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New Partnership Expands Qatar’s Footprint In The US
...tween Chevron and Phillips 66, says that FID on the petchems facility is expected to be “no later than 2021.” Mr Kaabi is keen to fix this aberration and a move into the US upstream sooner or later looks probable. He told MEES in late 2017 that “We are working on buying upstream assets and reserves in...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019 -
Egypt: Ain Sukhna Hub Plans Gather Pace
...pacity is rising to 7.2mn barrels (see p7). This also includes expansion at Sidi Kerir, where Aramco is to lease 222,000 m³ of gasoil storage. EGPC receives roughly 500,000 barrels per month of crude oil from Saudi Aramco, under a deal which began in late 2017, while it also receives varying rates of tr...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019 -
Israel Bid Round Flops
...cal firm Israel Opportunity. It is yet another disappointing turn-out for Israel, just 12 months after a previous bid round flopped (MEES, 24 November 2017). Hopes were raised that US major ExxonMobil, which has made recent forays into Egypt and Cyprus, would take part after it purchased a $50,000 da...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019 -
Aramco Trading Volumes Surge, With Crude Playing Enhanced Role
...st year saw it emerge as an increasingly active, albeit modest in scale, crude trader. Overall liquids volumes rose from 1.40mn b/d in 2017 to 2.17mn b/d in 2018 (see chart), and the firm says that it exited the year in excess of 4mn b/d. Volumes rose to 4.5mn b/d in 1Q 2019 and are planned to reach 6m...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019 -
Libya Adds Powergen Capacity But Remains In The Dark
...return but so far, they have been unwilling, fearing for the safety of their staff. Turkish contractor ENKA and turbine provider Siemens pulled their staff out of the Ubari project back in 2017 after four workers were kidnapped and they haven’t returned since (MEES, 24 November 2017). While Ge...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019 -
Saudi Oil Sector Feeling The Strain Of Opec Cuts
...nsiderably higher than in recent years thanks to a massive expansion program. Gross exports are averaging 1.44mn b/d this year, substantially less than 2018’s record 1.97mn b/d, but still equal with 2017 for the second highest on record (see chart 3). On a net basis, refined products exports are on track to...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019 -
Saudi Arabia Crude Exports Fell To A 19-Month Low In May ('000 B/D)
...CHANGES EXPRESSED IN PERCENTAGE POINT TERMS WHERE ORIGINAL FIGURES ARE PERCENTAGES. *EXCLUDES FIELD LPG (650-700,000 B/D). **NAPHTHA REFINERY OUTPUT INCLUDED IN 'OTHER' PRODUCTS TO DEC 2017 (479,000 B/D FOR 2017). ^PRESUMES ALL FUEL OIL CONSUMPTION IS BURNT IN POWER PLANTS. SOURCE: JO...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019 -
Iran Struggling To Implement Crtitical Economic Reforms
...reduce absolute poverty, $383mn for heath care and $480mn to subsidize wheat purchases. In 2017-18 the government’s paid $12.7bn in cash handouts for over 70 million Iranians (MEES, 20 July 2018), a much higher figure in dollar terms than the allocation for this year, mainly because of a stronger ri...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019 -
Fujairah Bunkering Stuggles
...opolitics as the UAE’s embargo on Qatar since July 2017 meant it could no longer service Qatari-flagged vessels. As well as to Singapore, Fujairah has been losing trade to its regional rival Sohar in Oman, where plans for LNG bunkering progressed this week (see p2). ...
Volume: 62Issue: 29Published at Fri, 19 Jul 2019