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Saudi Halts Bab al-Mandeb Fuel Oil Transfers
...livered in October is the smallest monthly figure in Kpler’s records dating back to January 2017. In reality, it will have been the smallest in at least a decade, if not this century, given how embedded the Gulf-Red Sea route is in Saudi Arabia’s supply chain. Key facilities such as the 6GW Rabigh and 5....
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
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 -
Adnoc/ADQ JV Launches $5bn Plan For Ruwais Petchems
...18). This is part of a 2030 strategy to boost refining capacity by 60% to 1.44mn b/d and more than triple petchems capacity to 14.4mn t/y by 2025 (MEES, 1 December 2017). Adnoc and ADQ announced on 10 November that ‘anchor’ projects will be promoted as part of a $5bn first phase of the park, with de...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
New Hydrocracker Boosts Egypt To New Downstream Records
...the 1969-vintage Cairo refinery which they have been built alongside. Though the plant has a nominal 199,000 b/d of crude distillation capacity, typical throughputs in recent years have not topped half this: they were 96,000 b/d for 2017-18, the latest available data. And of the plant’s 2017-18 ou...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Iraq Refining: Output Tops 800,000 B/D For First Time In Q3
...*Federal Iraq’s total refinery output continued its upward surge, averaging 801,000 b/d in Q3 versus 760,000 b/d in 3Q 2018 and just 540,000 b/d in 3Q 2017. August’s 826,000 b/d was an all-time record. *The rehabilitation of the Salahuddin-1 and Salahuddin-2 (both 70,000 b/d) units at...
Volume: 62Issue: 47Published at Fri, 22 Nov 2019 -
Rabigh-2 Completion Broadens Saudi Petchems Palette
...9mn t/y mixed-feed cracker and an aromatics plant, processing locally available ethane and naphtha to deliver a range of high-value chemicals – many new to the kingdom for the first time – as well as polyolefins (MEES, 18 August 2017). Aramco’s Petro Rabigh JV processes ethane as well as naphtha from th...
Volume: 62Issue: 45Published at Fri, 08 Nov 2019 -
Kuwait Launches Refining Expansion Plan, Readies For Clean Fuels Commissioning
...two 300,000 b/d refineries (MEES, 20 April). But it appears Kuwait is opting for one new plant and the expansion of existing ones. KUWAIT REFINING CAPACITY (MN B/D, END YEAR) *ASSUMES CLEAN FUELS PROJECT FULLY ONLINE IN 2019, Al-ZOUR FULLY ONLINE IN 2020. ^SHUT DOWN END-MAR 2017. SO...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Oman Plots OOC-Orpic Merger, Beginning With Downstream Assets
...conventional business” to maximize gains from its geologically complex Oman assets (MEES, 9 November). OOC is looking to replicate its IOC magic once again with Italy’s Eni. The firm entered Oman in 2017 taking operatorship of the massive offshore Block 52 asset with OOC riding shotgun. The Italians are cl...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
IEA Report Offers Succour To Gulf Refiners’ Petchems-Focused Strategies
...Gulf NOCs have put petchems at the heart of their downstream strategies. The latest IEA forecast suggests this is a prudent approach. Global oil demand is expected to grow by 12% from almost 95mn b/d in 2017 to over 106mn b/d in 2040, according to the latest annual forecast from the In...
Volume: 61Issue: 46Published at Fri, 16 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?
...th the latter in the less wealthy countries. With HSFO prices expected to tumble in the wake of the IMO restrictions, those countries exporting substantial volumes are set to see revenues fall. Saudi Arabia is Mena’s largest fuel oil exporter, averaging 255,000 b/d in 2017 and 322,000 b/d in the fi...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Hyundai Eyes Iran Exit
...port Bank of Korea (Kexim), although the total investment required for the preliminary deals was significantly more than the amount pledged officially. In June 2017 Kexim agreed with former Iranian finance minister Ali Tayyebnia to open an $8bn line of credit to fund infrastructure projects in Iran. Th...
Volume: 61Issue: 44Published at Fri, 02 Nov 2018 -
Adnoc Adds To Ambitious Downstream Plans, Mulls Retail IPO
...vestment decision for these was intended by the end of 2017, but there have been no reports of feasibility studies so far. Adnoc also plans a gasoline and aromatics project at Ruwais, to be integrated with existing refining units, but has not announced a schedule. This week Adnoc signed an MoU with Sp...
Volume: 60Issue: 46Published at Fri, 17 Nov 2017 -
Saudi Petchems Gets Oil Price Boost; Sabic Chief Warns On Cheap Feedstock Addiction
...ntinues to pick up pace. Little of the quarter-on-quarter increase could be attributed to rising oil prices, to which petrochemicals export prices are linked: prices for Saudi Arabia’s Arab Light crude grade rose by a modest 2.9% to $50/B for Q3 2017. However, the 26% profits increase for the fi...
Volume: 60Issue: 44Published at Fri, 03 Nov 2017 -
Qatargas Ramps Up Output At Ras Laffan 2 Splitter
...mpletion in Q3 2016. While a recent Ministry of Development Planning report said start-up had been pushed back from Q4 2016 to 2017 (MEES, 24 June), the latest information suggests a Q4 2016 start-up is still possible. Ras Laffan 2 will process untreated condensate from the giant offshore North Field. Th...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Saudi Exports, Output Full Steam Ahead Pre-Opec Meeting
...,000 b/d to 41,000 b/d. Yanbu’s manager Shaker Mahrous says “In terms of gasoline production, Yanbu Refinery is already in 2017, as it has achieved its 2017 year-end gasoline production target.” Refined products demand declined by 7% from 2.186mn b/d to 2.028mn b/d for September, and demand is slightly lo...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
Sonatrach Taps China For Algiers Refinery Revamp
...mpany says –probably optimistically – it could likely finance the program from its own resources if oil prices return above $60/B from 2017, or could tap domestic banks if prices were lower. However, the recent appointment of Noureddine Boutarfa as Energy Minister means on official open-minded about ou...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Kuwait To Invest In Oman’s Duqm Refinery
...oduce light products for export and bunkers for the port. Adnoc has since announced vague plans for downstream expansion (see p2). OOC says the Duqm site has been levelled and a final investment decision is set for Q2 2017. DRPIC last year invited seven prequalified firms and consortia to bid for th...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
Oman Invites Bids For Building Duqm Refinery, Awards Liwa Cracker
...r a PET technology license. Ompet had planned to achieve financial close for its PTA/PET plant by mid-year, with a view to project start-up in 2017. However, the financial arrangements have yet to be concluded, which suggests that the PTA/PET plant start-up target is likely to be pushed into 20...
Volume: 58Issue: 48Published at Fri, 27 Nov 2015 -
Middle East To Drive Gas Growth, But Is It Sustainable?
...ian countries. Spot prices in East Asia were reported at around $6.6/mn BTU in October, compared with around $12/mn BTU a year ago. “We expect LNG prices to fall by around 20% next year, and by another 18% in 2017,” Moses Rahnama, gas analyst at London-based Energy Aspects tells MEES. LNG pr...
Volume: 58Issue: 47Published at Fri, 20 Nov 2015