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Libyan Output Fall Grants Opec Temporary Relief
...rget last month, with official figures showing production averaged 10.91mn b/d. Disruption from Hurricane Harvey caused US crude production to fall 750,000 b/d to 8.8mn b/d for the week ending 1 September (see p12). The US is not participating in output cuts, and its production has soared in 2017. Wh...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Qatar’s Economy Proves Resilient As Embargo Enters Fourth Month
...e causing delays and additional expense, but nothing that looks likely to prompt Qatar to alter course (MEES, 7 July). Qatar’s economy is proving resilient and the IMF still sees the budget deficit easing considerably from 2016. In a 30 August statement, the IMF projected that Qatar’s 2017 de...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Kufpec Splashes The Cash in Norway But 2020 Target Remains Distant
...kes some retrospective accounting gymnastics for Kufpec to include Bongkot in its 2016 output figure. The Thai purchase was announced in January 2017 (MEES, 3 February) but has yet to complete – Kufpec’s recently-released 2016 Annual Report says the acquisition is expected to be completed by end-2017. No...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Iraq Budget Amendments Push Projected Deficit Back Above $20bn
...Iraq’s 2017 budget has been amended as a result of a 21 August ruling by the country’s Supreme Federal Court. The court was ruling on the government’s appeal against amendments to the budget made by parliament in July – underlining the fractious nature of Iraqi politics and the government’s fr...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Oman Maintains Upstream Spending Despite Revenue Collapse
...mains on track for completion in 2018, the company said at the presentation of its first half results last week. Petrofac’s other upstream projects in Oman – the Yibal Khuff integrated oil and gas facility (2020), and the Khazzan central progressing facility (2017) – also remain on schedule. But co...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
Aramco Eyes Houston Refining Hub As Motiva Break-Up Advances
...king over the 600,000 b/d Port Arthur refinery near Houston, currently operated by Motiva, its 50:50 US refining joint venture with Shell. Motiva is in the process of being disbanded, this week confirming that it aims to complete the separation by 1 April 2017. Aramco will get associated storage an...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
US Output: Is The Bottom Near?
...• The US government’s Energy Information Administration (EIA) has revised down its expectations for the fall in crude output in both 2016 and 2017. It now forecasts 2016 output of 8.77mn b/d, down 650,000 b/d on 2015’s record 9.42mn b/d. For 2017 it forecasts 8.51mn b/d, down a further 26...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
Qatar’s Banks Look Abroad To Boost Liquidity
...ar and with fresh supplies set to hit the market, prices look to be depressed for the foreseeable future. Some of this additional volume is slated to come from Qatar. The 1.4bn cfd Barzan project is set to come online in November and reach full capacity in the first half of 2017 according to Re...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
ACWA/MITSUI Secure Oman Power Finance
...oposals for two independent power producer (IPP) projects at Ibri and Sohar. Leaders are France’s Engie and Japan’s Marubeni and Mitsui. OPWP originally gave combined Ibri /Sohar gas-fired capacity as 2.6GW, with 740MW due online in summer 2017 and 1.86GW more in summer 2018. But local press now say co...
Volume: 58Issue: 36Published at Fri, 04 Sep 2015 -
BP Agrees Lower Rumaila Plateau As West Qurna-2 Ramps Up
...okesman for BP, operator of Rumaila, Iraq’s largest oil field, confirmed that a final agreement on lowering PPT for Rumaila had been signed in the presence of CEO Bob Dudley on 4 July. The plateau has been revised down to 2.1mn b/d from a previous 2.85mn b/d, originally scheduled for 2017. “We are ve...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Qatar’s Barzan Gas Faces Delay
...ntinue to enjoy surplus gas in the domestic market through 2017 (MEES, 13 December 2010). Liquids Boost Construction of the first train is 95% complete, according to RasGas. In addition to the gas increment, the project will boost Qatar’s condensate and NGLs production: Barzan’s gas is very wet an...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Egypt Bid Round Yields First Results
...derway: last month, work began on expanding the Midor refinery, which will add 60,000 b/d in capacity from 2017, whilst a massive upgrade to the Cairo refinery is set to half diesel imports. Egypt Fights Gas Deficit While the shortage in petroleum products is rooted in downstream deficiencies, Eg...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Leviathan Development Gathers Pace As Partners Sign Third Sales Deal
...serves, 6.6tcf Is Earmarked For Phase 1 Development. ^Tender Closes November 2014. Tamar: 2bn Cfd By 2017 At Tamar, Noble’s other key Israeli offshore field, Noble says it will double capacity to 2bn cfd by the end of 2017. Indeed debottlenecking recently raised Tamar’s capacity by 10% to 1.1bn cf...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Turkey Completes 900MW Gas Plant As Part Of Ambitious Capacity Expansion
...Hydro 2016 Kirklareli 520 Gas 2016 Alpaslan II 280 Hydro 2017 So...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Abu Dhabi Capacity Hits 15.5GW With Shuweihat S3 Completion
...ez Environment are designing and building the plant, under a $988mn contract, with a phased start-up scheduled to take place in 2016-17 (MEES, 11 July). ENEC has contracted Korea’s Kepco to build the four nuclear plants, which are due online at a rate of one per year during 2017-20. ENEC says it is...
Volume: 57Issue: 36Published at Fri, 05 Sep 2014 -
Iraq: New Field Start-Ups Offer Some Respite From Recent Woes
...veloped by a consortium led by Malaysia’s Petronas in partnership with Japan’s Japex and the state-owned South Oil Company. It had been due to start up in mid-2013 at a rate of 50,000 b/d and ramp up to its plateau of 230,000 b/d by 2017. However, despite delays attributed mainly to difficulties ob...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
Abu Dhabi Drives Offshore Oil Development
...pacity to 3.5mn b/d. Delays to offshore production mean Abu Dhabi’s long-standing overall 3.5mn b/d production target has been pushed back from 2017 (MEES, 21 June). Abu Dhabi’s other offshore consortium Zakum Development Company (ZADCO – state-owned Abu Dhabi National Oil Company – ADNOC 60%, Ex...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
LNG: Omani State Producers Join Forces; Yemen Looks To Price Hike
...s. It runs its 10.4mn t/y LNG trains at just 84% of their production capacity – just enough to meet term contracts. Oman hopes BP’s tight gas project coming onstream in 2017 will temporarily ease the crisis. Additionally, Iranian gas import volumes of around 600-700 cfd are expected by mid-2015 (ME...
Volume: 56Issue: 36Published at Fri, 06 Sep 2013 -
Oman Eyes $110Bn Upstream Investment
...r declaration of commerciality and a final investment decision by the second quarter of 2013 and start-up by end-2016/early 2017. PDO – which has invested about $300mn in its five-year gas exploration program, including drilling one of the deepest wells in the Middle East (7,145ms) – plans to...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012 -
Algeria Details Power Generation Capacity Expansion Plans
...nsumption peaking at 9.78gw on 2 August. Outages sparked violent protests in various parts of the country. Sonelgaz estimates that double-digit demand growth seen in recent years will continue and expects 12.3% a year growth in peak summer demand between now and 2017 (see chart). Domestic demand ac...
Volume: 55Issue: 36Published at Mon, 03 Sep 2012