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Mauritania Gas: Torturous Timeframe, Exploration Optimism Despite Drilling Flop
...plorer until 2014, is now close to leaving. The company then had ten Mauritania exploration blocks and operated seven, but slashed its exploration budget in response to the late-2014 oil price crash (MEES, 13 February 2015). Its number of blocks will now fall to just two, with Tullow relinquishing Bl...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Abu Dhabi Completes 1.6GW Gas-Fired Plant
...d Construction and Hyundai Engineering, and Italy’s Ansaldo Energia (MEES, 11 July 2014). DASH FROM GAS The additional 1.24GW of combined cycle gas turbine (CCGT) capacity will add up to 170mn cfd of fuel to Adwea’s gas requirement. The project is the last large gas-fired power plant in Abu Dh...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Algeria: In Amenas Hits Record Production As In Salah Output Halves
...arter results nor the earnings call that followed made any mention of the firm’s Algeria acreage, while the only mention in the firm’s quarterly IFRS report for Q2 was of a $524mn write-off against its share in the Bourarhat licence area in the Illizi basin dating back to Q4 2014. AIN TSILA DUE BY MI...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Iraq’s Giant Rumaila Field: BP-Baghdad Talks Loom Large
...ateau Target (PPT) for West Qurna-2 – down from 1.2mn b/d to 800,000 b/d suggests Baghdad could be amenable to such an offer. BP’s Rumaila PPT is set at 2.1mn b/d, downgraded already from 2.85mn b/d (MEES, 5 September 2014). BP is far from alone in being well off the pace, as Iraq called on IOCs to cu...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Iraq Boosts Export Capacity, Eyes Alternative Routes
...peline. The Iraqi section of Baghdad’s 1.6mn b/d Kirkuk-Ceyhan pipeline was damaged by IS in 2014 and requires extensive work to become operational (MEES, 13 October). As a result, Iraq is eyeing up alternative routes to offer improved flexibility and alternative outlets when adverse weather closes Ba...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Iraq Export Revenues Soar
...Baghdad has received a much-needed boost from the rebound in Brent to over $60/B. The Iraqi government took in $5.45bn in crude export revenues in October, the highest level since October 2014, when oil prices were only just beginning their slump from $100/B. Revenues crashed with the pr...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Saudi Petchems Gets Oil Price Boost; Sabic Chief Warns On Cheap Feedstock Addiction
...ported a bumper third quarter, with combined net profits of SR8.81bn ($2.35bn), up 61% on Q2 to record their highest collective quarterly profit since Q3 2014 (see table). At that time crude oil prices were just beginning their plunge from all-time highs, with Arab Light crude selling for more than $10...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Kuwaiti Government Resigns As Political Dysfunction Grows
...16 1Q17 2Q16 2016 vs 15 2015 2014 2013 Ex...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Total Aims To Become Mena’s Dominant IOC
...eld takes over in June 2017 and could provide Total with around 90,000 b/d, potentially seeing it overtake ExxonMobil to claim top spot in the region for liquids. 1: TOTAL CLAIMS 40% UPSTREAM COST CUTS SINCE 2014 SOURCE: TOTAL, MEES. 2: TOTAL'S RENEWED ADCO SHARE SEES IT OV...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Suez Canal Sees Record Northbound Oil Shipments
...tal cargo shipped is up 9%. SUEZ CANAL MONTHLY REVENUE ($MN): DOWN 8% ON 2014 DESPITE LAST YEAR’S EXPANSION SOURCE: SUEZ CANAL AUTHORITY. NORTHBOUND OIL SHIPMENTS SOAR The key area where the Suez Canal has seen transit volumes rise has been in northbound oil shipments. Saudi Ar...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Kuwait Eyes Push Into US Petchems With Award Of MEG Plant Contract
...ve been considering an aromatics joint venture since 2014. PIC and Noga signed an agreement in late October for a 1.44mn t/y aromatics project, according to Kuwait’s state news agency Kuna. Rapid progress is unlikely on this venture also, given Bahrain’s relatively limited financial resources and ma...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Qatargas Ramps Up Output At Ras Laffan 2 Splitter
...Qatar’s Qatargas has started operations at the Ras Laffan 2 condensate splitter and is ramping up production. But it is not clear how close the operator is to achieving full throughput capacity of 146,000 b/d. When Ras Laffan 2 construction began in 2014, Qatargas predicted plant co...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Morocco Awards Three PV Projects, As Mena Gets Serious About Solar
...solar capacity over two sites near Manah and Adam, respectively 150km and 170km southwest of Muscat. Iran plans 100MW of solar at Aran va Bidgol in Isfahan province. Bahrain built a 5MW solar pilot plant in 2014, and now plans new laws to encourage building owners to install rooftop solar. In No...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Can Opec Get Its Act Together Ahead Of Vienna Meeting?
...giers on 29 September and set its target range, Iraq has been insistent that while it approves of an overall cut, it should be exempt. As the second largest producer in Opec and the one whose production has increased the most during the price slump – 1.24mn b/d since November 2014 – its non-pa...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Trump Sword Of Damocles Hangs Over Global Climate Action
...SITIONS IN FULL Nov 2012 (tweet): "The concept of global warming was created by and for the Chinese in order to make US manufacturing non-competitive" Jan 2014 (tweet): "Is our country still spending money on the GLOBAL WARMING HOAX?" Jan 2016 (Fox & Friends TV show): "I think the climate ch...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
‘Iran Is A Risk…The US Is A Risk’ Total’s Pouyanné Speaks To MEES
...at people are exaggerating. Yes, we have seen a few rigs come back into the picture. But in the US today, you have 450 active oil rigs, it’s nothing compared to what we had in 2014, when it was around 1,400 [see chart, p20]. Yes, this is a potential dynamic, but I think it is not clear how many of th...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Taiwan’s LNG Imports Boosted As Government Plans To Exit Nuclear
...elled power generation. One 600MW reactor at Chinshan has been out of action since the end of 2014 due to technical problems. But the government’s anti-nuclear policy means it is unlikely to come back online with the plant approaching the end of its life in 2018. Technical issues also led to the cl...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Oil Demand To Keep Growing Past 2040 As Opec Share Nears 50% - IEA
....9 100.8 102.8 105.3 107.7 +13.6 *THE US IS EXPECTED TO SUPPLY C.85% OF GLOBAL 2025-30 TIGHT OIL OUTPUT. ^2014-40 FOR 2015 WEO. **CHANGES IN PE...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
IEA On The Energy/Water Nexus
...MIDEAST DOMINATES ENERGY USE FOR DESALINATION, UAE ALONE 50% OF GLOBAL TOTAL (2014, MN TOE) SOURCE: GWI, IEA. MASSIVE DESALINATION EXPANSION WILL REQUIRE 16% OF MIDEAST POWER OUTPUT BY 2040...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
IEA Outlook Trumped By Events
...a good pun to head up the WEO section on the fuel, but it is looking decidedly out of date. According to the IEA projections sharp declines in US, Chinese and EU coal demand over 2014-40 will more or less cancel out a doubling of Indian demand over the same period. But the forecast 40% fall from 62...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016