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Egypt LNG Imports Hit 7-Year High 2.78mn T For 2024, Eyes Tentative Exports For 2025
...Egypt resumed LNG imports last year after a six-year hiatus, with volumes of 2.78mn tons the highest since 2017 after a late-year surge. Cairo eyes the resumption of exports later this year, but this is far from guaranteed. Egypt’s slumping gas output and rising demand saw the country dr...
Volume: 68Issue: 02Published at Fri, 10 Jan 2025 -
Kufpec Eyes Portfolio Optimization After Exiting Norway & China
...cord 107,000 boe/d set in 2019 (see chart). Kufpec had previously aimed to reach 200,000 boe/d by 2020, but ultimately fell well short of this goal (MEES, 8 September 2017). NORWAY CLOSURE Kufpec’s foray into Norway began in 2013 with the purchase of Norske AEDC, the Norwegian su...
Volume: 67Issue: 02Published at Fri, 12 Jan 2024 -
Iraq’s Oil Revenues Down 15% From 2022’s Record
...e country dropping by 105,000 b/d to 911,000 b/d according to data intelligence firm Kpler (see chart 2). This is the lowest annual figure since 2017’s 845,000 b/d. Exports to India dipped to 741,000 b/d in June 2023, some 530,000 b/d below their March 2022 peak of 1.27mn b/d. Volumes however re...
Volume: 67Issue: 02Published at Fri, 12 Jan 2024 -
Record-Breaking Oman LNG Signs New Sales Deals
...G sector over the past seven years has been remarkable. Exports bottomed out in 2015 at just 7.91mn tons amid a narrative of decline as rising domestic demand from the power generation sector crimped feedstock availability. The September 2017 start-up of the 1bn cfd Khazzan tight gas development co...
Volume: 66Issue: 02Published at Fri, 13 Jan 2023 -
Opec Solidifies Gains In 2022 As Saudi Sets Output Record
...pacity dropped from 3.15mn b/d in 2017/18 to 2.63mn b/d in 2020/21 according to the latest KOC figures (MEES, 22 October 2021). Kuwait also suffered from the full shut-in of the Partitioned Neutral Zone (PNZ), from where oil output is split with Saudi Arabia, between May 2015 and February 2020 (ME...
Volume: 66Issue: 02Published at Fri, 13 Jan 2023 -
Saudi Crude Exports Rise To Five-Year High In 2022
...10.57mn b/d for 2022 (see p7) drove an 800,000 b/d year-on-year increase in the kingdom’s crude oil exports. Figures from data intelligence firm Kpler show that crude exports (excluding Saudi Arabia’s 50% share from the Partitioned Neutral Zone) exceeded 7mn b/d last year for the first time since 2017...
Volume: 66Issue: 02Published at Fri, 13 Jan 2023 -
Can Iraq Use Gulf Football Tournament To Score GCC Investment Hike?
...fice. Saudi Arabia’s newfound willingness to deal with its northern neighbor then became more apparent from 2017 (MEES, 27 October 2017). The appointment of Mr Maliki’s close-ally, new Prime Minister Mohammed al-Sudani, has been met with initial wariness from Riyadh (MEES, 18 November 2022), with hi...
Volume: 66Issue: 02Published at Fri, 13 Jan 2023 -
Qatar Takes FID On Huge Petrochemicals Complex
...CUS Qatar first announced plans for this major new petrochemicals venture in 2017, with Mr Kaabi telling MEES in an interview that it was planning a “world-scale” facility to process ethane from its mammoth North Field gas expansion project (MEES, 8 December 2017). This was a major development given th...
Volume: 66Issue: 02Published at Fri, 13 Jan 2023 -
Egypt Extends Deadline On Key Offshore Block
...der-performance – the WND Phase-1 Libra and Taurus fields which came online in 2017 are no longer producing while Phase-2 Giza and Fayoum have dwindled to 250mn cfd – has left substantial ullage at the pipelines and onshore processing facilities. These processing facilities near Idku adjoin those us...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
Qatar Holds Off US To Remain Global No.2 LNG Exporter
...rgest LNG market, emerged as Qatar’s largest buyer in 2021 (see chart 2), with Qatar shipping 11.46mn tons there according to Kpler. Korea had been the largest market for Qatar since 2017, but when its demand cratered in 2020 during the height of the Covid-19 pandemic, the East Asian country was ov...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
South Korea Crude Imports: Mideast Volumes Slump To 25-Year Low For 2021
...ddle East suppliers. From a market share of over 80% to 2017, Gulf countries’ share fell to 69% for 2020 (MEES, 15 January 2021) and slumped again to a record low 60% for 2021. In absolute terms the 1.576mn b/d that Korea imported from the Gulf last year was the lowest since 1996 (see ch...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
Taiwan: 2021 Sees Mideast Imports Rebound From 2020’s Record Lows
...are a six-year high. Saudi Arabia supplied 282,500 b/d, up 38% year-on-year for the highest quarterly figure since Q1 2020, whilst number two Kuwait was up 66% at 202,500 b/d for the highest quarterly figure since 2017. *In contrast, whilst the USA retained number three spot for Q4, volumes of 10...
Volume: 65Issue: 02Published at Fri, 14 Jan 2022 -
Chevron And Energean Face Off For Israel Acreage
...7tcf Athena prospect. If substantial gas is discovered, Energean says it will prioritize development ahead of Tanin which lies further away from the planned Energean Power FPSO. MEES understands Energean is set to relinquish Block 22 offshore Israel, which it was awarded along with Block 12 in 2017...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Korea, Taiwan 2020 Crude Imports: Volumes Down, Mideast Down Further
...nual figure since 2011, with Q3’s 284,000 b/d the lowest quarterly figure since 2010. Number three Iraq saw volumes fall 34% to a six-year low 220,000 b/d, whilst number four the UAE saw a 15% fall to 206,000 b/d. *As recently as 2017, Iran was Korea’s number three supplier (behind Kuwait). Bu...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Iraq Baiji Refinery Sees Restart Of Second CDU
...th Mosul and other parts of northern Iraq liberated from the Islamic State in 2017, demand for electricity (powered by fuel oil) and transport fuels has skyrocketed, leading to significant shortages. Furthermore, the 140,000 b/d additions from the two restored Baiji units help Iraq keep its costly im...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Qatar Keeps Crown As Largest LNG Exporter For 2020
...ven that Qatar is working to expand capacity to 126mn t/y by 2027 and expects first gas from its new trains in 2025 (MEES, 10 April 2020). Qatar’s continued presence at the top in recent years came despite the Saudi-led economic embargo of Qatar from June 2017. That embargo was finally lifted last we...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Qatar Inks Major LNG Contract With Kuwait
...awater were rejuvenated in the first half of 2019 (MEES, 10 May 2019). However, the projects have again been cancelled, with Kuwait Authority for Partnership Projects (KAPP) telling MEES it hopes they will be retendered soon. KUWAIT LNG IMPORTS (MN T/Y) HAVE DIPPED FROM THEIR 2017 HIGH, WHILE QATAR'S MA...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Global LNG: China Challenges Japan As Top Importer
...certainties suggests that Japan is likely to retain top spot for 2020 at least. *China’s 2019 gains are well down on 2018’s whopping 40%. Indeed, the key winter for the coal-to-gas heating switch was 2017-18. Year-on-year gains in LNG imports peaked at 59% in Q1 2018 and have fallen in every quarter si...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Gulf States Call For De-Escalation Of Regional Tensions
...ES, 8 December 2017). Saudi Arabia’s deputy minister of defence Khalid bin Salman – brother of de facto leader Muhammad bin Salman – wrote on Twitter on 8 January that “the Kingdom and its leadership always stand with brotherly Iraq and its dear people,” adding that Saudi Arabia “will do everything in...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Egypt: BP’s Raven Delayed
...re brought online in March 2017 but saw output rapidly decline, falling from 640mn cfd for 2017 to 380mn cfd for 2018 (MEES, 15 March 2019). BP hopes overall WND plateau output will reach 1.4bn cfd once all three phases are brought online. This equates to 22% of Egypt’s current 6.3bn cfd gas ou...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020