Qalaa Looks To Trim Debts

...Cairo-based energy-focussed investment firm Qalaa Holdings – formerly Citadel Capital – plans to reduce its debt to E£4bn by the end of 2017, having already reduced its money owed from E£10bn in 2014 to E£6.5bn ($735mn) at present, according to MD Hisham al-Khazindar. Qalaa needs to slash it...

Egypt To Start Up Key Ethylene Plant, If It Can Find The Gas

...April. MEES expects Egyptian supply will bottom out at 3.6bn cfd in 2017. Egypt is looking to new field developments and LNG imports to boost Egypt’s gas availability in the medium term, but the shortfall is likely to persist until the end of the decade at least (MEES, 17 June). Egas estimates th...

Kuwait To Hike Gas-Fired Capacity After Bagging More LNG

...finery (MEES, 16 October 2015).  KUWAIT'S POWER & WATER PROJECTS Plant Fuel GW '000 m/d Al-Zour North 1 (2016) Gas 1.5 486 Al-Shegaya (2017) Solar 0.05 - Al-Zour No...

Will Venezuela Join Libya & Nigeria In OPEC's ‘Long-Term Outage’ Club?

...rk “would probably need [prices] to be about $10/B higher for some period of time.” “Our view, at this point in time, is that this probably is a 2017 event,” he adds. A major boost to US crude output is not only dependent on oil prices reaching and possibly surpassing $60/B. Activity could be co...

Mideast Sovereign Wealth Funds Learn To Adapt To Low Oil Price World

...nth with global supply and demand seemingly moving more or less into balance in the second half of this year. However some analysts caution that this balancing is more apparent than real, and that once unplanned outages fall from record levels the market will again move into surplus until well into 2017...

Saudi Post: 2017 Sell-Off

Qatar Downgrades Growth Forecast, But LNG Revenue Projection Looks Bullish

...ril (MEES, 3 June). Qatar’s gas output is set to rise: QEO projections assume the 1.4bn cfd Barzan project comes onstream in the second half of the year and reaches full capacity in 2017. “Manufacturing will also grow, as the additional gas output will provide a step increase for the year,” the re...

Iraq To Revise Pipeline Route To Jordan

...aborne imports. The Anbar instability has obviously delayed the project. Under the original plans, first oil through the pipeline was expected by the end of 2017 or early 2018. The original plans divided the project into two parts, a 2.25mn b/d BOOT contract and a 1mn b/d section from Haditha to Aq...

Egyptian Refiners Award Contracts For New Gasoline Units, Plan Coker Rehab

...anned:       Midor Expansion Alexandria 60 2017 Alexandria Exp Alexandria 100 na Sukhna Ain Su...

Egypt Completes Smaller Power Plants Amid Major Capacity Hike

...ntract will be €1.6bn, the company adds. Elsewedy, whose Beni Suef project is also valued at €2bn, says its share of the deal will be worth €785mn. The company says the plant will begin delivering electricity by the summer of 2017, with project completion expected within 38 months of financial cl...

Egypt’s Taqa Plans To Double Capacity To Help Cairo Bridge Power Shortage

...oject is part of the government’s plans to supply 20% of power from new and renewable sources by 2020. Cairo plans to increase PV and wind capacity to 4.3GW by 2017. The ministry of electricity has approved the provision of land, and Taqa has been cleared to carry out preliminary studies and outline th...

Major Declines Ahead For Kuwait Oil Production, Says IEA

...line with its effective capacity; indeed, Saudi Arabia is the only producer with significant excess capacity, leaving global markets potentially vulnerable to an output shock. The only increment that the IEA foresees in the forecast period is 60,000 b/d in 2017 from the Ratga heavy oil project in...

Oman Seeks 2.6GW Capacity For MIS Grid

...rms under independent power producer (IPP) agreements. The deadline for RFQ submissions is 3 August. OPWP says that, out of the 2.6GW of capacity sought, 740MW is to be operational for summer 2017 and the remaining 1.86GW for summer 2018. OPWP’s current seven-year plan says that “following an ex...

KRG Drops Turkish Six-Block Bombshell; Disputed Areas Included

...the currently contracted 2017, Shell sees around 600,000 b/d by that date as both more realistic and better as regards reservoir management, informed sources say. Final plateaus would only be reached after significant testing of the impact of water injection on the Majnoon reservoir probably after 20...

Shale Plant Go-Ahead

...man.   The 500mw plant will start generating electricity for local consumption in 2017 and is expected to reduce Jordan’s expenditure on oil products imports for power generation by more than JD350mn ($490mn) a year, Enefit says.   The plant will burn crushed oil shale in twin circulating fl...

Abu Dhabi Delays Target

...fectively acknowledgment that a long-standing 3.5mn b/d production goal – set in the last decade – has been pushed back even further, to 2020.   The target, originally 2015, is now officially 2017, although MEES already reported last year that it was unlikely to be achieved before 2019 (MEES, 21 De...

Korea’s KNOC In Line For ADCO Stake Despite Limited Experience

...increase production at the offshore Upper Zakum field from 500,000 b/d to 750,000 b/d. South Korean engineering firms will play a major role in Abu Dhabi’s plans to lift overall oil production to 3.5mn b/d, a target that has slipped to 2020 from 2017.   South Korean engineering firms have be...

New KNPC Chief And SPC Guidelines Revive Hopes For Kuwait Mega-Projects

...be taken before 2013. Potentially the project could boost Kuwait’s share of the additional Eocene 120,000 b/d by 2017. Meanwhile, KPC is also planning refineries in Vietnam (200,000 b/d), Indonesia (200,000-300,000 b/d) and China ($9bn, 300,000b/d), and is studying using Kuwaiti heavy crude as fe...

Socar Looking To Take Equity In Winning Shah Deniz 2 Export Pipeline

...mpany will look to buy shares in the pipeline consortium selected to deliver the 10 bcm/year of gas to Europe after 2017 from the Shah Deniz Stage 2 gas field development. He said that Socar was willing to purchase shares in the winning consortium “in order to assist in financing, to assist in op...

End Of Turkish-Azeri Impasse Starts Race For Shah Deniz 2 Gas

...2017. According to this second agreement, Turkish imports will start at 2 bcm/y in 2016-17, subsequently rising to 6 bcm/y by 2019. Of this 7 bcm/y from Shah Deniz 2, 6 bcm/y will be allocated to Botas while the remaining 1 bcm/y will be delivered to Turkish petrochemical group Petkim. It is un...