- Sort by:
- Score
- Published ▼
-
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 -
Iran Eyes New Partner For Tabriz Refinery Upgrade
...zaj suggests the demise of an August 2017 heads of agreement with Korea’s SK Engineering & Construction for a $1.9bn upgrade of Tabriz (MEES, 11 August 2017). SK has made no announcement. But Tabriz appears to be the second Iranian refining project from which a Korean firm has withdrawn in the fa...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Iraq Readies Baiji Unit
...rect crude burn in power plants, it is replacing the crude with heavy fuel oil from refineries. In 1H 2018, Iraq burned 289,000 b/d of fuel oil – compared with 199,000 b/d in 1H 2017 – out of a total 334,000 b/d of oil burned (MEES, 24 August). Restarting Salahuddin-1 would boost Iraq’s operable cr...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Israel Refiners Pump At Record Levels
...erating at or above 100% capacity for over a year, Paz saw output dip in Q2 with the June completion of an off -gas recovery unit. The unit began operation in July, with Paz “now close to operating at full capacity,” the firm says in its Q2 report, released this week. In 2017 Israel consumed more ga...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Egypt’s Gas Surge Enables Planning Beyond Powergen Needs
...luable liquid fuels from the power mix. EEHC burned a record 8.84mn tons (161,000 b/d) of heavy fuel oil (HFO) in financial year 2015-16. But this fell to 7.15mn t (130,000 b/d) for 2016-17 as gas burning in power plants soared to 3.27bn cfd. For 2017-18 gas burning rose again to 3.60bn cfd for 2017...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Algeria Halves Trade Deficit, Thanks To Higher Oil Prices
...): DEFICIT ON TRACK TO FALL TO $4.2BN FOR 2018 BUT OIL & GAS DEPENDENCE STILL WELL OVER 90% F =FORECAST. PRESUMES OIL PRICES IN LINE WITH CURRENT LEVELS FOR REMAINDER OF 2018. R=REVISED FROM PREVIOUSLY PUBLISHED FIGURES. *GAS EXPORT FIGURES ARE FOR 1H 2018, 2017, OIL EXPORTS FOR JAN-APR. **CH...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Iran: Rohani Under Fire As Economic Pressure Mounts
...Seif, is again being made the scapegoat for Iran’s economic ills, in a country where key economic policy decisions are known to be taken at the highest level by the political and religious hierarchy. Since December 2017, public anger over living costs, unemployment and corruption have triggered sp...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Turkey: Iran Imports Down
...is was before relations between the two supposed allies deteriorated further as US president Trump reveled in Turkey’s recent economic woes (MEES, 17August). Iraq was the biggest supplier to Turkey for June with 157,500 b/d, the most since May 2017. Iran was top supplier for the first five months of...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Egypt: Eni Strikes Gas
...serves.” Local media report that Eni is in talks with Shell to tie back the latest discovery to the latter’s 450mn cfd Obayed gas processing plant. Egypt is a key focus of Eni’s global upstream efforts with the giant offshore Zohr field coming onstream at the end of 2017 (MEES, 13 July). ...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
KRG Gets Creative In Bid To Boost Investor Confidence
...G.” Booked receivables fell $32mn to $58mn during the first half of 2017. Genel meanwhile put its end-2016 KRG receivables at $253.5mn. The KRG’s hefty receivables tab and uncertainty over how it would be able to pay it off was a major disincentive to IOCs considering investing in the region. Af...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
Israel Products Output Down 17% Amid Maintenance, Strike
...The operators of Israel’s two refineries say scheduled maintenance was the key reason their output fell by a combined 50,000 b/d (17%) year-on-year in the first half of 2017. But a strike in June didn’t help. A diesel unit fire last month added to the woe. The smaller of Israel’s two re...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
Saudi Invites Proposals For 400MW Wind Power Project
...st year. Progress in wind has been even slower. In early 2017 state petroleum firm Saudi Aramco and US conglomerate General Electric (GE) started up a single 2.75MW wind turbine at the Turaif products storage terminal in the northwest of the kingdom. The turbine was planned as a pilot for a 50MW wi...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
China Crude Imports Grow At Record Rate: Can It Last?
...China has been the key driver of global oil demand this year. Consumption, as defined by output plus imports, rose by 7.8% (900,000 b/d) to 12.42mn b/d for the first seven months of 2017, around half of total global growth for the same period. Falling domestic output means the country’s cr...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
Storm Before The Storm: US Saudi Imports Plumb 29-Year Low
...Chinese market share, at 11.3%, was the lowest on record. Adding insult to injury, the three key countries to have gained at Saudi expense – Russia (now clear number one at 1.18mn b/d for January-July 2017), Angola (at 1.06mn b/d, a fraction ahead of Saudi), and Iraq, are all party to the Opec/non-Op...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
Iraq Hopes For IPSA Pipeline Access With Riyadh Rapprochement
...velopments in recent months. A number of high level visits have been held in 2017. Saudi Foreign Minister Adel al-Jubeir visited Baghdad in February – the first such visit since 1990 – and Mr ‘Abadi met the Saudi King in Riyadh in June. Then in August an agreement was reached to reopen the border cr...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017 -
Lukoil’s West Qurna-II Output Holds Steady
...maining 25% is held by the state-owned North Oil Company. Output over the first half of 2017 averaged 400,000 b/d, against 412,500 b/d in the same period last year. Lukoil attributes the slight fall to Iraq’s obligations under the November 2016 Opec agreement, whereby Iraq pledged to cut production by 21...
Volume: 60Issue: 35Published at Fri, 01 Sep 2017