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Iraq’s Baiji Refinery Safe But Still Out
...s complex in Algeria in 2014, where Japan suffered the highest number of casualties of any foreign country (ten, all employees of engineering firm JGC), have evacuated their workers from Iraq, a source tells MEES. The violence has led to the delay of two key projects so far. The 300,000 b/d Na...
Volume: 57Issue: 26Published at Fri, 27 Jun 2014 -
Iraqi Output Under Pressure As IOCs Withdraw Staff
...ys. While acknowledging that export facilities had managed to post impressive gains in 2014 with the addition of a new single point mooring berth, volumes may be capped until 2018 due to “mismanagement of the coastal Fao storage project in Basra,” which it said was crucial for crude oil transiting fr...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
KRG Capitalizes With Baghdad Under Threat
...ghdad and cannot be met. The real starting point for export potential is 200,000 b/d, he says, which could be increased steadily if the international oil companies are paid. The Iraqi government drafted its budget on the basis of 3.4mn b/d of exports for 2014. The budget was not ratified and is now st...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Libya: Oil Minister Shakmak Sanguine Over Production Woes
...ese problems will be solved sooner rather than later. Libya’s OPEC governor Samir Kamal told the press last week that he hoped production would average 900,000 b/d in 2014, about three fifths of Libya’s total capacity of 1.6m b/d. Given average output of 300,000 b/d so far this year, this implies ou...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Major Declines Ahead For Kuwait Oil Production, Says IEA
...KUWAIT The International Oil Agency (IEA) sees Kuwaiti oil production declining by some 415,000 b/d over the next five years, according to the 2014 edition of its Medium-Term Oil Market Report (MTOMR) released this week. Kuwait insists that its production capacity will rise from the cu...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Iran Touts Upstream Opportunities Ahead of July Nuclear Deadline
...iority. South Pars is key to this, “For this Iranian year [March 2014-March 2015] we plan to increase gas production from South Pars by 100mn cu ms/d (3.53bn cfd), and condensate production by 160,000 b/d. For the next Iranian year, we are planning another 100mn cu ms/d [increase],” he says. However, wi...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Saudi Arabia Drafts Energy Efficiency Law In Bid To Curb Runaway Demand
...erage GDP growth in 2014-2018 is expected to slow to 4.2%, resulting in a slowdown in oil demand growth, it says. “So steep has been the climb that some observers have suggested that on current trends, oil export revenues could sink to a trickle within a generation,” the IEA says. It refers to the go...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Saudi Arabia: Rigcount Hits Record 101 For May 2014
...s wells and 50 water wells. The rise in drilling activity since early 2011 coincides with relatively stable oil prices that have remained largely above $100/B. Oil Vs Gas Split Onshore Vs Offshore Split MENA Active Drilling Rigs, May 2014...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
IOC Cost-Cutting May Limit GTL Prospects
...ads the project with a 75% stake, while the Nigerian National Petroleum Corporation (NNPC) and Sasol own 15% and 10%, respectively. Sasol is expected to take a final investment decision on its 38,000 b/d Oltin Yo’l GTL JV project in Uzbekistan by the end of 2014, though this depends on several fa...
Volume: 57Issue: 25Published at Fri, 20 Jun 2014 -
Jihadist Advance Threatens Key Iraq Oil Facilities
...ibi also asserted, more confidently, that Iraq’s southern oil fields and export terminals were safe from attack. 2014 Target Revised Down Even before the recent turmoil, Iraq had decided to lower its 2014 oil export target as a result of the protracted dispute with the KRG to an average 3m...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
IEA: Middle East Gas Output Set For Strong Growth But Outpaced By Demand
...REGIONAL The Middle East will be one of the fastest growing regions globally for gas production over the five years to 2019, according to the IEA. But growth will struggle to keep pace with runaway regional demand. The IEA’s 2014 Medium Term Gas Report, released this week, revises up...
Volume: 57Issue: 24Published at Fri, 13 Jun 2014 -
Rising Oil Exports Raise Questions Over Washington’s Iran Policy
...5mn b/d, the highest level in a year. January volumes also topped 1.35mn b/d, official customs data indicate. In the first four months of 2014, imports of Iranian oil averaged 1.38mn b/d. This was up from 1.25mn b/d for the corresponding period last year, largely driven by Iran’s big five consumers – Ch...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
Iraq’s Southern Exports Hit Record 2.6mn b/d But North Still Out
...stream capacity increment of 2014. The latest Ministry of Oil data show that Iraq exported a total of 80.036mn barrels of oil or 2.582mn b/d from its southern ports last month, a marginal increase from 2.509mn b/d in April (see graph p20). Northern exports have been halted since 2 March because of pi...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
Libya: Exports Down, Output Down, Violence Continues
...th crude shipments restricted to offshore fields, current plans to scale up refinery capacity also look optimistic. Libya: Crude Production & Exports (‘000 B/D) Libya Jan-April 2014 Exports By Port/Terminal (‘000 B/D) April Ma...
Volume: 57Issue: 23Published at Fri, 06 Jun 2014 -
KRG At Point Of No Return As Baghdad Sues Over Oil Sale
...r failing to meet its 2014 export commitment of 400,000 b/d. It also dismissed a KRG invitation to SOMO to observe the independent sales, saying the state marketer’s role was not that of observer. The KRG halted oil exports from the semi-autonomous province in 2013 because of the dispute with Ba...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Output Continues To Slide As South Sudan Conflict Rumbles On
...eater Pioneer Operating Company (GPOC), and 5,000 b/d from the fields in Block 5A, operated by the Sudd Petroleum Operating Company. All Unity production has been offline since the second week of 2014 though, after rebel forces temporarily took control of the fields in the state, and damaged key in...
Volume: 57Issue: 22Published at Fri, 30 May 2014 -
Saudi Aramco Gives North Ghawar Reservoirs A Rest
...l in 2013, down from a record 9.51mn b/d the previous year. MEES estimates Saudi output in the January-April period of 2014 has averaged 9.7mn b/d as the kingdom has maintained a high level of production, partly to satisfy good customer demand for its oil and partly to offset unplanned outages es...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Lukoil Still Negotiating Gas Price With Aramco
...ed for gas for power generation and as feedstock for petrochemicals production. Lukoil said last year that it hoped to start producing gas from Block A in 2014 but this now appears unlikely. Company vice president Leonid Fedun said in late 2012 that the 14 tcf Rub’ al-Khali gas discovery was la...
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Tunisia: Hope Tempered By Strikes And Unemployment
...gures 2010 2011 2012 2013e 2014p 2015p GDP growth (%) 2.6 -1.9 3.7 2....
Volume: 57Issue: 21Published at Fri, 23 May 2014 -
Qatar Faces Cost Blow-Out In Drive To Redevelop Bul Hanine
...ese numbers highlight the extraordinary measures Qatar is taking to stabilize crude production. Qatari oil production has fallen steadily since February 2009 when it topped out at 860,000 b/d. During the first months of 2014, production has drifted between 710,000 b/d and 720,000 b/d (see ch...
Volume: 57Issue: 20Published at Fri, 16 May 2014