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Gulf NOCs Target Cuts To Upstream Emission Intensity
...stream output (CO2e/boe) which they aim to reduce to 17kg CO2e/boe by 2025 from a 2017 baseline of 23kg. The CO2e measure includes emissions of methane – a far more potent greenhouse gas, especially over the short term – at a conversion factor of 1kg methane = 29.8kg of CO2e. Gulf NOCs fall into two br...
Volume: 67Issue: 43Published at Fri, 25 Oct 2024 -
Tunisia: 200mw Solar Plan
...lls for proposals in the past have met with threadbare success. The first such ‘call for projects’ in 2017 saw four projects totaling 22MW built, including the country’s only 2023 start-up – 10MW at Meknassy – whilst the three subsequent rounds (2018, 2019, 2020) have resulted in a princely 6MW of ca...
Volume: 67Issue: 43Published at Fri, 25 Oct 2024 -
Cyprus’ Cronos Gas Find: Eni & Total At Odds Over Development Plan
...2017,” the government source tells MEES. “Maybe Total is unhappy that Cronos gas would go via Eni-operated facilities, potentially to an Eni-operated LNG export plant at Damietta, where it would have zero control over the gas,” the source speculates. Chevron had no such qualms when it fi...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
IEA Points To Lower Forever Oil Markets
...ve fallen to their lowest levels since at least 2017, it adds that “global refined product stocks have swelled to three-year highs, pressuring margins across key refining hubs.” IEA SUPPLY & DEMAND FORECASTS, OCTOBER 2024 (MN B/D) OPEC SUPPLY & DEMAND FORECASTS, OC...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
Egypt: Record Gas Deficit With Output At 7-Year Low
...*August saw Egypt post a new gas deficit (output minus consumption) record of 1.85bn cfd, surpassing the previous month’s record of 1.74bn cfd (MEES, 20 September). Gas output continues to slump, dropping to 4.58bn cfd, the lowest since March 2017 and down over 1bn cfd year on year according to...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
Iran Prepares For Israel Retaliation
...ound 130,000 b/d of condensate from Assaluyeh and Kangan further south in Bushehr province. Since their re-imposition in 2018, US sanctions have upended Iran’s customer base and sunk its oil exports from more than 2.5mn b/d in 2017 to less than 1mn b/d in 2019 and 2020, before steadily increasing to...
Volume: 67Issue: 41Published at Fri, 11 Oct 2024 -
Algeria Renewables: Set For Take-Off At Last?
...llowing six years, the majority off-grid rooftop solar, a figure which was smaller than the shrinking of Algeria’s hydropower capacity. As a result, the end-2023 renewables figure of 601MW was below 2017 levels (see chart). But the country has major renewables ambitions, targeting 15GW capacity by 20...
Volume: 67Issue: 41Published at Fri, 11 Oct 2024 -
Oman’s Divestments Fund Economic Diversification, Lift Credit Rating
...tch below investment grade. Moody’s last changed its outlook to positive on 29 August while keeping its rating at Ba1, while Fitch has yet to update its rating since it affirmed BB+ on 24 May. S&P was the first of the agencies to junk Oman back in 2017 (MEES, 24 November 2017), with Fitch and Moody’s on...
Volume: 67Issue: 41Published at Fri, 11 Oct 2024 -
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