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Qatar Targets 380,000 B/D From Al Shaheen
...%, TotalEnergies 30%) since 2017. A multi-phase development plan kicked off in 2017 and has helped the firms revive the field’s fortunes. Production appears to be on course to rise above 300,000 b/d this year. Kpler data shows exports increasing by 12% so far this year, implying average output of mo...
Volume: 68Issue: 40Published at Fri, 03 Oct 2025 -
Saudi Arabia Doubles Deficit Forecast For 2025
...reseeable future, but strong economic growth in recent years means that as a share of GDP, the deficits are expected to be considerably less than over the 2014-2020 period. By way of comparison, this year’s forecast $65.3bn deficit is comparable with 2017’s $63.6bn figure. But while the 2017 deficit was eq...
Volume: 68Issue: 40Published at Fri, 03 Oct 2025 -
Egypt Oil Products Import Bill Soars As Aged Refineries Shunned
...gust and 237,000 b/d for September. As for LNG, Q3’s LNG imports of 1.45mn tons (19 cargoes) were just shy of the all-time high volumes of 2016 and 2017 (MEES, 13 September). Based on pricing at premiums of around $1.50/mn BTU to the European TTF benchmark as per Egypt’s Q3 import awards (MEES, 28 Ju...
Volume: 67Issue: 40Published at Fri, 04 Oct 2024 -
Qatar Breaks Ground On Historic LNG Expansion Project
...eld. These figures stand to be turbocharged by the expansion project. The critical importance of Qatar’s LNG exports to the global economy was also pivotal in enabling the emirate to withstand the 2017-2021 embargo imposed by many of its neighbors. Saudi Arabia and the UAE could not realistically pu...
Volume: 66Issue: 40Published at Fri, 06 Oct 2023 -
Inpex Mulls Exit From Iraq’s Eridu
...ctor firm. The partners estimate the field has 7-12bn barrels of oil in place, of which more than 400mn is recoverable with estimated potential output of 250,000 b/d. Attempts to move the field to development have dragged since its discovery in February 2017, though the ministry confirmed late last ye...
Volume: 65Issue: 40Published at Fri, 07 Oct 2022 -
Riyadh, Cairo Sign $1.8bn Power Connection Deals
...nafir to Saudi Arabia in 2017 (MEES, 4 August 2017). Saudi Energy Minister Prince Abdulaziz bin Salman heralded the deal as highlighting “the sound directives and proper guidance paid by the two brotherly countries.” Egypt and Saudi Arabia also emphasized the pan-Arab nature of the link, and th...
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Petrofac Hopes To Turn Page After UK Bribery Conviction
...UK-based services firm Petrofac is hoping to put a scandal-riven few years behind it after a UK court on 4 October found it guilty on seven counts of bribery involving payments of $44mn to secure $3.5bn of contracts in Gulf countries between 2011 and 2017. In a case brought by the UK’s Se...
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Iraq Looks To Tap Unbanked Savings With Domestic Bond Issue
...rket. In August 2017, it issued $1bn in its first independent bond offering at an annual rate of 6.752% which is due in 2023. In January of the same year, Baghdad – with the full guarantee of the United States government – issued another $1bn at 2.149% which is due in January next year. Previously, a $2....
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Lebanon-Israel Talks
...d Russia’s Novatek still bid (and were awarded) Lebanon’s Block 9 in 2017 – though the French giant explicitly noted it wouldn’t drill within disputed waters (MEES, 16 February 2018). The first well is expected early next year following the consortium’s flop in Block 4 earlier this year (MEES, 1 Ma...
Volume: 63Issue: 40Published at Fri, 02 Oct 2020 -
Qatar Powergen Rebounds To New Peak
...ricultural sector, which Qatar has sought to build up in response to the ongoing economic embargo. Food security has long been an area of concern for the government and the embargo made it more acute. Government statistics show that agricultural output has increased significantly since 2017. STRATEGIC DE...
Volume: 63Issue: 40Published at Fri, 02 Oct 2020 -
Kuwait Readies State Firms For Power IPO
...-year agreement. While prices have not been revealed, in order to have attracted international investors they would have had to be higher than the heavily subsidized tariffs paid by Kuwaiti consumers (MEES, 16 June 2017). CAPACITY GROWTH Kuwait generation capacity stands at 19.42GW thanks to the re...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Iran Confident Jask Terminal On Track For 2021 Start
...ippage. At 1mn b/d, Jask will be Iran’s second largest crude export terminal upon completion, behind the Kharg Island facilities which Iran puts at a massive 8mn b/d (MEES, 30 June 2017). Condensate meanwhile is exported from the Assaluyeh terminal. While Jask’s location outside of the Strait of Ho...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Japan: UAE Overtakes Saudi As Number One Supplier
...*For well over a decade Saudi Arabia had been the unrivalled number one crude and condensate supplier to Japan. Saudi market share climbed above 30% in 2011 and rose steadily to hit 40% in 2017, dipping only modestly to 38.1% for 2018. The UAE (almost all Abu Dhabi) was a distant number two fo...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Opec Output Slumps As Ecuador Quits
...at wish to cheat typically pay lip service to production obligations, Ecuador’s outspokenness has been refreshing. As far back as July 2017 Ecuador said “there’s a need for funds for the fiscal treasury, hence we’ve taken the decision to gradually increase output” (MEES, 4 August 2017). Its su...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Aramco Releases Dividend Details In IPO Push
...w, it also significantly caps funds available for a potential dividend windfall during periods of high oil prices. Aramco also pays the government corporation tax at a rate of 50%. This was brought down from 85% in 2017. Senior government officials have flagged up the speed with which Aramco ha...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Eni, Shell & OMV In Tunisia: Will They Stay Or Will They Go?
...oblem at Baraka has brought combined output at the fields down to a measly 1mn cfd from around 13mn cfd in early 2017. The two fields have lots of potential and would have fared much better “if they were managed better. The reserves are there,” the source says. Though Eni is Tunisia’s top oil pr...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Tunisia’s Upstream: Can It Emerge From A Lost Decade?
...nce summer 2017 when strikes knocked out a slew of output in the deep south (MEES, 2 June 2017). Gas output at 182mn cfd up to August is an 11-year low. Barring an end-year miracle, Tunisia will see another fall in its oil and gas output for 2019. Why has this happened? “It is a combination of na...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Dana Gas Egypt Asset Sale: Can It Garner Interest?
...gust). “If there is a time to start doing some portfolio management, now is a very good time to do it,” Mr Allman-Ward says. Why Dana would want to put all its eggs in the KRG basket is less clear: it is only two years since it settled a major legal dispute with Iraqi Kurdistan (MEES, 1 September 2017...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
KRG Gas: Key Producer Eyes Alternatives To Rosneft’s Stalled Turkey Pipeline
...Dana Gas says Pearl could build 100km pipeline to Turkey border itself. Stalled development of a gas export pipeline from Iraqi Kurdistan to Turkey is forcing the region’s key gas developer to look at alternatives. A pipeline to Turkey was to have been built by next year under a September 2017...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019 -
Iraq Exports Record Crude In Q3 Despite Opec Deal
...tably stable so far in 2019 hovering either side of $20bn, in contrast to the previous year when the range was a much broader $4.2bn, and indeed 2017’s $4.7bn. Overall, absent a much greater than expected drop in federal crude export volumes, annual exports ought to rise for the sixth consecutive ye...
Volume: 62Issue: 40Published at Fri, 04 Oct 2019