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Libya’s Waha: Hess Confirms Total, Conoco Each Paid $75mn For Stakes...
...d restored three wells to production that had been offline since 2014, adding a total of 2,500 b/d to production....
Volume: 66Issue: 04Published at Fri, 27 Jan 2023 -
South Korea: Record LNG Import Bill As Australia Overtakes Qatar
...$21.48/mn BTU for its 2022 LNG imports, including a monthly record $29.19/mn BTU in September, it should come as no surprise that the country’s overall import bill smashed previous highs: at a cool $50bn it was twice the 2021 figure and almost $19bn above the previous record of $31.4bn set in 2014...
Volume: 66Issue: 03Published at Fri, 20 Jan 2023 -
US Stocks At 37-Year Low But Repurchase Coming
...e start of the year. Whist the commercial stocks figure is little changed from 421mn barrels at the end of 2021 (though this was the lowest end-year figure since 2014), the SPR figure is down by a massive 215mn barrels (36%) on the start of the year for what would be the lowest end-year figure si...
Volume: 65Issue: 51/52Published at Fri, 23 Dec 2022 -
Iraq: New Akkas Gas Plant
...livering the 300km transmission line from the station to the border (MEES, 17 June). The 2013 built plant was rehabilitated starting early 2020 after it was destroyed by ISIS in 2014. In August, Oil Ministry subsidiary State Company for Oil Projects (SCOP) was working on laying a 30km 16-inch pipeline be...
Volume: 65Issue: 42Published at Fri, 21 Oct 2022 -
India Lng Imports Down Again
...ack to run close the record annual figure of $8.43bn set in 2014. Back then Qatar enjoyed an overwhelming 86% market share versus just over 50% for 8M 2022....
Volume: 65Issue: 40Published at Fri, 07 Oct 2022 -
Iraq Reserves Record
...Central Bank of Iraq (CBI) reserves hit $87bn as of end-September according to CBI Advisor Ihsan Al-Yasiri. This is up $23bn on the end-2021 figure and higher than their previous $81.14bn record set in May 2014 prior to Baghdad tapping them as a result of the 2014 double shock that saw ISIS ta...
Volume: 65Issue: 40Published at Fri, 07 Oct 2022 -
UAE President Khalifa Bin Zayed Passes Away
...Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and ruler of Abu Dhabi, passed away on 13 May at the age of 73. Sheikh Khalifa had been president since November 2004 and was the eldest son of the UAE’s founder Sheikh Zayed bin Sultan Al Nahyan. Since suffering a stroke in January 2014...
Volume: 65Issue: 19Published at Fri, 13 May 2022 -
Iran Starts Gas Storage Expansion
...Iran’s president Ebrhaim Raisi kick-started the second expansion phase of the Shourijeh-D gas storage facility. Phase 1 was inaugurated in 2014 with the facility receiving 10mn m3/d (353mn cfd) of gas via pipeline in the summer months and supplying 20mn m3/d (706mn cfd) to north, northeast an...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Libya Outages Heighten Global Oil Supply Fears
...anwhile, the swearing in of a parallel government in Libya this week has heightened concerns of a return to fighting as the incumbent (internationally recognized) government in Tripoli refused to wield power. The situation is eerily reminiscent of the political division between 2014 and 2021 when two rival pa...
Volume: 65Issue: 09Published at Fri, 04 Mar 2022 -
Baghdad To Offer Gazprom Neft Better Terms
...oduction started in 2014. It has been a mainstay of mid-Euphrates oil production alongside CNPC’s Ahdab and Zhenhua Oil’s East Baghdad fields. Badra has a central integrated oil and gas processing facility with a capacity of 110,000 b/d and 155mn cfd. Gas is piped through a 100km pipeline to the 500MW Zu...
Volume: 65Issue: 09Published at Fri, 04 Mar 2022 -
Opec Basket Tops $100/B
...The Opec Basket of crude export grades hit $101.22/B on 24 February, up $5/B on a day earlier as Russia invaded Ukraine and $23/B up on the start of 2022. This marks the first time over $100/B in over seven years – since 1 September 2014. The basket opened up a gap on Brent, which settled at $99...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Gazprom & Sonatrach Greenlight Algeria Gas Project
...The international upstream arm of Russia’s Gazprom and Algerian state oil firm Sonatrach this week greenlighted a project to develop two gas fields in Algeria’s Berkine Basin. The project centres around the 2010 Rhourde Sayah and 2014 Rhourde Sayah North discoveries located on the El As...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
EBRD: $54mn For Morocco Wind
...March 2014). Morocco together with Egypt leads the Mena region in terms of wind with 1.4GW of installed capacity (MEES, 2 April 2021)....
Volume: 65Issue: 01Published at Fri, 07 Jan 2022 -
LNG Prices Show No Sign Of Easing
...*South Korea, the world’s number three LNG importer paid an average of $15.92/mn BTU for November-arrival cargoes, the highest since December 2014. Taiwan, the global number five, paid an all-time high $21.32/mn BTU. *This indicates that Taiwan’s imports contained a much higher pr...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Libya’s Mabruk Field To Restart In Early 2023
...Libya’s Mabruk Oil Operations says its eponymous field will restart production in the first quarter of 2023 at a rate of 25,000 b/d using Early Production Facilities. Mabruk has been shut in since 2014 when an Islamic State (IS) attack severely damaged its surface infrastructure (MEES, 6 Ma...
Volume: 64Issue: 49Published at Fri, 10 Dec 2021 -
Dana Gas Wins Iran Arbitration
...intly owned by Dana Gas and its largest shareholder Crescent Petroleum, for the supply of up to 600mn cfd from the shared Salman field beginning in 2005. Despite NIOC completing its section of the export pipeline, the agreement was effectively frozen after Iran demanded higher gas prices. In 2014...
Volume: 64Issue: 39Published at Fri, 01 Oct 2021 -
Libya Eyes Mabruk Field Redevelopment
...Libya’s Mabruk Oil Operations this month presented a redevelopment plan for the 34,000 b/d Mabruk field which has been offline since 2014 due to an Islamic State attack (MEES, 6 March 2015). Mabruk Oil, a 49:51 JV between France’s TotalEnergies and NOC, says it aims to restart the field in Oc...
Volume: 64Issue: 34Published at Fri, 27 Aug 2021 -
Kuwait Announces KHAFJI Gas Pipeline Completion
...afji Joint Operations (KJO). Additional gas volumes are key for Kuwait, which is increasingly turning to LNG imports to offset domestic shortages. The completion of the 100km pipeline is also notable as it will help reduce Khafji flaring. When Saudi Arabia shut down operations at Khafji in 2014 am...
Volume: 64Issue: 32Published at Fri, 13 Aug 2021 -
Saudi Arabia, Kuwait Discuss Neutral Zone Ramp Up
...proximately half the level from before its 2014-shut down. PNZ production also comes from the onshore Wafra Joint Operations (WJO), where Chevron represents Saudi Arabia alongside KGOC. Chevron’s net output in both quarters this year was 57,000 b/d, implying gross output of 114,000 b/d. This puts to...
Volume: 64Issue: 31Published at Fri, 06 Aug 2021 -
Sonatrach: A Return To Libya?
...andon its exploration activities on the Libyan side of the Algeria-Libya border in 2014 due to a deteriorating security situation. It had made a number of promising discoveries close to existing infrastructure up until that point (MEES, 11 June 2012 & MEES, 22 February 2013). Sonatrach holds 50% of Ar...
Volume: 64Issue: 18Published at Fri, 07 May 2021