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Lebanon’s Ailing Economy: Will The Music Stop in 2019?
...de? Wracked by political deadlock and a refugee crisis from neighboring Syria, Lebanon’s economy has sputtered along for the better part of the last decade. GDP growth has averaged a paltry 1.7% since 2011 as the country has racked up a series of bumper budget deficits. Despite slogging onward, the co...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Kuwait: Politics Is Back
...The events of November 2011 continue to overshadow politics in Kuwait to this day. Hundreds of protestors stormed the National Assembly building on 16 November 2011 over alleged corruption among parliamentarians. These events forced the resignation of prime minister Nasser al-Muhammad al-Sa...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Libya’s NOC Forced To Shut In Key El Sharara Field
...vel given the seemingly unending instability rocking the country since the overthrow of Muammar Gaddafi in 2011. With national output at five-year high levels, El Sharara operator Repsol as of early November, was eying a Q4 rebound from the Q3 average of 280,000 b/d (MEES, 9 November), which was do...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Qatar: New 2.5GW Plant Powers Economic Growth
...w been overtaken by Australia (see p16). Qatar’s hosting of the 2012 Cop-18 climate talks was widely ridiculed given that the emirate has one of the highest per capita carbon footprints in the world (MEES, 5 December 2011). Hopes that Qatar’s hosting of the event would spur it on to making major im...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Libya’s Oil Storage Woes
...tput. Elsewhere, any export terminal shut-in would lead storage tanks to drink up crude to ship another day. But not in Libya. Years of fighting since the 2011 revolution have left storage infrastructure crippled (MEES, 7 September). NOC chief Mustafa Sanalla said ahead of this week’s Opec meeting th...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Qatar Shines Spotlight On OPEC Divisions As It Ends 57-Year Membership
...tween 2009 and 2011 while maintaining its Opec membership. Yes, the benefits of continued Opec membership for Qatar are limited, but this has held true for years. Why opt to leave now? Because the GCC rift has eroded Qatar’s voice within Opec and therefore the benefits that it derives from me...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Algeria Set For $5bn 2018 Trade Deficit: As Good As It Gets?
...l prices. At the start of the 2000s Algeria’s conservative budget assumptions meant the country racked up trade surpluses even when crude was $25-30/B (see chart 3). But the country posted a series of blowout budgets from 2011 as Algiers distributed largesse on the back of $100/B-plus crude in a bi...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Egypt-Israel In EMG Arbitration Settlement
...12. Already volumes had dwindled in 2010 and 2011 amid domestic gas shortages and numerous attacks on the pipeline which traverses the unstable Sinai Peninsula. In a cautionary tale for those inking current deals with Israel, the EMG deal became politically poisonous in the wake of Egypt’s February 2011...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Total Reaps Mena Rewards Despite Iran Setback
...estion is whether Total would consider taking another gamble on Iran should the politics change in the medium-term. Iran is just the latest Middle East gas setback that Total has suffered in recent years. Having recorded net 218mn cfd from Syria in 2011 through its 50% stake in the Deir Az Zour Pe...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Iran’s Oil Export Prognosis: Is The Market Too Blasé?
...5,000 b/d volumes were at their highest level since 2011 putting Spain second only to Italy among European buyers. But volumes had already fallen to 100,900 b/d for September as sanctions loomed. But, unlike number one EU buyer Italy or number four Greece, Spain neither applied for nor was granted a ‘wa...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Tunisia Struggles To Cash In On Democracy
...uted as the Arab Spring’s only success story, Tunisia has navigated a difficult path toward democracy since the overthrow of dictator Zine al-Abidine Ben Ali on 14 January 2011. But nine governments later, the country’s economic prospects look bleaker than before the Jasmine Revolution. One of the ma...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Israel: Pipeline Bottleneck Blunder Adds to Exports Headache
...19,” with “technical evaluation” and “flow reversal planning” ongoing – the route was previously used to ship Egyptian gas to Israel. But volumes halted in 2011 amid pipeline bombings, political disputes and an underlying shortage of Egyptian gas to export (MEES, 1 August 2011). Noble’s timeline lo...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Qatar Petroleum Chief Consolidates Energy Sector Grip With Cabinet Seat
...nounced a cabinet reshuffle on 4 November in which QP CEO Saad Sherida al-Kaabi was appointed Minister of State for Energy Affairs. Mr Kaabi has replaced Minister of Energy and Industry Muhammad al-Sada who had held the post since January 2011 (MEES, 24 January 2011). As minister, he will have “overall re...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Egypt Confident It ‘Has The Keys To The Future’ Of East Med Gas
...orage depots, and terminals as well as pipelines,” Mr Molla says. Of course, this has also been true in the intervening years since Israel discovered the 22tcf Leviathan field in 2010 and Cyprus the 4.2tcf Aphrodite in 2011. So what’s changed? For one thing, the discovery of the 21.5tcf Zohr field of...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
MEES Interview With Egypt’s Minister of Petroleum
...dependence earlier this year. What have been the driving forces? A: The petroleum sector faced several challenges in recent years stemming from the political and economic situation in Egypt between the two revolutions of January 2011 and June 2013. Investments in the petroleum industry fell, there was di...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Eni Grows North African Presence
...d of this year and “restart exploration activities” next year (MEES, 12 October). Eni is Libya’s top producer, with net 1.62bn cfd of gas and 87,000 b/d of oil output in 2017. It managed to continue production in Libya throughout the 2011 revolution, albeit offshore....
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Suez Canal Trade Hits Records But Trade War Threatens
...%) and 543,000 b/d gasoline (up 36%) head north through the canal (see charts 1 & 2). This puts both on track to smash annual records – for diesel last year’s 445,000 b/d was a record; for gasoline the record of 499,000 b/d dates back to 2011. Combined northbound products volumes, which only fi...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Schlumberger Iraq Award
...lls the following year along with Halliburton who also won a 15 well contract in 2011. Both firms work on multiple fields in the oil rich Basra region....
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Qatar Petroleum To Replace Oxy At Key Offshore Field
...da as energy minister and QP chairman in 2011 (MEES, 21 February 2011) and has accelerated since Mr Kaabi’s appointment in September 2014 (MEES, 19 September 2014). When Total’s PSA for the 25,000 b/d Al-Khalij expired in 2014 the structure was replaced with a joint venture agreement (QP 60%, To...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Syria: Gas Output At 75% Pre-War Levels, Oil Recovery Lags
...ll. In this way, the country’s modest yet domestically important oil and gas sector is increasingly crucial to Syria’s political landscape. Before 2011’s descent into chaos, hydrocarbons were a cornerstone of the Syrian economy. Oil production, though steadily on the decline from a record 61...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018