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Kuwait Scraps 2020 Target But Minister Reappointment Offers Rare Continuity
...thin the next five years,” so 3.10mn b/d is at least a more concrete target (MEES, 30 August). Underlining the scale of the reduced ambition, this new 2020 target is less than KOC’s capacity in 2017-18 (to end-March), of 3.15mn b/d. Former KOC CEO Jamal Jaafar put capacity even higher at 3....
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Egypt Oil Output Continues Slump
...While Egypt is being forced to limit its gas output (see above), it is a completely different story for oil , with production falling to 615,000 b/d for October, the sixth consecutive monthly decline to the lowest level since March 2017. Egypt’s official target of reaching 690,000 b/d by June ne...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Saudi Arabia Adds Record Volumes To Crude Stocks
...anwhile, refining runs fell to 2.20mn b/d, their lowest level since January 2017. At 21.3% of Saudi Arabia’s reported production, the proportion refined is the lowest since 2016. Run rates had been above 25% since 2017 as the kingdom ramped up throughput at its expanded refinery fleet. Rates may well rise fu...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Kuwait Clean Fuels Progress Impacts Refining Output
...e highest since mid-2015, suggesting a new, or revamped, gasoline unit is operating (see chart). However, average total products output of 864,000 b/d during the first 10 months of 2019 is only 3% down from the 891,000 b/d for both 2017 and 2018, showing that CFP work to the end of October has no...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Qatar Budget Surplus To Shrink In 2020
...wards a $4.9bn surplus, although lower H2 oil prices could ultimately bring this down. Following on from 2018’s $4.1bn surplus, the 2020 budget sets the scene for a third consecutive surplus. However, even the combined surpluses over 2018-20 fall short of the deficit that Doha racked up in 2017 al...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Saudi Fund Pledges SME Support
...F initially announced it would create Jada in 2017, saying that it would create 2,600 jobs and contribute SR400mn ($107mn) to GDP by the end of 2020 – twelve months from now. Boosting the role of the private sector is one of the central tenets of Crown Prince Muhammad’s Vision 2030. But this has pr...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Iran Hands Farzad B Field To Petropars
....7tcf Farzad B field. Indian firm ONGC Videsh had long been interested in developing the field (MEES, 6 January 2017), but the return of US sanctions last year halted negotiations. Petropars is also the sole firm tasked with developing the 2bn cfd South Pars Phase 11 project following the withdrawal of...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Jordan Starts Up Risha Solar
...cal private-sector firm Yellow Door Energy, with the capacity slated to be split between seven sites. Nepco says the Risha plant will deliver around 115GWh of electricity a year. When the power purchase agreement was signed in late 2017, Acwa said it had offered electricity at a cost of US¢5....
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019