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GCC Gas Integration: More Than Just A Pipe Dream?
...rough a 2bn cfd pipeline. Flows have continued despite the onset of the Qatar embargo in June 2017, with Dolphin reporting exports of 2bn cfd in 2017 (MEES, 9 June 2018). Rates have stayed flat in 2018. The rationale for gas integration has long been clear. Qatar and Oman aside, the GCC countries have fa...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Genel Farm-In Boosts Development Prospects At Chevron KRG Blocks
...0,000 b/d Tawke license (DNO 75%op, Genel 25%) has fared better. In Chevron, Genel gains a world class partner whose technical expertise could perhaps help avoid geology-related declines that have previously plagued Genel (MEES, 31 March 2017). “We are delighted to have been chosen as a partner to Ch...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Baghdad: KRG Budget Overture
...Iraq’s 2019 budget, passed by parliament 24 January, formalized the central government’s payments to KRG state workers and Peshmerga forces, further affirming the thawing relations between Baghdad and Erbil after the KRG’s ill-fated 2017 independence referendum (MEES, 29 September 2017). “Th...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Bahrain Looks To Parlay Upstream Potential Into Downstream Riches
...an leads the way with its 1bn cfd BP-operated Khazzan tight gas field (MEES, 29 September 2017). Meanwhile, Abu Dhabi awarded Total a contract to develop the Ruwais-Diyab unconventional gas concession in November 2018 (MEES, 23 November 2018). Most pertinently, Saudi Arabia is developing the nearby Ja...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Bahrain’s Grand Ambitions: MEES Speaks With Oil Minister Muhammad Al Khalifa
...w into this formation. We flowed oil in 2017, this is the oil we flowed, from the first test well. Now we are drilling wells to put them on an extended flow test and that data we’ll collect and put in a data room and invite international companies to have a look. Hopefully it becomes cost co...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Saudi: Pre-Deal Deja-Vu With Output, Export Records
...evious Opec output deal, when Saudi Arabia exported 8.258mn b/d (MEES, 20 January 2017). Going much further back, the only other month to top this was May 2003 (8.344mn b/d) when Saudi massively drew down stocks to boost exports to compensate for the loss of Iraqi volumes with the US invasion. *Of...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Thailand Crude Imports: Abu Dhabi Cements Top Spot
...d crude imports growing 7.4% to top 1.1mn b/d for 2018, Thailand is at the top of the second tier. The UAE (effectively Abu Dhabi) cemented its position as top crude supplier to Thailand in 2018. Average volumes of 361,000 b/d were up 14.5% on 2017 though still down on 2013’s record 44...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Iran: Exports Edge Up But Outlook Remains Bleak
...port data as the only reliable source of numbers – and by definition such data does not cover bonded storage. IMPORTS OF IRANIAN CRUDE & CONDENSATE ('000 B/D): VOLUMES EDGE UP IN DECEMBER; 2018 DOWN 580,000 B/D ON 2017 *INDIA & TURKEY DEC FIGURES ARE ESTIMATES BASED ON SHIPPING DATA AND RE...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Libya Halves 2018 Budget Deficit But Remains Hostage To Oil And Conflict
....5% is factored in. Of this, oil and gas income accounted for a massive 93%, a five year high: any semblance of economic diversification is a long way off (see table). Non-oil revenues came in at a puny LD2.4bn, not only a whopping 56% lower than the figure projected in the budget but 23% down on 2017...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Oman Smashes Records In 2018 With Refining and Gas Push
...om 171,000 b/d in 2017 to 220,000 b/d in the last nine months of 2018 and increasing crude refining capacity from 116,000 b/d to 198,000 b/d. State refiner Orpic announced technical completion in 2017 after years of delay (MEES, 17 February 2017) with a 1Q 2018 ramp up (see chart 1). The upgrade at So...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Mena Nuclear Power Plans Lose Their Glow
...Ruwais, is not expected before the end of 2019. “Nuclear is coming, but there will be a delay,” he announced earlier this month. State nuclear firm Enec originally intended to bring the four 1.4GW Barakah reactors online at yearly intervals over 2017-20. But state nuclear regulator FANR will no...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Kuwait 2019-20 Budget Envisages Bumper Deficit Amid Faltering Oil Prices
...vestment the key culprit. Mr Hajraf says Kuwait will maintain development spending at 17% of the total for 2019-20, some $12.4bn. An admirable aim, but one that ignores reality. 2017-18 was the closest Kuwait got to achieving this with 13%: for 2018-19 Kuwait is on track to invest just $5.5bn in in...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Pakistan Gulf Diplomacy Picks Up Further
...% in 2017), but Islamabad is seeking to secure lower prices (MEES, 31 August 2018). So far, Mr Khan has worked on balancing relations with its critical Gulf trade partners and investors in the face of the GCC rift. Pakistan has already bagged critical aid from Saudi Arabia and the UAE, and is ba...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Global LNG Trade Soars To Record 2018
...EAST ASIA’S ‘BIG 3’ LNG IMPORTERS* COLLECTIVELY TOOK A RECORD 181MN TONS IN 2018, UP OVER 13% ON 2017. CHINA SAW IMPORTS RISE A WHOPPING 41%... SOURCE: NATIONAL IMPORT STATISTICS, MEES CALCULATIONS. SEE BELOW FOR FULL CHINA DATA. ...TO CEMENT ITS GLOBAL #2 POSITION BEHIND JA...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019 -
Saudi Arabia November 2018 Oil Data ('000 B/D): Crude Exports Rise To 2-Year High As Record 11.398mn B/D Of Crude Is Supplied To The Market
...CHANGES EXPRESSED IN PERCENTAGE POINT TERMS WHERE ORIGINAL FIGURES ARE PERCENTAGES. *EXCLUDES FIELD LPG (650-700,000 B/D). **NAPHTHA REFINERY OUTPUT INCLUDED IN 'OTHER PRODUCTS TO DEC-2017 (479,000 B/D FOR 2017). ^PRESUMES ALL FUEL OIL CONSUMPTION IS BURNT IN POWER PLANTS. SOURCE: JO...
Volume: 62Issue: 04Published at Fri, 25 Jan 2019