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KRG To See Output Increase From Smaller Fields
...gion are increasingly willing to reinvest. The results are beginning to show. Russia’s Gazprom Neft plans to drill a third well at its Sarqala field in Q3, wrapping up Phase-1 development which has seen output rise from 5,000 b/d in early 2017 to more than 21,000 b/d now; 30,000 b/d by early 2019 looks em...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Algeria: Total, Repsol Recommit But More Investment Needed
...the reins (MEES, 21 April 2017), and followed this up with broad partnership deals with many of Algeria’s key existing upstream investors – including Eni and Anadarko as well as Total and Repsol. On the other hand, the fact that commitments to date have come from existing investors indicates th...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Aramco Downstream Strategy: Plastic Fantastic As Sadara Park Ramps Up
...ants targeting the automotive industry, while local firm Rufayah will process pyrolisis by-products to make hydrocarbon resins. Sadara started up the cracker at the heart of its complex in August 2016 and started up the last of its 26 units in August 2017. The plant processes naphtha, ethane, be...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Markets Face Precarious 2019 Amid Supply Uncertainty
...ne. It’s difficult to see the common ground that unites Opec’s 14 members. OPEC SUPPLY & DEMAND FORECASTS, JUNE 2018 (MN B/D) 2016 2017 vs’16...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
US Output Set For Record 2mn B/D 2018 Growth; 2019 Forecasts Trimmed On Pipeline Constraints
...ble). • NGLs output is also slated to grow by almost 600,000 b/d to 4.33mn b/d for 2018, taking total 2018 oil output to a whopping 15.12mn b/d. This smashes 2017’s previous annual record of 13.09mn b/d, whilst forecast year-on-year gains of 2.03mn b/d top 2014’s previous record of 1.75mn b/d. • But, wh...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Iran Looks East For Support As US Squabbles With Europe
...erhaul China in early 2017. CHINESE, RUSSIAN FIRMS STAND TO BENEFIT China’s state-owned CNPC (30%) last year signed up alongside Total to develop Phase 11 of Iran’s South Pars gas field (MEES, 23 June 2017). With Total set to relinquish its 50.1% stake in the project unless it manages a se...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Egypt Looks To Delayed Midor Expansion, ERC Start-Up To Ease Products Shortfall
...0,000 b/d in 2017 while gasoline imports averaged 90,000 b/d (MEES, 26 January 2018). While additional Midor capacity could cover just 8% of 2017 diesel imports and 13% of gasoline, next year’s planned start-up of the Egyptian Refining Company (ERC) 81,500 b/d hydrocracker, will make a sizable dent in th...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Mena Countries Eye Oil, Gas Savings From Renewables Plans
...ficient CCGT plants) or 78,000 b/d of liquid fuel (see table). This is less than 10% of the oil burnt by Saudi Arabia alone (974,000 b/d for 2017: 458,000 b/d crude and 465,000 b/d fuel oil). Only for Morocco, and to a lesser extent Jordan and Tunisia (MEES, 1 June), have new renewables significantly de...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Egypt: Power Price Hike, Or Back To The Future?
...nancial year. But it saw spending on power subsidies soar to hit E£64bn for 2016-17. The 2017-18 budget estimated a fall to E£28.6bn (MEES, 25 May). The plan was that electricity subsidies would have been completely phased in the upcoming financial year. But, wary of public opinion, President Sisi re...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Gulf Countries Throw Jordan A $2.5bn Lifeline Amid Unrest
...cent recovery in oil prices, the GCC states are in a better position to fulfill their latest promises and disburse the pledged aid promptly to cash-strapped Jordan, but the aid still won’t even meet the gap left between 2017 and 2018 after the 2011 GCC package expired. PLAYING HA...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018