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Vive La Difference! IEA, OPEC Split On Supply, Price Views
...the medium-term, some $10/B higher than last year. While for its medium-term update the IEA has lowered its oil price assumption for 2017 by some $11/B compared to June 2011 (based on the prevailing oil futures prices). Longer-term, the discrepancies are still more marked. According to th...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
Jacobs Snags Luberef Contract, Maintenance Curbs Refinery Runs
...ptember, which will be the first of four new refineries due on-stream by 2017 with a combined throughput capacity of 400,000 b/d (MEES, 21 September 2012). In Libya operator Lerco has declared force majeure at the 220,000 b/d capacity Ras Lanuf refinery until 7 March, according to Reuters. An 18 Fe...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
Jiddah South Contract Awarded To Mitsubishi
...14 1,760 2014 2017 Al-Raies-1 1,800 2014 2017 Isolated Areas 60 2014 20...
Volume: 56Issue: 08Published at Fri, 22 Feb 2013 -
Neutral Zone Oil Production Capacity To Increase 180,000 B/D By 2019
...ich will go to Kuwait. The increase in production will start by 2015.” A big increase may come from Chevron’s steam flood development of the Wafra field’s First Eocene reservoir, adding an extra 500,000 b/d of 14-20° API crude, starting to ramp up after 2017. A final investment decision [FI...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Shah Deniz 2 Gas Supply Decision Likely To Be Taken In Stages
...rope beginning in late 2017 (MEES, 19 December 2011). The situation has been exacerbated by the announcements of a proposed Trans Anatolian Pipeline (TANAP) as an alternative to Nabucco’s cross-Turkey section and also a plan to expand Turkey’s Natural Gas Transmission System (NGTS). However, Socar CEO Ro...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Chevron Outlines Major Tengiz Investment Plan
...crease Tengiz production to 800,000-850,000 b/d by late 2017. Tengiz is Kazakhstan’s largest field and in 2010 produced 567,000 b/d of oil, 44,000 b/d of natural gas liquids and 822mn cfd of gas. He said that the Caspian Pipeline Consortium (CPC) pipeline, in which Chevron holds 15% equity, has so far ha...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
IEA’s World Energy Outlook: Review And Discussion Of MENA Deferred Investment Case
...S. In terms of production, lower investment in MENA reduces global oil production by 3.8mn b/d at its 2017 peak and 1.5mn b/d in 2035, compared with the NPS. The shortfall in MENA production, of some 3.4mn b/d in 2015, peaks at around 6.2mn b/d in 2020 by which time it is partly compensated by an in...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Russia And Slovenia Look To Seal South Stream Agreement
...ubljana. Gazprom currently supplies Slovenia with some 0.51 bcm/year of gas under a long term contract which expires in 2017. The two sides have agreed on the expansion of the contract to 2035, but have yet to start negotiations on the details, including the projected increase in the supplied volumes. Mr...
Volume: 54Issue: 08Published at Mon, 21 Feb 2011 -
Algeria’s Southwest Gas Project Awaits Approval Amid Political Turmoil
...anwhile, BP and Statoil are spending over $2bn in a phased project, firstly through compression and then through the development of four southern fields, to maintain capacity at their 9 bcm/y In Saleh project to beyond 2017. Meanwhile, Algerian legal authorities on 14 February extended the term of ju...
Volume: 53Issue: 08Published at Mon, 22 Feb 2010 -
Abu Dhabi’s ADCO Targets 1.8Mn B/D Oil Capacity
...CO) for phase one of the Bab field expansion. The announcement follows ADCO’s release of details of its planned crude capacity boost from 1.4mn b/d to 1.8mn b/d by end 2017. In addition to 425,000 b/d of gross scheduled capacity expansion, ADCO sees potential for 250,000 b/d of capacity to be added fr...
Volume: 53Issue: 08Published at Mon, 22 Feb 2010