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KRG To Struggle For Minor 2018 Production Gains
...ree new wells planned and re-entry at a 2014 well. Two wells are also planned at Zey Gawra. Russian state-backed firm Rosneft finalized a deal for five blocks in October 2017. While the blocks were not specified, registered company names suggest they are Blocks 8,9,10,11 and 13 (see map & table). Ro...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Qatar Sidesteps Trade Embargo With 20% Export Revenue Gain In 2017
...ar’s gains, with hydrocarbon exports amounting to 84% of total sales – the highest figure since 2014’s 87% when oil prices averaged almost $100/B. Hydrocarbon revenues rose 21% year-on-year thanks to a combination of rising oil prices and the start of commercial operations at the 146,000 b/d Ras La...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Japan Big Winner As Saudi Arabia Cuts Crude Exports
...uth Korea’s thirst for crude increased last year to 2.984mn b/d from 2.880mn b/d in 2016, while it too has diversified its suppliers. The Saudi share of total Korean imports fell to 28.9% last year, almost five percentage points less than 2014 (MEES, 12 January). Japan is the only market where Sa...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Iraq Hypes Over-Ambitious Refining, Export Capacity Targets
...ve more luck with the Fao plant given that products output is slated for the export market. The only one of Iraq’s new refineries to progress is a 140,000 b/d plant at Karbala for which a $6bn EPC contract was awarded in 2014 to a Korean consortium led by Hyundai E&C. But work here has been sporadic, wi...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Iraq’s Crude Burn Falls From Peak As Generators Exploit Alternative Fuels
...NERATION (MW) Plant type 2014 2015 2016 2017 Steam turbine 3,...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Saudi-Russia Relations Mean Opec+ ‘Deal’ Will Continue. At What Price?
...al. Crude prices at their highest level since late 2014 also point in this direction. But the interests of both core participants, Saudi Arabia and Russia, make a formal wind-down unlikely. Venezuela’s output collapse enabled Opec and the 10 non-Opec countries party to the December 2016 output de...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Sabic Profits Boost From Rising Oil Prices As Horizons Expand With Clariant Buy
...s SR18.40bn ($4.9bn) for 2017, up 4.5% on SR17.61bn ($4.7bn) for 2016. This was the first annual net profits upswing since the crude oil price collapse of 2014 undermined the petrochemicals sector, whose products prices are index-linked to crude. Mr Binyan attributes last year’s increase in net pr...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018 -
Kuwait Budget Deficit Set To Shrink In 2018-19 As Oil Prices Recover
...d already grown frosty and the nine months 2016 awards were well down on the same period in 2014 ($24bn) and 2015 ($30bn). Of 2017 awards, around $2.2bn (25%) is related to the oil and gas sector, including $850mn to Italy’s Saipem for a 450km feeder crude pipeline to the planned Al Zour re...
Volume: 61Issue: 05Published at Fri, 02 Feb 2018