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Anarchy In Libya Keeps Production Shut In
...ttle, to no centralized power, and relies on the loyalty of the militias that were formed during or after the 2011 revolution. This power vacuum gives Tripoli almost no leverage over the armed followers of Mr Jathran, and it must hope that the continued absence of revenues will lead the secessionists to pu...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
Iran: Return To Markets A Priority For Oil Ministry New Guard
...er the past three months. This represents a near 60% drop in crude oil exports since 2011, MEES estimates show. But with this month’s relative thawing of Iran-US relations bringing about a public softening of attitudes towards the Islamic Republic and its oil sector, Iranian officials ha...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
Glimmers Of Hope As Egypt Craves Stability
...EGYPT Glimmers Of Hope As Egypt Craves Stability The prolonged period of flux that has held sway over Egyptian politics since the revolution in 2011 continues to affect oil and gas producers in the country. But there are signs that management changes at the petroleum mi...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Atlantic Frontier Hots Up As BP Enters Morocco
...nverting a ‘reconnaissance contract’ (an initial exploration deal not requiring a drilling commitment) held since 2011 to a full exploration agreement. Kosmos says that the three blocks together “will allow integrated exploration over a significant portion of the Agadir Basin, one of the last re...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Hidden Fuel Exposes Middle East Energy Policy Flaw
...tes. While making up only around 3% of the global population, over a third of the $523bn of global energy subsidies in 2011 were dispensed in the Middle East, according to the IEA’s 2012 World Energy Outlook. Eight countries in the region feature in last year’s top 20 list of subsidisers. “Su...
Volume: 56Issue: 42Published at Fri, 18 Oct 2013 -
Kuwait Sticks To 4Mn B/D 2020 Target, But Questions Remain
...ve been mostly ‘off’ as of late. Kuwait will likely find it difficult to recruit IOC involvement, in large part due to political wrangling: for example, Kuwait’s public prosecutor is investigating Shell’s $800mn consultancy deal with KOC to help develop northern Jurassic gas fields (MEES, 8 August 2011...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Sonatrach Preempts Petroceltic Ain Tsila Sale
...rrels of condensate. First gas is scheduled for 2017. Petroceltic now owns 38.25% of Ain Tsila, whilst Italian power firm Enel has 18.375%. Petroceltic, following its initial 2011 farm out to Enel, has for some time sought to divest a second similar-sized stake: both to help fund development an...
Volume: 56Issue: 41Published at Fri, 11 Oct 2013 -
Egypt Looks To Turn Page On Bureaucratic Delays
...litical upheaval in the country is not causing further delays in the oil sector. The bid round, launched in 2011, was a show of confidence in Egypt’s energy sector that surprised some observers, given the turmoil of the Arab Spring and the parsimonious terms granted to oil and gas producers. The bl...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Syria Output Only 18k B/D
...rms having declared force majeure and pulled out of Syria (MEES, 14 September 2012). The minister attributed the sharp drop in production (from an average of 380,000 b/d before the start of the uprising in March 2011) to damage caused by armed rebels attacks on oilfields, pipelines and other fa...
Volume: 56Issue: 40Published at Fri, 04 Oct 2013 -
Obstacles For Qatari Crude Boost As QNB Sees 800,000 B/D By 2017
...oduce 889,000 b/d by the end of 2011, with production capacity reaching 1mn b/d. This was a downward revision from QNB’s position in 2009, when it said production would reach about 1.06mn b/d by the end of 2010. In 2004, when Qatar produced 755,000 b/d, QNB foresaw the country’s capacity in...
Volume: 56Issue: 39Published at Fri, 27 Sep 2013 -
Kuwait’s Oil & Gas Transformation: Is Strong Leadership Enough?
...ell. Dampening hopes of attracting IOCs is a Kuwaiti public prosecutor investigation into Shell’s $800mn consultancy deal with KOC to help develop northern Jurassic gas fields (MEES, 8 August 2011). Burgan Progress Kuwait continues to make good progress in extending the plateau of its Gr...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Libya: Light At End Of Tunnel As Losses Hit $7.5bn
...nghazi, headquarters of Agoco, NOC’s biggest subsidiary. Agoco operates eight eastern fields and the export terminals of Hariga near Tobruk. The NOC chairman played down fears that the shut-ins could have had a similar effect on the production infrastructure as outages during the 2011 re...
Volume: 56Issue: 38Published at Fri, 20 Sep 2013 -
Libya’s NOC Tries To Look Beyond Continued Chronic Instability
...ter it followed other foreign oil companies in lifting force majeure on their operations after the end of the 2011 civil war. The PGOC-NOC joint venture said a test well drilled on its Area 113 acreage in the Murzuq Basin flowed at a rate of 4mn cfd from intervals of 2,430-2510 feet th...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Saudi To Keep Crude Output High Amid Soaring Domestic Demand
...main within range. I repeat the message that Saudi Arabia, and other producers, remain willing and capable of meeting any additional demands.” Saudi Arabia stepped in to fill the supply gap in 2011, when the Libyan rebellion wiped out oil production, and even created a new blend of crude oil cl...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Iran Revisits Hydrocarbon Contracts In Effort To Boost Output
...tting the country’s August output at 2.7mn b/d. This is broadly in line with Iran’s average production for the year so far, and constitutes a near 25% fall from the 3.6mn b/d it produced in 2011 before the latest, and toughest, rounds of EU and US sanctions came into effect. “Our position in OP...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Libya Faces Economic Meltdown As Oil Industry Grinds To A Halt
...leaguered interim government. Having stunned the industry by restoring oil output to normal levels in record time after the end of the 2011 rebellion, the post-Qadhafi authorities are back to square one with output reported by NOC to have fallen to “its lowest level of 240,000 b/d.” This compares wi...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
ADNOC Plans Sharjah Terminal, Storage Expansion
...pulation and number of vehicles. It also took over the running of 74 filling stations operated by federal state-owned gasoline retailer Emarat in the UAE’s northern emirates: Sharjah, Ras al-Khaimah, ‘Ajman, Umm Al Quwain and Fujairah. The move results from a fuel crisis in 2011 when Sharjah shut down Du...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
Iraq Grants Jordan $25M
...ab Gas Pipeline (AGP). Supplies from Egypt have been erratic since the downfall of former president Husni Mubarak in January 2011 because of frequent attacks on the pipeline. Most recently the pipeline was blown up on 6 July in al-‘Arish in the Sinai peninsula and to date no repairs have been ca...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
Sinopec Sidesteps Instability To Go Big On Egypt
...cident, together with other nearby disturbances, will spook shippers. So far revenues have been fairly stable post-Revolution, although takings of $1.25bn for 2Q13, were down 3% on the second quarter in 2012 and 5% down on the same period in 2011 (see graph 2). ...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
India Turns To Iranian Oil For Economic Relief
...pay entirely in rupees. India since July 2011 had been paying for its purchases of Iranian crude in both euros and rupees. 55% of its imports were paid for in euros through Turkey’s Halkbank; while the remaining 45% was remitted in rupees through the Calcutta-based UCO bank. US sanctions in...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013