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Qatar Crude Output Tops 600,000 b/d For First Time Since 2018
...d TotalEnergies (30%) since July 2017 (MEES, 28 July 2017). It is an extension of Iran’s 25,000 b/d South Pars Oil Layer (SPOL). Prices are set by QatarEnergy each month following a monthly-tender which serves as an important indicator for regional spot market sentiment. The field’s output gains we...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Tehran Takes Wary View Of US Presidential Elections
...timate say rests with Supreme Leader Ayatollah Ali Khamenei, who sets Iran’s overall policies. LESSER OF TWO EVILS? That said, a look at both candidates’ track records – Mr Trump’s presidency from 2017 to 2021 and Ms Harris’ tenure under President Joe Biden – shows that they were inclined to...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Saudi Halts Bab al-Mandeb Fuel Oil Transfers
...livered in October is the smallest monthly figure in Kpler’s records dating back to January 2017. In reality, it will have been the smallest in at least a decade, if not this century, given how embedded the Gulf-Red Sea route is in Saudi Arabia’s supply chain. Key facilities such as the 6GW Rabigh and 5....
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Saudi Energy Minister: We Will Make Money From The Energy Transition
...edstock through ten projects. The improved generation efficiency this will yield is a key part of plans to boost overall efficiency from 40% last year to 44% by 2030 – up from 37% in 2017. The conversion projects aren’t named, but with an average capacity of 2.3GW per project they clearly entail the up...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Oman’s Blocks 3&4: Output Rebound Hopes Recede
...her operators the space to hike output. Oman’s upstream optimism received a boost in 2017 with the discovery of the Khazzan tight gas field in Block 61 (BP 40%op, OOC 30%, PTTEP 20%, Petronas 10%). Sparking a gas renaissance in the Sultanate, the completion of the Ghazeer development lifted ca...
Volume: 66Issue: 44Published at Fri, 03 Nov 2023 -
TotalEnergies Eyes QatarEnergy Partnership In Iraq
...om 2017 to 2020, indicated that moving Iraq’s gas capture projects ahead should take priority. No surprise there given that Iraqi oil ministers have for years stressed that tackling flaring is their top priority, albeit with scant progress to date. Iraq’s new cabinet, in its manifesto submitted to...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
Inpex Eyes Sale Of Stake In Iraq’s Eridu Discovery
...-1) to partner CNPC and fellow Chinese state firm CNOOC (MEES, 29 April). Instead, the stake is to be distributed between oil ministry subsidiary Basrah Oil Company and Indonesian NOC Pertamina (MEES, 29 July). Eridu was discovered in February 2017 and is being developed under an Exploration, De...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
Algeria Prepares Oil & Gas Bid Round
...asons (MEES, 20 October 2017). US firms such as ExxonMobil and Chevron have shown interest in recent years but nothing concrete has been signed so far. Occidental has also hinted at potential shale gas projects. “As a large American company with state-of-the-art shale capabilities we think we have a lo...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
US Majors: Record Permian Output, More To Come
...me value for a lot less spend,” he adds, referencing a strategy first set out in 2017 (MEES, 17 February 2017) and expanded upon two years later (MEES, 15 March 2019). “We invested in the infrastructure to make sure that we were in a position, once we focused in on and identified the areas we wa...
Volume: 64Issue: 44Published at Fri, 05 Nov 2021 -
Japan Crude Imports: Record Mideast Share As UAE Overtakes Saudi
...ES, 6 August). Other UAE volumes for September included a 235,000-barrel cargo of Sharjah condensate, the first time Japan has taken the grade since March 2017. *Qatar, up 4% at 219,000 b/d for 9M 2021, has overtaken Kuwait, down 18% at 197,000 b/d for number three spot, though Kuwait was ah...
Volume: 64Issue: 44Published at Fri, 05 Nov 2021 -
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 -
Eni Hit By Zohr Output Cap, Repeats Call For LNG Restart
...rprising if the Rome-based firm had not been involved. Meanwhile, EGAS’ freshly released 2018-19 report flags up an “MoU with Toyota to study the way to implement LNG bunkering project in Egypt.” France’s Total also has Egypt LNG ambitions having acquired 5% of ELNG (10% of Train 1) in its 2017 pu...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Mauritania Sees ‘2019’s Largest’ Deepwater Find With 13tcf Orca
...smos says. True, though 2017 wells targeting oil, and ‘outboard’ (further offshore) prospects flopped (MEES, 15 December 2017). US independent Kosmos (28%) partners BP (62%) on each of the major’s four Mauritanian deepwater blocks. Indeed, it was Kosmos that made the key initial discoveries, in...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Israel Offshore Awards: Small Firms, Smaller Commitments
...e ministry to attract bigger names to its offshore after 2017’s previous bidding flop (MEES, 15 December 2017). Then, just six of the 24 much smaller blocks on offer were awarded, with Energean taking five. The Greek firm has yet to undertake any exploration on the acreage. Energean’s key focus is...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
KRG: DNO Tawke Output Down Again
...gion’s oil sector. And whilst the 2017 start-up of the 52,000 b/d Peskhabir field has provided a boost, in recent months it has failed to offset losses at the eponymous Tawke field which saw output dip to 67,800 b/d in Q3 – down from 83,400 b/d in 3Q 2018 and 107,000 b/d in 3Q 2017. DNO expects to ex...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019