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BP Egypt Gas Boost
...tput had slumped to just 400mn cfd late last year, the lowest level since 2017 start-up with almost all current output from the ‘Phase 3’ Raven field. However the start-up last month of two Raven infill wells – the first two wells of the just-completed campaign – should have hiked output to around 60...
Volume: 68Issue: 10Published at Fri, 07 Mar 2025 -
Kuwait Eyes 110kbd At Bahra
...23-24 financial year on 31 March. However, current output is much more modest at 45,000 b/d, perhaps due to Opec+ output constraints (see p10). Bahra, where Kuwait’s first oil well was drilled in 1936, is a mature field producing mainly from the Mauddud formation. Halliburton was brought in 2017 to...
Volume: 67Issue: 10Published at Fri, 08 Mar 2024 -
Iran 210,000 B/D Refining Boost
...A long-delayed new 210,000 b/d CDU at Iran’s century-old 390,000 b/d Abadan refinery was completed on 17 March. First announced in 2017, the CDU is part of an expansion phase that includes a 100,000 b/d VDU upgrading unit which will reduce fuel oil yields from 40% to 20%. Iran secured a $1....
Volume: 66Issue: 12Published at Fri, 24 Mar 2023 -
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 -
Saudi Arabia Reaps Benefit Of Gas Supply Boost
...9,000 b/d were the lowest January figure since 2017. Fuel oil consumption, primarily for power and water desalination, averaged 401,000 b/d, which was down 200,000 b/d on December and also a four-year low. SAUDI ARABIA direct Crude burn (‘000 B/D) HAS STARTED THE YEAR AT LOWS NOT SEEN SINCE 2017...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Saudi Products Exports Slump
...ports of 89,000 b/d. However, for January, this switched to net imports of 7,000 b/d. This marked the first time since May 2018 in which the kingdom was a net importer of the fuel. Moreover, the 383,000 b/d net exports of diesel was the lowest since January 2017. ...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
Egypt Refiners Hit New Highs
...tput (MEES, 24 January). Jet-kero output was a record 68,000 b/d in January, while at 173,000 b/d diesel was the highest since July 2011. Gasoline output was 98,000 b/d, down from December’s all-time high 103,000 b/d, while 87,000 b/d of naphtha was the highest monthly level since August 2017 (see ch...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
Mauritania: Cairn Entry
...ES, 27 August 2012). After making a third sub-commercial discovery, Frégate, in 2012-13 (MEES, 13 February 2013), the two firms quit the acreage in 2017, only for Total to snap up Block C7 later the same year. BP and partner Kosmos are the key players off Mauritania with two major hub LNG de...
Volume: 63Issue: 11Published at Fri, 13 Mar 2020 -
…Keeps Israel Steady
...ficit widened from 1.9% of GDP in 2017 to 2.9% last year and Fitch forecasts it to widen even further to 3.5% of GDP in 2019 before narrowing to 3.0% in 2020. “Israel’s macroeconomic performance has been impressive and the economy remained buoyant in 2018, with real GDP growth of 3.3%, low un...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Qatar Establishing Shariah-Complaint Energy Bank
...nancing, and that this will be progressively scaled up to the targeted $10bn. The institution will provide financing to energy projects both overseas and domestically. Despite being subject to an economic embargo by neighboring states since June 2017, Qatar shows no sign of reigning in its hydrocarbon-ba...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Saudi China Volumes Surge
...n b/d, a level never before breached, culminating in a record 2.13mn b/d in January (the latest available data, see p6). CHINA’S TOP 4* CRUDE SUPPLIERS: SAUDI ARABIA CHALLENGES RUSSIA FOR No.1 SPOT (‘000 B/D) *BASED ON 2018 (& 2017) VOLUMES. BRAZIL, WITH 1.04MN B/D, WAS AHEAD OF IRAQ FOR JA...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Sabic Merging Petrokemya & Sadaf Units
...clude ethylene as well as styrene and ethylene dichloride, which are respectively used to make ABS and PVC. Sabic aims to complete the merger during the second half of 2019. Sabic bought 50% partner Shell out of Sadaf for $820mn in 2017, terminating a joint venture deal due to end in 2020 (MEES, 27 Ja...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Gulf Crude Exports To Korea On The Rise
...ghest since October 2017 and 452,400 b/d from Kuwait. Although volumes from Kuwait are down on month-ago levels they are above the 2018 average of 447,000 b/d. Volumes from Qatar though fell to 65,800 b/d, the lowest MEES has on record dating back to January 2008, while Korea imported a record 43...
Volume: 62Issue: 10Published at Fri, 15 Mar 2019 -
Oman: Junk Rating
...an a sub-investment rating in late 2017 (MEES, 24 November 2017); Fitch followed suit at the end of 2018 (MEES, 21 December 2018). Moody’s says the “key driver” of its downgrade is the “expectation that the scope for fiscal consolidation will remain more significantly constrained by the go...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Aramco 100k B/D Upgrading Feed
...pacity Rabigh refinery on the Saudi Red Sea coast produced just over 100,000 b/d of fuel oil in 2016 and 2017. In a filing to the Saudi Stock Exchange (Tadawul) on 27 February, Petro Rabigh – which is owned 37.5% each by Aramco and Sumitomo with the remaining 25% of shares traded on Tadawul – in...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
Kuwait Set For First LNG Imports Of The Year
...Sahla LNG tanker docked alongside it on 26 February, carrying Kuwait’s first LNG supplies of the year. Al Sahla had not unloaded by the time MEES went to press, so no imports will be registered for February. Final figures are not yet out, but imports last year will have exceeded 2017’s record 3....
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
Mubadala Ties Up Thailand Contract
...und. It also operates the adjacent Andaman I, and has a non-operating stake at Andaman II. Mubadala reports current net output of 360,000 boe/d from its portfolio, up from 320,000 boe/d in 2017. The boost was largely due to its acquisition of 10% at Egypt’s Zohr in March 2018 (MEES, 20 April 2018). ...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
China LNG: Record January Imports; Record Qatar, Oman Volumes
...an, having only ever supplied six cargoes to China to Q3 2017, has now supplied 11 in the last three months: four in November, three in December and four (188,000 tons) in January. Korea is Oman’s top customer taking 360,000 tons (six cargoes) for January, in line with average 2018 deliveries (MEES, 18...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
Chevron, Genel 2020 KRG Vision
....9%, Shamaran 20.1%, Marathon 15%, KRG 25%) in July 2017 (MEES, 14 July 2017). Momentum is again building in Kurdistan’s oil sector, and Chevron is not the only US Major eying production startup. ExxonMobil is developing the Baeshiqa license (DNO 32%op, ExxonMobil 32%, Turkish Energy Company 16%, KR...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019