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...

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...

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...

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...

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...

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...

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

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...