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Qatar Looks To Cement Role As Pakistan’s Top LNG Supplier
...come online in December 2017. PAKISTAN LNG IMPORTS MARCH 2015* TO JANUARY 2017 ('000 TONS)… *PAKISTAN BEGAN IMPORTING LNG IN MARCH 2015. ^NOT LNG PRODUCERS, IMPLIES RE-DIRECTED CARGOES. SOURCE: CEDIGAZ LNG SERVICE. … QATAR SUPPLIED 75% OF 2016 VOLUMES (MN T)...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Kuwait Advances Petchems Expansion With Key Olefins, Aromatics Awards
...a KD34.2bn ($112bn) national investment plan for the period 2015-19. The plan, since expanded to $115bn for 2017-21, included the new refinery at Al-Zour and a clean fuels project at two of Kuwait’s existing refineries (MEES, 20 February 2015). The new parliament, elected in November, is less co...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Egypt Power Ministry Seeks More Funding As First Megaproject Linked To Grid
...l Ayun Musa (Al-Nowais) 2.64 Coal El-Shabab* (Techint, 2017) 0.50 Gas Dairut (Ac...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Opec: Can It Cut More And Cut Longer?
...rong, soaring supplies in countries not party to the deal, in particular the US and Brazil, have left Opec with an uphill task. Opec’s job has been helped by growing oil demand: whilst both the IEA and Opec revise up 2017 non-Opec supply in their latest monthly market reports, they revise up demand by...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Tunisia: Oil & Gas Slump, Tourism Collapse – Bonds To The Rescue?
...Tunisia has launched an €850mn international bond to help cover its projected $2.3bn 2017 budget deficit. The central bank says the seven-year bond priced at 5.625% was twice oversubscribed. Finance Minister Lamia Zribi says Tunisia will return to the market later this year with the aim of...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Majors Look To Permian For 2017 Rebound
...Majors are looking to keep capex tight in 2017. They hope that by focusing extra cash on the US Permian they will be able to boost output nonetheless. With cost inflation already gathering pace they will struggle to pull this off. The five supermajors plan collective capex spending of ju...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Total Sees Expansion ‘Opportunities,’ But Not In Shale
...Total is setting aside $2bn for potential acquisitions in 2017. But these won’t be in the Permian. Building on a theme he explored in a recent MEES interview (MEES, 25 November 2016), Total CEO Patrick Pouyanné told his firm’s 9 February Q4 earnings call “US shale is too expensive for me...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Saudi Arabia Eyes Immediate Vision 2030 Boost
...ES, 2 December 2016). Saudi real GDP growth is expected to slow to 0.2% in 2017 from 1.4% in 2016, with oil GDP contracting by 0.3% (versus 3.4% growth in 2016 ) on the back of lower output (see p12)....
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
East Mediterranean Gas Faces Crucial 2016
...ant. The tender sought gas volumes rising from 19.5-30.4 trillion BTU in the first year to 25-43 trillion BTU by 2025. According to the terms of the tender, first gas was to be delivered between 1 January 2016 and 30 June 2017 although, with Cyprus currently lacking gas infrastructure of any sort these da...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Skint, Petroceltic Sells Egypt Blocks
...illing North Thekah towards the beginning of 2017. We would consider drilling Port Fouad in 2017 – potentially back to back” (MEES, 27 November, 2015). The attraction of Edison to the two blocks is boosted by it having the Israeli Neta and Royee licenses immediately to the east. Petroceltic was op...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Oman And BP To Expand $16bn Khazzan Gas Project
...velopment of the Sultanate’s oil and gas sector appears unlikely (MEES, 12 February). Indeed, while the overall rig count fell, the number of gas drilling rigs remained at a record 15. Phase One of the Khazzan tight gas project is planned to deliver first gas in late 2017. The10.5 tcf field lies in...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Adnoc Head Replaced As Abu Dhabi Eyes Output Rise
...osting oil production capacity. Adnoc has majority stakes in all of Abu Dhabi’s oil fields, with production around 2.9mn b/d. As such, Adnoc is essential for the UAE’s plans to increase overall production capacity from 3.2mn b/d to 3.5mn b/d in 2017 and Mr Jaber will be expected to bring the dr...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Tunisia Bags EU, IMF Cash But Oil & Gas Output At Record Lows
...untry’s second year of production. Gas output has fared only somewhat less badly (see graph) More bad news came with Austria’s OMV revealing in its 18 February results presentation that first gas from southern Tunisia’s Nawara project has slipped from 2017 to 2018 following the start of pipe laying in De...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Iran Sets Out FDI Strategy As Foreign Cash Starts To Trickle In
...ich projects it to increase to 12.6% in 2017-18 before beginning to fall. Mr Nili adds that the Iranian economy must create 655,000 jobs annually, just to keep unemployment at its current level; to bring down the unemployment rate to below 10% Iran needs to create 1mn jobs each year, he ad...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Saudi ‘Dumping’ Has Cannibalized Opec Revenue For Minor Long-Term Gains
...ve a right answer, we have to consider the majors’ longer term capex plans; because in the long term oil companies will do their best to adjust themselves to the new conditions and continue to make profits and satisfy shareholders. Comparing majors’ capex for 2014 and 2017 shows that though th...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
US Crude Output - Lower For Longer?: EIA Forecasts (Mn B/D By Date Of Forecast)
...SOURCE: EIA SHORT TERM ENERGY OUTLOOKS. FIRST 2017 FORECASTS WERE IN JAN 2016....
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Libya Peace Talks Begin But Economy Slides Towards Ruin
...uld run out in May 2017. Libya’s budget deficit in 2014 was $19bn. The only way to replenish these reserves is by a resumption of oil exports in substantial volumes. This is unlikely. The Sidra and Ras Lanuf terminals, which have combined capacity of about 600,000 b/d, are still closed. NOC de...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Total Takes The Long-Term View On Global Lng Markets
...the political and military crisis between Ukraine and Russia – we hope that this geopolitical context will change sooner rather than later. We are still hoping for a start-up in 2017-18. We have already incorporated Yamal LNG output in our portfolio, and we are expecting good news from the US on...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Mideast To Add 1.7Mn B/D CDU Capacity By 2020; Highest Growth Worldwide-IEA
...ndar Abbas is reportedly nearing completion and the first phase is expected to be commissioned in 2017, significantly increasing the country’s gasoline and diesel output. Once the three phases of the project are completed, Iran could become a net gasoline exporter,” the IEA says. Iran imported a record 17...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015 -
Hyundai Awards Subcontracts For Abu Dhabi’s Mirfa
...d extend motor life. Mirfa will have a capacity of 1.6GW and 240,000 cmd. It is scheduled to be brought online in phases during 2016 and 2017. The power and desalination units will respectively incorporate CCGT and reverse osmosis technology. The plant will require a supply of 230mn cfd of ga...
Volume: 58Issue: 07Published at Fri, 13 Feb 2015