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KRG: Genel Finalizing Taq Taq Exit
...6,000 b/d in 2015, but it suffered a catastrophic output collapse as geological challenges prompted huge reserve downgrades from 2017 (MEES, 31 March 2017). Output was below 5,000 b/d even prior to the 2023 closure of the KRG’s export pipeline, and Genel opted not to produce from it last year (MEES, 26 Ja...
Volume: 68Issue: 05Published at Fri, 31 Jan 2025 -
Iraq Eyes Japanese Replacement For Inpex Stake
...ch as JX Nippon are unlikely to be willing to replace Inpex given the risky operational environment. Located in Dhi Qar province and discovered by Lukoil in 2017, Eridu is one of Iraq’s largest discoveries in recent years....
Volume: 66Issue: 05Published at Fri, 03 Feb 2023 -
KPC Prepares To Streamline Subsidiaries With Reshuffle
...5,000 b/d refinery and a 22mn t/y LNG import terminal are slated to start up this quarter. Kipic was only established in 2017, but looks set to be merged back into KNPC. Elsewhere, with Kuwait Oil Tanker Company (KOTC) CEO Ali Shehab retiring, he will be replaced as acting CEO by Abdulnasser al-Fulaij, th...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Saudi City Of The Future Signs Up For Solar Desal
...Arguably the most ambitious, and certainly the most headline grabbing, element of Prince Mohammad bin Salman’s plans to shakeup Saudi Arabia’s economy is Neom. The futuristic “robot city” on the kingdom’s Red Sea coast comes with a $500bn price tag and was first announced in 2017 (MEES, 27 Oc...
Volume: 63Issue: 05Published at Fri, 31 Jan 2020 -
SEC: Sales Down, Profits Down
...2016 (MEES, 8 January 2016). The utility’s net profits peaked at SR6.91bn ($1.84bn) in 2017, but have since fallen due to changing consumer behavior (see chart). SEC NET PROFITS ($BN) ...
Volume: 63Issue: 05Published at Fri, 31 Jan 2020 -
Saudi PIF Eyes Premier League
...gnate Mike Ashley. The UAE’s Sheikh Khaled bin Zayed al Nahyan failed last year in a bid to purchase the club from Mr Ashley, who put the club up for sale in 2017 (MEES, 31 May 2019). Riyadh has been accused of trying to ‘sportswash’ its human rights record. In December Riyadh hosted the heavyweight bo...
Volume: 63Issue: 05Published at Fri, 31 Jan 2020 -
Genel: Kurdish Gas Reprieve
...adline for the Miran GLA is now 31 May. Both were set to expire in February, having already been extended from the initial February 2018 deadline (MEES, 17 February 2017). Genel claims combined “gross mean” gas reserves of 11.4tcf. Conditions included “execution of final agreements on the midstream ga...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Japan: Top Saudi Buyer, For Now
...08. Saudi is far and away number one supplier with 1.164mn b/d, 38.1% of the total, for 2018 (see data, pXX). But 2018 will likely mark the last year for which Japan is Saudi Arabia’s top customer. Japan’s lead over China shrank from 250,000 b/d for 2017 to a mere 29,000 b/d for 2018. China was al...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Libya’s NOC Cuts Gas To Fertilizer Plant
...ra (50%), NOC (25%) and Libyan Investment Authority (25% - MEES, 16 February 2009), hasn’t made a profit since the 2011 Libyan revolution and has racked up a combined $234mn in loses up to 2016 according to Yara annual reports - no figure was given for 2017. Yara wrote down $112mn of its investment in 20...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Sharjah Signs Up For 1.8gw CCGT
...its, the first of which is scheduled to begin commercial operation in May 2021. Sewa’s current 2.77GW of capacity in gas and diesel fueled power plants is unable to meet demand, requiring imports from Abu Dhabi that amounted to 6.93THh at levels up to a peak of 1.3GW in 2017. Sewa’s move follows the fo...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019 -
Aramco Advances Crude-To-Petchems Plans
...lly formalized or the planned takeover of Sabic by Aramco is completed. Separately Sabic filed a US patent application for a crude to chemicals concept involving existing refinery units and a cracker (MEES, 1 December 2017). The plant will have capacity to process 400,000 b/d of Saudi crude to pr...
Volume: 62Issue: 05Published at Fri, 01 Feb 2019