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Israel-Iran Conflict Exposes East Med Gas Interdependence
...d blockade of Qatar between 2017-2021. Since then, relations have improved and Doha deposited $5bn in Egypt’s Central Bank in 2023 to help its ailing economy. In the energy sector, QatarEnergy has been slowly expanding its Egyptian upstream footprint since first entering in 2021 (MEES, 15 November 20...
Volume: 68Issue: 27Published at Fri, 04 Jul 2025 -
Oman LNG: Record Volumes Generated $6.5bn Revenues For 2024
...joying a profitable turn in recent years. Following the resurgence of upstream gas output since the 2017 startup of the 1.5bn cfd Khazzan/Ghazeer tight gas project, Muscat has been racing to expand its liquefaction capacity. Back in 2022 Oman LNG completed debottlenecking work at its three-train Sur fa...
Volume: 68Issue: 27Published at Fri, 04 Jul 2025 -
Kuwait Banks On Burgan Boost To Hit 3.2mn B/D
...test target is a downgrade from late-2021’s ambition of hitting 3.5mn b/d by 2025 (MEES, 29 October 2021). The bulk of Kuwait’s crude oil capacity comes from Kuwait Oil Company’s (KOC) operations. KOC capacity peaked at 3.15mn b/d in 2017/18, but slumped to just 2.629mn b/d by 2020/21 (MEES, 22 Oc...
Volume: 66Issue: 27Published at Fri, 07 Jul 2023 -
Oman Gas Reserves Upped 7% To 24tcf
...an’s 54,000 b/d Block 5 (MEES, 21 January). RECORD BREAKING GAS OUTPUT The latest reserves figure is only slightly below the record 25 TCF figure recorded for 2018 following discovery of BP’s giant Khazzan field on Block 61. Khazzan, which started up in 2017, is the centerpiece of Oman’s ga...
Volume: 66Issue: 27Published at Fri, 07 Jul 2023 -
Adnoc Awards Key Contracts For Handling Increased Gas Output
...nterpiece of Adnoc’s gas operations, and is central to its expansion plans. Adnoc Gas operates legacy facilities with 4.75bn cfd combined capacity, while the 1.34bn cfd Habshan 5 plant was inaugurated in 2017, bringing total capacity at the complex to 6.09bn cfd. Petrofac says that “comprising three gas co...
Volume: 66Issue: 27Published at Fri, 07 Jul 2023 -
Opec: Another Month, Another Missed Target
...rget. With oil prices more than $100/B, the country has every reason to maximize output if possible. But gone are the days when the country was able to produce more than 1.7mn b/d – a level it last reached in October 2017. Even with efforts to boost effective capacity over the past few mo...
Volume: 65Issue: 27Published at Fri, 08 Jul 2022 -
Shell Completes The Set For Qatar’s NFE Expansion
...Qatar rounded off partner selection for its $28.75bn 32mn t/y North Field East (NFE) LNG expansion project on 5 July by bringing Shell into the fold. Qatar’s LNG expansion has been hotly anticipated ever since it was first unveiled in 2017 (MEES, 7 April 2017), but amid a global energy crunch it...
Volume: 65Issue: 27Published at Fri, 08 Jul 2022 -
Taiwan Crude Imports Edge Back Towards Normal; Mideast Share Still Depressed
...er 71% for both Q1 and Q2 compares to an average of 78% for 2017-19. Add in the record low figure of 69.2% for Q4 last year and the last three quarterly figures are the lowest since 2010. *Saudi Arabia remains number one supplier but saw volumes fall 5% year-on-year and 11% quarter-on-qu...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Aramco Trading Caught In Crossfire Of UAE-Saudi Rivalry
...ding, its presence in Fujairah, it would be the second time in less than five years that geopolitical developments have impacted the emirate’s role as a regional hub. The UAE’s participation in the Qatar embargo from 2017 until January this year prevented Qatari vessels from calling at Fujairah. The up...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Sparks Fly As Saudi-Emirati Economic Competition Intensifies
...aditionally held a clear dominance. In the UAE, Abu Dhabi’s Adnoc is planning to invest $122bn over 2021-2025, much of which is dedicated to expanding its crude oil production capacity from around 4mn b/d to 5mn b/d by 2030. Just five years ago, before the first Opec+ cuts came into force in 2017, the UAE wa...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
GCC Rig Count Stuck At 10-Year Low Levels For 1H 2021
...e first half of the last decade Kuwait consistently had a higher rig count than the UAE. For 2017 and 1H 2018 the two were neck and neck. But the UAE has been more than 10 ahead for every quarter since Q4 2018, save Q2 and Q3 2020 when the UAE was more dynamic than Kuwait in cutting rigs and the gap fe...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Mauritania’s Tortue Delayed To 2H 2023 Amid 15% Cost Hike
...llow majors TotalEnergies, Exxon and Shell snagged swathes of Mauritania acreage in 2017 and 2018, they to date have drilled just one well between them – TotalEnergies’ August 2019 ‘Richat’ dry well on block C-9. TotalEnergies has since relinquished both this block and two others leaving it with just tw...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
QP, Exxon Ramp Up Barzan Gas Output
...e onshore processing facilities, which has forced a complete rebuild. The Barzan partners had eyed 2017 start-up until they detected a gas leak in the offshore pipeline network. QP CEO Saad Sherida al-Kaabi told MEES in late 2017 that “we have had issues with the pipeline. That is not a secret. Th...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Adnoc Shuts Onshore Bab Field For Maintenance
...the latest 370,000 b/d figure indicates that it was running around 50,000 b/d below capacity prior to shut-down. Adnoc is working to expand capacity at Bab from 420,000 b/d to 450,000 b/d under a contract awarded in 2017 to CPECC, the engineering subsidiary of Chinese state firm CNPC (MEES, 17 No...
Volume: 63Issue: 27Published at Fri, 03 Jul 2020 -
Oman LNG Exports Dip In 1H 2020 Ahead Of Capacity Expansion
...rean buyers holding the rest). Production jumped from 8.60mn tons in 2017 to 10.4mn tons in 2018 – matching nameplate capacity – and last year the firm’s three LNG trains produced a record 10.7mn tons. “We reaped the rewards from investments in rejuvenation, debottlenecking, and the power project,” oi...
Volume: 63Issue: 27Published at Fri, 03 Jul 2020 -
Energean Retains East Med Focus In Cut-Price, Cut-Scope Edison Deal
...9bcm/y Reggane, which started up in December 2017 (MEES, 22 December 2017), and Norwegian North Sea discoveries – were ones for the future, Abu Qir is in steep decline. Abu Qir output (100% Edison) was 45,500 boe/d (225mn cfd gas and 5,500 b/d condensate) for 2019. This is well down from 270mn cfd in 2017...
Volume: 63Issue: 27Published at Fri, 03 Jul 2020 -
Aramco Committed To Crude-to-Chemicals But Delays Development Decision
...chnologies with a cracker (MEES, 1 December 2017). CRUDE OIL TO CHEMICALS CONCEPT SOURCE: MEES. ...
Volume: 63Issue: 27Published at Fri, 03 Jul 2020 -
Egypt’s Economy & Energy Sector Reel From Covid-19
...rch alone, and a further $3bn in April and $1bn in May, to end the first five months at just $36.0bn, down almost $10bn on the start of the year and the lowest figure since 2017 (MEES, 12 June). The end-May figure would have been lower were it not for the mid-month receipt of $2.77bn in emergency IM...
Volume: 63Issue: 27Published at Fri, 03 Jul 2020 -
Saudi Sees Rare Trade Deficit As Oil Earnings Collapse
...venues therefore dropping steeply to $3.5bn, their lowest level since September 2017, oil’s share of the mix remained high at 64.7%. RECORD HIGHS, RECORD LOWS April was in some ways a triumphant month for Saudi Arabia. As the previous-Opec+ production restrictions disintegrated, state en...
Volume: 63Issue: 27Published at Fri, 03 Jul 2020 -
US Oil Stocks* Hit All-Time High As Demand Collapses
...JUNE) AND MAY DIFFER. SLIGHTLY FROM THE YET-TO-BE-PUBLISHED OFFICIAL END-MONTH FIGURES. **26 JUNE CRUDE STOCKS ARE JUST BEHIND MARCH 2017 (538.6MN BARRELS) AS THE HIGHEST END-MONTH FIGURE ON RECORD BUT 19 JUNE SET A WEEKLY RECORD OF 540.7MN BARRELS. SOURCE: EIA, MEES. SEE ANALYSIS, P11. ...
Volume: 63Issue: 27Published at Fri, 03 Jul 2020