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EOG To Bring ‘Unconventional’ Know-How To Oman’s Upstream
...teral well. It says the Rhuddanian sand “is hydrocarbon bearing” in two of Block 36’s previously drilled wells – Al Hashman-1 and Burkanah-1. The Canadian firm flagged up further cause for optimism based on an analogous “discovery in a nearby block made in late 2017 and currently under development.” Th...
Volume: 63Issue: 39Published at Fri, 25 Sep 2020 -
UAE Nuke Plant Hits 50% Load
...it 2.” Barakah’s four units were intended to start up during 2017-20, but a fake safety certificates scandal in Korea halted Kepco’s work on the first plant to deploy the reactor used at Barakah, delaying operator training and thus operating license awards by three years. With nuclear state regulator FA...
Volume: 63Issue: 39Published at Fri, 25 Sep 2020 -
OPEC At 60: Much Achieved, More Still To Come
...not an exhaustive list, but underscores some of what has been accomplished through cooperation over the decades. The most recent demonstration has been through the Declaration of Cooperation (DoC) that helped restore balance, stability and confidence to the oil market in 2017-19, following the do...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Adnoc $1bn Sell-Off
...cember 2017 with a 10% flotation (MEES, 16 February 2018). Following this week’s placement, 20% of Adnoc Distribution is now listed on the Abu Dhabi stock exchange. Adnoc retains 80%. Adnoc CEO Sultan al-Jaber says the firm’s fuel sales subsidiary “has delivered solid business results and de...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
EOG Enters Omani Upstream
...Oman secured a notable new player in its upstream sector this week, with US firm EOG Resources signing an Exploration and Production Sharing Agreement (EPSA) for Block 36. EOG joins Canada’s Apex, which has been the sole player at the block since Norway’s DNO exited in 2017 after drilling a du...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Taqa Places Moroccan Bond
...al-fired power plant, with combined capacity of 1.356GW, for 17 years from 2017 to 2044 (MEES, 31 January). Taqa says bond placement provides “an opportunity to further optimize its capital structure” and that the PPA extension is “enhancing value by extending the company’s debt repayment profile.” Ta...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Morocco Renewables Plans Get Wind In Their Sails
...e blades for the turbines from its Tangier factory built in 2017. Siemens Gamesa has so far installed 856MW worth of wind capacity across eight separate projects in Morocco. It is also currently in the final stages of completing the MD2.5bn ($260mn), 180MW Midelt wind farm, which forms the first st...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Saudi Arabia: Oil Demand Up, Oil Exports Up
...ude burn figure was the highest since September 2017, when the kingdom burned 660,000 b/d of crude. As well as the more pronounced seasonality, more crude was also likely required to replace associated gas, production of which has fallen alongside crude oil. Meanwhile domestic consumption of fuel oi...
Volume: 63Issue: 38Published at Fri, 18 Sep 2020 -
Aramco Joins IOCs In Green Research Drive
...eir aggregated upstream operations from a 2017 baseline of 23 kg CO₂e/boe to 20-21 kg CO₂e/boe by 2025. Aramco’s carbon intensity is already just 10.4 kg CO₂e/boe. Given the current industry trajectory, it is not difficult to envision a scenario a few years from now whereby producers with the lo...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Iraq Plans Qayara Refinery Expansion
...mple topping plant at Qayara (MEES, 2 November 2018), which was rehabilitated in 2017 and suffered a small fire at one of its storage tanks last week. The lack of a capable refinery means volumes are trucked for export from Basra’s Khor al-Zubair terminal. Qayara’s poor quality means it is sold at...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Qatar Trade Patterns Three Years Into The Embargo
...plomatic relations with Qatar on 5 June 2017 and imposed an economic embargo that remains in place to this day. Qatar was forced to reshape its trade links in order to withstand the embargo (MEES, 9 June 2017) and three years later trade patterns have changed considerably. The situation has normalized to...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Conoco Enters Morocco
...stomary 25%) at the massive 10,000km² Tanfit exploration permit. Shell previously held the acreage as a reconnaissance permit (Issouka), converting to a full exploration permit at the end of 2017 whilst bringing in Repsol which previously had neighboring reconnaissance acreage. Moving to Morocco’s of...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Saudi Eyes Development Of Remote Northwest
...’ad al-Shamal industrial complex, which is centered around phosphate mining. To the southwest of Turaif is the 75mn cfd Midyan conventional gas processing plant, which was commissioned in 2017. Midyan gas was developed to supply gas to power generation facilities further down the coast at Du...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Indian Firms Eye Israel Exit
...A consortium of Indian firms led by state giant ONGC Videsh is in the process of relinquishing the one exploration block it holds offshore Israel. Block 32 was awarded in late 2017, following Israel’s first offshore bid round, launched in 2016 (MEES, 24 November 2017). In its 2019-20 annual re...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Noble To Keep Tamar Veto Rights
...th 25% of Tamar and 39.66% of Leviathan, has been accused of favoring the latter in gas sales (MEES, 24 April), effectively stymying any attempt by Tamar’s minority partners to compete with Leviathan on price. Tamar gas sales slumped from a steady 1bn cfd for 2017-19 to a seven year low of 543mn cf...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Egypt: Key Shell Offshore Gas Project Faces Uncertainty
...condensate during the 2019-20 financial year to June, a far cry from the 1.3bn cfd it produced in 2013. Years of under-investment and over-drilling saw output collapse to around 200mn cfd in 2018. Phase 9b was finally sanctioned in 2017 although it was only 12 months ago that the phase’s nine we...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
Egypt Oil Targets Recede Into Distance
...clared force majeure on the plant’s ongoing 60,000 b/d expansion (MEES, 24 July). And the country’s other key ongoing expansion, a new 48,900 b/d hydrocracker and 14,900 b/d naphtha upgrader at the 90,000 b/d Asorc refinery in Assiut, southern Egypt (MEES, 15 September 2017), has the same main co...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
US Crude Output: The Only Way Is Up?
...*Latest official US crude output figures for June show output rebounding by 420,000 b/d to 10.436mn b/d from May’s 10.016mn b/d. The May figure was in turn the lowest since December 2017 and a whopping 2.84mn b/d down from last November’s peak of 12.860mn b/d. Indeed the 2.72mn b/d collapse be...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
Israel Sees Record Crude Stockbuild
...e average 2019 figure. Q2 saw quarterly record of 339,000 b/d. *Even allowing for crude re-exports, which hit 92,000 b/d in June, the highest since February 2017, but averaged a far more modest 22,200 b/d for 1H 2020 as a whole, Israel’s net crude imports of 294,800 b/d for Q2 are still over 80...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
EBRD Ups Egypt Renewables Funding For Kom Ombo Solar
...yptian court. Only after the ministry accepted that disputes could be settled internationally did EBRD and the World Bank’s International Finance Corporation (IFC) kick-start Benban development by pledging $1.6bn combined for 27 projects (MEES, 3 November 2017). EBRD is a key backer of Egypt, le...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020