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Qatar Banks On North Field Leverage To Boost Aggressive Overseas Expansion
...rld’s dominant LNG supplier is set to strengthen further (see p9). Despite its recent acquisition spree, QP has a long road ahead of it to achieve its international aspirations. Still, Mr Kaabi has long-term aspirations, telling MEES in 2017 that “Qatar Petroleum; in 10 years from now you will not re...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Qatar Faces Up To LNG Market Changes
...erging LNG market in which Qatar is the dominant player. State firm Petrobangla has two 3.75mn t/y floating storage and regasification units (FSRU), and a 2.5mn t/y supply deal was signed with Qatargas in July 2017 with supplies beginning in April 2018. However, the involvement of rival Saudi Arabia in th...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Qatar Petroleum Puts Petchems Front & Center
...ants). The new cracker will boost capacity to 4.54mn t/y, or potentially more if the scope is increased. EYING FUTURE PROJECTS… When Mr Kaabi unveiled the new ethane cracker project to MEES in 2017 (MEES, 8 December 2017) it marked the emirate’s first planned petrochemicals expansion since it ax...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
‘We Are Not Aggressive Enough’: Qatar Energy Minister Speaks With MEES
...pointed minister and pushed it forward. It was really my project of looking at that. Q: What have been the advantages for you? A: No regrets. No regrets at all. ON QP’S INTERNATIONAL EXPANSION Q: When we spoke two years ago [MEES, 8 December 2017], one of your key points of fo...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Egypt $4bn Benban Solar Park ‘Complete’
...developers were not satisfied with a Cairo court’s decision, did first EBRD and then the World Bank’s International Financial Corporation (IFC) get behind Benban, backing almost all the projects developed so far (MEES, 3 November 2017). EGYPT’S BENBAN SOLAR PARK REACHES 1.475GW CA...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Total’s Anadarko-Algeria Assets Completion: ‘Late 2020’, Perhaps Never
...tstanding. “Discussions with the authorities” in both Algeria and Ghana “are still ongoing,” Mr Sbraire says, adding that “We have this type of discussion in particular in Algeria…We are of course familiar to this kind of discussions when we acquired the Maersk portfolio.” As part of Total’s 2017 purchase of...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
China LNG Imports (Mn Tons): Qatar Volumes And Share Fall In 9m 2019 With Australia Pulling Away As Top Supplier
...PPLIER WITH 9M19 VOLUMES UP 29% Y-O-Y, THOUGH Q3 SAW THE FIRST QUARTERLY DIP SINCE 2017 QATAR, NUMBER ONE TO 2014, RISKS LOSING EVEN SECOND SPOT. 9M VOLUMES OF 5.7MN T ARE DOWN 13%, WITH MALAYSIA (1.87MN T) AHEAD IN Q3...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Egypt Confident It ‘Has The Keys To The Future’ Of East Med Gas
...ock 10 (80%) alongside Qatar Petroleum (20%). There has even been progress in Lebanon, which successfully held an offshore licensing round in October 2017 in which it managed to snag Eni and French major Total (MEES, 20 October 2017). Drilling will commence next year. However, plans for a second ro...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
MEES Interview With Egypt’s Minister of Petroleum
...d of the previous fiscal year, 2017-18, which ended on 30 June, upstream investments from foreign firms and joint ventures reached about $10bn, and we expect the same over the current fiscal year (2018-19). The Ministry of Petroleum is currently implementing new projects that will double the in...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
KRG-Baghdad Deal Needed To Unlock Northern Potential
...peline to Ceyhan (see map). This would cure a massive headache for Iraqi oil officials who are sitting on at least 150,000 b/d of stuck-in crude at Kirkuk. Iraq increased its production capacity by 280,000 b/d overnight when it retook Bai Hassan and the Avana Dome from Kurdish forces in 2017 (MEES, 20...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Eni Grows North African Presence
...geria (MEES, 3 March 2017). If drilling does go ahead, (both firms still to secure necessary exploration permits) it will be the first time offshore drilling has taken place in Algeria for 44 years, and will provide a much needed boost to the country’s upstream sector. Under the stewardship of So...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
RAK Back In Tanzania
...ch problems ought to be in the past. Indeed, progress had already been made and China’s BGP International began to conduct a $32mn 2D seismic survey at the block in October 2017. BGP is a subsidiary of state giant CNPC. Zanzibar’s environment minister said the onshore portion would last one mo...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Qatar’s Export Revenues Hit A Four-Year High Despite Ongoing Embargo
...onomic embargo on Qatar in June 2017 they may have expected the emirate to acquiesce swiftly (MEES, 9 June 2017). But as the world’s largest LNG supplier and a major condensate exporter, amongst other liquids, Qatar always looked capable of surviving the blockade with minimal disruption (MEES, 9 June 2017...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
IMO Tightening Sulfur Limits In Bunker Fuels: Will Mena Refiners Cope?
...th the latter in the less wealthy countries. With HSFO prices expected to tumble in the wake of the IMO restrictions, those countries exporting substantial volumes are set to see revenues fall. Saudi Arabia is Mena’s largest fuel oil exporter, averaging 255,000 b/d in 2017 and 322,000 b/d in the fi...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Hyundai Eyes Iran Exit
...port Bank of Korea (Kexim), although the total investment required for the preliminary deals was significantly more than the amount pledged officially. In June 2017 Kexim agreed with former Iranian finance minister Ali Tayyebnia to open an $8bn line of credit to fund infrastructure projects in Iran. Th...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
PDO Joins Oman’s Shift To Solar
...netheless, OPWP is still seeking alternatives to gas-fired power generation, so that of the 6.85GW of capacity awarded and planned by OPWP and PDO more than 40% is in renewables and coal-fired plants (see chart). The fuel for the delayed Misfah project has yet to be announced (MEES, 30 June 2017). Gas fu...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Masdar Completes Financing Of Waste-Burning Power Plant
...sdar and Bee’ah and is scheduled to begin operating in 2020. French engineering firm CNIM was awarded a contract in May 2017 to design, build and operate the plant. The lenders to the Sharjah project will be the Abu Dhabi Fund for Development (ADFD), Abu Dhabi Commercial Bank, Germany’s Siemens Fi...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Egypt Economy Marches Upwards, But Higher Oil Prices Hit Subsidy Reforms
...Egypt’s economy is on the mend. Its current account deficit shrunk by almost 60% to $6bn for the 2017-18 financial year. But higher oil prices could derail the country’s subsidy reforms and it’s still on track for a massive budget deficit this year. Two years on from Cairo’s November 20...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Aramco/Sabic Pick Yanbu For COTC
...e partners had Yanbu in mind when they signed an MoU for joint development of the project, although they were considering other options, with proximity to market a key factor (MEES, 1 December 2017). While Yanbu is further away from the chief Asian chemicals market, the recent expansion of Red Se...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
DNO: A Tale Of Two Fields
...aracterized production from the 50,000 b/d Peshkabir field as “on steroids.” DNO targeted 50,000 b/d from Peshkabir by end-2018 but hit its aim ahead of schedule (MEES, 14 September). Equally of note is the declines at Tawke field – output has dropped from 113,300 b/d in January 2017 to 94,000 b/d a year la...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018