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Oman Gets Opec+ Condensate Boost
...opping 157,000 b/d is condensate – 16.2% (see chart). Oman was only producing 80,000 b/d of the higher-value condensate in late 2017 before the startup of BP’s 1bn cfd Khazzan gas project added some 30,000 b/d (MEES, 27 September 2017). The startup of PDO’s $3.7bn Rabab Harweel Integrated Project (RH...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
Oman Oil Eyes 2020 IPO
...cidental’s 120,000 b/d Muzkhaizna heavy oil field (20% OOC), and several other projects. “Going forward, you will see more of this trend in Oman – where we take a minority share in upstream projects and partner with foreign operators,” OOC chief Isam Saud al-Zadjali said in 2017, highlighting OOC’s role fu...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
Algeria Blocks Total-Oxy-Anadarko Deal
...adarko Africa’ price tag, save for a clear indication that Mozambique accounted for the lion’s share. Total had already acquired 12.25% of the blocks in question (404a and 208) when it bought Maersk’s upstream assets in 2017 (MEES, 27 August 2017). The deal to take Occidental’s operating stakes of 24...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
Opec Output On Track For Eight-Year Low
...ly mean one thing. The only question is: By how much will they fall? MEES calculates that this year’s export revenues are at risk of falling below 2017’s $556bn to around $550bn. Will this week’s outcome lift prices sufficiently for 2019 revenues to scrape ahead of 2017? OPEC WELLHEAD PR...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
Upcoming GCC Summit Raises Qatar Questions
...nsions with Qatar. However, even if the embargo is ended, a return to the pre-June 2017 status quo is highly unlikely (MEES, 9 June 2017). It will take a long time for Qatar’s leadership to regain trust in its neighbors. Qatar has also had to substantially alter its trade flows to replace imports fr...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
Aramco India Strategy Hit By $26bn Price Hike At Downstream JV
...uld conceivably include high value products such as those produced by Aramco and US firm Dow at their Sadara plant at Jubail (MEES, 28 July 2017). Reliance is “the world’s largest integrated producer of polyester fibre and yarn.” Other products include polymers, aromatics, elastomers and composite ma...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
Mena Renewables Programs Boosted By Multilateral Financing
...ojects in Egypt, Morocco, Jordan and Tunisia, while in 2018 it provided loans to Lebanon for the first time. Peak Mena funding was $2.27bn in 2017, while total funding amounted to $10.40bn in 2012-18, including $2.74bn in energy (see charts). In 2018 EBRD invested €1.99bn ($2.24bn) in its five Mena in...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
Egypt: Current Account Deficit Widens Despite Strengthening Growth
...a surplus of $13.7bn the following year and $12.8bn for 2017-18 before slipping to slight deficit for 2018-19 (see chart 2). 1. EGYPT'S CURRENT ACCOUNT DEFICIT ROSE TO $8.2BN FOR 2018-19 AMID LOWER REMITTANCES AND RECORD INVESTMENT OUTFLOWS ($BN) EGYPTIAN FINANCIAL YEARS RUN FROM JULY-JU...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019