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Will Increased Saudi Oil Production Translate Into Higher Summer Exports?
...cle US shale activity could have a material impact on global balances, creating space for increased volumes from Saudi Arabia and its fellow Opec+ producers. 1: SAUDI CRUDE BURN HAS STARTED THE YEAR AT THE LOWEST LEVEL SINCE 2017 (‘000 B/D) SOURCE: JODI, MEES. 2: HOW WILL PR...
Volume: 68Issue: 19Published at Fri, 09 May 2025 -
Gas Output: From Bad To Worse
...Egypt’s gas output woes go from bad to worse. Output slumped to a six-year low 5.21bn cfd for March, almost 2bn cfd down on the record 7.19bn cfd hit in September 2021. On a quarterly basis, output was down 3% sequentially at 5.31bn cfd for Q1, the lowest since 4Q 2017 and some 25% below 3Q...
Volume: 67Issue: 19Published at Fri, 10 May 2024 -
Saudi Arabia Targets Foreign Investment To Bolster Economic Growth
...eated the Future Investment Initiative (FII) conference which it has held in Riyadh annually since October 2017 and which was swiftly dubbed ‘Davos in the Desert.’ Last month Davos, home to the WEF’s flagship event, truly came to the Desert. While the 28-29 April WEF Special Meeting had more of a ge...
Volume: 67Issue: 19Published at Fri, 10 May 2024 -
Kuwait Targets 2030 For Delivery Of $19bn In Megaprojects
...rth Kuwait, mostly from the Raudhatain and Sabriya fields (see map, p3), had hit 600,000 b/d by end 2022, up 37,000 b/d on the 563,000 b/d figure at the end of 2020-21 but still below 2019-20’s 635,000 b/d and the 2017-18 peak of 760,000 b/d. 2022’s gains may well be thanks to the ramp-up of op...
Volume: 66Issue: 19Published at Fri, 12 May 2023 -
Shell & BP Advance Egypt Drilling As Chevron & Exxon Make Deepwater Splash
...igocene finds in Egypt’s Mediterranean include Eni’s Temsah, where output peaked at 1bn cfd in 2012 but has singe fallen to negligible levels with decommissioning work ongoing. The Miocene, meanwhile, offered up BP’s Atoll field, which came online in late 2017 and produces around 400mn cfd. Shell and pa...
Volume: 66Issue: 19Published at Fri, 12 May 2023 -
Dana Gas Profits Jump As Oil Market Strengthens
...CEIVABLES ($MN, END OF PERIOD) SOURCE: DANA GAS, MEES. 2: DANA GAS NET OUTPUT: KRG VOLUMES ARE NOW CLEARLY AHEAD OF THOSE FROM EGYPT (BOE/D) SOURCE: DANA GAS, MEES. 3: DANA GAS CAPEX DROPPED TO ITS LOWEST LEVEL SINCE 2017 LAST YEAR ($MN)...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Homs Refinery Fire Sheds Light On Syria’s Murky Fuel Markets
...stribution. HTS itself is accused of being a covert branch of Al-Qaeda and has been labelled a terrorist group by, amongst others, the US and Turkey. Reported to be established in 2017 by a group of Syrian businessmen living in Turkey, Watad receives oil shipments from Turkish suppliers who deliver it to th...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
As Momentum Returns To KRG Oil Sector, Repayment Change Highlight Challenges
...peline connection. Pearl also has another big gas field in Kurdistan – the nearby 5.7tcf Chemchemal field – where it has conducted appraisal drilling. It was also awarded blocks 19 and 20 in 2017 as part of a deal with the KRG over receivables (see p5). ...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
QP Wades Further Into Mexico’s Offshore
...ocks 15 and 33 – are operated by Total, while Block 34 is operated by BP. BP’s involvement may yet prove a major hurdle, given the firm’s self-described “long and checkered relationship with Qatar” (MEES, 17 November 2017). BP has been notably absent since QP rejuvenated its international portfolio in...
Volume: 63Issue: 19Published at Fri, 08 May 2020 -
Rabigh Record Loss
...e Saudi Red Sea coast comprises a 400,000 b/d refinery and 4.97mn t/y petrochemicals complex. The petchems plants were built in two stages, with the 2.57mn t/y Rabigh-2 complex reaching mechanical completion in 2017 but only reaching full commercial operation in October 2019 (MEES, 8 November 2019) wi...
Volume: 63Issue: 19Published at Fri, 08 May 2020 -
Qatar Slumps Into Recession
...ha, with total exports of $16.4bn over Q1 the lowest level since 3Q 2017. Within this, gas and condensate revenues of $10.8bn were the lowest since 4Q 2017. It appears all but inevitable that revenues will fall further this quarter. ...
Volume: 63Issue: 19Published at Fri, 08 May 2020 -
Qatar: Record Q1 Power Output
...Qatar’s state generator QEWC delivered record Q1 output of 8.64TWh for the first three months of 2020 (see chart 1). This follows a record 48.6TWh for 2019, up 23% on 2018 and 11% above the previous record of 43.9TWh in 2017. But it remains to be seen if the monthly record of 5.65TWh set la...
Volume: 63Issue: 19Published at Fri, 08 May 2020 -
Total To Become Top Algeria Producer In $9bn Oxy Side Deal
...lling. The company’s only stake was 35% of the aging Tin Fouye Tabankort (TFT) wet gas field where output has fallen from a peak of 680mn cfd in 2011 to just 400mn cfd for 2017 – netting Total a measly 15,000 boe/d, three-quarters gas (MEES, 23 March 2018). But from that trough, the company’s Algeria ou...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
IOCs Face Mixed Picture In The Mena Upstream
...ll. In the Middle East and North Africa (Mena) region, these contrasting strategies have had a profound impact on respective oil output for IOCs. Total overtook ExxonMobil to seize the crown as the region’s largest oil producer in 2017, and last year opened up a gap of nearly 150,000 b/d on its US ri...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Qatar Rolls Out Plans To Expand LNG Storage, Export Capacity
...nkers. Qatar has previously posited installing new LNG export berths beyond the LNG No.6 berth, and this remains the likeliest location for such facilities. With QP preparing to ramp up LNG exports from 2024 the firm is also greatly expanding its tanker fleet. CEO Saad al-Kaabi told MEES in 2017 that th...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Tamar Shutdown Highlights Israel Upstream Risk
...e online in Q4 this year (see box and MEES, 12 April). Israel has struggled to attract big names to its upstream. The country’s previous bid round in 2017 flopped with Greek minnow Energean the key winner (MEES, 15 December 2017) – Indian state firms also took one block but they have yet to co...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Tensions Flare As Turkey Drills Off Cyprus
...ach any sort of compromise, with the most recent summit in Switzerland in 2017, the last concerted efforts, failing to reach any sort of deal. Turkey has warned Cyprus about its own drilling activities to the south of the island and has been threatening since 2011, when Noble Energy discovered the 4....
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Gulf Petchems Attract Major Interest
...w is a partner in Kuwait’s Equate (MEES, 8 December 2017). The majors’ Gulf petchems interests are low-key in comparison with the upstream. But Total and refinery JV partner Aramco recently created headlines with a plan to integrate a 1.5mn t/y mixed-feed cracker and 800,000 t/y polyethylene un...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Kuwait Powers Ahead With CCGT Plans After Projects Hiatus
...nder was issued in September, will help increase Kuwait’s installed capacity by 32% from 18.74GW to 24.79GW, while the two new IWPPs will raise desalination capacity by 48% to 4.07mn m3/d (see table). Meanwhile, peak load rose from 13.80 GW in 2017 to 14.07GW last year, so there was plenty of slack in th...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Iran Threat To Nuke Deal As Exports, Revenues Face Collapse
...15, amid overall record 617,000 b/d imports. Turkey imported 91,000 b/d from Iran in February, up slightly on January’s 90,000 b/d but less than half average volumes of 210,000 b/d for 2017 and 1H 2018 when the Islamic Republic was Turkey’s top crude supplier. Certainly Turkey, as with India and Ch...
Volume: 62Issue: 19Published at Fri, 10 May 2019