Saudi Arabia - joining the dots: Part 4 - The price wars, defending market share

Saudi Arabia - joining the dots is a series of blog entries exploring Saudi Arabia's role in the oil markets with a brief look at the history of the royal family and politics that dictate and influence the Kingdom's oil policy. Part 4 - The price wars, defending market share The sudden fall in the oil price in the middle of 2014 and the subsequent lack of response by OPEC is a stark reminder of its members' policy of defending market share,...

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Saudi Arabia - joining the dots: Part 3 - The reshuffling has begun

Saudi Arabia - joining the dots is a series of blog entries exploring Saudi Arabia's role in the oil markets with a brief look at the history of the royal family and politics that dictate and influence the Kingdom's oil policy. Part 3 - The reshuffling has begun Ali al-Niami's job remains safe...for now In a further move which signals King Salman's tightening grip over the Kingdom's affairs since coming to power,  Salman promoted...

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Natuna Sea Block A PSC ("NSBA")

KUFPEC (33.33%), PMO (28.67%*), Petronas (15%), Pertamina (11.5%), PTTEP (11.5%) Pertamina and PTTEP acquired their stakes as part of Hess' Indonesian portfolio NSBA supplies gas to SembGas in Singapore, together with South Natuna Sea Block B and Kakap, as part of a GSA signed in 1999 for a period of 22 years In 2008, PMO signed two additional GSAs to supply NSBA gas for power generation in Batam, Indonesia Due to delay in constructing the pipeline to Batam, a swap agreement has been signed for the Batam earmarked gas to be supplied to Singapore...

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Aasta Hansteen Area

Located in Norwegian Sea; Aasta Hansteen discovered in 1997 but remained undeveloped due to the remoteness Area includes Snefrid Sør and Haklang, both discovered in 2008 Statoil (75%*), OMV (15%), COP (10%) Area thought to contain >2.4 GIIP, estimated recoery c.66% PDO submitted in January 2013 and received approval in April 2013 Development will utilise subsea wells tied back to SPAR platform Power supply expected to be generated on platform due to high cost and difficulty of supplying electricity from shore (distance) First...

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Saudi Arabia - joining the dots: Part 2 - Scandal

Saudi Arabia - joining the dots is a series of blog entries exploring Saudi Arabia's role in the oil markets with a brief look at the history of the royal family and politics that dictate and influence the Kingdom's oil policy. Part 2 - Scandal In 2006, the then King Abdullah created the Allegiance Council in 2006 to help select future rulers. In March 2014, Prince Muqrin was appointed by Abdullah to be the next in line after Salman, placing...

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