- Sort by:
- Score
- Published ▼
-
Total Snags Stake In New UAE Onshore Concession
...t timelines have lagged largely because of a shortage of offshore rigs. The former 75-year concession, in which Total, Shell, BP and ExxonMobil each had a 9.5% stake, expired in January 2014. All four were among nine foreign oil companies qualified to bid for a new concession. ExxonMobil, loath to...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Occidental Gets Boost From UAE’s Shah Sour Gas Startup
...rst, and then economics, foiled its plans to sell off part or all of its stakes in Oman and the UAE. “The success of our 2014 capital program should result in Occidental attaining production growth of 6-10% for the full 2015 year, with the Al-Hosn gas joint venture project expected to average 50...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Syria’s Economic Woes Only Set To Intensify
...oduction in the government-controlled areas in 2014 slumped to 9,329 b/d, the Syrian Minister of Petroleum and Mineral Resources Sulaiman al-‘Abbas announced this week. This output is a mere 2.4% of average production of 385,000 b/d before the start of the uprising in March 2011 (MEES, 8 August 2011). In th...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Lebanon Plans $1Bn Eurobond
...w debt. But latest official statistics show that the budget deficit up to September 2014 fell to $2.23bn, or 21.93% of spending, compared to $3.31bn, or 31.89% of expenditure, in the corresponding period of 2013. A rise in tax revenues and receivables from treasury operations in the first nine mo...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Kuwait Slashes 2015-16 Budget Expenditure, With Oil Revenue Down 46%
...sterity and rationalization of expenditure, in the wake of the 55%-plus plunge in oil prices since June 2014. But despite the resulting fall in oil revenues, this budget is development-oriented, Finance Minister Anas al-Salih said in a press conference this week, and puts a special emphasis on education, he...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Stand-Off In San’a: Yemen’s Crisis Worries The World
...unterterrorism problem. Action against Al-Qa’ida in the Arabian Peninsula (AQAP) targets has continued - three died in a 27 January drone strike. In September 2014, President Obama prematurely credited Yemen as being a successful example of US counterterrorism strategy. The Yemeni links to the terrorist attacks in...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Benchmark Crude Prices ($/B)
...Benchmark Crude Prices ($/B) 29-Jan 19-23 Jan 12-16 Jan Dec-14 Nov-14 Q4 2014 Q3 2014 2014...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
US NGLS OUTPUT HITS ALL-TIME HIGH OF 3.175MN B/D IN DECEMBER, GROWS 540,000 B/D DURING 2014 BUT GROWTH SLOWS TOWARDS END-YEAR (MN B/D)
...US NGLS OUTPUT HITS ALL-TIME HIGH OF 3.175MN B/D IN DECEMBER, GROWS 540,000 B/D DURING 2014 BUT GROWTH SLOWS TOWARDS END-YEAR (MN B/D)...
Volume: 58Issue: 05Published at Fri, 30 Jan 2015 -
Iraq Pledges Higher Oil Exports Despite Market Pressure
...l prices, virtually the country’s only source of revenues. With the economy burdened by excessive spending in 2014, when the government operated without a budget, and given the more than $60/B slide in oil prices since June last year, the Iraqi minister has his work cut out. In addition to tr...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Iraq, Shell Sign For $11Bn Nebras
...bsequently to 7mn t/y. Baghdad’s later Integrated National Energy Strategy envisages 15.6mn t/y by 2030. However, Nebras faces major hurdles besides Iraq’s perilous security situation: BGC’s work is behind schedule (MEES, 10 December 2014); and tumbling oil prices are undermining investment. Shell an...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Oman Targeting Record Oil Output In 2015
...tput from 2014, which at 943,000 b/d was already at a 13-year high. Oman has since mid-2013 been talking up its potential to boost domestic oil production to 1mn b/d, having achieved year-on-year increases in output every year since 2007 (see graph), primarily driven by majority state-owned Pe...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Oman’s Abu Tabul Gas Starts Up
...salination and petrochemicals sectors. Project operator, state-owned Oman Oil Company Exploration and Production (OOCEP), officially inaugurated the field late last week, though production has been running since November 2014. Output, currently at 27mn cfd of gas and 2,500 b/d of condensate, is expected to...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
India Scrambles To ‘Correct’ Iran Crude Imports Ahead Of Obama Visit
...the first three quarters of this fiscal year (April 2014 – March 2015) versus last, violating in theory, the terms of the Joint Plan of Action (JPA) – the interim nuclear deal struck between Iran and world powers in late 2013, which required Iran’s oil customers to maintain purchases at what was th...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Unrest Threatens Yemen Oil, LNG Operations As President Quits
...tput offline. Operations at Blocks 18 and 5 in the nearby Marib province – operated by state-owned Safer Petroleum and Kuwait Energy respectively – are also hit. Here violence has escalated as the Houthi movement pushes further east (MEES, 19 December 2014). These stoppages have dragged output in th...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Saudi Capacity Tops 2.9mn B/D As Yasref Ships First Products
...erations began in June 2014 – will receive crude from the 900,000 b/d Manifa offshore oil field, which had been due to reach full capacity at end-2014 (MEES, 28 November 2014). SAUDI ARABIAN REFINERIES Refinery ‘000 B/D Start-Up...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Saudi, UAE Refinery Throughputs Down
...e Takreer Expansion plant, with a view to full start-up in early 2015. Meanwhile, analysis of the JODI numbers shows that Saudi refinery outputs exceeded crude inputs by an average 138,000 b/d over the 12 months to November 2014. While monthly differentials will rise and fall because of products st...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Egypt Plans 20GW Of Extra Coal Plants, 4.3GW Renewables
...nerating capacity reached 31.45GW at the end of 2014, according to MEES estimates. This includes 14.46GW of steam turbine capacity, configured to burn either oil or gas, as well as 13.51GW of gas-fired (combined cycle plus open cycle gas turbines) and a total 3.49GW of hydro and renewables. Mr Shakir sa...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
OPEC Puts Russia On The Spot, Again
...ntribution, OPEC is unlikely to act alone. Saudi Arabia and Russia are the top two producers of oil and liquids in the world after the US, which has now overtaken the two oil giants as the world’s leading oil producer. Not only did US crude output soar by 1.2mn b/d to 8.66mn b/d for 2014, but NGLs output ro...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Algeria Shelves Shale In Face Of Protests, Economics
...ale (MEES, 3 October 2014). CONVENTIONAL CHALLENGE Algeria’s keenness for shale always appeared somewhat ill thought out. The country would do better to first focus on more general improvements to the country’s business environment that would facilitate conventional oil and gas exploration and pr...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015 -
Egypt: Shale Advances
...ES, 7 February, 2014), but Egypt has been keen to tout a deal signed last month with Shell and US firm Apache which will see Egypt’s first fracking and horizontal drilling into shale rock. Cairo also plans to offer shale gas-prone acreage in an upcoming bid round and says it will boost remuneration to fi...
Volume: 58Issue: 04Published at Fri, 23 Jan 2015