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QatarEnergy Warns Of $20bn Annual Revenue Hit
...evated. A DISASTROUS 2026 The economic impact of the Iran war far exceeds that of the 2017-2021 embargo on Qatar by its neighbors. Qatar managed to ride that out comfortably as Saudi Arabia and the UAE were unable to convince the emirate’s primary clients such as China, India and South Korea to lo...
Volume: 69Issue: 13Published at Fri, 27 Mar 2026 -
Israel’s Finance Ministry Seeks Chevron Tamar Ouster
...nin to Energean (MEES, 8 December 2017). Sources within the Tamar partnership believe the dispute will eventually be “resolved amicably” although it could drag out and could potentially impact Chevron’s decision to further invest in Israel. ISRAEL GAS EXPORTS (MN CFD): EGYPT TOOK 78% OF THE 20...
Volume: 68Issue: 13Published at Fri, 28 Mar 2025 -
Baghdad & Kurdistan IOCs Exchange Blame As Northern Export Halt Enters Second Year
...C executive asserts that in January accounting firm Deloitte, which has audited Kurdistan’s independent pipeline exports since 2017, shared “all contractual commercial terms that they [the Baghdad oil ministry] requested without violating the NDA [non-disclosure agreement] of contractual co...
Volume: 67Issue: 13Published at Fri, 29 Mar 2024 -
Pipeline Closure Brings KRG Oil Sector To Standstill
...CLINE Kurdistan’s independent oil sector had been growing increasingly ragged in recent years. The late-2014 oil price collapse dealt a fatal blow to many oil exploration and development projects, while Baghdad’s move to reclaim oil fields around Kirkuk following the KRG’s controversial 2017 in...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Oman Offers Three Blocks In New Bid Round
...: TIGHT GAS PLAY Until recently, the 1,400km2 Block 15 was operated by local firm Hydrocarbon Finder, which drilled two wells in 2017. These produced approximately 44,000 barrels during an extended well test. The firm said that its first exploration well, Ataya-1, was successfully dr...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Mauritania Exploration: Down To Four Blocks As Shell Concentrates Focus, Plans Wildcat
...analysis reiterated by the Mauritanian officials. This is perhaps not surprising given that the block surrounds the only Mauritanian oil field ever to have reached production – Chinguetti, which briefly produced 70,000 b/d following 2006 start-up before output rapidly declined and halted in 2017...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Adnoc Partners With BPFor Transformative Israel Entry
...the new vertical. From May 2017 until January 2021 Mr Kaabi served as CEO of Mubadala’s Petroleum and Petrochemicals division, which through various subsidiaries including Mubadala Energy had established a global upstream energy presence. Shortly after Mr Kaabi moved to another role within Mu...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
Algeria’s Sonatrach Halves Planned 2020 Spending
...re just $62bn, less than a third of the 2014 peak. Many in Algiers seem to have convinced themselves that oil prices in 2015 (then 2016, then 2017…) were unusually low and would revert to ‘normal’. But far from being ‘rainy days’ this period now looks like the calm before the storm. While many lo...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Gulf Capex In the Crosshairs As Majors Eye Spending Cuts
...nounced it was cutting further to just $2.7-2.9bn for 2020, a whopping 47% midpoint reduction from its original $5.2-5.4bn plan. Oxy has since 2017 reversed a previous pullback from Mena, acquiring a swathe of exploration acreage across Oman as well as Abu Dhabi’s Onshore-3 block (MEES, 6 March). Fo...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Saudi Renewables: Seconds Out For Round Three As Heavyweights Enter The Ring
...ase two and 800MW phase three, were awarded to Acwa and TSK and to Masdar and EDF, respectively. Phase two started up in 2017 while two phases with 500MW combined have been started up at phase three and the third is due online in April (MEES, 11 October 2019). The three Saudi firms in the key bi...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Oman Aims To Double Products, Petchems Exports
...ports from late next year. Since expanding its 197,000 b/d Sohar refinery in late 2017 (MEES, 23 February 2018), Oman has seen rapid growth in its exports of key refined products – diesel, jet-kerosene, gasoline and LPG – as it seeks to move up the value chain and maximize oil export revenue. Pr...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Aramco’s $69.1bn Sabic Takeover Refuels PIF Ambitions
...presents an expansion from 2017’s 14.6mn t/y capacity. The 2017 total fell to 9.9mn t/y when excluding intermediate products (MEES, 24 August 2018). As for Sabic, 2018 petchems output totaled 61.6mn t/y of which up to two-thirds are intermediate products (MEES, 22 March). Even at 20mn t/y, this would still be...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Oman Eyes $3.85bn Sri Lanka Refinery Project
...ES, 22 March). After upgrading the Sohar refinery to 197,000 b/d in 2017 (MEES, 17 February 2017), Oman is now pushing on with the $8bn Duqm refinery which will add an additional 230,000 b/d. A separate petrochemicals complex at Duqm is also slowly beginning to push forward – though construction is so...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
2018 US Crude Exports Double; New Monthly High In Jan
...e US, up more than fourfold on 2017 but still well behind China (249,000 b/d) as the US’ top Asian customer. *Korean buying from the US (and other long-haul sources such as the North Sea) has been boosted by a tax break on imports of non-Mideast cargoes in a bid to diversify the country’s import sl...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
GCC Downstream Giants Eye Revolutionary Plastics Technology
...mmercialize one of them. Sabic had patented a process to produce chemicals directly from crude using existing downstream units in a new configuration (MEES, 1 December 2017). However, Aramco took a more revolutionary route by developing new technologies. Besides squeezing more out of its resources, Aramco ch...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Egypt Solar Capacity To Soar In 2019 With Benban Boom
...ansmission line 12km east of the park. In addition, Substation-3 will also be directly linked to a 500kV overhead transmission line which runs just 500m east of the park. 2017 saw work on only one plot (5-1) of the 37.2 km2 park being built in the desert 40km north of Aswan. Egypt’s Infinity Solar says it...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Israeli-Arab Relations Under The Spotlight As Leviathan Start-Up Nears
...bassy in Amman shot and killed two Jordanians in 2017 saw Israel’s embassy close for six months (MEES, 19 January 2018). And US President Trump’s recognition of Jerusalem as Israel’s capital in late 2017 made matters even worse. Israel’s poor handling of security at Al Aqsa mosque, of which Jordan is te...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Senior UAE Official Calls For Israeli Dialogue
...iticism of “subversive Qatari politics and support for extremism and terrorist organizations” in the wake of the June 2017 GCC rift (MEES, 9 June 2017). His views on the UAE’s neighbor haven’t softened over the past two years....
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
…Keeps Israel Steady
...ficit widened from 1.9% of GDP in 2017 to 2.9% last year and Fitch forecasts it to widen even further to 3.5% of GDP in 2019 before narrowing to 3.0% in 2020. “Israel’s macroeconomic performance has been impressive and the economy remained buoyant in 2018, with real GDP growth of 3.3%, low un...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Qatar Establishing Shariah-Complaint Energy Bank
...nancing, and that this will be progressively scaled up to the targeted $10bn. The institution will provide financing to energy projects both overseas and domestically. Despite being subject to an economic embargo by neighboring states since June 2017, Qatar shows no sign of reigning in its hydrocarbon-ba...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019