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Oman Eyes Ambitious Downstream Gas Projects With Total, Shell MOUs
...d 2.71bn cfd of gas in 2017, 67% and 72% of the national total respectively. But development of “several gas discoveries located in the Greater Barik area” is slated to be undertaken by Shell (75%) and Total (25%) rather than PDO. Further down the line, the Omani government may farm back into th...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
China’s Anton Oil Expands Iraq Presence As Shell Exits
...eld, but the Anglo-Dutch major announced last September it would walk away from its 45% stake citing dissatisfaction with Iraq’s cumbersome technical service contract (TSC) effective 30 June (MEES, 22 September 2017). Malaysian state firm Petronas is also relinquishing its 30% stake end-June, leaving Ir...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
UK Firm Gulfsands Vies To Outlast Syria Sanctions
...erated several of the region’s fields under a 2014 understanding. GPC reportedly produced around 17,000 b/d through 2017 as well, but due to EU sanctions on the state firm, Gulfsands does not receive a cent of revenue from its crown jewel asset. That the block’s fields and infrastructure escaped the wr...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
US Shale Records Test Infrastructure Limits
...tput is now forecast to top 12mn b/d by the end of 2019 (see charts). For this year the EIA now forecasts 10.72mn b/d, up a whopping 1.37mn b/d on 2017 – a record annual gain, beating 2014’s 1.29mn b/d. The hike in forecasts comes in on the back of soaring oil prices. US marker WTI, having av...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Oil Price Gains Prompt Debate Over Demand Slowdown
...e group cut its expected global demand growth rate from 1.47mn b/d to 1.44mn b/d (see Chart 1). “Crude oil prices have risen by nearly 75% since June 2017. It would be extraordinary if such a large jump did not affect demand growth” says the group. Demand growth cuts have fallen solely on 2H 20...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Libya: What Hope For The UN’s Ambitious ‘Action Plan’?
...The UN Action Plan to resolve Libya’s political morass has made some progress. But renewed security concerns mean the country’s future is as uncertain as ever. Since the incoming UN Special Representative to Libya Ghassan Salamé set out an ‘Action Plan’ in September 2017, he has come up ag...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
UAE’s Adnoc Plans $45bn Five-Year Downstream Expansion
....4mn t/y by 2025 under Adnoc’s 2030 Strategy unveiled in November, the strategy is now taking shape (MEES, 1 December 2017). Adnoc says the program will upgrade the Ruwais complex "to produce greater volumes of higher value petrochemicals and derivative products.” Central to the plan is the co...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Algeria Advances Downstream Plans
...0,000 t/y polypropylene plant (PP). Sonatrach (51%) and Total (49%) plan to start front-end engineering and design this summer. Feedstock for the PDH unit will be locally produced propane: the requirement will be up to 23,000 b/d. Algeria produced just under 500,000 b/d of NGLs in 2017. Total is a key fo...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Algeria Eyes Solar To Power Oil Operations, But ‘It’s A Long-Term Job’
...om renewables. These will be small projects whose capacity is around 100MW.” Algeria’s solar capacity has risen quickly of late, although from a low level, to 425MW at the end of 2017, while wind capacity has languished at 10MW since 2014 (see chart). The solar increase is attributable to small-sc...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Mubadala’s SWF Acquisitions To Create Global Champions
...vereign wealth funds have been watched with a keen interest since their inception - particularly over the last year. After acquiring International Petroleum Investment Co (IPIC) in January 2017 (MEES, 24 February 2017), Mubadala announced in March this year that it is planning a takeover of Abu Dhabi In...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Qatar Boosts Earnings
...trochemicals expansion strategy and plans to construct a 1.6mn t/y ethane cracker (MEES, 8 December 2017). Qatar Petroleum (QP) announced on 15 May that “engineering design of the Petrochemicals Complex should commence shortly, leading to a planned start-up in 2025.” It will receive feedstock from the 4....
Volume: 61Issue: 20Published at Fri, 18 May 2018