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Iran South Pars Gas Output Soars 37% To Feed Domestic Hunger
...ich MEES estimates rose from 2.92mn b/d in January 2016 to 3.77mn b/d in March thanks to the lifting of sanctions. Much of these gains were thanks to gas injection at mature oil fields. Cedigaz estimates that in 2014 there was a 61bcm (167mn m³/d; 5.9bn cfd) shortfall in gas for injection. This is mo...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Iran Inaugurates Petchems Projects To Tap New South Pars Gas
...PE plants at Dehdasht and Kermanshah (MEES, 10 October 2014). Phase one of the ethylene pipeline involved installing 1,200km of pipeline with diameters ranging from 8-inch to 24-inch. A second phase of development, currently under way, will expand the system to 2,250km with capacity to deliver 2....
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Iraq Fires Up 1GW Gas-Fired Capacity But Is There Enough Gas?
...ad of 13.4GW in 2015, up from 12.3GW in 2014. One thing is clear: the inefficient burning of liquid fuel still dominates the power generation sector, despite a gradual rise in the gas share from 28% in 2013 to 36% last year (see table). The increased supply of gas to power plants comes both th...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Total And Sonatrach Bury Hatchet As Algiers Pushes Partnerships Agenda
...natrach… it’s business,” Mr Pouyanné said last year. Sonatrach retaliated by launching a counter-claim at the same court that Total had not honored its contractual commitments regarding the 4 bcm/y (390mn cfd) Ahnet tight gas concession, also in Algeria’s Saharan southwest, from which it pulled out in 2014...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Iran Aims For Bid Round By July To Speed Up IOC Return
...firms about investment in Iranian petrochemicals projects. The company has a backlog of 67 partially completed petchems projects with almost 46mn t/y of combined capacity. They were halted by a lack of funds and gas feedstock (MEES, 10 October 2014). “Iran needs $55bn for 60 projects in the pe...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Libya Lays Out Plans For Output Hike
...ere through some maintenance. The Elephant field has capacity of 90,000-100,000 b/d.” The Sharara fields, on Blocks NC-115 and NC-186, produced up to 340,000 b/d prior to 2011, and were producing an average of 300,000 b/d in 2012, but output in 2014 averaged just 78,000 b/d, and it has been zero si...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Saudi Petchem Firms Slide Further In Tough Market, Sabic Looks To Consolidate
...so announced this week that it produced a total 70.5mn tons of plastics, chemicals and metals in 2015, which was 1.1% up on 69.7mn tons for 2014. A common theme in the companies’ first quarter results is reduced income due to lower sales prices, largely due to the indexing of petchems products to cr...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Irena Sees Renewables Growth In MENA, But Less Than Elsewhere
....34GW last year. But this represents just 1.3% of global 1.99TW end-2015 renewables capacity, up 8.3% on 2014, according to freshly-released statistics from the Abu Dhabi-based International Renewable Energy Agency (Irena). MENA regional renewables capacity has increased by almost 28% since the end of 20...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Crude Price Gains Further Reduce Incentive For Output Freeze
...rticipated in the November 2014 meeting when the market-share strategy was adopted - Indonesia is therefore excluded as it only rejoined in 2016. Based on average Q1 2016 prices and production, the group’s export earnings slump by 36% on 2015, which itself was down an eye watering 49% on the previous ye...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Eni: Unlikely Libya Boost Returns North Africa To Center Stage
...0,000 b/d in 2014. This, and concerns over payments, led partner Occidental (23.44%) to announce its intention to sell its stake in November 2015. Eni’s 19,000 b/d output gain in Iraq in 2015 was outpaced by a 21,000 b/d boost in Iran where the company receives oil in lieu of payment for pre-2011 in...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Corporate Profile: OMV Looks To Iran To Re-Boot MENA Portfolio
...s) out to 2020 despite taking a further ax to exploration spending. 2015 spending of €607mn on exploration was already down by 12% on 2014’s record €693mn. OMV plans a 26% cut to €450mn this year with a further 33% cut to €300mn for 2017 (and this figure maintained for 2018). Overall capex fell from €3....
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Saudi Plans $10bn Loan, First Since 1991
...ternational borrowing by Saudi Arabia, combined with the domestic debt issuance could push the general government debt to 9.4% of GDP in 2017, compared to 1.5% in 2014, due to the plunge in oil prices. Longer term, the issue of international sovereign debt will support the development of a market for Sa...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Lebanon: $1bn Bond Success
...ate since President Michel Sulaiman’s term expired in May 2014, with parliament unable to agree on a successor. Political and economic relations between the GCC countries and Lebanon have also worsened: the GCC accuses Shia militia-come-party Hizbollah of terrorism. Hizbollah is part of the Le...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
Algeria Oil & Gas Revenues Collapse Further
...Algerian customs data for the first two months of 2016 show that the country’s earnings from oil and gas exports are on target to be just 40% of 2014 levels. Total exports for the first two months of 2016 were worth just $4.19bn, $25.6bn on an annualized basis, down from $62.9bn for 2014 an...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
SOUTH KOREAN 1Q16 LNG IMPORTS: VOLUMES EDGE UP BUT PRICES CONTINUE TO FALL
...*BASED ON 1T LNG =52MN BTU. ACTUAL NUMBER VARIES WITH CALORIFIC CONTENT. ** CHANGES EXPRESSED IN PERCENTAGE POINTS. N/A INDICATES ZERO IMPORTS FOR PERIOD. SOURCE: KOREA CUSTOMS SERVICE, MEES CALCULATIONS. KOREAN LNG IMPORT VOLUMES RISE Year-On-Year FOR FIRST TIME SINCE 2014...
Volume: 59Issue: 16Published at Fri, 22 Apr 2016 -
PDO Accepts Oman Oil Ministry Challenge To Drive Push To 1mn b/d
...ny years about the 550,000 b/d [plateau], and now we’re ramping up,” PDO managing director Raoul Restucci said at the MOG’s annual media briefing in Muscat on 13 April. “We will increasingly present to you a 600,000 b/d plateau, not just for one year, but for…ten years.” Shell-led PDO, which in 2014...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Oman’s Offshore Hopes Take Hit With Total Exit
...ices were higher.” Oman is currently producing from just one of its seven offshore concessions – Block 8, which is operated by Middle East-focused Norwegian independent DNO. Output from Block 8 averaged 15,678 barrels of oil equivalent per day (boe/d) for 2014 DNO says: around 8,500 b/d oil, and 43...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Qatari LNG Faces Up To Uncertain Global Climate
...QATAR Qatari LNG Faces Up To Uncertain Global Climate With the global LNG market going through radical changes, Qatar is in no hurry to boost output. But it will have to adapt its approach to protect its revenue. Qatar’s LNG exports reached 76.37mn tons in 2014, down 2% from 20...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Qatar Gears Up For Growing US Condensate Exports, And Middle East Competition
...d of 2014 as the country favored cheaper coal and LNG for power generation. With the start of Barzan next year, Tasweeq will reach full export capacity in 2016. According to RasGas, Barzan will yield 22,000 b/d of field condensate and 6,000 b/d of plant condensate, as well as 34,000 b/d of et...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
MENA LNG Exporters Set To Lose Market Share
...ALGERIA/UAE/REGIONAL MENA LNG Exporters Set To Lose Market Share Algeria and Abu Dhabi were the only MENA LNG producers recording an increase in exports in 2014, according to the latest statistics from the International Group of LNG Importers (GIIGNL). Algeria helped boost supply fr...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015