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Zueitina Restart Small Sign Of Hope For Libya’s Oil Prospects
...rkers demanding jobs from NOC brought the pipeline supplying crude to the facility to a halt (MEES, 8 May). The dispute has now been brought to a close with the promise of jobs for the protestors, Mr Lefkaih says. The terminal had only restarted on 22 February, having been out of action since April 2014...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iran Targeting $150Bn Oil & Gas Investment By 2020
...ojects, as well as export facilities boosts this figure to “over $150bn,” he says. COOPERATION WITH IOCs Though yet to be officially unveiled, details of the new IPCs have trickled out since its soft-launch in February 2014. These suggest foreign and local company cooperation will be a main theme in...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Saudi Oil, Gas Spending To Continue Unabated Despite Oil Price Collapse
...ported Mr Naimi as saying, expressing a hope that the G20 could play a leading role in stabilizing the market. The Saudi minister also met separately with US Energy Secretary Ernest Moniz and the Russian Energy Minister Alexander Novak. Since steering Opec toward its November 2014 decision to pursue ma...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Oman Expects New Block Award By December
...ock was pulled from Omani independent Petrogas E&P in December 2014, following the expiry of its 15-year contract at the concession. Though Petrogas was keen to renew its contract at the block, the MOG opted to offer it to another foreign oil company in the hopes that it will be able to reverse th...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
UAE To Spend $35bn On Reducing Gas Imports For Powergen
...the investment total will be earmarked for gas field developments. Mr Mazru’i says current gas production can meet only 50% of UAE demand, with the shortfall being met through imports of gas and LNG. The UAE imported just over 6mn tons of LNG in 2014 (8.2bn m3 or 790mn cfd of gas ) and 2bn cfd of ga...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Asian Buying Of Iranian Oil Down Year On Year
...her regular oil customer Turkey is only available until June. The biggest fall in purchases came in India which cut its average imports from 275,000 b/d in the first eight months of 2014 to 213,000 b/d in the same period of this year, a 22% drop, on the back of sharply reduced buying in ea...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Libya: Peace Elusive After A Year Of UN Talks
...LIBYA Libya: Peace Elusive After A Year Of UN Talks One year after the UN mediation to resolve the conflict in Libya began, the outcome is still in the balance. The UN Support Mission in Libya (UNSMIL) hosted the first round of dialogue on 29 September 2014. Last week, it held what le...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Increasing Fuel Supplies Top Of New Egyptian Oil Minister’s Agenda
...nd, the Suez Canal expansion and the follow-through on pledges made during the Economic Development Conference in March (MEES, 17 April). Egypt also returned to international markets with the issuance of a $1.5bn Eurobond, while growth has “rebounded to 4.2% in 2014-15, and inflation has de...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Iran, Oman Sign Gas Export Pipeline Contracts, Eye 2018 Start-Up
...art of gas exports to the gas-hungry sultanate by early-2018. Mr Kameli said the project would involve the laying of 400km of pipeline, of which approximately half would be subsea. This is up from earlier estimates of 260km given early last year (MEES, 14 March 2014). The line would roughly ex...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Urgency Of Peace In South Sudan Undermined By Persistent Divisions
...ternational prices, and a dwindling share of output means that South Sudan’s crude oil income has collapsed beyond all recognition. In November 2013, the last full month of South Sudanese production, government oil earnings were more than $200mn, while the 2014-15 budget envisaged monthly spending of more th...
Volume: 58Issue: 39Published at Fri, 25 Sep 2015 -
Iraq Slashes Investment Threatening Oil Output Gains
...te 2014, more or less held from February to May this year, it has since broken down. For July and August the KRG handed over a mere 60,000 b/d to federal marketer Somo at Ceyhan. So while total Iraqi crude exports (including the KRG) have been, at 3.18mn b/d so far this year, within touching di...
Volume: 58Issue: 38Published at Fri, 18 Sep 2015 -
Could Egypt’s Gas Find Revive Exports?
...0mn cfd (13%) drop seen between 2013 and 2014, the trend remains firmly down (MEES, 24 July). MEES estimates that gas output from existing fields will fall to just 3bn cfd in 2020, but the start up of WND in late 2017 should reverse the overall decline: 2018 output should be back up to 2015 levels of...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
Eni 30tcf Egypt Gas Find A Game-Changer For East Med Energy Market
...the year, after Antitrust Authority Commissioner David Gilo ruled in December 2014 that the two firms had formed a monopoly offshore Israel (MEES, 27 February). This ruling would have forced Noble and Delek to divest their interests in either Leviathan or Tamar, but the government stepped in an...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Shell Seeks Shale Gas Price Hike
...th Egypt to drill the first horizontal wells into shale rock on the Western Desert’s Northeast Abu al-Gharadig block (MEES, 19 December 2014). The gas price agreed with both firms is $5.45/mn BTU, but Shell is now believed to be renegotiating the price. The budget for the joint operation to drill ho...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Oman: Oil Price Revival Key To Sustaining Record 1mn b/d Output
.../B for August, down from an average of $57.07/B for the first half of 2015, $96.95/B for 2014, and $105.47 for 2013. The undersecretary’s estimates roughly align with those made by Managing Director of Petroleum Development Oman (PDO) Raoul Restucci earlier this year: around $8/B for primary oil re...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
Erbil And Baghdad Take Oil Dispute Public, Again
...R says it was assigned responsibility for finding buyers for KRG crude oil and for agreeing with the previous buyers of the KRG’s oil (who had made pre-payments in 2014) to defer their outstanding pre-payments until 2016, to enable the KRG to receive the full $850mn per month during 2015. It was as...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Algeria’s Sonatrach Continues Relentless Battle Against Production Decline
...ALGERIA Algeria’s Sonatrach Continues Relentless Battle Against Production Decline Algeria’s crude and gas output fell for the ninth consecutive year in 2014, the Office of National Statistics (ONS) said in a report this month. The report said, compared with the 5.5% drop recorded in...
Volume: 58Issue: 35Published at Fri, 28 Aug 2015 -
Iran: Domestic Companies Seek Assurances Ahead Of Oil Opening
...ntract’s soft-launch in February 2014 — which officials tell MEES will almost certainly form the basis of the final framework — suggest Iran’s domestic firms can take comfort in the knowledge that it has in fact been drawn up with their interests firmly in mind (MEES, 19 June). Specifically, co...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
South Sudan Oil Income Falls, Peace Process Stalls
...nthly earnings of around $28mn. In November 2013, the last full month of South Sudanese production, government oil earnings were more than $200mn. The 2014-15 budget envisaged monthly spending of more than $250mn. Were it not for the fact that South Sudan already knows what it is like to survive wi...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015 -
Israel Delays Key Gas Development Vote
...mmissioner David Gilo ruled in December 2014 that Noble and Delek had formed a monopoly offshore Israel. This ruling would have forced Noble and Delek to divest their interests in either Leviathan or Tamar but the government stepped in and effectively usurped Mr Gilo, who has since announced his re...
Volume: 58Issue: 34Published at Fri, 21 Aug 2015