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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 -
Kuwait Steps Up Offshore Exploration With Arrival Of Second Drilling Rig
...ploration work was a 3D seismic survey of the Kuwait Bay area which was completed in 2017. RETURN OF THE RIGS It is notable that the Oriental Phoenix’s first well was drilled on the eastern flank of Kuwaiti waters close to the undemarkated border with Iran. For one thing, this location is di...
Volume: 66Issue: 35Published at Fri, 01 Sep 2023 -
Oman LNG Close To Sold Out With New OQ & Shell Sales Deals
...tlook for Oman’s LNG exports was in doubt amid rising domestic gas demand and an uncertain production outlook. The 2017 startup of the Khazzan tight gas development changed all this, with capacity from Khazzan and the second-phase Ghazeer now standing at 2bn cfd. The successful project encouraged IOCs to...
Volume: 66Issue: 35Published at Fri, 01 Sep 2023 -
Lebanon Hooked On Diesel Imports Amid Financial Crisis
...shington earlier this year for “importing tainted fuel, causing significant harm to Lebanese power plants.” Interestingly, between 2017 and 2020 Lebanon’s fuel oil shipments originated mainly from the United States followed by several European countries including Belgium, Netherlands, and Spain. Ga...
Volume: 66Issue: 35Published at Fri, 01 Sep 2023 -
Oman Oil Exports Revenues Hit New Record
...the 2017 expansion of its Sohar refinery to 197,000 b/d in 2017 (MEES, 11 February 2017). Products export revenues more than doubled in May to $680mn. While this was just a fraction of crude export revenues, it smashed the previous record of $360mn.The planned Q1 startup of the 230,000 b/d Duqm re...
Volume: 65Issue: 35Published at Fri, 02 Sep 2022 -
Algeria’s Oil & Gas Revenues ‘To Hit $30-33bn’ For 2021
...94.8bcm and 94.5bcm set in 2016 and 2017 respectively. Higher output is also translating into higher exports, with first half supplies at 28.8bcm almost double last year’s 15.6bcm. All of this is happening at a time when global gas prices have soared on the back of strong demand and co...
Volume: 64Issue: 35Published at Fri, 03 Sep 2021 -
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