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Turkey’s ITP Exit Sets Stage For Intensive Talks With Iraq
...ghdad largely emerged as the winner in an arbitration case against Ankara for facilitating independent Kurdish oil exports between 2014 and 2018 (MEES, 31 March 2023). Before the shutdown, the ITP carried up to 400,000 b/d of Kurdish crude and around 70,000 b/d of Federal Kirkuk production to Ceyhan. Th...
Volume: 68Issue: 30Published at Fri, 25 Jul 2025 -
Qatar’s NFPS Ensures Legacy LNG Facilities Maintain Capacity
...tar carried out was the Plateau Maintenance Project (PMP) which started up in 2014. It involved brownfield work in the North Field and a revamp to onshore facilities aimed at maintaining the 10mn t/y capacity at its oldest three trains (MEES, 17 October 2014). Like the PMP project over a decade ag...
Volume: 68Issue: 29Published at Fri, 18 Jul 2025 -
Drone Attacks Force Shutdown Of Key Kurdistan Oil Fields
...ersee security since ISIS was ousted in 2017. The field fell under ISIS control in 2014, and the security situation in the area remains precarious. SANCTIONS RETALIATION? Iraq’s deal with HKN comes as Baghdad has been trying to convince US companies to invest in the country’s energy se...
Volume: 68Issue: 29Published at Fri, 18 Jul 2025 -
HKN Signs Preliminary Deal For Development Of Federal Field
...supply nearby power plants. That said, oil ministry data seen by MEES put output below 10,000 b/d in early-2024 and an informed source says operations have been undermined by the security situation in the area. The field suffered severe damage after the ISIS takeover in 2014 and Iraqi security fo...
Volume: 68Issue: 29Published at Fri, 18 Jul 2025 -
BP Sets Sights On Expanded Libya Operations With New MoU
...riodically expressed a desire to exploit over the past decade (MEES, 30 May 2014). In 2014, NOC’s then-chairman Mustafa Sanalla spoke optimistically about Libya’s unconventional oil and gas potential. He said that “a lot of homework will be done to evaluate these resources,” but since then NOC has lacked the re...
Volume: 68Issue: 28Published at Fri, 11 Jul 2025 -
Libya Slams Greek Hydrocarbons Tender Amid Maritime Border Dispute
...vereign rights in 2014.” CALL FOR TENDERS On 12 June, the European Union’s official journal published a notice from Greece announcing an international call for tenders for “the exploration and exploitation of hydrocarbons in maritime areas” including Blocks “South of Crete 1” and “South of...
Volume: 68Issue: 26Published at Fri, 27 Jun 2025 -
European Majors And New Entrants Secure Key Algeria Blocks In ‘Successful’ Bid Round
...untry’s influence within Opec+. Algeria produced 1.145mn b/d of crude oil in 2014 (see chart 1), but the subsequent collapse in oil prices led to a reduction in oil sector investment and capacity has dwindled ever since. According to the IEA’s latest medium-term outlook, Oil 2025, production capacity st...
Volume: 68Issue: 25Published at Fri, 20 Jun 2025 -
Trade In The Med: More Hubs, New Ship-to-Ship Zones
...prus’ rise as a regional gasoline blending hub via its 545,000 m3 (3.4mn barrel) VTTV storage facility at Vasiliko. Vitol, which owns 45% of VTTI alongside IFM Investors (45%) and Adnoc (10%), heavily touted VTTV’s potential when it first began operating in 2014 (MEES, 31 October 2014). But it’s taken th...
Volume: 68Issue: 24Published at Fri, 13 Jun 2025 -
Egypt: New Deals Boost Gas Output, Oil Decline Continues
...the fourth quarter to be the highest of the year, and we anticipate exiting the year around 500mn cfd,” he adds. This in turn would be a two-year high if achieved, although still a far cry from the record 921mn cfd posted in 1Q 2014. While welcome news for Egypt, Apache’s gas gains are un...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Deadly Clashes Threaten Libya’s Short-Lived Stability
...nister Khalifa Abdelsadiq hailed the relative stability the country has witnessed in the past few years, stressing that Libya was “open for business,” with existing partners like Repsol and OMV, as well as Italy’s Eni, recently resuming drilling in Libya for the first time since 2014 (MEES, 28 Fe...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Aramco Steps Up Multi-Billion Dollar Refinery Upgrade Strategy
...erica and Asia, and in late 2014 a clean fuels upgrade program was completed which reduced the sulfur levels in gasoline and diesel by more than 98% to 10 parts per million (MEES, 2 January 2015). Aramco is looking to upgrade its domestic refining fleet as part of broader plans to boost its liquids-to...
Volume: 68Issue: 18Published at Fri, 16 May 2025 -
Gulf NOCs Tap Into World-Leading US LNG Sector
...amco in the race. Indeed, QatarEnergy was by far the earliest mover, having agreed in 2014 to convert its Golden Pass LNG import terminal (QatarEnergy 70%, ExxonMobil 30%) into an export terminal (MEES, 11 July 2014). More than a decade later, Qatar’s Minister of State for Energy Affairs Saad al-Ka...
Volume: 68Issue: 20Published at Fri, 16 May 2025 -
Saudi Budget Deficit Swells To Largest Since 2021
...er the same period, despite capital investments falling by $1.8bn to a two-year low of $7.4bn. These all combined to push the budget deficit up to $15.7bn, which was the highest quarterly figure since 4Q 2021’s $18.2bn. Indeed, it is the worst start to the year since 2016, at the height of the 2014...
Volume: 68Issue: 19Published at Fri, 09 May 2025 -
Algeria’s First Bid Round In A Decade: Will It Be A Major Success?
...Algiers is close to wrapping up its first bid round since 2014. It hopes to attract some of the largest international players, including possible country entries for US majors Chevron & ExxonMobil, and a re-entry for BP, with Asian and Gulf NOCs also a strong possibility. But one of the co...
Volume: 68Issue: 18Published at Fri, 02 May 2025 -
Key Gulf Futures Exchange Eyes China
...mains based in Dubai’s DIFC, the MoU was signed at STG’s headquarters in Riyadh and in the presence of STG CEO Khalid Abdullah al-Hussan. The two exchanges have a long history of partnership, with the GME having been tapped in 2014 by SHFE’s subsidiary, Shanghai International Energy Exchange (INE), to...
Volume: 68Issue: 17Published at Fri, 25 Apr 2025 -
Saudi Slashes Jan-Feb Oil Burn; Can It Maintain The Progress?
...LUMES OF DIESEL. SOURCE: JODI, MEES. 2:....BUT THE FIRST TWO MONTHS OF 2025 HAVE SEEN SUBSTANTIAL GAINS WITH FEBRUARY OIL BURN* DOWN OVER 200,000 B/D YEAR-ON-YEAR FOR THE LOWEST MONTHLY FIGURE SINCE 2014 (‘000 B/D)... *CRUDE PLUS FUEL OIL CONSUMPTION. PRESUMES ALL FUEL OIL BURNED IN PO...
Volume: 68Issue: 17Published at Fri, 25 Apr 2025 -
Libya ‘Open For Business’ As Bid Round Eyes Global Majors
...delsadiq meanwhile hailed the relative stability the country has witnessed recently, with existing partners like Repsol and OMV, as well as Italy’s Eni, recently resuming drilling in Libya for the first time since 2014 (MEES, 1 November 2024). “This is crucial for encouraging investors and allowing fo...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
OPEC Secretary General: ‘Data-Driven Messaging More Important Than Ever’
...wever, the IEA’s subsequent Oil 2024 report (analysis and forecasts to 2030) sees gasoline demand exceed 2019 levels in the years 2023, 2024, 2025 and 2026 (MEES, 14 June 2024). There are also examples for other energies, such as coal, with past IEA talk of global peaks in 2014, and then in 2024 st...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
Iraq Targets 1.54mn B/D Refining Capacity With Relaunch Of 150,000mn b/d Missan Plans
...pacity since 2017, when the country was struggling to cope with the aftermath of the 2014 destruction of its largest refinery, the 290,000 b/d Baiji complex, by Islamic State (MEES, 26 September 2014). Mr Sudani says the new refining additions are part of his government’s efforts to maximize the value de...
Volume: 68Issue: 14Published at Fri, 04 Apr 2025 -
BP Seeks To Build On Historic Middle East Foundations In ‘Return To Upstream’ Strategy
...ream. BP returned to the remodeled concession in December 2016, after the original concession agreement expired in 2014, and the current agreement runs until end-2054. Return to Adco lifted BP’s net Abu Dhabi output to a record 257,000 b/d in 2017, but after the offshore Adma concession expired at the en...
Volume: 68Issue: 12Published at Fri, 21 Mar 2025