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East Med Bidding: Lebanon Bags Majors, Israel Goes Greek
...Whilst 2017 bid rounds from both Israel and Lebanon can be considered flops, at least Lebanon has succeeded in drawing in heavyweights Total and Eni. Hot on the heels of Israel’s 13 December announcement of the award of six blocks in the country’s 2017 bid round, neighbor Lebanon an...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
New Kuwaiti Oil Minister Faces Critical Year; Will He Last Longer?
...Fs will contribute 312mn cfd non-associated sour gas to Kuwait next year. Kuwaiti gas output has averaged 1.65bn cfd over the first nine months of 2017, and the additional volumes ought to bring total output to 1.96bn cfd. OVERSEAS DOWNSTREAM EXPANSION With Kuwait planning crude output and ex...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Saudi Targets Major Gas Gains, But LNG Imports Loom
...s the startup of the Wasit gas plant in mid-2016. Wasit has capacity to process 2bn cfd raw gas from the offshore Arabiyah and Hasbah fields, and produce 1.5bn cfd sales gas. 2017 will likewise secure gains as Saudi Arabia will benefit from a full year of the plant’s operations. SAUDI ARABIA GAS PR...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Aramco: Sasref Upgrade At Home, 2019 Start-Up For Malay Plant
...0 180 Overseas Targets: Anning, China (2017) 260 Ratnagiri, India (20...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Egypt, Russia Sign Deal To Start Work On Virgin Nuclear Plant
...rget): GW Fuel Beni Suef (Elsewedy, 2017-20) 4.80 Gas Burullus (Orascom, 2017-20) 4....
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Can Opec Eliminate Stock Overhang In 2018?
...oup's estimated $570bn oil revenues in 2017. Opec and the IEA both raised their expectations for US output gains in 2017 and 2018, with both expecting more than 1mn b/d growth next year. But here the similarities end. While Opec expects continued momentum in the global economy to sustain strong oil de...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
EIA Hikes 2018 Us Output Growth Forecast To 1.24mn B/D
...rmation alone rose by 500,000 b/d between January and November. With September through December 2017 figures revised up from those in last month’s report, the EIA is now projecting 2017 average crude output of 9.24mn b/d, up 380,000 b/d on 2016, but some 170,000 b/d shy of the post-1970 annual high of 9....
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
World Bank Oil Funding Ban To Hit Egypt Hard
...t to be finalized, with a previous target date of June 2017 having come and gone. The project’s reliance on multilaterals and western state lenders could make it vulnerable to moves against funding oil and gas projects. Multilateral lending, including from MIGA, was instrumental in getting Eg...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
KRG: IOCs Nervously Eye Calendar As Payment Wait Drags On
...r the next round. As MEES went to press the next batch of payments had yet to be received, elevating concerns over the KRG’s ability to maintain a regular schedule. In 2017, the KRG has actually improved its record of paying companies. The interval for 2017 payments averaged 31.7 days whereas fo...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Saudi Powers Ahead With Reform Plans
...halve its budget deficit to $42.5bn for 2017 – but this is due to higher oil prices rather than any new policies from Riyadh. Non-oil revenue, the ‘holy grail’ of Vision 2030, is expected to grow by only $1.2bn or 2.4% this year (MEES, 24 November). Riyadh’s ideas for broadening its economy ra...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
Iran Cuts Budget Sharply For 2018-19
...Iran unveiled its draft 2018-19 budget this week. On the surface it’s relatively unchanged from the current year (2017-18), with modest revenue and spending gains penciled in. But, with the IMF pegging inflation at 10%, the budget is in effect sharply reduced in real terms. The new budget co...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017