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Duqm Refinery Feedstock Imperiled By Hormuz Closure
...ich would later be upgraded to its current 106,000 b/d capacity. Oman then commissioned the Sohar refinery in 2008, initially with a capacity of 116,000 b/d and subsequently expanded to 198,000 b/d in 2017 (MEES, 17 February 2017). In 2006, the government floated plans for the refinery at Duqm be...
Volume: 69Issue: 11Published at Fri, 13 Mar 2026 -
Oman State Upstream Firm Targets 2025 Growth Via Acquisitions & Upgrades
...sat oil field in 2017 and its ramp up through the construction of the Bisat A, B, and C crude processing facilities. OQEP is now expanding the Bisat C facility to take overall crude processing capacity from 60,000 b/d to 65,000 b/d with the expanded capacity to be ”commissioned in Q3 2025.” Last ye...
Volume: 68Issue: 11Published at Fri, 14 Mar 2025 -
Egypt Eyes Takers For Undeveloped Offshore Gas Finds
...e UK major in November 2022. It was followed up in 2017 with the Salamat West discovery, which also lies in the on-offer block. Salamat, like Satis, is an Oligocene discovery, and drilled to a total depth of 6,881ms in water depth of 650ms. EUG pegs the Salamat block’s gas in place at 3....
Volume: 68Issue: 11Published at Fri, 14 Mar 2025 -
Iran Signs Local Firms For $17bn, 90tcf South Pars Gas Recovery Boost
...at rapid development of Qatar’s portion of the field could result in migration of gas across the boundary. Qatar previously maintained a 12-year moratorium on further expansion of the field which only ended in 2017 following extensive reservoir studies to determine the optimal development rate. Mr...
Volume: 68Issue: 11Published at Fri, 14 Mar 2025 -
Egypt Drilling: Orion Flops As Shell Kicks Off Six-Well WDDM Campaign
...hr’s December 2017 start-up, Cairo is pushing Chevron to fast-track development at Nargis in a bid to engineer a rebound (MEES, 19 January). But with Chevron yet to file a development plan, first gas here is unlikely before 2026. As such any near-term gains to Egypt’s overall output will be reliant on cu...
Volume: 67Issue: 11Published at Fri, 15 Mar 2024 -
Iran Awards Key $20bn South Pars Gas Contracts
...ded in 2017 following extensive reservoir studies to determine the optimal development rate. Iranian media has frequently carried concerns that rapid development of Qatar’s portion of the field could result in migration of gas across the boundary. Iran’s planned program is intended to reverse fa...
Volume: 67Issue: 11Published at Fri, 15 Mar 2024 -
Kuwait’s Pivot To Products Exports Yields Revenue Boost
...2024, that would be the lowest level since 2003. Meanwhile refined products exports have averaged around 850,000 b/d so far this year, putting Kuwait on track to smash 2012’s record 805,000 b/d. Crucially, having shuttered the aging Shuaiba refinery in 2017 and completed the $15.6bn Clean Fu...
Volume: 67Issue: 11Published at Fri, 15 Mar 2024 -
Eni & BP Plan 2023 Gas Wildcat On Oman’s Block 77
...5bn cfd Block 61 (BP 40%, OQ 30%, PTTEP 20%, Petronas 10%) tight gas development. BP’s successes on Block 61 sparked renewed IOC interest in Oman’s upstream. The 1bn cfd Khazzan development came online in 2017, followed in 2020 by a second 500mn cfd phase known as Ghazeer. Eni and BP first si...
Volume: 66Issue: 11Published at Fri, 17 Mar 2023 -
Egypt Sees Wildcat Drilling Slump
...this, some 5.05bn cfd, coming from the Mediterranean offshore (MEES, 4 March). The key developments that have boosted output to record levels are Eni’s 21.5tcf Zohr field which came online in late 2017 and BP’s West Nile Delta (WND) which started up in phases from 2017. But typical high de...
Volume: 65Issue: 11Published at Fri, 18 Mar 2022 -
Distillate Supply Crunch Concerns Rise As Stocks Fall
...ler (see chart 1). The three-month rolling average of 74,000 b/d in February was the lowest in Kpler data stretching back to January 2017. Many in the market will be hoping that the imposition of fresh lockdowns in Chinese cities may curb domestic demand sufficiently in the short-term to provide some te...
Volume: 65Issue: 11Published at Fri, 18 Mar 2022 -
IEA Shoots Down Speculation Of Emerging Super-Cycle As Oil Price Rally Stalls
...int. From 32.08mn b/d in 2017, the Call on Opec fell to just 28.7mn b/d in 2019. Even by the end of its outlook horizon in 2026 the IEA reckons the ‘call on Opec’ will only have recovered to 30.8mn b/d, still more than 1mn b/d below 2017 levels. OPEC DIVERGENCE: MIND THE GAP While th...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Dubai’s Enoc Imports Qatari Condensate, But Iran Remains The Missing Piece
...loaded 712,000 barrels of deodorized field condensate (DFC) from Qatar’s Ras Laffan at Dubai’s Jebel Ali on 5 March. This was the first such cargo since September 2017. Supplies of Qatari condensate for Enoc’s Jebel Ali splitter had been halted ever since due to the UAE’s participation in the embargo of...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Turkey Gas & Power: Pipelines, Black Sea Find, Nuclear & Renewables Give Ankara Options
...rkey. So it is perhaps not surprising that Russia, holder of the world’s largest gas reserves, has historically been Turkey’s top gas supplier. That said, the last two years have seen Russia’s market share fall to the two lowest figures on record. From a record 28.7bcm in 2017, half of Turkey’s total ga...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Saudi PIF Aims To Kickstart Kingdom’s Services Sector With ADES Buyout
...cused on Egypt. But the company has expanded since its 2017 listing on the London Stock Exchange. In 2018 it tapped $450mn in loans, including $125mn from the EBRD, for “expansion of ADES outside of its home market in Egypt via the purchase and refurbishment of rigs or acquisition of entities operating su...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Saudi Arabia Reaps Benefit Of Gas Supply Boost
...9,000 b/d were the lowest January figure since 2017. Fuel oil consumption, primarily for power and water desalination, averaged 401,000 b/d, which was down 200,000 b/d on December and also a four-year low. SAUDI ARABIA direct Crude burn (‘000 B/D) HAS STARTED THE YEAR AT LOWS NOT SEEN SINCE 2017...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Saudi Arabia Throws Down Gauntlet With Aggressive Expansion Targets
...rrels at the end of 2019 according to the most recent Jodi statistics (MEES, 21 February). This is a sizeable stockpile, but it is the lowest since 2013 and is less than half the record 329.5mn barrels that was reached in October 2015. Despite its stated aim since the start of Opec+ cuts in January 2017...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020 -
Egypt Upstream Spending Slashed With Oil Price ‘Disaster’
...w several go bust (MEES, 3 February 2017). With Brent prices having collapsed from $67/B at the start of 2020 to barely half this as MEES went to press, many smaller producers are slashing all but essential spending in a bid to keep their heads above water. One such firm is Canada’s Tr...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020 -
Global Inventories Set To Swell Amid Opec Showdown
...awdown of inventories that has taken place since 2017. The IEA and Opec released their monthly oil market reports this week, with both making sharp downgrades to demand growth expectations in light of the escalating Covid-19 pandemic (see tables). The IEA now sees demand contracting by 90,000 b/d th...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020 -
US Shale In The Time Of Lower Prices
...97mn b/d in March 2015 by mid-2016 production was almost 15% lower. But lower prices spurred a wave of cost cutting, and higher oil prices since 2017 have provided an extra boost (to put it mildly). By late 2017 output had topped 2015 highs. And it hadn’t looked back since. Until now. Latest pr...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020 -
Iran Boosts Uranium Upgrading As Domestic Problems Mount
...er 20mn t/y exported. This has likely fallen sharply since the US targeted major producer and exporter PGPIC (MEES, 14 June 2019). Crude and condensate exports averaged a record 2.66mn b/d in 2017 and hit 2.8mn b/d as recently as mid-2018 before collapsing later in the year with the imposition of US sa...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020