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Kuwait Oil: Change At the Top As 2020 Target Dropped
...nth. Mr Rashidi was only appointed in December 2017, but if he lasts into January then his tenure will have already exceeded that of his immediate two predecessors in the post (MEES, 15 December 2017). This revolving door at the oil ministry exemplifies the political disruption hampering Kuwait’s oil se...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
BP Goes Big On Egypt Gas Expansion
...gher price reflecting the share of development costs accrued between the two dates. BP is also Eni’s longstanding partner in a number of shallow water offshore fields that in 2017 contributed 1.82bn cfd or 37% of the country’s 4.97bn cfd output (MEES, 25 May). EGYPT KEY OFFSHORE GAS IN...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Mauritania: BP Eyes Second Hub With Tortue Set For Take-Off
...PANSION Total has rapidly expanded to rival BP as the leading major in Mauritania, in exploration if not development terms. Having only entered the country in 2017, it this week bagged two more large deepwater and ultra-deepwater blocks to take its total to five – all operated. The latest additions ar...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Moroccan Offshore: Going Nowhere Fast As Eni Hands Back Key Block
...th no guarantee of wells beyond this. Eni does retain the large Tarfaya Offshore Shallow block far to the south (MEES, 22 December 2017). But exploration here remains in its early stages. The only other major off Morocco is Chevron, which acquired three blocks at the start of 2013 (MEES, 1 Fe...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
China’s Zhenhua Acquires Abu Dhabi Concession
...ncession. Adnoc Onshore immediately becomes the crown jewels of Zhenhua’s portfolio, through its North Petroleum International subsidiary (also known as Zhenhua Oil). None of the parties involved have stated how much Zhenhua paid for the asset, but when CEFC secured its 4% stake in February 2017 it paid $88...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
QP Enters Mozambique
...ternational footprint. QP has secured a swathe of international assets over the past two years under Mr Kaabi’s plans to transform the firm beyond all recognition (MEES, 8 December 2017). The bulk of QP’s moves have been in the Americas, in particular Brazil and Mexico (MEES, 5 October). But the firm is...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Market Fundamentals Point To Choppy Outlook For Opec
...mestic challenges. Unlike in the previous round of cuts from January 2017 onwards, where exemptions for Libya and Nigeria were intended to allow them to increase production, this time the exempt members are more likely to add to the scale of the cuts. Iranian production is falling as renewed US sa...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Iraq Pledges 139,000 B/D Cut
...hieves capacity gains. Despite signing up for production cuts in November 2016, Iraqi output hit an annual record 4.43mn b/d in 2017 and is on track for 4.51mn b/d this year. Is another record likely in 2019? Yes. For one thing, MEES estimates the KRG could add 80,000 b/d, including 25,000 b/d each fr...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Jordan: Bye-Bye Conventional Powergen?
...d-2020 (MEES, 28 April 2017). Operator Eesti Energia of Estonia told MEES this week that the project is on schedule for its phase-1 start up in mid-2020. Commercial viability still remains the issue with Jordan’s oil shale dreams. Shell’s Jordan oil shale subsidiary Josco has developed technology to ex...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Oman Seeks Better Gas Management Through State Energy Sector Shake-Up
...ants in percentage terms though absolute volumes are up a touch on 2017. A recent boost to gas production is enabling record LNG exports, which are expected to push total gas consumption close to 45bcm this year (see chart). Oman’s gas output is rising as a result of a number of recent discoveries an...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Qatar: New 2.5GW Plant Powers Economic Growth
...provements in reducing its greenhouse gas emissions have so far come to naught. However, Kahramaa has prequalified 16 international solar power developers to bid for a 500MW solar photovoltaic plant at Al Kharsaah, 80km west of Doha, and is expected to invite bids shortly (MEES, 29 September 2017). QA...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Yemen Peace Talks: Oil Focus
...fact Yemen is already exporting around 50,000 b/d: some 35-40,000 b/d from PetroMasila-operated Blocks 10 & 14 in the eastern Masila basin (MEES, 15 September 2017) and 10,000-12,000 b/d from OMV’s S2 Block in the central Shabwa basin (MEES, 3 August). The biggest potential restart would be $4....
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Lukoil Takes First Kirkuk Volumes
...port pipeline was new oil minister Thamir Ghadhban’s first major accomplishment as minister (MEES, 7 December) and helped add 100,000 b/d from Kirkuk where volumes had been shut-in since 2017. ...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018