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Majors’ Russia Exit Puts Spotlight On Mena Portfolios
...to Iran’s South Pars gas project in 2017 was cut short by the return of US sanctions the following year (MEES, 23 November 2018). While it was prevented by the Algerian government from buying Occidental’s ex-Anadarko assets in 2020 (MEES, 8 May 2020), at least the firm managed to complete its co...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
Exxon Hikes 2020 Permian Forecast, Eyes Q4 Start-Up At Sabic JV Cracker
...orms. These knocked 800,000 b/d (18%) from Texas’ overall crude output and saw US production as a whole fall to the lowest level since 2017 (see chart 2). Despite the storms, Exxon’s Q1 figure was up 12% year-on-year. Exxon’s 2021 spending will be highly focused on “prioritized investments” where Ex...
Volume: 64Issue: 18Published at Fri, 07 May 2021 -
Fujairah Storage Hub Set For Industry Boost
...erational. The largest of which is Vitol’s 82,000 b/d refinery, located close to Uniper’s 67,000 b/d topping plant. The Uniper facility began commercial operations in 2017 and consists of two identical units. Uniper says the plant has “the capacity to produce about 3.6mtpa of marine fuels with sulphur co...
Volume: 63Issue: 18Published at Fri, 01 May 2020 -
Eni: $7bn For Iraq’s Zubair
...ly 270,000 b/d when Eni managed to renegotiate the field’s production plateau target (PPT) from 1.2mn b/d to 850,000 b/d in 2013 (MEES, 31 May 2013). Output hit 400,000 b/d in September 2016 following a production capacity increase to 660,000 b/d, encouraging Eni in early 2017 to set production ta...
Volume: 62Issue: 18Published at Fri, 03 May 2019 -
Drilling Firms Boost Mideast Operations
...ertook that of number two, Halliburton, but a 10% decline, “driven primarily by seasonality across most businesses”, saw it fall to $5.62bn and back into third place. SERVICES FIRMS 1Q19 REVENUE ($BN): REVENUES DIP QUARTER-ON-QUARTER BUT REMAIN FLAT YEAR-ON-YEAR *GE SUBSIDIARY SINCE JULY 2017...
Volume: 62Issue: 18Published at Fri, 03 May 2019 -
Abu Dhabi Offshore: Dust Settled
...t out expansion in the Gulf as a key element of its expansion plan to 2025. The other key target country is Iran. The $1.5bn is a sizeable commitment for OMV, who already has a presence in Abu Dhabi through its interest in downstream JV Borouge (MEES, 17 November 2017). ZAKUM: INPEX ‘ASSET LE...
Volume: 61Issue: 18Published at Fri, 04 May 2018 -
KRG: Dno Presses Accelerator At Tawke Field
...OTS CAPEX INCREASE IN 2017 ($MN) SOURCE: DNO, MEES. IMPROVED PAYMENT REGULARITY Payment regularity has now improved, with the past three monthly payments being made in the first two weeks of the month (see table). Payments are currently made with a two-month delay, though Erbil’s si...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Taq Taq Sinks Below 20,000 B/D
...ril production of just 18,000 b/d on 4 May, adding that Q1 production averaged just under 25,000 b/d. It remains on track to produce 15-20,000 b/d over the course of 2017 (MEES, 31 March). Genel’s short-term finances are now dependent on its 25% stake in DNO’s Tawke. ...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
CNPC In Abu Dhabi Upstream Deal
...ing additional barrels online. Abu Dhabi hopes to boost oil production to 3.5mn b/d from 3mn b/d by 2017 – though MEES understands that the target will not be achieved until at least 2020 (MEES, 11 April). In addition to the KNOC/GS Energy concession, Germany’s Wintershall and Austria’s OMV (24.9%-ow...
Volume: 57Issue: 18Published at Fri, 02 May 2014