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4 Pages

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


The MENA upstream month in brief covers the Middle East and North Africa upstream sectors.

It is your one-stop report for the most important events across the upstream industry in the Middle East and North Africa.

This report provides our expert opinion and analysis on the significant happenings during the month past, and looks forward to events to watch out for in the coming month.

Keep informed of events in exploration, licensing, drilling, fiscal & regulatory changes, and corporate activity.

Also included is a data dashboard, providing a snapshot of the most important data points of the past month.

  • Lead stories
  • Other stories from around the region
  • Events to watch
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