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QP, Shell Reaffirm LNG Bunkering Commitment
...Shell CEO Ben van Beurden was in Doha this week for talks with Qatari Minister of State for Energy Saad Sherida al-Kaabi. The pair “signed a Shareholder Agreement today [18 September] to establish a company that would provide global LNG bunkering services.” This follows a 2017 framework ag...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
ENI Egypt Gas Start-Up
...eir North Damietta concession next year with additional drilling at the 300mn cfd Atoll as well as the start-up of the Qattameya field, discovered in March 2017 (MEES, 30 August). The volumes of course pale in comparison to the 21.5tcf Zohr field in the deep offshore Mediterranean which is cu...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
Morocco: Minnow Bags Deepwater Block
...2017 without drilling. Morocco enjoyed something of an exploration boom earlier this decade. But of the 10 deepwater wells drilled none found commercial hydrocarbons (MEES, 30 January 2015). ...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
Saudi Arabia Jodi Data ('000 B/D): Crude Stocks Fall To New 9-Year Low Even Before Latest Outage
...CHANGES EXPRESSED IN PERCENTAGE POINT TERMS WHERE ORIGINAL FIGURES ARE PERCENTAGES. *EXCLUDES FIELD LPG (650-700,000 B/D). **NAPHTHA REFINERY OUTPUT INCLUDED IN ‘OTHER PRODUCTS TO DEC 2017 (479,000 B/D FOR 2017). ^PRESUMES ALL FUEL OIL CONSUMPTION IS BURNT IN POWER PLANTS. SEE AN...
Volume: 62Issue: 38Published at Fri, 20 Sep 2019 -
Kuwait Gets Jurassic Gas Boost, Eyes Further 2020 Gains
...a more-conciliatory parliament in 2013 helped unlock key projects and contracts for the three EPFs were awarded in 2016 (MEES, 28 July 2017). IMPORTS RISE DESPITE GAS GAINS Prior to the first EPF startup in January, Kuwaiti gas output was around 1.7bn cfd – overwhelmingly gas associated with oi...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Iraq: Soaring Domestic Oil Demand Will Test Next Government
...els that are in high demand, with consumption of fuel oil consistently running at record highs since December 2017. Consumption has averaged 291,000 b/d so far in 2018, against 200,000 b/d over the same period last year, as Iraq has turned to fuel oil over crude oil for power generation. Crude burn ha...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Abu Dhabi Plots $3bn Windfall From Cepsa IPO: What’s For Sale?
...r the 52.94% it did not already own, including French major Total’s then 48.83% stake. IPIC first bought into Cepsa in 1988. Fellow state energy-focussed investment firm Mubadala assumed the stake in January 2017 (MEES, 8 July 2016). In a 17 September document detailing the IPO plan Mubadala ch...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Saudi Oil Exports On Track For Record Year
...oducts exports are poised to top 2mn b/d for the first time this year, which would represent a massive 70% year-on-year increase on 2017’s record 1.44mn b/d. With crude exports relatively subdued, although still on course to bounce back above 7mn b/d, refined products are set to exceed 20% of total oil ex...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Egypt Sees End To Water Tension With Ethiopia: Is It In Denial?
...sastrous. A 2017 study from the Geological Society of America (GSA) estimates that during the GERD fill period, Nile flows could fall by 25%, reducing the electricity generated by Egypt’s own 2GW capacity Aswan Dam by 33%. The GSA sees Egypt facing “serious country-wide freshwater and energy shortage by 20...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Adnoc Keeps Squeezing The Bottoms
...to unleaded gasoline and polymer grade propylene. This plant is still offline after a fire at the RFCC in early 2017 and not expected back online until early 2019 (MEES, 7 July 2017). Adding pressure on Adnoc’s propylene supplies, the company’s Borouge joint venture recently signed an en...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Acwa Power: Solar Record-Setter, But Any Coal’s A Goal
...el oil (HFO) and gas. Even its 15 projects under construction include a coal-fired plant and one burning HFO. Acwa had equity in assets with a combined capacity to generate 22.6GW of electricity and desalinate 2.7mn m³/d of water as of the end of 2017, mainly in Saudi Arabia but also in Oman, UA...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Vision 2030: Is The Public Investment Fund’s Strategy Due An Overhaul?
...ers of banking services in the region.” At last October’s Future Investment Initiative forum, PIF announced that it was aiming to beef up its assets to $400bn by 2020 from its current $240bn (MEES, 27 October 2017). A year later there is little evidence of a major increase having occurred. With it...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Iran Offers Big Discounts To Retain Customers
...dn’t have to cut prices to such levels even during the previous tightening of sanctions from 2011-2016 (see chart 1). Iran’s five key Asian buyers took 1.66mn b/d for 2017, 68% of Iran’s 2.46mn b/d crude and condensate sales, highlighting their critical importance to the Iranian economy. In 2011, th...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Oman LNG: Record India Volumes
...ar. India remains a distant third among Oman’s LNG customers after South Korea and Japan. Korea took 2.83mn tons for the first eight months of 2018, down 4% on 2.96mn tons for Jan-Aug 2017. Japan took 1.95mn tons for January-July, up 10% year-on-year. Oman has in recent months received sharply di...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
China Takes VLCC Of Yemeni Crude
...,000 b/d from the Masila basin since restarting production in 2016 (MEES, 15 September 2017). Most is exported to China from the Ash Shihr terminal on Yemen’s coast. China received 32,000 b/d of Yemeni crude in 2017, but the cessation of Chinese import data in March and lack of Yemen export figures have ob...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Kuwait Tenders For 1.5gw Of Solar
...ready building Kuwait’s first utility-scale solar project, a 50MW plant at Al-Shegaya (MEES, 21 July 2017). ...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Aramco Putting The Customer First With Asia Crude Pricing Change
...July 2017, the ICE Brent settlement price replaced the BWAVE. All these changes were made with the intent of providing a more reliable, relevant, transparent and liquid crude marker that best serves the interests of Saudi Aramco and our customers. In some cases, as with the decision to replace WT...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Saudi Arabia July 2018 Oil Data (‘000 B/D): Products Exports Hit Record 2.084mn B/D, Crude Stocks Fall To Lowest Since 2009
...CHANGES EXPRESSED IN PERCENTAGE POINT TERMS WHERE ORIGINAL FIGURES ARE PERCENTAGES. *EXCLUDES FIELD LPG (650-700,000 B/D). **NAPHTHA REFINERY OUTPUT PREVIOUSLY INCLUDED IN ‘OTHER PRODUCTS (479,000 B/D FOR 2017). ^PRESUMES ALL FUEL OIL CONSUMPTION IS BURNT IN POWER PLANTS. SOURCE: JO...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Saudi Crude Exports At 3-Year Low: Oil Burn Peaks Amid Opec Curbs
...cord 1.02mn b/d for the year as a whole, up from MEES’ previous 991,000 b/d 2017 forecast (MEES, 18 August). Increased oil burn has directly hit the volume of crude available for export. Crude exports, at 6.693mn b/d in July, were down for the fourth straight month and at their lowest level since Au...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
Algeria Oil Output At 14-Year Low, Gas Exports Slump
...Algeria's oil output was just 1.551mn b/d in July, the lowest figure since 2003. Algeria’s crude output fell to just 1.065mn b/d in July 2017, the lowest since September 2003, whilst NGLs output, at 486,000 b/d, was at its lowest since December 2013, according to official figures su...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017