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Israel’s New Med: Leviathan Expansion ‘First Priority’
...sis this is a very viable option.” While FLNG is a relatively-new technology, increasing the risk of delays, Mr Abu says that the Leviathan partners are confident of the technology, having “started to analyze that in 2013, 2014.” This is a reference to talks the Leviathan partners held with Au...
Volume: 65Issue: 40Published at Fri, 07 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 -
Egypt Refining Runs Rise To Record High
...22 were the lowest since 2014, whilst Egypt’s overall oil products imports of 144,000 b/d were also less than half 2016-17 levels (see chart 2). Egypt’s overall oil products demand has been edging up to its highest levels since around 2018 – even when excluding this year’s sharp uptick in fuel oi...
Volume: 65Issue: 39Published at Fri, 30 Sep 2022 -
Shell’s Incoming CEO Set To Oversee Streamlined Mena Growth
...adership of CEO Ben van Beurden, who has been at the helm of the major since 2014. Rather than turning its back on the region, Shell has instead focused its efforts on a small number of core countries and is now turning its focus onto regional expansion. Incoming chief executive Wael Sawan takes over th...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
China Crude Imports: Mideast & Russia Both ‘Winners’ For Now
...are of 53.3% for 8M 2022 puts this year on track to top the previous record high of 52.2% set back in 2014 (see chart 1), especially as a 55.5% share for August shows there is no sign of the region losing ground. So if the Middle East is up, and Russia is up, whilst overall volumes are falling, th...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
Aramco CEO: Flawed Assumptions Promise A Hard Winter For Europe
...spite oil prices spending months well above $100/B. “Oil and gas investments crashed by more than 50% between 2014 and last year, from $700bn to a little over $300bn. The increases this year are too little, too late, too short-term,” bemoaned Mr Nasser at the Schlumberger Digital Forum 2022. Co...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
Lebanon Blocks 4 & 9: Qatar Energy To Replace Novatek?
...19 Glaucus discovery – and the recently-awarded Block 5 (MEES, 22 April). A recent diplomatic rapprochement with Egypt, with President Sisi this week visiting Qatar for the first time since taking office in 2014, also lays out the prospect of further investment in the region’s leading gas producer. Qa...
Volume: 65Issue: 37Published at Fri, 16 Sep 2022 -
Egypt’s Western Desert Output Hit By Rig Delays As Gas Drilling Shunned
...the lag between handing over produced volumes to the state firm and EGPC paying for them. And though total receivables remain a far cry from the $6bn-plus figure that EGPC owed in 2013 and 2014, latest corporate filings show that dues are again edging higher – perhaps not surprisingly given Eg...
Volume: 65Issue: 36Published at Fri, 09 Sep 2022 -
Iraq’s Parliamentary Speaker Proposes Roadmap To End Political Chaos
...so in 2014 when ISIS took over large swaths of the country and in 2020 when the country was hit by the triple shocks of Covid, an oil price collapse and political turmoil. With no government yet formed, the prospects of a fourth year without a budget are looming for 2023. Even passing another em...
Volume: 65Issue: 36Published at Fri, 09 Sep 2022 -
Libya’s NOC Moves To ‘Save’ Key Oil & Gas Project
...(MEES, 27 November 2020). The development has since 2014 been operated by the Nafusah Oil Operations consortium consisting of Medco (24.5%op), Libyan Investment Authority (LIA 24.5%) and NOC (51%). In a bid to “save the project”, Mr Bengdara has, according to Mr Sanalla, set up a committee to ne...
Volume: 65Issue: 35Published at Fri, 02 Sep 2022 -
Qatar Export Revenues Surge Above $12bn
...As Europe’s gas crisis rumbles on, gas exporters are cashing in. Qatar’s export revenues topped $12bn in July for the first time since early 2014 and the gains could keep coming. Qatar’s export revenues jumped to $12.18bn in July, driven largely by its gas sector, enabling a mammoth $9....
Volume: 65Issue: 35Published at Fri, 02 Sep 2022 -
Anbar Power Plants To Build Case For Akkas Gas?
...t the country’s ongoing political stalemate has prevented any contracts from being signed. Akkas, located in Iraq’s western Anbar province was originally to be developed by Korea’s Kogas under a 2010 contract. But instability in the region deterred Kogas, and the firm declared force majeure in 2014...
Volume: 65Issue: 34Published at Fri, 26 Aug 2022 -
Saudi Arabia Rockets Towards $250bn Trade Surplus
...RTHER Saudi Arabia is investing heavily to diversify its revenues and has successfully built up its tax base, but when it comes to export revenues, oil remains dominant at some 80% of the total. And oil revenues climbed to their highest level since at least 2014 in June according to the latest go...
Volume: 65Issue: 34Published at Fri, 26 Aug 2022 -
Iraq Hopes To Slash Products Imports By 60% From Next Year
...cord levels this year. The Karbala project had seen years of delay since its EPC contract was awarded in 2014 to a Korean consortium led by Hyundai Engineering (MEES, 10 January 2014). Former oil minister Thamir al-Ghadhban told MEES in 2019 that delayed payments by the government were the culprit (ME...
Volume: 65Issue: 33Published at Fri, 19 Aug 2022 -
Oman’s Economy Rebounds With $2bn 1H Surplus
...08. Q2’s surplus of $1.12bn was up fractionally on Q1 (MEES, 27 May) for the highest quarterly figure since Q1 2014. Revenues were up across the board, with total 1H revenue of $17.47bn up 54% on 1H 2021 for the highest 1H figure since 2014 (see chart). Oman is on track to smash the plans set out in...
Volume: 65Issue: 32Published at Fri, 12 Aug 2022 -
Iran’s Energy Sector: Lots Of Bluster But Limited Progress
...at under the Gazprom MoU, “it was decided...to jointly implement a project to supply gas to Oman and Pakistan.” This is a reference to two gas export pipeline projects that have long been planned by Iran but which have gone nowhere. For Oman, a deal was inked in 2014 for Iran to export up to 10 bc...
Volume: 65Issue: 31Published at Fri, 05 Aug 2022 -
Qatar Export Revenues Soar Amid Tight LNG Market
...port revenues of $63.1bn – and ought to overtake 2021 full-year figures of $73.56bn during the current quarter. For 2022 as a whole a figure close to 2014’s $113bn hydrocarbon exports is on the cards. The eight-year high export figures pushed Qatar’s trade surplus up to $47.6bn over the first half of...
Volume: 65Issue: 31Published at Fri, 05 Aug 2022 -
Qatar & Oman Cash In As Asian LNG Buyers See Record Import Bill Even As Volumes Slump
...gures set in 2013 and 2014 when both Korea and Japan took far higher volumes than for 1H 2022 (see chart 2). *One interesting feature of Qatar’s exports to Asia is the sharply different average prices paid for Qatari volumes – both a feature of whether key long-term contracts were struck in a bu...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Kuwait’s Emir Appoints Eldest Son As PM
...nistry of Interior. Prior to his March ministerial appointment, he had served as the Governor of Hawalli province from 2014. He had risen within the Ministry of Interior to become Deputy Interior Minister for Education and Training while holding a Lieutenant General rank. The PM-designate had pursued hi...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022