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Shell Discovery Offers Hope As Egypt Gas Output Slide Continues
...August) has yet to result in a substantial output hike. The region’s output was flat month on month at 285,000 b/d for August despite rig count figures showing that drilling in the Western Desert is at the highest level since December 2014 (see chart 2). In addition to Apache, which says its ou...
Volume: 66Issue: 41Published at Fri, 13 Oct 2023 -
Israel Halts Tamar & EMG Flows As Fight With Hamas Continues
...wer in 2014, the pipeline has remained intact. REVERBERATING RAMIFICATIONS The ongoing war is also likely to impact future energy-related decisions, not only related to Israel but also Lebanon, as well Gaza itself: development of its 1tcf Gaza Marine field is sure to be kicked into the long gr...
Volume: 66Issue: 41Published at Fri, 13 Oct 2023 -
Hopes For Libyan Unity Fade In Wake Of Flooding Disaster
...untry’s east since 2014 (MEES, 22 May 2020), the flooding disaster has offered an opportunity to leverage the new state of emergency to empower his sons and support their political ambitions, further strengthening the Haftar family’s grip on eastern Libya. The ailing 79-year-old patriarch, who an...
Volume: 66Issue: 41Published at Fri, 13 Oct 2023 -
BP/Adnoc Deal For Israel’s NewMed Under Threat
...inked in 2014 between Woodside and NewMed (Delek Drilling at the time) for a 25% of Leviathan fell apart just hours before it was due to be inked due to reported clashes between the Australian firm’s hierarchy and Mr Tshuva (MEES, 23 May 2014). BP and Adnoc will not be expecting to take full co...
Volume: 66Issue: 40Published at Fri, 06 Oct 2023 -
Iraq Touts Gas Export Ambitions Despite Severe Shortages
...rectly supply IOC-operated power plants. This is especially the case at the Eni-operated 500,000 b/d Zubair field, where a 2014-built 700MW gas-fired plant is “using gas that is rich in LPG and condensates for power” according to a source. As per article 10 of Eni’s Technical Services Contract for Zu...
Volume: 66Issue: 39Published at Fri, 29 Sep 2023 -
Iraq’s Karbala Refinery Hits Full Capacity Despite Unresolved Technical Issues
...nancial delays that have afflicted other capital projects in Iraq, not least the Karbala refinery itself which was awarded almost a decade ago (MEES, 10 January 2014). A much-delayed 2015 project to add a new 70,000 b/d CDU at the 350,000 b/d Basrah Refinery is now slated for end-year completion, af...
Volume: 66Issue: 39Published at Fri, 29 Sep 2023 -
Oman Wields Oil Profits To Slash Debt In Fiscal Reform Push
...in shocks of the 2014-15 oil price crash and then the Covid-19 pandemic, the recently enthroned Sultan Haitham bin Tarik Al Said at the end of 2020 moved ahead with a series of reform packages to reorient the national economy (MEES, 17 September 2021). Oman is now more than halfway through the Medium Te...
Volume: 66Issue: 39Published at Fri, 29 Sep 2023 -
Egypt Presidential Elections
...untry’s current financial turmoil that has seen it turn to the IMF, World Bank and its Gulf allies for financial assistance (MEES, 24 March). President Sisi was first elected in 2014 following the ouster of Muslim Brotherhood-backed President Mohammed Morsi, and was re-elected with 97% of the vote in 20...
Volume: 66Issue: 39Published at Fri, 29 Sep 2023 -
Oman Starts Work On 500MW Solar In Bid To Triple Renewables Capacity By 2025
...s awarded alongside. The remaining 50MW of Oman’s current capacity comes from the Dhofar Wind Power Project at Harweel in the south of the country. Abu Dhabi’s Masdar, Spain’s TSK, and US firm GE were given the go-ahead in 2014 leading to generation starting in 2019 (MEES, 16 August 2019). 30...
Volume: 66Issue: 38Published at Fri, 22 Sep 2023 -
Asian LNG Imports: China Drives Demand Despite Record Overland Russia Volumes
...21 (30.1mn tons) came much more recently than that of Japan (88.51mn tons in 2014), the recent trend has been similar. Korea has reversed previous plans to phase-out nuclear power and as a result LNG is set to play a lower-than-previously-envisaged role in the country’s powergen mix. For 8M 2023 Ko...
Volume: 66Issue: 38Published at Fri, 22 Sep 2023 -
Kuwait Refinery Restart
...anim al-Otaibi reporting the same day that the refineries were back at full capacity. Power outages at the plants are not new (MEES, 31 January 2014), and high temperatures in Kuwait have seen electricity demand hit new records with the strain seeing several substations shut down in recent weeks (see p1...
Volume: 66Issue: 38Published at Fri, 22 Sep 2023 -
Turkey Claims Iraq Owes Nearly $1bn In Net Arbitration Damages
...accrue further interest until payment, or amicable resolution. Turkey’s claim is that “Iraq’s damages date from 2014 to 2018 – a period of relatively low [Turkish] bond yields,” and therefore “far more interest has accrued on Türkiye’s damages” which date back to 1990 until 2011. Based on...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Eni Spuds Key Morocco Wildcat
...per Jurassic but that the find was insufficient to justify testing (MEES, 21 March 2014). However it is worth noting that the subsequent decisions by both Cairn and Galp to quit their acreage and walk away from Morocco in 2015 and 2016 respectively were driven more by the collapse in oil pr...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Algeria: Key Southwest Gas Field Start-Ups Boost Exports To 7-Year High
...d Reg Mouaded were originally to be developed by the UK’s BG (now Shell), and the Hassi Mouina license containing Hassi Tidjerane and Tinerkouk by Norway’s Equinor before the foreign firms walked away in 2013 and 2014 respectively having failed to agree commercial terms with Sonatrach (MEES, 29 May 20...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Libya Eyes 10,000 B/D 1H24 Output At North Hamada
...w a pipeline connection between Tahara and the parallel El Feel/Sharara to Zawiya/Mellitah trunk crude pipelines. Full development of the seven fields on Area 47’s Block 2 on which commerciality was declared in 2011 and 2014 is slated to produce 50,000-60,000 b/d liquids and 90mn cfd gas with ou...
Volume: 66Issue: 35Published at Fri, 01 Sep 2023 -
Iraq’s Ageing Basra Infrastructure: Can It Take The Strain?
...e onshore bottlenecks. Yet it is far from clear whether or not BOC can sustain high exports through these facilities, and whether more SPM replacements are needed. All the four operational SPMs were installed between 2012 and 2014, although UK contractor Petrofac, which has a maintenance co...
Volume: 66Issue: 35Published at Fri, 01 Sep 2023 -
Egypt Oil Output Gains Pick Up Pace But Gas Woes Continue
...e rest of the year that will come online,” he says. The Western Desert’s total rig count averaged 79 for Q2 this year, the highest since Q4 2014. Egypt remains a key region for Apache, with ‘Apache Egypt’ capex (including a 1/3 stake held by China’s Sinopec) rising 8% quarter-on-quarter to $20...
Volume: 66Issue: 32Published at Fri, 11 Aug 2023 -
Libya Exploration Looking Up As Eni & BP Lift Force Majeure
...11. It again planned to kick off drilling in 2012 before instability picked up (MEES, 4 June 2012). BP declared force majeure in 2014, and in 2015 wrote off the $598mn it had spent up till then on “exploration and other costs in Libya” (MEES, 31 July 2015). Eni in 2018 agreed to take over as op...
Volume: 66Issue: 31Published at Fri, 04 Aug 2023 -
Softening Oil Sector Puts Brakes On Saudi Growth
...in Q2 according to preliminary government figures, to 5.5% from Q1’s 5.4%. It has now notched up five consecutive quarters above 5% for the first time since 2014. However, given the extent to which the economy is dominated by the oil and gas sector – which is itself undergoing an extensive ca...
Volume: 66Issue: 31Published at Fri, 04 Aug 2023 -
China Deals Push Qatar LNG Back To Top Spot
...uivalent to China’s total spot purchases from Qatar over the 2014-2021 period. This was enough to lift spot sales to Asia by nearly 2mn tons to a six-year high 8.5mn tons, with modest gains also registered for spot sales to India and even Japan. Meanwhile, spot sales to Europe edged up by just 35...
Volume: 66Issue: 30Published at Fri, 28 Jul 2023