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DME Oman Trades Soar As It Clinches Tadawul Investment
...ont-month trading volumes soared by 22% year-on-year over the first half of 2024, rising to the highest level since 2H 2017 (see chart 1). Momentum has been building for some time as physical traders grow increasingly confident in the contract. The DME Oman futures contract is a physically de...
Volume: 66Issue: 37Published at Fri, 05 Jul 2024 -
Germany’s Covestro Confirms Adnoc Takeover Talks
...quisitions. In 2017 it launched an aggressive $109bn downstream investment strategy, within which it set a target of more than tripling petrochemicals capacity to 14.4mn t/y by 2025 (MEES, 1 December 2017). While Adnoc has not outlined any new target figure, it is clear that the firm is pushing to go far be...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Oman’s OQ In $1.4bn Upstream Sell-Off
...en highly active at Block 60 in recent years. Output increased by 12,000 b/d year-on-year to a record 61,000 b/d for 1H 2023. The gains were driven by the Bisat oil field which was first discovered in 2017 and now has production capacity of 60,000 b/d (MEES, 27 January). Conversely, gas was down from 35...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Adnoc Adopts Targeted Approach In Search For Unconventional Partner
...ake in the Upper Zakum offshore oil field, where the partners target 1mn b/d by 2024 (MEES, 17 November 2017). In 2019 the respective CEOs announced that they had discussed “substantial new conventional and unconventional exploration opportunities in Abu Dhabi.” DRILLING EXPANSION Un...
Volume: 64Issue: 37Published at Fri, 17 Sep 2021 -
Aramco Joins IOCs In Green Research Drive
...eir aggregated upstream operations from a 2017 baseline of 23 kg CO₂e/boe to 20-21 kg CO₂e/boe by 2025. Aramco’s carbon intensity is already just 10.4 kg CO₂e/boe. Given the current industry trajectory, it is not difficult to envision a scenario a few years from now whereby producers with the lo...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Conoco Enters Morocco
...stomary 25%) at the massive 10,000km² Tanfit exploration permit. Shell previously held the acreage as a reconnaissance permit (Issouka), converting to a full exploration permit at the end of 2017 whilst bringing in Repsol which previously had neighboring reconnaissance acreage. Moving to Morocco’s of...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Qatar Secures New Long Term LNG Sales Deal With China
...nth. Chinese LNG demand is surging as the government has implemented an extensive program to switch domestic heating from coal to gas. LNG imports soared 46% year-on-year in 2017 as a result (MEES, 2 March) and volumes have continued to soar since. Eight months in to 2018 and China has imported 32.6mn to...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Algerian Oil Bolstered By Berkine Basin Prospects
...sponsible for the only new-field crude production scheduled for 2017 (MEES, 3 February), but it is taking longer than expected to ramp up. Production start-up was completed at the end of 2016, with development activities to be completed “during 2017,” according to Eni’s 2016 Factbook, published in April (ME...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Petronas Quits Algeria As Cepsa Expands
...Whilst foreign investors in Algeria’s upstream include an unlikely assortment of Asian NOCs, one firm heading for the exits is Malaysia’s Petronas. Petronas has decided to divest its oil and gas assets in Algeria, it said in the press release accompanying its H1 2017 results, published on 25...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
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 -
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 -
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