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Iraqi Fuel Oil Export Surge Raises Smuggling Concerns
...bsidized prices, especially those producing asphalt. Michael Knights, Senior Fellow at the Washington Institute for Near East Policy, has looked closely at the trade, and says “these plants existed since at least 2014 and have bloomed in recent years with licenses issued by the Ministry of Trade and fu...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Iraq Eyes 2024 Refining Boost With 150,000 b/d Baiji CDU Re-Build
...rrorist group when it overran the refinery in 2014 (MEES, 26 September 2014). Now, Iraq’s Oil Minister Hayan Abdulghani has set an ambitious target for it “to begin operations” by 1Q 2024. If successful, this would bring back Baiji capacity to its original 290,000 b/d, after the 70,000 b/d Saladin 1 an...
Volume: 66Issue: 44Published at Fri, 03 Nov 2023 -
Saudi Petchems Firms Post Strong Results Despite Pricy Feedstock
...e first nine months of 2021 are already up to $18.09bn. This is likely to lead to the highest full year profits since 2014, even if there is further slippage in Q4. CEO Yousef al-Benyan says the results “marked a continuation of our recovery from the impact of Covid-19, albeit at a lower level th...
Volume: 64Issue: 44Published at Fri, 05 Nov 2021 -
New Hydrocracker Boosts Egypt To New Downstream Records
...llowing Cairo taking an ax to subsidies (MEES, 12 July). At 700,000 b/d for 9M19 domestic products demand is down 5% year-on-year. Fuel oil, down 36% at 81,000 b/d, has seen the biggest fall with the expansion of gas-fired power capacity. *Egypt has since 2014 been a net oil importer. But up...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
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 -
Bumper Nine Months For Saudi Petchems As Sabic Prepares For Aramco Buy-In
...cent weeks – small firm Alujain is again expected to report late – disclosed total net profits of $7.66bn for the first three quarters of 2018, up 33% on the $5.74bn for the same period in 2017 and up 2.7% on the $7.46bn previous periodic high in 2014. Yet quarterly earnings fell by 12% from $2.89bn in 2Q...
Volume: 61Issue: 45Published at Fri, 09 Nov 2018 -
IMO Tightening Sulfur Limits In Bunker Fuels: Will Mena Refiners Cope?
...ovide IMO-compliant fuels is unclear. Libya has three refineries, but these have mainly been shut in by security concerns of late. Libya’s last data submission to Jodi was in March 2014, when the plants processed 116,000 b/d of crude. Output included 33,000 b/d of fuel oil, of which 4,000 b/d was ex...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
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 -
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 -
Tightening Bunker Sulfur Specs To Boost Regional Diesel Demand
...most triple in 2015 compared with 2014, from 12,000 b/d to 31,000 b/d. In 2015 Rotterdam provided 180,000 b/d of marine bunker fuel, roughly the same as in 2014. SCRUBBER VS FUEL-SWITCH In theory vessels will be able to continue burning fuel oil with more than 0.5% sulfur, but only if they in...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
Oman Invites Bids For Building Duqm Refinery, Awards Liwa Cracker
...ocessing capacity of 222,000 b/d. The latest Jodi data show that state refiner Orpic processed an average 191,000 b/d of Oman crude in the first nine months of 2015, which was 2.6% lower than 196,000 b/d for the same period in 2014. Throughput for the first three quarters of 2015 was equal to the av...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Middle East To Drive Gas Growth, But Is It Sustainable?
...d of the decade.” In absolute terms, however, the IEA cut its outlook for 2040 global gas demand from that in its 2014 WEO, by 218 bcm/year to 5,160 bcm/year in its central scenario, mainly citing the economic slowdown and increased regulation for energy efficiency standards, and competition wi...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
UAE’s Ruwais Expansion Refinery Fully Operational
...oducts capacity in recent years. In 2014 the UAE’s refining companies produced 439,000 b/d of petroleum products, of which 389,000 b/d was consumed locally and 194,000 b/d was exported. The Ruwais Expansion will enable the UAE to eliminate gasoline imports – which averaged 34,000 b/d in 2014 – and in...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015 -
Iraq Awards Technology Contracts For Karbala Refinery, Plans Basra Boost
...nuary-August this year: 46,000 b/d gasoline, 28,000 b/d diesel and 9,000 b/d LPG. Iraq’s products supply has been hit badly by closure of its largest refinery at Baiji since June 2014, due to damage sustained in fighting between government forces and Islamic State (IS) jihadists for control of the si...
Volume: 58Issue: 46Published at Fri, 13 Nov 2015 -
OPEC, IEA Envisage $175Bn-Plus Mideast Refining Outlay To 2040
...2040. Both envisage regional crude distillation capacity surging to 2040, driven by rising local demand and governments’ search for increased revenues from oil resources. OPEC’s recent 2014 World Oil Outlook (WOO) forecasts a 3.7mn b/d increase in Middle East refining capacity to 2040: 2....
Volume: 57Issue: 47Published at Fri, 21 Nov 2014 -
Mideast Refining Surge To Continue Through 2040
...om 8.5% to 12.2%, while OPEC sees a hike from 8.1% to 11.5% (see Table 1). The IEA’s World Energy Outlook (WEO) 2014 envisages Middle East refinery throughputs rising from 6.6mn b/d in 2013 to 8.5mn b/d in 2020 and 10.6mn b/d in 2040. OPEC’s World Oil Outlook (WOO) 2014 (MEES, 7 November), sees ru...
Volume: 57Issue: 46Published at Fri, 14 Nov 2014 -
Egypt Plans Suez Refinery Asphalt, Diesel Expansion
...phalt – this is included in ‘other products’, for which first half 2014 production averaged 22,000 b/d and demand averaged 23,000 b/d. The Suez unit will be one of a number of new diesel sources. A key project is the Egyptian Refining Company (ERC) hydrocracker being built beside the 160,000 b/d st...
Volume: 57Issue: 45Published at Fri, 07 Nov 2014 -
Oman Takes Its Place In Gulf Refining Expansion
...sref) Yanbu’, S Arabia 400 U/C**. Due onstream 2014. Takreer (Ruwais Expansion) Ruwais, UAE 417 U/C. Due onstream 2014. NIOC (Persian Gulf St...
Volume: 56Issue: 48Published at Fri, 29 Nov 2013 -
Mideast Condensate To Increasingly Feed Gulf Petchems
...ed As Petrochemical Feedstock (‘000 B/D) Direct Use Splitters (40% of below numbers)* 2012 2014 2016 2012 2014...
Volume: 56Issue: 47Published at Fri, 22 Nov 2013