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Abu Dhabi Awards Contract For Offshore Gas Boost
...tar – despite the ongoing embargo – to meet demand. 2017 was a positive year for the UAE’s gas sector, with production edging up above 60bcm for the first time according to BP’s Statistical Review of World Energy. Meanwhile consumption had a rare annual dip from 72.5bcm to 72.2bcm. But this still en...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Abu Dhabi Field Startup Paves Way For New Crude Grade Launch
...om Abu Dhabi’s onshore fields. Reuters reported this week that marketing of the new grade is to begin imminently, with exports slated to begin in November. The new grade had originally been slated for Q1 launch (MEES, 17 November 2017). The UAE exported 2.38mn b/d in 2017, of which 98.6% went Ea...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Iraq’s 200,000 b/d Halfaya Boost: Is There An Outlet?
...has missed its 2017 target. Production is then to be kept at this level for 16 years. Despite concerns over delayed payments in recent years – that have now been allayed – the field partners greenlit Phase-3 development in early 2017 (MEES, 28 April 2017). Halfaya was already the largest pr...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Qayara Production Resumes
...nsidering quitting Qayara and the nearby Najma field even before being forced out by IS in early 2014. Nevertheless, Oil Minister Jabbar al-Luaibi invited Sonangol to resume operations at Qayara and Najma in January 2017 and the firm officially agreed to return in February (MEES, 9 February). The mi...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Chinese Takeover For Cash-Strapped Kuwait Energy
...l of the firm’s 62,300 boe/d net production in 2017 (primarily gas). The firm also closed its $192mn purchase of OMV’s Pakistan assets in June this year adding a further 42mn cfd and 550 b/d to its net production. KEC’s portfolio consists of 10 assets. Four producing oil blocks in Egypt account fo...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
LNG Prices At Four-Year High Amid Soaring Demand
...Soaring demand for LNG, up a collective 14.5% from 2017’s record levels for the top five global buyers, has sent prices to the highest level since early 2015. With key new liquefaction plants delayed and booming Chinese demand showing no chance of slowing, are further rises in store? The wo...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Iran Oil Exports Go Dark As Sanctions Loom
...VE SINCE DROPPED BELOW 2MN B/D* (‘000 B/D) *AUGUST FIGURES ARE MEES ESTIMATES EXCEPT FOR JAPAN & SOUTH KOREA. SOURCE: IMPORT STATS, MEES. EUROPE STRUGGLING TO REPAIR IRAN DEAL After averaging 570,000 b/d over the course of 2017, EU imports from Iran have now fallen be...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Egypt Starts Up Gasoline Unit As Part Of Plan To Slash Fuel Imports
...esel, which though they have fallen since peaking in 2016, remain at stubbornly high levels (net imports of 123,000 b/d for diesel and 55,000 b/d for gasoline in Q2 2017 – see chart). The six projects, including the naphtha reformer, will when operational have combined capacity to produce 2....
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Iraq Aims To End Blackouts As Protests Rage On
...emens is upgrading and expanding a number of existing power plants, while GE is providing turbines and generators for several combined cycle gas turbine (CCGT) plants which are under development (MEES, 8 December 2017). MOUNTING PRESSURE Iraq’s powergen woes are a key grievances ci...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Qatar Enlarges LNG Expansion, Drilling Expected Imminently
...is putting its money where its mouth is, this week upwardly-revising its North Field gas expansion plans for the second time since they were initially launched in April 2017 (MEES, 3 April 2017). A fourth 7.8mn t/y LNG train now forms a definitive part of the expansion plans, taking Qatar’s total en...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
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