- Sort by:
- Score
- Published ▼
-
Gulf Of Suez Output Falls To 40 Year-Low
...While Egypt gas output receives the plaudits (see p2), oil output has shown only tentative signs of recovery from 2017’s 35-year low of 629,000 b/d (MEES, 9 March). Output was 643,000 b/d for the first six months of 2018 with key Western Desert producers Apache and Eni highlighting output bo...
Volume: 61Issue: 33Published at Fri, 17 Aug 2018 -
Lebanon Bid Round: Second Time A Charm?
...ES, 4 January 2013) and, having fallen prey to a lengthy political crisis, only closed in October 2017 (MEES, 20 October 2017). With two exploration and production agreements (EPAs) penned in February (MEES, 16 February), Lebanon’s hydrocarbon fever is now on the rise. A consortium consisting of To...
Volume: 61Issue: 32Published at Fri, 10 Aug 2018 -
US Scales Back Output Growth Projections
...vestment to other basins, they still expect Permian output to keep growing. LATEST* US OIL FORECASTS (MN B/D): 2018 & 2019 OUTPUT REVISED DOWN 2017 2018 vs 17 20...
Volume: 61Issue: 32Published at Fri, 10 Aug 2018 -
China Trade War Threat To Us Exports
...om the US, also makes it even less likely that China will cut imports from Iran in response to US threats. Ship monitoring data indicates that China took over 700,000 b/d from Iran in July versus average 2017 volumes of 620,000 b/d. ...
Volume: 61Issue: 32Published at Fri, 10 Aug 2018 -
Yemen: OMV’s Risky Reentry Pays Dividends
...ude exports come from Blocks 10 and 14 in the east of the country (MEES, 15 September 2017). State firm PetroMasila operates the blocks, using some of the crude for local power generation and sending the rest via a 138km pipeline to Ash Shihr where it is exported to Asia. Exports in 2017 averaged 44...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Iraq Takes On Mansuriya
...er development. Kuwait Energy, in its 2017 financial statements, bemoaned the Iraqi government for having “so far refused to entertain any request for change in terms.” It reclassified the field’s 2P reserves as contingent resources whilst impairing the asset in full (MEES, 25 May). The oil ministry sa...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
CNPC Hot Favorite In Abu Dhabi Opening As Adnoc Eyes Chinese Downstream
...Haseer field in March, and output is slated to double to 16,000 b/d by 2020. Clearly this is a relatively small producer, but CNPC scored big in February 2014 when it landed an 8% stake in the 1.65mn b/d Adnoc Onshore concession (then-Adco) for $1.77bn (MEES, 24 February 2017). CPECC su...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Oman Deficit Halved As Export Revenues Soar
...art this year despite increasingly alarmist projections from ratings agencies and the IMF citing the country’s tepid fiscal outlook (MEES, 24 November 2017). Through the first five months of 2018, the country’s budget deficit has nearly halved to RO1.095bn ($2.84bn) from RO2.035bn ($5.28bn) over the sa...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Sudans Hope For Output Gains From Cooperation
...timistic accounting and it was no surprise that when June came around, Juba sent a 600,000-barrel Dar Blend cargo Khartoum’s way, just as it has done every two months since April 2017 (equivalent to around 10,000 b/d). Nor was it a surprise that the diversion of a total of 28,000 b/d of crude to the 10...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
DNO Adds KRG Output
...eraged 106,000 b/d in the year-to-date, which implies Q2 output from the Tawke field of around 88,000 b/d – 17.5% less than the same period last year. In the firm’s February 2017 results call, Chairman Bijan Mossavar-Rahmani said that while investments had been paused since 2015 “we will be making th...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Pearl Steps On The Gas In Iraqi Kurdistan
...5mn cfd in 2012 before the onset of arbitration over payments in 2013 halted development until last year’s resolution (MEES, 25 October 2013). Condensate output has stayed around 13,000 b/d and LPG at 10,000 b/d. The $2.2bn dispute was finally settled in August 2017, and both parties are keen to ma...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018 -
Iraq Oil Revenues Soar But Stretched Southern Export Capacity Caps Gains
...en monthly earnings averaged $7.84bn (see chart).If achieved, this would be a 40% increase on last year’s $59.32bn, itself a 36% gain on 2016. 2017’s oil revenue gains helped Iraq secure a rare budget surplus of ID1.79 trillion ($1.52bn) according to data from the Ministry of Finance, a major tu...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018 -
Saudi-Kuwait Neutral Zone: Supply Concerns Spur Restart Rumors
...CI) contract in 2015 for work at the Hout field. The work was scheduled for completion in 2Q 2017, but had yet to be finished at end-Q1. Meanwhile, vessel tracking site Marine Traffic shows two Saudi-flagged jackup rigs were this week at the Khafji field, including one which arrived on 3 July. Wh...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018 -
Can Oman Capitalize On Opec+ Production Deal?
...ok effect in January 2017, last week’s decision to reduce over-compliance means Oman has freedom to increase output (MEES, 22 June). The Joint Ministerial Monitoring Committee (JMMC) will “coordinate amongst the countries with spare capacity” says Saudi Energy Minister Khalid al-Falih, adding th...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Sharjah Launches Debut Licensing Round
...ring 2017 which covers the whole concession area. The smaller 264km² Area B was also fully covered by 3D seismic in 2017. However, the third area, Area C, while much larger at 1,184km² only has a small area of 3D seismic shot in 2013 along the border with Area B. Any successful bidders will be re...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Exxon Walks Away From Iraq Seawater Project
...this year (MEES, 3 November 2017). But Iraq’s oil minister Jabbar Al-Luaibi cast doubt on the deal (weeks after announcing it was in its ‘final stages’) the following month, proclaiming that if a deal with Exxon were not reached the project would be put back on offer in February (MEES, 5 Ja...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
KRG To See Output Increase From Smaller Fields
...gion are increasingly willing to reinvest. The results are beginning to show. Russia’s Gazprom Neft plans to drill a third well at its Sarqala field in Q3, wrapping up Phase-1 development which has seen output rise from 5,000 b/d in early 2017 to more than 21,000 b/d now; 30,000 b/d by early 2019 looks em...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Iraq-Iran Oil Swaps: Less Than Meets The Eye
...der to consume the crude domestically. KIRKUK’S WASTED CAPACITY The deal was initially reached in December 2017 as a supposedly quick solution to shut-in Kirkuk crude, but security concerns in Diyala and Kirkuk provinces have been a constant impediment (MEES, 23 February). When Federal Ir...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Qatar Embargo One Year On: Anatomy Of Resistance
...One year on, Qatar has made no meaningful concessions to Saudi Arabia and its allies. Unimpeded oil and gas exports have enabled it to largely offset the disruption. The anniversary of the 5 June 2017 Qatar embargo summed up the entire situation in a nutshell. Qatari officials bizarrely cl...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Qatar Marks Embargo Anniversary With Exxon Tie-Up
...Doha has marked the 1st anniversary of the Saudi-led embargo with a high-profile Exxon hook-up. The move highlights the futility of efforts to isolate Qatar. After Saudi Arabia, UAE, Bahrain and Egypt imposed an economic embargo on Qatar on 5 June 2017 it swiftly became clear that Doha’s hy...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018