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Libya Dusts Off $60bn Of Projects: Could This Be Its Last Chance?
...bound in the last quarter of the year, Libya’s crude production in 2020 is still set for its lowest level since 1962 at just 341,000 b/d. That represents a 69% fall on 2019’s seven-year high of 1.11mn b/d, making this year the worst since the 2011 revolution in output terms. It is also two-thirds down on...
Volume: 63Issue: 52Published at Thu, 24 Dec 2020 -
Sudan Looks To Reverse Upstream Decline With 2021 Bidding
...Sudan’s crude output is running at 64,000 b/d, down 44% on 2014 levels and some 86% below the 457,000 b/d produced before South Sudan seceded in July 2011, taking with it 75% of Sudan’s production. Acting Energy Minister Kheiri Abdelrahman says Sudan hopes to add 20,000 b/d next year. But he...
Volume: 63Issue: 51Published at Fri, 18 Dec 2020 -
China’s Role In Iraq Expands With $2bn Prepayment Deal To Zhenhua
...% Y 30 2013 Was Kuwait Energy (2018 purchase) Siba (gas) UEG^ 30% Y 30mn cfd 2011 Was Kuwait En...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Libya Hits 1.25mn b/d
...cember). But cash alone won’t suffice. Libya also needs political stability: missing since 2011. ...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Libya’s Oil Rise: The Risks Ahead
...IS IS UNLIKELY TO BE RECEIVED UNTIL EARLY 2021. SOURCE: MEES. CREAKING INFRASTRUCTURE While Mr Sanalla was no doubt seeking to play up the challenges NOC faces, there is also serious weight to what he says. The chaos following the 2011 overthrow of long-time leader Muammar Ga...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
Apache Egypt Oil Output Slumps To 11-Year Low
...opped to 14, the lowest number since Q3 last year. Inevitably gross oil output has also declined, falling to an 11-year low 161,100 b/d for Q3, down 7% on Q2 and down 27% on record oil output of 220,000 b/d set in Q3 2011 (see chart 2). “Gross production declined as a result of significant drilling ac...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
Record Saudi Gas Output Helps Prevent Oil Burn Spike
...D) CONVERTED FROM BTU TO CFD UNTIL 2011. SOURCE: SAUDI ARAMCO, MEES. 2. SAUDI OIL BURN WAS FLAT YEAR-ON-YEAR IN Q3 DESPITE INCREASED POWER DEMAND ('000 B/D) *PRESUMES ALL FUEL OIL CONSUMPTION IS BURNED: SOME IS USED IN MARINE BUNKERING. EXCLUDES SMALL VOLUMES OF DIESEL. **JULY-AUG AC...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
Libya’s One Million Barrel Question
...gitimacy to rule Libya. Several power-hungry players have held the oil industry hostage to their political ambitions since the overthrow of Muammar Gaddafi in 2011. This time is no different and there is no end in sight. ...
Volume: 63Issue: 39Published at Fri, 25 Sep 2020 -
Gulf Producers See Rig Count Slump
...ing forward. The situation is especially acute in the offshore, where the rig count slumped to 15 for July and August. This is the first time since 2011 that the offshore rig count been at or below this level for two consecutive months. It comes after Aramco suspended a number of contracts for rigs th...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Egypt: Key Shell Offshore Gas Project Faces Uncertainty
...d Shell are also partners at Cyprus’ 4.1tcf 2011 Aphrodite discovery, for which the development plan is also a tie-back to Idku. MEES learns that talks between Shell and Chevron have covered the possibility of combining Leviathan Phase II and Aphrodite development. Chevron and Noble CEO’s Mi...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
Tunisia’s Oil Industry Faces Existential Crisis
...nce the 2011 Tunisian Revolution. If there is a potential upside it is that two smaller firms, Mazarine Energy and Panoro Energy, have both shown to be willing underdogs. Led by former Shell engineer Edward van Kersbergen, Mazarine came from nothing to produce upwards of 2,000 boe/d and ev...
Volume: 63Issue: 33Published at Fri, 14 Aug 2020 -
Saudi Arabia Gas: New Facilities, Greater Flexibility
...RIL ('000 B/D) PRESUMES ALL FUEL OIL BURNT IN POWER PLANTS (SOME IS USED AS INDUSTRIAL & BUNKER FUEL). SOURCE: JODI, MEES. 3: SAUDI ARABIA SALES GAS OUTPUT HAS BEEN CONSISTENTLY CLIMBING YEAR-ON-YEAR (BN CFD) CONVERTED FROM BTU TO CFD UNTIL 2011. SOURCE: SAUDI ARAMCO, ME...
Volume: 63Issue: 26Published at Fri, 26 Jun 2020 -
Algeria Looks To Reduce Reliance On Morocco Pipeline
...rocco and Spain, Medgaz was the more recent to start up in 2011. Capacity lags that of the 11.5bcm/y Maghreb–Europe Gas Pipeline (GME) which connects Algeria to Spain through Morocco. But Morocco is set to take ownership of its GME section next year. With the clock ticking the two countries have yet to...
Volume: 63Issue: 23Published at Fri, 05 Jun 2020 -
Cyprus Drilling Plans Slashed With Capex Cuts
...kkotrypis says. How long is anyone’s guess. And what of Cyprus’ first ever gas discovery, 4.1tcf Aphrodite, made in 2011 but stuck on the shelf ever since. Operator Noble of the US (35%) together with partners Shell (35%) and Israel’s Delek (30%) had planned a second appraisal well late this or early ne...
Volume: 63Issue: 16Published at Fri, 17 Apr 2020 -
Neutral Zone Restart: 2mn Barrels Exported
...nopec has a 400,000 b/d refinery. Sinopec also has substantial crude storage facilities at Maoming, having completed a 12mn barrel facility there in 2011. After Dar Salwa had left, the Monte Toledo Suezmax tanker then loaded another 1mn barrel cargo of Khafji crude and departed on 8 April. Monte To...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Egypt Upstream Spending Slashed With Oil Price ‘Disaster’
...,700 b/d for 2020, the lowest since 2011. And, with a total halt to drilling, a further sharp fall in 2021 is all but inevitable. Plans for 16 wells in Egypt in 2020 have been slashed to just one development well which had “already spudded prior to the price disruption.” Exploration spending, including the fo...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020 -
Stars Align As Exxon Hikes Egypt Commitment
...ock where the major drilled nine wells – and discovered gas in sub-commercial quantities (MEES, 5 May 2008) – before quitting in 2011. Before 2016 Exxon held no upstream stakes in the East Mediterranean but now it holds four blocks; three in Egypt and one in Cyprus. Exxon also, along with French ma...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Libya: Output At Seven-Year High; Can It Last?
...solved two long-running contractual disputes with industry heavyweights Total and Wintershall Dea. Both firms committed to fresh exploration and development projects (MEES, 13 December 2019), something of a rarity for Libya since 2011. Success for Libya will depend on how much of a return IOCs and co...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Libya’s NOC Clears House With Key End-Year Deals
...e tighter terms (MEES, 9 March 2009). Of course the pressure eased in 2011 when Libya had other problems, but Wintershall, now Wintershall Dea, finally agreed to sign up to them this week. Unlike Wintershall, the Waha concession will retain special contractual terms. But in order to secure part of...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Russia’s Tatneft Back In Libya For Seismic
...rced to exit in 2011 when Libya’s civil war kicked off. It returned in 2013 but had to pack its bags the following year due to civil strife. Flare-ups in violence have continued since, making it exceedingly difficult for NOC to encourage IOCs to restart exploration work. Tatneft’s return will be we...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019