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Middle East Oil Exports In 2024: A Year Of Transition
...sily breaking 2021’s previous record of 20.0%. Crude still accounts for nearly 80% of total exports, but with more than 22mn barrels of oil being exported from the region every day, a shift of a single percentage point equates to substantial volumes: refined products exports are up by 1.5mn b/d since 2017...
Volume: 67Issue: 51/52Published at Fri, 20 Dec 2024 -
UAE Gas Growth Outlook Revised Up Sharply
...st, with its abundance of low-cost energy resources certainly has a strong business case to attract AI data centers, and the UAE has made no secret of its plans to capitalize on this. It appointed a minister of state for artificial intelligence in 2017, launching the UAE strategy for AI in the same ye...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
Abu Dhabi’s Mubadala Cuts Energy Sector Exposure
...RMDOWN The other major transaction this week involved Mubadala’s fully owned upstream subsidiary, Mubadala Energy (formerly Mubadala Petroleum). Mubadala Energy was led by Mr Kaabi between 2014 and 2017, and he has since remained chairman of the firm. The firm boosted its net output to a record 500,000 bo...
Volume: 65Issue: 51/52Published at Fri, 23 Dec 2022 -
Genel Considers Impairment At Iraqi Kurdistan’s Sarta As Latest Well Flops
...aqi Kurdistan marked a major milestone for the region as the first new field to enter production since 2017 (MEES, 27 November 2020). But more than two years later production has dwindled from initial levels and work on appraising new areas has flopped, leading operator Genel to this week announce an im...
Volume: 65Issue: 50Published at Fri, 16 Dec 2022 -
Tunisia Struggles To Keep Oil & Gas Output Up
...wn from 201mn cfd in 2010. With the concessions only accounting for a tiny fraction of Shell’s global output, the firm has long been looking to concentrate its efforts elsewhere. It was looking to quit Tunisia as far back as 2017, though back then it was looking to at least make some cash from a sa...
Volume: 65Issue: 49Published at Fri, 09 Dec 2022 -
A Tale Of Two Egypts: Onshore Independents Struggle Even As Med Gas Thrives
...s drilling activities, which will have a positive impact on the Company’s production in Egypt,” Dana says. NILE DELTA BLUES Dana’s Egypt gas output fell to 125mn cfd for Q3 (25,800 boe/d including liquids) down from 139mn cfd a year earlier and almost 190mn cfd back in 2017. Ov...
Volume: 65Issue: 48Published at Fri, 02 Dec 2022 -
Adnoc Plans IPO Of Key Gas Midstream Operations
...ES, 3 June). In September 2021, $1.1bn was raised through a 10% offering in Adnoc Drilling (MEES, 24 September 2021), and in October 2021 Adnoc and Egypt’s OCI raised $795mn by floating 13.8% of their Fertiglobe fertilizer JV (MEES, 8 October 2021). The first IPO of a subsidiary was the 2017 fl...
Volume: 65Issue: 48Published at Fri, 02 Dec 2022 -
Qatarenergy Egypt Entry Could Be Prelude To Further Energy Partnerships
...verage our joint expertise,” Shell Egypt country manager Khaled Kacem says. GEOPOLITICAL SHIFT QE’s upstream entry is of geopolitical significance in that Egypt under President Sisi was an enthusiastic backer of the Saudi and UAE-led embargo of Qatar from mid-2017 (MEES, 9 June 2017...
Volume: 64Issue: 50Published at Fri, 17 Dec 2021 -
DME Oman: Assessing A Key Middle East Benchmark
...E Oman to regional NOCs and support them in finding the fair value of crude oil.” The biggest target for DME would be Iraq, which was considering switching from Platts Oman-Dubai to the DME Oman/Platts Dubai combination in 2017 (MEES, 15 September 2017). With production capacity of 5mn b/d, Ir...
Volume: 63Issue: 51Published at Fri, 18 Dec 2020 -
Egypt: Key Eni Wildcat
...pears to have bumped drilling of a fourth development well at the Atoll field from 1Q 2020: the Maersk Discoverer is currently in place. ‘Phase-1’ Atoll output began in December 2017 with the latest well slated to hike production from 300 to 400mn cfd (MEES, 30 August). Following Atoll, the rig will mo...
Volume: 62Issue: 50Published at Fri, 13 Dec 2019 -
Algeria Blocks Total-Oxy-Anadarko Deal
...adarko Africa’ price tag, save for a clear indication that Mozambique accounted for the lion’s share. Total had already acquired 12.25% of the blocks in question (404a and 208) when it bought Maersk’s upstream assets in 2017 (MEES, 27 August 2017). The deal to take Occidental’s operating stakes of 24...
Volume: 62Issue: 49Published at Fri, 06 Dec 2019 -
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 -
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 -
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 -
Oman Carves Up South In Bid To Attract Investment
...st year’s bid round (MEES, 9 November). Nearby Block 71 contains the (less than 10°API) Habhab heavy oil field whose recoverable reserves are technically classified as bitumen and thus need extensive EOR techniques to be profitable. PDO tendered the project in 2017 but little has subsequently come of it...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Adnoc Adds To Gulf LNG Bunkering Plans With Inpex Tie-Up
...e third instance of a Gulf State announcing LNG bunkering plans. Qatar was the first mover, signing an agreement with Shell to develop LNG bunkering infrastructure “at strategic shipping locations around the globe,” although this would most likely be outside Qatar (MEES, 16 June 2017). QP CEO Sa...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Aramco: Can It Pull Off A 2018 IPO?
...ccessful IPO? The twists and turns in the course of preparations for the IPO of state-owned Saudi Aramco have kept investors on the edge of their seats. Cracks in the plans for the IPO have kept appearing and as 2017 draws to a close, the late-2018 deadline looks tighter than ever. The fi...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
KRG: IOCs Nervously Eye Calendar As Payment Wait Drags On
...r the next round. As MEES went to press the next batch of payments had yet to be received, elevating concerns over the KRG’s ability to maintain a regular schedule. In 2017, the KRG has actually improved its record of paying companies. The interval for 2017 payments averaged 31.7 days whereas fo...
Volume: 60Issue: 50Published at Fri, 15 Dec 2017