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Lebanon’s ‘Revolution’ Upends Status Quo
...rved as a strong impetus for the protests. Beyond the tax announcement and the fires, the Lebanese had a long list of outstanding grievances against the ruling oligarchy: the country’s economy has grown at a measly 1.3% per annum since 2011 (see chart); state power operator Electricité du Liban (Ed...
Volume: 62Issue: 43Published at Fri, 25 Oct 2019 -
Libya: Waha Expansion Inches Forward
...Projects to boost Libya’s long-term output have mostly been on hold since before the 2011 revolution. But plans by the Waha Oil Company (WOC) – grouping NOC (59.18%) with US firms ConocoPhillips (16.33%), Marathon (16.33%) and Hess (8.16%) – to boost capacity from its key Sirte Basin acreage be...
Volume: 62Issue: 43Published at Fri, 25 Oct 2019 -
Pakistan’s Oil & Gas Imports: Gulf Dependence Intensifies
...mand however (MEES, 22 February). IRAN ANOMALIES Officially Pakistan’s imports from Iran for both crude and key refined products have been zero since 2011-12. But a more detailed look at the customs stats throws up some anomalies. Pakistan imported 153,600 tons of ‘white spirit’ (customs co...
Volume: 62Issue: 42Published at Fri, 18 Oct 2019 -
Tunisia Elects New President
...Saied appears to have ridden a wave of disillusionment with established political figures who have been unable to deliver the expected economic fruits of the 2011 Jasmine Revolution. He wants to bring about a form of direct democracy whereby elected local officials would choose regional assemblies wh...
Volume: 62Issue: 42Published at Fri, 18 Oct 2019 -
NOC Eyes Russian Firms’ Return
...NOC sees its longer term output gains coming from new developments. But for this, it needs to persuade firms that have not been active in Libya since the 2011 war to return. On 5 October NOC all but announced Russia’s Tatneft had returned to Libya, welcoming “progress of seismic surveys be...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Egypt, Ethiopia Hit Dam Deadlock
...Tripartite talks between Egypt, Ethiopia and Sudan in Khartoum about filling of the Grand Ethiopian Renaissance Dam (GERD) broke down last week with Cairo calling for international mediation. Announced in 2011 the $5bn, 6GW Grand Ethiopian Renaissance Dam (GERD) has suffered several de...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Libya’s NOC Demands Funds
...derinvestment has taken its toll on the country’s lifeline oil sector. With foreign investors wary, NOC desperately needs cash to maintain its aging and dilapidated energy infrastructure. It also wants to kick-start work on several projects abandoned following the 2011 revolution (MEES, 31 May and MEES, 20 Se...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Taqa Issues $500mn In Bonds
...ginning in 2013 forced a strategic rethink. The company’s assets are mainly in upstream oil and gas and power. In 2018 Taqa’s power and desalination plants contributed 53% of its income and upstream operations 31%. This marked a major turnaround from 2011, when Taqa’s upstream provided 45% of its income an...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Mena Petchems Firms See PDH Process As Key To Exploiting Propane Resources
...ypt 2011 *480 EPPC n/a EGPC 0.8 400 PP Ruwais, UA...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Japan: UAE Overtakes Saudi As Number One Supplier
...*For well over a decade Saudi Arabia had been the unrivalled number one crude and condensate supplier to Japan. Saudi market share climbed above 30% in 2011 and rose steadily to hit 40% in 2017, dipping only modestly to 38.1% for 2018. The UAE (almost all Abu Dhabi) was a distant number two fo...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Opec Output Slumps As Ecuador Quits
...oduction in late 2018 (MEES, 7 December 2018). Libyan output too has risen by 170,000 b/d, but the country is one of two members exempt from production restrictions as it seeks to return a semblance of stability to the country following the 2011 revolution and subsequent civil war. Output jumped 70...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Eni, Shell & OMV In Tunisia: Will They Stay Or Will They Go?
...llowing the 2011 revolution and brought online production from scratch. MAZARINE: SMALL FIRM, BIG PLANS Mazarine started its Tunisian operations (at the time its sole focus) in 2013, acquiring a 45% stake in the Zaafrane exploration permit in the southwest of the country. It struck oil there in 20...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Tunisia’s Upstream: Can It Emerge From A Lost Decade?
...Tunisia’s oil and gas output has been on a downward trajectory for almost a decade. Political instability unleashed following the 2011 revolution paralyzed the country’s upstream. But Industry Minister Slim Feriani has been battling to turn things around and is determined to see “the glass ha...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Libya’s NOC Looks To Take Development Inhouse With New Zallaf Subsidiary
...rk, which at a minimum would involve securing hundreds of millions of dollars in funding and enlisting the help of international services firms. A HISTORY OF VIOLENCE Though there was a short period following the bloody 2011 revolution when Libya was again starting to look like an at...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
Tunisia: Ex-Dictator Dies, Outsiders In Election Run-Off
...Tunisia’s ex-dictator Zine El-Abidine Ben Ali died in Saudi Arabia on 19 September where he had been forced into exile since his overthrow by a mass uprising in 2011. His death comes just two months after Tunisia’s first democratically elected president Beji Caid Essebsi passed away, tr...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
Saudi Arabia Chases Ambitious Downstream Strategy
...OFITS AND REVENUE REMAIN BELOW THEIR 2011 PEAK ($BN) DOWNSTREAM DEALS Besides the Sabic buy-in, Aramco has been progressing a number of overseas downstream projects in order to further the twin strategies of diversification and securing markets for its crude exports. Ar...
Volume: 62Issue: 37Published at Fri, 13 Sep 2019 -
Libya Forex At Five-Year High
...Buoyed by relatively steady production of crude oil this year, Libya’s foreign exchange reserves rose to hit a five-year high $85.7bn at end-June, according to the country’s central bank. Foreign reserves reached an all-time-record in 2012, but the violence and chaos unleashed by the 2011 re...
Volume: 62Issue: 37Published at Fri, 13 Sep 2019 -
Lebanon Declares ‘State Of Economic Emergency’
...the honor of the third highest debt-to-GDP ratio in the world (around 150%; behind only Greece and Japan). Low growth since 2011 – about 1.4% annually, due in large part to the outbreak of war in neighboring Syria – has merely exacerbated the problem. Through remittances, foreign direct in...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Cyprus Gas Compromise?
...diterranean to Greece. Turkey objects to what it labels unilateral Greek Cypriot gas exploration efforts and has vowed to protect the interests of the Turkish Cypriots in the northern third of the island. So far three discoveries have been made off the south of the island but only US firm Noble Energy’s 2011...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Egypt’s Red Sea Seismic Reimaging
...uld appear to suggest a further delay to the bid round, which has already been pushed back from its initial 1 August closing (MEES, 5 July). Block 2 is considered the most prospective of the acreage on offer. US firm Hess drilled a dry well here in 2011. It is also relatively near to where Saudi Ar...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019