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China Gas: Record Domestic Output & Piped Russian Imports Cut Need For LNG
...erland volumes from Russia since the start up of the ‘Power of Siberia’ pipeline at the end of 2019. For 2021 these volumes hit 10bcm, and deliveries saw a further 63% year on year surge to 7.6bcm for 1H 2022. As such LNG’s share of China’s gas imports has fallen below 60% for the first time since 2017, wi...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Kuwait’s Emir Appoints Eldest Son As PM
...bt law’s validity ended in October 2017,” Kuwait withdrew “about KD19.8bn” ($65bn) from its General Reserve Fund (GRF). The fund is now almost exhausted (MEES, 28 January). ...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Saudi Gas Expansion Progress
...A key gas processing expansion project in Saudi Arabia is on track to be completed this year. The 1.07bn cfd Hawiyah gas plant expansion is being developed by Italy’s Saipem under a 2017 contract (MEES, 15 December 2017). Gas shortages mean that Saudi Arabia power and water desalination pl...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
KRG Revenues Up But Dire Finances & Political Disputes With Baghdad Linger
...loitte began auditing the sector in 2017. Once Q2 figures are released they should show a further increase given that oil prices surged in late February following Russia’s invasion of Ukraine and have remained over $100/B for most of the period since. Nevertheless, the Ministry of Natural Re...
Volume: 65Issue: 30Published at Fri, 29 Jul 2022 -
Kuwait Upstream Costs Soar
...ntre (GC-32) which was intended to offset declines elsewhere at the field. The 120,000 b/d facility was awarded to British firm Petrofac in March 2017 and was scheduled to come online in mid-2020. It has yet to be completed. UNCONVENTIONAL AND DIFFICULT The other major ju...
Volume: 65Issue: 29Published at Fri, 22 Jul 2022 -
Saudi Crude Burn Soars
...*Saudi Arabia’s crude oil burn jumped by 130,000 b/d to 582,000 b/d in May. Not just was this up a massive 185,000 b/d year-on-year, but it was the highest May figure since 2017 (see chart & p23 for full Saudi May oil data). Crude oil is burned in power and desalination plants where gas is no...
Volume: 65Issue: 29Published at Fri, 22 Jul 2022 -
Global LNG: Does The Current Boom Risk Seeding Its Own Downfall?
...tright contraction in demand to 2025 and beyond according to IEA projections. For China, the IEA predicts that gas demand growth will fall from an average of 11%/year for 2017-21 to somewhat below 5%/year for 2021-25 as, amid high gas prices, “gas-fired generation remains under pressure in the Ch...
Volume: 65Issue: 28Published at Fri, 15 Jul 2022 -
Opec: Another Month, Another Missed Target
...rget. With oil prices more than $100/B, the country has every reason to maximize output if possible. But gone are the days when the country was able to produce more than 1.7mn b/d – a level it last reached in October 2017. Even with efforts to boost effective capacity over the past few mo...
Volume: 65Issue: 27Published at Fri, 08 Jul 2022 -
Shell Completes The Set For Qatar’s NFE Expansion
...Qatar rounded off partner selection for its $28.75bn 32mn t/y North Field East (NFE) LNG expansion project on 5 July by bringing Shell into the fold. Qatar’s LNG expansion has been hotly anticipated ever since it was first unveiled in 2017 (MEES, 7 April 2017), but amid a global energy crunch it...
Volume: 65Issue: 27Published at Fri, 08 Jul 2022 -
Syria Oil-For-Aid Initiative: Can It Gain Traction?
...the Block 26 assets, Gulfsands says it receives regular updates from GPC personnel who retain access to the fields. Based on these updates, production has actually been remarkably steady at around 20,000 boe/d (mostly crude) since the restart of regular production in 2017 (see chart). Fo...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Opec+ Ratifies Agreement To Unwind Cuts In August
...20. Iraq arguably has the wellhead capacity to go above its August allocation of 4.651mn b/d, but export capacity limitations mean it will struggle to do so (MEES, 15 April), while a 522,000 b/d capacity drop for Kuwait Oil Company (KOC) since 2017/18 means that Kuwait may struggle to hit its 2....
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Qatar LNG Expansion Partners Eye Liquids Riches
...eviously told MEES that “there is nothing determined that we want to sell to anyone in particular. Some is sold on the spot market, some short term, some longer term. Our marketing guys just market it to get the best price” (MEES, 8 December 2017). NFE ethane is earmarked for a 2.08mn t/y ethane cr...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022 -
Exxon Starts Cyprus Seismic, Eyes More Wells
...elded the giant 21.5tcf Zohr field on the other side of the Cyprus/Egypt maritime border. It was Total that confirmed that the ‘Zohr-like’ play extended into Cypriot waters, though its 2017 Onesiphoros well on Block 11 failed to find commercial quantities of gas (MEES, 15 September 2017). Once En...
Volume: 65Issue: 26Published at Fri, 01 Jul 2022