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Egypt Gas Producers Get Export Boost As Asian LNG Prices Rise
...s field, located in the North Damietta offshore block which also houses Atoll. Qattameya, discovered in 2017 in 108ms water has been tied back 45km to the Ha’py platform and “is expected to produce up to 50mn cfd,” BP says. The UK major is also readying start-up of the Atoll-4 well: it previously fl...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Dana Gas Sells Producing Egypt Assets To Texas-Based IPR
...lations with Sukuk holders (MEES, 18 August 2017) and had flagged up the sale of its Egypt assets as a preferred method of meeting the looming payment (MEES, 14 February). This suggests that Dana was hardly in a position to dictate terms in the latest sale, though a $90mn one-year loan with UAE lender Ma...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
QP & Total Make Second South Africa Discovery
...panding internationally… my ambition is for Qatar Petroleum to be seen as an International Oil Company and be talked about at the same level as ExxonMobil, Shell, ConocoPhillips, Total” (MEES, 8 December 2017). This ambition has led QP to partner with international majors at a host of overseas assets in...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Gulf Oil Giants Eye Enhanced India Ties
...pand their commercial links. The largest three oil producers in the Middle East (and Opec) are also India’s three largest suppliers (see chart). Opec No.2 Iraq overtook Saudi Arabia as India’s largest supplier in 2017 and has held on to the crown ever since, with both supplying record volumes last ye...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Saudi Deficit Falls To $11bn For Q3 As Non-Oil Sector Surges
...venues stay flat then the deficit could conceivably come in above $80bn. Q4 deficits in both 2017 and 2018 were more than $30bn. FINANCING THE DEFICIT In order to finance last quarter’s $10.9bn deficit, the government turned to domestic debt. Overall, it raised $11.2bn domestically, opting en...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Qatar Government Revenues Drop in Q3
...rink by 4.5% this year. This would be the first time that the economy has shrunk on an annual basis since 2017, and this year’s decline is expected to dwarf that year’s 1.5%. The latest government figures show that the economy shrank by a massive 6.1% in Q2 versus a year earlier (see chart 1), and wh...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
BP, Eni Race For First Gas From Egypt Acreage
...pects first WND output in early 2017 as opposed to the original mid-2017 estimate. Initial output will be 450mn cfd rising to 600mn cfd at end-2017 and 1.2bn cfd plateau output by end-2019, he says. BP has spent the last 12 months optimizing its development plan, CEO Bob Dudley told investors during th...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
IEA Chief Warns Against Aggressive Capex Cuts
...stream spending would be unprecedented. BP CAPEX CUTS Oil and gas majors have reported further cuts. BP, reporting its Q3 results on 26 October, said it has reduced its full-year capex for the third time this year. BP expects annual capital spending to remain at $17-19bn until 2017, well down on it...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Qatar Out To Woo LNG Customers In Face Of Increased Competition
...cording to analysts from Energy Aspects. The London-based group expects Japanese LNG imports to fall by 2.7mn tons in 2015, mostly due to milder weather, before falling by another 1.1mn tons in 2016 and by 1.9mn tons in 2017. INDIA… POLAND… Meanwhile, India has been taking less contracted LNG from Qa...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Khafji Remains Offline As Neutral Zone Squabble Escalates
...at Chevron will move forward with its planned $5bn, 80,000 b/d first phase of its steam injection program at Wafra. As it stands, the project has already faced several years of delay and a final investment decision isn’t expected until 2017. Costs have also ballooned, which may force the project to be...
Volume: 57Issue: 44Published at Fri, 31 Oct 2014 -
South Sudan Orders Oil Production Restart
...l Output Through 2017 In its Medium-Term Oil Market Report 2012 meanwhile, the International Energy Agency (IEA) said it did not expect to see any significant increase in either country’s production over the coming five years, despite best efforts by both the Sudanese and Southern Sudanese go...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Qatar Faces LNG Market Challenges
...e Sabine Pass project, and the next project that is likely to go ahead probably won’t read final investment decision (FID) until 2Q13, or even 2014; putting them in the 2017-18 time frame,” Mr Flower says. But if Japan starts importing US LNG at Henry Hub prices, some feel this may re...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Middle East Refinery Capacity To Surge, Says IEA
...owing regional oil product demand,” Toril Bosoni, refining analyst for IEA’s monthly Oil Market Report, told MEES. The IEA sees Middle East oil demand growing by 1.7mn b/d from 2011 to 2017 or an average annual growth rate of 3.4% – the highest in the world. With forecast additions to Middle East re...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Iraq Wakes Up From Power Shortage Nightmare
...the Kurdistan Regional Government (KRG) into a 1,500mw Combined Cycle power station by 2015. Even after the mega-deal purchases, Iraq plans to spend around $4.5bn/year, or some $27bn, up to 2017, on its electricity sector (see table). This 2012-17 spend will break down as follows: $14bn fo...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Woodside Keen On Leviathan Partnership, Pelagic Prepares Aphrodite-2 Well
...cility located in Cyprus – but will need a strategic partner experienced in LNG to carry the project through. Currently, the target date for Leviathan production start-up is a tentative 2017. But exports from Leviathan and other Israeli fields will depend on whether the Israeli government’s export policy fo...
Volume: 55Issue: 44Published at Fri, 26 Oct 2012 -
Turkey, Azerbaijan Sign Landmark Transit Agreement
...peline, a tariff tender for the transit of the 10 bcm/y of SD2 production that will become available by 2017-18, all welcomed the decision. It is seen as the final step before the full implementation of Europe’s Southern Gas Corridor strategy that aims to limit the EU’s dependence on Russian gas. The pa...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Greece Links DEPA Sale To ITGI, Nabucco’s Viability Questioned
...lgaria starts up. “TGI is ready to transport gas to Europe and the Balkan States from 2012-13, so it will be ready for transportation of Shah Deniz gas in 2017.” The Greek Minister also underlined that ITGI will not face any problems with its financing, a worry that has been exacerbated due to Gr...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011