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Eni Cements Role As Algeria’s Key Foreign Partner With BP Purchase
...ENAS & IN SALAH GAS PROJECTS PRODUCED 540MN CFD EACH FOR 2022 WITH BOTH WELL DOWN ON 2017-18 LEVELS (MN CFD) ON A NET BASIS ENI (BP) AND FOREIGN PARTNER EQUINOR RECEIVE AND GAS FROM IN SALAH (BP/ENI 179MN CFD, EQUINOR 172MN CFD FOR 2022) AND LIQUIDS ONLY FROM IN AMENAS (15,700 B/D EACH FOR 20...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Iraq-KRG Oil Talks Resume But Wide Differences Remain
...oup, the firm gave up a 60% stake in June 2017 to Russian state-firm Rosneft (MEES, 16 June 2017) which brought capacity to the current 950,000 b/d. Although typically only around half of this is being utilised (see chart). Moving ownership from Kar and Rosneft to INOC in the future would be pr...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Saudi Aramco Plans 50% Gas Output Boost By 2030
...d in 2021, including a single-day output record of 10.8bn cfd. The previous records of 9.03bn cfd and 10.7bn cfd respectively had been set in 2020, and the 170mn cfd year-on-year increase was the fastest annual increase since 2017. Sales gas output has now increased for 15 consecutive years (see ch...
Volume: 65Issue: 12Published at Fri, 25 Mar 2022 -
Algeria Smashes Gas Output Record For 2021, Can It Keep It Up?
...tput records of 94.8bcm and 94.5bcm set in 2016 and 2017, but also breached the 100bcm mark for the first time with production rising 17% to 102.8bcm (9.94bn cfd), according to official Algerian submissions to Jodi (see chart 1). Output continued to roar in January, hitting 9.7bcm – just 0.4bcm shy of...
Volume: 65Issue: 12Published at Fri, 25 Mar 2022 -
Iran Awards Phase 2 Of South Pars Oil Field Development
...talEnergies. South Pars itself is the world’s largest gas field including the Qatari ‘North Dome’ portion. Discovered in 1992, SPOL Phase-1 production began in 2017 (MEES, 24 March 2017) with Iran targeting capacity of 35,000 b/d of 21° API crude oil. Out of nine wells planned in section A2 of the field (se...
Volume: 65Issue: 12Published at Fri, 25 Mar 2022 -
Egypt Powergen Rebounds To Record For 2021 As Oil Burn Makes A Comeback
...lated effects coming on top of a long term downward trend from a 2016 peak after subsidies were phased out from 2017. As for the impact of Covid: 2020 household consumption actually was somewhat higher than 2019 as more people stayed at home, whilst for 2021 the main change was a higher summer peak, pe...
Volume: 65Issue: 12Published at Fri, 25 Mar 2022 -
Lebanese Power Operator Primesouth Files Arbitration Against Iraq
...ngled out the project for corruption since initial plans were made public in 2017. A little-known Dubai based Iraqi oilfield services subcontractor called Al Nukhba Energy was accused of corruption after the electricity ministry chose it to deliver the work. In April 2019, the Iraqi cabinet awarded the 10...
Volume: 65Issue: 12Published at Fri, 25 Mar 2022 -
Egypt Sees Wildcat Drilling Slump
...this, some 5.05bn cfd, coming from the Mediterranean offshore (MEES, 4 March). The key developments that have boosted output to record levels are Eni’s 21.5tcf Zohr field which came online in late 2017 and BP’s West Nile Delta (WND) which started up in phases from 2017. But typical high de...
Volume: 65Issue: 11Published at Fri, 18 Mar 2022 -
Distillate Supply Crunch Concerns Rise As Stocks Fall
...ler (see chart 1). The three-month rolling average of 74,000 b/d in February was the lowest in Kpler data stretching back to January 2017. Many in the market will be hoping that the imposition of fresh lockdowns in Chinese cities may curb domestic demand sufficiently in the short-term to provide some te...
Volume: 65Issue: 11Published at Fri, 18 Mar 2022 -
Opec Production Edges Higher: Just A Drop In The Stormy Ocean
...oduction gains remain uncertain. Venezuela produced more than 2mn b/d as recently as 2017 but will likely require years to return output close to this level. …AND IRAN?... What about talks with Iran on reviving the JCPOA nuclear agreement which have supposedly been on the cusp of co...
Volume: 65Issue: 10Published at Fri, 11 Mar 2022 -
Thailand: Record LNG Imports For 2021 As Qatar Remains Dominant
...figures of over 60% to 2017 (see table and chart). Short-haul supplier Malaysia is number two on 1.07mn tons. Oman supplied a record 255,000 tons (four cargoes), up from two cargoes for 2020. *With domestic output on a long-term downward trend, Thailand has little choice but to increase LN...
Volume: 65Issue: 10Published at Fri, 11 Mar 2022 -
Oxy Eyes New Algeria Contract In 2022
...tober 2017). Though other US firms such as ExxonMobil and Chevron have shown interest in recent years, there has been no real movement on development. Could Oxy be the first?...
Volume: 65Issue: 09Published at Fri, 04 Mar 2022 -
Mauritania: No More Exploration?
...pired at the end of 2021. A fourth BP/Kosmos exploration block, C6, expired in 2020. Of the three relinquished and to-be-relinquished blocks, only C12 has seen an exploration well – 2017’s Lamantin-1 which unsuccessfully targeted oil (MEES, 15 December 2017). As for other deepwater blocks, for now Ex...
Volume: 65Issue: 09Published at Fri, 04 Mar 2022 -
Abu Dhabi Gas Use Drops As Nuclear Meets Record Demand
...nsumed less gas than in any year since 2014 (see chart 3). Gas consumption peaked at 2.35bn cfd in 2017, but has since been steadily falling down to 2.21bn cfd last year. Ewec expects demand to continue rising in the coming years – first to 16.81GW this year, then above 17GW in 2023, before hitting 20...
Volume: 65Issue: 09Published at Fri, 04 Mar 2022 -
Kurdistan Producers Bullish on Field Plans After KRG Payments
...cent record-setting production figures, output has remained below that of the nearby Atrush block (Taqa 47.4%op, Shamaran 27.6%, KRG 25%). Atrush is one of the newest producing fields in Kurdistan, having only started up in 2017, but updates from Canadian minnow Shamaran show that production from the bl...
Volume: 63Issue: 21Published at Fri, 26 Mar 2021 -
Marib Conflict Threatens Yemen’s Struggling Oil Sector
...llapsed to just 14,000 b/d in 2016. Green shoots then began to emerge, first in the eastern Masila Basin where state firm PetroMasila restarted oil production in 2016 (MEES, 15 September 2017). PetroMasila produces 40,000-50,000 b/d from Blocks 10 & 14, of which some 34,000 b/d was exported last year. Oi...
Volume: 64Issue: 12Published at Fri, 26 Mar 2021 -
Ex-Sonatrach CEO Held In Dubai Amid Refinery Probe
...rest warrant “against the main accused” in the ongoing corruption case surrounding Sonatrach’s December 2018 purchase of Italy’s 200,000 b/d Augusta refinery (MEES, 11 May 2018). “The main accused” was widely believed to be Ould Kaddour, who was Sonatrach CEO from 3 April 2017 to 23 April 2019 and le...
Volume: 64Issue: 12Published at Fri, 26 Mar 2021 -
Egypt Power: Plentiful Gas, Falling Demand Make Shortfalls A Distant Memory
...fective capacity with blackouts commonplace. Two key events have transformed Egypt’s power supply situation in recent years. The start up of the giant Zohr offshore gas field at the end of 2017 and its subsequent ramp-up made chronic gas shortages a thing of the past (MEES, 14 September 2018). And 20...
Volume: 64Issue: 12Published at Fri, 26 Mar 2021 -
IEA Shoots Down Speculation Of Emerging Super-Cycle As Oil Price Rally Stalls
...int. From 32.08mn b/d in 2017, the Call on Opec fell to just 28.7mn b/d in 2019. Even by the end of its outlook horizon in 2026 the IEA reckons the ‘call on Opec’ will only have recovered to 30.8mn b/d, still more than 1mn b/d below 2017 levels. OPEC DIVERGENCE: MIND THE GAP While th...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Dubai’s Enoc Imports Qatari Condensate, But Iran Remains The Missing Piece
...loaded 712,000 barrels of deodorized field condensate (DFC) from Qatar’s Ras Laffan at Dubai’s Jebel Ali on 5 March. This was the first such cargo since September 2017. Supplies of Qatari condensate for Enoc’s Jebel Ali splitter had been halted ever since due to the UAE’s participation in the embargo of...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021