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China’s CNOOC Enters Key Abu Dhabi Concessions
...tablishment of the Al-Yasat JV (Adnoc 60%, CNPC 40%) to explore for oil (MEES, 2 May 2014). Production from Al-Yasat’s Bu Haseer field began in March 2018 (MEES, 27 April 2018). China’s presence in Abu Dhabi then picked up considerably in 2017 when CNPC and Chinese private-sector firm CEFC bought 8% an...
Volume: 63Issue: 31Published at Fri, 31 Jul 2020 -
UAE Emerges As Libya’s Top Condensate Customer
...t, whilst Abu Dhabi sees Libya through a geopolitical prism, for Dubai it’s just business. And at least for now, Abu Dhabi appears to be displaying a level of toleration not afforded to the two previous key suppliers of condensate to Dubai’s Enoc: Qatar until the 2017 blockade (MEES, 9 June 2017), an...
Volume: 63Issue: 31Published at Fri, 31 Jul 2020 -
Delek’s Leviathan Endgame: Chevron Entry, Debt Mountain Make Sale All But Inevitable
...cember 2017), may well be interested. Indeed, if Chevron comes to be seen as having escaped lightly in geopolitically terms from its decision to enter Israel, this may well lead other majors and large IOCs to see the country in a different light. For Total and Eni, with Lebanon exploration and a he...
Volume: 63Issue: 31Published at Fri, 31 Jul 2020 -
Oil Services Firms: Mideast The Relative Bright Spot Amid North America Carnage
...05, 32.8%) for the first time. And whilst Baker Hughes has since 2017 not split oilfield services revenue by region (aside from ‘North America’ and ‘International’), the Middle East with Asia has almost certainly overtaken North America’s share here too given that the International share rose to a re...
Volume: 63Issue: 31Published at Fri, 31 Jul 2020 -
Oman Refining Output Collapses To Three-Year Low In Q2
...port revenues for the financially challenged sultanate. Oil products exports brought in $2.71bn and $2.41bn in 2018 and 2019 respectively (a not insignificant 10% of total oil and gas export revenues), up from just $1bn in 2017 (MEES, 27 March). But, like many other facets of the oil industry, the co...
Volume: 63Issue: 31Published at Fri, 31 Jul 2020 -
Solar Prices Fall To New Record Low With Abu Dhabi Award
...ES, 13 January 2017). Despite the growing momentum, a long path lies ahead. MEES calculates that by end-2022 renewables will account for around 12% of the UAE’s powergen capacity. EXPERIENCED PARTNERS All four members of the consortium have a track-record of operating within the UAE’s de...
Volume: 63Issue: 31Published at Fri, 31 Jul 2020 -
Saudi Budget Deficit Balloons In Q2 As Revenues Crash
...gan releasing quarterly data in 2017 (see chart 2). The previous low in the series was 3Q 2017’s $37.89bn. The biggest fall was for oil revenues, which fell 45% from $46.6bn in Q2 last year to $25.5bn in the same quarter this year. Despite the steep fall, the share of oil in the overall revenues ro...
Volume: 63Issue: 31Published at Fri, 31 Jul 2020