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Egypt Gas Output At Record Levels As Cairo Launches Bid Rounds
...l Minister Tarek El Molla said current output is running at 5.9bn cfd. Egypt’s output could in the coming months top the previous all-time high of 6.219bn cfd set in December 2011. Zohr is on course to reach output of 2bn cfd by end-2018 and full plateau output of 2.7bn cfd in 2019, Eni says. Zo...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
GCC Grid Increasingly Used For Power Trading, But Volumes Small
...nks between the six GCC member countries, reports increased use of its grid for electricity trading rather than only for exceptional transfers to prevent local supply outages. Although the GCCIA briefly experimented with trading in 2010 and 2011, it is only more recently that planned transfers of el...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
Egypt: Economic Gains Threatened By Record Import Bill
...bounded from 2015-16 terrorist attacks, which came as numbers were already depressed by instability in the wake of the February 2011 ‘Revolution’. Revenues of $2.2bn for 1Q 2018 are up almost 70% year-on-year, though arrivals remain well down on the immediate pre-Revolution year of 2010, when the country ea...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
Oman Eyes Ambitious Downstream Gas Projects With Total, Shell MOUs
...ke off globally despite initial optimism. However, no information regarding scale, cost or timeframe of any plant was offered. Qatar has been the technology’s biggest player; its 140,000 b/d Pearl GTL JV with Shell is a world-beater. But the $18bn plant has suffered several setbacks since 2011 st...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
UK Firm Gulfsands Vies To Outlast Syria Sanctions
...Dozens of foreign firms operated in Syria before 2011 sanctions. Most aren’t planning to return any time soon. But the existence of London-HQ’d Gulfsands depends on it. On 23 April, Gulfsands Petroleum finalized its decision to delist from London’s Alternative Investment Market (AIM) co...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Spain Crude Imports From Mena Countries* Hit 9-Year High In Q1: Iran At Highest Since 2011, With March’s 133,200 B/D A Monthly 7-Year High. Libya Volumes At All-Time Record Levels (‘000 B/D)
...*EXCLUDES OCCASIONAL SMALL HISTORICAL VOLUMES FROM TUNISIA (NONE SINCE 2015) AND SYRIA (TO 2011). SOURCE: CORES, MEES. ...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Qatar Plans For 2019 Drilling To Fuel Massive LNG Expansion
...equently had 5-6 operating up to mid-2018 as it was ramping up production capacity towards its current 77mn t/y, which was achieved in 2011 (MEES, 14 February 2011). QP’s drilling subsidiary Gulf Drilling International (GDI) has nine offshore rigs in total, of which three appear to currently be co...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Total’s Libya Expansion: The Plot Thickens
...the Libyan Revolution in early 2011 three projects were under appraisal which would double capacity to 600,000 b/d: development of the North Gialo field and the NC-98 concession would add 120,000 b/d and 80,000 b/d in crude output respectively. A Conoco 2010 analysts’ presentation, meanwhile, says th...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
South Sudan Coffers Empty Amid Crippling Crude ‘Diversions’ To Khartoum
...ss of three-quarters of its oil export revenue in the wake of South Sudan’s July 2011 independence. Compensation was to be paid at a rate of $15/B, implying total monthly payments of $24.1/B until the ‘transitional’ payments were cleared. BEHIND FROM THE START South Sudan fell behind with pa...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Output Slump, Revenue Slump
...tput, some 350,000 b/d for 3Q 2011. But output rapidly slumped. Output was shut in for 15 months from early 2012 as the result of a standoff with Sudan over access to the newly-independent country’s sole export route via Port Sudan. In March 2013, the two countries signed a deal on transit fees an...
Volume: 61Issue: 19Published at Fri, 11 May 2018 -
Cyprus Exploration: Crunch Period Nears
...om drilling in Block 3 by Turkish warships (MEES, 16 February). This was the first time though that Turkey has managed to halt drilling offshore Cyprus since 2011. The likelihood that it would block drilling in Block 10 is lower: both due to the relative diplomatic strength of the US and Italy, an...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Aramco Boosts Downstream, International Experience
...itish MD of Shell 1991-98, Chair 1998-2001 Andrew Gould British Chairman Schlumberger 2003-11, BG 2011-12 Amin Nasser Sa...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Algeria Slashes Oil & Gas Investment
...e first one in six years that stands a hope of being hit (see charts). ALGERIA: KEY OIL AND GAS STATS 2011 2012 20...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
Iraq Bid Round Flatters To Deceive
...bstantially larger with 2017 gross output of around 80,000 boe/d, of which 80-90% was gas. UEG’s production is all in Pakistan, after acquiring BP Pakistan’s assets for $775mn in 2011. Output has increased under UEG, from around 35,000 boe/d under BP (10,000 b/d oil, 200mn cfd gas). ...
Volume: 61Issue: 17Published at Fri, 27 Apr 2018 -
Waha: Total Says Done & Dusted, Libya Thinks Otherwise
...s US partners. Whilst Conoco and Hess (and hitherto Marathon) have since 2011 habitually excluded Libya from their output guidance, Total’s Mr Pouyanné says his firm has no intention of doing likewise. Libya, at 80,000 b/d net, now represents 5% of the company’s total liquids output. “Yes, it’s ta...
Volume: 61Issue: 17Published at Fri, 27 Apr 2018 -
Lebanon's Gas Hype: Is It All Hot Air?
...mmercial discovery is a fait accompli. But Lebanon needn’t look far for examples of the tricky realities of East Med development: after discovering the 5tcf Aphrodite field in 2011, many of the island’s “experts” and officials boasted as if Cyprus were the new Qatar (MEES, 10 April 2015). Israel’s 22tcf Le...
Volume: 61Issue: 17Published at Fri, 27 Apr 2018 -
Sabic Seeks Big Projects As Reorganization Continues
...s second best year in output terms, a recovery in net income to $4.9bn – aided by the linking of petchems prices to crude oil – was still less than two-thirds of its record $7.8bn in 2011 (see charts). The bulk of the drop in output for 2017 was accounted for by the company’s ‘metals’ division, wi...
Volume: 61Issue: 17Published at Fri, 27 Apr 2018 -
The USA’s Growing Role In Global LNG Trade - MEES Crunches The Numbers
...BRUARY (1.44MN T, 21 TANKERS) AND MARCH (1.00MN T) THE TWO BIGGEST MONTHS ON RECORD... ...BUT, NORTHBOUND (AND OVERALL) LNG VOLUMES ARE WELL DOWN FROM 2011’S RECORD HIGHS AS SALES OF QATARI LNG TO ATLANTIC BASIN BUYERS HAVE SLUMPED (MN T) SOURCE: SUEZ CANAL AUTHORITY, MEES. TH...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
OMV Restarts Yemen Output
...15. Multiple firms with Shabwa basin operations say the region is safe from combat with upstream infrastructure intact. But pipeline attacks remain a perennial threat and employee safety a constant concern. Yemen produced 300,000 b/d before political stability nosedived in 2011. The 2010 co...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
Eni Plans For Libya Output Drop
...2011, falling to about 260,000 b/d in 2017. Or maybe he is talking about crude only, where again the decline has already taken place: gross capacity from Eni-operated fields fell from about 305,000 b/d in 2010 to 210,000 b/d in 2017. “For 8 years, we had very good [output], but we didn’t in...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018