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Egypt’s Red Sea Seismic Reimaging
...uld appear to suggest a further delay to the bid round, which has already been pushed back from its initial 1 August closing (MEES, 5 July). Block 2 is considered the most prospective of the acreage on offer. US firm Hess drilled a dry well here in 2011. It is also relatively near to where Saudi Ar...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Aramco Eyes Chinese Take-Away From Sabic Purchase
...en increasingly shifting towards Europe, with exports to Asia halving from 734,000 b/d in 20116 to 358,000 b/d last year. Sabic opened a technology center in Shanghai in late 2013 with the aim of becoming the “preferred technology partner” for its Chinese customers. The center is leading Sabic’s de...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Libya Plans Petchems Restart
...airman Mustafa Sanalla told MEES in June that its subsidiary Rasco also plans to restart the naphtha cracker at the petrochemical complex which would produce feedstock for the polyethylene plant (MEES, 5 July). Before the 2011 Libyan Revolution and the ensuing chaos knocked the complex out of op...
Volume: 62Issue: 33Published at Fri, 16 Aug 2019 -
Spain: Record Crude Imports, Record Opec, Record Libya
...0 B/D) *LIBYA, SAUDI, NIGERIA & MEXICO WERE THE TOP FOUR COUNTRIES FOR 2017, 2018 AND 1H 2019. RUSSIA AND IRAN ARE THE ONLY TWO OTHER COUNTRIES TO HAVE BEEN TOP ON A QUARTERLY BASIS SINCE 2011. SOURCE: CORES, MEES. SPAIN CRUDE IMPORTS (‘000 B/D): SIX-YEAR HIGH SAUDI VOLUMES & RECORD LIBYA FILL VO...
Volume: 62Issue: 33Published at Fri, 16 Aug 2019 -
Turkey’s Plan For The East Mediterranean: Disrupt, Stir Up, And Provoke
...y. CLAIMS AND COUNTERCLAIMS IN THE EASTERN MEDITERRANEAN GUNBOAT DIPLOMACY Turkey certainly aims to show it means business. Since the 2011 discovery of the 4.2tcf Aphrodite field by US firm Noble Energy in RoC-awarded Block 12 - and the subsequent 2018 Calypso and 2019 Gl...
Volume: 62Issue: 32Published at Fri, 09 Aug 2019 -
Iraq Crude Exports Edge Up In July
...ightly. Baghdad has so far brought in $47bn this year, down just $800mn (see chart). If oil prices and exports hold steady, Iraq is looking at around $80bn in export revenues – just a hair behind last year’s $83.7bn and not far behind the 2011-14 days of $100/B oil when Iraq netted $85-95bn despite only ex...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Eni & Total Strengthen Cyprus Ties
...months. Appraisal wells are slated for Calypso on Block 6, Glaucus on Block 10 and also at the 4.2tcf Aphrodite field, Cyprus’ first gas discovery in December 2011. This would be the second appraisal well drilled at Aphrodite: the previous one was drilled six years ago. In June the pa...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Tunisia At The Crossroads
...llowing the 2011 ouster of long-time ruler Zine al Abidine Ben Ali and into a young democracy. As prime minister of the transitional government in 2011, the secularist Mr Essebsi could have caused all sorts of problems for the ‘Islamist’ Ennahda party which won the October 2011 elections. He chose not to...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Saudi Oil Sector Feeling The Strain Of Opec Cuts
...fined products have averaged just 290,000 b/d this year, against 913,000 b/d for 2018 as a whole. If this persists over the course of the year, it would be the smallest rate of imports since 2011. Despite this and the recent decline in refining run rates, exports of refined products remain co...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019 -
Sisi Approves Cyprus Pipeline
...lek (30%) agreed last month with Nicosia to revise the terms of a production sharing contract signed for the field (MEES, 7 June). This was seen as a major breakthrough to finally develop the 2011 discovery, although first gas is still not slated until 2025, following the completion of further ap...
Volume: 62Issue: 28Published at Fri, 12 Jul 2019 -
Libya’s NOC Hopes For The Best, Plans For The Worst
...nching well below its weight. In the five years leading up to the 2011 ‘revolution’ the country’s output averaged 1.65mn b/d (see chart). Mr Sanalla, the National Oil Corporation (NOC) chairman, in a wide-ranging exclusive MEES interview in Vienna on 30 June (see transcript, p9) said “we have more th...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
‘Working 25/7’: Libya’s Oil Chief Sanalla Sits Down With MEES
...fline since the revolution in March 2011. Eight years. So our staff, they did good work for maintenance and we hope that we won’t see any problems. Also our polyethylene plant was offline for a long time. This will stimulate the local economy and will make the harbor operational again. Q: Can you co...
Volume: 62Issue: 27Published at Fri, 05 Jul 2019 -
Rising Gulf Tensions Cast Spotlight Back On Iran’s Nuclear Capabilities
...wever, are uranium upgrading plants at Natanz and Fordow (see table). Bushehr-1 was started up in 2011 after a much-delayed gestation and suffered teething problems before commercial operation was declared in September 2013 (MEES, 10 October 2014). Russia’s Atomstroyexport provides uranium enriched to...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Libya Fights To Keep The Lights On
...State power firm Gecol is fighting to stop blackouts amid a destructive battle for Tripoli. Libya’s national power company Gecol has struggled to keep the lights on since the 2011 ‘revolution’ which toppled long-time leader Muammar Gaddafi. Years of war, lawlessness and instability have cr...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Libyan Fertilizer Plant Set To Restart
...e marketing of urea and ammonia from Yara with “factory operations expected to restart shortly.” Business for Lifeco hasn’t been great. The JV (50% Yara, 25% NOC, 25% Libyan Investment Authority) has made a loss each year since 2011, a cumulative $570mn to 2018. Yara in 2015 wrote down $112mn an...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Libya’s Oil Sector Feels The Strain
...oke out “due to the high temperature experienced in an electric generator” at compound 1 of the Sarir field in the Sirte basin, resulting in a production loss of around 30,000 b/d. Sarir has experienced persistent outages due to power problems since the 2011 ‘revolution’. NOC said the day before th...
Volume: 62Issue: 24Published at Fri, 14 Jun 2019 -
Libya: Set For A Gas Boost In 2019?
...able than that of oil since the 2011 revolution, in some ways the picture has reversed over the past 18 months or so. Crude output steadily rose to reach 990,000 b/d in 2018 – and a six-year high of 1.26mn b/d in March – whilst gas production fell to 1.34bn cfd, down 25% from 2013’s record 1.79bn cfd ac...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Dubai’s Dragon Roars In To Egypt With BP Purchase
...timated $500mn for BP’s Gupco subsidiary, which manages the firm’s 12 concessions containing 45 fields in Egypt’s mature Gulf of Suez oil province. Output was 71,000 b/d for 2017-18, 11% of Egypt overall output, down from 72,500 b/d for 2016-17 and 78,000 b/d for 2011-12. Net output to BP is around 40...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Cyprus: Aphrodite Contract Agreed, 2020 FID?
...Cyprus looks to be finally on the path to the realm of gas producers. Nicosia has agreed to sweeten terms in return for a guarantee from Noble, Delek and Shell to develop the 2011 Aphrodite discovery. The Cyprus government and the partners at the country’s 4.2tcf Aphrodite gas field have ag...
Volume: 62Issue: 23Published at Fri, 07 Jun 2019 -
Libya’s North Hamada: Development At Last?
...t the 2011 ‘revolution’ marked the beginning of years of instability. Though Tripoli in late-2011 approved Medco’s declaration of commerciality on structures A+L, D and F, by then the firm like most other foreign companies had pulled its staff out of the country. It returned in 2013 and drilled th...
Volume: 62Issue: 22Published at Fri, 31 May 2019