- Sort by:
- Score
- Published ▼
-
OPEC’S Ever-Receding Global Oil Market Dominance
....6mn b/d including NGLs) in 2017 to 44.8% by 2040. Seemingly good news for Opec. But then the IEA’s 2014 WEO predicted Opec’s market share rising to 49.2% by 2040. The number has been cut every year since. • These cuts come despite additions to Opec membership which helped boost the organization’s ba...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Omani Economy Looking Up Despite S&P Downgrade
...Higher oil prices and a boost to gas output will see Oman finish 2017 strongly despite a ratings downgrade. As BP plots further gas expansion and heavyweights Eni and Oxy grab the latest exploration blocks, there is cause for quiet optimism. As with the other GCC oil exporters, low cr...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Qatar Maxes Condensate Splitters, Hits Fresh Products Records
...ich 349,000b/d refined, 401,000b/d exported) SOURCE: QATAR PETROLEUM, ASIA PACIFIC ENERGY CONSULTING, MEES. JAPANESE IMPORTS OF QATARI CONDENSATE SLUMP FURTHER IN 2017 ('000 B/D) SOURCE: METI, MEES. NAPHTHA, JET-KERO, DIESEL FROM RAS LAFFAN 2 DRIVE QA...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Algeria Eyes 2.4gw Power Capacity Boost By Mid-2018, But Money Is Tight
...appearance; the company’s third Algerian CCGT project, Bellara, is also apparently on hold. Korea’s Samsung C&T is developing two of the big CGGT plants. By the end of the second quarter 2017 the company estimated that it had reached 50% completion of the Naama project, for which the co...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Saudi Crude Exports At 7-Year Low, Outweighing Products Gains
...Saudi Arabia is leading by example within Opec when it comes to withholding crude oil from global markets in order to erode the stock overhang. The kingdom’s crude exports are set to fall to a seven-year low in 2017. And while this has been partially achieved by ramping up refining rates and th...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Global Output To 2040: Will Opec Be Squeezed Amid Offshore Growth?
...A PROJECTIONS*): OPEC SHARE TO EDGE UP FROM 43% IN 2016 TO 46% IN 2040 *2017 WEO, NEW POLICIES SCENARIO. 2: WORLD’S TOP 8 OIL PRODUCERS IN 2040 (MN B/D, IEA PROJECTIONS*) *2017 WEO, NEW POLICIES SCENARIO. ^2016 OUTPUT REBASED TO ZERO. 3: BRAZIL IS FORECAST* TO BE...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Lebanon Resignation Fiasco Highlights Limitations Of Saudi Iran Strategy
...isis” emerged in June 2017 when Saudi Arabia and its coalition issued a 13-point ultimatum and called on Qatar to cease its support of terrorist groups. The subsequent embargo is now in its sixth month, but Qatari exports have edged up (MEES, November 24). Seemingly cognizant that its strategy of re...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
GCC Debt Smashes All Records
...2017 has been a record year for GCC sovereign and corporate debt. Sustained low oil prices and budget deficits since 2015 have led to an ever-growing appetite for issuance. NOCs are now getting in on the act too. GCC sovereigns have raised a record $50.5bn in international bond issuance to...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Saudi Deficit Set To Fall 50% In 2017
...Higher oil prices mean Saudi Arabia is on track to halve its deficit to $42.5bn for 2017, the lowest figure since 2014. Latest figures for the first nine months of 2017 show revenue rising by 23% year-on-year thanks to a 32% increase in oil prices (from $38.6/B to $50.9/B). For 2017 as a wh...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Crude Burn: Saudi Gains Reverse In September As Iraq Halts Burning
...ack to fall in 2017 for the second consecutive year. MEES estimates that the average figure for 2017 will come in at 470,000 b/d versus 497,000 b/d for 2016 (see data, MEES, 24 November). > By contrast, Iraq, long the region’s #2 crude burner, reported that it eliminated crude burn in Se...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Total Aims To Become Mena’s Dominant IOC
...ying the groundwork for production gains in 2017. Total is increasingly focusing on this region: unlike its peers, which are increasingly focusing any spare cash on the US in general and Texas’ Permian basin in particular (MEES, 4 November). With global upstream investment having declined for two st...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Eni Touts Zohr As East Med Hub
...OM THE ORIGINALLY-IMPLIED 22.5 TCF. ^OFFICIAL START-UP END 2017. SOURCE: MEES, BASED ON ENI STATEMENTS & PRESENTATIONS. DRILLING EXPEDITED IN SEARCH FOR MORE ZOHR Eni is set to drill Block 9 in late 2017, Mr Barberis says. Eni drilled two previous wells here in early 2015. These fl...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Qatargas Ramps Up Output At Ras Laffan 2 Splitter
...mpletion in Q3 2016. While a recent Ministry of Development Planning report said start-up had been pushed back from Q4 2016 to 2017 (MEES, 24 June), the latest information suggests a Q4 2016 start-up is still possible. Ras Laffan 2 will process untreated condensate from the giant offshore North Field. Th...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Morocco Awards Three PV Projects, As Mena Gets Serious About Solar
...ll as 80MW at Laayoune and 20MW at Boujdour in the Moroccan-occupied Western Sahara. Construction will begin in Q1 2017 and take 12 months. Acwa says the Noor PV1 electricity price is US¢4.8/kWh. This lowest bid is significantly higher than the ¢2.99/kWh for the 800MW third phase of the 5GW solar pa...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
‘Iran Is A Risk…The US Is A Risk’ Total’s Pouyanné Speaks To MEES
...oduction, 9% last year, more than 4% this year, more than 4% next year. We have a huge portfolio of projects. The strategy for me is that in a commodity business with volatility you need to invest when the price is low because the costs are lower too. But you need cash to do that. From 2017 we will again sa...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Saudi Delayed Payments Risk Slowing Economy Further
...nth confirmed that the Petro Rabigh 2 expansion had been pushed back to the second half of 2017 due to delays in the schedule and scope changes in the work program (MEES, 7 October). A contractual dispute with South Korea's SK Engineering & Construction led to the 400,000 b/d Jazan refinery being pu...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Middle East To Drive Gas Growth, But Is It Sustainable?
...ian countries. Spot prices in East Asia were reported at around $6.6/mn BTU in October, compared with around $12/mn BTU a year ago. “We expect LNG prices to fall by around 20% next year, and by another 18% in 2017,” Moses Rahnama, gas analyst at London-based Energy Aspects tells MEES. LNG pr...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Egypt Tying Up Gas-Fired Finance, Looks To Advance Renewables And Nuclear
...s-fired turbines will be installed in three 4.8GW combined cycle gas-turbine (CCGT) plants, at Beni Suef, Burullus and a planned new capital city 45km east of Cairo. These will be built by Egyptian firms Elsewedy Electric and Orascom Construction for start-up during 2017-20. Each plant will co...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Opec Market Share Policy To Bear Fruit Next Decade - But Not For All
...intain expensive plans to hike output. This assertion was backed up by Mr Mazru’i at Adipec in Abu Dhabi on 9 November, who stated that the fall in oil prices had not changed the country’s vision. He reaffirmed his commitment to increasing crude production to 3.5mn b/d by 2017, a target the IEA ap...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Israel Reaches Final Hurdle Before Gas Outline Implementation
...livered between 1 January 2016 and 30 June 2017, with Defa thought to favor bids that stipulate an earlier start date (MEES, 18 April 2014). Three bids are currently on the table: from a Greek consortium headed by local businessmen; from trading giant Vitol which this year opened an oil products st...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015