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More Pipeline Problems For Israel-Egypt Gas Deal
...lieves enough has changed to merit launching a bid round so soon after last year’s round received bids by just two companies (MEES, 15 December 2017). He believes that Noble’s gas sales deal with Dolphinus proves gas discovered offshore Israel does have export options. He says this deal, coupled wi...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Total Reaps Mena Rewards Despite Iran Setback
...rs gas field Phase 11 and defend its position in the Abu Dhabi offshore ahead of the March 2018 expiry of its 13.33% stake in the Adma concession. Total successfully secured stakes in two of the three concessions that replaced Adma, and has held 40% at Al Shaheen since July 2017. While the return of...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Saudi September Crude Exports At 20-Month High, But A Fall Is Coming
...ready in the works. Refining runs slipped to a five-month low of 2.63mn b/d in September – albeit still higher than any annual average. Meanwhile, crude exports rose to a 20-month high of 7.43mn b/d (since January 2017), up 220,000 b/d month-on-month (see data p7). January 2017’s 7.71mn b/d was the fi...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Libya Crude Export Revenue Set For Six-Year High
...nuary-September is already well above the firm’s $13bn earnings for 2017 as a whole, when export volumes averaged 790,000 b/d (versus 914,000 b/d for 9M18) and Es Sider averaged $52.8/B (versus $70.6/B for 9M18). MEES calculations put nominal gross crude export revenues at $11.36bn for 1H 2018 ve...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Oman Plots OOC-Orpic Merger, Beginning With Downstream Assets
...conventional business” to maximize gains from its geologically complex Oman assets (MEES, 9 November). OOC is looking to replicate its IOC magic once again with Italy’s Eni. The firm entered Oman in 2017 taking operatorship of the massive offshore Block 52 asset with OOC riding shotgun. The Italians are cl...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Saudi Generators Build Capacity Cushion Ahead Of SEC Split
....12GW in 2017 and 61.74GW for the 2018 summer peak. In addition to Saudi electricity demand appearing to have levelled off for now, the generating capacity cushion could prove vital to ensuring supply reliability as SEC – which is owned 74.3% by sovereign wealth fund PIF, 6.9% by state integrated oi...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Pearl Gives KRG Khor Mor Gas Boost
...The Kurdistan Regional Government’s creative settlement with the Pearl Petroleum consortium in July 2017 is paying dividends (MEES, 13 July). Production capacity at the consortium’s Khor Mor gas field in the region’s southwest was this week boosted 30% from 305mn cfd to 400mn cfd through de...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Oman Economy Set For Strong 2018 Finish
...er the same period last year – a 46% decrease that reflects the all-powerful role international oil prices play in Muscat’s economic wellbeing. If the government can keep end-year spending under control, MEES estimates a full-year deficit of around $5.5-6bn versus $9.76bn in 2017. Such a su...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Iran’s Deficit Soars As Economy Sags
...$1=IR42,000). This shortfall is more than twice the projected deficit of IR164.5 trillion for that period. Indeed, it has already exceeded the projected full year deficit of IR322 trillion. Iran posted a budget deficit of $8.2bn in 2017-18 (IR 270 trillion; MEES, 20 July). To plug the 1H deficit th...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
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