- Sort by:
- Score
- Published ▼
-
BP Start-Up Of 1Bn Cfd Khazzan Field Gives 20% Boost To Oman Gas
...oduction deal (see p7). Oman produced 7.08bcm of associated gas in 2016, which MEES calculates accounted for 18% of total output after subtracting imports from Qatar. But after eight months this is on track to slip to 6.86bcm in 2017, dragging down total gas output. Meanwhile, non-associated gas is up sl...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
BP Gets Gulf Gas Boost
...lf of 2017, implying 260mn cfd net for BP. Output from the three firms’ other key project, In Amenas is also running at multi-year high levels having finally recovered from a 2013 terrorist attack. However, here Sonatrach keeps all of the gas production (830mn cfd for H1 2017), leaving BP and Statoil to...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Algeria: Prices Up, Volumes Down, Projects Delayed
...ole. Whilst this is only $1.6/B higher than the $51.4/B MEES factored in to its previous analysis (MEES, 25 August), the change is enough to slash the country’s expected 2017 trade deficit from $11bn to $8.6bn – and this despite MEES trimming 1bcm from its 2017 gas export forecast (see table). Of co...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Qatar Boosts Revenue
...gust’s $51.9/B, September ought to prove profitable for Qatar. MEES estimates that Qatar hydrocarbon revenues are on track to come in at around $54bn in 2017. This would be a 15% increase on last year, although still less than half of 2013’s $120bn. If the recent oil price gains are sustained over the re...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Iraq Plots Post-War Refining Rebound
...crude oil has this year exceeded the combined 544,000 b/d nameplate capacity of operational federal refineries, reaching a peak of 591,000 b/d in April and averaging 553,000 b/d for January to July 2017, compared with 446,000 b/d for 2016 (see chart). This was achieved through a deal with the Ku...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Russia Extends Lead Over Saudi In China As Overall Imports Fall
...wn (see chart, p16). Total Chinese crude imports were 8.014mn b/d, the lowest figure this year, though still 5% up on the 2016 average of 7.61mn b/d. This magnitude of gains, as opposed to the 14% year-on-year growth implied by China’s 8.53mn b/d January-July 2017 imports, is much more in line wi...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Qatar Plans First Significant Solar Capacity
...y plank of this had been a January 2017 deal with Abu Dhabi state firm Masdar, a firm with much more renewables experience, to jointly develop “commercially viable renewable energy projects in the UAE, Qatar, and international markets.” QEWC’s overseas investment affiliate Nebras Power and state in...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Saudi: Opec Should Stick To Its Guns
...ojected at around 1.3mn b/d [for 2017: Mr Muhanna’s figures broadly tally with an average of the most recent forecasts from Opec and the IEA – MEES, 15 September]. When the demand is ahead of supply the market is on a strong footing.” Progress towards Opec’s stated goal of bringing OECD stocks down to fi...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
KRG’s Troubled Waters
...0 B/D) 2017* vs 2016* 2014 2015 Tawke 111.0 3....
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Assad Looks To Rebuild As Syria War Enters Final Act
...maged by IS rockets launched during the Palmyra offensive in early 2017. Small-scale production of 35mn cfd at Ebla resumed this month: Mr Ghanem optimistically claims this will ramp up to 75% of pre-war production, 66mn cfd, by 2018. Gas production is crucial to meeting Syria’s domestic power de...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Tamar Downtime Is Wake-Up Call for Israel
...neration fuel mix for 2017, with coal 37-38% and renewables the remaining 2-3%. In the absence of Tamar gas, Israel had to switch in diesel and fuel oil (see chart). In case of a longer outage it also has the option of importing LNG via a receiving buoy offshore the northern port city of Hadera. It is st...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Algeria’s Risky ‘Cash Creation’ Plan: From One Pocket To The Other
...ned banks – equating to 87% of the total liquidity. Then in July 2017, the rate was further lowered from 8% to 4%, generating a further AD347bn - of which state banks accounted for AD301bn. However, while this helped to create more liquidity in the banking system, adjusting the reserve re...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Saudi Oil Addiction Deepens Despite Ambitious Reform Drive
...st two years are on track for a third consecutive fall in 2017. This is because “non-oil” is dominated by related industries such as petrochemicals production, where prices have fallen along with oil and gas. With oil prices so far this year averaging around 16% more than over the course of 2016, ex...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Saudi Raises Bumper $12.5bn International Bond
...cently confirmed it had qualified 13 Saudi banks to participate in Sukuk issuance. Riyadh initially projected its 2017 budget deficit at $53bn. But the actual figure is likely to be lower: the actual deficit was $19.4bn for 1H 2017. MEES calculates that the deficit for the full year could fall to $40...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Jordan Eyes $1bn Eurobond
...nage. Amman is tapping the international debt market to refinance maturing debt and meet other fiscal obligations as stipulated in the borrowing limits set out in the 2017 budget (MEES, 5 May). In April it issued a 2026-maturity $500mn Eurobond which priced at 5.875%. In its previous Eurobond, in Oc...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Egypt: Economy Looking Up But Long Road Ahead
...vember with the IMF (MEES, 18 November 2016). Foreign direct investment (FDI) rose from $6.9bn in 2015-16 to $8.7bn in the 2016-17 financial year (to June 2017). Inflows in the first three months of 2017-18 put it on track to surpass $10bn, according to Investment Minister Sahar Nasr. This comes as Pr...
Volume: 60Issue: 39Published at Fri, 29 Sep 2017 -
Saudi Crude Exports At 3-Year Low: Oil Burn Peaks Amid Opec Curbs
...cord 1.02mn b/d for the year as a whole, up from MEES’ previous 991,000 b/d 2017 forecast (MEES, 18 August). Increased oil burn has directly hit the volume of crude available for export. Crude exports, at 6.693mn b/d in July, were down for the fourth straight month and at their lowest level since Au...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
Algeria Oil Output At 14-Year Low, Gas Exports Slump
...Algeria's oil output was just 1.551mn b/d in July, the lowest figure since 2003. Algeria’s crude output fell to just 1.065mn b/d in July 2017, the lowest since September 2003, whilst NGLs output, at 486,000 b/d, was at its lowest since December 2013, according to official figures su...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
US Growth Revised Down As Rig Count Falls
...rch 2015’s record of 5.67mn b/d this month, although August projections had it achieving this last month. This was due to downward revisions to 2017 output from the Eagle Ford shale formation of southern Texas which was hit by Hurricane Harvey late last month (though the downgrades are also to pr...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017 -
What Embargo? Qatar Products Exports Hit Two-Year High
...e lowest since 2009, and domestic demand of 230,000 b/d had more than doubled since 2010. Despite the earlier outages, exports ought to breach 500,000 b/d for 2017 for the first time since 2013. Crude oil exports also rose in July to a four-month high of 496,000 b/d. The upshot is that total Qa...
Volume: 60Issue: 38Published at Fri, 22 Sep 2017