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Egypt Bags Exxon As Shell Steps Up Commitment
...i and BP until 2017, giving them plenty of opportunity to test the ‘Zohr concept.’ With both ExxonMobil and Total holding licenses on the other side of the Egyptian maritime border in Cyprus, it was thought the two firms might look for acreage in the deeper offshore. MEES understands that Exxon re...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
BP: Belated Start-Up At Wnd Phase 2
...se at Giza and Fayoum to 700mn cfd by June, adding to the already producing Phase One Libra and Taurus fields, which started up in April 2017 and are also producing at 700mn cfd (MEES, 12 May 2017). Giza and Fayoum is an eight well development, tied back to already existing onshore processing fa...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Mauritania Looks To 2019 Drilling To Boost Gas Riches
...nority C-18 stake, Tullow now has only a single operated block, shallow-water C-3 (Tullow 100%). The firm says that here it is currently interpreting 3D seismic shot in 2017 “to identify prospects for a potential 2020 well.” ...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Kurdistan Gas: The Key To Easing Iraq’s Chronic Power Shortages?
...s 400mn cfd Khor Mor field. It is also the only producer bringing additional volumes online. But while past differences with the Kurdistan Regional Government (KRG) have been resolved, the consortium’s ability to grow production without an outlet for its volumes is constrained (MEES, 1 September 2017...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Occidental Launches Renewed Mid-East Push, Targets 2021 Volumes
...e east of Block 62 with a small gap between them. There is then a continuous arc from Block 62 to Block 9, with blocks 27, 30 and 65 lying between them. Block 27 output is modest at around 5,000 b/d while the other two are recently acquired exploration blocks. Block 30 was awarded in 2017 under Om...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Tethys Oman On The Up
...ocks. On a gross basis, that equates to 40,000-43,333 b/d. The current annual record is 2017’s 40,541 b/d which was also set in the first year of Opec+ production cuts. A new record for 2019 would at least fit a pattern. Tethys is not quite a pure-play Oman firm, with its Lithuanian assets ne...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Heavy Outages Weigh On Seemingly Well-Supplied Market
...rrels of last choice (MEES, 18 January). In reality’, demand for crude from Opec’s Middle East core is arguably on the rise due to the dynamics flagged up by the IEA. This dynamic has been a concern ever since the first Opec+ cut agreement came into force in January 2017 (MEES, 21 July 2017). But wi...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Iran Exports: Korea Restart Amid French Euro-Hope
...gressive pricing. It has raised the Iran Light Mediterranean OSP by 25¢/B versus competing Saudi Arab Light over the past two months, though prices remain near record discounts (see p27). IMPORTS OF IRANIAN CRUDE & CONDENSATE ('000 B/D): VOLUMES EDGE UP IN DECEMBER; 2018 DOWN 580,000 B/D ON 2017...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
IOCs ‘Exclude’ Libya From 2019 Plans
...r them in 2018, with crude output hitting a five-year high of 220,000 b/d, up 80% on 2017 (see chart 2). Production could have been higher still if it wasn’t forced to temporarily halt production in June following attacks on export terminals (MEES, 29 June 2018). Part of the plans to double cr...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
GCC Small-Scale Solar Programs Inch Forward
...dermine the economics of solar. But recent sharp falls in the cost of solar panels have boosted not only large solar projects. They also make small-scale plants increasingly viable. International Energy Agency (IEA) data show GCC solar PV capacity only taking off in 2017, when an annual tripling of ca...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
IMO Bunkering: Regional Refiners, Ports Prepare Amid Industry Uncertainty
...8 ships in 2017 to 143 in 2018, with 135 more on order. World-leading LNG producer Qatar sees big potential for LNG bunkering, with energy minister and Qatar Petroleum chief executive Saad Sherida al-Kaabi saying that “there is real potential for demand to reach 50mn t/y by 2030” (MEES, 26 Ja...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
China Overtakes Germany, Now Libya’s No. 1 Customer
...aim the top spot. *China took just under a fifth of all Libyan volumes last year, recording a whopping 168% increase on 2017’s 65,000 b/d and topping the previous record on 147,000 b/d set in 2012 (MEES, 1 March 2013). *Traditional European customers Germany, Spain and Italy al...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Kurdistan’s Tawke Field Reserves Downgrade
...The Tawke block’s (DNO 75%op, Genel 25%) Peshkabir field has been covering up for sizeable production declines at the main Tawke since late 2017. Output was a healthy 128,000 b/d in January, but the Tawke field’s was just 74,000 b/d against 54,000 b/d - a 21.3% annual decline (MEES, 8 Fe...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Saudi Crude: Top In Korea
...7,000 b/d in 2018, up more than 120,000 b/d on 2017 volumes, including a record 434,000 b/d in December and 269,000 b/d in January. Volumes from Algeria also more than doubled to 44,200 b/d, translating into a 41.5% rise to $1.264bn in Algeria’s export earnings from Korea. Both Algeria’s Saharan Blend and Ea...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Italy 2018 Crude Oil Imports ('000 B/D): North African Producers Gain With Iran, Kuwait The Big Losers
...*CHANGES EXPRESSED ON A PERCENTAGE POINT BASIS. SOURCE: ITALY CUSTOMS DATA, MEES CALCULATIONS ITALY CRUDE IMPORTS (‘000 B/D): MIDEAST SHARE DOWN FROM 2017’S RECORD AS LIBYAN VOLUMES REBOUND... ...BUT, AT 127,000 B/D FOR 2018, IMPORTS FROM LIBYA ARE A QUARTER OF DE...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019