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Lamprell: First Saudi LTA Award
...o offshore production deck modules and associated pipeline and subsea cables. The UAE firm’s primary facilities are in Hamriyah, Sharjah, but in 2017 it signed a joint venture agreement with Saudi Aramco, national shipping carrier Bahri and Hyundai Heavy Industries to establish and operate a ma...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Oman’s Upstream Gets Key Gas & Offshore Boost
...scalzi says the target is “most likely gas or gas/condensate” (MEES, 15 November 2019). The firm is proud of kicking off drilling only seven months after the acquisition closed, though it was provisionally awarded the block in 2017 (MEES, 15 September 2017). Eni has 55% of Block 52, Qatar state firm QP...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Saudi Energy Minister Makes Gas Export Pledge
...e task to transition towards becoming a gas exporter is no easy one. Indeed, prior to the June 2017 Qatar embargo, Saudi Arabia had been in talks with its gas rich neighbor to begin imports (MEES, 8 December 2017). Sales gas output was a record 8.9bn cfd in 2018, from raw gas output of around 12...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Shell Egypt: Mixed Signals
...ssible sale of its Egypt portfolio. WDDM: DEEP SLUMP, MODEST REBOUND WDDM output bottomed out at 151mn cfd in 2017 following years of under-investment, increasing to 223mn cfd in 2018, although still a far cry from the roughly 800mn cfd it was producing at the start of last decade. The fields ar...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
US Surges Past Saudi As World’s Top Oil Exporter
...reducing demand: down 10% from its 2017 peak to average 550,000 b/d for 2019. Fuel oil dynamics on the other hand have been trending in the opposite direction, and the kingdom became a net importer of the fuel in 2019 for the first time since Jodi stats began in 2002. After recording net-ex...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Egypt’s Asorc Awards Assiut Hydrocracker
...kely optimistic given the preliminary nature of the latest contact. Asorc is one of a number of Egyptian refiners planning to improve Egypt’s refining sector. After processing an average 76,300 b/d of crude in financial year 2017-18, Asorc has announced plans for 4.1mn t/y (82,300 b/d) throughput in...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Kuwait LNG Imports Rise In 2019
...18, this would still fall shy of 2017’s record 3.5mn tons. Nearly 60% of Kuwait’s power capacity comprises from gas-fired plants, and upgrades here in recent years have enabled more efficient generation. As such Kuwait generated record amounts of electricity in 2019 (MEES, 14 February), despite ga...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Aramco Trading Signs Kuwait Crude Deal
...Saudi Aramco’s trading arm, Aramco Trading (ATC) is rapidly stepping up its activities. Overall liquids traded in 2017 totaled just 1.40mn b/d, jumped to 2.17mn b/d in 2018 and 4.5mn b/d in 1Q 2019. The firm aims to reach 6mn b/d by the end of this year (MEES, 19 July 2019). It appears to ha...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Egyptian Firms Win Nuclear Work
...ich Egypt will begin repaying the loan (MEES, 15 December 2017). ...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Algeria’s 3.5BCM/Y Ain Tsila ‘Ahead Of Schedule’
...in line with the September 2022 timeframe outlined when Petrofac was last March awarded the key $1bn EPC contract (MEES, 15 March 2019); given Algeria’s record of chronic delays sticking to this latest target no doubt feels like a victory. The project had originally been slated for 2017 start-up (ME...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Iraq’s Costly Liquids Habit
...Iraq’s gas shortages mean the country is dependent on burning liquids for electricity generation. Total liquids burn edged up in 2018 to 328,000 b/d from 318,000 b/d in 2017 as post-war reconstruction drove increased demand. The increase would have been considerably greater had it not been fo...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Tunisia’s Oil Woes Here To Stay
...terested in heading for the door than splashing the cash. Tunisia’s glory days of being a net oil exporter are long gone. Crude output has nosedived in recent years and in 2018 it only managed 38,400 b/d. That this fall is of a relatively-modest 1% from 2017’s previous 50-year low is only due to the fa...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Oman Looks To Bag More IOCs In Latest Licensing Round
...d round saw the likes of Occidental (Oxy) expand its portfolio in the sultanate (MEES, 9 November 2018) whilst the 2017 bid round brought Italy’s Eni and Qatar Petroleum into the fold (MEES, 15 September 2017). Oman’s Oil Minister Muhammad al-Rumhy told MEES last year that bringing bigger, more pr...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
India Crude Imports: Iraq, Saudi Dominant Despite Looming Long-Haul Challenge
...*India imported a record 4.51mn b/d of crude in 2018, up 4.5% on 2017. At 2.94mn b/d, volumes from the Middle East for 2018 were also a record, though the Gulf’s market share, at around 64% has remained static for the past three years (see Chart 1 and table, p20). *The second half of...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Taiwan Crude Imports Hit 8-Year High, Opec Share At Record Low
...re stagnant last year, those from key African Opec producer Angola collapsed from 70,100 b/d in 2017 when Angola was the fourth largest supplier, to just 10,700 b/d for 2018. *Among Gulf suppliers, Saudi Arabia remains Taiwan’s top supplier, with 270,000 b/d for 2018, 30% of total imports. Vo...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Australia Challenges Qatar For Taiwan LNG Top Spot: Just The Prelude?
....4% on 2017’s previous record. But Taiwan had a bumper December, with its 2018 total of 16.9mn tons, up slightly on 2017’s previous high. Coupled with monthly record imports from China and Korea, December saw the highest ever monthly LNG trade volumes (see chart, p24). In Taiwan, Qatar remained we...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Saudi Crown Prince’s Asian Tour: Lots Of Promises, Little Detail
...increasingly precarious dependence on Chinese debt. As for Saudi Arabia, the investments could guarantee access to a growing market for its crude oil. It provided 88,000 b/d of Pakistan’s 212,000 b/d oil imports in the 2017-18 financial year, behind only the UAE on 121,000 b/d (MEES, 9 No...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Gulf Loses Patience With Sudan
...$1; a lack of banking liquidity is expected to bring further declines. Government plans to print more large-denomination banknotes have been thwarted by a lack of the right kind of paper. Gross international reserves in 2017 were just $1.1bn, providing less than two months of imports cover, according to th...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Saudi Reaps Rewards Of Downstream Investment
...cord and just 1mn barrels shy of the monthly record set in February 2017. Even while being helped by drawdowns, the production surge will have placed a toll on infrastructure and may have contributed to recent, partial outages at the 1.5mn b/d offshore Safaniyah field reported by Reuters. The up...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Saudi Renewables Plan: More Answers, More Questions
...ergy still costs money to generate. Assuming the government is serious about the Repdo plans, it needs to act quickly. A stepping stone 2024 target of 27.3 GW is no easy feat – the Mena region’s total installed wind and solar capacity as of 2017 was just 5.7GW. Planned 2019 tenders amount to 3....
Volume: 62Issue: 08Published at Fri, 22 Feb 2019