- Sort by:
- Score
- Published ▼
-
Middle East Refiners To Add 2.3mn B/D Capacity By 2022-IEA
...true of some Middle East refiners. Saudi Arabia started up 400,000 b/d of refineries in 2013 and 2014 and UAE started up a 417,000 b/d plant in 2015, all aimed at exports. The IEA says the pace of Middle East refining capacity expansion in the medium term will slow and also depend to a large ex...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Iraq: Abadi’s ‘Technocrat’ Reshuffle Plan Slim On Detail
...eceding government had distributed state-controlled properties to officials to buy support. As for the technocrat government, Mr Abadi did not give details, but sufficed with explaining his rationale. He argued that given that the key challenge when he was elected in September 2014 was the collapse in se...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
SEC Seeks $3.3bn More Funding, Bringing Total To $73bn
...kuk Sadara project 2.0 2014: January SEC Sukuk Capital projects 1.2 2014: March SEC Finance Mi...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
East Mediterranean Gas Faces Crucial 2016
...e hands of one consortium will only lead to an increase in prices. Progress in Israel’s gas sector was paused after the country’s antitrust chief in December 2014 labeled the consortium grouping US firm Noble Energy and Israel’s Delek a monopoly. Together they operate almost all of Is...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Skint, Petroceltic Sells Egypt Blocks
...re output is in freefall: from 105mn cfd in 2013, to 95mn cfd for 2014 and just 60-65mn cfd for 2015. And of course falling prices don’t help either (on the plus side Egyptian gas prices, though not those for associated liquids, are fixed; on the downside payments have been anything but prompt – see p1...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Algeria: 3 Bcm Gas Boost From In Salah Expansion
...n expect In Salah net gains, at least for a couple of years, of around 3 bcm/year, according to MEES estimates. Drilling of the 26 planned southern field wells began in 2014. “We'll be drilling until 2018, and wells will be brought on over time, which is typical for a tight gas project su...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Oman And BP To Expand $16bn Khazzan Gas Project
...% in 2014 and yet further last year (MEES, 8 January). The expanded Khazzan project would add considerable relief. There is also an agreement to import 10 bcm/year from Iran via pipeline, with gas expected to flow by 2018. Iranian officials have said around 30% of this will be re-exported from Om...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Adnoc Head Replaced As Abu Dhabi Eyes Output Rise
...hayyan. The Crown Prince has effectively been in control of the country since his brother President Khalifa bin Zayid suffered a stroke in January 2014. This marks his further consolidation over the oil industry. The new man in charge will have to juggle a wide range of issues including plans to increase ga...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Italy Doubles Gas Imports From Algeria As Time Out Ends Amid Skikda Shut-Down
...re diverted for pipeline exports. Algerian state firm Sonatrach and key Italian importer Eni agreed in 2013 to reduce offtake for a period of time for 2013 and 2014, as the recession-led demand destruction in European gas markets led suppliers to reduce their purchases (MEES, 1 May 20...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
KRG Looks To Call Abadi’s Bluff On Salary Gambit
...fectively, this would mean a return to the defunct December 2014 revenue sharing agreement. In accepting Mr ‘Abadi’s offer, the KRG said “each month it needs ID980bn [$820mn], ID336bn [$281mn] of which is paid to Peshmerga forces”. Figures released by the KRG Ministry of Natural Resources (MNR) on 16...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Tunisia Bags EU, IMF Cash But Oil & Gas Output At Record Lows
...ring the democratic transition process. The latest cash will come in three instalments and could start later this year. The EU’s previous €300mn package for Tunisia was approved in May 2014, with two tranches of €100mn disbursed so far this year and the final tranche slated for 2Q 2016. Tunisia has al...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Dana Gas Profits Boosted By Arbitration Settlement
...UAE-listed Dana Gas recorded a 15% rise in net profits for 2015 despite tumbling oil prices causing revenues to fall by 39% from $683mn to $417mn. But the profit rise, to $144mn from $125mn for 2014, was attributable to a one-off arbitration settlement. The firm is still mired in a legal wr...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Dana Looks To Egypt Uptick In 2016
...wnward curve associated with field decline. This was partially reversed when Balsam field production and well completions were brought onstream in Q4 2015.” For the year, Dana posted 2015 Egyptian output of 33,900 barrels of oil equivalent per day (boe/d) compared to 39,000 boe/d in 2014. Around 80% of...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
S&P Downgrades GCC Ratings On Back Of Tumbling Oil Prices
...AN: GDP CRUNCH S&P lowered its long- and short-term foreign and local currency sovereign credit ratings on Oman to BBB- from BBB+, indicating moderate risk. The agency projects that the Sultanate’s “GDP per capita will fall to $14,600 in 2016 from $20,500 in 2014, while the annual average increase in...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Iran Sets Out FDI Strategy As Foreign Cash Starts To Trickle In
...urced from abroad, given the crash in oil prices. Revenue from Iran’s petrochemical exports is second only to oil export revenue. State-owned National Petrochemical Company (NPC) expects to steadily raise output of petrochemical products, from 44mn tons for 2014-15, to 47mn tons in the current Ir...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Saudi ‘Dumping’ Has Cannibalized Opec Revenue For Minor Long-Term Gains
...Opec’s Saudi Arabia-driven policy of maximizing market share at the expense of revenue is economically illogical. The policy has been driven by political motives. Opec members’ revenue losses resulting from the oil price collapse since late 2014 far exceed any likely long term gains from in...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
DNO Plans To Double Capex In 2016
...ile capex was nudging $300mn in 2014, it dropped to a miserly $50.7mn last year. Despite this, rising output from DNO’s KRG assets meant the company’s overall working interest production rose from 68,900 b/d to 88,400 b/d. However, spending cuts led to KRG production declining in the fourth quarter of th...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
South Sudan Attempts To Cut Sudan Oil Transit Payments
...om Upper Nile has continued, but at a diminished rate. Output in 2014 was around 160,000 b/d, but dropped to 155,000 b/d in the first quarter of 2015 and then to about 140,000 b/d in the final months of the year. After Brent, the European crude benchmark against which Dar Blend is priced, tumbled to ju...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
NOC Targets Belie Libya’s Continuing Divisions
...ditional 52,000 b/d in condensate. Nominal production capacity is 1.76mn b/d, but the last time the country achieved output of more than 1mn b/d was in mid-2013, although it came close in October 2014. Since peaking at around 620,000 b/d in March 2015, crude production has struggled to reach 40...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Middle East Upstream Spending Faces Trying 2016
...wn from 51 for December, 60 for January 2015, and a whopping 90 for January 2014 before the mid-2014 advance of Islamic State when the exploration boom in Iraqi Kurdistan was in full swing. International oil services firms all saw their revenues dive in the fourth quarter 2015, though their Mi...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016