Oil & Gas
Key MENA countries rely on oil & gas for well over 50% of their revenue. For Iraq and Algeria, hydrocarbons provide over 90% of their export earnings. Whilst Saudi Arabia has a (so far largely rhetorical) National Transformation Plan, other countries have barely begun to consider how to adapt to the looming 'energy transition'.
11 Sep, 2020
Featured
Gulf Sees Rig Count Slump
Gulf drilling is at an 8-year low, down 31% since March as NOCs and IOCs slash spending. Falls range from 14% for Kuwait and 27% for Saudi to 61% for Iraq.
Saudi Arabia's Rig Count Fell To A 7-Year Low
11 Sep, 2020
Top Story
Chevron Eyes East Med Expansion
Just two months after announcing its $5bn takeover of Noble Energy, Chevron is already making plans to expand in the East Med. Phase II development of Israel’s Leviathan is top of the list, with Chevron in talks with Shell to combine with tie-back of Cyprus’ Aphrodite to Egypt’s ELNG plant.
East Mediterranean Gas Fields & Infrastructure
NEWS IN BRIEF
UAE/Bahrain/Israel In DC Deal
18 Sep, 2020
Israel OKs Chevron-Noble Deal
18 Sep, 2020
Energean Adds Israel Gas Sales
18 Sep, 2020
Egypt $15bn Petchems Plans
18 Sep, 2020
Taqa Places Moroccan Bond
18 Sep, 2020
EOG Enters Omani Upstream
18 Sep, 2020
Adnoc $1bn Sell-Off
18 Sep, 2020
Libya’s $10bn Black Hole
18 Sep, 2020
SELECTED DATA
1: Gulf* Drilling Activity Falls To Lowest Level Since 2012 With Just 258 Active Drilling Rigs For August, Down From 375 Rigs Five Months Earlier
Libya Crude Output (Mn B/D): The Oil Blockade Has Reduced Production By More Than 1mn B/D
Egypt Oil Balance ('000 B/D): Output Continues Downward Trend As Demand Collapses
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