LNG As A Shipping Fuel: Can Producers Capitalize On IMO 2020 Sulfur Cap?

...ailable on a regional or local level, especially if there are supply problems or in the event of price hikes post-2020. In its 2017 World Energy Outlook and under its New Policies Scenario, the International Energy Agency (IEA) expects the upcoming regulation to pressure demand for high sulfur fuel oi...

Suez Canal Boosted By Oil Trade Records

...•  2017 was a standout year for the Suez Canal, with record oil shipments both northbound and southbound. Revenues, at $5.276bn, were second only to the record $5.465bn hit in 2014. •  Northbound oil shipments – essentially those from Gulf countries to Europe and the Americas – remain mo...

Key Middle East Producers Ease Off Drilling Going Into 2018

...Last year saw record low global oil and gas discoveries. The 2018 picture looks similar, despite a nascent major return to deepwater drilling. The Middle East, a bright spot in the downturn, kept drilling at near-record levels in 2017, but dwindling cash reserves mean activity has eased. Th...

China LNG Buying At Record Levels, Prices At 3-Year High

...rld’s number two LNG importer over the course of 2017. China imported 33.3mn tons for January-November, up 48% year-on-year. Korea’s imports, at 33.5mn tons for the same period, were slightly higher. •  Although Korean imports are up by a not-inconsiderable 14% year-on-year, this pales alongside the gr...

Libya’s 2017 Energy Fortunes: Good-Ish News On Oil, Less So On Gas As Instability Continues

Egypt Hopes To Restart LNG Exports By 2020: Where Will The Gas Come From?

...e end of 2017 according to local daily Al-Borsa. This comes after state-oil firm EGPC was forced to pay some $480mn towards the bill, costs that were originally to have been covered by LNG exports. But MEES understands Shell is far from happy with the Egyptian authorities as it has failed to fo...

Sharara Restart Pushes Libyan Output Close To 700,000 b/d

...oduction to around 950,000 b/d by early April, are a slightly delayed version of NOC’s more recent plan to increase output to 900,000 b/d by the end of 2016 and to 1.1mn b/d by the end of 2017 (MEES, 18 November 2016). Mr Sanalla is now targeting output of an even more ambitious 1.2mn barrels by the end of th...

South Korean LNG Appetite Thins Out, Prices Remain Under Pressure

...sult of the nuclear expansion (as well as coal and to a lesser extent renewables), analysts from London-based Energy Aspects expect LNG imports to fall by 2.3mn tons (7%) this year and by a further 1.9mn tons (6%) for 2017. Not only was last winter milder than normal in northeast Asia, increased LN...

UAE Plans For Long-Term Gas Imports With North American Investment

...rminal in Fujairah. This will be capable of handling 1.2bn cfd of gas from 2016 or 2017 (MEES, 15 November 2013). It already has a floating regasification unit at Jebel Ali in Dubai. “There is a logic to... diversifying the sources and to have a contribution from the US and Canada,” Mr Mazru’i says. “We...

Kurdish Oil Heads North But Not Yet To Sea

...r substantial gas resources at Miran and Bina Bawi for the Turkish market.” The GSA concluded with Ankara in November 2013, calls for an initial 4 bcm/year of gas exports starting in 2017, rising to 10 bcm/y by 2020 and the option of increasing to 20 bcm/y thereafter, Genel says. It anticipates th...

Oman Moves Forward With 200Mn Barrel Storage Hub

...e hub began last year and are now nearing completion, OTTCO project director Martijn Notten said, adding that work on the front end engineering and design (FEED) would begin only once contracts are agreed with the ministry. The terminal is set to be operational by 2017....