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Tunisia Project Delays Threaten 2019 Capacity Crunch
...450MW in combined cycle mode with the start up of the second turbine in May 2020. Japan’s Mitsubishi Hitachi Power System (MHPS) and Sumitomo won the $340mn EPC contract (MEES, 30 June 2017). The capacity crunch is even more worrying than these figures suggest, given the country’s rapidly-ag...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Gulf Refiners Aim For 10% Capacity Hike In 2019
...vaged fleet (MEES, 19 October). This will likely see the region’s refiners process record volumes of crude oil and condensate. Throughputs for the first 10 months of 2018 were 7.26mn b/d, a modest increase on 2017’s record high of 7.24mn b/d (see charts). GULF REFINERY INTAKE* (MN B/D) *DA...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Lebanon’s Ailing Economy: Will The Music Stop in 2019?
...flux of infrastructure spending (capex accounted for only 7% of 2017 government spending; see table), but disbursement hinges on a host of fiscal reforms. A government has yet to be formed despite seven months of political horse-trading following May elections, thus delaying the reforms needed to un...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Adnoc Integrating Petchems At Ruwais
...Abu Dhabi state firm Adnoc’s refining focus in 2019 will be on returning to service a residue fluid catalytic cracker (RFCC) at its 417,000 b/d Ruwais West refinery. The RFCC was damaged in a fire in early 2017 and is being rebuilt by Korea’s GS Engineering & Construction (MEES, 7 July 2017...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Saudi Arabia: Cutting Its Way To A 2019 Production Increase?
...Saudi Arabia says that it will do the heavy lifting under the latest round of Opec cuts, cutting deeper than its commitment if necessary. Its willingness to do so is not in question, after all it did exactly this under the previous round of cuts in place since January 2017. Yet it can exceed it...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Kuwait: Politics Is Back
...mber of sitting MPs who were handed jail sentences in absentia in November 2017. Two, Waleed al-Tabatabaei and Jamaan al-Harbash, were members of the current parliament, but MPs voted in favor of them retaining their seats. Kuwait’s constitutional court this week ruled that vote unconstitutional, ef...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Adnoc Brings OMV Onboard Sour Gas Project
...rough its LNG facilities in 2017, while 16.4bcm of natural gas was imported from Qatar through the Dolphin pipeline. Imports have continued despite the UAE’s 18-month embargo of Qatar. OMV BOLSTERS UAE PRESENCE This is OMV’s second major upstream advance in Abu Dhabi of 2018. The firm was aw...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Qatar Petroleum Eyes Big Results Overseas In 2019
...s overseas activity since late 2017, securing a swathe of assets. The latest move was announced on 16 December, with a 35% farm-in to Eni’s 2.1bn barrel “Area 1” offshore Mexico which contains three fields. The move was especially notable as the partners (Eni 65%, QP 35%) say that initial output fr...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
2018 Mena Remittance Inflows: Top 10 Countries
...EGYPT IS WAY OUT IN FRONT IN ABSOLUTE TERMS ($BN) AS A % OF GDP REMITTANCES ARE MOST IMPORTANT FOR YEMEN, PALESTINE & lebanon EGYPT AND PALESTINE HAVE SEEN THE BIGGEST % GROWTH THIS YEAR (2018 VS 2017) *IDENTICAL FIGURES GIVEN FOR EACH OF THE PAST FIVE YEARS FOR YE...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
UAE Cuts Aluminium Power Use
...ll capacity. Replacing old plants, whose efficiency could be as low as 33%, could hence save as much as 75mn cfd. Such savings are attractive for gas importers like the UAE: the emirates’ gas deficit for 2017 was 11.8bcm (1.14bn cfd). This was met with 1.58bn cfd of imports from Qatar through the Do...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Bahrain Set For Vat Roll Out
...ssibility for implementation, but won’t yet commit. Meanwhile, Kuwait says it won’t introduce VAT until 2021, while Qatar has been out in the cold since the Saudi-led embargo began in June 2017. Bahrain’s budget projects a $3.5bn deficit this year and needs all the additional revenue it can get. The IMF se...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
…Edison Reiterates Drilling Pledge
...ich Dea previously applied for development leases, whilst North Idku saw significant discoveries as far back as 1999 and 2002 (MEES, 29 April 2002). Edison’s 2017 report books reserves of 6mn boe (around 28bn ft³) for the two blocks, a figure that appears modest when compared to the discovery wells, on...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Oman: Oxy Inks Two New Blocks
...rget. Oxy has 100% of Block 51 whilst 65 will be operated via a joint venture with state Oman Oil Company. Both offered up in the 2017 bid round (MEES, 15 September), the blocks add to Oxy’s already sizeable Oman portfolio and give the firm a 350km contiguous stretch of assets across northern Oman which it...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
Oman: Oxy Inks Two New Blocks
...rget. Oxy has 100% of Block 51 whilst 65 will be operated via a joint venture with state Oman Oil Company. Both offered up in the 2017 bid round (MEES, 15 September), the blocks add to Oxy’s already sizeable Oman portfolio and give the firm a 350km contiguous stretch of assets across northern Oman which it...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018 -
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