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Iran Revives 4mn B/D Production Target
...As key Opec members meet this weekend to decide whether to extend their ‘voluntary cuts’ into the second half of the year (see p9), Iran will as always cast its support from the sidelines. The country has essentially been exempt from cuts ever since Opec+ cuts began in January 2017, while ev...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
First Oil Export From UAE’s Belbazem
...velopment of Bu Haseer’s modest reserves economical, and Al Yasat has pursued a similar approach with Belbazem (MEES, 28 May). Outside of Al Yasat, CNPC is also present at Abu Dhabi’s largest concession, the 2mn+ b/d Adnoc Onshore concession. CNPC was awarded an 8% stake at Adnoc Onshore in 2017, ce...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
Sudan’s Army Turns To Russia For Weapons In Exchange For Naval ‘Supply Point’
...stored diplomatic relations with Sudan (under the SAF), having severed ties under President Bashir in 2016, when Khartoum sided with Riyadh following an attack on the Saudi embassy in Tehran, and later deployed troops to join the Saudi-led coalition fighting the Houthis in Yemen (MEES, 20 January 2017...
Volume: 67Issue: 22Published at Fri, 31 May 2024 -
Qatar Q1 Export Flows Normalize As LNG Spot Markets Cool
...gan supplying Bangladesh in 2018 under a 15 year contract to 2033 which was signed in 2017 (MEES, 30 June 2017). This follows previous deals for NFE volumes from 2026, including a 15-year 2mn t/y agreement in November with ConocoPhillips to supply Germany (MEES, 2 December 2022), and a massive 4m...
Volume: 66Issue: 22Published at Fri, 02 Jun 2023 -
Key Sadara Chemicals Pipeline Boosts PlasChem Operations
...p). The Sadara complex is centered around a 1.9mn t/y mixed-feed cracker, which is able to process up to 53,000 b/d of naphtha and 85mn cfd of ethane and an aromatics plant producing 280,000 t/y of benzene and 134,000 t/y of toluene. The final Sadara unit started operations in 2017 (MEES, 18 August 2017...
Volume: 65Issue: 22Published at Fri, 03 Jun 2022 -
Saudi Foreign Reserves Edge Up Over April
...e second half of that year. They stabilized at slightly less than $500bn from 2017 onwards, before dropping sharply in early 2020 amid the huge Covid-19 disruption and bottomed out at $424bn in February. SAMA NET FOREIGN ASSETS EDGE UP TOWARDS END-2021 LEVELS IN APRIL ($BN) SO...
Volume: 65Issue: 22Published at Fri, 03 Jun 2022 -
Libya’s Oil Revenues Surge
...force intended to display his willingness to fight unless his interests are not catered for in the emerging political landscape. He is not the only one worried. LIBYA'S OIL REVENUES* SOAR ON THE BACK OF 1MN B/D-PLUS EXPORTS THIS YEAR *CBL 'OIL REVENUE' NUMBERS USED BETWEEN 2011 & 2017...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Lukoil Taps Yamama At West Qurna-2
...iticized Baghdad’s “delayed decision making,” and the firm has been frustrated by the slow pace of progression towards developing its 2017 2.5bn barrel-plus Eridu discovery located in Block 10 (60% op, 40% Inpex: MEES, 3 March 2017). The find was dubbed Iraq’s “largest in decades” and Iraqi officials say th...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Qatar Gets Post-Embargo Boost As Exports To Saudi Resume
...fferences remain between the two sides, but no winners had emerged since the onset of the embargo on 5 June 2017 (MEES, 9 June 2017) and bringing an end to this public rift was ultimately a pragmatic decision. With the embargo having forced a reshaping of regional trade links, a return to the pre-2017 st...
Volume: 64Issue: 22Published at Fri, 04 Jun 2021 -
Bahrain In Talks With Neighbors Over GCC Gas Grid
...xt month, no expansion here is viable for the foreseeable future. Saudi Arabia was in fact in talks with Qatar over potential gas imports before the embargo began in June 2017 (MEES, 8 December 2017). That option is now gone, but energy ministers from Bahrain, Saudi Arabia and the UAE have all ra...
Volume: 63Issue: 22Published at Fri, 29 May 2020 -
Saudi Arabia Looks To Expand Iraq Footprint
...aken Iran’s dominance in Baghdad (MEES, 1 September 2017). As Bruce Riedel, a former CIA analyst and Middle East expert on the US National Security Council told MEES in 2018, Saudi Arabia’s evolving relationship with Iraq is “perhaps the most enlightened part of current Saudi foreign policy” (ME...
Volume: 63Issue: 22Published at Fri, 29 May 2020 -
Kuwait Eyes First Exports After Clean Fuels Upgrade
...726,000 b/d at two plants in March 2017, when KNPC shuttered the 200,000 b/d Shuaiba refinery after a series of unscheduled outages. Once CFP is finished Kuwait’s next refining capacity increase will come at a new 615,000 b/d refinery at Al-Zour. This is running behind schedule, with start-up ac...
Volume: 63Issue: 22Published at Fri, 29 May 2020 -
Lebanon-Sonatrach Fuel Scandal Lays Bare Energy Sector Corruption
...ddy and Raymond Rahme, who have a variety of business interests – including alleged ties to the Barzani family in Iraqi Kurdistan. Around 2017, the firm emerged as a heavyweight in the Lebanese products sector, suspiciously underbidding in several gasoil and gasoline contracts – an oil trader te...
Volume: 63Issue: 22Published at Fri, 29 May 2020 -
Oman Smashes Output Records
...,000 b/d in 2017 to 148,000 b/d so far this year – mainly a product of the Khazzan gas field ramp up and 2018 and the Rabab Harweel project coming online last year (MEES, 6 December 2019). ...
Volume: 63Issue: 22Published at Fri, 29 May 2020 -
Libya’s North Hamada: Development At Last?
...0.2mn (MEES 27 October 2017) – implying that it no longer planned to develop Area 47. However, seemingly under pressure from NOC, it reversed this impairment the following year. That said, with Medco barely mentioning Libya in its results material, it appears to be close to quitting Libya following its re...
Volume: 62Issue: 22Published at Fri, 31 May 2019 -
Gulf Monarchies Look To Score In Soft Power Premier League
...ch invested over $1bn to date in a bid to win football’s biggest club prize, Europe’s Champion’s League. Adding spice to the contest is that Abu Dhabi alongside Saudi Arabia has been the key instigator of an embargo on Qatar since 2017. At least, to paraphrase George Orwell, football is a war minus th...
Volume: 62Issue: 22Published at Fri, 31 May 2019 -
Gulf Refiners Push 2.7Mn B/D Crude Processing Hike By End-2025
...udi Arabia which will lift the kingdom’s refining capacity to 3.3mn b/d. The refinery was originally due online in 2017 (MEES, 28 February 2014) and its planned late-2019 start up may yet slip into 2020 (MEES, 22 February). However, the project looks more likely to come online this year with Iraq’s pl...
Volume: 62Issue: 22Published at Fri, 31 May 2019 -
Morocco Awards ‘Game-Changer’ Hybrid Solar Project
...o PV-CSP hybrids to be built at Midelt. The plan is to install 1GW of capacity across the two sites, with phase two developed like phase one as an independent power producer (IPP) project backed by a 25-year power purchase agreement (MEES, 23 June 2017). Masdar chief executive Mohamed al-Ramahi sa...
Volume: 62Issue: 22Published at Fri, 31 May 2019 -
Egypt: 1.5GW Power Awards
...0MW. MHPC says the upgrades will increase output, improve efficiency and reduce downtime at the plants. The upgraded plants are expected to begin operating in the first half of 2021. MHPS also says it this month completed an upgrade of the 1.5GW Cairo North CCGT under a contract awarded in August 2017...
Volume: 62Issue: 22Published at Fri, 31 May 2019 -
Bahrain Takes $300mn Oil Revenue Hit From Abu Safah Outage
...om the Awali field operated by state firm Tatweer. Output here averaged 42,700 b/d for Q1, down 6.5% from 45,500 b/d in the same period in 2017. It is also a 10% fall from its October 2016 output of 47,500 b/d, which formed the baseline for its commitment to cut output under the Opec+ agreement (see p4...
Volume: 61Issue: 22Published at Fri, 01 Jun 2018