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Egypt Power Fuels Number Crunching: Record Gas Output, CCGT Capacity Sees Collapse Of Liquids Burn
...EGYPT’S POWERGEN CAPACITY LEAPT 19% TO A RECORD 55GW AT END-2018 BOOSTED BY THREE CCGT PLANTS TOTALING 14.4GW*. BUT POWER GENERATED ROSE ONLY SLIGHTLY TO 194TWh FOR 2018 2018 MONTHLY GENERATION (TWh) NEVER TOPPED THE JULY 2017 RECORD OF 20.3TWh THE START-UP OF NEW CCGT CA...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Israel Oil 2018 Data: Gasoline Imports At Record On Refinery Outage
...62mn tons (77,000 b/d) or 2017, a year that saw renovation, a strike and a fire at one of its diesel units (MEES, 1 September 2017). Paz increased its crude throughput capacity from 4.5mn tons (90,000 b/d) in late 2013 (MEES, 29 August 2014). *But overall, the gains at Paz were not enough to make up...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Iraq’s Downstream Dreams: Back To Square One?
...llowing the Islamic State insurgency in 2014 (MEES, 28 September 2018). Current output stands around 30,000 b/d, with trucked export volumes hitting 23,000 b/d in March. Despite suffering reservoir damage during the Islamic State’s retreat in 2017, the ministry says production could reach 60,000 b/d; So...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Battle For Tripoli Rages On
...rgoes from Libya in the first quarter. In 2018, Libya at 27% was the largest single crude supplier to OMV refineries, taking the crown from Romania, which accounted for 22% in 2017. LIBYA CRUDE OUTPUT REBOUNDS TO 1.1MN B/D IN MARCH ON EL SHARARA RESTART (MN B/D) SOURCE: MEES. ...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
UAE’s Mubadala Sells Cepsa Stake To Investor Carlyle
...id €3.97bn for the remaining 52.95% in 2011. IPIC was then merged into Mubadala in 2017 (MEES, 24 February 2017). This left Cepsa sitting alongside a host of other energy-focussed Mubadala investments, including its subsidiary Mubadala Petroleum. Holding two wholly-owned energy entities with se...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Oman Gas Bonanza Continues As Total Signs Up To Key Mixed Status Deal
...d for good reason. BP’s ‘mixed status’ Block 61, home of the 1bn cfd Khazzan gas project, has triggered a massive rethink of Oman’s gas sector since starting up in late 2017 (MEES, 29 September 2017). Muscat subsequently managed to bring Petronas on board at Khazzan (MEES, 26 October 2018), in ad...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Egypt’s Molla Promises Record Gas Exports, Damietta Restart
...Thanks to Zohr, Egypt has gone from a major LNG importer in 2016 and 2017 to exports averaging 540mn cfd (9% of output) for October-January. Oil minister Tarek El Molla says volumes have since risen further to 1.1bn cfd. Whilst the latest boost is due in part to demand bottoming out in Ma...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Egypt ‘Zohrs’ Past Libya As Eni’s Top Gas Producer
...tput rose throughout 2018 as Zohr ramped up hitting a record 6.65bn cfd in February (see chart, p19). Having been a major LNG importer in 2016 and 2017, Egypt has again swung to being a net exporter since last October, since when there have been no LNG imports (see box). Zohr production hit its in...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Eni Plans For Libya Output Drop
...are of overall oil and gas output. The firm reported net oil and gas production in Libya of 270,000 boe/d in 2010, falling to around 230,000 boe/d in 2013-14. But the past three years have seen an increase in Eni's reported net output, to around 350,000 boe/d in 2015-16 and 374,000 boe/d in 2017. It's po...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Reserves At Eni’s Zohr: 30+Tcf?…Just 4? Maybe 6?
...porters who dutifully write up the figures as if they refer to higher-value oil). And it is highly unorthodox that Eni has gone from August 2015 discovery of the “super-giant” Zohr field in the Egyptian deepwater Mediterranean, through the development phase, to first production in December 2017 whilst on...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Global Drilling Returns To 3-Year High In 2018, Mideast Activity Strong
...The rising tide of high oil prices is spurring upstream activity in the Middle East. The region’s rig count averaged 405 in 1Q 2018, just shy of the record 406 posted in 3Q 2017. Brent averaged $67.22/B in the first quarter, against $61.46/B in the final quarter of 2017. Interestingly, th...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Indian Oil Enters Oman
...ckdated to 1 January 2017, the transaction marks Indian Oil’s second splash in the region in less than two months after a consortium including Indian state firms ONGC Videsh and Bharat PetroResources paid a $600mn signing bonus for 10% in Abu Dhabi’s 360,000 b/d Lower Zakum concession in earlier this ye...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Qatar Seeks Greater Foreign Investment In Energy Sector State-Led Firms
...change’s (QSE) investor base and boost liquidity. QSE has taken a substantial hit from the political upheaval since Saudi Arabia, UAE and Bahrain broke off ties with Doha in June 2017. It lost more than 20% of its value between then and end-2017. It has recovered slightly to around 9,000 points, which is st...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Geopolitics Roils Oil Market as Opec seeks Balance
...ncerns. GLOBAL OIL* STOCKS: OPEC, IEA DATA IMPLIES MAJOR DRAWDOWNS IN 2H 2018 *CRUDE + NGLS. SOURCE: IEA, OPEC, MEES. OPEC SUPPLY & DEMAND FORECASTS, APRIL 2018 (MN B/D) 2016 2017 vs'16...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Iraq’s Looming Elections Delay Critical Infrastructure Development
...ich are in good condition, but inadequate onshore infrastructure prohibits these from pumping at full capacity to enable the SPM’s to export a combined 3.6mn b/d. IRAQ: SOUTHERN CRUDE EXPORTS, AT RECORD SINCE LATE 2017, TO OFFSET NORTHERN OUTAGES (MN B/D) SOURCE: SOMO, MEES. IR...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Aramco Strides Towards Global Downstream Transformation
...els and petchems markets. “Investing in India is a key part of our company’s global downstream strategy,” says Aramco chief executive Amin Nasser. The project will enable Aramco to expand beyond its roles as a key crude supplier to India - Saudi Arabia exported 717,000 b/d of crude to India in 2017, al...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
UAE’s Nuclear Power Mirage Slips Further Away
...The UAE’s Federal Authority for Nuclear Regulation (FANR) appears no closer to awarding an operating license for the country’s first nuclear power plant, with slippage to 2019 or beyond looking likely. Construction of the Barakah-1 plant was completed in May 2017, but the unit is still aw...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Iran Unifies Exchange Rate In Last Resort To Halt Plunging Rial
...om $59bn in 2017 to $72bn in 2018. ...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Lebanon: Can Donor Conference Success Right The Ship?
...rkish ‘power ships’ producing around 370 MW from fuel oil, and nix plans to tender another two power ships for 800 MW. A shift from fuel oil toward gas-fired plants would also ease the eventual transition toward domestically produced gas, should offshore exploration efforts pan out (MEES, 15 December 2017...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Crude Official Selling Prices ($/B): Saudi Arabia Raises Key Arab Light To Asia Prices
...*VS ICE BRENT FROM JULY 2017 PREVIOUSLY VS BWAVE. SAUDI ARABIA LPG ($/T) Propane 480 430 385 385 345 420 480 575 575 590 590 525 48...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018