Saturday, May 6, 2017

Dangerous times in the Aegean and Cyprus - KATHIMERINI

06.05.2017 : 17:01
Alexis Papachelas

The concept of gray zones (the claim that the sovereignty of a number of islands and islets in the Aegean is undetermined) was a novel idea that Turkey came up with 20 years ago.

At some point, Ankara reached the point of including the Greek island of Gavdos in its gray zones list.

Whenever Athens made an official request regarding the islands or rocky outcrops that Turkey had on its list, the answer was always very vague: “Anything that is not clearly included the bilateral agreements that set out Greece’s borders with other countries.”

At first, many people thought this was a bargaining chip that Ankara would trade as part of a grand bargain. They were wrong.

Iraqi crude oil to arrive in Egypt within 2 weeks - EGYPT INDEPENDENT / AL MASRY - AL YOUM

Sat, 06/05/2017 - 12:08

An official source with the Ministry of Petroleum said that the Iraqi shipment of Basra crude oil, which began shipping operations in Iraqi ports on Thursday, will arrive in Egypt within two weeks.

The source added, in statements to Al-Masry Al-Youm, that the Iraqi side stressed that the shipments which will arrive at the port of Ain Sukhna amount to about 2 million barrels during this period.

The high-level source added that the agreement with Iraq was not a substitute for the agreement with Saudi Aramco, which resumed shipments of petroleum products to Egypt last month, after it had been suspended during the last period.

Friday, May 5, 2017

South Disouq Deep Well Result - SDX ENERGY

5 May, 2017 SDX ENERGY INC. 

Completion of drilling campaign at successful SD-1X well SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, announces that drilling on the SD-1X well at its South Disouq concession in the Nile Delta area of Egypt has now reached its second target depth. 

Following the significant natural gas discovery in the upper Abu-Madi section, where the well encountered 65 ft. of net pay section with an average porosity of 25%, drilling continued with the SD-1X well which was subsequently targeting oil from the deeper Cretaceous horizons. 

Thursday, May 4, 2017

Alexey Miller informs Vladimir Putin of readiness to start laying offshore section of TurkStream gas pipeline - GAZPROM

Vladimir Putin and Alexey Miller. Photo by www.kremlin.ru
May 4, 2017, 21:00

A working meeting took place today between Vladimir Putin, President of the Russian Federation, and Alexey Miller, Chairman of the Gazprom Management Committee.

The meeting explored, among other things, Gazprom’s efforts to expand its resource base, including within the Tambey group of fields in the Yamal Peninsula.

Alexey Miller informed Vladimir Putin of the continuing growth in Russian gas supplies to Europe and the readiness to start laying the offshore section of the TurkStream gas pipeline within a few days.

TAP pipeline reports progress through Greece - NEW EUROPE

17:43 MAY 4, 2017
New Europe Online/KG


Security is the project’s absolute priority, TAP says

The Trans Adriatic Pipeline (TAP) on May 4 informed the Embassies located in Greece about the progress of the project, highlighting security as the project’s absolute priority.

The approximately 878 kilometre long TAP pipeline will connect with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek border at Kipoi, cross Greece and Albania and the Adriatic Sea, before coming ashore in Southern Italy.

TAP’s Country Manager for Greece Rikard Scoufias focused on how TAP is being implemented in Greece with respect to local communities, as demonstrated in the engagement and consultation process followed; the extensive communication campaigns launched; the social and environmental investments programme drafted and implemented; and the benefits TAP brings to Greece – both present and future ones, TAP said in a press release.

Stability In Libya To Start An Oil Race - OILPRICE.com

May 04, 2017, 1:52 PM CDT
By Cyril Widdershoven

Libya’s ongoing civil war, which has resulted in a hothouse environment for extremists, Da’esh supporters and regional coalitions, could be heading to a slowdown in activity. Arab media sources claim that the two main adversaries, Libyan general Khalifa Haftar, currently ruling the east of the country via the Libyan national army (LNA), and UN-backed Fayez Al Serraj, Head of the Presidential Council, have reached an initial agreement to cooperate. During a meeting in Abu Dhabi, both parties seem to have agreed to form communication channels between the PC and the Operation Dignity (which was described by Haftar as the Libyan national army). At the same time, Al Serraj en Haftar has agreed that the general will be nominated for president of Libya in March 2018. Such an agreement would be a major success, not only for the two Libyan factions but especially for the main power brokers, Egypt and the UAE. The next weeks will be crucial for a successful implementation, as there is already opposition to the deal. Colonel Mahmoud Al Zagal, who is the commander of the Libyan National Guard (LNG) in Tripoli, openly has refuted the option that Haftar is in the picture.

73 MW extension for gas-fired power plant in Turkey - POWER ENGINEERING INTERNATIONAL

05/04/2017
Diarmaid Williams

Finnish technology group Wärtsilä will supply 73 MW capacity equipment for an extension to a power plant owned by Yesilyurt Enerji Elektrik Uretim A.S, an Independent Power Producer (IPP) in Turkey.

The equipment will be delivered during the coming months, and the extended power plant is scheduled to be operational by December 2017. Wärtsilä's scope is the equipment supply. The order is booked in the first quarter of 2017.

Wednesday, May 3, 2017

Egypt devaluation nearly doubles fuel subsidy bill to 78 bln pounds in first nine months - REUTERS AFRICA

Wed May 3, 2017 8:12am GMTReporting by Abdel Rahman Adel,; Writing by Lin Noueihed; Editing by Giles Elgood

CAIRO May 3 (Reuters) - Egypt's government spent 78 billion Egyptian pounds ($4.32 billion) on fuel subsidies in the first nine months of the 2016-17 fiscal year, up from 41 billion in the same period of the previous year, Oil Minister Tarek al-Molla told Reuters.

The cost of fuel imports has soared since Egypt floated its pound currency in November, allowing it to halve in value against the dollar within weeks.

Egypt plans to gradually reduce fuel and power subsidies as part of reforms aimed at slashing the budget deficit.

Tuesday, May 2, 2017

Noble Firing On All Cylinders With Balanced Portfolio - FORBES

(Photo by Kobi Gideon/GPO via Getty Images)
MAY 2, 2017 @ 11:38 AM 828 
Claire Poole

Noble CEO David Stover met with Prime Minister Benjamin Netanyahu earlier this year about the company's developments off the coast of Israel, where it's exporting natural gas to Jordan for the first time.

Noble Energy Inc. seems to be firing on all cylinders.

The Houston oil and gas explorer reported solid first quarter financial results, beating analysts' expectations for earnings, revenues and production. Its wells in the Delaware Basin in West Texas and the Denver-Julesburg Basin in the Rockies are outperforming expectations and targets and it began exporting natural gas from Israel to Jordan for the first time. The company also is continuing to improve its portfolio, selling natural gas properties in Appalachia's Marcellus Shale to an unnamed buyer for $1.2 billion, which will help it pay down debt incurred after its $2.7 billion purchase of Clayton Williams Energy Inc.

Greece agrees to sell coal-fired plants, mines - govt source - REUTERS

Tue May 2, 2017 7:07am GMTReporting by Angeliki Koutantou Editing by Jeremy Gaunt

ATHENS May 2 (Reuters) - Greece agreed with its lenders to sell coal-fired plants and coal mines equal to about 40 percent of its dominant power utility Public Power Corp's capacity, a government source said on Tuesday.

The agreement is part of a reform deal Greece and its foreign creditors reached early on Tuesday, paving the way for the disbursement of further rescue funds under the country's third international bailout.

Natural gas surplus by 2020: El Molla - DAILY NEWS EGYPT

2 May 2017
Mohamed Adel


Sector will sign five new deals with investments of $154m

The petroleum sector has achieved numerous developments during the current period in natural gas production. Egypt’s total production of gas reached 5 billion cubic feet per day, following a number of new discoveries. Minister of Petroleum and Mineral Wealth Tarek El Molla explains the developments in an interview with Daily News Egypt.

Is the ministry set to sign new petroleum agreements in the coming period?
The Ministry of Petroleum plans to sign five new oil agreements between foreign partners and the Egyptian General Petroleum Corporation (EGPC) to search for oil and gas in Egypt’s Western Desert, with minimum investments of $154m and signing grants worth $63.2m to drill 30 wells.

Research and survey vessel Ramform Hyperion docks in Cyprus - FAMAGUSTA GAZETTE / CYPRUS NEWS AGENCY

Tuesday, 02 May, 2017

Research and survey vessel Ramform Hyperion has docked at Limassol port, on Cyprus` southern coast, to carry out seismic research in the Republic`s exclusive economic zone (EEZ).

The vessel arrived from the Mitsubishi shipyard, in Nagasaki in Japan, after she had carried out all the necessary tests in Singapore. She is expected to carry out three-dimensional seismic research and surveys until mid August this year.

The Republic of Cyprus has issued a navigational warning (Navtex) with the precise coordinates within which Ramform Hyperion will operate and called on all vessels to be vigilant within a distance of 10 nautical miles from the Ramform Hyperion.

On the horizon - ENTERPRISE

Tuesday, 2 May 2017

Egypt expects to receive its first 2 mn bbl shipment of crude oil from Iraq on 12 May, Oil Minister Tarek El Molla tells Youm7

According to the minister, the one-year agreement will see Iraq sending 2 mn bbl every second month for a total of 12 mn bbl.

Sunday, April 30, 2017

Swiss court obliges Egypt to pay $2 bln to Israel over suspension of gas exports - EGYPT INDEPENDENT / AL MASRY AL YOUM

Sun, 30/04/2017 - 13:27
Taha Sakr

A Swiss court ordered Egypt to pay $2 billion on Friday to a state-run Israeli electricity company as compensation for suspended gas shipments due to frequent attacks on pipelines in the Sinai Peninsula which deliver gas from Egypt to Israel.

According to a message from the Israeli firm to Bloomberg news agency, both the state-run Egyptian General Authority for Oil and the Egyptian Natural Gas Holding Company (EGAS) were assigned to pay the fine.

"Both companies should bear the responsibility for damages caused due to frequent attacks on pipelines that pass through the Sinai to Israel," the electricity company's message read.

Turkey getting to grips with energy puzzle - IN CYPRUS / CYPRUS WEEKLY

April 30, 2017
Dr Charles Ellinas

Energy supply security concerns led Turkey to revise its policy by reducing the share of imported gas and increasing the share of domestically- produced energy resources in the energy mix, mainly hydropower, coal, lignite, wind and solar energy, particularly in the power generation sector.
This was also the subject of a recent report by the Oxford Institute of Energy Studies. Given that Turkey is considered to be a potentially important market for East Med gas, I review the findings of the report and assess the impact on our region.

Libya's Oil Output Rebounds as Sharara, El Feel Fields Restarted - BLOOMBERG

30 April 2017, 1:51pm EEST
Salma El Wardany
  • OPEC member pumping more than 700,000 barrels a day: Alaokali
  • Biggest field Sharara at 216,400 barrels daily after restart
Libya’s crude production rebounded to more than 700,000 barrels a day as the OPEC member’s biggest oil field and another deposit in its western region resumed pumping after a halt.

The Sharara field is currently producing 216,400 barrels a day, while the El Feel, or Elephant, deposit is pumping 26,500 and is expected to boost output further, Jadalla Alaokali, a board member at the National Oil Corp., said Sunday by phone. Crude from Sharara started flowing to the Zawiya refinery after the port of Zawiya re-opened last week following a three-week closure. El Feel, idled since April 2015, also restarted last week.

Egyptian Energy Companies Told to Compensate Israel Over Halted Gas Supply - HAARETZ / REUTERS

Reuters Apr 30, 2017 8:59 AM

Egypt sold gas to Israel under a 20-year agreement that collapsed in 2012 after months of repeated attacks by insurgents on a Sinai pipeline (Ampal Pipeline)

A Swiss court has rejected an appeal by Egyptian energy companies after a French court last year ordered them to pay $2 billion in compensation to state-owned Israel Electric Corporation, the Israeli utility said.

An IEC statement on Friday said that Egyptian Natural Gas and Egyptian General Petroleum Corporation were liable because they were unable to fulfill their commitment to provide it with natural gas for its power stations.

The Egyptian petroleum ministry was not immediately available for comment.

Total to begin drilling at North Mahalla concession beginning of May - ENTERPRISE / AL SHOROUK / AHRAM GATE

Sunday, 30 April 2017

Total is set to start drilling the first exploration well in the North Mahalla onshore concession in the beginning of May, Al Shorouk reports, citing an unnamed EGAS official. According to the official, seismic scans of the concession indicate reserves of 3-5 tn cubic feet of natural gas. This comes as the Oil Ministry is targeting bringing 2.5 bcf/d of gas online in the coming months, Oil Minister Tarek El Molla says, Ahram Gate reports. The excess will go to fulfilling export contracts signed pre-2011 and to petrochemical manufacturing. No new export contracts will be signed, El Molla said.