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Iraq Targets 1.54mn B/D Refining Capacity With Relaunch Of 150,000mn b/d Missan Plans
...pacity since 2017, when the country was struggling to cope with the aftermath of the 2014 destruction of its largest refinery, the 290,000 b/d Baiji complex, by Islamic State (MEES, 26 September 2014). Mr Sudani says the new refining additions are part of his government’s efforts to maximize the value de...
Volume: 68Issue: 14Published at Fri, 04 Apr 2025 -
Kuwait Debt Law Breakthrough: A New Era For Investment?
...ll enable the government to issue debt for the first time since the expiry of the previous financing and liquidity law (called the public debt law) in 2017” (MEES, 7 April 2017). The IMF put Kuwait’s debt at just 3.2% of GDP as of end-2023, and expects this to gradually rise to 25% by 2032 with th...
Volume: 68Issue: 14Published at Fri, 04 Apr 2025 -
Oman LNG Exports Soar To New Record Highs
...nfirmed. REVITALIZED GAS SECTOR The surge in Oman LNG exports is largely thanks to the resurgence of the sultanate’s upstream gas sector. The September 2017 start-up of BP’s 1bn cfd Khazzan tight gas development sparked its upstream gas sector and the second phase Ghazeer development brought capacity to...
Volume: 66Issue: 14Published at Fri, 07 Apr 2023 -
Israel Sees Gas Export Revenues Surge 58% To Record $2.3bn for 2022
...a. Deliveries begun way back in 2017 – until the start-up of Leviathan at the end of 2019 these were Israel’s only gas exports – and rose 6% to 18mn cfd for 2022. *But whilst Jordan may be a steady market in volume terms, it has outperformed Egypt in terms of price. Tamar earned a record $7....
Volume: 66Issue: 14Published at Fri, 07 Apr 2023 -
Leviathan To Turkey Pipeline Talk Resurfaces
...mietta or Idku and/or a floating LNG (FLNG) facility to be moored in Israeli waters next to the Leviathan platform, 10km offshore Dor (see map). Since tentatively starting in 2017 with minimal volumes to Jordan’s Arab Potash plant on the Dead Sea, Israel’s gas exports have risen meteorically. Exports we...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Mounting Debt Obligations Take Shine Off Of KRG Oil Revenue Boost
...ES, 21 January). Output dropped from 453,000 b/d in 2020 to 445,000 b/d last year, but gross oil revenues more than doubled to $9.12bn thanks to resurgent oil prices. This is the highest figure since the KRG brought Deloitte in to audit its oil sector in 2017 and began issuing quarterly reports. Gr...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Qatar’s Al Kharsaah Solar PV Plant Poised For Startup
...ES, 4 March). SIRAJ ENERGY: LEADING DIVERSIFICATION √ Siraj Energy was established in 2017 as a joint venture between state-run QatarEnergy (51%) and Qatar Electricity and Water Company (49%), with the aim of developing projects to...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Kuwait Cabinet Resigns, Again
...pacting the government’s ability to pass a much-needed debt law, reduce bloated spending, and diversify the economy away from oil reliance. On 4 April, local Kuwaiti Al Anbaa reported that finance ministry documents showed that since “the public debt law’s validity ended in October 2017,” Kuwait withdrew “ab...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
QP Expands In Namibia
...creasing overseas footprint, not to mention plans to massively expand its LNG capacity and increase its operating role of its LNG facilities (MEES, 5 April), QP is well on the way to achieving plans set out by Mr Kaabi in 2017 to turn QP into “an International Oil Company” (MEES, 8 December 2017). This wo...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Iraq Oil Revenues At Highest Level Since 2019 As Crude Tops $60/B
...tside the control of the federal government. The KRG’s exports from Ceyhan fell to just 360,000 b/d for March, Kpler data indicate, down almost 40,000 b/d on February and the lowest figure in three months. For Q1 as a whole KRG exports of 412,000 b/d were second only to 2Q 2020 as the lowest since 4Q 2017...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Israel Oil Demand Falls To 9-Year Low Amid Record Imports
...porting ‘banned’ supplies, especially if this can be achieved at a hefty discount. During Libya’s geopolitical chaos of 2016 and 2017 where factions competed to sell crude by any means possible, Israel took several cargoes. And volumes from ‘Egypt’ (with which Israel of course has diplomatic relations) ha...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Cairn Finalizes Mauritania Deal
...mmercial discovery, Frégate, in 2012-13 (MEES, 13 February 2013), Dana and UK-based partner Tullow Oil quit the acreage in 2017, only for Total to snap up Block C-7 later the same year. When announcing the original farm-in in March 2020, Cairn flagged up possible drilling targeting a turbidite fan play an...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Egypt: Draft 2021/22 Budget
....8bn) and set to be the lowest spending figure since 2017-18 as Cairo’s finances finally show signs of the impact of Covid-19 (MEES, 5 March). Subsidy allocations are down around 40% to E£87.8bn ($5.6bn) while the budget forecasts a deficit of 6.6% of GDP, up marginally from the 6.3% forecast in the cu...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Iraq Asks IOCs To Slash Spending As Export Revenues Halve
...cord 4.63mn b/d last year, due largely to its immense low-cost reserves. With things back to “normal” following defeat of the Islamic State insurgency in 2017, Baghdad eyed a massive overhaul of its energy sector, including several new refineries, revamped export infrastructure, production capacity in...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Firms In The KRG: How Low Can They Go?
...e return to regular, reliable payments in 2017, the slew of small firms focused on the region – including Norway’s DNO, London-listed firms Genel and Gulf Keystone; and Canada’s Oryx, Western Zagros and Shamaran – put together a strong run of form. Excluding the 2017 loss of 280,000 b/d Avana Dome an...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Specter Of Overbrimming Stocks Threatens Vulnerable Producers
...cord levels. Absent huge production outages in excess of those arranged by Opec+ during January 2017-April 2020 these stockbuilds will take more than a year to unwind. This will exert severe downwards pressure on any price gains into at least 2021. ...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Saudi Refinery Turnarounds Boost Crude Supply
...rch). Aramco’s 550,000 b/d Ras Tanura plant will be shut down for 5-6 weeks beginning 1 June as part of a $2.4bn clean fuels upgrade. which will enable production of Euro-5 specifications fuels from 2021 (MEES, 13 January 2017). The Satorp joint venture of Aramco and France’s Total shut down the re...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Egypt Cuts Oil Import Bill As Refineries Up The Pace
...ices (MEES, 11 October 2019). Demand for diesel peaked at 297,000 b/d in 2016 and has since fallen for three consecutive years to 271,000 b/d in 2019. Demand for gasoline has eased slightly since peaking at 170,000 b/d in 2017. But with gas now accounting for almost all thermal power generation in Eg...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Saudi Economy: Modest Diversification Efforts Face Bleak Outlook
...oject as it depends on the extent to which not just Saudi Arabia, but also themajor oil-consuming economies, are affected by Covid-19. However, it seems inevitable that it will be considerably sharper than 2017’s 0.7% contraction. The weak economic performance in 2017 was the key driver behind Ri...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Saudi Opens Iraqi Consulate
...Saudi Arabia has reopened a consulate in Iraq for the first time since 1990 as Riyadh advanced efforts to warm ties with Baghdad. Indications that Saudi Arabia was adopting a more conciliatory approach towards Iraq emerged in 2017 as the kingdom sought to woo its neighbor away from regional ri...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019