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LNG Prices Remain Under Pressure Amid Buoyant Supply, Lackluster Demand
...cond half of 2017. However it is not inconceivable that monthly takings could overtake number one Japan at some stage later this year: they came close in a pre-winter buying spurt last November, and lagged Japanese takings by just over 1mn tons for both April and May. Projections in the IEA’s latest ‘Ga...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019 -
Houthis Expose Saudi Arabia’s Growing Desalination Dependency
...pulation’s need for potable water. This dependency is growing at a rapid rate. The latest data from state regulator ECRA puts demand over the course of 2017 at an average 6.73mn m³/d, up a massive 9.9% year-on-year (see chart). Demand has almost certainly continued to soar over the past 18 months. Me...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019 -
GCC Grid: Could An Iraq Link Give It Relevance?
...ates all have reliable domestic grids. In a bid to gain relevance the GCCIA is looking outside of the six-country grouping. Certainly the GCCIA needs to be rejuvenated somehow. Total electricity transfers last year amounted to just 1.24TWh, down sharply from 2017’s record 1.63TWh. The key reason fo...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019 -
Aramco Crude Oil To Chemicals Vision Takes Shape
...chnology; and 2025 may be a push as Aramco’s COTC technologies are so far not commercialized. Aramco and Sabic were developing crude-to-chemicals technologies separately before they signed a memorandum of understanding (MoU) in November 2017 to develop the COTC plant under a joint venture. Sabic filed a pa...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019 -
Algeria Calls Time On Quantitative Easing
...non-conventional financing is over” confirming a policy shift indicated by the Bank of Algeria in a 1 April research note. This said, the program, initiated in September 2017(MEES, 15 September 2017) was “unjustified right from the start” with “conventional financial means yet to reach their li...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019 -
Egypt’s Freshly-Minted 2019-20 Budget Promises More Subsidy Cuts
...gins on 1 July. Key to Cairo’s economic plans are further cuts to spending on oil product subsidies. Latest official forecasts peg such spending at E£90bn ($5.1bn) for the 2018-19 financial year (ending 30 June), down 25% from 2017-18 and less than a third of the record $18.6bn spend seen in 20...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019 -
Exxon, Total Expand In Med
...Total (40% operator), ExxonMobil (40%) and Greece’s state Hellenic Petroleum (20%), have finally put pen to paper with Athens to take two deepwater offshore blocks, covering a total area of 39,926km², to the west and southwest of Crete. The award was initially made in 2017 but crippling Greek bu...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019 -
Qatar: Long-Delayed Barzan Gas Approaches Start-Up
...shed startup well beyond the initially planned 2014 (MEES, 12 October 2012). Mr Kaabi told MEES in late 2017 that the latest delays were “because we have had issues with the pipeline. That is not a secret. The contractor did not perform as well as we wanted them to…we are proceeding to rectify the is...
Volume: 62Issue: 26Published at Fri, 28 Jun 2019 -
Can Oman Capitalize On Opec+ Production Deal?
...ok effect in January 2017, last week’s decision to reduce over-compliance means Oman has freedom to increase output (MEES, 22 June). The Joint Ministerial Monitoring Committee (JMMC) will “coordinate amongst the countries with spare capacity” says Saudi Energy Minister Khalid al-Falih, adding th...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Sharjah Launches Debut Licensing Round
...ring 2017 which covers the whole concession area. The smaller 264km² Area B was also fully covered by 3D seismic in 2017. However, the third area, Area C, while much larger at 1,184km² only has a small area of 3D seismic shot in 2013 along the border with Area B. Any successful bidders will be re...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Eni Ramps-Up Zohr, Mubadala Farms In
...this year(MEES, 12 May 2017). This will mean Cairo will be able to bring an end to LNG imports which began in April 2015. Mr Molla signalled that a six-cargo tender awarded to trading firms Trafigura, Gunvor and Vitol for deliveries in July and August will likely be the last. “I don’t th...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Opec’s Monitoring Committee Takeover, Instability Promote Supply Concerns
...s expanded in November 2017 to officially include Saudi Arabia, which also shares chairmanship with Russia. The other members are Venezuela, Algeria, Kuwait and the UAE alongside non-Opec member Oman. As Saudi Energy Minister Khalid al-Falih said following the 23 June non-Opec meeting, “it just so ha...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Libya Port Attacks Derail Oil Export Prospects
...December 2017), resurgent political violence has torpedoed Libya’s oil sector. Militias commanded by Ibrahim al-Jathran attacked the Ras Lanuf and Es Sider oil terminals in mid-June, causing damage that the National Oil Corporation (NOC) describes as “catastrophic.” The Libyan National Army (LN...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Adnoc Joins Aramco In $44bn Indian Refining And Petchems Venture
...dian firms will hold 50% equity (IOC with 25%, BPCL and HPCL each with 12.5%). RRPCL was formed by the Indian firms in June 2017 to develop a 1.2mn b/d refinery comprising three 400,000 b/d crude distillation units (CDUs), which will be integrated with an 18mn tons/year petchems complex. While Ad...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Egypt Eyes Coal-Fired Power To Reduce Gas Reliance
...$6.1bn per GW of capacity, compared with $4.4bn or $730mn/GW for the coal-fired plant, suggesting that prestige and not just fuel diversity is a factor in government’s power plan (MEES, 15 December 2017). GAZ GUZZLERS Despite the move to broaden its powergen fuel options, gas-fired capacity co...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Qatar & Turkey: Brothers In Arms?
...The June 2017 Qatar embargo threw a spotlight on the deepening Doha-Ankara relationship. But trade volumes are modest, and the most ambitious contract to-date is a murky $5.2bn energy sector deal which raises more questions than answers. The 24 June re-election of Turkish President Recep Ta...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Energean Files Karish Development Plan; Bidding Delayed, Again
...d connected to the same FPSO, Energean says. CEO Mathios Rigas says his firm hopes to receive “approval of the FDP as soon as possible in order to be able to reach Final Investment Decision by the end of 2017.” However, investment will not go ahead without more sales deals and – given co...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Morocco Looks To Cut Reliance On Algerian Gas
...Morocco imported 109mn cfd of gas from Algeria in 2016 and Q1 2017, some 93% of the country’s consumption. In theory there is scope for these volumes to rise – gas provides only 6% of Morocco’s primary energy demand. But, in practice, fractious relations between the two Maghreb neighbors – th...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Iran Expands Crude Export Infrastructure
...ables tankers to “berth at nine newly overhauled loading arms without restrictions or technical hurdles” according to Iran Oil Terminals Company (IOTC). Iranian oil exports have ramped up since sanctions were eased in January 2016, with volumes in the first five months of 2017 up 30% year-on-year at 2....
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Oman Postpones Misfah With Slowing Demand Growth
...ectricity, from over 240m3/MWh in 2016 to below 190m3/MWh for 2020 and beyond (see chart). Gas consumption in power plants fell for the first time in three years in 2016 to 7.99 bcm (770mn cfd). In the first five months of 2017 it has remained flat year-on-year at 710mn cfd). While OPWP says that its el...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017