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BP, Eni Race For First Gas From Egypt Acreage
...pects first WND output in early 2017 as opposed to the original mid-2017 estimate. Initial output will be 450mn cfd rising to 600mn cfd at end-2017 and 1.2bn cfd plateau output by end-2019, he says. BP has spent the last 12 months optimizing its development plan, CEO Bob Dudley told investors during th...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
IEA Chief Warns Against Aggressive Capex Cuts
...stream spending would be unprecedented. BP CAPEX CUTS Oil and gas majors have reported further cuts. BP, reporting its Q3 results on 26 October, said it has reduced its full-year capex for the third time this year. BP expects annual capital spending to remain at $17-19bn until 2017, well down on it...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
Qatar Out To Woo LNG Customers In Face Of Increased Competition
...cording to analysts from Energy Aspects. The London-based group expects Japanese LNG imports to fall by 2.7mn tons in 2015, mostly due to milder weather, before falling by another 1.1mn tons in 2016 and by 1.9mn tons in 2017. INDIA… POLAND… Meanwhile, India has been taking less contracted LNG from Qa...
Volume: 58Issue: 44Published at Fri, 30 Oct 2015 -
European Oil Firms Stand Up And Get Counted In Tehran
...ggests the domestic economic activity could “accelerate markedly” following sanctions relief, the IMF says, with the recovery in oil production and exports providing the main boost. The IMF sees real GDP growth hitting 5.5% in 2016-17 and 2017-18, before slowing to 3.5-4% in the years that follow. “We...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Egypt: Zohr Mega-Find Spurs Regional Gas Hub Ambitions
...ill three appraisal wells by the end of 2016, which, presuming they are successful, will then become production wells enabling first phase output of 700mn cfd from late 2017 or early 2018. Output would then ramp up to 2.7bn cfd by the second phase, with an expected life-span of 20 years. During th...
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
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 -
Aramco Vows $100Bn Spend To Phase Out Crude-Burn, Targets Self-Sufficiency
...p (Rawec) Oil 0.16 2016 Shuqaiq (SEC) Oil 2.64 2017 PP13 (SEC) Gas 1....
Volume: 58Issue: 43Published at Fri, 23 Oct 2015 -
Sudan Looks To Boost Output
...th the secession of South Sudan in mid-2011. This translated into a massive economic blow that the government in Khartoum is still struggling to come to terms with. Sudan now targets production of 150,000 b/d by 2017, Sudapet announced earlier this year, around 30,000 b/d up on current levels. Ou...
Volume: 58Issue: 42Published at Fri, 16 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 -
Qatar Power Demand Tops 7GW; QEWC Advances 2.5GW Plant
...ay ahead of the demand growth curve in the medium term by building two new power and desalination plants: a 2.52GW, 618,000 m3/day plant is due online at Umm Al Haul in 2017, and a 2GW, 655,000 m3/day plant is proposed at Ras Laffan, for potential start-up in 2018. QEWC has informed the Qatar Ex...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Global Supply Overhang May Last Till 2017; OPEC Output Largely To Blame
...OPEC Global Supply Overhang May Last Till 2017; OPEC Output Largely To Blame A weakening global economy and the prospect of additional Iranian barrels mean that global oil demand may not catch up with supply until the year after next. Low oil prices too are unlikely to go away anytime so...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Iraq Progresses With Giant Gas-Fired Plant, But Where’s The Fuel?
...heduled for start-up in August 2017. However, this schedule appears overly optimistic, given the dire security problems in Iraq and the government’s already overstretched budgets for its ambitious oil, gas and power projects. Fuel availability is also a major issue for the Bismaya project as things st...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Egypt: Desperately Seeking Finance
...serves. These reserves, which stood at some $36bn before the 2011 revolution, have fallen to $16.3bn at the end of September, down $1.8bn from the previous month. Egypt needs $10bn for both 2016 and 2017 to meet its “financing needs”, according to IMF regional director Masood Ahmed. He says that th...
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Riyadh Eyes $4bn Local Currency Bonds
...rned to borrowing from the domestic market by issuing local currency bonds, which are expected to raise $27bn by year-end. But now there is speculation in Riyadh that in 2016 and 2017 the government will turn to the international market, especially if oil prices remain depressed for an extended period....
Volume: 58Issue: 42Published at Fri, 16 Oct 2015 -
Climate Change Takes Centre Stage Ahead Of COP 21
...e end of September to start a national cap-and-trade system in 2017. ...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
UAE To Spend $35bn On Reducing Gas Imports For Powergen
...an $50/B, Mr Mazru’i maintains that the UAE’s plan to raise oil output capacity to 3.5mn b/d by 2017, compared with 2.78mn b/d for 2014, will not be delayed by the fall in crude prices....
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Aramco Advances Downstream Plans With Petro Rabigh, Sadara Progress
...me in next year and the chemicals plants – polyurethanes intermediates and polyurethanes products – in 2016 and into 2017.” Sadara’s cracker will be the first in the Middle East to process naphtha – the project has feedstock agreements in place for up to 53,000 b/d of naphtha and 85mn cfd of et...
Volume: 58Issue: 41Published at Fri, 09 Oct 2015 -
Kuwait Nears Sale Of European Refinery, Targets Asian Downstream
...er 900,000 b/d was refined at home. While the sale of the Rotterdam refinery would reduce its sales into Europe, KPI is a partner in the Nhgi Son refinery in Vietnam, due onstream in 2017 and requiring 200,000 b/d of crude. The company is also pursuing refining projects in Indonesia and China. AS...
Volume: 58Issue: 40Published at Fri, 02 Oct 2015 -
Saudi Electricity Demand To Rise 32% By 2020, Says ECRA
...wec Exp (Rawec) Oil 0.16 2016 Shuqaiq (SEC) Oil 2.64 2017 PP13 (SEC) Gas 1....
Volume: 58Issue: 40Published at Fri, 02 Oct 2015