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Opec Output Jumps Ahead Of Crunch JMMC Meeting
...location ‘Allocation’ from Jan17 1H 2018 vs1H 2017 1H 2017 2017 20...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Global Supply: Brazil Undershoots
...Brazil has been touted by the IEA and other analysts as likely to provide a key boost to this year’s non-Opec crude output. But with data in for the first seven months of 2018, the country’s output, at 2.58mn b/d, is actually down on the 2017 average of 2.62mn b/d (and 2.63mn b/d for January-Ju...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Libya: Exports Up But Loading Uncertainty Means More Goes Long-Haul
...ditional four 1mn barrel cargoes headed for China, it also saw the first ever Libyan cargo sail for Taiwan (Sharara crude from Zawiya port) and 1mn barrels from Zueitina headed for Malaysia. China rose to become Libya’s fifth largest crude customer for 2017 with 65,000 b/d (MEES, 6 April) – behind the Me...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Libya Oil Revenue: Up 80%
...Libya’s oil output and exports remain anything but stable. But output, at 920,000 b/d for the first seven months of 2017, was up 24% on the same period a year earlier whilst oil prices, at just shy of $70/B for Libya’s Es Sider crude, were up 40% over the same period. Added together this ha...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Adnoc’s Downstream Squeezing More Out Of ‘Bottom-Of-The Barrel’
...ed to make anodes for separating aluminium from bauxite ore, so the coker’s output will likely be mainly destined for UAE aluminium plants. The UAE is the world’s sixth largest aluminium producer with 2.6mn tons of 2017 output. Next to be completed will be the plant’s carbon black unit, which wi...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Mena Coal Plans Get Big Boost From Egyptian Project With Chinese Cash
...59 Handed over by Sepco 3 in July 2017 Awarded: 9.79 44.54 Safi Mo...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Japan Set To Follow South Korea and France In Halting Iran Oil Imports
...thout this, firms don’t want to risk damaging commercial links with the US. Japan imported 162,000 b/d from Iran in the first half of 2018, a figure broadly in line with the 170,000 b/d it imported over the course of 2017 (see chart). Q2 volumes of 130,000 b/d were down from 193,000 b/d the previous qu...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Sonatrach LPG Train Award
...-15mn m³/d (350-530mn cfd) of gas for processing (MEES, 15 September 2017). Tecnimont expects the contract to be formally signed this month, after which project completion should take 30 months....
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Mubadala: Russian Expansion
...e new makeup is Gazprom Neft 49%, Mubadala Petroleum 44%, RDIF 5%. Gazpromneft-Vostok operates 13 fields in the Tomsk and Omsk regions of Western Siberia. Output in 2017 was 1.6mn tons (approximately 33,000 b/d) and Gazprom Neft says crude is exported though the Eastern Siberia-Pacific Ocean pi...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Aramco: Korean Study, Rapid Progress
...ke 50% of the JV last year (MEES, 3 March 2017) and will have the option to supply up to 70% of the plant’s crude feedstock.tronas has the remaining 50%....
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Algeria Gas Hopes Dashed As Touat Start-Up Pushed Back To 2019
...Algerian gas output will see a second straight year of decline this year with the company’s key expansion project, 4.5bcm/y Touat led by private equity firm Neptune Energy pushed back to 2019. The country’s sales gas production fell marginally to 94.5bcm for 2017 despite the start-up of th...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Crude Official Selling Prices ($/B)
...*VS ICE BRENT FROM JULY 2017 PREVIOUSLY VS BWAVE....
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Kurdistan Oil Sector Outperforming Expectations in 2018
...With Iraqi Kurdistan set for parliamentary elections on 30 September, politicians can at least point to a modest rebound in crude output this year. But revenues remain well below 2017 levels. The first eight months of 2018 have seen a much-needed return of upstream activity in the KRG, he...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Aramco’s Zombie IPO Laid To Rest, But Sabic Deal Intrigues
...bic, it will allow Aramco to acquire an important asset that it can borrow against. SAUDI ARABIA LEADS IN 2017 AS GCC INTERNATIONAL BOND ISSUANCE SMASHED RECORD ($BN) *TO 20 APRIL. SOURCE: MEES. BONDS TO THE RESCUE OR JUST A BAND-AID? Indeed, with the IPO on hold, all signs po...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Turkey Mixes Business & Politics As Qatar LNG Surges
...re down 6.8% year-on-year in 1H 2018, though this year is still on track to be second only to 2017’s record volumes. Last year’s biggest winners were Russia and Iran, which saw volumes jump 20% to a record 9.25bcm (see table), but both are suffering in 2018. But Iranian volumes have slid since th...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Saudi Woos Pakistan’s New PM But Qatar To Remain Key LNG Supplier
...participate in the economic embargo imposed against Qatar since June 2017 (MEES, 9 June 2017). That Pakistan may now be prepared to tack towards Saudi Arabia’s Qatar policy was indicated by Pakistan’s newly-appointed Minister for Petroleum Ghulam Sarwar Khan (no relation to the PM) who this we...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Oman’s Duqm Development: Dustbowl Or ‘Dubai’?
...erambition. But after five years of mostly bluster, developments are finally picking up. Chinese consortium Oman Wanfang announced in April 2017 the construction of a $10.7bn industrial park – the Sino-Oman Industrial City (see map): preliminary work has begun. Duqm’s airport is also set to see the 17 Se...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Iran Eyes New Partner For Tabriz Refinery Upgrade
...zaj suggests the demise of an August 2017 heads of agreement with Korea’s SK Engineering & Construction for a $1.9bn upgrade of Tabriz (MEES, 11 August 2017). SK has made no announcement. But Tabriz appears to be the second Iranian refining project from which a Korean firm has withdrawn in the fa...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Iraq Readies Baiji Unit
...rect crude burn in power plants, it is replacing the crude with heavy fuel oil from refineries. In 1H 2018, Iraq burned 289,000 b/d of fuel oil – compared with 199,000 b/d in 1H 2017 – out of a total 334,000 b/d of oil burned (MEES, 24 August). Restarting Salahuddin-1 would boost Iraq’s operable cr...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Israel Refiners Pump At Record Levels
...erating at or above 100% capacity for over a year, Paz saw output dip in Q2 with the June completion of an off -gas recovery unit. The unit began operation in July, with Paz “now close to operating at full capacity,” the firm says in its Q2 report, released this week. In 2017 Israel consumed more ga...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018