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Saudi Eyes Tankers For LNG Trading Boost
...s in talks with Qatar over importing from the emirate (MEES, 8 December 2017). ...
Volume: 62Issue: 13Published at Fri, 13 Dec 2019 -
Aramco’s $69.1bn Sabic Takeover Refuels PIF Ambitions
...presents an expansion from 2017’s 14.6mn t/y capacity. The 2017 total fell to 9.9mn t/y when excluding intermediate products (MEES, 24 August 2018). As for Sabic, 2018 petchems output totaled 61.6mn t/y of which up to two-thirds are intermediate products (MEES, 22 March). Even at 20mn t/y, this would still be...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Oman Eyes $3.85bn Sri Lanka Refinery Project
...ES, 22 March). After upgrading the Sohar refinery to 197,000 b/d in 2017 (MEES, 17 February 2017), Oman is now pushing on with the $8bn Duqm refinery which will add an additional 230,000 b/d. A separate petrochemicals complex at Duqm is also slowly beginning to push forward – though construction is so...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
2018 US Crude Exports Double; New Monthly High In Jan
...e US, up more than fourfold on 2017 but still well behind China (249,000 b/d) as the US’ top Asian customer. *Korean buying from the US (and other long-haul sources such as the North Sea) has been boosted by a tax break on imports of non-Mideast cargoes in a bid to diversify the country’s import sl...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
GCC Downstream Giants Eye Revolutionary Plastics Technology
...mmercialize one of them. Sabic had patented a process to produce chemicals directly from crude using existing downstream units in a new configuration (MEES, 1 December 2017). However, Aramco took a more revolutionary route by developing new technologies. Besides squeezing more out of its resources, Aramco ch...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Egypt Solar Capacity To Soar In 2019 With Benban Boom
...ansmission line 12km east of the park. In addition, Substation-3 will also be directly linked to a 500kV overhead transmission line which runs just 500m east of the park. 2017 saw work on only one plot (5-1) of the 37.2 km2 park being built in the desert 40km north of Aswan. Egypt’s Infinity Solar says it...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Israeli-Arab Relations Under The Spotlight As Leviathan Start-Up Nears
...bassy in Amman shot and killed two Jordanians in 2017 saw Israel’s embassy close for six months (MEES, 19 January 2018). And US President Trump’s recognition of Jerusalem as Israel’s capital in late 2017 made matters even worse. Israel’s poor handling of security at Al Aqsa mosque, of which Jordan is te...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Senior UAE Official Calls For Israeli Dialogue
...iticism of “subversive Qatari politics and support for extremism and terrorist organizations” in the wake of the June 2017 GCC rift (MEES, 9 June 2017). His views on the UAE’s neighbor haven’t softened over the past two years....
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
…Keeps Israel Steady
...ficit widened from 1.9% of GDP in 2017 to 2.9% last year and Fitch forecasts it to widen even further to 3.5% of GDP in 2019 before narrowing to 3.0% in 2020. “Israel’s macroeconomic performance has been impressive and the economy remained buoyant in 2018, with real GDP growth of 3.3%, low un...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Qatar Establishing Shariah-Complaint Energy Bank
...nancing, and that this will be progressively scaled up to the targeted $10bn. The institution will provide financing to energy projects both overseas and domestically. Despite being subject to an economic embargo by neighboring states since June 2017, Qatar shows no sign of reigning in its hydrocarbon-ba...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Saudi China Volumes Surge
...n b/d, a level never before breached, culminating in a record 2.13mn b/d in January (the latest available data, see p6). CHINA’S TOP 4* CRUDE SUPPLIERS: SAUDI ARABIA CHALLENGES RUSSIA FOR No.1 SPOT (‘000 B/D) *BASED ON 2018 (& 2017) VOLUMES. BRAZIL, WITH 1.04MN B/D, WAS AHEAD OF IRAQ FOR JA...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Oman: Struggling To Cope With Too Much Gas?
...ock 61 (BP 60%, state Oman Oil Company 40%) started production in September 2017 and hit full Phase-1 output of 1bn cfd earlier this year. MEES estimates this will boost Omani gas output by 20% in 2018 (MEES, 29 September 2017). BP this month took a final investment decision (FID) on the 500mn cfd Ph...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
LNG: Mideast Producers Lose Share Amid Record Global Trade
...ough, with imports of 8.29mn tons for February. • LNG powerhouse Qatar supplied a record 3.85mn tons to the East Asian ‘big three’ in January, though this dipped to 2.99mn tons in February. But Austraila has become increasingly dominant as the top supplier to East Asia in recent years. In 2017 it su...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Iran Looks To Europe As Trump Fears Threaten Embattled Economy
...eks, have exacerbated concerns over Iran’s economic outlook. The economy was already struggling, with latest figures from the CBI for the first 10 months of the 2017-18 Iranian year (ie March 2017-January 2018) implying that Iran was on course to run a $12.2bn deficit. This is up a huge 27% on the pr...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
US Imposes Oil Restrictions On South Sudan
...geria’s Oranto Petroleum. Oranto signed a concession agreement for Block B3 in March 2017 in which it pledged to invest $500mn in exploration work (MEES, 5 May 2017). Also placed under licensing restrictions is Russia’s downstream oil contractor Safinat, contracted prior to the onset of war to build a 7,...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Qatar & Sudan Deepen Ties
...lationship following Qatar’s mediation role in the Darfur conflict, which resulted in the 2011 Doha Document for Peace in Darfur. And Qatar is in need of friends having faced a regional embargo since June 2017. The main players in the Qatar dispute are Saudi Arabia, the UAE, Bahrain and Egypt. Khartoum ha...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Israel’s Gasoline Thirst Pushes Oil Products Consumption To 5-Year High
...• Israel fell into a gasoline deficit for the first time in at least 10 years in 2017 as consumption rose to a record 75,300 b/d whilst domestic output from the country’s two refineries fell by 11% to 73,900 b/d. • Bazan, which operates the 197,000 b/d Haifa refinery, says that it expects th...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Israeli Gas Development: Can The Domestic Power Market Absorb It?
...e country’s most recent bid round. All are close or adjacent to Karish and Tanin (MEES, 15 December 2017). The reference to liquids storage capacity is particularly eye-catching given that Israel has no current oil production and that there has been no extended production test at Karish. That sa...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Gulf Bonds In 2018 Another Bumper Year?
...After issuing a record $50.5bn in international bonds in 2017, GCC sovereigns are poised for another bumper year despite rising oil prices easing fiscal pressures. GCC sovereigns raised a record $50.5bn in international bonds in 2017, smashing 2016’s previous record of $37bn, according to...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018 -
Crude Official Selling Prices ($/B)
...Crude Official Selling Prices ($/B) *VS ICE BRENT FROM JULY 2017 PREVIOUSLY VS BWAVE. ...
Volume: 61Issue: 13Published at Fri, 30 Mar 2018