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Aramco Advances Gas Development Agenda As IPO Plans Fade Further
...Saudi Aramco highlights prioritization of gas development and enhanced flexibility in the firm’s 2017 Annual Report. Few words were reserved for the planned IPO, hardly a surprise as the long-suffering process appears to have finally been killed off. Saudi Energy Minister and Aramco Ch...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Chevron’s Basra Deal
...chnical services contract (TSC) which have deterred foreign firms’ interest for years (MEES, 22 September 2017). Iraq Oil Report writes that the agreement will see Chevron study and potentially increase production at Luhais, Tuba, and Subba fields—all of which are state-run. BOC-operated Luhais and Tu...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Libya: Fractured Institutions Fail To Distribute Oil Revenue Gains
...e 10,000 b/d Hamada field in the southwest. Production from the Eni-operated El Feel (Elephant) field is back at current capacity of around 77,000 b/d having been shut since 23 February due to a dispute over salaries (MEES, 10 November 2017). Libya’s largest oil concession, comprising the Sh...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Libya’s Ongoing Institutional Splits
...y 2017). The HOR recognizes Ali Shamekh as LIA head. Libyan Audit Bureau (LAB) • Increasingly significant in setting and monitoring economic policy in Libya, particularly in light of the stand-off between the PC and HOR. Cooperation between the bodies is essential to efforts to turn ar...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Syria: Upcoming Idlib Campaign Disturbs Power Balance
...vements on the front suggest the campaign could commence any day. But unlike Mr Assad’s other gains, which involved battering increasingly stretched and isolated rebel factions, regional player Turkey has a keen interest in Idlib. Under a 2017 Astana agreement between Moscow, Tehran and Ankara, Turkey wa...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Aramco JV Takes Saudi Petchems To ‘Next Era’ With Bigger Projects Planned
...Aramco is squeezing more value out of Saudi oil and gas through two key petchems JVs: Sadara, and the near-complete Rabigh-2. Saudi Aramco, with the belated release of its 2017 Annual Review describes itself as “the world’s leading integrated energy and chemicals company,” which besides pr...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Gulf Crude Burn Down Sharply In 2018, But Fuel Oil Is The Key Replacement Fuel
...TA FOR 1H18. 1H18 REGIONAL TOTALS AND FULL YEAR FORECASTS PRESUME VOLUMES LEVEL WITH 2017. **PRESUMES ALL FUEL OIL CONSUMPTION IS IN POWER PLANTS. EXCLUDES DIESEL. SOURCE: JODI, MEES ESTIMATES & CALCULATIONS....
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Oman LNG Taps New Markets
...Oman’s LNG exports* to its six key Asian customers hit a five-year high of 4.39mn tons for 1H 2018, up 3.2% on 1H 2017, in turn the highest since 2013 (see chart). This comes as the country’s gas production has soared to record levels (MEES, 17 August). These six key customers between them ac...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Yemen: Japan Takes Omv Cargo
...ptember 2017), with output coming from state-operated Blocks 10 and 14 in the country’s Masila basin. Exports averaged 42,300 b/d in 2017 but a dearth of by-country import data since March from key buyer China complicates more recent estimates. ...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Total Exits Iran’s South Pars
...French major Total on 20 August confirmed its withdrawal from a $4.8bn 20-year deal to develop the 2bn cfd Phase 11 of Iran’s South Pars gas field (MEES, 7 June 2017), saying it was unable to secure a waiver from US sanctions (MEES, 10 August). Total, as operator with 50.1%, said in May it ha...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Norway LNG Returns To Kuwait
...Kuwait may have halted its submissions of gas data to JODI – and of oil – but despite the dearth of data, summer imports of LNG for power generation show no sign of easing. While Qatar has traditionally been the dominant supplier, providing 43% of the 3.5mn ton total in 2017, Kuwait has so...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Record Products Sales And VAT Bolster Saudi Economy
...ar. The narrowing budget deficit came despite Riyadh following through with its pledged spending spree (MEES, 22 December 2017). The $75bn Q2 outlay was $19bn more than 2Q 2017, although still well below 4Q 2017’s $96bn. Overall, the kingdom ran an $11.1bn deficit over the first half of 2018 pu...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018