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Gas Faces Long-Term Uncertainty On Cheap Coal And Renewables
...rket outlook, the agency cut its global gas demand forecast to an annual growth rate of 2% on average between 2014 and 2020, lower than the 2.3% average rate projected for the previous 10 years. The IEA now expects global gas demand (and thus production) to hit 3,926 bcm/year by the latter date. La...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015 -
Arab Energy Club Honors Walid Khadduri
...ergy Award (2014); the International Association of Energy Economics Award for “excellence in written journalism on topics relating to international energy economics” (1993); and the Opec Award for Journalism for an “outstanding career in oil reporting” (2008). He participated in establishing the Ar...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015 -
Delek Looks To Increase Aphrodite Stake
...vor of Noble. Noble gave the first indication it was looking to divest part of its Block 12 stake in its 2014 annual report, “There is also potential for a farm-out arrangement of our working interest,” the firm said (MEES, 10 April). FUNDING EFFORTS Delek has been working hard to gather fu...
Volume: 58Issue: 23Published at Sat, 06 Jun 2015 -
Total Sees Sunshine Amid Gulf Turbulence-Interview With CEO Patrick Pouyanne
...rmoil. Total suffered a double shock last year, which ended with the tragic death of Christophe de Margerie, the charismatic former CEO who died in a plane crash in Moscow in October. The first shock was the collapse in oil prices, which fell from a high of $115/B in June 2014 to $45/B in January be...
Volume: 58Issue: 23Published at Fri, 05 Jun 2015 -
Algeria Ploughs On With Failed Policies
...ll be no further changes to the country’s hydrocarbons law despite a disastrous turn-out at the most recent upstream round in September 2014, when a mere five bids were received, and four blocks awarded, out of the 31 blocks on offer (MEES, 3 October 2014). OIL LAW: ‘NO CHANGES’ The go...
Volume: 58Issue: 23Published at Fri, 05 Jun 2015 -
Egypt Doubles Down On Attempts To Reverse Gas Slump
...ese deepwater blocks were awarded to Egypt’s key gas producers BP and Eni (MEES, 3 October 2014). The new blocks are more or less enclosed by, to the west, the blocks that are set to form part of the BP/Dea West Nile Delta (WND) project, by BG’s key West Delta Deep Marine (WDDM) blocks to the so...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
LNG, Private Imports To Bridge The Gas Deficit
...ars under a deal signed in November last year (MEES, 7 November 2014), but Höegh LNG CEO Richard Tyrrell tells the firm’s 28 May Q1 conference call that “our general feeling is that [Egypt is] looking for long-term solutions.” “I think it is a project that people are really going to pay attention to be...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
Algeria’s Upstream Investment: Running To Stand Still
...geria has set itself the goal of boosting gross hydrocarbon output to an annual 225mn tons of oil equivalent (toe) by 2019, up 12.5% on the 2014 figure of 200mn toe (see graph), according to the latest version of the country’s five-year energy plan published earlier this month by Algeria’s Ministry of En...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
Iraq Seeks Chinese Funding For Crucial Water Injection Project
...ve to supply the foreign operators with more oil in the months ahead. It had already ramped up the volumes of crude to the IOCs since the middle of 2014, when oil prices began to fall, as the value of the barrel declined. Payments in kind to the foreign operators accounted for roughly 30% of total ex...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
DNO Reports New Tawke Production Record
...or Mor gas field increased marginally by 3.7% to 30,400 b/d of oil equivalent compared with 29,300 boe/d in the corresponding quarter of 2014, while LPG sales doubled year-on-year. The LPG plant is producing at near capacity having returned from suspension in July 2014 and sales have increased su...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
Algeria Maintains 2015-2019 Production Plan, Keeps Quiet On Shale
...ternational Petroleum Investment Company. This was due to poor returns, MEES understands (MEES, 6 March). Even with the two new fields Algeria will struggle to keep output level with 2014’s 1.15mn b/d. Production last year received a boost from the ramp-up of output at the Anadarko-operated El Merk pr...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
Wintershall Exits Qatar Gas Block
...d Austria’s OMV signed a Technical Evaluation Agreement with the Abu Dhabi National Oil Company (Adnoc) to evaluate the potential of the Shuweihat sour gas and condensate field. A first appraisal well was drilled in March 2014. Wintershall will take over the long-term exploration and development of th...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
BP Steps Up Egypt Commitment But IOC Receivables Climb Again
...ndon’s approval. The fear is that the North Sea fields could be shut in by possible future EU sanctions against Russia following the conflict in Ukraine which began in 2014. It is rumoured that L1 is not happy with the price it could receive for its North Sea assets. This could mean the firm will fall sh...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
Receivables Up 4% But Fortunes Vary
...ross a number of opportunities in Egypt that we’re now screening and going through due diligence on. So those things have moved more onto the front burner for us,” CEO Ross Clarkson says. Kuwait Energy went even better. In its Consolidated Financial Statements for 2014, released 14 May, it says that “su...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
GKP Not Stirring On 36,000 B/D Shaikan 2015 Target
...IRAQ Gulf Keystone Petroleum (GKP) is producing 40,000 b/d from the Shaikan field in Iraq’s Kurdistan region, the maximum capacity attained at the end of 2014. The company, which has struggled to sustain its Kurdistan operation due to the delay in receiving payment for exports via Turkey, sa...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
Chevron Advances Maintenance Shutdown At Neutral Zone Field In Bid To Aid Talks
...aph). The US major said in its annual report for 2014 that it may not be able to sustain production from Wafra at current levels. Failure to resolve the problems might force the company to wind down its operations, a senior Saudi source told MEES recently (MEES, 3 April). Chevron’s onshore fields in the Ne...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Noble Comes Out On Top In Israeli Antitrust Dispute
...raeli Prime Minister Benyamin Netanyahu’s ruling Likud party but left to form his own Kulanu party in November 2014. He served as Communications Minister from 2009 until 2013 and campaigned on a platform of lowering the cost of living. Mr Steinitz, who is a member of the Likud party was Finance Mi...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Saudi Aramco Oil, Gas Reserves At All-Time High
...SAUDI ARABIA Saudi Aramco Oil, Gas Reserves At All-Time High Saudi Aramco has just published its Annual Review for 2014, the last in which Oil Minister Ali Naimi will grace its pages as Chairman of the Board. Based on the numbers, last year’s achievements are impressive, especially if th...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Iran Selects 49 Oil, Gas Projects Open For Foreign Investment
...ar in early 2014 to 330 bcm/year by 2017. The list, revealed on the ministry news service by Abdol-Mohammad Delparish, director of consolidated planning at the state-run National Iranian Oil Company (NIOC), comprises a host of projects that are at various stages of exploration and development. 28 of...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Oman Planning for Spot Power
...pire in 2017, with five more finishing by the end of 2020. While some PPAs will continue beyond the introduction of the spot market, the new rules will provide “an alternative way for producers to sell power to OPWP” (MEES, 7 February 2014). NERA has already advised the GCC Interconnection Au...
Volume: 58Issue: 19Published at Fri, 08 May 2015