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Syria: Gas Output At 75% Pre-War Levels, Oil Recovery Lags
...ll. In this way, the country’s modest yet domestically important oil and gas sector is increasingly crucial to Syria’s political landscape. Before 2011’s descent into chaos, hydrocarbons were a cornerstone of the Syrian economy. Oil production, though steadily on the decline from a record 61...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Aramco Chinese Refinery MOU
...0,000 b/d refinery and associated petchems project in Zhejiang province together with Shell and PetroChina (MEES, 17 October 2011). But this project, at Taizhou, around 200km south of Zhoushan was canned in 2013....
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Qatar Drilling Tender Imminent
...rm expects to take final investment decision (FID) on its US Golden Pass LNG export terminal (QP 70%, ExxonMobil 17.6%, ConocoPhillips 12.4%) in the next few months. Initially opened as an import terminal in 2011, the US Shale Revolution forced a rethink and the partners plan to re-purpose Golden Pa...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Libya Looks To BP/Eni Deal To Unlock Upstream Investment
...oduction workers have almost all been Libyans. Violence surrounding Libya’s February 2011 uprising, which led to Qadhafi’s overthrow in October that year, prompted all IOCs to quit the country. Output rapidly rebounded in 2012, briefly hitting pre-war levels of 1.5mn b/d in early 2013. But a much to...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Gulf States Fund Allies
...Saudi Arabia, Kuwait and the UAE have pledged a $10bn financial aid package to support Bahrain’s fragile finances and finalized a $2.5bn financial assistance program to Jordan to shore up its ailing economy. Bahrain’s economy has struggled following protests in 2011 and the mid-2014 co...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Egypt Gas Hub Ambitions Gather Pace
...ter peaking at 6.22bn cfd in December 2011, gas output dwindled as demand increased, falling to a nine-year low 3.89bn cfd in May 2016. The 2011 revolution played its part in scaring off investors, but it was unfavorably low gas prices paid by the state, growing dues to IOCs which ballooned to $6.4bn at...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Iraqi Government Formation Gathers Pace
...suffered a major stroke in December 2012. Mr Salih is not as formidable an operator as Mr Talabani – who passed away last year – but he is cut from the same cloth as his former mentor. He served as prime minister of the Kurdistan Region from 2009 to 2011. Mr Salih was put forward as a ca...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Chinese Takeover For Cash-Strapped Kuwait Energy
...ergy (KEC)—a Bahrain-headquartered privately-held firm whose financial struggles have hampered development of its promising portfolio. The deal would be UEG’s second largest to date since entering the upstream sector via the 2011 acquisition of BP’s Pakistan assets for $775mn. Pakistan accounted for al...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
LNG Prices At Four-Year High Amid Soaring Demand
...port record of 88.45mn tons set in 2014 will ever be surpassed. Japan’s record years for LNG imports came in the wake of the 2011 Fukushima nuclear disaster. The continued, albeit extremely gradual, restart of the country’s nuclear fleet combined with overall stagnant-to-falling Japanese energy de...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Noble, Delek Advance Israel-To-Egypt Gas Hopes With $518mn Pipeline Deal
...s shortfalls in Egypt made the continued supply of gas to Israel increasingly contentious. Egypt tore up the deal and put the minister who inked it, Sameh Fahmy, on trial in the wake of the February 2011 revolution (MEES, 14 March 2011). This led to damages claims from both the EMG’s then sh...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Kuwait Gets Jurassic Gas Boost, Eyes Further 2020 Gains
...al problems began when Shell won an enhanced technical service agreement (ETSA) for development of the fields in 2010 (MEES, 22 February 2010). Mired in parliamentary enquiries from 2011 (MEES, 4 July 2011) to 2016, Shell was initially unable to make progress (MEES, 29 April 2016). But the election of...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Abu Dhabi Plots $3bn Windfall From Cepsa IPO: What’s For Sale?
...plying that Abu Dhabi can expect to raise just under $3bn for a 25% stake. Cepsa plans to triple its value by 2030. The latest valuation represents a modest premium to the implied €7.5bn valuation when Abu Dhabi state investment firm IPIC assumed full control of the company in 2011, paying €3.97bn fo...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Egypt Sees End To Water Tension With Ethiopia: Is It In Denial?
...ue Nile as a key source of power were taken by Egypt as a threat to what the country has seen as its birthright since the time of the Pharaohs. Construction began in 2011, leading then Egyptian President Muhammad Mursi to say in 2013 that “Egypt’s water security cannot be violated in any way.” He ad...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Iran Offers Big Discounts To Retain Customers
...dn’t have to cut prices to such levels even during the previous tightening of sanctions from 2011-2016 (see chart 1). Iran’s five key Asian buyers took 1.66mn b/d for 2017, 68% of Iran’s 2.46mn b/d crude and condensate sales, highlighting their critical importance to the Iranian economy. In 2011, th...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Egypt-Cyprus Pipeline Deal
...s way from Cyprus to Egypt. The 4.2tcf 2011 Aphrodite discovery, and estimated 6-8tcf Calypso field discovered in January this year, are to-date the only discoveries made offshore the small Mediterranean island; neither has reached FID. Nicosia is currently in discussions with the Aphrodite pa...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Qatar Secures New Long Term LNG Sales Deal With China
...s 7.8mn t/y capacity (see table). This is PetroChina’s second LNG import deal with Qatar, supplementing another lengthy contract to purchase 3mn t/y from 2011-2036. That agreement is for volumes from Qatargas-4 (QP 70%, Shell 30%). Fellow state firm CNOOC also has a long term deal, for 2mn t/y fr...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Egypt Arbitration Award Paves Way For LNG Restart
...t a six-and-a-half year high 6.07bn cfd in July, latest data shows, just shy of the December 2011 record 6.22bn cfd (see chart below). Egypt’s other LNG export facility, the 7.2mn t/y ELNG plant at Idku, operated by Shell has continued to export small quantities despite Egypt’s gas deficit, to av...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Japan Set To Follow South Korea and France In Halting Iran Oil Imports
...lumes from 2011 levels, with further cuts in 2014. But India and China, having made more modest cuts in 2012 and 2013, all-but reversed these in 2014 when it became clear that then US President Obama was keener to avoid conflict than enforce sanctions (see chart and MEES, 6 February 2015). This ti...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Sudans Oil Deal Bears Fruit
...pacity of about 90,000 b/d, but this has not been reached since 2011, and damage to the fields in the intervening years is likely to have reduced production potential. Somewhat more likely is that the five fields could deliver an additional 80,000 b/d but that the gains will come from resources ei...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Turkey Mixes Business & Politics As Qatar LNG Surges
...G customer for 2017. TURKISH GAS IMPORTS (BCM) 1H18 v 1H17 % 1H17 2009 2010 2011 2012 20...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018