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Israel’s Gasoline Thirst Pushes Oil Products Consumption To 5-Year High
...tput exceeded demand by 46,500 b/d in 2017, down on the previous year’s 58,300 b/d and less than half of 2014’s 95,300 b/d. Bazan says 67% of its refined products are sold on the domestic market while 33% is sold to mainly Turkey and Cyprus which took 31% and 24% respectively of exports in 2017. These pr...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Israeli Gas Development: Can The Domestic Power Market Absorb It?
...soil consumption falling to around 10,000 b/d (1% of demand) since 2014 (see chart, and data, p9). But perhaps the best chance of Noble snagging additional domestic gas customers is from industrial end users. Here demand has been limited by supply with a number of gas-fired industrial projects po...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Gulf Bonds In 2018 Another Bumper Year?
...sued in primary market deals in 2017; until 2014, the biggest buyers of Middle Eastern bonds were the local banks buying mainly for their asset and liability management (ALM) books, with almost 80% of the bonds issued being held by local banks’ ALM books, small family offices and local private bank cl...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Egypt: Key West Nile Delta Project Set For Start-Up
...r field (see box) and the rapid ramp-up in output at Eni/BP’s Nooros in the shallow waters of the Nile Delta to 875mn cfd within six months of July 2016 start up, should boost Egyptian gas production over 5bn cfd by Q3 for the first time since January 2014. February output was 4.41bn cfd (MEES, 24 Ma...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Algeria Keeps Oil Spending Flat, Extends Exploration Search Offshore
...wnstream are added in, the total spending program comes out at about $75bn. Sonatrach’s headline figure for its 2016-20 five-year plan was $73bn, but for 2015-19 it was $90bn and for 2014-18 it was $100bn (MEES, 17 February). Sonatrach upstream VP Salah Meknouche made the most of what was essentially a sp...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Ta-Ta Taq Taq: Demise of Key Kurdish Field Weighs On KRG Exports
...15 2014 Tawke 110.0 2.7 107.3 135.2 91 Taq Ta...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Kuwait Refinery Shuts, New Capacity Delayed, Crude Exports To Rise
...na Abdullah EPC contract it is undertaking with Samsung Engineering and CB&I (MEES, 14 February 2014) will not be complete until the very end of 2018. Both the CFP and Al-Zour projects were held back for many years by disputes between government and parliament. The award of construction contracts ca...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Rosatom Starts Work On New Iran Nuclear Plant, Cementing Russia’s Mena Presence
...Construction at Bushehr began just before Iran’s president visited Moscow where he signed several deals including one for Russian nuclear fuel. Russian state nuclear firm Rosatom has begun building its second reactor at Bushehr on Iran’s Gulf coast under a 2014 agreement. Both parties ap...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Libyan Oil Output Gains Go Into Reverse Amid Growing Instability
...rce. The Third Force wrested control of the Sharara oil fields from Tebu and Zintani members of the local Petroleum Facilities Guard in November 2014. There were reports in March that the Third Force had withdrawn from the region, but an LNA spokesman said in late March that negotiations over control of...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Petrofac Becomes Yet More Dominant In Kuwait
...d-2020. GC-32 will “have the capacity to produce around 120,000 b/d of oil per day together with associated water, gas and condensate” according to Petrofac. The initial Feed contract was completed in December 2014 by Amec Foster Wheeler, but Kuwait delayed putting the key EPC contract to tender. Ac...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Hungary’s Mol - Mena Profile: No More Chasing Barrels
...Hungarian integrated oil firm Mol has had to reshape its upstream operations in light of the 2014 oil price crash. Upstream Executive Vice-President Dr Berislav Gaso tells MEES how it has slashed production costs and that despite setbacks, Mol still sees the Middle East as important. Hu...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Saudi: Key Gas Start-Ups Increase Oil Field Flexibility
...les gas. The high sulfur content contributed to delays in bringing the projects to fruition (MEES, 7 November 2014). Production from the two non-associated gas fields was initially slated for 2014, but the Arabian Sun comments indicate it is finally ready to begin. Aramco CEO Amin Nasser told the ma...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Kuwait Oil Sector Receives Triple Boost
...ich shares the PNZ with Kuwait, to begin limited production at the offshore 300,000 b/d Khafji field. Khafji is jointly operated by Kuwait Gulf Oil Co (KGOC) and Aramco Gulf Operations. Prior to Saudi Arabia unilaterally halting production in October 2014, ostensibly over environmental concerns, pr...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Israeli Court Ruling Pushes Leviathan Back Further
...om the field and seek arbitration. Israel’s upstream sector has been stuck in stasis since the end of 2014 when the former antitrust commissioner ruled that Noble and Delek were operating as a monopoly offshore Israel (MEES, 2 January 2015). The two firms currently operate all of the country’s ke...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Iraqi Downstream Data Highlights Deep Baiji Impact
...Iraqi refinery throughputs have been stuck at just over 400,000 b/d since the 310,000 b/d Baiji plant, the country’s largest, was overrun by Islamic State (IS) jihadists in June 2014. Though the plant was retaken by government forces in October it was badly damaged (MEES, 13 November 2015). No...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Abadi Surprises By Choice Of Left-Field Kurd As Oil Minister
...onomy and is producing more than 4mn b/d. Low oil prices mean it is strapped for cash and asking international oil companies (IOCs) to cut spending, yet still looks to boost production by 2mn b/d by 2020. Oil revenues slumped from $84.1bn in 2014 to just $49bn last year. Despite record exports, mo...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Oman Output Set To Keep Edging Up
...come a frequent buyer. EXPORT REVENUE SINKS Tumbling oil prices mean that revenues fell by more than 40% last year according to the National Centre for Statistics and Information (NCSI). Oil and gas sales generated OR13.4bn ($34.7bn) in 2014, but just OR7.8bn ($20.15bn) last year. Non-oil revenue fe...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Eni Follows BP, Chevron, QP In Looking To Strike Big On Morocco’s ‘Atlantic Margin’
...ock’s prospects may be substantive. Australian LNG-focused Woodside took a 25% stake last year – the firm’s sole interest in the MENA region alongside a 100% share in the Rabat Ultra Deep ‘reconnaissance permit’ yet further offshore (MEES, 28 November 2014). Stakes are now Eni 40% operator, Woodside 25...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Egypt Unveils Development Plan To Revive The Economy
...nance development projects on the Sinai Peninsula (MEES, 25 March). Gulf countries have been keen to give their assistance to Egypt following the 2013 ouster of former President Muhammad Mursi and have pledged more than $20bn in aid and products since March 2014. Mr Isma’il urged parliament to co...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Iran-Pakistan Trade Boost But Gas Line Still Far Off
...initiate work on its side." Pakistan was to import 750mn cfd (8.2 bcm/year) of Iranian gas from December 2014, but Pakistan claims that nuclear-sanctions on Iran prevented it from raising project finance. With Iran now released from the majority of sanctions, prospects for completion appear to ha...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016