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Libya: Fractured Institutions Fail To Distribute Oil Revenue Gains
...anches of Libya’s key economic institutions in Tripoli and the east of the country to cooperate (see box): a trick that since the 2014 split in the country’s government neither the UN Libya mission nor the institutions that it has backed have managed to pull off. ...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Libya’s Ongoing Institutional Splits
...Tripoli. But following the split in the government in 2014, a rival branch was set up in Baida. Baida’s current ‘governor’ is Mohamed Shukri, sworn in by the House of Representatives (HOR), the official parliament, on 29 January but rejected by the upper house, the High Council of State. • The tw...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
US Scales Back Output Growth Projections
...2018 import volumes are level with 2017 and well up on 2014’s 29-year low of 7.34mn b/d. Opec’s share of US crude imports did, however, fall to a record low of 31.6% in May Having slid to a 30-year low of 706,000 b/d in the second half of 2017 volumes from Saudi Arabia have recovered somewhat si...
Volume: 61Issue: 32Published at Fri, 10 Aug 2018 -
Iraq Takes On Mansuriya
...nders in early 2014 (MEES, 28 February 2014), whilst later that year Islamic State attacks across Diyala province forced TPAO to halt operations (MEES, 10 October 2014). Despite a relatively high remuneration fee of $7/boe in the technical service contract, the stakeholders fell out with Baghdad ov...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Egypt Goes West And Digs Deep In Quest For Oil Output Boost
...creases in Apache’s Western Desert output have come from the 2014 Ptah and Berenice discoveries on the Shushan and Faghur basins respectively, which were hailed as the firm’s largest finds in Egypt in 13 years (MEES, 3 April 2015 ). The fields now produce around 30,000 b/d. Italy’s Eni, on the back of...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
CNPC Hot Favorite In Abu Dhabi Opening As Adnoc Eyes Chinese Downstream
...though it was inaugurated in July 2012, this was largely symbolic (see p10) due to engineering problems which persisted for some time. But all appears to have been forgiven. First CNPC was awarded a 40% stake in the Al-Yasat JV with Adnoc (60%) in 2014. This started producing crude from the offshore Bu...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Libya: Terminals Reopen, Instability Remains, Haftar Strengthened?
...Egypt, the UAE and to an extent Russia. The US responded to an attempt by Mr Jathran to sell an illicit crude cargo in March 2014 by intercepting the North Korea-flagged vessel (MEES 21 March 2014), but “the Americans will never ever stop a Russian – or Egyptian or UAE – flagged ship,” says Pu...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018 -
Iraq Oil Revenues Soar But Stretched Southern Export Capacity Caps Gains
...port revenues – the first time since August 2014 that Iraq has recorded back-to-back months in excess of $7bn. MEES estimates that if export volumes and prices remain stable throughout 2018, Iraq’s annual earnings will be close to 2014’s $84.12bn, though still well shy of 2012’s record $94.03bn wh...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018 -
Saudi-Kuwait Neutral Zone: Supply Concerns Spur Restart Rumors
...2012, falling to 255,000 b/d in 2013 and just 140,000 in 3Q 2014, the last full quarter of production (see chart). Meanwhile, the PNZ’s onshore portion is managed by a JV of KGOC and Saudi Arabian Chevron. Output here averaged 190,000 b/d in 1Q 2015 before operations were halted that May (ME...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018 -
Iraq Crude Output Gets Pipeline Repair Boost
...om the current 200,000 b/d. Daura is the second largest operational Iraqi refinery after the 210,000 b/d Basra refinery – following the destruction of the 310,000 b/d Baiji plant by the Islamic State (IS) in 2014. The government is working on rehabilitating Baiji, but progress is slow. The re...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Qatar Embargo One Year On: Anatomy Of Resistance
...NDENSATE HAVE REBOUNDED FROM 2Q 2017 LOWS (‘000 B/D) *ESTIMATE BASED ON ANNUAL IMPORTS FOR CHINA 1Q 2013 - 2Q 2014. SOURCE: IMPORT STATS, MEES....
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Bahrain Takes $300mn Oil Revenue Hit From Abu Safah Outage
...oduction edged up to a record 2.08bn cfd in 2017, beating 2015’s previous high of 2.06bn cfd. However, gas re-injection rose 6% to a new high of 600mn cfd, reducing the volumes of sales gas to 1.47bn cfd – below 2014’s 1.50bn cfd record. That gas reinjection levels rose to a new high despite a no...
Volume: 61Issue: 22Published at Fri, 01 Jun 2018 -
The Dragon Rises In The Middle East
...stream sector (MEES, 23 March). Conversely, China’s dependence on the Middle East for more than 40% of its oil imports (though this is down from 52% for 2014), means that the region is strategically crucial for Beijing. Having Chinese firms participating in the production of these imported volumes af...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
China’s Anton Oil Expands Iraq Presence As Shell Exits
...th BOC on 11 May, thereby lowering its PPT from 1.2mn b/d to 800,000 b/d by 2025. Current output stands around 400,000 b/d, which Lukoil vows to increase to 480,000 b/d by 2020. The Russian giant had already managed to renegotiate its PPT down once before, from 1.8mn b/d to 1.2mn b/d in 2014. ...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Qatar Plans For 2019 Drilling To Fuel Massive LNG Expansion
...ceeded 14mn tons in Q1 2018 for the first time since Q1 2014, although March data is not yet available for India and Taiwan. The increase was driven by China, which imported a record 2.92mn tons, up 1.1mn tons year-on-year, as its insatiable appetite continues to grow. South Korea also saw a 780,000 to...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Egypt’s Western Desert: Is Capex Boost Enough For Output Rebound?
...e second half of 2014. But the rebound in oil prices over the past year has seen key regional producer Apache double capex to $156mn for 1Q 2018 from the low of $78mn plumbed in 3Q 2016. With spending having averaged $154mn for each of the last three quarters, up from $83mn for the same period a ye...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Oman: Khazzan Boosts LNG Exports To Record Levels
...0,000 tons from Oman, the highest volume since Q1 2014 (see data, p14). South Korean imports fell slightly in the Q1 compared with Q1 2017, down 290,000 tons to 1.2mn. The last three years have seen Oman move away from its almost exclusive dependence on the two import markets. In 2012 and 2013, So...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Kuwait Presses Ahead With Development Plans, Eyes New Contract Model
...is, production had been around 500,000 b/d, of which 250,000 b/d was Kuwait’s share. Output would need to grow beyond those levels by 2020 if Kuwait’s target is to be hit, but merely a return to 2014-levels would be an achievement. This leaves all current capacity from the KOC fields: some 3....
Volume: 60Issue: 16Published at Fri, 20 Apr 2018 -
Adnoc Seeks Investment Injection With Six-Block Licensing Round
...shore) in 2014 and of the Adma concession in March this year offered Adnoc a unique opportunity to forge new partnerships. The firm signed its first upstream partnerships with six new firms from five countries, including key crude buyers India, China and South Korea (see table). Ties were also de...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Bahrain Eyes Unconventional Oil For Economic Reboot
...ngdom’s hydrocarbon reserves.” The tests, in the former-Block 4 license relinquished by US-firm Oxy in 2012, showed light 43°API oil from Hanifa-Tuwaiq Mountain source rock. Bapco’s 2014 report said it had engaged “a US-based consultant” to appraise onshore and offshore unconventional plays. Then in Se...
Volume: 61Issue: 14Published at Fri, 06 Apr 2018