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Saudi Aramco Completes Key Gas Expansion Project
...wiyah and Haradh gas compression projects, but both have suffered delays since contracts were awarded in 2017 (MEES, 15 December 2017). Aramco noted in its Q3 results on 7 November that “the Hawiyah Gas Plant expansion, part of the Haradh gas increment program, was successfully commissioned and br...
Volume: 66Issue: 45Published at Fri, 10 Nov 2023 -
Asian LNG Demand Remains Weak As Winter Approaches
...maining weak ahead of the key winter demand season. Collective buying by the top five Asian importers – China, Japan, South Korea, India and Taiwan – of 51.9mn tons for Q3 marked the lowest figure for the quarter since 2017, with imports remaining weak for October according to the latest Kpler data. Of...
Volume: 66Issue: 45Published at Fri, 10 Nov 2023 -
Cairo Eases Power Cuts Amid Returning Volumes of Israel Gas
...ypt initially brought in two FSRUs to import LNG in 2015 as gas demand outstripped domestic gas output. But with the 2017 start-up of the 21.5tcf Zohr field domestic gas output soared (see chart, p2) and the need to import LNG lessened: Egypt most recently imported LNG in September 2018. For security of...
Volume: 66Issue: 45Published at Fri, 10 Nov 2023 -
Oman’s Blocks 3&4: Output Rebound Hopes Recede
...her operators the space to hike output. Oman’s upstream optimism received a boost in 2017 with the discovery of the Khazzan tight gas field in Block 61 (BP 40%op, OOC 30%, PTTEP 20%, Petronas 10%). Sparking a gas renaissance in the Sultanate, the completion of the Ghazeer development lifted ca...
Volume: 66Issue: 44Published at Fri, 03 Nov 2023 -
Middle East Firms Ramp Up Drilling Fleets
...between offshore drilling contractor Valaris and Saudi Aramco. ARO started operations in October 2017 and currently operates 15 rigs. The venture says it intends to order 20 new jack-up rigs over the next decade and expects the first two to be delivered in 2023. This pair are to be constructed at th...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Qatar’s Neighborly Exports Jump As Regional Leaders Reconcile
...e extent to which regional states are seeking to draw a line under the damaging Qatar embargo which lasted from June 2017 until January 2021 (MEES, 8 January 2021). That embargo was finally brought to an end at the 5 January 2021 GCC summit at Al Ula in Saudi Arabia. Disagreements may still happen be...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Kuwait Sees Eighth Consecutive Deficit Despite Oil Revenue Surge
...tween the legislative and executive branches of government. Even a debt law required to ease the government’s reliance on direct oil revenues by tapping into its dollar reserves has been stuck since October 2017. Kuwait’s bloated government expenses have depleted its General Reserve Fund (GRF) by some KD...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Uniper Seeks Buyers For Fujairah Refinery
...rket. The two-train topping plant started commercial operations in 2017, and Uniper says it has “the capacity to produce about 5mn t/y of marine fuels with sulfur content as low as 0.1% and up to IMO 2020 specifications [0.5%].” The refinery runs on crude oil feedstock imported on tankers. Data in...
Volume: 65Issue: 46Published at Fri, 18 Nov 2022 -
QatarEnergy Plots Pivotal Iraq Entry Amid Planned Transformation
...transform itself into a major global energy player. “Qatar Petroleum; 10 years from now you will not recognize it,” CEO Saad Sherida al-Kaabi told MEES in 2017 (MEES, 8 December 2017), and in the ensuing five years, the Qatari state energy giant has changed much more than just its name. Mr Ka...
Volume: 65Issue: 11Published at Fri, 11 Nov 2022 -
Kuwait Reshuffles Oil & Gas Sector Leadership
...reverse capacity losses which saw KOC’s crude oil capacity fall to a 12-year low of 2.63mn b/d for 2020-21 (MEES, 22 October 2021), down from a peak of 3.15mn b/d in 2017-18. KOC’s new target is to reach 3.2mn b/d capacity by 2025 as part of KPC’s overall target of 3.5mn b/d. The other 30...
Volume: 65Issue: 45Published at Fri, 11 Nov 2022 -
TotalEnergies Eyes QatarEnergy Partnership In Iraq
...om 2017 to 2020, indicated that moving Iraq’s gas capture projects ahead should take priority. No surprise there given that Iraqi oil ministers have for years stressed that tackling flaring is their top priority, albeit with scant progress to date. Iraq’s new cabinet, in its manifesto submitted to...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
Inpex Eyes Sale Of Stake In Iraq’s Eridu Discovery
...-1) to partner CNPC and fellow Chinese state firm CNOOC (MEES, 29 April). Instead, the stake is to be distributed between oil ministry subsidiary Basrah Oil Company and Indonesian NOC Pertamina (MEES, 29 July). Eridu was discovered in February 2017 and is being developed under an Exploration, De...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
Algeria Prepares Oil & Gas Bid Round
...asons (MEES, 20 October 2017). US firms such as ExxonMobil and Chevron have shown interest in recent years but nothing concrete has been signed so far. Occidental has also hinted at potential shale gas projects. “As a large American company with state-of-the-art shale capabilities we think we have a lo...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
Egypt’s Midsize Gas Producers: Output Down But Receivables Down Too
...ich saw production average 148mn cfd during the first nine months of 2021, down 45% from 2017’s 270mn cfd. Output was just 137mn cfd (28,100 boe/d including liquids) for Q3 with the firm guiding a further fall to just 127mn cfd for Q4 (see chart 1). Though output is set to fall yet further in the fi...
Volume: 64Issue: 46Published at Fri, 19 Nov 2021 -
Qatar Quarterly Export Revenues At 7-Year High
...ports was the highest in MEES quarterly figures stretching back to 2013, as Qatar benefitted from the strongest market for refined products since its 146,000 b/d Ras Laffan II condensate splitter started up in December 2016 (MEES, 6 January 2017). ...
Volume: 64Issue: 45Published at Fri, 12 Nov 2021 -
Iraq Appoints KPMG To Audit Key China Oil-For-Infrastructure Credit Line
...tractive Industries Transparency Initiative, these deductions were paused from 2015 to 2017 when Iraq faced “security constraints” as ISIS took large swaths of the country. After the UN-mandated Kuwaiti deductions, the funds are then moved to an oil settlement account in China where deductions ar...
Volume: 64Issue: 45Published at Fri, 12 Nov 2021 -
Gulf Rig Count Surges In October
...ver mind 2019’s high of 68 (see chart 2). 2: ABU DHABI’S RIG COUNT ROSE BY FOUR IN OCTOBER, ALL OIL RIGS KUWAIT SLUMP *Kuwait long vied with the UAE as the GCC’s number two producer. Until 2017 Kuwait typically had a higher rig count than Abu Dhabi (MEES, 9 July). Bu...
Volume: 64Issue: 45Published at Fri, 12 Nov 2021 -
US Majors: Record Permian Output, More To Come
...me value for a lot less spend,” he adds, referencing a strategy first set out in 2017 (MEES, 17 February 2017) and expanded upon two years later (MEES, 15 March 2019). “We invested in the infrastructure to make sure that we were in a position, once we focused in on and identified the areas we wa...
Volume: 64Issue: 44Published at Fri, 05 Nov 2021 -
Japan Crude Imports: Record Mideast Share As UAE Overtakes Saudi
...ES, 6 August). Other UAE volumes for September included a 235,000-barrel cargo of Sharjah condensate, the first time Japan has taken the grade since March 2017. *Qatar, up 4% at 219,000 b/d for 9M 2021, has overtaken Kuwait, down 18% at 197,000 b/d for number three spot, though Kuwait was ah...
Volume: 64Issue: 44Published at Fri, 05 Nov 2021 -
Iraq Plans Oil Prepayments To Alleviate Financial Meltdown
...uld exceed $20bn this year (see chart 2) – up from a $3.49bn deficit in 2019 and two small surpluses in 2017 and 2018. This prepayment deal will help reduce the gap, but only by a relatively small fraction. On the oil side, Iraq is doing all it can to mitigate the damage. Its planned launch of Ba...
Volume: 63Issue: 48Published at Fri, 27 Nov 2020