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Gas In The Gulf: Cooperation Is Limited
...om Iran. This resulted in a significant increase in reported flows that month (see chart 3). Since 2017, Iran has also exported gas to Iraq through two pipelines, but flows have become increasingly unreliable due to Iran’s own gas shortages as domestic demand has increased. Exports to Iraq peaked at...
Volume: 68Issue: 24Published at Fri, 13 Jun 2025 -
Iraq Turns To Turkey To Ease Electricity Shortages
...DED THEIR CONTRACTS IN 2017 SOURCE: IRAQ'S MINISTRY OF ELECTRICITY, MEES. ...
Volume: 68Issue: 24Published at Fri, 13 Jun 2025 -
Egypt Drilling At 2-Year Low As Oil & Gas Output Continue Downward Spiral
...vestment (MEES, 10 May) – Egypt’s overall April output of 5.115bn cfd was the lowest since November 2017, that is to say just before Zohr start-up. *The output slump has left Egypt in acute gas deficit and the country reliant on imports from Israel (see column). As such a 10-day shutdown to 1.1bn cf...
Volume: 67Issue: 24Published at Fri, 14 Jun 2024 -
Saudi-China Conference Highlights Growing Ties
...e US as the world’s largest importer with 8.40mn b/d in 2017, with volumes soaring further to a record 10.86mn b/d in 2020 as it gorged on cheap oil amid the pandemic. Chinese imports have since dropped but still averaged 10.2mn b/d last year. This has been mirrored in the two countries’ re...
Volume: 66Issue: 24Published at Fri, 16 Jun 2023 -
Oman LNG Bounces Back Following Maintenance Work
...mpletely changed the supply picture when it started up in 2017 (MEES, 29 September 2017). The 500mn cfd second phase Ghazeer came online in October 2020 (MEES, 16 October 2020), while the likes of Shell, Total and Eni have all taken up Khazzan-like acreage in recent years in a bid to replicate BP’s su...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
TotalEnergies First Again With Qatar LNG Expansion Deal
...e first firm to re-enter Iran, alongside China’s CNPC, during the country’s brief post-JCPOA re-opening. The pair signed a $4.8bn deal to develop Phase 11 of the South Pars gas field in 2017 (MEES, 7 July 2017), before exiting in 2018 after the US re-imposed sanctions on Iran (MEES, 24 August 20...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
Asian LNG Prices Steady As Korea Boosts Oman Volumes
...r 2017 to 2021 but has been overtaken by both China and India so far this year (MEES, 10 June). *Korea remains top LNG customer for the Middle East’s number two LNG exporter Oman (see p4). With Korean imports from Oman up 44% at 2.24mn tons for the first five months of 2022, Oman was just be...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
Baghdad Wary That BP Is Looking To Exit Iraq
...mpany (BOC) does not hold a share of ROO, it is contractually the owner of the field. Since 2017, BOC has seconded almost 5,800 employees to ROO. ROO plays a huge role in Basra’s economy, and employs 22,000 people “via contractors who support Rumaila’s activities through a large supply chain” according to...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Gulf Keystone Provides Timely Boost To KRG Oil Sector
...ich is supplemented by a heavier 250 meter column of 14-22°API crude (MEES, 10 March 2017). Shamaran’s latest presentation says that the firm expects to “generate quarter-on-quarter production growth with increasing contribution of heavy oil.” OUTPUT GETS HEAVIER The KRG has been de...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
IEA Calls On Opec+ To Open The Taps In 2022
...tention turns to ending the production cuts. If they are unwound entirely then the market will be oversupplied, but with Opec+ having had some form of cuts in place for most of the period since January 2017, “cuts fatigue” will play a major role. 1: WHICH OPEC MEMBERS HAVE THE CAPACITY TO REGAIN BA...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Saudi Arabia Burning Record Oil Volumes
...ar. Crude oil burn is up year-on-year, but is broadly within historical norms. At 407,000 b/d in April, it was up by 52,000 b/d year-on-year to the highest April figure since 2017. For fuel oil meanwhile, consumption of 637,000 b/d was up nearly 100,000 b/d from 2020, to by far the biggest April fi...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
LNG Markets: Demand Robust As Prices Hit $12/mn btu
....4mn tons for 5M 2021. *Japan has been the top global LNG importer since the 1970s and was only topped by China for the first time ever on a monthly basis in November 2019 (MEES, 10 January). Having only overtaken South Korea for global number two spot in 2017, there is now a fair chance that Ch...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Iran Goes To The Polls, Or Not
...ads the judiciary and is a close ally of Supreme Leader Ayatollah Ali Khamenei. Mr Raisi also stood in the previous election in 2017 when he was soundly beaten by then incumbent Hassan Rohani (MEES, 26 May 2017). Four years of progressively-tightening sanctions under US President Trump tempered su...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Iraq: Qayara Restarts With 10,000 B/D Trucked To Kirkuk Refinery
...st $2/B (MEES, 11 September 2020). The difficult-to-handle grade was also blamed for inflicting infrastructure damage. With the nearby 14,000 b/d Qayara Refinery offline since March according to local media, output is most probably being trucked to the 56,000 b/d Kirkuk Refinery partly refurbished in 2017...
Volume: 64Issue: 24Published at Fri, 18 Jun 2021 -
Iraq Fights For Survival Amid Growing Pressure To Slash Oil Output
...severe underinvestment. Iraq is certainly in dire need of revenues, and as last year’s protests showed, the state of social services is a life-or-death matter (MEES, 8 November 2019). On the other hand, Iraq’s situation did improve considerably over 2017-19, with oil revenues up and the Is...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
New Iraqi Oil Minister Inherits A Sector In Flux
...mense challenges facing the country. 46-year-old Ihsan Ismaael takes over as Oil Minister replacing the veteran Thamir Ghadhban, and looks to be a strong choice to oversee Iraq’s all-important oil and gas industry. As former Basra Oil Company (BOC) Director General (2017-2020), Mr Ismaael was a cl...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
China Bags Record Imports With Saudi Surge
...raight months of zero loadings, some 340,000 tons (five cargoes) sailed for China in March, rising to 472,000 tons (seven cargoes) in April, with the latter level with the previous record set in October 2017. Indeed, China was the top overall destination for US LNG exports in April for the first time si...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
Saudi Oil Exports Back On Top
...opping to 7.29mn b/d, the lowest since 2017. It seems likely that the deep June production cuts Saudi Arabia is implementing will push the kingdom’s exports below the US this month, but over the course of Q2 as a whole Saudi Arabia ought to easily stay ahead of the chasing pack. SAUDI ARABIA OV...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
World Bank Forecasts 2020 GDP Collapse: World -5.2%; Saudi -3.8%; Iraq -9.7%
...th -6.3% growth. Should these forecasts come to pass then Beirut will be left by end-2021 controlling an economy some 23% smaller in real terms than it had in 2017. The World Bank acknowledges that though it is forecasting a return to growth almost across the board for 2021 (it forecasts +4.2% for th...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020 -
Egypt Inks New IMF Program, Hikes Power Prices
...TERNATIONAL RESERVES DOWN ALMOST $10BN (21%) OVER LAST THREE MONTHS TO LOWEST SINCE 2017 ($BN) SOURCE: CBE. SUBSIDY EXTENSION Although subsidies on oil products have been largely removed, with Cairo implementing an automatic pricing mechanism since September last year, the pl...
Volume: 63Issue: 24Published at Fri, 12 Jun 2020