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‘The Opportunities Are Massive’: The Risks & Rewards Of Operating In Libya
...mbined production capacity of about 250,000 b/d (see map). A decade of near-continuous instability following the ouster of Gaddafi in 2011 has not done the country’s all-important oil sector any favors. The resulting fighting, mismanagement and forced shutdowns have left infrastructure in ta...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
Tunisia Lays Out Roadmap
...me day that marked the beginning of the Tunisian Revolution which ousted former ruler Zine El Abidine Ben Ali one month later in January 2011. A roadmap had been a key demand of many political and civil society organizations since the president’s move to suspend parliament and assume executive po...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
Libya’s Road To 2mn b/d: Stability Is Key
...y topic dominated discussions above all others: the need for stability. “If stability can be granted, I think Libya can move ahead very quick,” says Wanis Elruemi, country manager for Eni which is Libya’s top foreign producer. The fall of Muammar Gaddafi in 2011 and the subsequent fr...
Volume: 64Issue: 48Published at Fri, 03 Dec 2021 -
Shell Return To Libya?
...sets in Libya and quit its exploration acreage in 2012 citing “disappointing” results from an “extensive seismic and drilling campaign” (MEES, 4 June 2012). It was drilling its fifth exploration well out of a planned 18 when revolution hit in early 2011. Shell did however make a point of stressing that th...
Volume: 64Issue: 48Published at Fri, 03 Dec 2021 -
Heightened Political Tensions Threaten Libya’s Oil Ambitions
...gures. At stake is the stability of a country which has been enveloped in almost constant chaos since the 2011 revolution. For the oil sector, a return to political division, or even war, would crush hopes of boosting oil production. GADDAFI’S RETURN Saif al-Islam Gaddafi, the son of former ru...
Volume: 64Issue: 46Published at Fri, 19 Nov 2021 -
Algeria-Morocco-Spain: Key Gas Pipeline Stops Flowing
...LIVERED 85BCM OF GAS TO SPAIN SINCE 2010, AROUND HALF OF ALL ALGERIA-SPAIN GAS SHIPMENTS OVER THIS PERIOD (BCM) MEDGAZ STARTS UP IN 2011. SOURCE: ENAGAS, CORES, KPLER, MEES. THE GME PIPELINE: A SEVERED LINK BETWEEN ALGERIA, MOROCCO AND SPAIN 2: ALGERIA-TO-SPAIN PIPED GA...
Volume: 64Issue: 44Published at Fri, 05 Nov 2021 -
Petrofac Hopes To Turn Page After UK Bribery Conviction
...UK-based services firm Petrofac is hoping to put a scandal-riven few years behind it after a UK court on 4 October found it guilty on seven counts of bribery involving payments of $44mn to secure $3.5bn of contracts in Gulf countries between 2011 and 2017. In a case brought by the UK’s Se...
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
New Iran Cabinet Brings Back Shades Of Ahmadinejad
...ree branches of government: the presidency, parliament and judiciary. OWJI FOR OIL For the high-profile petroleum ministry, Mr Raisi nominated Javad Owji, who served under the former ultra-conservative petroleum minister Rostam Ghasemi as deputy minister from 2011 to 2013. His former boss had be...
Volume: 64Issue: 32Published at Fri, 13 Aug 2021 -
Morocco’s Disputes With Algeria & Spain Heat Up As Pipeline Deadline Looms
...Algeria’s gas exports, for 2013-18. Though volumes dipped for 2019 and 2020 they are back at around this level for 2021. GME is not the only Algeria-Spain pipeline connection. A direct Algeria-Spain route, the 8bcm/y capacity Medgaz, started operations in 2011 (see map). Currently, the 54...
Volume: 64Issue: 29Published at Fri, 23 Jul 2021 -
Sparks Fly As Saudi-Emirati Economic Competition Intensifies
...latively recent development. Bilateral relations between the neighbors have traditionally been more fraught, and it was arguably the start of the ‘Arab Spring’ in 2011 which caused their geopolitical priorities to converge. The relationship then deepened with the rise to power of Saudi Arabia’s Crown Pr...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Gulfsands Bullish On Syria Return As Key Russian Investor Consolidates Position
...0 B/D) *2020 TOTAL INCLUDES 1,100 BOE/D (6.6MN CFD) OF GAS. SOURCE: GULFSANDS, SYRIA REPORT, MEES. GULFSANDS BLOCK 26 IN SYRIA MODEST OUTLAY, MASSIVE UPSIDE With no ongoing income since declaring force majeure on its Syria assets in late 2011, Gulfsands is entirely re...
Volume: 64Issue: 23Published at Fri, 11 Jun 2021 -
Russia’s Gazprom Seeks North Africa Expansion
...e years running up to the 2011 revolution. But production has been badly hit by years of instability (see chart). Last year, SOO output was entirely shut-in for eight months during a forced nationwide oil blockade led by an eastern-based warlord (MEES, 25 September 2020). Tumanov says that SOO pl...
Volume: 64Issue: 21Published at Fri, 28 May 2021 -
Russian Warships To Escort Iranian Oil Tankers To Syria
...MAGE’ In January, Syria’s Prime Minister Hussein Arnous put production from government controlled territories at 20,000 b/d. Prior to the outbreak of the Syrian civil war in 2011, the government’s production across the country was 390,000 b/d (MEES, 22 January). Plans to grow production from fields Da...
Volume: 64Issue: 16Published at Fri, 23 Apr 2021 -
Israel & Egypt’s Blossoming Energy Relationship
...ntacts have been threadbare (save Israeli tourists in Sharm el Sheik). The first two attempts at energy tie-ups, the 2001 Midor refinery, and the 2008 East Mediterranean Gas (EMG) pipeline built to deliver Egyptian gas to Israel collapsed in acrimony (MEES, 1 August 2011). Even the latest pr...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Iraq Struggles To Find Developers For Mansuriya Gas Field
...nistry of oil, it really shouldn’t have. The field was originally to be developed under a 2011 contract by a consortium of Turkey’s TPAO (22.5%op), Korea’s Kogas (15%), and the Kuwait Energy subsidiary of Hong Kong based United Energy Group (UEG 22.5%) alongside state-owned Oil Exploration Company (OEC 25...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Libya’s Power Sector In A Race Against Time
...vember 2020) though more is needed. Power supply shortages have been a huge problem since the 2011 revolution and the chaos that followed (MEES, 21 January 2019). But capacity was flagging even before the uprising: one unit of the 480MW Khoms steam turbine plant hasn’t been overhauled since 1996. Ma...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Libya’s Oil Revenues Plummet To $6bn In 2020
...ED BETWEEN 2011-17 DUE TO LACK OF NOC DATA. INCLUDES GAS EXPORT REVENUE, PRODUCTS SALES, ROYALTIES AND TAX. ^KPLER. SOURCE: OPEC ASB, CBL, NOC, KPLER, MEES. 2: LIBYA’S 2020 OIL & GAS INCOME ($BN): NOC STOPPED TRANSFERRING FUNDS TO CBL IN SEPT, LEAVING $2.1BN FROZEN IN THE LIBYAN FOREIGN BA...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Tunisia Set For Crude Output Boost
...s been a key characteristic of Tunisian democracy since the 2011 revolution. Several IOCs have quit the country amid social unrest, a rapid turnover of governments and a difficult business environment (MEES, 14 December 2020). And those that remain can’t be too enthusiastic about the immediate fu...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Kuwait’s New Parliament Faces Major Economic Headwinds
...rving oil minister since 2011. 1: KUWAIT HAS STRUGGLED TO ELIMINATE BUDGET DEFICITS AMID LOW OIL PRICES ($BN) B=BUDGETED DEFICIT. ^AMENDED FROM ORIGINAL BUDGET. SOURCE: KUWAIT MINISTRY OF FINANCE, MEES. 2: KUWAIT EXPORT REVENUES ARE GRADUALLY REBUILDING FROM OIL PRICE COLLAPSE ($BN...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Jordan Gas Trade: Hello Israel, Bye-Bye LNG?
...rtainly did keep Amman from the brink: when Egyptian gas supplies dwindled in 2011, Jordan had to import and burn costly oil products (mainly diesel) in its power fleet just as oil prices exceeded $100/B – forcing the state firm Nepco to incur over $7bn in debt (MEES, 31 May 2019). But even with the st...
Volume: 63Issue: 49Published at Fri, 04 Dec 2020