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BP, Shell Step Up Egypt Offshore Action
...the east. At North Damietta’s Atoll field, BP plans to drill a fourth development well in 1Q 2020 hiking output from 300mn cfd to 400mn cfd. Discovered in 2015, ‘Phase-1’ Atoll output began in December 2017. Development is also ongoing at the nearby Qattameya field, discovered in March 2017...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Algeria Touat: Imminent
...mpleted in 2016 (MEES, 25 August 2017). The Touat delay has forced Neptune to revise down its overall net output guidance for the year to 150-155,000 boe/d from 155,000 boe/d targeted in its Q1 results. Neptune’s 35% project stake will give it “around 16,000 boe/d net production at plateau,” a level th...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Total Lauds Latest QP Tie Ups
...ighboring blocks 2913B and 2912. QP will take 30% of Block 2913B, with Total retaining a 40% operating stake alongside private firm Impact Oil (20%) and state firm Namco (10%). The block lies 150km west of (ie further offshore from) the Kudu Gas field and Impact says that 3D seismic data acquired in 2017 in...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Mauritania: Total Wildcat
...cember 2017), and Shell with two blocks last year (MEES, 27 July 2018) also see Mauritania as a key part of their international exploration portfolio. As for the Pacific Santa Ana, following the completion of Total’s C-18 well, it will plug and abandon former production wells at the Chinguetti field un...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Saudi Bags Growing Share Of Key Chinese Market
...finers Sinopec and PetroChina shunning Iranian volumes, the bulk of recent arrivals, imported by state trader Zhuhai Zhenrong, appear to have gone into China’s strategic petroleum reserve (SPR), in particular the 19mn barrel site at Jinzhou northeast of Beijing which was completed in 2017. Data in...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Aramco Eyes Chinese Take-Away From Sabic Purchase
...e polyurethane components and other chemicals manufactured at the Sadara joint venture plant of Aramco and US firm Down Chemical in the Saudi downstream hub of Jubail (MEES, 28 July 2017). Indeed China, and Asia more generally, are also key buyers from Saudi refineries. However, the focus has be...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Bahrain’s Oil Sector Optimism Spreads To Powergen
...ve existing grid-linked power plants delivered 17.8TWh of electricity in 2018. Additions from the Alba power plants and the GGC grid took total electricity delivered to the grid to 18.0TWh. Bahrain’s peak load fell slightly to 3.44GW in 2018 from a record 3.57GW in 2017, although the trend in recent ye...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Saudi First Half Export Revenues Slump $6bn
...surprisingly therefore, oil revenues have fallen accordingly (see chart 2). They threaten to fall below $50bn/quarter for the first time since late 2017. The latest trade stats also further highlight the government’s struggles to end Saudi Arabia’s “addiction to oil” as Crown Prince Mohammad pledged in 20...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
US Slashes Tunisia Financial Aid
...18 and a 65% decrease on 2017’s $194mn, according to US Agency for International Development (USAID) data. Since coming into office in 2017 US President Donald Trump has repeatedly called for a decrease in US foreign economic aid. ...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Petrofac Scandals Weigh On Project Pipeline
...gust 2017). The London-listed firm also bagged a $1bn EPC deal in March to develop Algeria’s 2.2tcf Ain Tsila gas-condensate field (MEES, 15 March) – another key client seemingly unphased by Petrofac’s diminishing reputation. In Abu Dhabi it last month won FEED work for the Belbazem offshore pr...
Volume: 62Issue: 35Published at Fri, 30 Aug 2019 -
Saudi Oil Sector Creaking Amid Heavy Opec Cuts And Summer Demand
...nce 2017, according to the latest data released by Jodi covering the first half of the year. This is hardly a surprise considering that Saudi Arabia’s crude production has itself been cut to multi-year lows through Opec’s efforts to rebalance global markets. Saudi Arabia’s reported crude pr...
Volume: 62Issue: 34Published at Fri, 23 Aug 2019 -
Egypt Solar Soars Thanks To Booming Benban Output
...lar park is a major contributor, along with three giant combined cycle gas turbine (CCGT) plants with a combined capacity of 14.4GW developed by state utility EEHC and brought online in 2017-18, in ensuring that Egypt’s installed generating capacity is more than sufficient to meet anticipated peak el...
Volume: 62Issue: 34Published at Fri, 23 Aug 2019 -
Kuwait’s Delayed Refining Projects Set To Slip Further
...21. ^SHUT DOWN END-MAR 2017. SOURCE: KNPC, MEES. KUWAIT REFINED PRODUCTS OUTPUT (000 B/D) *INCLUDES OUTPUT FROM GAS PROCESSING PLANTS. SOURCE: JODI. Al ZOUR RETHINK Kipic, which is building a new refinery as well as integrated petrochemicals units and an LNG im...
Volume: 62Issue: 34Published at Fri, 23 Aug 2019 -
Aramco Restarts Malaysia CDU
...efChem partners have also begun processing imported naphtha to test the project’s 1.2mn t/y cracker (MEES, 5 July). Aramco paid Petronas $7bn for a 50% stake in PrefChem in February 2017, at which time it was called the Refinery and Petrochemical Integrated Development (Rapid) project. The deal enables Ar...
Volume: 62Issue: 34Published at Fri, 23 Aug 2019 -
Saudi Arabia 2Q19 Oil Data: Output Down, Exports Down, Burning Up
...CHANGES EXPRESSED IN PERCENTAGE POINT TERMS WHERE ORIGINAL FIGURES ARE PERCENTAGES. *EXCLUDES FIELD LPG (650-700,000 B/D). **NAPHTHA REFINERY OUTPUT INCLUDED IN 'OTHER PRODUCTS TO DEC 2017 (479,000 B/D FOR 2017). ^PRESUMES ALL FUEL OIL CONSUMPTION IS BURNT IN POWER PLANTS. SOURCE: JO...
Volume: 62Issue: 34Published at Fri, 23 Aug 2019 -
Iraq In Line For Offshore Pipeline Overhaul
...ys the deal involves replacing two existing pipelines. The first supplies the ancient Khor al-Amaya oil terminal (KAAOT; 600,000 b/d) which has remained closed since 2017 due to leakage in the 48-inch pipeline. The second reported pipeline is one “operating at partial capacity to ship crude to the Ba...
Volume: 62Issue: 33Published at Fri, 16 Aug 2019 -
Aramco 1H 2019 Results: More Numbers, But Opacity Remains
...lling to divulge comes as the company prepares for an initial public offering (IPO), now tentatively slated for 2021. This week’s earnings release and accompanying first-ever analysts’ call follows April’s release of comparable numbers for 2018 and 2017 in the prospectus for a $12bn debut international bo...
Volume: 62Issue: 33Published at Fri, 16 Aug 2019 -
Aramco To Buy 20% Of Reliance Refining & Petchems
...DER CONSTRUCTION *MOTIVA JV WITH SHELL SPLIT 2Q 2017. ^ORIGINALLY CALLED 'RAPID'. **SITE CHANGED FROM RATNAGIRI. SOURCE: ARAMCO, PARTNERS....
Volume: 62Issue: 33Published at Fri, 16 Aug 2019 -
Opec’s Market Management Dilemma: From Bad To Worse?
...e Permian Basin, making the region straddling western Texas and southeast New Mexico the centerpiece of not only their US, but their global output plans (MEES, 15 March). Exxon says it is on track to hit 1mn boe/d Permian output by 2024 after paying $6bn in 2017 to expand its regional acreage (ME...
Volume: 62Issue: 33Published at Fri, 16 Aug 2019 -
Egypt: Are Power Shortages History?
...22 (MEES, 24 May). Cairo plans to spend just E£4bn ($229mn) on electricity subsidies in the current financial year, down from an estimated E£16bn ($900mn) in 2017-18. Electricity price increases have led to a 3-4% fall in consumption, local media outlet Amwal Al-Ghad reported on 7 August, citing el...
Volume: 62Issue: 33Published at Fri, 16 Aug 2019