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Algerian Gas Exports Set For Quarter-Century Low
...derlying declines at aging fields. Even though three projects in the southwest with a combined 9.2bcm capacity have come online since 2017, Algeria has recorded output declines in each of the following years. And while the long-delayed 4.5bcm Touat project led by London-based Neptune Energy finally started up...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Not So Rapid: Aramco Malaysia Downstream JV Delayed
...ds. Aramco’s 9 November IPO prospectus says the PrefChem ARDS fire “has delayed the expected commissioning of the facility from the end of 2019 until the second half of 2020.” Aramco paid Petronas $7bn to buy into the PrefChem refinery and integrated petchems project in 2017, when it was called th...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
KRG Eyes Major Boost As Exxon/DNO Firm Up Baeshiqa Light Oil Find
...praisal drilling on the Baeshiqa license it had issued “a notice of discovery” for “light oil and sour gas” to the KRG. Located in territory disputed by Baghdad and the KRG, DNO agreed in 2017 to take half of ExxonMobil’s 64% stake in Baeshiqa and obtain operatorship (MEES, 8 September 2017). The cu...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Saudi Reveals Record Stock Drawdown Post Abqaiq
...re diesel, but at 439,000 b/d, this was actually the lowest since May 2017. This was followed by jet kerosene and gasoline, which both rose above 200,000 b/d for the first time since August 2018 and July 2018 respectively. Net products exports are just about holding on to a year-on-year rise in...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Kuwait Emir’s Son Unleashes Political Upheaval
...e now out of the picture. Despite his own advanced age – 71 – Sheikh Nasser Sabah appeared to be solidifying a position as the front runner to eventually succeed his father. He was appointed deputy prime minister in 2017 and is the key backer of the planned $130bn Silk City megaproject (MEES, 15 De...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
New Hydrocracker Boosts Egypt To New Downstream Records
...the 1969-vintage Cairo refinery which they have been built alongside. Though the plant has a nominal 199,000 b/d of crude distillation capacity, typical throughputs in recent years have not topped half this: they were 96,000 b/d for 2017-18, the latest available data. And of the plant’s 2017-18 ou...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Iraq Refining: Output Tops 800,000 B/D For First Time In Q3
...*Federal Iraq’s total refinery output continued its upward surge, averaging 801,000 b/d in Q3 versus 760,000 b/d in 3Q 2018 and just 540,000 b/d in 3Q 2017. August’s 826,000 b/d was an all-time record. *The rehabilitation of the Salahuddin-1 and Salahuddin-2 (both 70,000 b/d) units at...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Saudi Gas Set To Further Strengthen Domestic Powergen Role
...peline connection (see table). Wasit came online in 2016 and then hit full capacity in 2017. The amount of power generated by gas jumped 717 trillion Btu between 2015 and 2017 as a result, and a similar boost from Fadhili would technically be sufficient to erase crude and diesel burn in the eastern an...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
North Africa Follows UAE, Saudi In Slashing Solar Costs
...uld have cost $649/kW, while its $29.4bn under-development nuclear project with 4.8GW capacity will cost $6,125/kW (MEES, 15 December 2017). UAE/SAUDI SOLAR PV PROJECTS HAVE SET RECORD LOW ELECTRICITY PRICES (US¢/KWH)... ...WHILE NORTH AFRICAN PRICES ARE NOW PLAYING CATCH-UP (US¢/KW...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Iran Gasoline Prices Hike Fuels Nationwide Protest
...an the large demonstrations of December 2017 when 22 people were killed in many cities and towns in protest against poor living conditions (MEES, 19 January 2018). The Ministry of Interior warned the protesters that security forces will step up action against them to restore calm if their “il...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Iran Crude Exports Go Dutch?
...Rotterdam, was long the key international trader in Iranian products: in January 2017 it inked a $1bn pre-finance deal with Tehran to be repaid from products exports. However former CEO Ian Taylor explicitly told MEES in October 2018 that the firm had no intention of trading with Iran under US sa...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Egypt Kicks-Off 2018-19 Fundraising
...an to raise $5bn this year is an indication of its improving finances following its $12bn IMF sponsored financial reform program which officially ended in August of this year (MEES, 13 September). Since entering the program in November 2016 Egypt has borrowed $7bn in 2016-17, $6.5bn in 2017-18 and $6....
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Egypt Inks E&P Deals
...gust) output risks falling below the previous low of 330,000 b/d set in March 2017 whilst Egypt’s overall output looks set to test the 35-year low of 614,000 b/d set the same month (see chart). EGYPT'S SLIDING OIL OUTPUT ('000 B/D) Source: EGPC. ...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019