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Another Summer Of Discontent For Iraq’s Basra Amid Power Shortages
...tput was flared, up from 67% a year earlier. With gross production rising, the absolute volumes of flared gas have risen further: up by 69mn cfd or 5.5% versus January-May 2014, and almost double 2010 levels (see table). Exacerbating the impact on the population of southern Iraq is that alternate fu...
Volume: 58Issue: 30Published at Fri, 24 Jul 2015 -
Genel Ramps Up KRG Output As Exports Rise
...liver in excess of 100,000 b/d net to Genel on peak days in the January-June period from its working interest in the Taq Taq and Tawke fields. The figure compares with average net output from the Kurdish fields of 69,000 b/d in 2014. The recent production boost, Genel says, helped the Kurdistan Re...
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Iran Boosts Salman Output
...e field has 46 oil wells, and 10 water injection wells. This boost in Salman oil output comes as part of a $2bn Iranian Oil Ministry plan announced in 2014 aimed at boosting offshore production. The ministry has long made expediting the development of the fields Iran shares with its ne...
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Partex Sees Adco Opportunity As BP, Shell Shun Terms
...s a partnership of Adnoc with 60%, Total, BP, Shell and ExxonMobil each with 9.5% and Partex with 2%. When the concession expired in January 2014, Adnoc qualified its four oil Major ex-partners but excluded Partex, as it tried to expand participation to bring in more Asian companies and other European an...
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Kuwait Energy Gets Iraq Reserve Boost, Output Up
...oil equivalent (boe) at end-2014. Block 9 alone accounts for 507.5mn boe. KEC posted record annual working interest production of 25,252 b/d for 2014, up 8% on 2013. Output rose further to 26,820 b/d in Q1 this year (see table) but likely dipped in Q2 with production at the firm’s Block 5 license in...
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Israel: New Gas Law
...w of 1952 has few requirements of the operator: several only have a 5% stake, the minimum under current rules (see table, MEES, 5 December 2014). A common pattern of recent years has been for firms with little-to-no oil experience to snap up the rights to offshore licences in the hope that the 2009 an...
Volume: 58Issue: 29Published at Fri, 17 Jul 2015 -
Cairo Edges Closer To Paying International Gas Prices
...cline, falling from 3.4bn cfd to 2.4bn cfd between the start of 2014 and April 2015 – and this with the Eni-operated Denise-Karawan (DEKA) fields, ramping up from August 2014 start-up to 460mn cfd in the meantime (MEES, 29 May). The Italian firm has been stalling on plans to invest $5bn in developing ad...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Sanctions Aside, Iran Left With Plenty To Do Ahead Of Upstream Opening
...ercome most, if not all, of the buyback’s shortcomings (MEES, 19 June). WORLD GAS RESERVES BY COUNTRY (TCM) 2014 % of total 2010 2000 Iran 34...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Algeria’s Energy Thirst Appears Unquenchable - And Unsustainable
...ns in 1H 2014 (MEES, 12 December 2014). With the completion of Sorfert, Algeria’s total nameplate fertilizers and methanol capacity is around 3.94mn t/y (MEES, 19 December 2014). Gas requirements from fertilizer plants are expected to grow further this year. Sonatrach’s Al Djazairia Al Omania Li...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Petroceltic Struggles To Bridge Funding Gap
...the start of the year. The firm now forecasts 14,000-15,000 boe/d for 2015, well below not only 2014’s 22,500 boe/d, but also its January’s previous 16,600-18,500 boe/d 2015 forecast (see table). Egypt, where the 2015 output forecast has been slashed by 3,000 boe/d since January, accounts for 85% of...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Erbil-Baghdad Deal Teeters As KRG Cuts Oil Supply To Somo, Plans Bonds
...had increased independent oil sales due to what it said in a statement was “the significant debt backlog" arising from the budget cuts of 2014 imposed by the federal government and the need to pay down debts accumulated in 2014 from prepayments for oil sales. The region's financial difficulties, it...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Egypt Hopes To Attract IOCs To Its Western Mediterranean Waters
...elds, leading to a decline in the gas production rate and an inability to connect compensatory wells.” The ministry had expected gas output to hit 5.4bn cfd during the July 2014-June 2015 fiscal year. But output for the first nine months (ie to April 2015) averaged just 4.57bn cfd. According to th...
Volume: 58Issue: 27Published at Fri, 03 Jul 2015 -
Israel: Road To Gas Development Uncertain Despite Government Push
...ility Edison had previously expressed an interest in purchasing Karish and Tanin (MEES, 5 December 2014), but following Mr Gilo’s ruling the firm cooled its interest until the regulatory uncertainty cleared up. Local reports have indicated that Edison, which also has exploration acreage on the Egyptian si...
Volume: 58Issue: 26Published at Fri, 26 Jun 2015 -
Egypt Lays Out Further Subsidy Cuts For 2015-16 But Overall Spending Up
...12-13. The budget for the year beginning 1 July was recently approved by the cabinet but is yet to be signed off by President Sisi. It lays out plans to cut spending on oil product subsidies to E£61bn ($8bn at the latest exchange rate of $1= E£7.63), down 13% from the provisional 2014-15 figure of E£70...
Volume: 58Issue: 26Published at Fri, 26 Jun 2015 -
Iran Going The Extra Mile With New Oil Contracts
...clear program fast approaching, and prospects good that a deal could be struck, IOC interest in Iran is again on the rise – just as it was some 12 months ago in the run-up to the first, ultimately missed, deadline of 20 July 2014. Just last week a delegation from Anglo-Dutch major Shell arrived in Te...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Morocco Sticks To LNG Plan, Keeps Calm And Keeps Drilling
...stem,” reducing the country’s “external and fiscal vulnerabilities,” the IMF says. DEFICIT DOWN Morocco’s trade deficit in January-May 2015 fell by 25.3% to MD63.12bn ($6.52bn at $1=MD9.68) from MD84.54bn ($10.33bn at $1=MD8.18) in the corresponding period of 2014. The cost of energy imports fe...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
Iraq Lowers Sights On Capacity As Reality Sets In
...ndon on 9 June. This is up from 188,000 b/d in late 2014 (MEES, 1 November, 2014). IRAQ’S KEY PLATEAU PRODUCTION TARGETS (PPTs, MN B/D) Field Operator New PPT Was Finalized? We...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015 -
BP Stats Reveal ‘Tectonic’ Shift In Oil Industry Supply/Demand Balance
...owth in global oil production was more than double that of consumption last year, as the US shale oil boom and a sharp fall in China’s energy consumption undermined benchmark oil prices. The BP Statistical Review of World Energy 2015 shows that oil and NGLs production rose by 2.1mn b/d in 2014, while co...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015 -
Egypt On Road To Gas Recovery After Years of Stagnation
...Egypt’s 49 bcm 2014 gas output. Even if April turns out to be an outlier, output for the first four months of 2015 at 4.47mn cfd (46.2 bcm) is also well down. The IEA does not include a forecast for 2015 in its latest report. However achieving its forecast of 51 bcm for 2016 now looks like a ma...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015 -
IEA Cuts Mideast Gas Demand And Production Outlook
...REGIONAL IEA Cuts Mideast Gas Demand And Production Outlook Middle East countries are on track to increase the share of gas in their energy mix although gas demand growth will slow down between 2014 and 2020, according to the International Energy Agency’s (IEA) latest Medium Term Gas Ma...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015