Iran Prepares To Boost Gas Exports

...an. Armenia appears on track to have imported around 400mn m³ (39mn cfd), again in line with normal levels. In terms of new export markets in 2017, Iraq is the likeliest destination. In November 2015, the two countries inked an agreement for Iran to deliver 700-1,200mn cfd of gas by pipeline to th...

CCED Ups Oman Output But 2017 Target Fades

KRG Set For Modest Oil Output Gains After Painful 2016

...IOCs in Iraqi Kurdistan are targeting modest production gains in 2017. But the KRG’s ability to pay remains problematic, while geological woes continue. Iraqi Kurdistan’s oil sector suffered a turbulent 2016 marred by attacks on export infrastructure, geological downgrades and failure to pa...

Iraq Crude Exports Hit Record High

...ntrolled pipeline to Ceyhan in Turkey have yet to be released but will likely be slightly up on November’s 54,000 b/d. As for 2017, H1 exports are set to fall from their current heights under the planned Opec production curbs. Oil Minister Jabbar al-Luaibi confirmed this week that it is currently im...

Egypt Hopes To Restart LNG Exports By 2020: Where Will The Gas Come From?

...e end of 2017 according to local daily Al-Borsa. This comes after state-oil firm EGPC was forced to pay some $480mn towards the bill, costs that were originally to have been covered by LNG exports. But MEES understands Shell is far from happy with the Egyptian authorities as it has failed to fo...

Aramco Awards Ras Tanura Clean Fuels, Seals Indonesia Deal

...nfiguration has been completed and the process to select technology licensors will start soon. Basic engineering design work is scheduled for completion in first quarter 2017, with progress to FEED in the second quarter and project start-up slated for 2021. The Cilacap expansion is a key part of Aramco’s ov...

UAE Sets Out Nationwide Power Strategy, Targets 50% ‘Clean Energy’ By 2050

...16) Al-Mirfa CCGT (Gas) 1.60 Dewa (2017) Solar Park 2 (PV) 0.20 Sewa (2017) Hamriyah Ex...

Saudi Cuts Deep To Boost Prices, But Will US Shale Pocket The Gains?

...der which its “allocation" was 10.06mn b/d for the first six months of 2017 (see table and MEES, 2 December 2016). Saudi crude production was 10.40mn b/d in December according to MEES estimates (MEES, 6 January), whilst the most recent official Saudi monthly figures had production at an all-time re...

Saudi Hands Out New Drilling Contracts

...VIET UNION (EXCEPT SAKHALIN).     HESS TO TRIPLE BAKKEN RIG COUNT US shale-focused independent Hess, in a 12 January update to its 2017 capex guidance, says that it plans to spend $2.25bn on E&P next year, up from $1.9bn in 2016. The key boost is slated for North Dakota’s Bakken shale fo...

Iran’s Cash Handouts Scheme: A Lingering Problem

...s been allocated to projects and the treasury has received little cash. SCATTERGUN APPROACH The key ‘culprit’ has been the scattergun approach of the cash handouts. Under the original law every Iranian was entitled to receive a monthly payment of IR450,000 ($13.6 at the 2017-18 budget ex...

Dubai Edges Up Spending

...Dubai’s recently-revealed 2017 budget projects total spending of Dh47.3bn ($12.9bn), up 2.6% from 2016, and a deficit of Dh2.5bn ($681mn), or 0.6% of the emirate’s GDP. The second most important UAE emirate after Abu Dhabi is bucking the trend by edging up spending at a time when other Gulf st...

Global Oil Supply To 2040: Exxon Projects Conventional Crude Will Remain Dominant In Mideast, Russia, But Not Elsewhere (Mn B/D*)

...*NGLS & EXTRA-LIGHT/HEAVY OIL ON A ‘CONVENTIONAL CRUDE EQUIVALENT’ BASIS BASED ON ENERGY CONTENT. SOURCE: EXXONMOBIL 2017 ENERGY OUTLOOK.  ...