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Benchmark Crude Prices ($/B)
... 12Apr 2-6 Apr 26-29Mar Mar18 Feb18 Q1 2018 Q4 2017 Q3 2017 2018 (>12Apr) 2017 2016 2015 WTI 67.07 63.10 65.03 62...
Volume: 61Issue: 15Published at Fri, 13 Apr 2018 -
Israel: Lots Of Gas But Where’s The Market?
...nceptual development plan released in March says it has completed the engineering feasibility study and is targeting FID by the end of 2017. “Base case is a gas FPSO with gas pipeline to shore and offshore liquids offloading. Energean’s intent is to execute the project via an established deepwater co...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Gas Ousting Coal
...%. ISRAEL ELECTRIC CO^ FUEL MIX (%) 2017 FORECAST PRESUMES 20% PLANNED RISE IN GAS USE IS HIT WHILST OIL BURNING IS ENDED. ^IEC ACCOUNTS FOR 72% OF ISRAELI GENERATION CAPACITY. SMALLER GENERATORS ARE SOMEWHAT MORE RELIANT ON COAL. SOURCE: IEC, MEES CALCULATIONS....
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Oman LNG Records Rare Output Rise, But Revenue Falls Regardless
...cent levels. Any continued recovery, and there has been in the first two months of 2017, is likely to be relatively modest. Slow demand growth and the onset of fresh supplies from competitors such as Australia will extend the current supply glut for the next few years. EXPORT DESTINATIONS IN...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Oman, Kuwait Sign Multi-Billion Refinery Deal
...ll be awarded in the next two months and that the foundation stone for the project will be laid at the end of 2017. UK’s Amec Foster Wheeler completed front end engineering design for Duqm refinery recently, while DRPIC has completed prequalification and invited bids for the EPC work. Mr Zedjali sa...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Record US Oil Trade Belies Protectionist Rhetoric
....30mn b/d were only just below the four-year high of 10.34mn b/d set in Q3 last year. All this means that gross US oil trade – imports plus exports – hit a massive record of 16.24mn b/d. The equivalent a full 17% of the world’s oil output in the first three months of 2017 was either imported to or exported fr...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
BP Poised For Strong Year In Mena
...BP had a mixed 2016 in Mena with liquids output edging up while high natural decline rates at its Egyptian gas assets saw overall gas output fall. But with key startups set for the second half of the year and BP’s return to Abu Dhabi’s onshore, 2017 is set to be a major year. Recent years ha...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Shifting Sands: Saudi Arabia’s PIF’s Changing Strategy
...o months of 2017. As the world’s biggest energy user, China is growing more reliant on crude imports. Economic growth has spurred higher demand, and falling domestic production has exacerbated the need for imports. The IEA projects demand to grow 340,000 b/d in 2017, in line with last year’s gr...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Kuwait Bullish On Contract Award, But Quietly Shelves Production Target
...e p10 and MEES, 1 April). While production capacity is planned to rise to 3.165mn b/d by March 2017 according to Mr Jafaar, officials maintain that production will remain flat. This implies that Kuwait does not foresee full production from the currently shut in Partitioned Neutral Zone (PNZ) wi...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Egypt: Receivables Worries Risk Choking Off Exploration Boom
...dependent Petroceltic’s 50% stake in both (MEES, 19 February). The commitment for North Thekah is $170mn with two wells (MEES, 3 January 2014). No wells have yet been drilled on either block, though Edison recently said it “plans drilling North Thekah towards the beginning of 2017. We would consider dr...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Aramco/Sabic Make Up With Plan For Joint Oil-To-Chemicals Project
...nuary). Last week Prince Muhammad said that he is pushing for the Aramco IPO in 2017, and that while less than 5% equity will be offered in Aramco and its subsidiaries, Aramco’s shares will first be transferred to the PIF. In this way the PIF will “technically make investments the source of Saudi go...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Egypt Secures Saudi, UAE Funding For Power Expansion, Awards Wind Projects
...enty 2MW turbines – to be installed at an existing 200MW Gamesa-built wind farm. Gamesa says delivery of turbines for the larger project will begin in October for commissioning in third quarter 2017. Deliveries for the smaller project will begin in the third quarter for early 2017 commissioning. Ga...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Jordan: Wind Gathers Pace In Bid To Diversify
...nstruction in 2017 with a view to first electricity generation in 2019. Start-up of the Elecnor plant takes Jordan’s installed generating capacity to 4.72GW, after the 99MW Hussein steam turbine plant was decommissioned in January. It is Jordan’s second wind farm following the JWPC consortium’s 117MW pr...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Oil Market Inches Towards Balance, With Or Without Deal
...imb until they begin to be worked off in 2017. And the IEA acknowledges that its Q2-Q4 2016 numbers for Opec output are “conservative,” factoring in only relatively modest gains for Iran as financial sanctions continue to stymie its marketing efforts. Libya could also surprise on the upside for 20...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
KRG: Prompt March Payments Boost IOC Outlook
...upon payment is due in October, while payments totaling $575mn are due in 2017 when the bonds mature. If regular payments from the KRG continue, GKP can expect to receive $13.6mn a month. It would need to save around $2.7mn of this in order to meet both the April and October payments while keeping $32...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Sudan’s Oil Plans Set To Fall Victim To Reality
...rthcoming. 300,000 B/D BY 2017? NO CHANCE Starved of investment and technology for more than a decade, the Sudanese oil sector has been crying out for greater foreign involvement for years now. But with sanctions set to remain in place for some years yet – given the current Sudanese ad...
Volume: 58Issue: 15Published at Fri, 10 Apr 2015 -
Gulf Refining Activity Slowing After Completion Of Three Mega-Projects
...mpleted it has yet to invite EPC bids. Iran and Qatar are both developing condensate splitter plants. Iran said it would bring the first of three 120,000 b/d splitters comprising the Persian Gulf Star plant at Bandar Abbas onstream in 2015: the IEA says 2017 is more likely. Qatargas is pressing on wi...
Volume: 58Issue: 15Published at Fri, 10 Apr 2015 -
Egypt Signs Contract With Axens For Assiut Gasoline Unit
...5 Planned: Midor Expansion Alexandria 60 2017 Alexandria Exp. Alexandria 10...
Volume: 58Issue: 15Published at Fri, 10 Apr 2015 -
New Projects And Policies Cementing Solar Role In UAE Power Generation
...MW first phase already in operation since 2013 and a 200MW second phase, which is being built by Saudi Arabia’s ACWA Power and Spain’s TSK for start-up in 2017 (MEES, 30 January). While DEWA’s appetite for solar is expanding, Abu Dhabi’s seems to have waned. Abu Dhabi Water and Electricity Au...
Volume: 58Issue: 15Published at Fri, 10 Apr 2015 -
Oman Expanding Desalination, Prepares Power Shake-Up
...-year water purchase agreement with Qurayyat Desalination Company. The project firm is owned 85% by Hyflux and 15% by local firm Modern Channels Services. The agreement is for the supply of up to 200,000 cmd of drinking water over the period 2017-37. Qurayyat lies east of Muscat on the Gulf of Om...
Volume: 58Issue: 15Published at Fri, 10 Apr 2015