014). It suffered extensive damage to its wells and infrastructure as IS retreated following Iraq’s operations to retake the area in August 2016. Given the extent of the damage and the fact that Qayara previously peaked at 20...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Iraq: Soaring Domestic Oil Demand Will Test Next Government
...cords. Prior to the IS advances, Iraq’s products consumption averaged 521,000 b/d in the first half of 2014 before slumping to 429,000 b/d for 1H 2015 – a direct result of the IS occupation. Not just is Baghdad now having to supply more products to its populace than pre-IS, but it is having to do so wh...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Egypt Gas Output At Record High As Zohr Hits 2BN CFD
...NDENSATE OUTPUT (‘000 B/D): MED OUTPUT RETURNS TO EARLY 2014 LEVELS AFTER SLUMP SOURCE: EGPC, MEES....
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Israel Reviews Upstream Rules: Too Little, Too Late?
...rtfolio were dealt a blow by a subsequent 2014 ruling by Israel’s Antitrust Commissioner which forced both firms to sell off part of their Israeli interests – a process still ongoing (MEES, 15 May 2015). Needless to say this added further to the regulatory uncertainty which has stymied investment. One fi...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Oman Eyes Exciting Oil Potential As Production Limits Ease
...erage 550,000 b/d production. In 2014 PDO implemented a five-year plan to hit 600,000 b/d in 2019 which the firm surpassed ahead of schedule in 2016 (MEES, 24 June 2016). Crucially, the state firm has managed to whittle natural decline down to an annual figure of less than 5% and is now seeing ex...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Iraq Crude Exports Smash Record As Protests Grip Basra
...hieved thanks to higher oil prices – benchmark Basra Light was up 38% year-on-year over the first half of the year – accompanying the record export levels. The $7.73bn that Iraq earned in August was the highest sum since July 2014’s $7.74bn. This is a major threshold for Iraq given that July 2014 was the la...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Kurdistan Oil Sector Outperforming Expectations in 2018
...likely, but the 10,000 b/d production facilities are relatively close to a light oil discovery by Total and US firm Marathon that lies within the same current block (Block 11). The 43°API discovery at the Jisik-1 well in the now-defunct Harir block flowed at 6,100 b/d according to Total in 2014 (MEES, 5 De...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018