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Protests Drive Libyan Output Below 1Mn B/D
...venues to finance the budget,” NOC warns. “NOC rejects the methods of extortion and threat caused by the closure of roads and the stoppage of production,” it adds. In the wake of the overthrow of Qaddafi in late 2011, NOC managed to boost output from virtually zero to 1.6mn b/d in a few months (MEES, 31 Ma...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Shale Oil And Gas: US Hikes Global Reserves Estimates
...ministration (EIA) raises its total global reserves estimate to 7.2tcf of shale gas (up from 6.6tcf in its previous 2011 report) and 345bn barrels of shale oil (up from 32bn barrels - see table). “While the 2011 report focused exclusively on natural gas, recent developments in the United States highlight the ro...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
BP Data Charts Mixed Fortunes For Middle East Producers In 2012
...cord high.” Dated Brent reached an average of $111.67/B, although this was a mere 40¢/B up on 2011. Global Output Up, Despite Iran “For the second consecutive year, a major OPEC producer experienced a significant decline in output,” said BP chief economist Christof Rühl, referring to Ir...
Volume: 56Issue: 24Published at Fri, 14 Jun 2013 -
Iraq: Shell Steps On The Gas With Basra Project
...sra gas processing from 250mn cfd to 400mn cfd since the contract was signed in late 2011. Now discussions are underway to add another 1.1bn cfd of processing capacity over the next few years. But rising crude output has exacerbated Iraq’s already massive flaring problem, with a lack of processing fa...
Volume: 56Issue: 23Published at Fri, 07 Jun 2013 -
Libya: Berruien Out?
...e post-revolutionary rebirth of Libya’s oil industry. In just seven months, August 2011 to March 2012, Libyan oil production went from practically zero to 1.4mn b/d. Progress has been harder going since then, but Mr Berruien’s departure, if confirmed, would come as a blow to many foreign in...
Volume: 56Issue: 23Published at Fri, 07 Jun 2013 -
Iran Crude Importers Secure New US Waivers
...a mistake,” he said. The US in December 2011 passed a law cutting off access to the US financial system for foreign financial institutions involved in oil trade with Iran and its Central Bank, unless their home countries were given a waiver by considerably reducing its oil import volumes fr...
Volume: 56Issue: 23Published at Fri, 07 Jun 2013 -
Tripoli Touts Progress In Face Of Security Challenge
...e Mellitah gas plant which left one guard dead, Dr Berruien said security problems have been exaggerated. The drilling of 19 exploration and appraisal wells, and acquisition of “more than 2,000 sq km of (3D) seismic” since October 2011 is proof oil companies can do business in post-revolutionary Li...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Abu Dhabi Habshan Gas
...ortage. Nitrogen Injection GASCO is preparing to inject 600mn cfd of nitrogen by mid-2014 into Habshan wet gas field, and in doing so recover the same volume of gas – currently used for reinjection – for delivery to Habshan 5 (MEES, 19 September 2011). Currently, most of the heavier ‘field condensate’ is...
Volume: 56Issue: 22Published at Fri, 31 May 2013 -
Kish Gas Startup Claims Half-Baked
...e main sticking point. MEES understands that the two sides came close to reaching an agreement in 2011, but an eleventh hour change of heart on the part of the Iranians put a halt to proceedings. “The project has been shelved, with Oman now focusing on the development of its tight gas at Khazzan and Ma...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
Egypt: Leadership Changes Buffet Oil Sector
... EGYPT Egypt: Leadership Changes Buffet Oil Sector Egypt has appointed a new head of state oil firm EGPC and its fourth oil minister since the 2011 revolution. Political connections, rather than industry experience, appear key to the appointments. Eg...
Volume: 56Issue: 21Published at Fri, 24 May 2013 -
South Sudan Brings Largest Oil Field Back Online
...oduction at the field has begun at around half the levels seen in late 2011, Dar Petroleum chief Joseph Potdung said. “Within a month we should be reaching 165,000 b/d to 180,000 b/d, and we would expect to reach the level…we were [at] before the shutdown by early next year.” While these ti...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
OMV Output Up On Yemen, Libya Stability
...a result of a more stable environment in both countries following the upheavals of the ‘Arab Spring’ in 2011 and 2012, the company said. Production in the first three months of 2013 was up just 1,000 boe/d from the previous quarter’s average, but 1% up on the corresponding quarter in 20...
Volume: 56Issue: 19Published at Fri, 10 May 2013 -
Cairo Scrambles To Avert Gas Catastrophe
...mbled from around 5.5bn cu m/yr in 2009-10 to just 1.82bn cu m in 2011 (MEES, 15 February). Clearly some gas has been freed up, but the impact has been limited. Operations at key petrochemical producers, such as at E-Methanex’s 1.3mn t/yr Damietta methanol complex, at EBIC’s 700,000 t/yr am...
Volume: 56Issue: 18Published at Fri, 03 May 2013 -
Iranian Parliament Approves $20Bn Oil And Gas Bonds
...vember that the fund’s total financial assets stood at $42bn. NDF was established in 2011 to replace the Oil Stabilization Fund (OSF) with the aim of converting oil and gas revenue into productive investments for future generations. It was incorporated under the law for the Fifth Development Pl...
Volume: 56Issue: 18Published at Fri, 03 May 2013 -
Kuwait Energy Set For Continued Growth In 2013
...change. KEC profits rose by 29% to $45mn for 2012, whilst sales rose 26% to $225mn. The company’s total working interest production hit almost 18,000 barrels of oil equivalent per day (boe/d), up 32% from 2011, and has risen further to almost 21,600 boe/d for the first quarter 2013 (see table). Of this 93...
Volume: 56Issue: 18Published at Fri, 03 May 2013 -
Iran Targets New Buyers For Its Crude
...24 April, quoting official sources. This was down from the previous year’s figure of 18.1mn tons (362,000 b/d). This plunge, PTI said, meant Iran is now India’s sixth largest supplier of crude in 2012-13, behind Saudi Arabia, Iraq, Venezuela, Kuwait and the UAE. In 2011-12, Iran was the third la...
Volume: 56Issue: 17Published at Fri, 26 Apr 2013 -
BP And Eni Show Faith In Egypt’s Offshore
...000ms+ water depth. Contains Shell discovery 15 N. Burg El Arab Offshore 3,180 Pura Vida 2,755 Y 5 Edison (Sidi Abd El Rahman) Edison relinquished 2011 Source: EGAS, Egypt’s Oil Ministry. *Ar...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
South Sudan Oil Revenues Expected By August
...danese oil has crossed the border into Sudanese territory for the first time in more than a year. This coincided with a state visit by Sudanese President ‘Umar al-Bashir to the Southern Sudanese capital of Juba – the first such visit since the South broke away from Sudan in 2011. “The first ba...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Shale Revolution – Threat To Mideast NGL Exports?
...port Import Demand Output Export Import 2011 2,272.30 2,544.10 148.3 202.1 1,523.00 1,545.70 115.7 5.4 67 60.8 78...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013 -
Aramco Starts Up 900,000 b/d Manifa Field
...aybah. The expansion project at Khurais will be completed by 2016-17 and Shaybah by 2017. Saudi Aramco from 2004 to 2011 managed to deliver over 3mn b/d of gross additional crude production capacity (and more than 750,000 b/d of NGLs and significant gas volumes) in six major projects, of which only one, th...
Volume: 56Issue: 16Published at Fri, 19 Apr 2013