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Libya Could Run Out Of Cash Sooner Rather Than Later
...sses of $2.4bn a month. If the rate of decline continues, reserves would be exhausted by August 2017. But in the past two years, the depletion in reserves has been accelerating, meaning that Libya could run out of funds by early 2017, according to MEES calculations. The IMF, in its latest regional ec...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Iran Selects 49 Oil, Gas Projects Open For Foreign Investment
...ar in early 2014 to 330 bcm/year by 2017. The list, revealed on the ministry news service by Abdol-Mohammad Delparish, director of consolidated planning at the state-run National Iranian Oil Company (NIOC), comprises a host of projects that are at various stages of exploration and development. 28 of...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Oman Planning for Spot Power
...pire in 2017, with five more finishing by the end of 2020. While some PPAs will continue beyond the introduction of the spot market, the new rules will provide “an alternative way for producers to sell power to OPWP” (MEES, 7 February 2014). NERA has already advised the GCC Interconnection Au...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Qatar Seeks New IOC Partners To Develop Al-Shaheen Oilfield
...om al-Shaheen,” says Jakob Thomas, CEO of Maersk Oil, adding that the company had known that it would be challenged on terms and conditions in connection with the 2017 extension, and had been waiting for more information from QP on how they wished to proceed. That uncertainty was making it difficult fo...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Oman Eyes Liwa Close, Prepares Duqm
...rst phase due to start up in 2017. The purified terephthalic acid (PTA) plant will utilize paraxylene feedstock and will itself provide PTA feed for two linked 250,000 t/y polyethylene terephthalate (PET) plants. Ompet – a joint venture between state firm Oman Oil Company (OOC – 50%), Oman’s Ta...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Egypt: Solar Ambitions Soar, But Like Icarus?
...cently NREA awarded Spain’s Gamesa a €220mn turnkey contract to build a 220MW wind farm at Gulf of El-Zayt on the western Red Sea coast. This too was first proposed in 2010, but is now due to start up in 2017 (MEES, 24 April). EGYPT’S RECENT RENEWABLES DEALS (GW) Co...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Iraq, KRG Oil Export Deal Holds Despite Discrepancies
...eld to 2017 or beyond. (MEES, 1 May). ...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Iran Readies Upstream Opening In Anticipation Of Nuclear Deal
...to shut-in production. Raising gas production has also been high on the ministry’s to-do list, particularly since the current minister came back into the oil ministry fold. Iran has targeted a doubling of domestic gas output from around 165 bcm/year in early 2014, to 330 bcm/year by 2017 – fu...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Japan’s Inpex Adds Onshore Abu Dhabi Stake To UAE Portfolio
...curing a share in the 40-year license, Inpex joins France’s Total as the second foreign oil company to be awarded a stake in the restructured Adco concession, where output is set to rise to 1.8mn b/d by 2017. It also pipped its South Korean rivals to the post, though both GS Energy and Korea National Oil Co...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Eni Ramps Up Western Desert Output As Cairo Looks To Cut Through Red Tape
...st year, BP agreed to expedite development of WND with first gas by 2017, in return for a further hike in gas price beyond the $4.1/mn BTU that BP and its partner Dea (formerly RWE-Dea) originally secured (MEES, 15 March). The latest deal specifies output starting at 450mn cfd in 2017, rising to 80...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Petroceltic Upbeat On Ain Tsila As Sonatrach Calls For Cost Cuts
...ard of the Isarene Production Sharing Contract (PSC) dates back to April 2005. Last year, the target date for first gas slipped from a previous estimate of late 2017 to 2018 (MEES, 23 May 2014). At the time, the company estimated the costs of drilling operations at around $1.5 bn. Production start is no...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Jihadists Take Iraq’s Baiji Refinery; Shell Delays Majnoon
...st, if not all, of the sprawling facility in central Iraq, if a videotape of the battle released by the Jihadist group is to be believed. Shell, meanwhile, says it has pushed back full development plans for the Majnoon oil field to 2017 or beyond, suggesting that further growth in Iraqi production wi...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
DEWA Urges Consumers To ‘Think Smart’ Under New Electricity Strategy
...0 Total 9,656 470 Planned Additions Solar Park 2 (2017) 200 Jebel Ali M Expansion (20...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Saudi Top Oil Brass On China Charm Offensive
...“the second frontier for unconventional after the US,” says Mr Falih. Saudi Arabia has identified three areas with high shale gas potential, one of which in the north near the Jordanian border where production is expected to start in 2016 or 2017. ...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
UAE: South Koreans Hope To Expand Presence Through Adco
...oduction of 1.8mn b/d by 2017, when total capacity in the Opec member state is expected to rise to 3.5mn b/d though that deadline appears to have slipped slightly. There was a tacit understanding when Adnoc invited bids for the new concession that 5% stakes would be reserved for Asian companies from Japan, So...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
BP: Khazzan Unaffected By Oil Price Slump
...0 wells in total. BP says gas in place totals a massive 100 tcf. “2017 is when we plan to have first gas from the field, and that will ramp up to 1bn cfd,” Mr Townshend told reporters on the sidelines of the Middle East Petroleum and Gas Conference (MPGC) on 20 April. And while Mr Townshend ch...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Aramco Awards Final Big Jazan Contract; Yasref Ramp-Up Boosts Light Products
...mpletion in 2017. In the 15 April issue of ‘Arabian Sun,’ Aramco’s in-house magazine, Aramco says it has awarded detailed design for the refinery, while “the procurement of materials is ongoing, and lay-down yards are already filling up with pipes and steel that is ready for assembly.” Jazan re...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Aramco Secures Jazan Feedstock; More Saudi Projects Planned
...16 Rawec Exp (Rawec) 0.16 5 2016 Shuqaiq (SEC) 2.64 80 2017 PP13 (SE...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Gamesa On For Egypt Wind Farm
...EGYPT Gamesa On For Egypt Wind Farm Egypt’s New and Renewable Energy Authority (NREA) has awarded a €220mn turnkey contract to Spain’s Gamesa for the 220MW Gulf of El Zayt wind farm on the western Red Sea coast. Gamesa says that the plant is expected to start up in 2H 2017. Gamesa wi...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
Firms Face Up To Mounting Libya Write-Offs
...pairment – rated the chances of a full resumption of operations on 1 January 2016 and 1 April 2017 at 50% each. TOTAL’S LIBYA OUTPUT (‘000 B/D, NET) 2010 2011 2012 2013 20...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015