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Egypt’s Offshore Delta Output: Nooros Boost, Rapid Decline
...end last year despite an increase in output from 1.0bn cfd to 1.17bn cfd at the 2017 Nooros start-up on the Abu Madi West block. The firms’ other four regional blocks – El Temsah, Ras el Bar, Baltim and North Port Said – remain in unremitting decline. Having waned from above 2bn cfd in 2012 to 93...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Tunisia Struggles To Halt Oil And Gas Decline
...18’s 37,700 b/d. But this was the second lowest quarterly figure in the last five decades: it was only lower in 3Q 2017 when protesters forcibly shut in southern fields demanding jobs and development funds (see chart and MEES, 2 June 2017). While the industry ministry sees 2019 output reaching 44...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Saudi Set To Secure US Shale Gas Foothold With LNG Deal
...cilities. If it were to install such facilities, then an FSRU would seem the most likely option, presumably on the Red Sea coast given that this is the most gas-deprived region (MEES, 19 April). Additional gas is certainly required, with Aramco projecting gas demand to grow from 9.1bn cfd in 2017 to 14.6bn cf...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Iraq’s Somo Pursuing Strategic Shift Toward Crude Trading
...ghdad HQ (see transcript, p6). Mr Alyasri assumed the post in September 2017, replacing Falah Al-Amri who initially envisaged the shakeup of Somo the year before (MEES, 15 September 2017). “Once taking over office, I immediately turned to the medium- and long-term plans, and the mechanisms that will ma...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Saudi Keeps Crude Exports Tight Despite Us Pressure
...12mn b/d, the lowest quarterly figure since 4Q 2017 (see chart 1 and p18 for full data). They appear on track to dip further in Q2. MEES pegs exports at a shade over 7mn b/d during April, and slightly less than this over the first half of May. Of course, this could all change. Saudi Arabia could ramp up pr...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Iran Sets New Rules For Repatriation Of Petchems Forex
...rrency earnings, as Tehran struggles to access its export revenues under tough US sanctions. State petrochemicals firm National Petrochemical Company (NPC) and its subsidiaries and affiliates earned some $10bn in the Iranian 2017-18 calendar year before the US unilaterally reimposed sanctions in May 20...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Bahrain Seals Finance For Refinery Upgrade Amid Oil Optimism
...visors. While the amount of funding to be provided has not been disclosed, reports have placed it at over $4bn. Bapco awarded a $4.2bn engineering, procurement, construction and commissioning (EPCC) contract for the BMP project in late 2017, an amount that tallies with this financing. BNA says that th...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Egypt Hikes Power Prices But Delays End To Subsidies
...e increase in fuel prices could see another spike in inflation, which rose to 33% in July 2017 but has been brought back down to 13% last month. Egypt’s central bank hopes to reduce inflation to single digits in the medium term. EGYPT ELECTRICITY TARIFFS (BY MONTHLY USAGE BAND): AVERAGE USER TO PA...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Sharjah Pushes Gas Power Despite UAE Backing Alternatives
...pacity of 1.39GW, and is likely planned to replace the more inefficient existing plants while reducing (if not eliminating) imports from Abu Dhabi which hit a record 1.3GW peak delivery in 2017. The snag is that Sharjah’s gas production is negligible and the emirate is dependent on importing Qatari ga...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Algeria’s Export Revenue Buffeted By US Shale Hurricane
...the 2.9bcm/y Reggane field and the March 2018 start-up of 1.8bcm/y Timimoun (MEES, 22 December 2017). This year’s only significant boost will come from the Touat field, which like Reggane and Timimoun is in the country’s far southwest. Here private equity-led operator Neptune Energy is ta...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Korea’s Hyundai Signs Up To $2.45bn Iraq Seawater Project
...sra’s oil fields to boost production. While not yet finalized, this is a major step forward for a project that has struggled to get off the starting line, with Baghdad initially hoping for 2017 start up (MEES, 7 June 2013). Talks are ongoing with ExxonMobil and PetroChina for the South Iraq In...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Petroceltic Renamed Sunny Hill
...ES, 8 April 2016). The firm’s key asset is the 3.5bcm/y Ain Tsila project in Algeria, where start-up is scheduled for 2022 (MEES, 15 March). Its other North Africa assets are in Egypt where it produced 79.8mn cfd of gas from three concessions in the onshore Nile Delta in 2017. The firm is also em...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Sonatrach Goes West
...servoir but without disclosing further details. Such opportunities may be a long time coming given that Tindouf is over 500km from the nearest producing gas field, Reggane, which entered service at the end of 2017. ...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Libya: Security Situation Worsens
...most 20,000 b/d for Q1, up from 2018’s 7,600 b/d and 2017’s 12,100 b/d. While there was no damage to the Zella field or its facilities, the assault highlights the security challenges facing Libya’s lifeline oil sector. It also comes on the back of a 29 April rocket attack on the frequently shut-in 30...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Saudi Arabia 1Q19 Key Oil Data (‘000 B/D): Exports At Lowest Since 2017
...CHANGES EXPRESSED IN PERCENTAGE POINT TERMS WHERE ORIGINAL FIGURES ARE PERCENTAGES. *EXCLUDES FIELD LPG (650-700,000 B/D). **NAPHTHA REFINERY OUTPUT INCLUDED IN ‘OTHER PRODUCTS TO DEC 2017 (479,000 B/D FOR 2017). ^PRESUMES ALL FUEL OIL CONSUMPTION IS BURNT IN POWER PLANTS. SOURCE: JO...
Volume: 62Issue: 21Published at Fri, 24 May 2019