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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 -
Gulf Crude Shipments Fall In Q2, But From Record Levels
...54mn b/d for January-May 2017 were up by a whopping 13.8% on the same period a year earlier (in the process leaving the US, at 8.15mn b/d for January-May, well behind as the world’s top importer). This massive overall growth means that though volumes from Opec countries rose by 10.9%, and those from the Mi...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Qatar’s Hydrocarbon Politics Sends Message to Saudi Arabia, UAE
...not under threat, with the emirate continuing to receive LNG cargoes from Qatar. But Dubai took just under 1mn tons last year, and it’s very possible that this will fall to zero in 2017. Egypt took a bumper 4.78mn tons, but its alliance with Saudi Arabia and growing domestic output means a fall is hi...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Kuwait Trade Surplus Falls In Q1
...Kuwait recorded a $5.3bn trade surplus in the first quarter of 2017, up $4bn on the same period in 2016. But as this is primarily down to oil revenues of $12bn, falling crude prices in Q2 imply an imminent drop-off. At $12.1bn, oil revenues represented 89% of total exports in Q1 (see ta...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Cairo Fuel Price Hike
...bsidy spend figure assumptions for both the 2016-17 and 2017-18 budgets (MEES, 9 June). The latest figure given by Mr Ismail for the still-not-approved 2017-18 budget (for the year beginning 1 July) was E£145bn on 6 June. But following this latest round of fuel price increases the expected 2017-18 fu...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Algeria: Deficit Down As IMF Warns On Over-Zealous Consolidation Plans
...venues rose by 43% ($4.5bn) to $14.9bn for the first five months of 2017 (see table). But strong oil price gains in early 2017 have since partly been reversed (see p16). Prices for Saharan Blend averaged around $47.5/B in June, in line with Brent, the futures curve for which is currently averaging ju...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
US Oil Output Looks To Have Topped 2015’s Previous Record, Set To Break 15mn B/D In 2018 (Mn B/D)
... *APR & MAY 2017 FIGURES ARE PROVISIONAL; FORECASTS (F) FROM JUNE 2017. ^ETHANOL, BIOFUEL, MTBE. SOURCE EIA, MEES CALCULATIONS....
Volume: 60Issue: 26Published at Fri, 30 Jun 2017