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Egypt May Ax Coal Plans On Back Of Major Gas, Solar Expansion
...eliminary agreement. The latter is among projects earlier reported as likely to be postponed, along with gas-fired expansions at Damanhour and Mahmoudia (MEES, 16 August). Though final awards were only made last year they are the culmination of a now-outdated strategy set out in 2014 and 2015 as dw...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Algeria’s Renewables Plans Struggle To Advance
...en much better since, with a number of plants coming online. Although it has taken some time, of the big eight CCGT projects awarded in 2012 and 2014, at least two have started up (see map & table). The 1.016GW Ain Arnat CCGT plant in the northeastern Setif province first started up in open-cycle mo...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Saudi Arabia Expects Large Budget Deficits Until 2022
...With Saudi Arabia planning to run budget deficits until 2022, the kingdom’s own figures point to a cumulative deficit since 2014 of more than $450bn. Efforts to kick-start private sector development are essential if the government is to succeed in its critical efforts to reduce the economic de...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Israel Offshore Awards: Small Firms, Smaller Commitments
...rt of the former Daniel West block. Two wells were drilled by Calgary headquartered GeoGlobal in 2012, one on each of Myra and Sara, but both came up dry (MEES, 5 December 2014). Ratio, then partnering Energean, initially attempted to farm-in to Myra and Sara in 2014 in a deal ultimately rebuffed by Is...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Qatar Banks On North Field Leverage To Boost Aggressive Overseas Expansion
...ken in Argentina’s bid round earlier this year – three are operated by Exxon, two by Shell (MEES, 19 April). In the Americas, QP has also taken nine blocks in Brazil – in addition to one from 2014 – eight in Mexico, and two in Guyana. But it remains absent in the US upstream, arguably the world’s la...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Qatar Petroleum Puts Petchems Front & Center
...ed the 1.4mn t/y Al-Sejeel polymers and 1.5mn t/y Al-Karaana ethylene glycol projects amid the late 2014 collapse in crude prices. Despite the new project’s scale, it is still smaller than the combined scope of those two plants. However, new projects may be unveiled at a later date. Asked whether an...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Jordan: Gas Oversupply Threatens Key Startups
...rsue an FSRU at Aqaba (MEES, 21 June 2013) accompanied by an LNG purchase agreement with Shell (MEES, 10 July 2015), establish a slew of new powerplants via independent power producer (IPP) agreements (MEES, 1 August 2014) and focus on long-term domestic alternatives via renewables and oil shale (MEES, 14...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
China LNG Imports (Mn Tons): Qatar Volumes And Share Fall In 9m 2019 With Australia Pulling Away As Top Supplier
...PPLIER WITH 9M19 VOLUMES UP 29% Y-O-Y, THOUGH Q3 SAW THE FIRST QUARTERLY DIP SINCE 2017 QATAR, NUMBER ONE TO 2014, RISKS LOSING EVEN SECOND SPOT. 9M VOLUMES OF 5.7MN T ARE DOWN 13%, WITH MALAYSIA (1.87MN T) AHEAD IN Q3...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
OPEC Faces $200bn+ Question Next Week In Vienna
...nual revenues by around $210bn to $790bn this year. This would be the highest since 2014’s $964bn. But prospects for a further increase next year are slim, especially as Iranian exports will fall year-on-year. Setting out two simple scenarios for 2019 helps clarify what is at stake for the or...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Jordan Energy Goals Remain Hostage To Geography
...x has consequently risen from 4% in 2014 to 35% in 2016 and 2017 (see chart). Even with its FSRU contract running into the mid-2020s, Amman is nonetheless keen to increase natural gas imports and diversify sources. Jordan signed two controversial deals—one in 2014 and one in 2016—to import Is...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Kuwait Launches Refining Expansion Plan, Readies For Clean Fuels Commissioning
...te 2017 completion, the project has been heaviliy delayed and it now appears that commissioning of some units could begin by the end of 2018. The CFP engineering, procurement and construction (EPC) contracts were awarded in three packages in early 2014 – two packages for the Mina Abdullah revamp an...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Saudi Arabia Bags $118bn Trade Surplus In 9M 2018
...16’s annual record (MEES, 23 November). Quarterly oil (and total) revenues were the highest since oil prices collapsed in late 2014/early 2015, but this looks to prove the high-water mark for the immediate future. Oil prices collapsed through October and November, to stand at the lowest levels this ye...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Iran: CNPC Takes Over Total Stake
...is reason in 2014 (MEES, 9 May 2014). The field’s operator Pars Oil and Gas Company (POGC) says output is currently at 580mn cmd (20.5bn cfd). ...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Saudi September Crude Exports At 20-Month High, But A Fall Is Coming
...d India – account for more than half of the kingdom’s exports. But the 3.54mn b/d they collectively imported in Q3 (see chart) was the lowest since 3Q 2014. Volumes were down on recent levels for three of these, with only India seeing a quarter-on-quarter increase. The starkest fall was in China, wh...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Oman Economy Set For Strong 2018 Finish
...cent years: the figure was $5.15bn in 2014. Higher current expenditure is partly down to larger interest payments on loans as well as gas production expenditure which has risen from $380mn to $850mn year-on-year. But the bigger movements are on the revenue side of the ledger. Oil exports are only up...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
OPEC’S Ever-Receding Global Oil Market Dominance
....6mn b/d including NGLs) in 2017 to 44.8% by 2040. Seemingly good news for Opec. But then the IEA’s 2014 WEO predicted Opec’s market share rising to 49.2% by 2040. The number has been cut every year since. • These cuts come despite additions to Opec membership which helped boost the organization’s ba...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Morocco Pushing Renewables, Eyes LNG Imports In Bid For Cleaner Power
...art). Morocco overtook Egypt as Mena’s largest wind generator in 2014 (MEES, 27 April). Morocco added to its wind capacity in June with the completion of the 120MW Khalladi wind farm at Jbel Sendouq, 30km from Tangier. The farm was developed by Saudi private firm Acwa Power at a cost of $170mn, wi...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Tunisia Struggles To Cash In On Democracy
...nis had an opportunity following the 2014 oil price slump to reduce its burden on the budget, but that train has come and gone and higher prices are now causing a massive headache for the fractured government. Although Tunis has incrementally raised fuel prices, thereby reducing subsidies, the su...
Volume: 61Issue: 46Published at Fri, 16 Nov 2018 -
Abu Dhabi Pledges Mammoth $132bn Investment With 5mn b/d Output Plan
...ly Saudi Arabia have long bemoaned the lack of global upstream investment since oil prices collapsed in the second half of 2014. Their take, alongside that of many key industry figures, is that the post-2014 collapse in final investment decisions (FIDs) on major upstream projects presages a shortfall in...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
Repsol, BP & Eni Eye Algeria/Libya Border Bonus
...untry, one of just four awarded in Algeria’s most recent bid round in 2014. Boughezoul appears to have been the location of an Algerian exploration well drilled by Repsol in the first nine months of 2018 which produced a “negative result.” Repsol and Shell committed to drill two wells here: the fi...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018