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Genel Reveals Extent Of Its Kurdistan Woes
...elds. These fields are essential to the KRG’s plans to export gas to neighboring Turkey. Plans to begin exports by 2017 had already slipped to 2018 last year, and 2019 looks increasingly probable. TAQ TAQ OUTPUT HALVED Genel confirmed that Q3 production at its Taq Taq field averaged 58,600 b/d an...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Egypt’s Refiners Struggling To Keep Pace With Products Demand
...though gas output has risen to 4.35bn cfd this month, it was at an 11-year low of 3.89bn cfd as recently as May (MEES, 23 September). And Cairo announced a new tender on 24 October for the import of 96 LNG cargoes for delivery in 2017 and 2018, underlining that domestic output is set to remain below de...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Iraq’s Tentative Gas Gains Insufficient To Stem Oil Burn Growth
...ak of 677mn cfd. The company aims to reach 700mn cfd by end-2016. Iraq had hoped to bring flaring rates down to zero by 2017, but it is now targeting 2020. When asked by MEES on the prospects of this being achieved, Mr Husain admitted that funding problems at BGC are delaying progress at key pl...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Green Shoots Begin To Emerge As Oilfield Service Firms See Signs Of Revival
...bsgaard highlighted the IEA revising global oil demand upwards for 2017, and Opec’s plans to implement a production ceiling below current output levels at next month’s meeting, as indicators that oil prices could see “upward movements.” But tempering the optimism he says that “visibility remains li...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Iran’s Banking Reform Bills Stalled
...d will elicit a major tussle with government. Mohammad Reza Pour-Ebrahimi head of the Majlis Economic Commission said on 22 October that he expects parliament to approve the final draft of a new banking reform bill by the end of the current fiscal year in March 2017. Although a first draft of th...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Jordan Raises $1bn New Eurobond As It Bags More Aid
...reign grants of JD814mn ($1,148mn). It will also help Jordan carry on with its economic reforms and the restructuring of its debt, he added. The World Bank also has approved an aid package of $1.4bn for Jordan for the period 2017-22 under the Country Partnership Framework (CPF). This package was of...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
European Oil Firms Stand Up And Get Counted In Tehran
...ggests the domestic economic activity could “accelerate markedly” following sanctions relief, the IMF says, with the recovery in oil production and exports providing the main boost. The IMF sees real GDP growth hitting 5.5% in 2016-17 and 2017-18, before slowing to 3.5-4% in the years that follow. “We...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Egypt: Zohr Mega-Find Spurs Regional Gas Hub Ambitions
...ill three appraisal wells by the end of 2016, which, presuming they are successful, will then become production wells enabling first phase output of 700mn cfd from late 2017 or early 2018. Output would then ramp up to 2.7bn cfd by the second phase, with an expected life-span of 20 years. During th...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Cairo Struggles With Products Shortages
...vember, could be renewed, while negotiations are taking place with Kuwait to supply 500,000 barrels of gasoline and diesel a month to meet public fuel needs during the winter period in 2016 and 2017. Additional volumes will come not a moment too soon. After hitting a record high of 277,000 b/d in Ju...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Aramco Vows $100Bn Spend To Phase Out Crude-Burn, Targets Self-Sufficiency
...p (Rawec) Oil 0.16 2016 Shuqaiq (SEC) Oil 2.64 2017 PP13 (SEC) Gas 1....
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Iraq To Split Basra Crude Streams
...oducing around 320,000 b/d of medium and heavy oil, up from 220,000 b/d a month earlier. Output from the field is due to rise to 400,000 b/d early next year, and eventually to a revised plateau of 1.2mn b/d by 2017. Production from Halfaya, now at just over 250,000 b/d of medium crude, is set to rise to 40...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Capacity Build Takes Saudi Refinery Runs To Record 2.17Mn B/D
...heduled for 2017 start-up. Further ahead, Oman is looking to build a 230,000 b/d refinery at Duqm for 2018 start-up, Kuwait is planning a 615,000 b/d plant at Al-Zour, which is due online in 2019, and Bahrain plans to raise Sitra refinery capacity by 93,000 b/d, also for 2019. Meanwhile, Qatar and Ir...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Bahrain Refinery Revamp To Boost Heavy Oil Upgrading
...y, Bapco’s CEO told MEES that the firm was still in discussions with Saudi Aramco – even though Bapco plans to fund the pipeline itself. The new pipeline will likely be completed in 2017 or 2018, with at least a year to spare before the refinery expansion is commissioned. The expansion is part of...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
IFIs Back Renewables In Southeast Mediterranean
...nk 26 100 Tafilalt solar PV 2017 Morocco World Bank 519 350 Noor 2 & 3 solar CSP 20...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Dana: Egypt, KRG Payment
...na’s Egypt production by 160mn cfd and 5,600 b/d of condensate by 2017. $18Mn From The KRG In Iraqi Kurdistan, Dana Gas says it received a cash advance amounting to $18mn, again a small part of the hundreds of millions of dollars the company says it is owed in back payments for gas an...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Lebanese Economy Resilient Despite External Shocks
...rther $4.4bn in Eurobonds in several tranches to meet its fiscal needs in 2015, 2016 and 2017. A draft law has been sent to parliament to seek approval for the larger Eurobond issue by November, the minister said. The ratification of such a law is essential for debt refinancing. Mr Khalil expects th...
Volume: 57Issue: 43Published at Fri, 24 Oct 2014 -
Saudi Awards Khurais FEED
...erall oil production capacity from 10mn b/d to 12.5mn b/d currently. Saudi Aramco CEO Khalid al-Falih said last week that a further addition would come from the offshore Shaybah field to production of light crude oil by a further 250,000 b/d by 2016 or 2017. Shaybah can produce 750,000 b/d. No aw...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
Oman To Take 40% Stake In Khazzan Tight Gas Deal
...oceedings. It has previously said it harbors hopes of exporting more LNG after the BP project hits full production. Delays in the project’s implementation however mean the company will have to hold back on making plans for this extra gas until 2015 at least; when plans for 2017-onwards production and de...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
QPI To Pull RWE Bid
...%, RWE 20%) deep-water concessions. The project is not scheduled to be online until the end of 2017, following several years of delays. The BP/RWE venture secured a rare pricing scheme from state firm, Egyptian General Petroleum Corporation (EGPC), that will allow for a $4.10/mn BT...
Volume: 56Issue: 43Published at Fri, 25 Oct 2013 -
IEA Predicts Bleaker Days Ahead For OPEC
...ar through to 2017, and the estimated Call on OPEC is cut from 2013 by some 600,000-900,000 b/d. The IEA has also downgraded its projections for OPEC NGL supply. And most critically for OPEC member countries, the MTOMR sees average oil import prices falling in nominal terms from $107/B this year st...
Volume: 55Issue: 43Published at Fri, 19 Oct 2012