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QP Enters Argentina
...forts to transform the company through international expansion. QP CEO Saad al-Kaabi said in 2017 that “we are seriously looking at entering Mexico, and we are looking at some of the South American countries” as well as keeping an eye on African opportunities. The firm is also eying US upstream as...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Israel: Energean Bags More Reserves, But More Needed
...x additional wells. ISRAEL’S OFFSHORE GAS FIELDS & PROSPECTS MORE PROSPECTS? Energean was the key winner of Israel’s 2017 bid round, with five blocks (12, 21, 22, 23, 31: (MEES, 24 November 2017). The firm highlights a number of new prospects with the eventual goal of ra...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Chevron Goes All-In On The Permian
...l sector, but it may well lower the purchase price for any asset sale. And France’s Total, which bagged 12.25% stakes in Anadarko’s two Algeria blocks (208 and 404a) via its 2017 takeover of Maersk, would be the most likely suitor. In sharp contrast to Chevron, Total bigged up the attractiveness of...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
RAK Bags Eni For Offshore Exploration
...January). Long a peripheral part of Eni’s portfolio with oil output of just 40,000 b/d in 2017 all from Iraq, the firm’s entry into two Abu Dhabi offshore concessions last year (MEES, 16 March 2018) bumped this up to a record 67,000 b/d for 2018. With new exploration assets in Abu Dhabi, Oman, Ba...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Saudi Nuclear Plans Fuel Geopolitical Concerns
...SSIA Certainly Russia’s Rosatom has had the most success in nuclear power awards in the Mena region. It has built the region’s first and only operational plant, at Bushehr on Iran’s Gulf coast, and is building two more (MEES, 31 March 2017). Rosatom is also slated to build Egypt’s nuclear project on th...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Saudi Goes West With Gas-To-Power Expansion
...15’s 62.26 GW. But while peak load fell sharply to 60.83GW in 2016, it rose back to 62.12GW in 2017, highlighting the government’s struggles to curb power demand amid a rapidly growing population. Increased gas volumes, in particular of non-associated gas, have done the heavy lifting in re...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Saudi Maxes Out Refineries Despite Crude Output Cuts
...Saudi crude exports as a percentage of overall production fell to the lowest level since late-2017 in February. Crude exports fell below 7mn b/d for the first time since May 2018, and as a proportion of production fell below 69% for the first time since October 2017 according to the latest Jo...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Aramco Asian Downstream Splurge Ties Up Captive Crude Markets
...nual report shows output including intermediate products of 30.8mn tons in financial year 2017-18. Its 4Q 2018 results show quarterly petchems output of 9.7mn tons, equivalent to 38.8mn tons on an annualized basis, after the cracker and downstream units reached full output in 2018. Saudi Arabia is al...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Suez Canal Boosted By Saudi, US Oil Trade Transformations
...ade – has continued to edge higher in recent years, hitting a record 491mn tons in 2018, up 4% on 2017’s previous record. *As for LNG, 5.16mn tons went northbound through the canal in Q1 this year, the highest since 3Q 2015. Weaker than usual Asian buying has seen Asian spot prices fall below those in...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Israel Contracts Ge For Power Plant Upgrade
...ectricity in 2018 compared with 54% in 2017. US independent Noble Energy is expected to bring the Leviathan field online in the fourth quarter this year, while Greece’s Energean is due to start up output from the Karish field in Q1 2021 (see p3): both are keen to ink more sales deals....
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
Tunisia Clinches Imf Loan Deal
...shington DC where the government and IMF staff agreed on steps to ensure that the “budget deficit target of 3.9% of GDP (before grants) for 2019 can be met to contain the high debt and elevated financing needs.” In 2018 the fiscal-deficit-to-GDP came in at an estimated 4.6%, down from 5.9% in 2017. Facing su...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019 -
More Debt For Jordan’s Nepco
...e country’s practice of heavily subsidizing electricity, most of which is generated through gas imports. MEES estimates Jordan’s total spending on energy in 2018 exceeded $5bn, up from $3.42bn in 2017 (MEES, 30 November 2018). In December Nepco signed a $265mn concessionary loan with the EBRD to re...
Volume: 62Issue: 16Published at Fri, 19 Apr 2019