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Saudi Oil Export Revenues Hit Three-Month High In June
...orage hub at Egypt’s Sidi Kerir for onwards export) averaged 325,000 b/d last quarter according to Kpler, the highest such figure in records back to 2017. This helped drive an increase in total export revenues from European sales in Q2 to $9.9bn, the highest quarterly figure since the same period la...
Volume: 68Issue: 35Published at Fri, 29 Aug 2025 -
Egypt Launches Upstream Charm Offensive Alongside 12-Block Bidding
...hr’ across both this and its other nearby acreage (MEES, 24 March 2017), including 2022’s Fagr-1 dry hole on the on-offer Block 6 (South Zohr). Zohr was discovered in a carbonate build-up in the Cretaceous formation. And it is in the Cretaceous that Egas flags up 10.7tcf of risked resource on the bl...
Volume: 67Issue: 35Published at Fri, 30 Aug 2024 -
Egypt Refinery Upgrades Edge Forward
...west figures since 2017, whilst the latest figures for June are only slightly higher (see chart). For 2023, national throughputs of 530,000 b/d were just 70% of the country’s then primary distillation capacity of 760,000 b/d. The most recent by-company runs figures, for the 2022-23 financial ye...
Volume: 67Issue: 35Published at Fri, 30 Aug 2024 -
KRG Project Delays Stunt Upstream Growth
...eld and Kirkuk’s and Avana Dome in late 2017, Iraqi Kurdistan’s upstream sector has since brought several key projects online due both to regularized KRG payments and higher oil prices. MEES estimates that KRG output jumped from 310,000 b/d at end-2017 to 492,000 b/d two years later (MEES, 8 November 20...
Volume: 63Issue: 35Published at Fri, 28 Aug 2020 -
Dubai’s Coal Push Upends Abu Dhabi’s Clean Energy Strategy
...January 2017). This plan is probably unrealistic, but it signals aspirations for a major change in energy policy. Examined closely, the changes suggest a fragmentation in energy policy. The UAE is simultaneously pursuing incompatible choices in clean and dirty power. Why? Some of the ch...
Volume: 63Issue: 35Published at Fri, 28 Aug 2020 -
BP, Shell Step Up Egypt Offshore Action
...the east. At North Damietta’s Atoll field, BP plans to drill a fourth development well in 1Q 2020 hiking output from 300mn cfd to 400mn cfd. Discovered in 2015, ‘Phase-1’ Atoll output began in December 2017. Development is also ongoing at the nearby Qattameya field, discovered in March 2017...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Algeria Touat: Imminent
...mpleted in 2016 (MEES, 25 August 2017). The Touat delay has forced Neptune to revise down its overall net output guidance for the year to 150-155,000 boe/d from 155,000 boe/d targeted in its Q1 results. Neptune’s 35% project stake will give it “around 16,000 boe/d net production at plateau,” a level th...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Total Lauds Latest QP Tie Ups
...ighboring blocks 2913B and 2912. QP will take 30% of Block 2913B, with Total retaining a 40% operating stake alongside private firm Impact Oil (20%) and state firm Namco (10%). The block lies 150km west of (ie further offshore from) the Kudu Gas field and Impact says that 3D seismic data acquired in 2017 in...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Mauritania: Total Wildcat
...cember 2017), and Shell with two blocks last year (MEES, 27 July 2018) also see Mauritania as a key part of their international exploration portfolio. As for the Pacific Santa Ana, following the completion of Total’s C-18 well, it will plug and abandon former production wells at the Chinguetti field un...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Saudi Bags Growing Share Of Key Chinese Market
...finers Sinopec and PetroChina shunning Iranian volumes, the bulk of recent arrivals, imported by state trader Zhuhai Zhenrong, appear to have gone into China’s strategic petroleum reserve (SPR), in particular the 19mn barrel site at Jinzhou northeast of Beijing which was completed in 2017. Data in...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Aramco Eyes Chinese Take-Away From Sabic Purchase
...e polyurethane components and other chemicals manufactured at the Sadara joint venture plant of Aramco and US firm Down Chemical in the Saudi downstream hub of Jubail (MEES, 28 July 2017). Indeed China, and Asia more generally, are also key buyers from Saudi refineries. However, the focus has be...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Bahrain’s Oil Sector Optimism Spreads To Powergen
...ve existing grid-linked power plants delivered 17.8TWh of electricity in 2018. Additions from the Alba power plants and the GGC grid took total electricity delivered to the grid to 18.0TWh. Bahrain’s peak load fell slightly to 3.44GW in 2018 from a record 3.57GW in 2017, although the trend in recent ye...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Saudi First Half Export Revenues Slump $6bn
...surprisingly therefore, oil revenues have fallen accordingly (see chart 2). They threaten to fall below $50bn/quarter for the first time since late 2017. The latest trade stats also further highlight the government’s struggles to end Saudi Arabia’s “addiction to oil” as Crown Prince Mohammad pledged in 20...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
US Slashes Tunisia Financial Aid
...18 and a 65% decrease on 2017’s $194mn, according to US Agency for International Development (USAID) data. Since coming into office in 2017 US President Donald Trump has repeatedly called for a decrease in US foreign economic aid. ...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Petrofac Scandals Weigh On Project Pipeline
...gust 2017). The London-listed firm also bagged a $1bn EPC deal in March to develop Algeria’s 2.2tcf Ain Tsila gas-condensate field (MEES, 15 March) – another key client seemingly unphased by Petrofac’s diminishing reputation. In Abu Dhabi it last month won FEED work for the Belbazem offshore pr...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Kurdistan Oil Sector Outperforming Expectations in 2018
...With Iraqi Kurdistan set for parliamentary elections on 30 September, politicians can at least point to a modest rebound in crude output this year. But revenues remain well below 2017 levels. The first eight months of 2018 have seen a much-needed return of upstream activity in the KRG, he...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Aramco’s Zombie IPO Laid To Rest, But Sabic Deal Intrigues
...bic, it will allow Aramco to acquire an important asset that it can borrow against. SAUDI ARABIA LEADS IN 2017 AS GCC INTERNATIONAL BOND ISSUANCE SMASHED RECORD ($BN) *TO 20 APRIL. SOURCE: MEES. BONDS TO THE RESCUE OR JUST A BAND-AID? Indeed, with the IPO on hold, all signs po...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Turkey Mixes Business & Politics As Qatar LNG Surges
...re down 6.8% year-on-year in 1H 2018, though this year is still on track to be second only to 2017’s record volumes. Last year’s biggest winners were Russia and Iran, which saw volumes jump 20% to a record 9.25bcm (see table), but both are suffering in 2018. But Iranian volumes have slid since th...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Saudi Woos Pakistan’s New PM But Qatar To Remain Key LNG Supplier
...participate in the economic embargo imposed against Qatar since June 2017 (MEES, 9 June 2017). That Pakistan may now be prepared to tack towards Saudi Arabia’s Qatar policy was indicated by Pakistan’s newly-appointed Minister for Petroleum Ghulam Sarwar Khan (no relation to the PM) who this we...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Oman’s Duqm Development: Dustbowl Or ‘Dubai’?
...erambition. But after five years of mostly bluster, developments are finally picking up. Chinese consortium Oman Wanfang announced in April 2017 the construction of a $10.7bn industrial park – the Sino-Oman Industrial City (see map): preliminary work has begun. Duqm’s airport is also set to see the 17 Se...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018