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Egypt: Key Shell Offshore Gas Project Faces Uncertainty
...condensate during the 2019-20 financial year to June, a far cry from the 1.3bn cfd it produced in 2013. Years of under-investment and over-drilling saw output collapse to around 200mn cfd in 2018. Phase 9b was finally sanctioned in 2017 although it was only 12 months ago that the phase’s nine we...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
Egypt Oil Targets Recede Into Distance
...clared force majeure on the plant’s ongoing 60,000 b/d expansion (MEES, 24 July). And the country’s other key ongoing expansion, a new 48,900 b/d hydrocracker and 14,900 b/d naphtha upgrader at the 90,000 b/d Asorc refinery in Assiut, southern Egypt (MEES, 15 September 2017), has the same main co...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
US Crude Output: The Only Way Is Up?
...*Latest official US crude output figures for June show output rebounding by 420,000 b/d to 10.436mn b/d from May’s 10.016mn b/d. The May figure was in turn the lowest since December 2017 and a whopping 2.84mn b/d down from last November’s peak of 12.860mn b/d. Indeed the 2.72mn b/d collapse be...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
Israel Sees Record Crude Stockbuild
...e average 2019 figure. Q2 saw quarterly record of 339,000 b/d. *Even allowing for crude re-exports, which hit 92,000 b/d in June, the highest since February 2017, but averaged a far more modest 22,200 b/d for 1H 2020 as a whole, Israel’s net crude imports of 294,800 b/d for Q2 are still over 80...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
EBRD Ups Egypt Renewables Funding For Kom Ombo Solar
...yptian court. Only after the ministry accepted that disputes could be settled internationally did EBRD and the World Bank’s International Finance Corporation (IFC) kick-start Benban development by pledging $1.6bn combined for 27 projects (MEES, 3 November 2017). EBRD is a key backer of Egypt, le...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
Turkey Imports Record Iraq, Saudi Crude In Q2 As Russia Sidelined
...pplier for 2019 as a whole. *Russia’s neighbor Kazakhstan has also been squeezed: from 66,000 b/d for 2019 and a quarterly record 88,000 b/d for Q3 last year to just 32,000 b/d for the most recent quarter. *Perhaps less surprisingly, Iran, which was Turkey’s top supplier for 2017 (wi...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
Covid-19 Whacks Suez Canal Trade Volumes, Revenue
...th the Canal handling northbound shipments of Gulf crude, has also seen volumes fall sharply (MEES, 21 August). GROSS TONNAGE (MN TONS) SLUMPED TO JUST 84MN TONS FOR JUNE, DOWN 15% Y-O-Y REVENUE ($MN) IS AT THE LOWEST SINCE EARLY 2017 SOURCE: SUEZ CANAL AUTHORITY, CA...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020