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Exxon Eyes Israel’s Leviathan
...llow US firm Noble Energy is due for start-up in Q4 this year (MEES, 5 April). Australian LNG experts Woodside pulled out of a 2015 deal to take a 25% stake in the field with FLNG very much mooted as the preferred option at the time (MEES, 23 May 2014). Exxon’s entry would signal that Israel is on ma...
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?
...e long-delayed Karbala refinery is the only new refinery making any progress at present. Work on the $6bn 150,000 b/d project was awarded to Hyundai in 2014 (MEES, 10 January 2014) per an EPC contract, but payment problems saw the project – once slated for a 2019 start-up – delayed. Mr Ghadhban te...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Korea Q1 Oil Imports: Iraq Up, Saudi Down, Russia & US Records
...west quarterly share on record after the 69% figure in Q4 last year (MEES, 11 January). *Opec volumes were down even further: Q1’s 2.163mn b/d was the lowest quarterly figure since 2014, whilst Opec’s 70.5% Q1 market share was the lowest on record. Both figures would have been up, however, were it no...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Opec Crude Risks Being Squeezed From The Market
...tput could fall further still. Opec output hasn’t fallen below 30mn b/d since June 2014, but it wouldn’t take much for it to fall below this threshold for April. Should the US opt against renewing waivers that permit certain countries to import Iranian oil once they expire on 2 May then it seems in...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
UAE’s Mubadala Sells Cepsa Stake To Investor Carlyle
...TER 2014 BOOST FROM SE ASIA ENTRY *WORKING INTEREST BASIS. SOURCE: CEPSA, PARTNER COMPANIES, MEES ESTIMATES AND CALCULATIONS. 3: CEPSA: REFINED PRODUCTS & PETCHEMS SALES HIT RECORD 31.4MN TONS IN 2018, CRUDE RUNS AT HIGHEST SINCE 2012 SOURCE: CEPSA, MEES CA...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
MEES Interview With Iraq Oil Minister Thamir al-Ghadhban
...ere the contractor takes the full commitment for investment with a grace period to the host country and so on. They are a burden, especially when the price of oil is low, as we have faced since 2014, and for three or four years we suffered a lot. The budget was severely hit because of this commitment. Th...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Iraq Plans Major Pipeline Revamp To Enhance Export Flexibility
...ditha to Jordan’s Aqaba port, as well as a 160,000 b/d spur line to Jordan’s Zarqa refinery (MEES, 21 November 2014). The Basra-Haditha portion was to be constructed under an EPC contract, while Haditha-Aqaba would be under a build-own-operate-transfer (BOOT) deal. The government was wary of fi...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Egypt ‘Zohrs’ Past Libya As Eni’s Top Gas Producer
...ipem 10000’ drillship which remains under contract at Zohr until well into the 2020s. Eni sees Zohr as the key global example of the ‘Dual Exploration Model’ it has put at the heart of its global upstream strategy since the 2014-15 oil price (and capex) collapse. This model seeks to minimize up...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019