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Egypt Boosts Power Supply…
...rullus plant to the grid. A key aim is to enable “reliable power supply to energy-intensive industries” near Alexandria, Siemens says singling out “cement, oil and gas and petrochemical facilities.” Blackouts, particularly during the summer peak demand, season plagued Egyptian industry during 2014...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Kuwait Oil: Change At the Top As 2020 Target Dropped
...rgan was pumping at 1.7mn b/d. BP was brought in to help maintain production capacity at 1.7mn b/d with a technical service agreement (TSA) in 2014, which was subsequently upgraded to an enhanced technical service agreement (ETSA) in 2016 (MEES, 15 July 2016). Kuwait saw ETSAs as the best model fo...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Market Fundamentals Point To Choppy Outlook For Opec
...16’s 10.36mn b/d. In other words, since prices crashed in late 2014 amid the US Shale Revolution, the kingdom has actually been producing at record levels. LIGHT, TIGHT GLUT? The other key planned cuts will come from UAE, Kuwait and Iraq, and all four of these, like neighboring Ir...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Libya’s NOC Forced To Shut In Key El Sharara Field
...utdown output level of 73,000 b/d was the highest since 2014 (see chart). NOC head Mustafa Sanalla at last week’s Opec meeting, eager to avoid being subject to output limits as part of the then under-discussion output deal, complained “we have internal cuts inside the country. Unfortunately, we have so...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Qatar: New 2.5GW Plant Powers Economic Growth
...erage electricity demand growth of around 10% a year during 2014-16, according to Kahramaa data. With thousands of visitors set to descend on Qatar for the 2022 World Cup, this could mean new peak demand records. With that in mind, Qatar still has major power projects due online in the near te...
Volume: 61Issue: 50Published at Fri, 14 Dec 2018 -
Qatar Shines Spotlight On OPEC Divisions As It Ends 57-Year Membership
...is week and the numbers make good reading for Doha. Oil and gas revenues of $6.8bn were the highest since December 2014, and as these account for 86% of total export revenues, these were also the highest since December 2014 at $7.9bn. Revenues are on track to be the highest since 2014, exceeding $80...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Adnoc Adds To Gulf LNG Bunkering Plans With Inpex Tie-Up
...thorities have previously considered adding LNG bunkering to their capabilities (MEES, 4 July 2014). As a major established hub, it makes sense to add a new string to Fujairah’s bow with LNG bunkering rather than seek to create an alternative location. Fujairah currently receives gas from Qatar via the Do...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Algeria Set For $5bn 2018 Trade Deficit: As Good As It Gets?
...RTHER RISE IN OIL PRICES WILL BE NEEDED FOR 2019 TO SEE THE FIRST SURPLUS SINCE 2014 *2018 FIGURES ARE JAN-OCT PRO-RATED EXCEPT OIL PRICE WHICH PRESUMES LOWER NOV-DEC VALUES IN LINE WITH LATEST BRENT FUTURES. SOURCE: ALGERIA CUSTOMS, OPEC, MEES CALCULATIONS. PRAYING FOR HIGHER PR...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Sipchem & Sahara To Merge
...mplete by 30 June 2019. Sipchem and Sahara signed an MoU for the merger in October, reviving a plan that was shelved in 2014 as plummeting crude prices slashed petchems revenues (MEES, 9 November). SAUDI PETCHEMS FIRMS BY MARKET CAP ($BN, END Q3): POST-MERGER SIPCHEM CLIMBS TO SIXTH PLACE...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
KRG Prioritizes Investor Confidence Over Stability: Will It Lose Both?
...anslate into lower pay. And salary payments are already well behind schedule. Cuts to Peshmerga salaries would further threaten political stability. The Kurdish military force has been fighting the Islamic State since 2014, though its reputation took a severe knock from October’s loss of Kirkuk (MEES, 20...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Libya: Oil Output Doubles In 2017 But Peace Dividend In The Balance
...ability rests largely on whether the new UN plan can be more successful than its predecessor, and the nature of the outcomes that it delivers. In the context of the intensified conflict that developed in Libya with the administrative division of the country in 2014, there have been some notable su...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Algeria To Retain Gas Focus In 2018 As New Fields Start Up
...ternational investment, but suggestions that this would take place in 2017 have come to nothing (MEES, 20 October). Another upstream licensing round has also been on the agenda since late 2014, but this is unlikely to come to fruition before legislative changes are made. BUILDING BRIDGES In the me...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Morocco: Eni Expansion
...lls in 2014. Eni’s new acreage includes all of Portuguese part-state Galp’s former Tarfaya Offshore block, relinquished in 2016, and most of UK firm Cairn’s Juby Maritime block (late 2015). Galp drilled one dry well, TAO-1, in mid-2014 to a depth of 3,518ms. This targeted the Trident oil prospect in...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Algeria: Could 2018 See An End To Deficits?
...nths of 2017, the first time this has happened for any two-month period since 2014. Algerian gas exports have rebounded strongly since September as domestic demand has eased whilst the country has looked to maximize gas output (MEES, 15 September). The start-up of new gas fields – output from the Re...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Iraq Refining Revamp Gathers Pace, But New Capacity Some Time Away
...inia and Kasak plants. Baiji was Iraq’s largest refinery, with 310,000 b/d crude processing capacity, before it was damaged in fighting between Iraqi forces and Islamic State (IS) jihadists in June 2014. NRC is now rebuilding the Salahuddin-1 and -2 units at Baiji, which before IS overran the site ea...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Riyadh Set To Push For Saudi Power Privatization In 2018
...rkets to fund capital programs. Most recently SEC secured a $1.75bn international syndicated loan, taking to $36.2bn the total of outside funding raised since 2007 – including a $13.2bn ‘soft loan’ from the Ministry of Finance. SEC’s lending was highest during 2014-16, with $3.7bn raised in both 2014 an...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Opec In 2018: More Revenue Less Market Share?
...13 2014 2015 2016 2017^ vs 2016 2018^ vs 20...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Saudi 2018 Budget Delays Austerity To Jump-Start Flat Economy
...ending set to hit the highest level since 2014, in a bid to revive its sluggish economy. Despite running up consecutive multi-billion-dollar deficits since 2014, the kingdom still has relatively low levels of debt, and is prioritizing ending its recession over balancing the budget in the near term. Th...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
New Kuwaiti Oil Minister Faces Critical Year; Will He Last Longer?
...ES, 4 August), requiring a further 422,000 b/d. KPI signed an MoU with Indonesia for a 160,000 b/d refinery in 2010, and with China’s Sinopec for a 300,000 b/d project in 2014 (MEES, 13 June 2014), but both projects have stalled. KPI has spoken of potential projects in India and Philippines. KUWAIT GA...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017 -
World Bank Oil Funding Ban To Hit Egypt Hard
...x blocks, a further two in the Gulf of Suez and the South Disouq block in the onshore Nile Delta. Its most recent awards came in 2014, with the North and South El Baraka blocks on the western shore of the Nile following state oil firm EGPC’s Upper (southern) Egypt arm Ganope’s bid round. EF...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017