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Egypt Oil Output: Any Chance Of A Rebound?
...cord 61,800 b/d for 2H 2020, a record 12% of Egypt’s total output, effectively maintaining the monthly record 62,000 b/d hit last August (MEES, 18 September 2020). Having averaged 40,000 b/d for the decade to 2017, GPC output from onshore fields in the Eastern and Western Desert, has rapidly increased si...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Adnoc’s Sour Crude Wins Over Buyers In China
...0,000 b/d production capacity (Adnoc 60%, Exxon Mobil 28%, Inpex 12%: see chart 2). The partners are working to expand capacity to 1mn b/d by 2024 (MEES, 17 November 2017). Upper Zakum is one of the deliverable grades for the Shanghai International Energy Exchange (INE) oil futures contract which was la...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Thailand Crude Imports: Mideast Share Falls To Record Low
...the UAE in 2017 when Saudi notched up a record 259,000 b/d, Saudi volumes have since slipped back: 2020’s 195,000 b/d was a six-year low. *The USA was number three with volumes rising 12,000 b/d to a record 98,000 b/d for 2020. *Gaining market share at the Gulf’s expense have be...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Algeria’s Power Output Falls For First Time On Record In 2020
...20, but was also the second highest on record ahead of 2017’s 14.45GW (see chart 2). The good news is that peak demand remains well below Algeria’s installed capacity, which rose by 900MW to 22.9GW last year. That buffer isn’t as large as it looks, however. In reality, Algeria’s ‘available ca...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Saudi Arabia Unveils PIF’s Five Year Strategy
...erall, Saudi GDP growth has been slow since the late-2014 oil price crash (see chart 1). The late-2017 decision to end austerity measures (MEES, 22 December 2017) that were crimping growth had been paying dividends, but the unprecedented turmoil of last year derailed the economy. The IMF’s latest es...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021