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New Year's resolution, OPEC-style: MENA upstream month in brief


New Year's resolution, OPEC-style: MENA upstream month in brief

Report summary

OPEC agreed to cut production by 1.2 million b/d which represents a major policy shift. This means a production cut of 4.5% for most, but not all, members. Under the deal, Iranian production is likely to increase. Total signs MoU to develop South Pars Phase 11 in Iran, potentially the first deal with a foreign major under an IPC. The agreement reflects confidence the nuclear deal will survive Donald Trump’s election to the White House. The Egyptian government floated its currency and cut subsidies on fuel and gas to secure a US$12 billion loan from the IMF. Eni sold 10% of the Zohr gas field to BP for a total US$525 million. The Israel licence round was launched for 24 deepwater blocks.

What's included?

This report includes 2 file(s)

  • New Year's resolution, OPEC-style: MENA upstream month in brief PDF - 280.20 KB 4 Pages, 0 Tables, 0 Figures
  • MENA December 2016 Data Dashboard.pdf PDF - 161.96 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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