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Egypt Oil Products Import Bill Soars As Aged Refineries Shunned
...gust and 237,000 b/d for September. As for LNG, Q3’s LNG imports of 1.45mn tons (19 cargoes) were just shy of the all-time high volumes of 2016 and 2017 (MEES, 13 September). Based on pricing at premiums of around $1.50/mn BTU to the European TTF benchmark as per Egypt’s Q3 import awards (MEES, 28 Ju...
Volume: 67Issue: 40Published at Fri, 04 Oct 2024 -
Qatar Breaks Ground On Historic LNG Expansion Project
...eld. These figures stand to be turbocharged by the expansion project. The critical importance of Qatar’s LNG exports to the global economy was also pivotal in enabling the emirate to withstand the 2017-2021 embargo imposed by many of its neighbors. Saudi Arabia and the UAE could not realistically pu...
Volume: 66Issue: 40Published at Fri, 06 Oct 2023 -
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 -
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 -
Gulf Oil Giants Eye Enhanced India Ties
...pand their commercial links. The largest three oil producers in the Middle East (and Opec) are also India’s three largest suppliers (see chart). Opec No.2 Iraq overtook Saudi Arabia as India’s largest supplier in 2017 and has held on to the crown ever since, with both supplying record volumes last ye...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Gulf Condensate Splitters Bring Economic, Strategic Gains
...gineering arm of the Tehran regime’s Islamic Revolutionary Guard Corps (IRGC) built PGS. Work on phase one started in 2007 as the first sanctions against Iran’s nuclear program were introduced and was only completed in 2017 (MEES, 5 May 2017). With Iran again under sanctions but three PGS phases co...
Volume: 62Issue: 43Published at Fri, 25 Oct 2019 -
Aramco Eyes Major Ethylene-Based Texas Expansion
...creasingly in demand in the automotive market (MEES, 28 July 2017). Satorp refinery already has aromatics capacity, delivering up to 1mn t/y of paraxylene, benzene and propylene. The Satorp partners are building an 800,000 t/y polyethylene plant as part of the integration, but are offering some of the cr...
Volume: 62Issue: 41Published at Fri, 11 Oct 2019 -
Falih Eyes Closer Russian Ties, In Opec+ As Well As Aramco Downstream
...tober 2017, saying that “we are confident that there are vast opportunities for expanding and diversifying economic cooperation…[to] push the trade exchange in accordance with the Kingdom’s Vision 2030.” Russian delegates took on prominent roles at this week’s Future Investment Initiative (FII) su...
Volume: 61Issue: 43Published at Fri, 26 Oct 2018 -
Iraq Sends Record Volumes To Its Refineries
...en almost 100,000 b/d sent for refining there, with the products then brought back into northern Iraq. Given that the arrangement survived last October’s Kirkuk offensive when Iraqi troops reclaimed the city and environs from Kurdistan (MEES, 20 October 2017) a cessation looks unlikely, but the ar...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Egypt’s Petchems Producers Step On The Gas
...st short of the 10.6% rise in Egypt’s gas output over the same period. Egypt’s gas output rose by a further 19% to average 5.34bn cfd for 2017-18, implying a jump in propane output to over 687,000 t/y. The further leap in gas output to a record 6.6mn cfd for September has almost certainly boosted Eg...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Egypt LPG: Jekyll & Hyde
...ged up to 16,000 b/d for 2017-18. Egypt’s butane imports rose by 11% to 74,000 b/d for 2017-18, though Cairo will be hoping that efforts to expand the country’s piped natural gas network on the back of record output will make this a high-watermark. ...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Oman Eyes Crude, Condensate Revenue Boost As Refinery Undergoes Maintenance
...tober). Production of crude and condensate has averaged 969,000 b/d in the first nine months of 2017, down 3.4%, and bang in line with Oman’s obligations. Exports meanwhile have averaged 805,000 b/d, down a hefty 8.1% year-on-year. 1: OMAN OIL* OUTPUT & EXPORTS (‘000 B/D): EXPORT VOLUMES SINK IN 2017, BU...
Volume: 60Issue: 43Published at Fri, 27 Oct 2017 -
Newly Streamlined Adnoc Targets EOR Expertise For Offshore Fields
...er the first nine months of 2017 against last year. By contrast, Japan is taking more volumes from its number one supplier Saudi Arabia so far this year. India is the UAE’s second largest customer, and has increased its takings this year. Liftings of Emirati crude are up around 10% year-on-year an...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Aramco Targets Indian Refinery JV End-2018 In Major Investment Push
...to a market where it has this year lost its position as top crude supplier to Iraq. India is the world’s third largest oil importer, buying an average 4.26mn b/d for the first seven months of 2017. But whilst India’s overall imports are up 3% year-on-year, those from Saudi Arabia, at 728,000 b/d for Ja...
Volume: 60Issue: 41Published at Fri, 13 Oct 2017 -
Egypt’s Refiners Struggling To Keep Pace With Products Demand
...though gas output has risen to 4.35bn cfd this month, it was at an 11-year low of 3.89bn cfd as recently as May (MEES, 23 September). And Cairo announced a new tender on 24 October for the import of 96 LNG cargoes for delivery in 2017 and 2018, underlining that domestic output is set to remain below de...
Volume: 59Issue: 43Published at Fri, 28 Oct 2016 -
Sabic Shows Steely Resolve As Saudi Petchem Profits Fall In Flagging Market
...ginning in January, and by the global economic slowdown. “We predict that 2017 is going to be a quite challenging year for us,” said Mr Benyan. “We need to focus internally on how we can improve our efficiency. Despite the challenges, Sabic will continue in its growth policy. We will expand our ma...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
Liwa Plastics Delayed To 2020
...ogram. The company is also spending $2.1bn on expanding – from 116,000 b/d to 197,000 b/d – and upgrading its Sohar refinery. The schedule here has also slipped, from 2016 to Q1 2017 (MEES, 19 August), with the UK’s Petrofac and Korea’s Daelim the key contractors. Orpic is also building 290km of 93...
Volume: 59Issue: 41Published at Fri, 14 Oct 2016 -
More Delays, Cost Hike At Saudi Petro Rabigh JV
...The Petro Rabigh joint venture of state oil giant Saudi Aramco and Japan’s Sumitomo has acknowledged that construction of its Rabigh 2 expansion project will not be completed until the second quarter of 2017 with the anticipated total development cost now 10% higher than the previous fi...
Volume: 59Issue: 40Published at Fri, 07 Oct 2016 -
Cairo Struggles With Products Shortages
...vember, could be renewed, while negotiations are taking place with Kuwait to supply 500,000 barrels of gasoline and diesel a month to meet public fuel needs during the winter period in 2016 and 2017. Additional volumes will come not a moment too soon. After hitting a record high of 277,000 b/d in Ju...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Kuwait Signs $13bn Refinery Contracts, Pledges Continued Oil Investment
...w 336 Nghi Son, Vietnam (35.1%, 2017) 200 Indonesia (MOU only) 160 China (MOU on...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015