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Wintershall Libya Now SOO
...oduction has been shut in since January. Output from the ‘Wintershall’ acreage was around 100,000 b/d prior to Libya’s 2011 revolution but has rarely topped 50,000 b/d since. Overall Libyan production has rebounded strongly since key export terminals were reopened last month. Output had risen to 68...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Chevron Completes Noble Deal
...mar which started up in 2013. It also assumes operatorship of Cyprus’ 4tcf 2011 Aphrodite discovery (see map, p8). Development of the two giant Israeli fields has been constrained by a lack of sales outlets. But Chevron is looking to get the ball rolling on Phase-2 Leviathan expansion which would li...
Volume: 63Issue: 41Published at Fri, 09 Oct 2020 -
Syria Gas Pipeline Blast
...a Jordan until 2011. The route is now used (in part) to supply Israeli gas to Jordan in the opposite direction (MEES, 1 November 2019). Syria’s gas sector has played a crucial, if oft overlooked, role in President Bashar al-Assad’s successful war effort. The government has managed to keep most ga...
Volume: 63Issue: 35Published at Fri, 28 Aug 2020 -
Audit For Libya’s Central Banks
...estions related to the alleged squandering of Libya’s oil revenues since 2011. London-based Deloitte will carry out the audit which will “commence as soon as possible.” ...
Volume: 63Issue: 31Published at Fri, 31 Jul 2020 -
Tunisia Cuts Interest Rate, Delays Loan Payments
...In a bid to lessen the economic impact of the global coronavirus pandemic, Tunisia’s central bank on 17 March cut its key interest rate by 100 basis points to 6.75% - its first cut since 2011. The bank also said businesses would be able to defer payment of loans by six months and access new on...
Volume: 62Issue: 13Published at Fri, 20 Mar 2020 -
Egypt Refiners Hit New Highs
...tput (MEES, 24 January). Jet-kero output was a record 68,000 b/d in January, while at 173,000 b/d diesel was the highest since July 2011. Gasoline output was 98,000 b/d, down from December’s all-time high 103,000 b/d, while 87,000 b/d of naphtha was the highest monthly level since August 2017 (see ch...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
Libya’s Oil Continues Its Fall
...west since the 2011 revolution (MEES, 6 March). Mr Haftar is attempting to starve the Tripoli-based government of vital oil revenues in support of his war to take over the capital (MEES, 14 February). The blockade of five eastern oil terminals has brought production from the key Sirte basin fields do...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020 -
Libya Output Lowest Since 2011
...Libya Output Lowest Since 2011 Amid ongoing oil blockades imposed by eastern-based General Khalifa Haftar, Libya’s February crude output at 120,000 b/d came in at its lowest level since the 2011 revolution that overthrew long-time leader Muammar Gaddafi (see chart). The blockades have re...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Mubarak Dies
...Former Egyptian President Hosni Mubarak, who ruled for thirty years but was ousted during the Arab Spring in 2011, passed away on 25 February at the age of 91. Egypt’s longest-serving modern-day president, he spent the following six years between prison and military hospitals as he faced ch...
Volume: 63Issue: 09Published at Fri, 28 Feb 2020 -
Saudi Net Foreign Assets Stabilize At $500bn In 2019 But Government Reserves Fall To New Multi-Year Low Of $125bn
...RESERVES FIGURES ARE END-YEAR, OIL PRICE ANNUAL AVERAGE. *GOVERNMENT RESERVES FIGURES PRE-2012 ARE NOT DIRECTLY COMPARABLE DUE TO CHANGES IN METHODOLOGY. HOWEVER UNDER THE OLD METHODOLOGY 2011 WAS LEVEL WITH 2012. SOURCE: SAMA, MEES. ...
Volume: 63Issue: 05Published at Fri, 31 Jan 2020 -
Saudi PIF Eyes Premier League
...wcastle United for around £350mn ($454mn). Riyadh would be following in the footsteps of Qatar’s state Sports Investment which bought French football club Paris Saint-Germain in 2011 and the UAE’s Sheikh Mansour bin Zayed Al Nahyan who acquired Manchester City in 2008. PIF wouldn’t even be the first Sa...
Volume: 63Issue: 05Published at Fri, 31 Jan 2020 -
Israel Accelerates Coal To Gas Shift
...e in electricity production, with coal supplying 30% of the country’s electricity needs in 2018, from 59% in 2011, whilst gas has risen from 35% to 65% over the same period. Prior to Leviathan coming online the country’s gas needs were met by the 11tcf Tamar gas field which produces at around 1bn cf...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020