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Dana Gas Positive On UAE, Egypt, But Kurdish Receivables A Major Concern
...rect from the Khor Mor plant through local contractors.” As part of their 3Q financial statements, Dana Gas states that Pearl invoiced the KRG for 200mn cfd of “excess gas” for the period January 2011 to May 2015, totalling $1.498bn. Dana Gas’s 40% share is worth $599.2mn. However, the KRG’s cu...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Libya: Little Sign Of Optimism In Operators’ Q3 Results
...pically produced 100,000 b/d prior to Libya’s 2011 revolution. But, despite a lack of fighting or incidents in the vicinity of the fields themselves, port and/or pipeline closures have meant that output has been only sporadic in recent months, and with the exception of a brief period in October, has been at...
Volume: 58Issue: 45Published at Fri, 06 Nov 2015 -
Libya Oil: A Write-Off?
...mar al-Qadhafi in October 2011. Despite the political turmoil, BP made several efforts to pursue the development of its business in Libya, which consists entirely of exploration assets. In 2012, the company dusted off its plans and held two major tenders: the first, for contractors to work on its pl...
Volume: 58Issue: 31Published at Fri, 31 Jul 2015 -
Wintershall Eyes Future Opportunities In Libya Despite Onshore Production Shut-In
...August 2012). Wintershall Libya is 51% owned by German chemicals firm BASF and 49% owned by Russian state gas giant Gazprom. Key assets are the C96 and C97 blocks in the east of Libya’s Sirte Basin oil production heartland, which typically produced 100,000 b/d prior to Libya’s 2011 re...
Volume: 58Issue: 23Published at Fri, 05 Jun 2015 -
ENOC Moves Ahead With Offer To Absorb Dragon Oil
...though the UAE raised gasoline prices twice in recent years, it deferred a third price in the wake of the Arab revolutions of 2011, fearful of a backlash. Federal law requires that Enoc and its subsidiary Emirates Petroleum Products Company (Eppco) sell gasoline at the government mandated price. In 2011, th...
Volume: 58Issue: 22Published at Fri, 29 May 2015 -
Companies Scale Back Libya Expectations
...nce 2011 (MEES 24 April). The impairments “mainly related to the deteriorating security situation this quarter,” said Total’s chief financial officer, Patrick de la Chevardiere, in a conference call on 28 April. “We have fully impaired our onshore fields in Libya, which is most of the charge, as we...
Volume: 58Issue: 21Published at Fri, 22 May 2015 -
Majors’ 2014 Mena Output: Data Analysis
...10 2011 2012 2013 2014 Mideast Gulf* 478 567 548 545 381 of which: UA...
Volume: 58Issue: 15Published at Fri, 10 Apr 2015 -
Aramco International Drive Gathers Pace With Mufti Appointment
...em. And we want to use this transformation to help facilitate a globally competitive Saudi energy sector and a sustainable and diversified expansion of the kingdom’s economy.” A statement posted on the company website in May 2011 said the strategic review involved detailed assessment of global and re...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Gulfsands Struggles For Cash As Syria Return Recedes
...nce it abandonded the asset and declared force majeure in December 2011, shortley after the start of the Syrian conflict. The “facilities remain in good order in Syrian/Kurdish controlled areas,” Gulfsands says, adding that the firm is “entitled to receive [its] revenue share for oil produced since mi...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
BP Stakes Out Key Role In Egypt’s Gas Renaissance – If The Price Is Right
...rth of the city of Damietta and 45km to the north west of the Eni-operated Temsah offshore facilities. The North Damietta offshore block lies north of the BP-operated Ras El Bar and Eni operated Temsah and North Port Said blocks, which collectively produced around 1.1bn cfd for 2013. Meanwhile, BP in 2011...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015 -
Dea Looks To Expand With $10Bn War Chest
...ainst Russia. London cited the example of the North Sea’s Rhum field – 50% owned by Iran’s NIOC – where production was halted by western sanctions on Iran in 2011. Mr Davey says that L1 will likely have to sell on the North Sea assets to a third party. The transaction had been in doubt since la...
Volume: 58Issue: 10Published at Fri, 06 Mar 2015 -
Gulf Keystone ‘For Sale’ Amid Kurdish Cash-Flow Woes
...LLIONS IN DEBT PILING UP DNO’s Executive Director Bijan Mossavar-Rahmani said in December at a London conference that the Norwegian independent alone was owed more than $1bn by the KRG while debts to Dana Gas, part of the Pearl Consortium developing the Khor Mor gas field, which began producing in 2011...
Volume: 58Issue: 09Published at Fri, 27 Feb 2015 -
Egypt Eyes Listing State Firms, Seeks Outside Investment
...centives for would-be investors. Also Egypt is amending and redrafting a number of economic laws to attract fresh investments and revive its economy battered by political turmoil since early 2011. The announcement this week that Egypt had signed memorandums of understanding (MOUs) with Kuwaiti companies fo...
Volume: 58Issue: 08Published at Fri, 20 Feb 2015 -
Mauritania Exploration: One Step Forward, Two Steps Back
...negal – a likely “commercial discovery” according to Cairn CEO Simon Thornton. PETRONAS TO QUIT? Mauritania currently only has one producing field, Chinguetti, where output has declined precipitously from 75,000 b/d at February 2006 start-up to 7,400 b/d for 2011, 5,800 b/d for 2012, and 5,400 b/d fo...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Qatar Shelves $6.5bn Al-Karaana Project, QP Rethinking Ethane Usage
...rldwide. Shell says Al-Karaana was to be operated as a stand-alone joint venture, with QP holding 80% and Shell 20% of the equity. The partners signed a heads of agreement for the project in December 2011. QP-Shell awarded the Al-Karaana FEED project to US firm Fluor in early 2013. The plan was to produce et...
Volume: 58Issue: 03Published at Fri, 16 Jan 2015