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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 -
KRG Sees Signs of Green Shoots In Its Troubled Oil Sector
...tural Resources Ashti Hawrami last month put the debt accrued to buyers in 2014-15 at $2.3bn, of which MEES estimates it has paid off around $200mn this year, meaning that this drain on finances is set to continue for years to come. KRG MAINTAINS EXPORT LEVELS DESPITE PRODUCTION WOES (‘00...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Algeria Raises $5.1bn In Bonds, Taps ADB For $1bn
...ven that spending this year is budgeted at $81.5bn, whilst the country is on track to earn just $25bn from oil and gas exports. Oil and gas export revenue was $60bn in 2014 and $63bn in 2013 when it accounted for a whopping 97% of export revenue (see table). With the collapse in earnings Algeria’s re...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Abu Dhabi Oil Shake-Up: Hold On To Your Hats
...1.4mn t/y of paraxylene and 500,000 t/y of benzene, for which Adnoc’s petrochemicals subsidiary Chemaweyaat and Thailand’s Indorama signed a joint venture agreement in late 2013 (MEES, 3 January 2014). Indorama reportedly pulled out of the project in March 2016, and Chemaweyaat has not announced an...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Oman Power: Foot Off The Gas Despite Khazzan Progress
...readbare international project pipeline. When asked on the firm’s 1 November Q3 earnings call “Given the [cost] deflation you have seen, is it time to step up the FIDs [final investment decisions]?” CFO Brian Gilvary says “we rebuilt the company over 2011 to 2014 [with a massive sell-off of assets to fund ‘De...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Opec Shows No Sign of Cutting Ahead of November Meeting
...now 2.57mn b/d above that of November 2014, when Opec members met in Vienna and opted against cutting to shore up prices. Yet only six Opec members have increased output, and five have seen it fall (see chart). Of these six, the two biggest gainers Iran and Iraq have vociferously claimed that wh...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Lebanon: Can New President Get The Country Moving?
...troleum legislation necessary to launch a bid round for Lebanon’s offshore acreage (MEES, 31 July 2015). After former President Michel Sulaiman completed his term in May 2014, the political vacuum reduced decision making on key issues to a bare minimum. Under the new administration, parliament ne...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Streamlined Oxy Set to Bag UAE Gas Expansion Project
...5% to 8% in 2017.” Capex in the first nine months of 2016 was just $1.99bn, down more than 50% on the same period last year and barely a third of the first nine months of 2014. OCCIDENTAL PETROLEUM: MENA PRODUCTION *DOLPHIN PRODUCTION COMES FROM QATAR'S NORTH FIELD. **EXCLUDES iRAQ, BA...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Algeria Raises Oil Output On Merk Record, Ourhoud Rebound
...mpression project involves two gas turbine driven compressors and expansion of the inlet liquid handling and associated utilities. BP first announced the investment in 2009, for 2014 start-up (MEES, 10 August 2009): it was already running behind schedule before the January 2013 attack knocked it further off co...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016