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Egypt Looks To New Gas Finds To Ease Record Energy Deficit
...ping deficit that will likely get worse this year, Cairo is sticking with ambitious 2017 target start-up dates for its two key gas output expansion projects. Needless to say, gas output of 4.31bn cfd for 2015 was at a 10-year low; it has already fallen further, to 4.07bn cfd, and will almost certainly av...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Algeria Boosts Its Share In Spain’s Gas Imports In 2015
...taling 2.67mn t/y, with Iberdrola, Endesa and Cepsa. The 0.75mn t/y contract with Iberdrola is expected to expire in 2017, with the other two set to end in 2022. SKIKDA STILL OUT Algeria’s 4.5mn t/y Skikda LNG complex remains out of action for maintenance, according to reports. The mega train was ru...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Algeria’s Sonelgaz Eyes Foreign Loans To Bridge $10bn Funding Gap
...nerators and petrochemicals producers, not to mention export customers. However, gas supply prospects received a welcome boost last week with the start-up of four fields in the Southern Fields expansion program at In Salah. These are slated to provide a gross addition of 4.5 bcm/year by 2017, though th...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
IEA Warns Of Future Price Spike As Opec Divisions Deepen
...The supply glut of crude oil is set to extend into 2017 due to the resilience of non-Opec production, according to the IEA’s 2016 Medium Term Oil Market Report (MTOMR), released 22 February. But with global production capacity growth slowing over the report’s 2015-21 timeframe due to in...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Middle East Refiners To Add 2.3mn B/D Capacity By 2022-IEA
...pected to complete its 146,000 b/d Ras Laffan 2 condensate splitter, while the 81,000 b/d expansion of Oman’s Sohar refinery – officially due for 2016 start-up – is expected “around 2017.” Saudi Arabia’s next big refinery, a 400,000 b/d plant at Jazan, is still slated for 2018 but “could well be delayed” as...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Egypt Tying Up Deals For $2.2bn Dairut Power Plant
...art-up during 2017-20 (MEES, 29 January). Turbines for the three 4.8GW plants are being provided by Germany’s Siemens, under an €8bn ($8.81bn) contract. German trade credit insurance agency Euler Hermes is underwriting a €4.1bn, 12-year loan to the Egyptian government to help fund the Siemens de...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
East Mediterranean Gas Faces Crucial 2016
...ant. The tender sought gas volumes rising from 19.5-30.4 trillion BTU in the first year to 25-43 trillion BTU by 2025. According to the terms of the tender, first gas was to be delivered between 1 January 2016 and 30 June 2017 although, with Cyprus currently lacking gas infrastructure of any sort these da...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Skint, Petroceltic Sells Egypt Blocks
...illing North Thekah towards the beginning of 2017. We would consider drilling Port Fouad in 2017 – potentially back to back” (MEES, 27 November, 2015). The attraction of Edison to the two blocks is boosted by it having the Israeli Neta and Royee licenses immediately to the east. Petroceltic was op...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Oman And BP To Expand $16bn Khazzan Gas Project
...velopment of the Sultanate’s oil and gas sector appears unlikely (MEES, 12 February). Indeed, while the overall rig count fell, the number of gas drilling rigs remained at a record 15. Phase One of the Khazzan tight gas project is planned to deliver first gas in late 2017. The10.5 tcf field lies in...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Adnoc Head Replaced As Abu Dhabi Eyes Output Rise
...osting oil production capacity. Adnoc has majority stakes in all of Abu Dhabi’s oil fields, with production around 2.9mn b/d. As such, Adnoc is essential for the UAE’s plans to increase overall production capacity from 3.2mn b/d to 3.5mn b/d in 2017 and Mr Jaber will be expected to bring the dr...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Tunisia Bags EU, IMF Cash But Oil & Gas Output At Record Lows
...untry’s second year of production. Gas output has fared only somewhat less badly (see graph) More bad news came with Austria’s OMV revealing in its 18 February results presentation that first gas from southern Tunisia’s Nawara project has slipped from 2017 to 2018 following the start of pipe laying in De...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Iran Sets Out FDI Strategy As Foreign Cash Starts To Trickle In
...ich projects it to increase to 12.6% in 2017-18 before beginning to fall. Mr Nili adds that the Iranian economy must create 655,000 jobs annually, just to keep unemployment at its current level; to bring down the unemployment rate to below 10% Iran needs to create 1mn jobs each year, he ad...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Saudi ‘Dumping’ Has Cannibalized Opec Revenue For Minor Long-Term Gains
...ve a right answer, we have to consider the majors’ longer term capex plans; because in the long term oil companies will do their best to adjust themselves to the new conditions and continue to make profits and satisfy shareholders. Comparing majors’ capex for 2014 and 2017 shows that though th...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
US Crude Output - Lower For Longer?: EIA Forecasts (Mn B/D By Date Of Forecast)
...SOURCE: EIA SHORT TERM ENERGY OUTLOOKS. FIRST 2017 FORECASTS WERE IN JAN 2016....
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Iran Eyes Growing Gas Shipments To Armenia, Turkey
...end $120mn on a new 400kV Armenia-Iran power transmission line. This would increase capacity from around 300MW to 1GW by 2018. Armenia’s Deputy Energy and Natural Resources Minister Hayk Harutyunyan said in October that he hoped the volume of Iranian gas imports would increase in 2017. Davood Manzoor, Vi...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Iran Inks First Post-Sanctions Petchems Deal: Will It Catalyze Sector Revival?
...uld earn $18bn on petchems sales in the current Iranian year up from $16bn for 2014-15. He says the country’s petchems income is expected to reach $22bn by 2017-18. Mr Zanganeh says Iran’s upstream and downstream expansion plans require a total investment of $200bn: $130bn upstream and $70bn for pe...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Global Oil Overhang To Persist Throughout 2016
...A faltering global economy, dampening oil demand growth and the return of Iran to international markets ensure that oversupply in global oil markets will persist into 2017. Disarray within Opec means that a unified decision to reduce output remains as distant as ever. Moreover, both Opec an...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Morocco Inaugurates 160MW Solar Plant, Starts On Two More
...rmany’s KfW. The completion of Noor 1 takes Morocco’s installed generating capacity to 7.85GW. Morocco’s solar program is part of a government plan to reduce reliance on fossil fuel imports. However, it is also developing coal-fired plants with 320MW and 1.39GW capacity, due online in 2017 and 2018 (MEES, 16...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Morocco: QP Boost
...15: Chevron has had zero Mena output for the past nine months. Chevron says it hopes the spat between the two GCC allies that has cut PNZ output to zero will be resolved with output restarting “by 2017” (MEES, 6 November, 2015). ...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
East Asian Importers Take Less LNG In 2015; Little Sign Of An Upturn In 2016
...uthwestern Japan (MEES, 30 October 2015). “We forecast Japanese LNG imports will be down by another 2.4mn tons in 2016 and by 2.2mn tons in 2017, driven largely by impacts from nuclear plant availability,” analysts at London-based Energy Aspects say in a recent note. GRAPH 1: ASIA’S THREE LARGEST LNG IM...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016