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UAE Finishes Building First Nuclear Plant, But Start-Up Delayed To 2018
...w test and commission the reactor, before handing it over to a joint venture of Enec and Kepco formed to operate the plant. Although the contract signed between Enec and Kepco in 2009 envisaged starting up one reactor each year over the period 2017-20, Enec now says the “timeline includes an ex...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
US Forecasts Up Again But Firms Wary Of Rising Costs
...ntinues to raise its crude output forecasts for this and next year. Its latest Short Term Energy Outlook, released 9 May, forecasts that output will hit 9.685mn b/d, a new record, in November this year and top 10mn b/d in October 2018 (see chart). For 2017 as a whole, the EIA’s latest overall average fo...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
April Rig Count: Algeria Drilling Hits 34-Year High, Qatar Equals Record
... April 2017 Breakdown Ap...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Wintershall Dispute Takes Gloss Off Libya Production Peak
...cluded in the latest lifting programs for Amna crude at Zueitina Terminal, Wintershall Libya was forced to shut in oil production from its onshore Concession 96 on 7 March 2017,” said the spokesman. “It would not be an economic exploitation of the petroleum resources of the concession to continue pr...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Gulf Banking Ripe For Takeover Spree
...rgest such lender in the Middle East. In-country M&A banking deals aside, cross-border M&A activity in the Middle East has bucked the global dip in the first quarter of 2017 and remained robust, particularly in the UAE and Saudi Arabia. According to the cross-border M&A Index Q1 2017 published by...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Saudi Revenues Double In Q1
...venues in 2017, which requires average quarterly takings of $32bn. Oil revenues drove an overall year-on-year increase of more than 70% to $38.4bn, while non-oil revenues grew an anemic 1%. The report confirmed Deputy Economy Minister Muhammad al-Tuwaijri’s statement last month that the quarterly de...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
New Saudi Minister Faces Task Of Turning Vision Into Reality
...ise overall capacity (MEES, 26 February). The delayed expansion of the Khurais oil field – initially scheduled for 2017 – remains on course for finalization in 2018. Capacity here is slated to increase by 300,000 b/d to 1.3mn b/d. In the longer term, Mr Falih will play a key role in driving fo...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Iran Output Rebound Sets Stage For Saudi Stand-Off In Vienna
...16 contract, prices which imply an average value of $45/B for 2016 as a whole. The EIA report cited stronger than expected economic data as a key contributory factor. This has led the EIA to revise global demand projections upwards by 0.3mn b/d and 0.2mn b/d for 2016 and 2017 respectively, le...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
KRG Exports Rise With Boost From New Fields, But Takings Fall
...obable (2P) reserves were sharply downgraded in February (MEES, 4 March). Meanwhile, London-listed Gulf Keystone Petroleum (GKP) plans to produce 41,000 b/d by year-end at the Shaikan field, from around 35,000 b/d currently, but is hamstrung by more than $575mn worth of bonds maturing in 2017. It failed to...
Volume: 59Issue: 19Published at Fri, 13 May 2016 -
Iran Selects 49 Oil, Gas Projects Open For Foreign Investment
...ar in early 2014 to 330 bcm/year by 2017. The list, revealed on the ministry news service by Abdol-Mohammad Delparish, director of consolidated planning at the state-run National Iranian Oil Company (NIOC), comprises a host of projects that are at various stages of exploration and development. 28 of...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Oman Planning for Spot Power
...pire in 2017, with five more finishing by the end of 2020. While some PPAs will continue beyond the introduction of the spot market, the new rules will provide “an alternative way for producers to sell power to OPWP” (MEES, 7 February 2014). NERA has already advised the GCC Interconnection Au...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Qatar Seeks New IOC Partners To Develop Al-Shaheen Oilfield
...om al-Shaheen,” says Jakob Thomas, CEO of Maersk Oil, adding that the company had known that it would be challenged on terms and conditions in connection with the 2017 extension, and had been waiting for more information from QP on how they wished to proceed. That uncertainty was making it difficult fo...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Oman Eyes Liwa Close, Prepares Duqm
...rst phase due to start up in 2017. The purified terephthalic acid (PTA) plant will utilize paraxylene feedstock and will itself provide PTA feed for two linked 250,000 t/y polyethylene terephthalate (PET) plants. Ompet – a joint venture between state firm Oman Oil Company (OOC – 50%), Oman’s Ta...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Egypt: Solar Ambitions Soar, But Like Icarus?
...cently NREA awarded Spain’s Gamesa a €220mn turnkey contract to build a 220MW wind farm at Gulf of El-Zayt on the western Red Sea coast. This too was first proposed in 2010, but is now due to start up in 2017 (MEES, 24 April). EGYPT’S RECENT RENEWABLES DEALS (GW) Co...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Iraq, KRG Oil Export Deal Holds Despite Discrepancies
...eld to 2017 or beyond. (MEES, 1 May). ...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Iran Turns Up The Heat On Chinese State Energy Giants
...7mn b/d by 2017, up from 3.7-3.8mn b/d today (MEES, 18 April). Beijing is by far the largest foreign investor in the Iranian upstream, after having stepped in to take control of projects abandoned by Western oil companies that were forced to exit Iran with the tightening of Western sanctions in the mi...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
KPC 100KBD India Deal
...gin commissioning in June. The refinery is highly complex and is built to process ultra-heavy, sour crudes. Kuwait has plans to bring onstream 60,000 b/d of extra-heavy Ratga crude by 2017 and increase production to about 120,000 b/d by 2020 (MEES, 18 April). Indian Oil is moving forward with pl...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Egypt Mulls LNG Import Options
...se Algeria’s problem is a lack of gas, not liquefaction capacity. LNG exports, which declined from 14.26mn tons in 2010 to 10.9mn tons last year, are unlikely to increase substantially (if at all) until the Southwest Gas Project comes online from 2017, and maybe not even then, given Algeria’s pl...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Tupras Boosts Turkish Conversion Capacity
...bsidiary of Azerbaijan’s state oil company and by Turkey’s Calik Enerji. While Calik’s planning for a 300,000 b/d refinery at Ceyhan is at an early stage, Socar is nearing completion of financing for the 200,000 b/d Socar Turkey Aegean Refinery (STAR) at Aliaga, which is expected to begin operating in 2017 an...
Volume: 57Issue: 19Published at Fri, 09 May 2014 -
Aramco Scales Back Giant Jazan Plans To 2.4GW
...’s lump sum turnkey contract covers engineering, procurement, construction, pre-commissioning and commissioning support. TR says the utilities and offsites will be operational in 2017. This represents a one-year delay from the original 2016 start-up schedule. The delay can be attributed to the ma...
Volume: 57Issue: 19Published at Fri, 09 May 2014