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Libya Drilling: Schlumberger Boost
...is included work not only for Agoco but also for fellow NOC subsidiary Sirte Oil and Gas (MEES, 13 October 2017). It is unclear if all of the latest drilling is at Agoco fields. Prior to latest onshore drilling ramp-up, Libya’s only active rig was at Eni’s offshore Bahr Essalam gas-condensate fi...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
First Crude To Aramco Jv Refinery
...ar and will have the option to supply up to 70% of the plant’s crude feedstock (MEES, 3 March 2017). Aramco says that in the longer term the refinery will provide feedstock for an integrated 3.3mn t/y petrochemicals complex. ...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Dea-Wintershall Agree Merger
...oduction company, with activity in twelve countries across Europe, Latin America, North Africa and the Middle East,” DEA says. Wintershall’s approximately 45,000 b/d net Middle East output comes exclusively from Libya while DEA’s 230mn cfd net output comes from Egypt (MEES, 1 December 2017). Co...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Crude Official Selling Prices ($/B)
...*VS ICE BRENT FROM JULY 2017 PREVIOUSLY VS BWAVE....
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Kuwait Gets Jurassic Gas Boost, Eyes Further 2020 Gains
...a more-conciliatory parliament in 2013 helped unlock key projects and contracts for the three EPFs were awarded in 2016 (MEES, 28 July 2017). IMPORTS RISE DESPITE GAS GAINS Prior to the first EPF startup in January, Kuwaiti gas output was around 1.7bn cfd – overwhelmingly gas associated with oi...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Iraq: Soaring Domestic Oil Demand Will Test Next Government
...els that are in high demand, with consumption of fuel oil consistently running at record highs since December 2017. Consumption has averaged 291,000 b/d so far in 2018, against 200,000 b/d over the same period last year, as Iraq has turned to fuel oil over crude oil for power generation. Crude burn ha...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Abu Dhabi Plots $3bn Windfall From Cepsa IPO: What’s For Sale?
...r the 52.94% it did not already own, including French major Total’s then 48.83% stake. IPIC first bought into Cepsa in 1988. Fellow state energy-focussed investment firm Mubadala assumed the stake in January 2017 (MEES, 8 July 2016). In a 17 September document detailing the IPO plan Mubadala ch...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Saudi Oil Exports On Track For Record Year
...oducts exports are poised to top 2mn b/d for the first time this year, which would represent a massive 70% year-on-year increase on 2017’s record 1.44mn b/d. With crude exports relatively subdued, although still on course to bounce back above 7mn b/d, refined products are set to exceed 20% of total oil ex...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Egypt Sees End To Water Tension With Ethiopia: Is It In Denial?
...sastrous. A 2017 study from the Geological Society of America (GSA) estimates that during the GERD fill period, Nile flows could fall by 25%, reducing the electricity generated by Egypt’s own 2GW capacity Aswan Dam by 33%. The GSA sees Egypt facing “serious country-wide freshwater and energy shortage by 20...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Adnoc Keeps Squeezing The Bottoms
...to unleaded gasoline and polymer grade propylene. This plant is still offline after a fire at the RFCC in early 2017 and not expected back online until early 2019 (MEES, 7 July 2017). Adding pressure on Adnoc’s propylene supplies, the company’s Borouge joint venture recently signed an en...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Acwa Power: Solar Record-Setter, But Any Coal’s A Goal
...el oil (HFO) and gas. Even its 15 projects under construction include a coal-fired plant and one burning HFO. Acwa had equity in assets with a combined capacity to generate 22.6GW of electricity and desalinate 2.7mn m³/d of water as of the end of 2017, mainly in Saudi Arabia but also in Oman, UA...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Vision 2030: Is The Public Investment Fund’s Strategy Due An Overhaul?
...ers of banking services in the region.” At last October’s Future Investment Initiative forum, PIF announced that it was aiming to beef up its assets to $400bn by 2020 from its current $240bn (MEES, 27 October 2017). A year later there is little evidence of a major increase having occurred. With it...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Iran Offers Big Discounts To Retain Customers
...dn’t have to cut prices to such levels even during the previous tightening of sanctions from 2011-2016 (see chart 1). Iran’s five key Asian buyers took 1.66mn b/d for 2017, 68% of Iran’s 2.46mn b/d crude and condensate sales, highlighting their critical importance to the Iranian economy. In 2011, th...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Oman LNG: Record India Volumes
...ar. India remains a distant third among Oman’s LNG customers after South Korea and Japan. Korea took 2.83mn tons for the first eight months of 2018, down 4% on 2.96mn tons for Jan-Aug 2017. Japan took 1.95mn tons for January-July, up 10% year-on-year. Oman has in recent months received sharply di...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
China Takes VLCC Of Yemeni Crude
...,000 b/d from the Masila basin since restarting production in 2016 (MEES, 15 September 2017). Most is exported to China from the Ash Shihr terminal on Yemen’s coast. China received 32,000 b/d of Yemeni crude in 2017, but the cessation of Chinese import data in March and lack of Yemen export figures have ob...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Kuwait Tenders For 1.5gw Of Solar
...ready building Kuwait’s first utility-scale solar project, a 50MW plant at Al-Shegaya (MEES, 21 July 2017). ...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Aramco Putting The Customer First With Asia Crude Pricing Change
...July 2017, the ICE Brent settlement price replaced the BWAVE. All these changes were made with the intent of providing a more reliable, relevant, transparent and liquid crude marker that best serves the interests of Saudi Aramco and our customers. In some cases, as with the decision to replace WT...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Saudi Arabia July 2018 Oil Data (‘000 B/D): Products Exports Hit Record 2.084mn B/D, Crude Stocks Fall To Lowest Since 2009
...CHANGES EXPRESSED IN PERCENTAGE POINT TERMS WHERE ORIGINAL FIGURES ARE PERCENTAGES. *EXCLUDES FIELD LPG (650-700,000 B/D). **NAPHTHA REFINERY OUTPUT PREVIOUSLY INCLUDED IN ‘OTHER PRODUCTS (479,000 B/D FOR 2017). ^PRESUMES ALL FUEL OIL CONSUMPTION IS BURNT IN POWER PLANTS. SOURCE: JO...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Egypt Gas Output At Record High As Zohr Hits 2BN CFD
...of 8 September “Zohr is now producing 2bn cfd” with this achieved not only under nine months from project start-up (MEES, 15 December 2017) but a year ahead of schedule. Plateau volumes “in excess of 2.7bn cfd” are slated to be hit next year. MEES estimates that as a result Egypt Mediterranean ou...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Israel Reviews Upstream Rules: Too Little, Too Late?
...rael since 2013. And after last year’s flopped bid round where cash-strapped Greek firm Energean was the main ‘winner’ (MEES, 15 December 2017) – there is little sign of an uptick. Israel saw the discovery of 33tcf of gas between 2009 and 2012 with a total of 19 exploration wells drilled. But, with th...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018