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Saudi Starts Up Key Fadhili Gas Plant
...aning that even after Tanajib starts up it will still be short by nearly 1.5bn cfd (MEES, 15 December 2017). The enormous $110bn Jafurah unconventional gas project is slated to start-up in 2024, but initial volumes are unclear. Given the long ramp-up to 2.2bn cfd sales gas capacity in 2036, Jafurah is un...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Algeria’s Hassi Messaoud Gets Boost, More To Come
...ES, 21 February). Dodsal is also working on a 66,000 b/d gas-oil separation and compression project at the southern end of Hassi Messaoud, which at the time of its award in 2017 had a 2020 completion target. This is likely to slip however, as Algeria’s 2018 energy activity report released in Oc...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Algiers Refinery Hike
...ECC, which took over the project in late 2016 after French firm Technip’s original contract was cancelled in 2015 (MEES, 9 June 2017). By that time Technip was already well behind on its initial 38-month work schedule. Fast forward to the “completion” date of 21 February 2019 and it appeared the re...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Occidental’s Mideast Gas Output Booms
...oup. Amec Foster Wheeler in 2016-17 carried out the Feed study for the previous phase of Shah expansion (MEES, 15 September 2017) Oxy’s 24.5% stake in the Dolphin consortium which delivers Qatari gas via pipeline to the UAE and Oman netted it a three-year high 161mn cfd last year, including a re...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Opec Gets No Cuts In The Time Of Coronavirus
...commendation for Opec+ to deepen cuts by 1.5mn b/d (1mn b/d to Opec and 500,000 b/d to non-Opec) for Q2, before returning to Q1 levels for the remainder of 2020, Brent settled below $50/B for the first time since July 2017. A matter of hours later, Opec released a fresh announcement that it recommended the 1....
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Gulf Crude Exports To Korea On The Rise
...ghest since October 2017 and 452,400 b/d from Kuwait. Although volumes from Kuwait are down on month-ago levels they are above the 2018 average of 447,000 b/d. Volumes from Qatar though fell to 65,800 b/d, the lowest MEES has on record dating back to January 2008, while Korea imported a record 43...
Volume: 62Issue: 10Published at Fri, 15 Mar 2019 -
Tunisia’s Nawara Gas Project: Too Little Too Late?
...18 that crippled gas output the previous year (MEES, 2 June 2017), but worryingly still managed to oversee a 9% drop in production to an 11-year low of 193mn cfd. 2018 crude output fell to its lowest level since the country started producing in 1966 - a mere 38,400 b/d (MEES, 22 February). Lower ou...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Iran’s South Pars Gas Development Edges Forward
...maining six, but Iran has suffered major setbacks on Phase 11. Having tied up a $4.8bn contract with France’s Total (50.1%) and China’s CNPC (30%) to develop Phase 11 to produce 1.9bn cfd and 80,000 b/d condensate alongside local firm Petropars (19.9%) in July 2017 (MEES, 7 July 2017), the project has fa...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Egypt Oil Output To Fall As Key Producer Apache Slashes Investment
...llen in line with changes in drilling activity but with a lag of between 12 and 24 months. Most notably, the firm’s gross Egypt output slumped by 20,000 b/d between late 2015 and early 2017 as the firm slashed capex by 35% in 2015 and a further 45% in 2016 (see chart 3). This suggests that Apache’s gr...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
KRG-Pearl Reach 20yr Gas Sales Deal
...pipeline connection from the Kurdistan Region to its neighbors. Russia’s Rosneft agreed in 2017 to construct a 30 bcm/y pipeline to Turkey by 2020 but the absence of concrete progress means that deadline now looks unlikely (MEES, 22 September 2017). Elsewhere, partners at Pearl have told MEES th...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Can Iraqi Kurdistan’s Bickering Factions Grasp Key Opportunities?
...ferendum in September 2017 which saw longstanding KRG president Masoud Barzani (KDP) resign – he still plays a major role behind the scenes – and Federal Iraqi forces retake large swaths of territory including key oil fields in Kirkuk (MEES, 10 November 2017). The crisis further eroded relations with Ba...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Kuwait Eyes Revenue Boost From Clean Fuels Upgrade
...dullah, are expected to be fully online by the end of 2019. In the meantime, work at the refineries has contributed to reducing Kuwait’s throughput to its lowest level in more than 20 years. The CFP was originally intended for start-up in late 2017. The first unit testing was eventually carried out la...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Egypt Launches ‘Wealth Fund’, Awaits Wealth
...untry’s oil output is more likely to fall than rise over the coming years (see p5). Egypt posted a deficit of E£186.7bn ($10.4bn) for the first six months of the 2018-19 financial year (July-December 2018), more or less unchanged from the E£187.3bn ($10.6bn) for the first half of the previous 2017-18 fi...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Oman: Junk Rating
...an a sub-investment rating in late 2017 (MEES, 24 November 2017); Fitch followed suit at the end of 2018 (MEES, 21 December 2018). Moody’s says the “key driver” of its downgrade is the “expectation that the scope for fiscal consolidation will remain more significantly constrained by the go...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Egypt Oil Output Slump To Continue. Import Dependence To Deepen
...ll – but not by much. The leap in Egypt’s gas output over the last 18 months has been spectacular – having slumped below 4bn cfd in mid-2016, by the end of 2017 output had rebounded to 5.6bn cfd, just shy of 6bn cfd demand (MEES, 16 February). Oil Minister Tarek El Molla’s target of achieving self-su...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Rising Libyan Crude Output Hit By Outages At Key Southwest Fields
...e activity of a number of militias operating in different regions of the country generates a high level of insecurity,” Repsol said on 28 February. Sharara output resumed in December 2016 after a two-year outage: average 2017 output of 208,000 b/d was the highest since 2013 (see chart). But both Sh...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Total Closes Maersk Deal
...Total’s $7.5bn acquisition of Denmark’s Maersk closed on 8 March, barely six months after the plan was announced (MEES, 25 August 2017). Maersk’s net output fell to around 160,000 boe/d for the second half of 2017 after the company handed over its largest asset, Qatar’s 300,000 b/d Al-Shaheen fi...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Total Expands In Libya With Marathon Waha Purchase
....33% partner ConocoPhillips 45,000 b/d each. Hess has 8.16% with Libya’s National Oil Corporation (NOC) the remainder. Though output was shut in for two years from late 2014, it has since rebounded strongly, averaging 210,000 b/d for the last quarter of 2017 and 120,000 b/d for the year as a whole, ne...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Opec’s Falling Production Capacity Strengthens Saudi Control
...are Capacity IEA 2018 Capacity Jan18 Dec17 Feb17 2017 vs 16...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018 -
Syria’s Eastern Oil Fields: The Post-War End-Game
...In the second half of 2017, the US-backed Syrian Democratic Forces (SDF) stormed down the east bank of the Euphrates taking village after village from the Islamic State (IS) while the Syrian Arab Army (SAA) and its allies liberated besieged Deir Ez-Zor and the river’s western bank. IS now ho...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018