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Egypt Looks To Kickstart WestMed Exploration With Seismic Surge
...fine their exploration strategies,” PGS says. Cairo previously commissioned PGS to shoot 2D seismic right across the Herodotus Basin in 2017-18 (MEES, 25 January 2019), before choosing to only offer up blocks comprising the nearer-shore portion of the Basin in subsequent drilling. BP DE...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
Yemen’s Breakthrough Truce Threatened By Houthi Military Attacks
...mbined cycle power plant. Yemen’s oil and gas sector had been declining since long before the onset of civil war. Production peaked in 2002 at 457,000 b/d with exports remaining above 100,000 b/d until 2014 (MEES, 15 September 2017). However, since the start of the conflict and the Saudi-led in...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
India Crude Imports: Iraq Rebound As Russia Remains Dominant
...Latest official Indian crude import stats for October show volumes from Iraq rebounding to 1.06mn b/d, the highest since March, and the first over 1mn b/d since April. Iraq was India’s top supplier every year from 2017 to 2022 but Russia has surged ahead this year. India’s imports from Ru...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
Algeria-Turkey LNG Deal
...gerian LNG. Nevertheless, Turkey has taken in excess of its contractual term volumes of Algerian LNG every year since 2017, whilst Turkey has been Algeria’s top export market for each of the past six years. For 2023, Algeria-Turkey volumes are on track to challenge the annual record of 4.37mn to...
Volume: 66Issue: 48Published at Fri, 01 Dec 2023 -
A Tale Of Two Egypts: Onshore Independents Struggle Even As Med Gas Thrives
...s drilling activities, which will have a positive impact on the Company’s production in Egypt,” Dana says. NILE DELTA BLUES Dana’s Egypt gas output fell to 125mn cfd for Q3 (25,800 boe/d including liquids) down from 139mn cfd a year earlier and almost 190mn cfd back in 2017. Ov...
Volume: 65Issue: 48Published at Fri, 02 Dec 2022 -
Adnoc Plans IPO Of Key Gas Midstream Operations
...ES, 3 June). In September 2021, $1.1bn was raised through a 10% offering in Adnoc Drilling (MEES, 24 September 2021), and in October 2021 Adnoc and Egypt’s OCI raised $795mn by floating 13.8% of their Fertiglobe fertilizer JV (MEES, 8 October 2021). The first IPO of a subsidiary was the 2017 fl...
Volume: 65Issue: 48Published at Fri, 02 Dec 2022 -
Israel’s Paz Eyes ‘Ashdod Oil Refinery’ Spin-Off As Margins Surge
...gh margins this year, though revenues were hit by a full maintenance shutdown between May and July which left Q3’s output of 62,700 b/d the lowest since Q2 2017 (see chart 1). Despite the prolonged Paz outage, Israel’s overall refinery output is on course to post a three-year high, averaging 27...
Volume: 65Issue: 48Published at Fri, 02 Dec 2022 -
Aramco’s Moonshot: Jafurah Development To Power Major Gas Drive
...oduction began in 2017 and Aramco puts current North Arabia gas processing capacity at 400mn cfd (MEES, 30 March 2020). Now, clear progress is being made on the two larger developments in Eastern Province – South Ghawar and the Jafurah Basin. At South Ghawar, Aramco reaffirmed this week that first ph...
Volume: 64Issue: 48Published at Fri, 03 Dec 2021 -
Iran Unveils 10 Year Upstream Investment Plan
...Azerbaijan. Until 2019 Iran used to regularly import gas from Turkmenistan to supply northern areas. Volumes peaked in 2017 at around 9.3bcm, before steadily dropping as South Pars output ramped up and Iran struggled to make payments (MEES, 13 January 2017). Mr Owji now says that “debt settlement wi...
Volume: 64Issue: 48Published at Fri, 03 Dec 2021 -
Iraq’s 2030 ‘Sustainable Transition’ Plan: Gas & Renewables To The Fore
...newables by 2030, and 2.3bn cfd of additional gas processing capacity by 2026. The ministry of oil has an even more ambitious gas plan to add 2.49bn cfd of gas processing capacity by 2027 and to achieve zero flaring by 2030 as per a 2017 pledge made to the World Bank. Details of these plans were ou...
Volume: 64Issue: 48Published at Fri, 03 Dec 2021 -
Adnoc Plans $109bn Spend, Prioritizes Gas & Downstream
...e UAE’s crude exports went to Asia-Pacific last year. Japan is perennial #1 customer taking 760,000 b/d for the first nine months of 2017. India is distant second with 360,000 b/d, followed by Thailand (290,000 b/d). ADNOC LOOKS SET TO FALL SHORT OF 3.5MN B/D END-2018 capacity TARGET (MN...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Egypt: Gulf Of Suez Oil Output At 40-Year Low On Back Of Lower Prices, Capex
...% of the country’s total in 2010, to just 253,000 b/d for the first nine months of 2017 (see chart 1). Output has been below 40% of the Egyptian total – a level never before breached – in six of the last eight quarters. The region is where Egypt’s oil output began in the mid-1960s following th...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Payment Problems
...ming of those payments is not transparent,” he says. In an echo of earlier comments Dana says it is looking to “maintain a conservative cash strategy” in Egypt. Its Egypt capex for the first nine months of 2017 was just $28mn, down 74% year-on-year. Upcoming spending will be limited to “three on...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
World’s #2 Lng Importer: With Another Record Month In Oct Will China Overtake Korea?
...KOREA HAS LONG BEEN THE WORLD’S #2 LNG IMPORTER. IT TOOK 33.5MN TONS IN 2016, SECOND ONLY TO JAPAN’S 83.3MN T. KOREA IMPORTS ARE UP 16% AT 30.2MN T FOR THE FIRST 10 MONTHS OF 2017… (MN T) BUT THAT’S NOTHING COMPARED TO THE 48% LEAP IN CHINESE IMPORTS. THESE HAD NEVER TOPPED TH...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Egypt Nuclear Plans Near Go-Ahead, Saudi Looks To Standardize Plant Design
...shehr-2 2024 1.0 1 5.5 Rosatom building. Work started Mar 2017 Pl...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Opec/Russia ‘Historic’ Strategic Alignment: Can It Hold?
...rward, Mr Falih says that Nigeria and Libya have pledged that 2018 production will not exceed this year’s levels. They will not “surprise on the upside” he says. Given the volatility of their output, this presumably means their maximum output in 2017 – some 1mn b/d for Libya and 1.84mn b/d for Nigeria – ra...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Libya’s Waha Ramps Up Output To 260,000 b/d But Challenges Lie Ahead
...s 159,000 b/d in 2013, down from 270,000 b/d in 2009 and 282,000 b/d in 2010. 1: LIBYA WAHA CONSORTIUM CRUDE OUTPUT (‘000 B/D) *21 NOV. SOURCE: CONOCO, MARATHON, HESS, MEES CALCULATIONS. 2: LIBYA’S NOC FALLING SHORT OF LATE 2017 1.25MN B/D TARGET ('000 B/D) ^MABRUK OU...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
North Africa Focus For German $15bn Upstream Tie-Up
...tterOne, which is headed by Russian billionaire Mikhail Fridman. At the time Wintershall was also interested in acquiring DEA. DEA & WINTERSHALL: KEY MENA ASSETS *WINTERSHALL LIBYA OFFICIALLY HAS 100%, BUT GAZPROM HAS 49% OF WINTERSHALL LIBYA. 80,000 B/D IS CAPACITY FIGURE. 2017 OUTPUT HAS AV...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Jordan Budgets For Lower Deficit, Cost Rationalization In 2018
...venues. Unveiling the draft budget to parliament on 25 November, Finance Minister Umar Malhas, said that the deficit (after foreign grants) is projected to fall to JD543mn ($766mn at JD1=$1.41), or 1.8% of GDP in 2018 from the revised JD752mn, or 2.6% of GDP in 2017. Budget expenditure in 2018 will ri...
Volume: 60Issue: 48Published at Fri, 01 Dec 2017 -
Iraq’s Unattractive Contracts Claim Fresh Victim As Shell Eyes The Exit
...ost. Current futures prices indicate that annual oil export revenue for 2017 is on track to surpass 2015 figures and rise above $60bn (see table p10). Of course these price and revenue gains are all contingent on the Opec deal holding - and working - and the next test of this is a planned 9 December me...
Volume: 59Issue: 48Published at Fri, 02 Dec 2016