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Kuwait’s New Emir Criticizes Political Divisions
...so suffered a leadership vacuum of late, with the government accused by MPs of filling high-level vacancies based on loyalties rather than merit. The new Emir criticized recent pardons granted to opposition figures, including former MPs who were involved in the 2011 storming of parliament, in ad...
Volume: 66Issue: 51/52Published at Fri, 22 Dec 2023 -
Libya’s Legal Battle To Recover Billions In Overseas Assets
...termine the exact value of the country’s assets. FROZEN BILLIONS In the immediate aftermath of the 2011 popular protests and Gaddafi’s violent response, leading up to his eventual demise in October that year, the international community rushed to freeze Libyan assets that could fu...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Kuwait’s Cabinet Looks Ahead To A Troublesome 2024
...position figures, including former MPs who were involved in the 2011 storming of parliament (MEES, 5 December 2011). On 27 November, the cabinet signed-off on Emiri pardons that granted amnesty to Kuwaiti citizens who were jailed, stripped of citizenship or criminally indicted for state-security and te...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Ethiopia-Egypt Dam Agreement Remains Elusive Despite Renewed Talks
...th water conflicts, urging the three parties to “negotiate in good faith towards a mutually beneficial agreement.” The three parties have been embroiled in the dispute since Ethiopia broke ground on the $5bn project in 2011, with several mediation attempts by the US, World Bank, and the African Un...
Volume: 66Issue: 47Published at Fri, 24 Nov 2023 -
No End In Sight For Sudan’s Devastating Conflict
...utes and vast mineral resources that finance the RSF’s commercial enterprise, and thus, guarantee its survival. OIL EXPORT UNCERTAINTY When South Sudan voted for secession in 2011, Sudan lost nearly 75% of its oil output to its southern neighbor (MEES, 16 March 2018). Today, oil ex...
Volume: 66Issue: 44Published at Fri, 03 Nov 2023 -
Egyptians Wary Rushed Elections Spell Tougher Times Ahead
...ility to raise cash for repayments, with top credit agencies downgrading the outlook for Egyptian debt. The IMF expects debt to increase from 88.5% of GDP in 2022 to 92.7% this year. Meanwhile, cumulative Gulf aid to Egypt since 2011 is estimated to have exceeded $110bn. This includes the $22bn pl...
Volume: 66Issue: 43Published at Fri, 27 Oct 2023 -
Israel Halts Tamar & EMG Flows As Fight With Hamas Continues
...thering output from 2011’s 3.5tcf Aphrodite discovery (MEES, 25 January 2013), other more recent Cyprus finds, and potentially Leviathan, which lies just 30km from Aphrodite, too. Cyprus’ current Energy Minister George Papanastasiou was quick to highlight Cyprus’ attractiveness during the ‘Cyprus Ga...
Volume: 66Issue: 41Published at Fri, 13 Oct 2023 -
Libya Oil Outages Highlight Continued Instability
...vel with late-2019 as the highest monthly figure since February 2014 (see chart 3). 1: LIBYA’S CRUDE OUTPUT LEVELS HAVE BEEN HIGHLY VOLATILE SINCE THE EARLY 2011 REVOLUTION (‘000 B/D)… *AS PER OPEC ASB FOR SOME YEARS (INCLUDING 2022) THIS DOES NOT TALLY WITH NOC’S BY-CONCESSION FIGURES. NA...
Volume: 66Issue: 29Published at Fri, 21 Jul 2023 -
Sudan War Leaves South Sudan Desperate For Export ‘Plan B’
...o on 9 July 2011, the conflict has serious implications for the country. South Sudan’s economy is dangerously dependent on oil, which accounts for 90% of government revenues according to the IMF. This is exported to global markets via a 1,600km, 250,000 b/d capacity pipeline to the Bashayer export te...
Volume: 66Issue: 28Published at Fri, 14 Jul 2023 -
Eni, Cyprus Talk Recent Gas Finds, EastMed Pipeline
...y case these comments will have alerted US major Chevron which is finally progressing development of Cyprus’ first gas discovery, 2011’s 4.5tcf Aphrodite, where FID is potentially planned for 2025 (see p5). GROWING FOOTPRINT In addition to its dominant position offshore Egypt, Eni in to...
Volume: 66Issue: 26Published at Fri, 30 Jun 2023 -
Kuwait: Another Cabinet, Another New Oil Minister
...med had been a political outcast since 2011 when he was forced to resign under the threat of parliamentary questioning over allegations of corruption in contracts worth $900mn. This, amongst other factors, led to the whole cabinet resigning (MEES, 5 December 2011). Sheikh Ahmed had been involved in...
Volume: 66Issue: 25Published at Fri, 23 Jun 2023 -
BP & Adnoc’s Landmark NewMed Deal: Testing the Water or Troubled Waters?
...e operated by US major Chevron. While Leviathan goes from strength to strength with plans to expand capacity from 1.2bn cfd to 2.1bn cfd set to be finalized by end-2023 and FLNG a leading option, Aphrodite has remained undeveloped since its 2011 discovery. That could change with Chevron (35%op), Sh...
Volume: 66Issue: 23Published at Fri, 09 Jun 2023 -
Israel-Egypt Energy Ties Deepen As 2022 Sees Record Gas Flows
...tacks in the Sinai, though growing gas shortages in Egypt were the underlying reason, as well as changing political currents in Egypt following the 2011 ouster of President Mubarak (MEES, 30 April 2012). Sameh Fahmy, the minister who inked the deal with Israel, was thrown in jail post-Revolution, al...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Egypt Gas Output Slumps For Q4, Consumption Down More For 12-Year High LNG Exports
...s the lowest December figure since 2015. Add in the record Q4 imports of 709mn cfd from Israel and Egypt was able to export a bumper 1.62bn cfd of gas for Q4, the highest figure in Jodi data stretching back to the start of 2011. Of this, 1.56bn cfd was exported as LNG and 53mn cfd to Jordan. Fi...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023