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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 -
Tunisia & Libya Offer Up Border Discovery & Exploration Block In Bidding
...llowed up with a second successful well, Zarat-2, whilst 2011’s Zarat North-1 confirmed the extension of Zarat onto the Joint Oil block (MEES, 9 April 2012). The wells demonstrated a condensate-to-gas ratio of 85 barrels per million cubic feet of gas with medium case (2C) recoverable reserves pegged at...
Volume: 66Issue: 50Published at Fri, 15 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 -
Libya Oil Output Boost
...Libya’s state-owned Sirte Oil company says its output has hit 93,500 b/d with the Raguba field producing at 13,300 b/d, the highest level since 2011. This comes as Libya’s self-reported output hit 1.206mn b/d for November, the highest since Tripoli began ‘direct reporting’ of figures to th...
Volume: 66Issue: 50Published at Fri, 15 Dec 2023 -
Iran Plans Major Gas Storage Expansion To Face Winter Shortages
...feeding stranded provinces to become a strategic energy balancing tool. According to the report, the difference between summer and winter demand peaks jumped from 180mn m3/d (6.36bn cfd) in 2011/12 to 221mn m3/d (13bn cfd) in 2021/22. Moreover, steady growth means that consumption in summer is no...
Volume: 66Issue: 49Published at Fri, 08 Dec 2023 -
Libya Exploration Picks Up Steam As NOC Reiterates Ambitions
...Libya is persuading more and more of IOCs to return to exploration. The country’s rig count hit 18 for October, the highest level since the 2011 revolution (see chart). And recent weeks have seen a flurry of announcements from NOC that foreign oil and gas firms are planning on resuming dr...
Volume: 66Issue: 48Published at Fri, 01 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 -
ExxonMobil Finalizes West Qurna-1 Exit As PetroChina Assumes Operatorship
...edged to increase capacity to 800,000 b/d by 2028. Exxon’s time in Iraq has been tumultuous, with the firm angering Baghdad when it signed up to six blocks in the Kurdistan Region in 2011. That gamble ultimately failed, with Exxon quitting its last Kurdistan asset in 2022 without producing a ba...
Volume: 66Issue: 46Published at Fri, 17 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 -
Iran Eyes Imminent Petrochemicals Boost
...d is PGPIC’s only methanol project under construction, with locally manufactured “super heaters” installed in June. Hengam is set to produce 726,000 t/y of ammonia and 1.155mn t/y of urea and has been under construction since 2011 – 12 years and counting. The project suffered a setback when Sa...
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 -
Qatar Breaks Ground On Historic LNG Expansion Project
...mn t/y ceremony. Preparing to host the tournament was arguably the government’s key economic focus between 2011 and last year, and that focus has now shifted to the North Field Development. The North Field’s gas and NGLs (including condensate) alone routinely account for around 60% of Qatar’s total ex...
Volume: 66Issue: 40Published at Fri, 06 Oct 2023 -
Libya Gas Exports Slump To 12-Year Low As Domestic Use* Rises
...LIBYA'S 2023 GAS EXPORTS^ ARE RIVALLING 2022 FOR THE LOWEST FIGURE SINCE THE 2011 REVOLUTION... ...WITH VOLUMES FOR Q3 2023 FALLING WELL BELOW EVEN 2022 LEVELS (MN CFD) *NOC DATA IMPLY THAT CONSUMPTION HAS AVERAGED JUST OVER 1BN CFD SO FAR THIS YEAR, UP FROM 902MN CFD FO...
Volume: 66Issue: 40Published at Fri, 06 Oct 2023 -
Saudi Aramco Starts Marketing Crude For Bahrain
...mand began to exit its Covid-induced slump (see p15 for full data). Indeed, excluding 2020 and 2021’s ‘Covid’ nadir, Saudi crude output, which fell again to 8.97mn b/d for August according to MEES estimates (MEES, 8 September), is running at the lowest level since early 2011, whilst crude exports of...
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 -
Algeria: Key Southwest Gas Field Start-Ups Boost Exports To 7-Year High
...liant on gas for 99% of power generation. The gains in pipeline deliveries to key market Italy are more striking still, with 8M 2023 volumes of 15.47bcm (2.25bn cfd) the highest since 2011. And after April’s 11-year monthly high of 2.96mn cfd (MEES, 5 May), June, July and August were all the hi...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Cyprus’ Aphrodite: Development Talks Continue Amid Reserves Downgrade
...rnerstone of their energy strategy,” a MEES source says. Trouble has been brewing for some time between Nicosia and Chevron, which only entered the project in late 2020 after its takeover of compatriot Noble Energy, which discovered Aphrodite in 2011. Understandably the US major believed it could im...
Volume: 66Issue: 36Published at Fri, 08 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