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Eni Revises Up Zohr Reserves But Output Decline Continues
...ar-on-year, gives cumulative production since the field started up in late 2017 of 5.34tcf, implying an original recoverable resource of 9.84tcf (see chart 1). Zohr’s slump has been the key driver in Egypt’s overall gas output decline, with the field making up 37% of last year’s eight-year low 4....
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
OPEC Secretary General: ‘Data-Driven Messaging More Important Than Ever’
...it the data that led the IEA Executive Director to say in 2017, “We don’t see a peak in oil demand any time soon”? Or the data that led the Executive Director to say in 2022, “Global oil demand will peak before 2030.” Which IEA data has ‘won’ regarding peak gasoline consumption? The IEA stated in...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
GCC Deepens Africa Ties, Starting 2025 With Record Oil Product Exports
...ate energy firm OQ has also expanded into distribution in Africa. It took a 40% stake in Kenya-based Hass Petroleum through its subsidiary OQ Trading back in 2017. The company operates more than 150 retail stations across nine countries in central and east Africa. Oman, like other countries in the GC...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
Egypt Eyes Summer Power Needs, Looks To Limit LNG Spending
...asing their FSRUs, but with the deal to take the Energos Power seemingly close, those talks have not progressed. EGYPT LNG *IMPORTS BY ORIGIN: Q1 IMPORTS RISE TO 1.10MN TONS, HIGHEST FIRST QUARTER SINCE 2017 AS US REMAINS TOP SUPPLIER BY SOME DISTANCE (MN TONS) *IMPORTS ZERO 4Q18-1Q24. SO...
Volume: 68Issue: 15Published at Fri, 11 Apr 2025 -
Eni Egypt: More Zohr Woe As Reserves Downgraded
...Zohr ramped-up following its late 2017 start-up. But with Zohr output dropping from a peak of 2.74bn cfd in Q3 2021 to 2bn cfd currently on water infiltration issues, the country finds itself on the lookout to lease an FSRU as it looks to resume LNG imports in the coming months in a bid to pr...
Volume: 67Issue: 15Published at Fri, 12 Apr 2024 -
Kuwait’s KPC Plans Merger Of Refining Subsidiaries
...2017 to oversee development of the Al Zour refinery and LNG import terminal, but now its role has transitioned to managing their operations, and there could be efficiency gains if this is done in greater alignment with KNPC. Al Zour exports in Q1 equated to around a third of Kuwait’s overall re...
Volume: 67Issue: 15Published at Fri, 12 Apr 2024 -
Egypt: Alarming Gas Output Decline Highlighted By Zohr Slump
...tput and that of Zohr are closely aligned and have been since 2019 when the field began ramping up following its late 2017 start-up. And while 2020 saw Egypt implement shut-ins which caused Zohr output to fall to 2.09bn cfd, 2021 rebounded to a record 2.74bn cfd. This was the same year that Cairo and En...
Volume: 66Issue: 15Published at Fri, 14 Apr 2023 -
Prospects For A Prolonged Ceasefire Rekindle Yemen Oil Sector Hopes
...lf neighbours to the north but still attracted IOC interest since the 1980s. Production peaked in 2002 at 457,000 b/d and exports were still in excess of 100,000 b/d up until 2014 (MEES, 15 September 2017). Current output is estimated to be no more than 10,000-15,000 b/d mainly coming from the Ma...
Volume: 66Issue: 15Published at Fri, 14 Apr 2023 -
BP Taking Egypt Offshore Block As Raven Outages Persist
...itially started-up in 2017 through the Libra and Taurus fields but suffered steep production declines. Despite the latest Phase-3 Raven gas-condensate field being brought online almost 12 months ago, output has never reached the 1.4bn cfd initially planned when the project was sanctioned (MEES, 30 April 20...
Volume: 65Issue: 15Published at Fri, 15 Apr 2022 -
Eni In Libya: What Does The Future Hold?
...bya’s share of Eni’s total net output has fallen to less than 10% for the first time since 2011 and is down from 21% as recently as 2017 (see chart 2). Even with such a steep fall in Libya’s share, the firm is looking to further decrease its exposure to the oft-troubled North African country “to better ba...
Volume: 64Issue: 15Published at Fri, 16 Apr 2021 -
Sunny Hill: No More Eggs, No More Basket
...layed – it was previously slated for 2017 start-up (MEES, 21 July 2017) – it was thought that Petrofac’s EPC contract had been progressing relatively smoothly, albeit with some potential pandemic-related delays. That Sonatrach is pursuing start-up just two months after the date of the original 48-month co...
Volume: 64Issue: 15Published at Fri, 16 Apr 2021 -
Egypt Halts LNG Exports As Eni & Shell Bear The Brunt Of Gas Surplus
.../B.” In normal terms, Egypt’s gas renaissance has been a great success story. From a sizable gas deficit for 2014-17, new output led by Eni’s giant Zohr, which came online in December 2017, has meant that since late 2018 the country has had a gas surplus (MEES, 17 May 2019), with exports hitting an ei...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Algeria: Southwest Pipeline Progress, But Field Development Lags
...uat gas project – the UK-firm announced last week that after ramp-up delays, Touat was producing “close to plateau rates” (MEES, 3 April). Repsol-operated Reggane Nord, at 2.9bcm/y, was the first element to start up in late 2017. Here partner Edison is in the process of quitting with talks for So...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Mena Drilling: GCC Records, North Africa Slump
...ans to raise capacity to 5mn b/d, though it hopes to be able to cut costs by squeezing contractors (see p3). Kuwait’s Q1 average rig count of 53 was, likewise, second only to the record 55 set in 2017. *Saudi Arabia, meanwhile, is in the midst of a multi-year campaign to bolster the co...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Saudi Arabia Extracts Huge Cut Commitment From Russia
...als stretching back to January 2017, Saudi Arabia was cutting by an order of magnitude greater than Russia. This was exacerbated by last December’s deal under which Russia managed to get its condensate excluded – and subsequently increased output – while Saudi Arabia promised to cut an additional 40...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Egypt Petchems Producers Target New Products, Increased Exports
...lyethylene (PE) plant (MEES, 7 February). The polybutadiene plant will cost $180mn and take two years to build. Ethydco produced 367,000 tons of ethylene in 2019, as well as 363,000 tons of polyethylene for local consumption and export. Ethydco’s exports during 2017-19 earned $929mn. NEW CH...
Volume: 63Issue: 15Published at Fri, 10 Apr 2020 -
Genel Modest Taq Taq Rewards
...Anglo-Turkish firm Genel announced this week that output from its Taq Taq field in Iraqi Kurdistan had risen to 15,500 b/d. The firm has completed the TT-20z well on the license’s north-western flank which is producing at 2,000 b/d, boosting the field’s output to its highest level since June 2017...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Exxon Eyes Israel’s Leviathan
...velopment Eni-operated 3.4mn t/y Coral FLNG project where it took 25% in December 2017. Although it is not operator the firm assumed responsibility for all midstream operations in the project. Exxon has been rapidly expanding its interests in the East Mediterranean. It announced the Glaucus discovery of...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Scatec Starts Egypt Solar Plant
...om a 50MW project completed in December 2017. However, MEES analysis of progress at Benban suggests that other projects may also have started up in recent weeks whilst over 1GW of capacity could be operating by year-end (MEES, 26 March). Benban development got a key boost when the European Bank for Re...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Egypt: Is It Finally Getting Its Energy Finances In Order?
...The end to fuel subsidies and IOC ‘receivables’ may finally be in sight. Egypt is gearing up to remove the majority of fuel subsidies by the start of the next financial year in July. Cairo spent E£121bn ($6.8bn) in the 2017-18 financial year and is on course to spend E£90bn ($5.1bn) in th...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019