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Libya Oil Output Breaches 1mn B/D
...th US firms Marathon, ConocoPhillips and Hess, has also fallen short of NOC targets. The state firm had the Waha consortium down for output of about 120,000 b/d by June, but it has been struggling to produce 80,000 b/d since it came back onstream in September 2014 after a hiatus of almost two years (ME...
Volume: 60Issue: 27Published at Fri, 07 Jul 2017 -
Iraq: Bumper Oil Export Volumes Cushion Impact Of Oil Price Drops
...17 2016 2015 2014 Gulf ('000 b/d) 3,247 +5 +1 3,...
Volume: 60Issue: 27Published at Fri, 07 Jul 2017 -
Delek Looks To Raise $1.2bn With Tamar Sell-Off
...rael’s key offshore fields. A December 2014 anti-trust ruling (MEES, 2 January 2015) was subsequently watered down, but even so operator Noble has to reduce its stake in Tamar to 25% by end-2021, with Delek required to completely dispose of its stake by the same date (MEES, 1 April 2016). HOLDING ST...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
US Shale Output Soars But Permian Productivity Falling
...oductivity metric has fallen for every month since, to 627 in May and a projected 617 and 602 in June and July respectively. The latter figure would take productivity back to numbers last seen in March 2016, though it remains at three times 2014 levels. Of course the Permian ‘rig count’ continues to ri...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Troubled Waters: GCC Internal Schisms In The Spotlight Again
...milar accusations leveled at it from multiple fronts. Saudi Arabia appears motivated to try to clamp down on its smaller neighbor’s highly vocal independent foreign policies that refuse to adhere to Riyadh’s line. This was also the case in 2014 when Saudi Arabia, UAE and Bahrain withdrew their am...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
UAE Gas Supplies: Qatar Dependence Remains Despite LNG Diversification
...eater LNG supply diversification As Dubai’s LNG buying picks up with the start of summer the emirate faces no shortage of supply options. Australian volumes more than quadrupled since 2014, hitting 265,000 tons last year, and while the UAE hasn’t bought any yet this year, this could change in the su...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Rig Count: Iraq Drilling Resurgent, Saudi Offshore Growth Slow To Materialize
...gs in Iraq (all are onshore oil rigs) hit a 17-month high of 51 in May. Drilling is still well down on 2014’s highs, but has been steadily increasing since the second half of 2016. How much further it will rise in 2017 is unclear as IOCs are still cautious on investment in Iraq. Shell has mo...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Tunisia Output Collapses: Southern Fields Shut In, No End In Sight To Protests
...in the wake of Tunisia's 2011 uprising. The lack of perceived benefits to locals from oil and gas output has been a recurrent theme. The Nawara project, previously known as the ‘South Tunisia Gas Project’ gave rise to protests in the south of the country even before it was sanctioned in 2014...
Volume: 60Issue: 22Published at Fri, 02 Jun 2017 -
Iraq Pursues Crude Capacity Gains As Revenues Rise
...20-2022. Mr Tealdi trumpeted Eni’s successes in boosting drilling efficiency. Last year saw 26 wells drilled using four rigs, against 21 in 2014 with 12 drilling rigs. It is targeting 32 new wells this year while maintaining just four rigs. Overall, there are currently 150 producing wells at Zubair, an...
Volume: 60Issue: 21Published at Fri, 26 May 2017 -
Libya Oil Output Set For Three Year High
...mbles on. As of 25 May, Libya’s average crude production for the month was about 770,000 b/d, surpassing every monthly average since October 2014 when output averaged 860,000 b/d. It is also a hike of more than a third on April output, when a shutdown at the Repsol-operated Sharara fields caused av...
Volume: 60Issue: 21Published at Fri, 26 May 2017 -
Tunisia: Key Gas Project Faces Further Delays As Unrest Grows
...en tied in as a producer (albeit likely at a significantly lower flow rate). But despite this modest boost gross output from Eni’s southern fields fell from 15,900 b/d in 2014 to 13,900 b/d in 2015 and 13,000 b/d last year. Eni says it has not been hit by the latest protests. However OMV has in re...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt Gas Boost Cuts Import Needs, But Self-Reliance Still A Distant Goal
...covery, with BP’s 1.5 tcf Atoll set to add a further 300mn cfd from mid 2018. But even with the Nooros and WND boost, Egyptian output is only back to early 2014 levels: it is still some 1bn cfd short of the near-6bn cfd average of 2011 and 2012 (see chart – the Nooros field which is in shallow water but dr...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Lebanon Bidding Risks Stalling Amid Major Pullback
...Lebanon’s relaunched offshore bid round risks flopping. With only five blocks on offer and three of these contested with Israel, the number of firms looking to operate has fallen to just six from 13 in 2014. ExxonMobil, Chevron and Shell are among those to have pulled back. Lebanon’s En...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
BP’s WND Starts Up
...e Libra and Taurus fields, which constitute Phase 1 of the 1.2bn cfd project, are currently producing 700mn cfd of gas and 1,000 b/d condensate “20% higher than the planned sales gas plateau,” BP says. This implies that Egypt’s gas output has hit 5bn cfd for the first time since January 2014 (se...
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 -
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 -
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 -
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 -
Morocco LNG Project Delayed, Future Gas Supply Strategy In Doubt
...nths. ADVISORS PICKED Morocco’s decision to revive LNG import ambitions in 2014 spurred a flurry of excitement, notably from a number of LNG suppliers keen to lock in future volumes in an increasingly competitive global market. In 2015, Morocco initiated talks with majors and energy companies in...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017