- Sort by:
- Score
- Published ▼
-
Adnoc Adds To Gulf LNG Bunkering Plans With Inpex Tie-Up
...thorities have previously considered adding LNG bunkering to their capabilities (MEES, 4 July 2014). As a major established hub, it makes sense to add a new string to Fujairah’s bow with LNG bunkering rather than seek to create an alternative location. Fujairah currently receives gas from Qatar via the Do...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Eni Grows North African Presence
...natrach CEO Abdelmoumen Ould Kaddour, Algeria has made a flurry of deals with IOCs in recent months although crippling red tape often means projects are subject to major delays. Firms are wary of this, resulting in underwhelming interest in the country’s most recent 2014 bid round which saw a meagre fo...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Services Firms: Mideast Growth Picks Up, But US Slows
...-track to have mobilized 25 rigs by the end of the year.” This is certainly a boost for the kingdom as its rig count has averaged 115 during the first nine months of 2018, the lowest since 2014. Mideast revenue gains were “partially offset by lower hydraulic fracturing activity as a major contract wa...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Upstream Costs: Can Services Firms Get Majors To Split The ‘Rent’?
...Global oilfield services firms say their margins have to rise. Majors are adamant they will keep down costs. Can the circle be squared? The collapse in oil prices from the second half of 2014 led majors to take an ax to what they acknowledge had been bloated capex budgets. From $196bn in 20...
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 -
Total Signs Up For Algeria Expansion
...ovisionally slated for 2019 will be keenly watched to see if the reforms have been enough to attract new investors. The previous bid round, from more than four years ago, was an almost-total flop (MEES, 3 October 2014). Sonatrach’s exploration model tends to consist of racking up the discoveries first and wo...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Abu Dhabi Plots $3bn Windfall From Cepsa IPO: What’s For Sale?
...SUMED DOWNWARD SLIDE AFTER BRIEF 2014 BOOST FROM SE ASIA ENTRY *WORKING INTEREST BASIS. SOURCE: CEPSA, PARTNER COMPANIES, MEES ESTIMATES AND CALCULATIONS. CEPSA NET PROFIT BY SEGMENT (€MN): REFINING REMAINS THE KEY MONEY-SPINNER... ...DESPITE UPSTREAM HAVING BEEN THE KE...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Upstream Capex Edges Up But Recovery Remains US-Focused
...vestment 2018 report remains almost 40% down on the 2014 peak (see chart). But whether this presages output shortfalls in the years to come remains to be seen: certainly majors and IOCs claim that they are now getting more bang for their buck with their collective investment emphasis having shifted from mu...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Shell Enters Mauritania
...ock C-10 (50-2000ms water depth) surrounds several former discoveries: the Chinguetti oil field, long the country’s sole producer, saw output end in late 2017; the 1.5tcf Banda wet gas field had development plans shelved by then-operator Tullow after oil prices tanked in the second half of 2014 (MEES, 13...
Volume: 61Issue: 30Published at Fri, 27 Jul 2018 -
Bahrain’s Troubled Banking Sector Set For Turbulent Times
...hrain’s banking and finance sector has faced a considerable slew of challenges – challenges that show no sign of abating. The government’s finances have been hit hard by the crash in oil prices since the end of 2014, forcing it to tap the bond markets in an effort to plug its budget deficit and le...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
China Puts Oil Center Stage Of Middle East Strategy
...rvices arm Sinopec International Petroleum Service Corp. The firm this month signed a $1.06bn five-year contract, extendable by one year, with another KPC subsidiary KOC. Sinopec’s service arm first entered Kuwait in 2008 and this latest deal effectively replaces a $1.15bn 2014 contract. The UAE wa...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018 -
Algeria: Total, Repsol Recommit But More Investment Needed
...e Algerian upstream to be attractive to IOCs, it is probably about right – Algeria spectacularly failed to attract investors in its last bid round in mid-2014 when prices were $100/B (MEES, 3 October 2014) Just four of 31 blocks were awarded. Boughezoul, in the north of the country, went to Re...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Aramco Downstream Strategy: Plastic Fantastic As Sadara Park Ramps Up
...luria to realize the value of these processes.” Siluria is part-owned by Aramco after a $30mn 2014 investment by Saudi Aramco Energy Ventures (29 August 2014)....
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
ExxonMobil’s Rapidly-Expanding Mediterranean Presence
...erica, and shale in particular, the key focus of its spending since oil prices tanked in the second half of 2014, the same year that it opted against renewing its stake in the UAE’s Adco concession. The MENA share of its oil output has fallen from 25% in 2013 (545,000 b/d, all from Abu Dhabi and Iraq) to 37...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Egypt Inches Towards Paying Off Receivables Bill
...ll in late 2014 when it halved dues to $3.1bn on the back of borrowed cash (MEES, 5 December 2014). EGPC has pledged to pay off receivables by mid-2019. VICIOUS CIRCLE EGPC can point to the sums it is owed by other ministries as a reason it has fallen so far behind with payments. As of late 20...
Volume: 61Issue: 22Published at Fri, 01 Jun 2018 -
Kuwait Energy: Could Stretched Finances Force Firm From Key Iraq Asset?
...The 2014 discovery of the 1.13bn barrel Faihaa field by Kuwait Energy was the biggest exploration success of Iraq’s post-2009 upstream opening. But plans to develop the field to 250,000 b/d by the mid-2020s are threatened by an onerous debt burden. Iraq has been the great success st...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
UK Firm Gulfsands Vies To Outlast Syria Sanctions
...erated several of the region’s fields under a 2014 understanding. GPC reportedly produced around 17,000 b/d through 2017 as well, but due to EU sanctions on the state firm, Gulfsands does not receive a cent of revenue from its crown jewel asset. That the block’s fields and infrastructure escaped the wr...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Services Firms: Margins Remain Squeezed Despite Higher Oil Prices
...Global oil services giants saw revenues slump in Q1, reversing some of last year’s rebound from their annus horribilis of 2016. The bumper years to 2014 remain ancient history: economy mode is the new normal. Earnings from the Middle East, a key source of 2015-16 resilience, are down whilst US...
Volume: 61Issue: 17Published at Fri, 27 Apr 2018 -
Global Drilling Returns To 3-Year High In 2018, Mideast Activity Strong
...llapsing in 2014 in the aftermath of the civil war, and even Egypt, which boasted the largest gas discovery in the offshore Mediterranean, the 24tcf Zohr, has seen drilling collapse. Egypt’s rig count averaged 23 in Q1 this year, the lowest since 2002, although Cairo is preparing to launch a bid round be...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Gaza Gas: Still Under Water
...t alone any revenue from any additional gas sales (MEES, 30 May 2014). But today, amidst a seemingly endless security crisis, development at Gaza Marine is a political risk that trumps a crack at a relatively modest upside. GAZA MARINE FIELD, SURROUNDING GAS INFRASTRUCTURE TALKS WI...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018