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Lebanon Bidding Risks Stalling Amid Major Pullback
...ficially listed as qualified as operators (the 12 from 2013, plus Indian state firm ONGC Videsh which was upgraded from ‘non-operator’), only six have actively expressed an interest this time round. LEBANON 2017 BID ROUND BLOCKS LEBANON BID ROUND PRE-QUALIFIERS AS OP...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
BP’s WND Starts Up
...essentially two, with Taurus-Libya developed fast-track using mostly existing infrastructure to “accelerate gas production commitments to Egypt…before peak demand in summer 2017,” BP says. Phase 2 involves the Giza, Fayoum and Raven fields, which will be tied back by two separate 65km 24” tr...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Oil Firms Experience Mixed Start To 2017 In Iraqi Kurdistan
...port from Canadian field partner Shamaran in March said first oil was expected in Q2. Taqa’s Q1 report released 11 May merely says production is expected to begin in 2017, but the firm tells MEES the “export pipeline is nearing completion” and there has been “no deviation” from earlier forecasts. On...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Iraqi Coffers Reap Reward Of Higher Oil Prices
...Iraqi crude export revenues in the first four months of the year are up 75% year-on-year as significantly higher oil prices have more than offset a slight dip in volumes. January-April revenues totaled $18.9bn in 2017, against $10.8bn last year and $15.9bn in 2015, although they are well be...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Germany Q1 Crude Imports: Libya Boost Raises Opec Share
...• Russia remained the dominant supplier of crude oil to Germany in the first quarter of 2017 according to the latest imports figures (see table), but the Opec share was up year-on-year, boosted by an increase in supplies from Libya. • An average 705,000 b/d of crude arrived in Germany fr...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Oil Price Rebound Boosts Saudi Petchems Sector, Sabic Touts Restructuring Benefit
...ghest since 2013’s total SR555bn. As usual the petrochemical sector results are dominated by state-owned giant Sabic, which reported an 80% hike in first quarter net profits year-on-year to SR5.24bn ($1.40bn) and a 51% increase over returns for the fourth quarter 2016. Sabic’s Q1 2017 net profit co...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
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