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Chevron Inches Towards Shale-Focused Algeria Entry
...pped to use their expertise to help Sonatrach develop Algeria’s supposedly huge shale gas reserves, which the US Geological Survey estimates at over 700tcf and Algerian officials have pegged higher still (MEES, 20 October 2017). Chevron says that “Algeria holds a world class petroleum system with th...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Powering The UAE’s Northern Emirates
...ound 14TWh over 2017-2020, it began climbing sharply in 2021 and last year’s 7% increase pushed it to a record 17.99TWh. At the same time, peak demand has also been on a sharp upwards trend, hitting 3.5GW in 2023 (see chart 2). As with elsewhere in the Gulf, demand is highly seasonal: the record of 3....
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Egypt Tenders For Bumper LNG Imports As Gas Demand Soars
...erwhelmingly gas-fed, for 95% of national power supply for 2023 (MEES, 3 May). *Egypt’s gas output fell again to just 5.115bn cfd for April, down a whopping 1.3bn cfd (20%) on end-2022 and the lowest figure since the start-up of the key Zohr field in late 2017 (MEES, 14 June), whilst the country’s di...
Volume: 67Issue: 25Published at Fri, 21 Jun 2024 -
Oman’s New Energy Minister: Bumper Revenues, Longer-Term Challenges
...oofing the energy sector and broader economy. For Oman, gas is key to this ambition with the 2017 start-up of the Khazzan tight gas play unlocking a bonanza of increased production and development plans (MEES, 12 April 2019). Gas has long been touted as a ‘transition fuel’ and Oman is debottlenecking it...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Kuwait Set For Virgin Offshore Well
...ng-delayed offshore exploration drilling program will be a major development for the emirate. Upstream activity outside of the PNZ is conducted by state firm Kuwait Oil Company (KOC), but capacity has dropped from 3.15mn b/d in 2017/18 to just 2.63mn b/d for 2020/21. KOC aims to increase this to 3....
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Qatar Brings Major Players Into LNG Expansion
...pansion in 2017 (MEES, 7 July 2017). QatarEnergy has been able to leverage the huge interest in its LNG expansion project into progressing its overseas ambitions. TotalEnergies and ExxonMobil have received stakes equivalent to 6.25% (2mn t/y) as befits their status as the largest LNG players of the qu...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
KRG Hands Baghdad Oil Sector Counter-Proposal
...om the Federal Court of Canada over 700,000 barrels in June 2017. In both cases, the KRG successfully re-routed the cargos elsewhere to avoid their seizure. Crucially, Iraq and Turkey are still party to lengthy arbitration over the KRG’s utilization of the pipeline to Ceyhan for exports. The le...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Qatar Gas Exports Surge To Five Year High
...Qatari gas exports bounced back to five-year highs in April as seasonal maintenance work on LNG facilities was completed. Exports jumped above 16bn cfd in April for the first time since January 2019, and hit their highest level since June 2017 according to the latest figures from Jodi, pr...
Volume: 65Issue: 25Published at Fri, 24 Jun 2022 -
Tethys Banks On Oman Knowledge To Develop Hidden Gems
...19). Starting in 2017, Tethys made the jump into becoming an operator in its own right in Oman, snapping up Block 49 on the Saudi border (MEES, 24 November 2017). In 2019 it acquired a 20% stake in Block 56 on the south east coast of Oman (MEES, 1 November 2019) and last year it acquired a further 45% in...
Volume: 64Issue: 25Published at Fri, 25 Jun 2021 -
QP, TotalEnergies Team Up Offshore Suriname
...out at the same level as ExxonMobil, Shell, ConocoPhillips, Total” (MEES, 8 December 2017). He subsequently added that “we want to be with the main players, we don’t see ourselves as a national oil company per se anymore, we look at ourselves as like any other IOC. We always say we want to be one of...
Volume: 64Issue: 25Published at Fri, 25 Jun 2021 -
Key Saudi Gas Plant Fully Operational
...duces the impact of Opec production cuts on gas output. Overall, Saudi Aramco has brought more than 5bn cfd of non-associated gas processing capacity online since 2016. As well as the 2.5bn cfd Fadhili plant, the 75mn cfd Midyan plant was commissioned in 2017, while the 2.5bn cfd Wasit plant came on...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
US Shale: Record Fall In May, Is This The Bottom?
...003mn b/d is down just 33,000 b/d from May. July is forecast fractionally lower, at 998,000 b/d which would be the first time below 1mn b/d for Bakken output since January 2017. These figures are substantially higher than those given by state energy regulator Lynn Helms. Speaking on 12 June Mr Helms sa...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
Yemen: Political Standoff, Oil Sector Stability
...men’s current output. Volumes are piped to a 3.5mn barrel storage terminal at Ash Shihr, with export sales via tender. Trading giant Glencore emerged as an early buyer (MEES, 15 September 2017), but various other entities have emerged as takers since, with 2mn barrel cargoes lifted every 50 days or so...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
Saudi Awards Eyed As US Approves Funding Of Foreign Nuclear Power
...oject off the ground (MEES, 15 December 2017). SECURITY CONCERNS The DFC’s move to lift the ban on US state funding for overseas nuclear investment follows the March 2019 approval by the Trump administration of applications by six unnamed US firms to undertake preliminary work on Sa...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
Egypt Gas: Nour Disappoints
...ads based on the ‘sands play’ of Israel’s Leviathan and Tamar discoveries to the northeast as well as analogues with the ‘Zohr carbonate play’ as based on the seismic (MEES, 31 March 2017). EGYPT: NORTH SINAI EXPLORATION ZOHR: OVERPRODUCTION WARNING Zohr is currently pr...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Thailand’s PTTEP Expands In Gulf With Partex Purchase
...itically, Partex’s partnerships could act as a springboard for PTTEP to embark on further regional expansion. The acquisition will mark a grand return to the Gulf for PTTEP following a two-year hiatus. The firm exited Oman in 2017 having announced in August 2016 that it was selling its 1,600 b/d Block 44 to lo...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Saudi Fuel Oil Consumption Soars
...e latest Jodi data to April shows that combined crude and fuel burn has averaged 772,000 b/d so far in 2019 (up 6% year-on-year), crude oil burn is down 16% year-on-year to 297,000 b/d. Based on seasonal trends, this implies that liquids burn could eclipse 2017’s record 974,000 b/d and push towards 1m...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Rising Gulf Tensions Cast Spotlight Back On Iran’s Nuclear Capabilities
...named site in Iran. At the time AEOI was seeking to fabricate fuel rods itself for any new plants in Iran. However, the agency decided it would need to accept an expansion of existing arrangements for using Russian fuel and returning spent rods before work on Bushehr-2 could begin (MEES, 31 March 2017...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Libya Fights To Keep The Lights On
...st has been seven years in the making. Turkish contractor Enka and turbine provider Siemens have been reluctant to return since three Turkish and one South African worker were kidnapped in Ubari two years ago (MEES, 24 November 2017). But Gecol finally appears ready to roll the first unit out ov...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
DC’s Bahrain ‘Mideast Peace’ Conference: Deal of the Century or Damp Squib?
...rael-Palestine conflict once and for all. STICKS AND CARROTS It’s little wonder that Mr Kushner has chosen an investment rather than a political angle to kick off his Middle East peace initiative: since taking office in 2017, Mr Trump torched what little goodwill the US had left wi...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019