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Rising Oil Exports Raise Questions Over Washington’s Iran Policy
...ndensates rose by close to 200,000 b/d in April versus March levels, to breach the 1.4mn b/d mark. By 2011 standards, this would represent a disastrous month for Iranian exports, which were then averaging upwards of 2.5mn b/d. Fast forward three years however, and the figures are still alarming – but fo...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
KRG Oil Export Plans All At Sea
...rsang since 2010. It has made two significant discoveries in the Swara Tika structure, the last of which was in 2011. But it did not declare commerciality until May this year, beyond the five-year exploration period specified in the production-sharing agreement signed in 2007. The delay soured re...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
Libya: Exports Down, Output Down, Violence Continues
...rf offshore fields is not sold to the international market, it would be the first time since 2011 that Libya ceased to export oil completely. Production, which averaged 200,000 b/d in April, edged up slightly to average 220,000 b/d in May, according to MEES estimates. However, this higher monthly av...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
Libya’s NOC Dreams Of Better Future
...l fields offline, the Libyan energy sector is undergoing its worst crisis since the revolution ground operations to a halt in 2011, at a time when the political situation is deteriorating. Earlier this month, former general Khalifa Haftar attacked Islamist militia in their bases in Benghazi, ba...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Output Continues To Slide As South Sudan Conflict Rumbles On
...rst time the two former civil war foes have cooperated on oil matters since the two countries split in 2011, under the terms of a ‘Comprehensive Peace Agreement’ signed six years prior. But far from doing it out of concern, Khartoum’s latest offer is almost certainly driven by a sense of economic se...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Tunisia: Hope Tempered By Strikes And Unemployment
...gures 2010 2011 2012 2013e 2014p 2015p GDP growth (%) 2.6 -1.9 3.7 2....
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Qatar Faces Cost Blow-Out In Drive To Redevelop Bul Hanine
...onouncements: in 2010, for example, QNB expected crude production capacity to reach 1mn b/d by the end of 2011. This change in tenor suggests that the bank grasps the current situation: Qatar’s heavy investment in crude production is designed to battle oilfield declines; little boost in output is expected over th...
Volume: 57Issue: 20Published at Fri, 16 May 2014 -
Iran Turns Up The Heat On Chinese State Energy Giants
...ntractor,” he said. “Due to the Chinese contractor’s failure to follow through on its commitments…the order to end its contract in the development of South Azadegan will be issued.” CNPC was awarded the $2.5bn contract in March 2011 (following an October 2009 MoU) to develop the field under a two phase de...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Syria: Subsidies Hit $1Bn; ‘Losses’ At $22bn
...vernment spent S£40bn ($268mn at the official exchange rate of $1=S£149) on energy subsidies in the first quarter of 2014; over $1bn on an annualized basis. The minister estimates total losses in the hydrocarbons sector since the beginning of the uprising in March 2011 at S£3,202bn ($21.5bn) – S£2,...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Iran Targets Joint Fields For 1Mn B/D Capacity Boost
...12, Iran’s crude oil exports have taken a significant hit, falling to as low as 800,000 b/d in October last year. This is down from an average of 2.5mn b/d in 2011. The country’s oil output also took a hit as a consequence of the sanctions, falling by around 1mn b/d since end-2011 levels. Iran’s oi...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
KPC 100KBD India Deal
...wait’s Top 3 Crude Buyers, 2011-14 (‘000 B/D)...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Palestine Moves Forward With Onshore Oil Bid Round Amid Difficult Politics
...ile the Meged-5 well initially produced about 800 b/d when it came online in 2011, it averaged just 400 b/d over its first two years. The geology is challenging for a small operator with low technical capabilities like Givot Olam, as the carbonate rock containing the targeted reservoir is poor; co...
Volume: 57Issue: 18Published at Fri, 02 May 2014 -
Algeria: Politics Unchanged, Oil & Gas ‘Must Do Better’
...cline in recent years; export volumes are being squeezed further by rising domestic demand. Crude production declined from 1.25mn b/d in January 2011 to 1.14mn b/d three years later, according to MEES estimates. And according to latest figures from the International Gas Union – of which Algeria is a me...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Iranian Oil Exports Take Nosedive In Sign Of Things To Come
...cific duo of Japan and South Korea, which each cut their purchases by more than 70% versus relatively high February levels. Both countries have cut imports sharply since sanctions tightened in mid-2012: Japan’s 2013 imports were 143,000 b/d down on 2011 and Korea’s 98,000 b/d. South Korea imported 71...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Tunisia: Oil Output Down On Political Delays
...cense to December 2014 (sic) “is pending formal ratification.” BG Tunisia Output (Net) 2010 2011 2012 2013 Oil (‘00...
Volume: 57Issue: 17Published at Fri, 25 Apr 2014 -
Iran Targeting Crude Output Hike Alongside Upstream Opening
...ude output averaged 2.82mn b/d over the first quarter of the year, down close to 800,000 b/d on 2011’s pre-sanctions output. Exports are also much depressed, averaging just 1.1mn b/d in 2013, from around 1.5mn b/d as recently as 2011, according to MEES estimates. But with a potential opening on th...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Oil Exports Resume In Eastern Libya
...Cs are less concerned about their ability to revive production should the export routes open up. While in 2011 fields were hastily shut down by workers escaping the fighting, last year pumps were shut in properly, and facilities have been maintained since. “The fields should come back fast, they al...
Volume: 57Issue: 16Published at Fri, 18 Apr 2014 -
Qatar Searches For New Gas As North Field Moratorium Set To Continue
...rmation, blocking gas flow. Recent development phases at South Pars have seen a dry hole and salt-water infiltration (MEES, 12 December 2011). IOCS Digging Deeper Despite the North Field moratorium, Qatar hopes to expand gas production further in a bid to meet the feedstock demands of its ambitious do...
Volume: 57Issue: 15Published at Fri, 11 Apr 2014 -
Focus Turns Back To Oil In Southern Sudanese Conflict
...s producing in January 2012, before it shut down the entirety of its crude oil production due to the dispute with Sudan over oil transit fees. The economic futures of South Sudan and its northern neighbor have remained inextricably linked despite their July 2011 break up – especially their oil in...
Volume: 57Issue: 15Published at Fri, 11 Apr 2014 -
Libyan Federalists Offer Fresh Hope Over Eastern Oil Exports
...st, putting the government under additional pressure. Production, which by last July had recovered to around 1.4mn b/d after a near complete outage during the 2011 revolution, now languishes at just 150,000 b/d. Federalist militia control the Es Sider, Ras Lanuf and Zueitina terminals, which ha...
Volume: 57Issue: 14Published at Fri, 04 Apr 2014