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Iraqi Kurdistan Closes In On 500,000 B/D Oil Production
...late 2017 (MEES, 20 October 2017), Iraqi Kurdistan’s tempestuous oil sector is poised to once more produce 500,000 b/d as foreign firms continue to invest in the region (see chart). By the end of the year, MEES expects output to exceed 490,000 b/d, with 500,000 b/d breached in early 2020. Ov...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Egypt Oil Output Target Slips Further From Reach
...Egypt’s oil output fell to a two and a half year low of 619,000 b/d for September with output from the country’s oil heartland Western Desert also slipping to its lowest level since April 2017. Egypt’s target of reaching oil output of 690,000 b/d by June next year appears to be slipping fu...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Abu Dhabi’s Mubadala Puts Gas At Center Of Petroleum Strategy
...rst came the merger with fellow state-investor IPIC in 2017 (MEES, 24 February 2017), and after a period of consolidation last year saw a slew of major investments (MEES, 20 April 2018). The state investment vehicle’s consolidated energy portfolio sits in the Petroleum and Petrochemicals platform, wh...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
MEES Interview: Musabbeh al-Kaabi, CEO of Mubadala Petroleum & Petrochemicals
...Q: Mubadala has accelerated energy sector investments over the past 18 months. What benefits have you realized from the increase in scale in your portfolio following the merger with IPIC in 2017? A: Our investment business is now well-established and we are very pleased with the progress si...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Opec Faces Five Years Of Pain
...ve been in place since January 2017 and there is growing fatigue among producers. Ecuador has decided it’s had enough and announced last month that it is quitting Opec (MEES, 4 October). Opec+ may well secure a further extension next month, but as the current situation with Iraq and Nigeria hi...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Egypt May Ax Coal Plans On Back Of Major Gas, Solar Expansion
...s since soared with the key boost coming with the December 2017 start-up of the 21.5tcf Zohr field discovered just over two years earlier. By late 2018 Egypt had again become a net gas exporter, since when output has continued to soar an all-time high of 6.75bn cfd in August (see chart, p13). 1: EG...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Rabigh-2 Completion Broadens Saudi Petchems Palette
...9mn t/y mixed-feed cracker and an aromatics plant, processing locally available ethane and naphtha to deliver a range of high-value chemicals – many new to the kingdom for the first time – as well as polyolefins (MEES, 18 August 2017). Aramco’s Petro Rabigh JV processes ethane as well as naphtha from th...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Saudi Arabia Expects Large Budget Deficits Until 2022
...SR1,048bn ($279bn) from SR1,106bn ($295bn - see table). The Saudi Finance Ministry issued its pre-budget statement for 2020 on 31 October. For 2020, the ministry projects the deficit will widen to SR187bn ($50bn), its highest figure since 2017 and equivalent to 6.5% of GDP. The reason for this 43...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019