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Adnoc Eyes Unconventional Route To Gas Independence
...ing in shale – though, to be fair, he lists the Middle East as a key “strength” (MEES, 17 November 2017). Total’s President of Exploration & Production Arnaud Breuillac told MEES during Adipec that “the wells that we are going to frack within the coming weeks could be tied back in less than a year fr...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Egypt Gas: More Discoveries Needed To Meet Ambitious Output Target
...t for the beginning of 2019” at its North El Arish block. This is a rare piece of good news for Dana in Egypt. Output has slipped from 39,600 boe/d (mainly gas) in the first nine months of 2017 to 34,500 boe/d in the first nine months of 2018, at the firm’s onshore Nile Delta acreage. “This de...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Oman To Offer Blocks In 2019 Bid Round
...r the 2019 bid round, despite the relatively strong performances of the last two bid rounds held in 2016 and 2017. The 2016 round saw all four assets on offer eventually awarded—including offshore Block 52 to Eni and Block 30 to Oxy. The 2017 bid round has proven equally successful as well. Oxy took bl...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Market Volatility Complicates Outlook As Opec Ponders Renewed Cuts
...ch price fluctuation within one year “is not healthy for producers, and it is definitely not healthy for consumers” (MEES, 17 November 2017). If Brent’s $22.30/B price range in 2017 was bad, this year’s $23.70/B is worse still. Omani Oil Minister Muhammad al-Rumhy said at Adipec that these ex...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
IEA Doubts US Shale Can ‘Single Handedly’ Meet Demand Growth
...ntinues to grow, albeit at a slower rate, out to the end of the IEA’s forecast period in 2040. Though the growth in renewables means use of oil in the power sector will fall by 2.5mn b/d versus 2017 levels, and use in cars will remain more or less level (with falling consumption in developed countries ca...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
IEA Report Offers Succour To Gulf Refiners’ Petchems-Focused Strategies
...Gulf NOCs have put petchems at the heart of their downstream strategies. The latest IEA forecast suggests this is a prudent approach. Global oil demand is expected to grow by 12% from almost 95mn b/d in 2017 to over 106mn b/d in 2040, according to the latest annual forecast from the In...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Morocco Pushing Renewables, Eyes LNG Imports In Bid For Cleaner Power
...ectricity with Spain in 2017, as well as 149GWh with Algeria. These brought Morocco net imports of 5.33TWh in 2017 or just over 14% of total consumption. Minister of Energy Aziz Rebbah projects 5.5%/year growth in Moroccan power demand to 2027. Last year Morocco’s electricity consumption amounted to 37...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Iran’s Oil Export Prognosis: Is The Market Too Blasé?
...gardless, it is feasible, perhaps likely, that by mid-2019 Iranian exports will have fallen well below 1mn b/d. Already, in advance of the 5 November re-imposition of US sanctions, total imports of Iranian crude and condensate had fallen sharply. From 2.64mn b/d for 2017 and 2.47mn b/d for the first ei...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Adnoc: Crude imports for RUWAIS
...fline since a fire in January 2017 but Mr Alhajri says it is now being recommissioned and will hopefully be online by year-end, with full production in 1Q 2019. ...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Jordan Starts Tafila Wind
...nstruction in 2017 with a view to first electricity generation in 2019 (MEES, 14 April 2016). Daelim says it reached financial close for the project in September, with funding being provided by IFC and private banks covered by the Korea Trade Insurance Corporation (K-Sure). Plant start-up is now scheduled fo...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Cyprus: Exxon Drillship In Place
...d Total lost out to the US-major (MEES, 24 March 2017). Total drilled in the adjacent Block 11 in 2017 but failed to find marketable volumes of gas, while the French firm relinquished Block 10 in early 2015, before Zohr was discovered, when seismic failed to show any sizeable prospects. Co...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Tunisia Struggles To Cash In On Democracy
...the revolution, growth slumped to average less than 2% since 2013, though the 2.7% figure (annualized) for 1H 2018 is a modest improvement on 2016’s 1.0% and 2017’s 1.9%. That said, most experts reckon that growth of at least 5% will be needed to make a serious dent in unemployment. On the se...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018