- Sort by:
- Score
- Published ▼
-
Yemen Crude Reaches Europe
...The Marshall Islands-flagged British Eagle offloaded some 400,000 barrels of Yemeni crude at Italy’s Trieste port this week. While Italy has proven Yemen’s sole European customer since war erupted in 2015 (MEES, 15 September 2017), this may not prove the final destination. Trieste also su...
Volume: 62Issue: 25Published at Fri, 21 Jun 2019 -
Exxon Walks Away From Iraq Seawater Project
...this year (MEES, 3 November 2017). But Iraq’s oil minister Jabbar Al-Luaibi cast doubt on the deal (weeks after announcing it was in its ‘final stages’) the following month, proclaiming that if a deal with Exxon were not reached the project would be put back on offer in February (MEES, 5 Ja...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Total Poised For Further Mena Upstream Expansion
...y upstream asset is a 30% stake in the joint venture operating the 300,000 b/d Al Shaheen field acquired in July 2017 (MEES, 28 July 2017). Mr Pouyanné appears optimistic that as “we are becoming the number two in the LNG world via the acquisition of Engie [LNG] assets in July” the firm is well pl...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Saudi Wins Out, Opec Switches To Group Ceiling
...r18 Mar18 YTD vs2017 2017 2016 Algeria 1....
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
US Shale: Reading The Runes On Future Supply Growth
...illing & Projects Al Hirschberg told the firm’s Q1 earnings call. BAKKEN BUSINESS Perhaps the greatest success of recent months has been North Dakota’s Bakken. As recently as early 2017, the start of the latest US shale boom, many of the sector’s leading lights were skeptical that Bakken output wo...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Shaikan Output To Double After Deal With KRG
...rqala 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 eminently achievable. Elsewhere, Canadian minnow Oryx announced on 20 June that it has completed the first well at the Banan field wi...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
OMV Tests Yemen Restart
...turn. The country’s miniscule current output mostly comes from state firm PetroMasila’s Blocks 10 and 14 in the eastern Marib basin. This is largely shielded from the conflict and thus able to export about 44,000 b/d from Ash-Shihr port (MEES, 15 September 2017). OMV is clearly less skittish than ot...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Saudi Petchems JVs Get Greedy For Naphtha, Cutting Into Exports
...om the integrated 400,000 b/d Petro Rabigh refinery (MEES, 20 April). RUNS FALL Some of the reduction in naphtha availability after January can be attributed to lower refinery runs, which fell away from the December 2017 record of 2.828mn b/d to just 2.200mn b/d for April. Work at two re...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Algeria Makes Electricity Gains, But Struggles To Power The Future
...ility Sonelgaz says that the country’s generators delivered a total 69.79TWh of electricity to the grid in 2017, an increase of 7% on 2016. But the firm has failed to lift a number of big CCGT projects off the ground, owing largely to a lack of foreign funds. Of the total generated electricity last ye...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Egypt Continues Subsidy Reform, Hikes Fuel Prices
...e chart). For the current 2017-18 financial year ending 30 June, Mr Molla says subsidies are on track to hit E£125bn ($7.0bn), well above the budgeted E£110bn, but slightly down in dollar terms on 2016-17’s E£115bn ($6.2bn) spend (MEES, 23 February). The increase in fuel prices could help ea...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Crude Official Selling Prices ($/B)
...*VS ICE BRENT FROM JULY 2017 PREVIOUSLY VS BWAVE....
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Total Gives $1bn Impetus To Iran’s Upstream Opening
...meframe was given, but on 10 May, CFO Massimo Mondazzi said “in Iran, we’re going to recover any outstanding [receivables] that we have and this will happen in 2017.” OIL AND GAS FIELDS TO BE OFFERED UNDER THE IRAN PETROLEUM CONTRACT GreenField pr...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Qatar Hydrocarbon Revenues Holding Firm in Q2 Despite Outages
...venues had soared in early 2017 thanks to the startup of the 146,000 b/d Ras Laffan 2 condensate splitter on 2 December (MEES, 2 June). But the impact of unscheduled maintenance on 146,000 b/d Ras Laffan 1 splitter in April is clearly shown by the latest data from Riyadh-based Jodi. However, the 15...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Baghdad-KRG Refining Deal Eases Light Products Shortfall
...nths of 2017. Diesel demand has averaged just short of 100,000 b/d in January-April 2017. Recent improvements in reducing gas flaring have significantly cut the need to burn diesel in power plants at times of peak electricity demand (see chart 4). Iraq’s refineries are relatively unsophisticated – th...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Saudi Grid Has 74.3GW Generating Capacity Available, Says SEC
...so been working on improving the operating efficiency of its power plants. Average thermal efficiency in SEC power plants was 35.6% in Q1 2017, the company says, compared with 34.5% in the same quarter of 2016. The utility claims that efficiency improvements in its oil-fired power plants saved th...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Saudi Crude Exports Down, Refining Runs Up, More Products Exports
...rrels (130,900 b/d) in April, the first fall since January. This boosted the total amount of crude Saudi Arabia supplied to the market to 10.077mn b/d, the first time it has exceeded 10mn b/d since December. 1: SAUDI ARABIA MONTHLY CRUDE BURN (‘000 B/D): 2017 CONSISTENTLY LOWER THAN 2016 SO...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Tunisia: Oil Blockades Ease But Costs Keep Rising
...sts for Tunisia continue to mount. From being a net oil exporter as recently as 2010, domestic output fell to a mere 46% of demand for the first four months of 2017 (see table & chart 1). Were it not for the fall in oil prices the situation would be more dire still – indeed for gas, although output is al...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Egypt Ends Forex Controls
...bsidies and streamlining public finances in order to cut the budget deficit. He also expects inflation to fall to just 13% during 2018 from the latest figure of 31%. Egypt’s parliament is currently debating the 2017-18 draft budget which envisages total spending of E£1,206bn ($67bn) and a deficit of E£37...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
Doha’s Diplomatic Dispute – The Financial Impact
...NKS Qatari banks’ foreign liabilities have risen over the last few years as they became increasingly dependent on foreign funding during a period of strong economic growth. Their foreign liabilities increased to QR451bn ($124 billion) in March 2017 from QR310bn at the end of 2015. According to a re...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
South Korea Credit Line Offers Relief For Iran’s Ailing Economy
...rliamentarian who represents the Majlis on the NDFI governing board. The Washington-based SWF Institute previously estimated reserves at $62bn. According to the 2017-18 budget bill, the government is required by law to allocate 30% from its oil and gas export revenue to the wealth fund, up from 20% in the bu...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017