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Egypt: Key West Nile Delta Project Set For Start-Up
...an [in] the summer,” Mr Dudley told the firm’s 7 February Q4 earnings call. “The wells in the Taurus and Libra fields are close to coming onstream. Production in West Nile Delta is scheduled for the second quarter of 2017,” RWE says. The Taurus and Libra fields constitute the 600mn cfd Phase 1 of th...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Algeria Keeps Oil Spending Flat, Extends Exploration Search Offshore
...Algerian state oil firm Sonatrach has announced an eye-catching $50bn planned five year upstream spend for 2017-21. The figure is a slight increase on that for the most recent five-year plan, but a significant reduction compared to previous years. Once plans to spend about $5bn/year do...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Ta-Ta Taq Taq: Demise of Key Kurdish Field Weighs On KRG Exports
...port blend in February, it will still have grown heavier over the past year. KRG output averaged around 543,000 b/d last year and despite the Taq Taq woes, the KRG ought to exceed this in 2017, if only because a February-March 2016 pipeline outage hit last year’s figures. Absent similar outages th...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Kuwait Refinery Shuts, New Capacity Delayed, Crude Exports To Rise
...til the start-up of the country’s ambitious $12bn ‘clean fuels project’ refinery expansion and upgrade plans. But this in turn has been pushed back from 2017 to 2018-19, and even the latter timeframe may prove ambitious. KNPC brought forward the Shuaiba shutdown after a series of unscheduled ou...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Rosatom Starts Work On New Iran Nuclear Plant, Cementing Russia’s Mena Presence
...24 1.0 2 5.5 Rosatom building. Work started Mar 2017 Planned: Iran Bushehr-3 20...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Americas To Asia Crude: In It For The Long Haul
...at 2017 sees the acceleration of a trend already in effect in 2015 and 2016 of increasing Americas crude volumes washing up in Asia. China has been the key pioneer in this regard. Venezuelan crude long dominated regional supplies to China as the country sought to keep up with ‘repayments’ on ever-in...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Libyan Oil Output Gains Go Into Reverse Amid Growing Instability
...the field were ongoing. Third Force members wrote to NOC warning them that uncontrolled militia would threaten the Sharara pipeline, Libya Herald reported. LIBYAN GAS EXPORTS (MN CFD)*... VOLUMES STARTED 2017 STRONGLY, FELL IN LATE JANUARY, AND COLLAPSED TO JUST 110MN CFD ON 28 MARCH *AL...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Hungary’s Mol - Mena Profile: No More Chasing Barrels
...ins’ made so far have come from squeezing engineering and oil field service firms – these firms at least view this as unsustainable (MEES, 3 February). Mol feels the majority of its cuts are sustainable, however, and will help propel the firm to a similarly successful 2017. “We started to take a lo...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Aramco’s Tax Slashed To Boost IPO Valuation
...ovided long-awaited transparency on an issue that will have critical importance in determining the success of the 5% share listing of Aramco scheduled for late-2018. The new rate is effective retroactively from 1 January 2017. As well as income tax, Aramco currently pays a 20% royalty on revenue, a fe...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Saudi Wealth Fund Eyes $3bn Jordan Investments
...EMPLOYMENT Following a mission to Jordan in mid-March, the IMF noted that the conflicts in Syria and Iraq continued to weigh on the Jordanian economy, with growth expected at around 2% in 2016 and unemployment rising to 15.3%. But it expects that growth will pick up modestly in 2017, driven by a moderate re...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
Saudi: Key Gas Start-Ups Increase Oil Field Flexibility
...wec) Oil 0.16 2016 Shuqaiq (SEC) Oil 2.64 2017 PP13 (SEC) Gas 1.65 2017...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Egypt Advances Refinery Upgrades As It Looks To Curb Record Fuel Imports
...finery $mn Project KB/D 2016: Assiut 25 Vapor Recovery (LPG) 3.9 2017: Suez 36.5 Vapor Recovery (LP...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Qatar Starts Construction Of 2.5GW Power/Desalination Plant, Eyes Solar Venture
...da said the project would be phased: “The first phase will be completed by the second quarter of 2017, with capacity to produce 40mn gal/day [180,000 m3/d] of water. The project will reach full capacity in the third quarter of 2018.” CAPACITY PLAN QEWC managing director Fahd al-Muhannadi told re...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Oman Output Set To Keep Edging Up
...portedly slated for investment in the BP-operated (60%) Khazzan gas field (OOCEP 40%). Khazzan’s 1bn cfd capacity Phase One is due to deliver first gas in late 2017. BP and Oman reached a preliminary agreement in February to expand the project to 1.5bn cfd under a second phase, envisioned to come onstream in...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Eni Follows BP, Chevron, QP In Looking To Strike Big On Morocco’s ‘Atlantic Margin’
...ep-pocketed partner. Chariot CEO Larry Bottomley now says that “we anticipate [drilling] to occur in 2017…subject to the relevant approvals, well planning and securing a drill rig.” Eni makes no mention of specific drilling plans, merely talking of “the prospect of finding liquid hydrocarbons.” Ch...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Egypt Unveils Development Plan To Revive The Economy
...YPT’S 2016-2019 DEVELOPMENT PLAN: KEY OBJECTIVES • Raising GDP growth to 5-6% by end fiscal 2017-18 (June 2018) and to 6% thereafter. • Cut unemployment to 10-11% by 2017-18 and 9% by 2019-20. • Cut the budget deficit to 9-10% of GDP by 2017-18, and to 8-9% by 2019-20. • Cut pu...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Iran-Pakistan Trade Boost But Gas Line Still Far Off
...e risk of sanctions being re-imposed, “we are working on it. There is no serious problem and we are going ahead with the pipeline from Gwader to Nawabshah.” He estimated it could be completed by December 2017. One positive development for Iran is that Pakistan is to increase the amount of el...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Adco Trail Goes Cold Amid Stand-Off With BP, Shell
...pected to rise to at least 180,000 b/d from 2017, when Adco’s total production reaches a long-standing target of 1.8mn b/d. Total’s head of Middle East and North Africa operations, Stephane Michel, told MEES in February that the length of the concession and the improved per-barrel fee, reported to ha...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Oman Awards Salalah-2 BOO Contract To Mitsui/ACWA
...pacity throughout the country. In the larger Main Interconnected System (MIS), OPWP is tendering for 2.6GW of capacity “across two sites” to start up in 2017-18 (MEES, 29 August 2014). In the isolated northern Musandam exclave, where Oman’s Rural Areas Electricity Company (Raeco) operates 290MW of di...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Gas Shortages Send Algeria Back To The Steam Age
...62 bcm. And, not only is gas output stagnant, Algeria also has ambitious petchems plans. In view of of the worsening gas supply crunch, Algeria has opted for steam turbines for the additional 3.32GW of capacity it now says will be needed for 2017. The choice of technology indicates that Al...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015