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Iraq’s Mosul Offensive Begins Amid Patchwork Coalition
...serves are in territories which were controlled by Kurdish forces even prior to June 2014. ExxonMobil secured production sharing agreements (PSA) from the KRG for six blocks in 2011, including Baeshiqa and al-Qush, which extend into Ninawa’s disputed territory. Secondly the Sunni Arab force trained an...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Kuwait Dissolves Parliament Amidst Subsidy Reform Uproar
...12 2011 bn...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Oman Announces New Bid Round As Record Output Continues
...uts the north-western border with Oman, along with Oxy’s Block 9 and PTT’s relinquished Block 44. Again a tight gas play, the last well was drilled in 2011. The final onshore offering is Block 49, which is on the south-western border with Saudi Arabia. To the east of the block is DNO’s Block 36. DN...
Volume: 59Issue: 41Published at Fri, 14 Oct 2016 -
IMF Praises Iran’s Planned Reforms, But Implementation Is Questionable
...ble). The NDFI, which was established in 2011 to replace an earlier sovereign wealth fund, the Oil Stabilization Fund, is allocated by law a minimum 20% share of annual hydrocarbons revenue, with plans to increase this share gradually each year to a maximum of 30%. However, financial mismanagement and th...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Egypt Reserves Rebound, Currency Takes Further Pounding
...Egypt’s foreign reserves jumped by $3bn to $19.59bn at the end of September – the highest since June 2015 – according to latest figures from the Central Bank of Egypt (CBE). Egypt’s foreign reserves stood at $36bn before the January 2011 revolution, but the political unrest which followed has gr...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Libya Output Nears 500,000 B/D; Can The Gains Continue?
...adames basin, which has a capacity of about 10,000 b/d. Majid has production capacity potential of about 4,000 b/d, down from about 10,000 b/d prior to 2011. Crude from Nafoora shipped via the Ras Lanuf terminal prior to the declaration of force majeure on the port, while the Hamada field typically su...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
Israel Struggles To Attract Interest In Offshore Acreage
...rmer oil minister Sameh Fahmy for 15 years back in 2012 for his role in the 2005 deal to send Egyptian gas to Israel, a deal that was terminated following the 2011 ouster of former president Husni Mubarak (MEES, 30 April 2012). Though Mr Fahmy was last year released on appeal, this will hardly fill an...
Published at Fri, 30 Sep 2016 -
Israel Struggles To Attract Interest In Offshore Acreage
...ars back in 2012 for his role in the 2005 deal to send Egyptian gas to Israel, a deal that was terminated following the 2011 ouster of former president Husni Mubarak (MEES, 30 April 2012). Though Mr Fahmy was last year released on appeal, this will hardly fill anyone signing a deal with Israel with an...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
Abu Dhabi: Has It A Future As An LNG Exporter?
...07 2008 2009 2010 2011 2012 2013 2014 20...
Published at Fri, 30 Sep 2016 -
Abu Dhabi: Has It A Future As An LNG Exporter?
...07 2008 2009 2010 2011 2012 2013 2014 20...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
OPEC Agrees To Cut, Now The Hard Work Starts
...EC^ 2016 OIL EXPORT REVENUES ON COURSE FOR $750BN FALL FROM 2012 PEAK ($BN) 2010 2011 2012 2013 20...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
South Sudan Crude Output Plumbs New Lows
...South Sudan has faced chronic instability since 2011 independence. Output and exports are down again this year amid renewed violence, whilst low oil prices have raised the share paid to IOCs, and to Sudan in transit payments. South Sudan’s oil sales fell to a three-year low of just 10...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Saudi ‘Low Cost’ Market Share Policy Remains Unfinished Business
...llapsed from 1.54mn b/d in 2010 following the 2011 revolution. It was just 260,000 b/d last month, although recent developments have enabled it to climb back up to 390,000 b/d (MEES, 16 September). Nigeria’s output has fallen 460,000 b/d since January due to attacks from the Delta Avengers group. The la...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Aramco Output Policy Under Scrutiny Ahead Of Algiers
...rst time the kingdom has managed this since 2011, after the 400,000 b/d Petro Rabigh refinery reached full capacity in October 2010. Saudi Arabia’s newest refineries have been configured to maximize gasoline and diesel output with an eye to exporting to Europe. IEA figures show Saudi products exports to...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Tunisia: Output Slides, Firms Look For The Door Amid Instability
...e January 2011 ‘revolution’ that kicked off the Arab Spring. In many ways Tunisia’s experiment in democracy has been an admirable success – certainly compared to its neighbors Libya and Egypt. But not in terms of oil and gas output. The frequency and intensity of strikes has got worse this year. Ga...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Egypt Struggles To Raise Money For Imf ‘Bilateral Financing’
...mewhat from $39.1bn for 2014-15 to $37.6bn for 2015-16 due in part to sustained low oil prices. • With the rise in the current account deficit, Egypt’s foreign exchange reserves remain under pressure. The $16.6bn end-August figure is less than half their level before the January 2011 revolution....
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Falling Gas Prices Give Iran Dose of Realism
...oduction through the injection of gas into mature fields will also eat up more gas supplies. Iran’s injected 31 bcm in 2015, well down on the peak of 35.4 bcm in 2011 before sanctions were tightened. Gas injection can be expected to rise back up to this level and Shana reported this week that injection in fi...
Volume: 59Issue: 37Published at Fri, 16 Sep 2016 -
Iran Starts Work On Nuclear Plants, Eyes Local Fuel Supply
...heduled to begin in two years time. Rosatom’s Atomstroyexport subsidiary will build the two plants on a turnkey basis. The company built the Bushehr-1 plant, which was connected to the grid in September 2011 and reached full capacity in August 2012. PROBLEM PROJECT Bushehr-1 is the Mena re...
Volume: 59Issue: 37Published at Fri, 16 Sep 2016 -
Aramco Eyes Houston Refining Hub As Motiva Break-Up Advances
...mpany is in advanced negotiations with Chinese state firm CNPC for joint construction of a refinery in China’s southwestern Yunnan province. “We hope to reach an agreement this year,” he said. CNPC and Aramco signed an MoU in March 2011 to jointly build the first refinery in the province, which wo...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
Libya Faces Further Output Fall, Degraded Capacity With Chronic Under-Investment
...oduction potential of many of these fields has dropped substantially, particularly in the short term. Prior to 2011, the Sarir field had capacity of between 200,000-220,000 b/d, and the Mesla field about 100,000 b/d. Mr Sanalla acknowledged in the NOC statement that “we have a very long to-do list once st...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016