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Lebanon Creeps Toward Economic & Political Abyss
...ttle to help the low growth climate, which in fairness was partly due to the war in neighboring Syria. A whopping 77% of government spending since 2011 has gone toward three items (see chart 2): government salaries (33%), payments on the interest of the government’s now $91bn debt (32%), and su...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Jordan Bags Key US, EU Aid
...e p6). Jordan benefited from two previous MFA programs worth €380mn which began in 2011. But for lending to really have an impact, Jordan will need to focus on capital spending rather than salaries. Nine-month 2019 figures suggest Jordan is heading in the wrong direction, with its investment sp...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Libya’s NOC Clears House With Key End-Year Deals
...e tighter terms (MEES, 9 March 2009). Of course the pressure eased in 2011 when Libya had other problems, but Wintershall, now Wintershall Dea, finally agreed to sign up to them this week. Unlike Wintershall, the Waha concession will retain special contractual terms. But in order to secure part of...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Russia’s Tatneft Back In Libya For Seismic
...rced to exit in 2011 when Libya’s civil war kicked off. It returned in 2013 but had to pack its bags the following year due to civil strife. Flare-ups in violence have continued since, making it exceedingly difficult for NOC to encourage IOCs to restart exploration work. Tatneft’s return will be we...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Leviathan: The Giant Stirs
...hr’s 3.2bn cfd plateau (see box). Leviathan’s problem was never lack of gas but rather a lack of an outlet large enough to justify full commercial development. Development options considered, then sidelined, included a tie-back to an LNG plant in Israel or Cyprus (MEES, 17 January 2011), a pipeline to...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Israel Throws Spanner In Aphrodite Development
...Cyprus’ 2011 Aphrodite discovery had finally seemed to be moving forward with a development plan agreed with Nicosia in June (MEES, 7 June), but neighboring Israel says ‘not so fast’. A small portion of 4tcf Aphrodite is thought to extend into Israel’s Yishai license (see map below). Udu Ad...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Opec Output On Track For Eight-Year Low
...Opec output fell 140,000 b/d to 29.59mn b/d last month despite perennial quota-busters Iraq and Nigeria continuing to flout their commitments. For 2019 Opec output is on track to fall below 30mn b/d for the first time since 2011. After having promised Saudi Energy Minister Prince Ab...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
Oman Set For Lowest Deficit Since 2014, But Investment Lacking
...oducer to have struggled to cope. The oil revenue bonanza came at just the right time to enable Oman (among others) to hike spending from 2011 in a bid to head off ‘Arab Spring’ contagion. MEES projections, based on official 9M19 stats and typical seasonal trends, indicate that Muscat will close out th...
Volume: 62Issue: 48Published at Fri, 29 Nov 2019 -
Libya’s New Output Goals: Has NOC Any Chance Of Scoring?
...rmal in Libya since the 2011 revolution. The post-Gaddafi chaos has seen output frequently nosedive through forced shut-in of fields. IOCs have left, contractors are wary and the threat of forced shutdowns by armed groups is ever present. As a consequence, Libya’s creaking infrastructure has suffered. Da...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Algeria-Morocco-Spain Pipeline Politics
...E volumes far exceeds the 19% fall to 4.15bcm in Medgaz shipments. The 11.5bcm/y-capacity GME pipeline has long been the key conduit for Algeria-to-Spain shipments: though Medgaz shipments have increased since the second route started up in 2011 they have never surpassed GME on an annual basis. Bu...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
KRG Eyes Major Boost As Exxon/DNO Firm Up Baeshiqa Light Oil Find
...e south is the Banan field, where Oryx is currently producing from the 27°API Tertiary and the 22°API Cretaceous – neither exactly “light.” NORTHERN IRAQ: KEY OIL & GAS INFRASTRUCTURE CONTENTIOUS GEOGRAPHY The initial 2011 award of Baeshiqa to ExxonMobil and it...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Kuwait Emir’s Son Unleashes Political Upheaval
...gin the process of appointing a new government. Political upheaval is par for the course in Kuwait, but recent weeks have seen some of the most dramatic scenes since protestors stormed the National Assembly in November 2011. That event proved the undoing of Sheikh Jaber Mubarak’s predecessor, Sh...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Iran Ups Geopolitical Stakes With Nuclear Advances
...at is expected to take six years. The Bushehr-2 plant will be built by Russia’s Rosatom, under a 2014 agreement between Moscow and Iran for the construction of four new 1GW plants at Bushehr. Rosatom completed the Bushehr-1 reactor in 2011, generating electricity from fuel rods supplied by Ru...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Waha 150mn cfd Gas Output Boost
...0km pipeline to help maintain output. Waha also plans to supply coastal power plants as well as the methanol and fertilizer plants in Marsa el-Brega (MEES, 1 November). Faregh Phase-2 was initially meant to start-up a decade ago, but Cypriot contractor J&P left the project following the 2011 re...
Volume: 62Issue: 46Published at Fri, 15 Nov 2019 -
Cyprus Advances Aphrodite Development
...Cyprus issued its first ever “exploitation license” this week to the partners in the 4.2tcf Aphrodite gas field. Energy Minister Giorgos Lakkotrypis says the event is “especially important” whilst cautioning that this is just the first step in a long road before Aphrodite, discovered in 2011, ca...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Algeria’s Renewables Plans Struggle To Advance
...newables dreams. It set a 22GW 2030 renewables target in 2011 but has little to show for it. For a country with abundant sun but reliant on stretched natural gas resources for power, this is a cause for concern. It only has 410MW of solar PV (mostly localized generation in remote areas: a mere 10MW is on-gr...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Libya Set For Big Gas Boost
...With the impending start-up of the 180mn cfd Faregh Phase-2 project, Libya will have added a healthy 580mn cfd capacity by the end of 2019. Not bad for a country that has rarely seen peace since 2011. The long-delayed 180mn cfd Faregh Phase-2 gas project is finally on the verge of start-up...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Qatar Sending More LNG To Europe
...aller Asian economies and the return of Europe. Qatar has been increasingly dependent on Asian markets in recent years. Asia accounted for nearly 75% of the 76.8mn tons of Qatari LNG imported globally in 2018. This has come as volumes to Europe have cratered, nearly halving from 21.4mn tons in 2011 to...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Syria’s Oil Reserves: Trump’s Half-Baked ‘Plan’
...l.” “I still can’t believe we left Iraq without the oil,” he tweeted in 2013, adding “to the victor belongs the spoils. There was no victor, but I always said ‘take the oil.’” Syria’s relatively modest oil industry was already on the slide when war broke out in 2011, averaging 386,000 b/d in 2010 – do...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Jordan: Gas Oversupply Threatens Key Startups
...at both the energy ministry and state power company Nepco are struggling to cope with the ongoing changes – and it could see commissioning for key projects be delayed. The main issue boils down to key contracts that Jordan signed over the last several years which are no longer competitive. In 2011...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019