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Apache Resigned To Further Fall In Egypt Oil Output
...very measured.” With the firm’s Egypt capex and rig count already having fallen to the lowest in over a decade, further cuts are planned for 2021 with an average of just five rigs set to be active in Egypt versus a peak of 27 in 2013 and 2014 (see chart 2). This means output is all but gu...
Volume: 64Issue: 09Published at Fri, 05 Mar 2021 -
Repsol & Shell Leave Morocco; Repsol Quits Iraqi Kurdistan
...iting pending official ratification.” Repsol has since 2014 held 75% of Ghrab Offshore Sud, a deepwater ‘Atlantic margin’ block some 100km northwest of Rabat (state firm ONHYM has 25%) and further offshore from the firm’s 2009 'sub-commercial' Anchois discovery. The sole activity here in recent years ha...
Volume: 64Issue: 09Published at Fri, 05 Mar 2021 -
India LNG Imports Soar To Snag Top Spot For Qatar & Abu Dhabi
...tar remains well ahead in India, with a 39.5% market share for 2020. However, Qatar’s market share has fallen for each of the past seven years: the record 11.9mn tons Qatar supplied in 2014 gave it a market share of over 85%. *But Qatar isn’t the only Mideast producer for which India is the ke...
Volume: 64Issue: 09Published at Fri, 05 Mar 2021 -
Israel & Egypt’s Blossoming Energy Relationship
...ck in 2014 signed Letters of Intent to pipe Leviathan gas to Idku (MEES, 4 July 2014) and Tamar gas to Damietta (MEES, 9 May 2014). Tying back Leviathan to one of the existing-but-underutilized Egyptian LNG plants always made sense economically. The estimated cost of $3bn, including four ad...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Qatar Brokers Israel-Gaza Gas Supply Deal
...ywhere near the 140MW of potential capacity (MEES, 30 May 2014). The PA’s Mr Melhem is evidently aware of this. Increasing Israel-to-Gaza power transmission “would imply the construction of a high-voltage line, replacing the existing medium-voltage lines. It would reduce tariffs. We discussed the pr...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Shell & Petronas At Odds Over Egypt Expansion
...indled from 1.2bn cfd in 2012 to around 500mn cfd now. The WDDM slump is the result of a combination of high underlying decline rates, underperforming wells and slashed investment amid soaring receivables in the years following Egypt’s 2011 revolution (MEES, 7 February, 2014). Shell in early 2018 dr...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Iraq Struggles To Find Developers For Mansuriya Gas Field
...%). The consortium halted development of the Diyala province field in 2014 due to Islamic State attacks across the province (MEES, 10 October 2014). Security concerns remained despite the Islamic State being pushed back, and in 2018 Baghdad announced it would develop the field itself (MEES, 3 August 20...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Egypt Oil Output Plumbs New 40-Year Low For 2020
...nai). *The Western Desert, which overtook the Gulf of Suez region as Egypt’s key production area in 2011 and has provided over half of production since 2014, saw output fall 7% to a 9-year low of 321,000 b/d for 2020. December’s 290,000 b/d was the lowest monthly figure since May 2010. This comes as the re...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
Iraq Mulls Power Sell-Offs Amid Cash Crunch, Pre-Election Rivalry
...rliamentary elections planned in October. Kar’s most prominent role is as operator of the 160,000 b/d Khurmala Dome of the Kirkuk field in Iraq’s autonomous Kurdistan region. It also contentiously operated Kirkuk’s Avana Dome and the nearby Bai Hassan field between 2014 and 2017 until federal forces re...
Volume: 64Issue: 06Published at Fri, 12 Feb 2021 -
Kuwait Cuts Long Term Targets For Giant Burgan Field
...ture field, having first been discovered in 1938, and production capacity has fallen in recent years (see chart). In 2014, capacity was around 1.7mn b/d and KOC’s goal was to maintain capacity at that level. BP was brought to the field in 2014 under a technical service agreement (TSA) to help maintain Bu...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Services Firms Diversify Away From Volatile Us Shale
...ia’ share of revenue rose to a record 36.3%, above that of North America (just 24.0% for 2020) for the first time in four years (see charts). Mideast & Asia 2020 revenue was 72% of the 2014 peak: North America revenue is down two-thirds and overall revenue down 50% over the same period. Ha...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Libya’s Power Sector In A Race Against Time
...at Libya has had rival eastern and western governments since 2014 hasn’t exactly helped matters. The parallel administration in the east has its own power authority which has complicated efforts to coordinate operations and policies. Libya’s new unity leadership which was in the process of being se...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Qatar Export Revenues Fall 30% In 2020
...s current level of 77mn t/y in 2011. The figure is considerably lower than at the height of the collapse precipitated by the oil price slump from late 2014. Then annual revenues bottomed out at $57.3bn in 2016 (see chart 1). However, Qatar has had considerable success in reducing its import tab in...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Baker Hughes Finally Inks Gas Processing Contract in Southern Iraq
...Oil, amounting to a huge 51.3% of wellhead output (see chart). Yet for Iraq, these poor figures count as something of a success. Total gas flared last year was the lowest since 2014, while the proportion flared is similar to that of 2010. Since then, crude output grew rapidly following contract aw...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Gas Plant Inauguration Boosts Iran’s Petchems Outlook
...an’s demand for gas feedstock (MEES, 10 October 2014). Much of this has been sourced from the giant South Pars gas field which Iran shares with Qatar, but Iran’s routine flaring of associated gas has long offered another source. Iran’s wasteful flaring puts it behind only Iraq (see p4) in the re...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Jordan Nears 20% Renewables Generation, Oil Shale In Limbo
...e start of imports from Israel’s giant Leviathan field under a 15-year, 45bcm supply deal signed in 2014 (MEES, 5 September 2014). The US-backed deal faced significant opposition on the Jordanian street, but its prompt 1 January startup last year saw Israel emerge as the biggest supplier to Jo...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Kurdistan Oil At Center Of Iraq Budget Disputes
...tlines a mechanism for KRG debt repayment by the federal government whereby Erbil is expected to share data on its external debts and loans accumulated in 2014-2019 with the Ministry of Finance 30 days upon approving the budget by parliament. Ninety days later, a joint committee that includes Iraq’s state au...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Algeria Sees $10.6bn 2020 Trade Deficit With Revenues At 18-Year Low
...aded south in late 2014 (see chart 1). Other oil exporters were forced to adopt emergency measures when the Covid-19 pandemic saw prices and demand collapse in March last year. But Algeria has never come close to exiting crisis mode since 2014. Even then, on the back of three years of blowout sp...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Iraq Awards New Refinery At Nasiriya - ref
...stribution and marketing sectors are wholly state-owned and end-user prices are heavily subsidized. Investors are therefore only attracted to refining projects targeting export markets. Iraq’s oil ministry has however made some progress in restoring norther refining capacity taken out by Islamic State in 2014...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Saudi Crude Exports To Take Fresh Hit Amid Voluntary Cuts
...fining runs at the height of lockdown. Jodi data up to October shows Saudi refining runs averaging 2.14mn b/d over the first ten months of the year, putting throughputs on course for their lowest year since 2014. Nevertheless, refining runs had recovered to pre-Covid levels by the end of 2020 and so th...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021