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Qalaa Hydrocracker Stake Shrinks
...the plant, built alongside the aging Cairo refinery to upgrade its residual fuel oil output into transport fuels. The ERC plant, whose capital requirement was estimated at $4.3bn at the time of project go-ahead, was first scheduled to start up in early 2017, but construction has been slowed by fu...
Volume: 62Issue: 32Published at Fri, 09 Aug 2019 -
Qatar’s Kahramaa Targets Solar
...gust. Full commercial operation is scheduled for first quarter 2022. Qatar originally intended the project’s capacity to be 500MW and envisaged start-up in mid-2020 (MEES, 29 September 2017). However, gas-rich Qatar has been slow to recognize the benefits of solar power, with solar capacity amounting to ju...
Volume: 62Issue: 32Published at Fri, 09 Aug 2019 -
KRG Gets Vote Of Confidence From Key Upstream Players
...st two years. Until recently, Erbil was squabbling with foreign operators over payments, which hindered investment and output (MEES, 10 February 2017) – a reality further exacerbated by the loss of revenues from 280,000 b/d worth of production after Baghdad retook key Kirkuk fields following the fa...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Iraq Crude Exports Edge Up In July
...rticularly to the post-2014 oil price crash when Iraqi revenues halved to less than $50bn a year. Higher oil prices have nonetheless given Baghdad some breathing room in the last couple years. The government ran a slight surplus in 2017 and a whopping $21.6bn surplus last year. Central Bank of Iraq data fo...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Now Or Never For Leviathan As Partners Re-Float LNG Plans
...lek and Ratio, are eying the further expansion of the field. Discovered back in 2010, the partners only stumbled to a final investment decision in 2017, and this for a greatly scaled back ‘Phase-1A’ project (MEES, 24 February 2017). Though first gas is on track for the end of this year, full field de...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Israel Awards 12 Blocks
...rael Opportunity took Zone D’s four blocks. All three zones are in the southern half of Israel’s EEZ (see map). The small blocks were grouped together in larger zones after a bid round launched 12 months earlier had failed to yield any big names (MEES, 15 December 2017). This tactic also appears to ha...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Total Sees Algeria Revenue Fueling Mozambique LNG Plans
...quired via last year’s Maersk takeover (MEES, 25 August 2017). So the Anadarko deal triples its output from the acreage to just shy of 100,000 b/d. Not surprisingly, Mr Pouyanné says the company “anticipate[s] some efficiency gains” in Algeria as a result of the deal. Total’s overall Algeria output also in...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Tunisia At The Crossroads
...der 25, whose inability to secure formal employment was a key catalyst for the 2010-11 revolution. Creating jobs is thus a political imperative for Tunisia. And an economic one too if is to reach its stated aim of a 3.9% fiscal deficit, down from 2018’s 4.6% and 2017’s 6% (see table). PUBLIC SE...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Oman Cuts Power Growth Forecast, Eyes Lower Gas Burn
...r powergen and instead views incremental gas volumes as a source of additional export revenues. GAS BILL While the reduction in gas burning would be expected to reduce OPWP’s gas bill, it is not clear whether the introduction of time-of-use tariffs for electricity consumers in 2017...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Kuwait In IMO 2020-Inspired Al Zour Rethink
...vised RFCC unit’s capacity will be 98,000 b/d. The upgrading project eventually moved forward in 2017 when UOP was awarded projects for a 50,000 b/d RFCC, a 66,000 b/d CCR and 74,000 b/d naphtha hydrotreater within the Al Zour complex (MEES, 8 December 2017). These latter two units will also likely se...
Volume: 62Issue: 31Published at Fri, 02 Aug 2019 -
Kurdistan Oil Sector Outperforming Expectations in 2018
...With Iraqi Kurdistan set for parliamentary elections on 30 September, politicians can at least point to a modest rebound in crude output this year. But revenues remain well below 2017 levels. The first eight months of 2018 have seen a much-needed return of upstream activity in the KRG, he...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Aramco’s Zombie IPO Laid To Rest, But Sabic Deal Intrigues
...bic, it will allow Aramco to acquire an important asset that it can borrow against. SAUDI ARABIA LEADS IN 2017 AS GCC INTERNATIONAL BOND ISSUANCE SMASHED RECORD ($BN) *TO 20 APRIL. SOURCE: MEES. BONDS TO THE RESCUE OR JUST A BAND-AID? Indeed, with the IPO on hold, all signs po...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Turkey Mixes Business & Politics As Qatar LNG Surges
...re down 6.8% year-on-year in 1H 2018, though this year is still on track to be second only to 2017’s record volumes. Last year’s biggest winners were Russia and Iran, which saw volumes jump 20% to a record 9.25bcm (see table), but both are suffering in 2018. But Iranian volumes have slid since th...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Saudi Woos Pakistan’s New PM But Qatar To Remain Key LNG Supplier
...participate in the economic embargo imposed against Qatar since June 2017 (MEES, 9 June 2017). That Pakistan may now be prepared to tack towards Saudi Arabia’s Qatar policy was indicated by Pakistan’s newly-appointed Minister for Petroleum Ghulam Sarwar Khan (no relation to the PM) who this we...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Oman’s Duqm Development: Dustbowl Or ‘Dubai’?
...erambition. But after five years of mostly bluster, developments are finally picking up. Chinese consortium Oman Wanfang announced in April 2017 the construction of a $10.7bn industrial park – the Sino-Oman Industrial City (see map): preliminary work has begun. Duqm’s airport is also set to see the 17 Se...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Iran Eyes New Partner For Tabriz Refinery Upgrade
...zaj suggests the demise of an August 2017 heads of agreement with Korea’s SK Engineering & Construction for a $1.9bn upgrade of Tabriz (MEES, 11 August 2017). SK has made no announcement. But Tabriz appears to be the second Iranian refining project from which a Korean firm has withdrawn in the fa...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Iraq Readies Baiji Unit
...rect crude burn in power plants, it is replacing the crude with heavy fuel oil from refineries. In 1H 2018, Iraq burned 289,000 b/d of fuel oil – compared with 199,000 b/d in 1H 2017 – out of a total 334,000 b/d of oil burned (MEES, 24 August). Restarting Salahuddin-1 would boost Iraq’s operable cr...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Israel Refiners Pump At Record Levels
...erating at or above 100% capacity for over a year, Paz saw output dip in Q2 with the June completion of an off -gas recovery unit. The unit began operation in July, with Paz “now close to operating at full capacity,” the firm says in its Q2 report, released this week. In 2017 Israel consumed more ga...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Egypt’s Gas Surge Enables Planning Beyond Powergen Needs
...luable liquid fuels from the power mix. EEHC burned a record 8.84mn tons (161,000 b/d) of heavy fuel oil (HFO) in financial year 2015-16. But this fell to 7.15mn t (130,000 b/d) for 2016-17 as gas burning in power plants soared to 3.27bn cfd. For 2017-18 gas burning rose again to 3.60bn cfd for 2017...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Algeria Halves Trade Deficit, Thanks To Higher Oil Prices
...): DEFICIT ON TRACK TO FALL TO $4.2BN FOR 2018 BUT OIL & GAS DEPENDENCE STILL WELL OVER 90% F =FORECAST. PRESUMES OIL PRICES IN LINE WITH CURRENT LEVELS FOR REMAINDER OF 2018. R=REVISED FROM PREVIOUSLY PUBLISHED FIGURES. *GAS EXPORT FIGURES ARE FOR 1H 2018, 2017, OIL EXPORTS FOR JAN-APR. **CH...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018