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Yemen: OMV’s Risky Reentry Pays Dividends
...ude exports come from Blocks 10 and 14 in the east of the country (MEES, 15 September 2017). State firm PetroMasila operates the blocks, using some of the crude for local power generation and sending the rest via a 138km pipeline to Ash Shihr where it is exported to Asia. Exports in 2017 averaged 44...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Iraq Takes On Mansuriya
...er development. Kuwait Energy, in its 2017 financial statements, bemoaned the Iraqi government for having “so far refused to entertain any request for change in terms.” It reclassified the field’s 2P reserves as contingent resources whilst impairing the asset in full (MEES, 25 May). The oil ministry sa...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Libya: Companies Crave Elusive Stability
...,000 b/d for 1H 2017. However the firm is clearly not banking on these gains continuing. “Production in Libya is forecasted to be at a similar level to that of 2017,” the firm said on 2 August. Average 2017 output was 25,000 b/d. Repsol also continues to insert the caveat that its 2018 global output fo...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Iran Suffers Korea Export Blow Ahead Of Sanctions
...d been an increasingly important customer for Iran and took record volumes in 2017. The 361,000 b/d that South Korea imported from Iran over the course of 2017 was more than any country bar China and India. This marked the third consecutive year in which the country has held the number three sp...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Iraq: Saudi Power Play As Protests Continue
...sengaged entirely, creating a vacuum on which rival Iran capitalized. Riyadh is now belatedly seeking to engage, particularly since now-Crown Prince Muhammad bin Salman began deciding the kingdom’s foreign policy in 2015 (MEES, 27 October 2017). Though few concrete developments have so far ma...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Cash-Rich Gulf State Refiners Seek Overseas Capacity, Integration
...18mn b/d, while refinery throughputs have risen from 5.41mn b/d in 2009 to a record 7.18mn b/d in 2017 (see charts). Gulf refinery throughputs averaged around 6.97mn b/d in the first half of 2018 but this figure is likely to increase as consumption of fuels for both power generation and transport rises du...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Egypt’s New CCGTs Take Pressure Off Power Generators
...ypt’s installed generating capacity close to 50GW (see table). This is two-thirds higher than 2017’s record peak power load, with demand topping 30GW for the first time last July. With such a comfortable excess, EEHC can now afford to shut down some older and more inefficient power plants, at least fo...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Qatar Export Revenues Hit Three-Year High Despite Continued Embargo
...position in June 2017 (MEES, 9 June 2017). Internationally flagged vessels can still load up with cargoes from Qatar’s oil and gas terminals before calling on ports from embargoing nations – such as Saudi Arabia’s Ras Tanura or the UAE’s Das Island. Moreover, Qatari vessels can easily refuel at Oman’s So...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Kuwait Fiscal Deficit Falls By 19% To $16bn For 2017-18
...-year real terms fall in its budget deficit for the year to 31 March 2018. The Ministry of Finance this week announced that the deficit fell from $19.5bn to $16bn. Predictably the deficit was much smaller than the $26.1bn laid out in the original 2017-18 budget law which underestimated oil prices an...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Brazil Crude Output And Exports Flatter To Deceive (Mn B/D)
...KE A MAJOR 2H18 REBOUND IF 2018 VOLUMES ARE TO EVEN MATCH 2017’S RECORDS SOURCE: ANP, MEES....
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Iraq Signs Baker Hughes Gas Deal
...e use of a 200mn cfd modular gas processing plant at Nasiriya. An initial contract was penned more than a year ago in July 2017 (MEES, 21 July 2017). Seeking to assuage local citizens who have joined nationwide protests, Oil Minister Jabbar al-Luaibi stressed that the work would create 500 jobs an...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018