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Shell & Petronas At Odds Over Egypt Expansion
...indled from 1.2bn cfd in 2012 to around 500mn cfd now. The WDDM slump is the result of a combination of high underlying decline rates, underperforming wells and slashed investment amid soaring receivables in the years following Egypt’s 2011 revolution (MEES, 7 February, 2014). Shell in early 2018 dr...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Iraq Struggles To Find Developers For Mansuriya Gas Field
...nistry of oil, it really shouldn’t have. The field was originally to be developed under a 2011 contract by a consortium of Turkey’s TPAO (22.5%op), Korea’s Kogas (15%), and the Kuwait Energy subsidiary of Hong Kong based United Energy Group (UEG 22.5%) alongside state-owned Oil Exploration Company (OEC 25...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Saudi Arabia’s Oil Sector In 2020: Assessing A Tumultuous Year
...mand of 455,000 b/d was the lowest since 2011 and down 17% year-on-year. Demand bottomed out at 231,000 b/d in April amid tight Covid-19 mobility restrictions and while it rebounded to 530,000 b/d in October, it exited the year at 488,000 b/d. The impact on diesel demand was more muted due to the fu...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Spain 2020 Crude Imports: Record Low Mena Share Amid Libya Collapse
...lumes of 181,000 b/d were the lowest on record, whilst the North Africa total of 63,100 b/d was the second lowest after Libya’s revolutionary year of 2011. *Spain’s top two suppliers, Nigeria with 220,000 b/d, and Mexico on 160,000 b/d, were the same as 2019, whilst Libya’s collapse saw Saudi cl...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Egypt Oil Output Plumbs New 40-Year Low For 2020
...nai). *The Western Desert, which overtook the Gulf of Suez region as Egypt’s key production area in 2011 and has provided over half of production since 2014, saw output fall 7% to a 9-year low of 321,000 b/d for 2020. December’s 290,000 b/d was the lowest monthly figure since May 2010. This comes as the re...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
KRG: DNO Buys Out Exxon At Baeshiqa, Eyes Development
...ce its exit from the block is finalized, it will be left with just the Pirmam block where it confirms that it still retains its 80% operating stake. The US supermajor initially signed up to six blocks, including Baeshiqa, in a controversial 2011 deal. Not only did Baghdad oppose the signing of ag...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
Libya’s Power Sector In A Race Against Time
...vember 2020) though more is needed. Power supply shortages have been a huge problem since the 2011 revolution and the chaos that followed (MEES, 21 January 2019). But capacity was flagging even before the uprising: one unit of the 480MW Khoms steam turbine plant hasn’t been overhauled since 1996. Ma...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Qatar Export Revenues Fall 30% In 2020
...s current level of 77mn t/y in 2011. The figure is considerably lower than at the height of the collapse precipitated by the oil price slump from late 2014. Then annual revenues bottomed out at $57.3bn in 2016 (see chart 1). However, Qatar has had considerable success in reducing its import tab in...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Exxon Looks To Partner Up In Egypt
...rt of Shell’s giant North East Mediterranean (Nemed) block where the Anglo-Dutch major drilled 10 wells between 1999 and 2011 including 2001’s Leil-1 on the Star acreage which hit sub-commercial quantities of gas. One key change since then is that Cairo has since hiked the amount paid for gas ou...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Libya’s Oil Revenues Plummet To $6bn In 2020
...ED BETWEEN 2011-17 DUE TO LACK OF NOC DATA. INCLUDES GAS EXPORT REVENUE, PRODUCTS SALES, ROYALTIES AND TAX. ^KPLER. SOURCE: OPEC ASB, CBL, NOC, KPLER, MEES. 2: LIBYA’S 2020 OIL & GAS INCOME ($BN): NOC STOPPED TRANSFERRING FUNDS TO CBL IN SEPT, LEAVING $2.1BN FROZEN IN THE LIBYAN FOREIGN BA...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Gas Plant Inauguration Boosts Iran’s Petchems Outlook
...t to go-ahead (MEES, 10 October 2014). As MEES wrote at the time, Iran was struggling with gas supply issues that called its ambitious petchems expansion into question (MEES, 31 January 2011). The easing of sanctions in 2015 following the JCPOA ‘nuclear deal’ gave an opportunity to bring foreign co...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Algeria’s Power Output Falls For First Time On Record In 2020
...are of renewables in the energy mix. Here, policymakers have talked a good game but grossly underdelivered. In 2011 Algeria announced plans to install 22GW of renewables by 2030. Fast forward nearly a decade and the country only has 448MW of solar PV (mostly off-grid), 10MW of wind and 228MW of hydro ac...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Libya Gas Exports Lowest Since 2011
...Libya’s gas exports to Italy fell to 430mn cfd in 2020, down 22% on the year. This is the country’s lowest gas export figure since the 2011 revolution when production shutdowns caused exports to plummet to just 215mn cfd. Libya is connected to Italy through the 775mn cfd Greenstream pi...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Tunisia Set For Crude Output Boost
...s been a key characteristic of Tunisian democracy since the 2011 revolution. Several IOCs have quit the country amid social unrest, a rapid turnover of governments and a difficult business environment (MEES, 14 December 2020). And those that remain can’t be too enthusiastic about the immediate fu...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Syria Oil & Gas: No Progress
...r in 2011). This shows little-if-any progress from a year ago (MEES, 17 January 2020) despite plans to grow production from retaken oil fields to 100,000 b/d. Gas output appears to have actually fallen, with current production at 450mn cfd against around 580mn cfd a year ago. Recent attacks on ga...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Sonatrach’s $40bn Five-Year Plan: Spending Is Not Enough
...S 2016 HIGH SOURCE: JODI, MEES. 3: ALGERIA COMPLETED CLOSE TO 1300 DEVELOPMENT WELLS BETWEEN 2011 AND 2019 SOURCE: SONATRACH, MEES. 4: ALGERIA MADE 271 OIL AND GAS 'DISCOVERIES' BETWEEN 2011 AND 2020 ENDLESS EXPLORATION Algeria’s rig co...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Korea, Taiwan 2020 Crude Imports: Volumes Down, Mideast Down Further
...nual figure since 2011, with Q3’s 284,000 b/d the lowest quarterly figure since 2010. Number three Iraq saw volumes fall 34% to a six-year low 220,000 b/d, whilst number four the UAE saw a 15% fall to 206,000 b/d. *As recently as 2017, Iran was Korea’s number three supplier (behind Kuwait). Bu...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Qatar Keeps Crown As Largest LNG Exporter For 2020
...art 3). India emerged as Qatar’s largest LNG client last year (see chart 4), taking 10.8mn t/y as it outstripped No.2 South Korea for the first time since 2011. Four of Qatar’s top five buyers last year were from Asia. The UK grabbed the fifth spot, but according to Kpler, Qatar’s most recent shipment th...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Exxon’s Star Shines Brightest Among Egypt’s Slew Of Mediterranean Awards
...tch major Shell’s former giant North East Mediterranean Deepwater (Nemed) block. Shell acquired Nemed in 1999 before relinquishing it in 2011, but not before it drilled a total of ten wells across the acreage. Though just one of these wells, 2001’s Leil-1 which discovered “non-commercial” qu...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Egypt Gas Output Rebounds As Oil Slumps To Record Low
...diterranean gas output to within 200mn cfd of the monthly record 4.57mn cfd at the 2011 height of output from Shell’s West Delta Deep Marine. WDDM is in long-term decline. The latest gains have come predominantly from Eni’s giant 21.5tcf Zohr field where capacity hit 3.2bn cfd in April, but for the bulk of 20...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021