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Egypt Cuts Road Fuel Prices
...ckage with the IMF which ended in June this year (MEES, 21 June). Though the (modest) price cuts followed some of the most vocal protests since Mr Sisi came to power in 2014 – with up to 3,000 people having been detained – the Oil Ministry insists that the gasoline prices cuts are not linked but ra...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Libya’s NOC Demands Funds
...s witnessed some wild fluctuations over the years - mainly due to conflict. It plummeted to a low of 200,000 b/d in April 2014, but has recovered in recent months and hit a six-year high 1.26mn b/d in May this year. September output came in at 1.22mn b/d. Years of neglect, war and un...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Tunisia’s Upstream: Can It Emerge From A Lost Decade?
...llowing the revolution, the country’s 2014 constitution made it even more difficult for the government to award exploration blocks. In the name of oversight and transparency (key demands of the uprising, among others) the new constitution’s Article 13 stipulated that any new awards must be approved by pa...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Riyadh’s SWCC Privatization: Desalination And Powergen Assets On The Block
...1 Ras al-Khair RO 2014 311 308 Ras al-Khair 2015 74...
Volume: 62Issue: 39Published at Fri, 27 Sep 2019 -
Aramco: Impressive Output Rebound, But Effects Will Linger
...mn b/d (not including the Neutral Zone whose production, shut in since 2014, is shared with Kuwait), so a claimed 11mn b/d figure implies that 1mn b/d is still shut in. And the 12mn b/d figure has never been tested. Many observers, including MEES, are skeptical that the country could produce at this level fo...
Volume: 62Issue: 39Published at Fri, 27 Sep 2019 -
Northern Iraq Secures Vital Infrastructure Upgrades
...an to rehabilitate the Baiji-1 and Baiji-2 powerplants is also central to Baghdad’s broader initiative to restore services to the areas hardest hit by the Islamic State (IS) insurgency that wracked the country between 2014 and 2018. Baiji lies in Salahuddin Province and supplies power to the north, in...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
Morocco: Minnow Bags Deepwater Block
...-1 well drilled by US firm Kosmos and partner BP in April 2014 (MEES, 18 May 2014). The two firms, key partners off Mauritania and Senegal to the south, gave up on what was then the Foum Assaka block in 2016 with BP quitting Morocco to boot. Kosmos at the time said FA-1 “failed to find hy...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
Saudi OKs Desal Sell-Off Plans
...ant, with 2.4GW power generating capacity and desalination capacity of 1.25mn m3/d. This came online in 2014 at a cost of $6.1bn (MEES, 13 February 2015). Estimating the value of SWCC is complicated by the fact that much of the company’s infrastructure is in need of a capital injection: 20% of its ca...
Volume: 62Issue: 37Published at Fri, 13 Sep 2019 -
Israel-Egypt Gas Deal: More Problems?
...at the two key Leviathan partners are looking for another potential Egyptian offtaker for their gas. Given that Egypt’s moves to gas market liberalization are in their infancy (MEES, 5 April) the obvious counterpart would be EGAS. Dolphinus was formed in 2014 by Egyptian entrepreneurs Alaa Arafa, Kh...
Volume: 62Issue: 37Published at Fri, 13 Sep 2019 -
Russia’s Stroytransgaz Bags Iraq E&P Deal
...-year contract this week to explore and produce oil and gas in western Iraq’s Block 17, a ministry statement confirms. The deal requires approval from the ministerial council, and given American sanctions on the firm due to its involvement in Russia’s 2014 annexation of Crimea, it could spark fierce US op...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Iraq Sets New Oil Output Record As Jordan Exports Start
...lamic State (IS) insurgency in 2014-16, whilst Baghdad has also tested the upper limits of its export infrastructure. Since peaking at a whopping 3.63mn b/d in December (MEES, 4 January), Iraqi southern exports have averaged 3.43mn b/d throughout the first eight months of this year – less than 30...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Algeria’s Gas Projects: Playing Catch-Up
...ntracts worth a combined AD53bn ($440mn) to local firms Cosider and ENGTP late last year to develop six fields around the periphery of the 4.4bcm/y-capacity Gassi Touil development, which came online in 2014. Cosider’s AD21bn contract will see it drill 25 wells and send raw gas output of 7mn m³/day (ar...
Volume: 62Issue: 36Published at Fri, 06 Sep 2019 -
Kuwait Upstream Chief Pledges Ambitious Investment To Boost Capacity
...pacity at 1.7mn b/d with a technical service agreement (TSA) in 2014, which was subsequently upgraded to an enhanced technical service agreement (ETSA) in 2016 (MEES, 15 July 2016). GAS: STEADY GAINS PLANNED When it comes to gas, KOC’s plans are at least more clear-cut. Mr Sultan says “we...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Saudi Bags Growing Share Of Key Chinese Market
...November 2018). China’s overall crude exports have risen 9.7% to 9.85mn b/d for the first seven months of 2019, but the Saudi gains are such that its market share has leapt from 11.7% for the first seven months of 2018 to 15.7% for Jan-July 2019. The latter is the highest share since 2014 when ov...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Israel-Jordan Gas Deal Details See Light
...is deal was set at $4.79/mn BTU, substantially below the Leviathan-Nepco deal. A late 2014 antitrust ruling that Noble and Delek were operating as a monopoly offshore Israel left the country’ upstream in stasis until a gas outline compromise deal was reach in May 2016 (MEES, 27 May 2016). As part of...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Bahrain’s Oil Sector Optimism Spreads To Powergen
...hrain’s largest plant with 1.25GW capacity. Bahrain’s power plants run almost entirely on gas, with gas burn for power generation amounting to 5.38bcm in 2018, down from a record 5.62bcm in 2014 that was almost matched in 2017 (see chart). Although Bahrain’s domestic gas production of around 2.1bn cf...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Saudi Oil Sector Creaking Amid Heavy Opec Cuts And Summer Demand
...06 to 2016” (MEES, 30 November 2018). Volumes are on track to increase some 34% to more than 1.5mn b/d over the course of the year and MEES estimates that the kingdom shipped more than 1.6mn b/d to China last month. Meanwhile the US, which was the largest importer of Saudi crude as recently as 2014...
Volume: 62Issue: 34Published at Fri, 23 Aug 2019 -
Algeria: More Output Declines, More Protests
...ficit for the first half of the year brings the total deficits racked up since the 2014 oil price crash to a whopping $53.1bn. Highlighting just how dependent Algeria is on its energy sector is the fact that the 6.6% year-on-year fall in export revenues in the first half was exactly the same as the fall in...
Volume: 62Issue: 34Published at Fri, 23 Aug 2019 -
Yemen: UAE Exit Pushes War Into Further Disarray
...lhaf, Yemen’s biggest potential returners are state companies. Even before the country destabilized in 2014 IOCs were on the way out in Yemen (MEES, 21 February 2014). The return of state firm SAFER to the crucial Block 18 would be a major boon as the block produced 40,000 b/d in early 2014, but damage to...
Volume: 62Issue: 33Published at Fri, 16 Aug 2019 -
Egypt: Are Power Shortages History?
...stalled powergen capacity over the five years to June 2019 (the end of the Egyptian financial year), from 32.0GW in June 2014 to 55.5GW currently. Central to the surge have been three giant combined cycle gas turbine (CCGT) projects taking EEHC’s total CCGT capacity to just over 30GW (see chart). Eg...
Volume: 62Issue: 33Published at Fri, 16 Aug 2019