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Lebanon: Can Donor Conference Success Right The Ship?
...esent problem since. Since 2011, the war in neighboring Syria has crippled economic growth (see chart), stunting the 9.2% average annual growth from 2007-2010 to a paltry 1.7% from 2011-2017 (see chart 2). With a bloated public sector, subsidized (yet inadequate) utilities and corruption a problem ev...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Iran Looks To Europe As Trump Fears Threaten Embattled Economy
...nctions from 2011 onwards had proven effective was that the Obama administration was able to secure the buy-in of the EU and Iran’s key customers in Asia. China, Japan, India and South Korea imported a combined 1.4mn b/d from Iran in 2011, equivalent to around 55% of total Iranian export volumes. This fe...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Qatar & Sudan Deepen Ties
...lationship following Qatar’s mediation role in the Darfur conflict, which resulted in the 2011 Doha Document for Peace in Darfur. And Qatar is in need of friends having faced a regional embargo since June 2017. The main players in the Qatar dispute are Saudi Arabia, the UAE, Bahrain and Egypt. Khartoum ha...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Israeli Gas Development: Can The Domestic Power Market Absorb It?
...viathan discovery to development (MEES, 10 January 2011). Subsequent nearby discoveries, such as Karish and Tanin, were seen as potential long-term tie-ins to the company’s two offshore giants. So there was no hurry to further appraise the fields. What is more surprising is that Energean – which pu...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Algeria Struggles To Maintain Gas Output Amid Project Delays
...ntract.’ Its expiry in 2011 saw BHP quit Algeria and Sonatrach take over as operator. The latest figures imply that by the 2020 start-up of the Tinhert fields, Ohanet output is expected to be just 5mn m³/day (175mn cfd, 1.8bcm/y). This is borne out by the most recent available Sonatrach data which pegs Oh...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Total Reasserts Position As Dominant IOC In Mena On Back Of Abu Dhabi Deal
...posure in recent years. Regional gas output, peaked at 1.46bn cfd in 2011, but suffered its fourth consecutive annual fall in 2017, averaging less than 800mn cfd. The biggest hit has been from regional conflicts, with no Syrian volumes since 2011 and nothing from Yemen since 2015. Combined output fr...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Eni Swoops For Abu Dhabi Offshore, Sells Mubadala 10% Of Egypt’s Zohr
...quisitions annually to 2025 and that it’s targeting the Middle East’s burgeoning demand. ENI’S MIDDLE EAST PUSH Eni’s traditional stomping ground has been the Mediterranean and North Africa. Within the Mena region, North Africa provided Eni with 233,000 b/d net output in 2017, the lowest since 2011’s 20...
Volume: 61Issue: 11Published at Fri, 16 Mar 2018 -
Sudan’s Upstream Oil & Energy Sector: Investors Sought But IOCs Remain Cautious
...ABILIZED AFTER SOUTH SUDAN’S 2011 SECESSION BUT HAS DWINDLED SINCE 2015 ('000 B/D) *TO MID-MARCH. SOURCE: IEA, BP, MEES. Last year saw the easing of wide-ranging western sanctions after 20 years. Their key legacy is that the country’s upstream (and that of South Sudan) is dominated by st...
Volume: 61Issue: 11Published at Fri, 16 Mar 2018 -
Lebanon Looks To Put Fiscal House In Order
...With the world’s third highest debt-to-GDP ratio and annual growth averaging just 1.7% since 2011, the Lebanese economy needs crucial assistance. Saad Hariri’s government aims to cut this year’s deficit and upcoming donor conferences may help. But can efforts overcome the structural issues im...
Volume: 61Issue: 11Published at Fri, 16 Mar 2018 -
Total Expands In Libya With Marathon Waha Purchase
...e more prosaic press release announcing the deal. Prior to 2011, Waha had production capacity of 360,000 b/d from a portfolio of fields and exploration acreage spread across Libya’s Sirte Basin oil heartland. Actual 2010 output was somewhat lower, at 280,000 b/d, netting Marathon and fellow 16...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Syria’s Eastern Oil Fields: The Post-War End-Game
...nce 1996 when it neared 600,000 b/d, but natural gas output was on the rise until the war retarded its development. Key gas fields are near Palmyra in the center of the country. Output increased from 870mn cfd in 2010 to 1.05bn cfd in 1Q 2011 with the ramp up of the Hayan gas project (MEES, 14 Se...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Algeria Gas Set For Record 2018 With Start-Up Of Key Southwest Fields
...tal (37.75%), alongside Abu Dhabi-owned Spanish firm Cepsa (11.25% – until 2011 Total owned 50% of Cepsa) and state energy company Sonatrach (51%). The start-up follows a new contractual framework agreed between the partners and Algeria’s state licensing body Alnaft on 12 December. South Korea’s Sa...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Saudi Pushes On With Nuclear Plans Despite US Concern
...Status Operating 1.0 Iran Bushehr-1 2011 1....
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Noble East Med Plans Gather Pace
...lks to send Aphrodite gas to Egypt were at an advanced stage. Discovered in December 2011, Noble has been unable to reach Final Investment Decision (FID) on the field due to a mixture of the field’s relatively modest size, low gas prices and its location 160km offshore and in almost 2,000ms water de...
Volume: 61Issue: 09Published at Fri, 02 Mar 2018 -
Abu Dhabi Awards Offshore Stake To State-Owned Firm Cepsa
...ter an Indian consortium was awarded 10% in the 360,000 b/d Lower Zakum concession (MEES, 16 February). Cepsa, a Spanish-based integrated oil firm, was acquired by Abu Dhabi investment vehicle IPIC in 2011. IPIC then merged with fellow state-firm Mubadala last year, with the combined entity known as...
Volume: 61Issue: 08Published at Fri, 23 Feb 2018 -
Egypt Gas Hub Plans: Goal Or Own Goal?
...rminals at Idku and Damietta on the Mediterranean coast. Noble and Delek’s partner Anglo-Dutch major Shell at Cyprus’ 4.2tcf Aphrodite. Talks have taken place this week to send gas to Egypt, although they remain at a preliminary stage. Aphrodite was discovered in 2011 and a development plan has yet to be an...
Volume: 61Issue: 08Published at Fri, 23 Feb 2018 -
US Poised To Compete With Saudi Arabia As World’s Largest Oil Exporter
...0,000 b/d (9%) year-on-year (see table for full data). This was largely driven by major export cuts in Q3, when volumes of 6.65mn b/d were the lowest since Q1 2011. Crude exports bottomed out at 6.55mn b/d in September (the lowest since March 2011) but exited the year at 7.05mn b/d in December. MEES es...
Volume: 61Issue: 08Published at Fri, 23 Feb 2018 -
Egypt Gas Turns The Corner, But Can It Maintain Investment?
...d IOC executives descended on Cairo this week to attend the 2nd annual Egypt Petroleum Show (EGYPS) as Egypt intensifies efforts to attract investment in its hydrocarbons industry. The country has been reeling since the 2011 Arab Spring revolutions which scared off investors. Petroleum Minister Ta...
Volume: 61Issue: 07Published at Fri, 16 Feb 2018 -
Eni Cyprus Discovery: ‘Good-Good-Good, Or Just Good’?
...Eni’s Calypso Cyprus discovery could be bigger than Zohr. Complex geology means more drilling is needed. But CEO Claudio Descalzi says at a minimum the field will be a Zohr tie-in, with a stand-alone Cyprus LNG project a real possibility. This would also boost development prospects for the 2011...
Volume: 61Issue: 07Published at Fri, 16 Feb 2018 -
East Med Gas: Troubled Waters
...e incentives for Lebanon’s government. Whilst any sort of comprehensive peace agreement remains as far away as ever, the US has attempted to mediate a de facto agreement on their maritime boundary. In 2011 it sent diplomat Frederick Hoff to Lebanon in hopes of resolving the dispute. The so-ca...
Volume: 61Issue: 07Published at Fri, 16 Feb 2018