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Stars Align As Exxon Hikes Egypt Commitment
...epwater discoveries” in 2019 – and the only one outside Guyana. The Star Block covers an area that up to 2017 belonged to UK major BP, through its North Tennin block and Italian firm Eni through its Karawan concession (MEES, 24 March 2017). Prior to this the acreage was part of Shell’s giant Nemed Bl...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Algeria Presents Ambitious 2020 Energy Action Plan
...tober 2017). Instead, Algeria would be better served by concentrating on getting its existing conventional oil and gas projects off the ground. On the refining front, the action plan calls for an increase in refining capacity to 35mn t/y by 2024 and boosting products storage capacity from 12 to 30 da...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Total: Oxy Algeria Talks
...rchasing the stakes, France’s ‘national champion’ would become Algeria’s top foreign producer – a potentially testing prospect for Algeria, which gained its independence from France following a bloody civil war in 1962. Total already has 12.25% of the blocks in question (404a and 208) from its 2017 pu...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Dana Eyes Egypt Cash For Bond Repayment
...tions, but these are all in early stages,” the firm says, adding that its end-2019 cash reserves of $425mn are in excess of the $397mn owed. Dana was engaged in a protracted legal dispute with its bondholders over its previous $700mn Sukuk in 2017, though its creditors ultimately accepted the re...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Pressure Mounts For Deeper Cuts As IEA, Opec Warn Of Demand Concerns
...UEEZE The last few years have been tough for Opec, which has slashed production in a bid to rebalance the market. Production cuts entered effect in January 2017 and are looking increasingly likely to be extended until the end of 2020. Add in huge sanctions-related output falls in Venezuela and Iran – no...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Global LNG: Asian Demand In The Balance As Prices Fall To Record Low
...ES 2: JAPAN LNG IMPORTS - TOP 10 SUPPLIERS (MN T): AUSTRALIA & USA UP, EVERYONE ELSE DOWN AS OVERALL VOLUMES FALL TO LOWEST SINCE 2010 SOURCE: JAPAN CUSTOMS, MEES. 3: WORLD’S TOP LNG IMPORTER (MN T): CHINA OVERTOOK KOREA FOR #2 SPOT IN 2017. IT IS NOW CLOSING IN ON LONG UN...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
GCC Petchems Producers Push Recyclable Plastics
...edstock from recycled PET bottles. The company aims to increase production, currently at Schopkau in Germany, to industrial scale. PLASTICS END-USE BY RESIN (2017, MN TONS) SOURCE: IEA ‘FUTURE OF PETROCHEMICALS’, OCT 2018. GLOBAL OIL* USE IN PETCHEMS SET TO RISE-IEA PROJECTIONS^ (MN...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Mena Nuclear Programs Advance Slowly In Shadow Of Geopolitics
...d US firm Westinghouse. Kacare has said it is seeking a “standard plant design” ahead of preliminary engineering (MEES, 1 December 2017). Riyadh’s two-reactor plan is a massive reduction of Kacare’s original 2013 vision of 16 nuclear plants with combined capacity of 18GW by 2032. Kacare now also pl...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Qatar 2019 Powergen Record
...evious annual record of 43.9TWh in 2017. An all-time high of 5.65TWh was recorded in August, while December was just the latest in a long series of monthly records (see charts). Rising energy consumption is far from unusual in the GCC, but the scale of the annual increase in Qatar is remarkable. That sa...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020