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Surplus To 2018 Leaves Opec No Good Options
...2017 drawdowns and a deficit for the year as a whole. Opec’s latest monthly oil report, also released this week, and last week’s from the US’ EIA are marginally less bearish, though even they project a large surplus of supply over demand for 2017 as a whole. All three have markedly revised up...
Volume: 59Issue: 37Published at Fri, 16 Sep 2016 -
Iran: Government Courts Anti-Laundering Body, Spurring Conservative Backlash
...Iranian government efforts to attract foreign investment are inviting the ire of conservatives ahead of presidential elections in May 2017. The latest battleground between the Iranian government and critical conservative political elements is being formed, and it’s money laundering. An in...
Volume: 59Issue: 37Published at Fri, 16 Sep 2016 -
LNG Prices Edge Higher On Egypt Buying
...minent Egyptian tender for 120 cargoes for delivery throughout 2017 is set to provide further support. • Historically spot LNG prices have more often than not been higher than those under term contracts. But spot prices reacted more quickly than those under term contracts to the collapse in oil pr...
Volume: 59Issue: 37Published at Fri, 16 Sep 2016 -
Could Egypt’s Gas Find Revive Exports?
...timate for the substantially smaller (5 tcf reserves, 1.2bn cfd output) West Nile Delta (WND) project that BP hopes to bring online from late 2017. “I think we will remain within $10bn for the overall development of the field,” Mr Descalzi told the Rome hearing, adding that Mr Isma’il’s initial $6-7bn es...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
Oman Eyes 2018 Completion Of Linked Downstream Projects, But Liwa Cost Rising
...ld reporters this week that work on the Sohar refinery expansion, which began in 2014, is expected to be completed in the fourth quarter of 2016. The products pipeline and storage terminal are scheduled for completion in 2017, while Liwa will be ready for start-up in 2018. LIWA COULD COST $5B...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
Saudi Arabia’s Sadara Petchems JV To Supply Juffali Plant With Feedstock
...asChem in the first half of 2017 (MEES, 7 August). Sadara says it will provide Juffali’s BTG unit with almost all the raw material it requires. Other Juffali units, including the polyurethanes plant, will take some raw materials from Sadara and some from third party suppliers. Juffali’s MDI and BT...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
Israel Powergen Capacity Nears 17GW With Completion Of Haruvit CCGT
...rael’s Noy Fund started construction in June for 2017 start-up. The second phase of Ashalim will be a 110MW CSP plant, for which Spain’s Abengoa and Israel’s Shikun and Binui recently announced financial close with a view to 2018 start-up. Details of a solar PV plant to be built at the same site have ye...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
Akri-Bijeel Plans Take A Mauling
...d-2015 and 50,000 b/d by 2017-18. Now it says output will be stuck at little more than 2,000 b/d. Akri-Bijeel’s “economically recoverable reserves” have been slashed to just 4mn barrels, a mere 0.5% of the 800mn barrels oil-in-place estimate contained in Mol’s development plan agreed last August (ME...
Volume: 58Issue: 37Published at Fri, 11 Sep 2015 -
BP, CNPC Bag Improved Rumaila Terms As Iraq Slashes State Stake
...e oil ministry is negotiating a lower PPT with Malaysian Petronas, operator of the Garraf oil field in Thi Qar province with partners Japex and the North Oil Company. Garraf entered into production in 2013 at a rate of 35,000 b/d and the PPT was set at 230,000 b/d to be attained by 2017. When Ir...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Qatar Hires Rigs In Boost To Crude Output Plans
...Congo. This is expected to come online next year and ramp up to about 140,000 b/d by 2017. QPI’s working interest will be about 16,000 b/d of crude and just under 5mn cfd of gas (MEES, 24 May 2013), offsetting potential declines at home. Early this year, QPI bought 23% of the ultra-deep water Pa...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Egypt: Gas Shortage Fuels Record Diesel Demand
...e map) to 825,000 b/d by 2017 (MEES, 22 August). Assiut Oil Refining this month secured $198mn financing from Saudi Arabia-based Islamic Development Bank (IDB) to help fund a $2.9bn upgrade of its 47,000 b/d plant 320km south of Cairo. A 26,000 b/d hydrocracker at the refinery will convert heavy fu...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Oman’s Orpic In Catalysts R&D Venture
...finery capacity from 116,000 b/d to 197,000 b/d by 2017 (MEES, 9 May). For Orpic, the deal will provide valuable access to catalysts technology, since Middle East refiners largely depend on outside companies for catalysts at a time when regional demand is growing in line with refining capacity. Gr...
Volume: 57Issue: 37Published at Fri, 12 Sep 2014 -
Saudi To Keep Crude Output High Amid Soaring Domestic Demand
...uthwest, will add a further 800,000 b/d by 2017. Currently running on light crude, the Satorp refinery will process heavy oil from the offshore Manifa oil field, currently producing 500,000 b/d, when fully operational. Manifa production is due to reach full capacity of 900,000 b/d next year. The st...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Abu Dhabi Puts Tacaamol Back On Track With Aromatics FEED
...12, with the aim of plant start-up in late 2017. The award of the first FEED only now suggests that start-up of the aromatics plant cannot be expected before 2018. Besides the reformer and aromatics units, Tacaamol Phase 1 will include a pipeline from the Ruwais refinery, an export tank farm, a jetty an...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Bahrain Opts For 360,000 B/D Expansion
...rks a scaling back – amid financing concerns – from earlier more ambitious plans for expansion to 450,000 b/d and beyond (MEES, 19 December 2011). The $5-6bn project will be completed in steps with the first phase to come online in 2017 and the final phase in 2020. Originally Bapco hoped to se...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Iran Plans New Nuclear Plants, But Bushehr Still Offline
...6GW 4 Two 1.4GW plants u/c at Barakah. One plant due on-line each year during 2017-20. Source: MEES...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
BG Takes Further Egypt Hit; BP Upbeat On Drilling Success
...ated for late 2017 (MEES, 2 August). Egypt ‘Gifted’ Products Imports Meanwhile, EGPC’s newly-appointed chairman Tarek El Molla says half of Egypt’s oil imports are “gifts” from Arab countries. Mr Molla, who recently replaced Tariq al-Barkatawi, told Egyptian daily Almasry Alyoum on 2 Se...
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Omani IWPP Sembcorp Salalah Launches $137Mn IPO
...the Salalah region, with a view to 2017 start-up. The company intends to invite proposals for the 400MW Salalah 2 IPP this year (MEES, 26 July)....
Volume: 56Issue: 37Published at Fri, 13 Sep 2013 -
Iran’s Bushehr At Full Capacity, MENA States Pursue Nuclear Programs
...ectric Power Corporation (Kepco). ENEC plans to build four 1.4gw plants, with the first to be built at Barakh and due on-line in 2017 (MEES, 20 August). Jordan, like Iran, has substantial uranium reserves and sees extraction as part of its nuclear program. Parliament has not approved the go...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012 -
Oman Pushes Refinery Expansion, Considers Impact On Crude Exports
...finery – is scheduled for start up in 2017, followed by Phase 2 – a petrochemicals plant, which is still being studied. It could produce ethylene depending on gas supply. Oman faces a gas shortage, but BP’s 1bn cfd Khazzan-Makarem tight gas project could be on stream by then (MEES, 20 July). Or Oman could op...
Volume: 55Issue: 37Published at Fri, 07 Sep 2012