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Egypt Gas Burn Falls Despite Powergen Record
...imarily the three giant CCGTs:: capacity rose from 46.03GW at the end of 2017 to 57.05GW at end-2019 (see chart 3). Egypt’s total installed capacity is now 85% higher than the record peak load of 30.8GW hit in August 2018. However, much of the existing capacity is in aging plants that have suffered un...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
Saudi Products Exports Slump
...ports of 89,000 b/d. However, for January, this switched to net imports of 7,000 b/d. This marked the first time since May 2018 in which the kingdom was a net importer of the fuel. Moreover, the 383,000 b/d net exports of diesel was the lowest since January 2017. ...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
Egypt Refiners Hit New Highs
...tput (MEES, 24 January). Jet-kero output was a record 68,000 b/d in January, while at 173,000 b/d diesel was the highest since July 2011. Gasoline output was 98,000 b/d, down from December’s all-time high 103,000 b/d, while 87,000 b/d of naphtha was the highest monthly level since August 2017 (see ch...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
Oman Eyes Headline Projects To Move Up Oil & Gas Value Chain
...har refinery to 197,000 b/d (MEES, 17 February 2017). The plan also solves another of MOG’s main concerns: What to do with all its newly discovered gas? State-led Petroleum Development Oman (PDO; Oman 60%, Shell 34%, Total 4%, Partex 2%) announced the discovery of the (at least) 4.5tcf Mabrouk NE fi...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019 -
Israel Firm Eyes Groundbreaking Egypt Upstream Entry
...0,000 barrels of oil storage capacity: enough for Phase-2 tie-back of output from 1.2tcf Tanin field 40km away should additional sales deals be secured. The Greek firm was also awarded five blocks (12, 21, 22, 23, 31) following 2017 bidding, that fall to the south and southwest of Karish, adjacent to...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019 -
Egypt Awards Fertilizer EPC
...p during 2013-16 that saw fertilizer plants shut down because of a lack of gas feedstock. They only began receiving full allocations of gas again in early 2017 (MEES, 19 May 2017). El Nasr currently operates one gas-fueled fertilizer plant at Suez, with capacity to produce 132,000 t/y ammonia, 20...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019 -
Opec Slams US Sanctions For Heightened Instability
...Opec+ with the capacity to open the taps to do so. SAUDI AND RUSSIA ON THE SAME PAGE? Russia certainly appears to be more hesitant over the benefits of continuing the Opec+ agreement, but then that is largely in line with the past two and a bit years (MEES, 1 December 2017). Russia’s sl...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019 -
Saudi Liquids Burn Edges Up, More Rises To Come?
...ril being 100,000 b/d below March. They are going to match the lowest in 2017-18.” That low was 9.91mn b/d in December 2017, so Saudi Arabia may in fact be cutting significantly below 2017 levels. This would be a massive fall of around 500,000 b/d from January production of 10.29mn b/d (10...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019 -
Sabic Reorganization Continues Ahead Of Planned Aramco Takeover
...rformance for 2018 was the best since oil prices crashed in 2014. Sabic made a profit of $5.73bn in 2018 on revenues of $45.1bn, figures which were respectively 17.0% and 12.8% up on 2017, though prices for Saudi Arabia’s key Arab Light crude were up even more at 33.5% (MEES, 1 February). SABIC OUTPUT TO...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019 -
Algeria’s Economic Sclerosis: Political Change Is Not Enough
...2017. ^INCLUDES VOLUMES TO SPAIN AND ITALY. TURKEY AND FRANCE HAVE BEEN ALGERIA'S TOP TWO LNG CUSTOMERS SINCE 2015. SOURCE: JODI, IEA, CORES, SNAM, SONELGAZ, OPEC, MEES ESTIMATES & CALCULATIONS. SCLEROTIC MODEL Prices for Algeria’s light sweet Saharan Blend crude averaged $110/B for th...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019 -
Spain 2018 Gas Imports: Record 19.5bcm From Algeria But Volumes Slide In Q4
...rope (GME) pipeline handled 9.3bcm, up 21% on 2017, whilst the 8bcm/y-capacity Medgaz pipeline handled 7.1bcm, up 6% year-on-year. But Algerian LNG volumes fell to a multi-decade low of 1.5bcm, just 8% of Algerian supplies. Overall, LNG volumes comprised 43% of Spain’s 2018 gas imports. *Wh...
Volume: 62Issue: 12Published at Fri, 22 Mar 2019 -
Algeria Struggles To Maintain Gas Output Amid Project Delays
...les gas output hit 94.5bcm for 2017, only just behind 2016’s record 94.8bcm (MEES, 2 March). But gross wellhead output has actually been in decline since the start of the decade: falling from 146bcm (of which 42% reinjected) in 2010 to 128.5bcm (of which 26% reinjected) in 2016 (see chart). Though gr...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Qatar Presses Ahead With Major LNG Expansion
...ES, 8 December 2017). When the initial expansion was announced in April, and then doubled in July (MEES, 7 July 2017), QP was contemplating securing gains through a mix of debottlenecking existing facilities and constructing new LNG trains. However, the finalized plan relies entirely on new fa...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Abu Dhabi Fills Up Two Largest Post-Adma Concessions As Total, CNPC Dive In Offshore
...its official press release title the “strengthening ties with world’s number one oil importing country.” This was the same rationale behind last year’s deal with CNPC and controversial fellow state-firm CEFC for a combined 13% of Adnoc Onshore (MEES, 24 February 2017). CHINA VOLUMES SI...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Total Reasserts Position As Dominant IOC In Mena On Back Of Abu Dhabi Deal
...some 150,000 b/d less (MEES, 16 March). Abu Dhabi is the single largest source of oil in Total’s portfolio, so walking away from the Adma concession after its 8 March expiry would have been a major blow. At 278,000 b/d in 2017, Abu Dhabi provided 20% of Total’s total output, making it by far th...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Shell Nears Iraq Exit As Itochu Takes WQ-1 Stake
...ocessed a record 676mn cfd gas from three giant fields in 2017 (MEES, 16 March). ...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Shell Recommits To Egypt With Plans To Double Offshore Output
...rt of its takeover of the UK firm at the start of 2016 From 1.2bn cfd as recently as 2012, WDDM output fell to just 526mn cfd for the 2016-17 Egyptian financial year (to June 2017) and to 486mn cfd for the second half of 2017. Shell’s net Egypt gas output fell to just 335bn cfd for 2017, with the WD...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Saudi Products Exports Smash Previous Records But Set For Dip
...ports as products are generally less scrutinized than crude. Saudi Arabia exported a record 1.91mn b/d of products in January smashing October 2017’s previous record of 1.59mn b/d. The products share of the kingdom’s total oil exports, at 21.1%, was also a record, whilst volumes of diesel (80...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
IOCs Advance In KRG, Cautiously
...tentially paves the way for expedited stand-alone development of the field’s 37mn barrels (2C) oil reserves. Oil reserves are modest, but additional production would be warmly welcomed by the KRG in the wake of last October’s loss of 280,000 b/d Kirkuk output (MEES, 20 October 2017). Especially given th...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Dana Egypt: No Cash, No Work
...$228mn from $265mn a year earlier. But all of this fall, and then some, was achieved in the first half of 2017 – the figure stood at $189mn as of June 2017, a seven-year low. For the second half of the year “payments from Egypt were sporadic and disappointing,” Dana CEO Patrick Allman-Ward sa...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018