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Kuwait Presses Ahead With Development Plans, Eyes New Contract Model
...is, production had been around 500,000 b/d, of which 250,000 b/d was Kuwait’s share. Output would need to grow beyond those levels by 2020 if Kuwait’s target is to be hit, but merely a return to 2014-levels would be an achievement. This leaves all current capacity from the KOC fields: some 3....
Volume: 60Issue: 16Published at Fri, 20 Apr 2018 -
Opec Members Unrestrained In Condensate Growth
...ude production restrictions highlights the issue. Of course Opec is not the only entity to have employed condensate loopholes, as the US permitted seaborne exports of condensate prior to ending the crude export ban in late 2015 (MEES, 19 September 2014). Iran too benefited from the gray areas su...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
Suez Canal Shipments, Revenue Up But Trade War Threatens
...0,000 b/d as the highest on record. • For the moment the Suez Canal is reaping the benefits of the massive Gulf (in particular Saudi) 2014-17 expansion in refining capacity and diesel output, with Europe the key target export market. Saudi exported a record 2mn b/d of oil products in February with di...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
Saudi Oil Exports Hit New Peak But Crude Burn Rises
...-year but were the highest since 2014 (see chart 3). However, February’s fall in fuel oil consumption meant that total oil burn that month remained down year-on-year. Sizeable cuts in oil-fired power generation are unlikely until 2019 when the 2.5bn cfd Fadhili plant is due to come online (ME...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
OMV Restarts Yemen Output
...curity situation forced delays, production hit a record 14,500 b/d in 2014. OMV in early 2015 forecast the completion of the phase-2 wells and the central processing facility by the end of the year with plateau output of 23,000 b/d hit in 2016. But the firm halted its Yemen operations from April 20...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018 -
Egypt Plans Further Cuts To Energy Subsidies
...bsidies in the first half of the current financial year, a much more plausible figure and one that implies an impressive full year figure of $5.7bn, some 8% below the budget figure. However the recent rise in oil prices – Brent has spent the last week above $70/B for the first time since 2014 – could yet ra...
Volume: 61Issue: 16Published at Fri, 20 Apr 2018