- Sort by:
- Score
- Published ▼
-
Sarsang Expansion Facility Starts Up
...r this year (see chart). The new facility will be the first significant new capacity addition since the Atrush field, where Shamaran is also present, came online in 2017. While the Genel-operated Sarta came online in late 2020, results have been disappointing (MEES, 13 May) and output averaged ju...
Volume: 65Issue: 43Published at Fri, 28 Oct 2022 -
Hayan Abdulghani Appointed Iraq’s Oil Minister
...tired in 2020. He was previously the chairman of Basrah Gas Company (BGC) and director general of South Gas Company (SGC). Mr Abdulghani was appointed director general of SGC in 2017, switching from his previous role as director general of Basrah Oil Company (BOC), which oversees Iraq’s largest oil fi...
Volume: 65Issue: 43Published at Fri, 28 Oct 2022 -
Europe Turns To Middle East For Replacement Gasoil Supplies
...rope’s imports from the region (including re-exports from Egypt’s Sidi Kerir) jumped by 131,000 b/d to 559,000 b/d in September. This is the highest figure in Kpler data stretching back to January 2017, topping the previous record of 541,000 b/d set in October 2021. But it is still far from su...
Volume: 65Issue: 42Published at Fri, 21 Oct 2022 -
Sabic: Jubail MEG Start-Up
...bsidiary. United (Sabic 75%, Public Pension Agency 15%, General Organization for Social Insurance 10%) awarded Korea’s Samsung Engineering a $700mn contract for construction of the 700,000 t/y MEG plant in December 2017 with completion initially scheduled for 2020 (MEES, 5 January 2018). The facility was fl...
Volume: 65Issue: 42Published at Fri, 21 Oct 2022 -
Egypt Taps Russian Oil, Israeli Gas To Keep LNG Exports Flowing
...wer plants in a bid to maximize gas available for LNG exports at record global spot prices (MEES, 23 September). Having been at just 20,000 b/d for much of 2020 and 2021, fuel oil burn is now running at the highest level since 2017 with August’s 119,000 b/d only marginally down on July’s four year mo...
Volume: 65Issue: 42Published at Fri, 21 Oct 2022 -
One Year After Elections, Iraq Finally Gets PM Nominee
...tober 2017). While Mr Sudani’s links to Mr Maliki may point to difficulties on the horizon, he has also served as Chairman of the Energy Committee of the Iraqi-Saudi Coordination Council. This could bode well for Iraq’s previous efforts to attract Saudi energy investment (MEES, 22 July). WHAT NE...
Volume: 65Issue: 41Published at Fri, 14 Oct 2022 -
Inpex Mulls Exit From Iraq’s Eridu
...ctor firm. The partners estimate the field has 7-12bn barrels of oil in place, of which more than 400mn is recoverable with estimated potential output of 250,000 b/d. Attempts to move the field to development have dragged since its discovery in February 2017, though the ministry confirmed late last ye...
Volume: 65Issue: 40Published at Fri, 07 Oct 2022 -
Kuwait Sets Out Plan To Reverse Capacity Losses
...cilities to handle water produced alongside crude oil. DRILLING RAMP UP KOC drilled 431 development wells last year, the highest annual figure since 651 for 2017-18. Mr Hashem says that in order to achieve its goals, drilling will increase to average 500 wells per year. There will also be “ar...
Volume: 64Issue: 43Published at Fri, 29 Oct 2021 -
BP/Equinor Algeria Gas Output Crash
...s in 2Q20. Partners BP, Equinor and Sonatrach have struggled to halt production declines over the years, despite the completion of field tie-in and compression projects at the fields in 2017 and 2018 (MEES, 7 February 2020). Though Algerian gas output has seen a major turnaround this year (ME...
Volume: 64Issue: 43Published at Fri, 29 Oct 2021 -
Egypt: Current Account Deficit Soars Amid Tourism Collapse & Record Trade Bill
...overall surplus of $1.9bn for 2020-21, the first such surplus since 2017-18, thanks to a 4-year high $18.3bn of “grants and other net investment” (see chart 4). 4: EGYPT’S BALANCE OF PAYMENTS SWUNG TO A SURPLUS FOR 2020-21 MAINLY DUE TO AN INFLOW OF IMF CASH, HELPING OFFSET A RECORD CU...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
Russia’s Tatneft Returns To Libya
...nister (see p18). Though exploration successes in Libya from the four international bid rounds held after 2004 were few and far between, Tatneft was among those to report modest finds (MEES, 28 July 2017). Tatneft holds eight exploration blocks in Libya spread across the Ghadames and Si...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
Kuwait Oil Company Capacity Slumps To 12-Year Low
...rget to 2040, KOC confirmed to MEES earlier this year. Production capacity has now dropped by 522,000 b/d since peaking at 3.15mn b/d in 2017-18; back then KOC still appeared to be in with an outside chance of reaching its 3.65mn b/d target (MEES, 20 April 2018). Despite bringing online he...
Volume: 64Issue: 42Published at Fri, 22 Oct 2021 -
Sonatrach Breaks Ground On Turkey Petchems
...,500 b/d) of propane for use as feedstock until 2040. This is equivalent to around 10% of Algeria’s current LPG exports of 197,000 b/d according to data intelligence firm Kpler (see chart 1). The deal will also solidify Turkey as Algeria’s no. 1 LPG customer, a position it has held since 2017. Algerian ex...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
Egypt: Record Power Generation As Gas Output Rebounds
...79TWh (see chart 4). *Industrial use remains just below 2017-2018 levels at 3.67TWh for July (see chart 5). Business power consumption was the hardest hit by Covid but has witnessed a rebound since May with recent months in line with 2016-18 norms including 0.72TWh for July (see ch...
Volume: 64Issue: 41Published at Fri, 15 Oct 2021 -
Riyadh, Cairo Sign $1.8bn Power Connection Deals
...nafir to Saudi Arabia in 2017 (MEES, 4 August 2017). Saudi Energy Minister Prince Abdulaziz bin Salman heralded the deal as highlighting “the sound directives and proper guidance paid by the two brotherly countries.” Egypt and Saudi Arabia also emphasized the pan-Arab nature of the link, and th...
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Petrofac Hopes To Turn Page After UK Bribery Conviction
...UK-based services firm Petrofac is hoping to put a scandal-riven few years behind it after a UK court on 4 October found it guilty on seven counts of bribery involving payments of $44mn to secure $3.5bn of contracts in Gulf countries between 2011 and 2017. In a case brought by the UK’s Se...
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Iraq Looks To Tap Unbanked Savings With Domestic Bond Issue
...rket. In August 2017, it issued $1bn in its first independent bond offering at an annual rate of 6.752% which is due in 2023. In January of the same year, Baghdad – with the full guarantee of the United States government – issued another $1bn at 2.149% which is due in January next year. Previously, a $2....
Volume: 64Issue: 40Published at Fri, 08 Oct 2021 -
Kuwait Commissions Final CFP Refinery Upgrade Units
...ns can now be expected to rise to their highest level since 2016-17’s 821,000 b/d, before the April 2017 closure of the aged 200,000 b/d Shuaiba refinery (MEES, 31 March 2017). FOCUS ON QUALITY KNPC CEO Waleed al-Bader says the project is a “historic milestone” that will allow the “op...
Volume: 64Issue: 39Published at Fri, 01 Oct 2021 -
Iran Hopes To Develop Iraq Border Fields, Finances & Technology Stand In The Way
...er to the new administration was development of the Azar field. Production began at 30,000 b/d in 2017 and had hit 65,000 b/d and 71.5mn cfd by the end of the 2020-21 Iranian year. On the Iraqi side of the border, the field is operated by Russia’s Gazprom Neft and is known as Badra. The ne...
Volume: 64Issue: 39Published at Fri, 01 Oct 2021 -
Can Opec+ Really Unwind Its Cuts Fully In 2022?
...January 2022 will mark the five-year anniversary of the implementation of Opec+ output cuts. This deal, which came into force back in January 2017, saw the newly-formed alliance agree to cut for a six-month period that could be extended for another six-months (MEES, 2 December 2016). Nearly fi...
Volume: 64Issue: 39Published at Fri, 01 Oct 2021