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Saudi Energy Minister Makes Gas Export Pledge
...e task to transition towards becoming a gas exporter is no easy one. Indeed, prior to the June 2017 Qatar embargo, Saudi Arabia had been in talks with its gas rich neighbor to begin imports (MEES, 8 December 2017). Sales gas output was a record 8.9bn cfd in 2018, from raw gas output of around 12...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Shell Egypt: Mixed Signals
...ssible sale of its Egypt portfolio. WDDM: DEEP SLUMP, MODEST REBOUND WDDM output bottomed out at 151mn cfd in 2017 following years of under-investment, increasing to 223mn cfd in 2018, although still a far cry from the roughly 800mn cfd it was producing at the start of last decade. The fields ar...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
US Surges Past Saudi As World’s Top Oil Exporter
...reducing demand: down 10% from its 2017 peak to average 550,000 b/d for 2019. Fuel oil dynamics on the other hand have been trending in the opposite direction, and the kingdom became a net importer of the fuel in 2019 for the first time since Jodi stats began in 2002. After recording net-ex...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Egypt’s Asorc Awards Assiut Hydrocracker
...kely optimistic given the preliminary nature of the latest contact. Asorc is one of a number of Egyptian refiners planning to improve Egypt’s refining sector. After processing an average 76,300 b/d of crude in financial year 2017-18, Asorc has announced plans for 4.1mn t/y (82,300 b/d) throughput in...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Kuwait LNG Imports Rise In 2019
...18, this would still fall shy of 2017’s record 3.5mn tons. Nearly 60% of Kuwait’s power capacity comprises from gas-fired plants, and upgrades here in recent years have enabled more efficient generation. As such Kuwait generated record amounts of electricity in 2019 (MEES, 14 February), despite ga...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Aramco Trading Signs Kuwait Crude Deal
...Saudi Aramco’s trading arm, Aramco Trading (ATC) is rapidly stepping up its activities. Overall liquids traded in 2017 totaled just 1.40mn b/d, jumped to 2.17mn b/d in 2018 and 4.5mn b/d in 1Q 2019. The firm aims to reach 6mn b/d by the end of this year (MEES, 19 July 2019). It appears to ha...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Egyptian Firms Win Nuclear Work
...ich Egypt will begin repaying the loan (MEES, 15 December 2017). ...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Algeria’s 3.5BCM/Y Ain Tsila ‘Ahead Of Schedule’
...in line with the September 2022 timeframe outlined when Petrofac was last March awarded the key $1bn EPC contract (MEES, 15 March 2019); given Algeria’s record of chronic delays sticking to this latest target no doubt feels like a victory. The project had originally been slated for 2017 start-up (ME...
Volume: 63Issue: 08Published at Fri, 21 Feb 2020 -
Stars Align As Exxon Hikes Egypt Commitment
...epwater discoveries” in 2019 – and the only one outside Guyana. The Star Block covers an area that up to 2017 belonged to UK major BP, through its North Tennin block and Italian firm Eni through its Karawan concession (MEES, 24 March 2017). Prior to this the acreage was part of Shell’s giant Nemed Bl...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Algeria Presents Ambitious 2020 Energy Action Plan
...tober 2017). Instead, Algeria would be better served by concentrating on getting its existing conventional oil and gas projects off the ground. On the refining front, the action plan calls for an increase in refining capacity to 35mn t/y by 2024 and boosting products storage capacity from 12 to 30 da...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Total: Oxy Algeria Talks
...rchasing the stakes, France’s ‘national champion’ would become Algeria’s top foreign producer – a potentially testing prospect for Algeria, which gained its independence from France following a bloody civil war in 1962. Total already has 12.25% of the blocks in question (404a and 208) from its 2017 pu...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Dana Eyes Egypt Cash For Bond Repayment
...tions, but these are all in early stages,” the firm says, adding that its end-2019 cash reserves of $425mn are in excess of the $397mn owed. Dana was engaged in a protracted legal dispute with its bondholders over its previous $700mn Sukuk in 2017, though its creditors ultimately accepted the re...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Pressure Mounts For Deeper Cuts As IEA, Opec Warn Of Demand Concerns
...UEEZE The last few years have been tough for Opec, which has slashed production in a bid to rebalance the market. Production cuts entered effect in January 2017 and are looking increasingly likely to be extended until the end of 2020. Add in huge sanctions-related output falls in Venezuela and Iran – no...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Global LNG: Asian Demand In The Balance As Prices Fall To Record Low
...ES 2: JAPAN LNG IMPORTS - TOP 10 SUPPLIERS (MN T): AUSTRALIA & USA UP, EVERYONE ELSE DOWN AS OVERALL VOLUMES FALL TO LOWEST SINCE 2010 SOURCE: JAPAN CUSTOMS, MEES. 3: WORLD’S TOP LNG IMPORTER (MN T): CHINA OVERTOOK KOREA FOR #2 SPOT IN 2017. IT IS NOW CLOSING IN ON LONG UN...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
GCC Petchems Producers Push Recyclable Plastics
...edstock from recycled PET bottles. The company aims to increase production, currently at Schopkau in Germany, to industrial scale. PLASTICS END-USE BY RESIN (2017, MN TONS) SOURCE: IEA ‘FUTURE OF PETROCHEMICALS’, OCT 2018. GLOBAL OIL* USE IN PETCHEMS SET TO RISE-IEA PROJECTIONS^ (MN...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Mena Nuclear Programs Advance Slowly In Shadow Of Geopolitics
...d US firm Westinghouse. Kacare has said it is seeking a “standard plant design” ahead of preliminary engineering (MEES, 1 December 2017). Riyadh’s two-reactor plan is a massive reduction of Kacare’s original 2013 vision of 16 nuclear plants with combined capacity of 18GW by 2032. Kacare now also pl...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
Qatar 2019 Powergen Record
...evious annual record of 43.9TWh in 2017. An all-time high of 5.65TWh was recorded in August, while December was just the latest in a long series of monthly records (see charts). Rising energy consumption is far from unusual in the GCC, but the scale of the annual increase in Qatar is remarkable. That sa...
Volume: 63Issue: 07Published at Fri, 14 Feb 2020 -
UAE Gets Major Gas Boost With Jebel Ali Discovery
...ll as supplies from Adnoc’s operations in Abu Dhabi, it is contracted to take 730mn cfd through the Dolphin pipeline from Qatar and imports LNG through a 960mn cfd (7.2mn t/y) FSRU. Dubai imported just 770,000 tons (100mn cfd) of LNG in 2018, down sharply from 2.47mn tons in 2017. Dubai’s limited of...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020 -
KBR Bags Key Adnoc Contract
...Dubai (see p2). Eni says it is targeting first gas from the Dalma portion of the project in 2022, with the larger Hail & Ghasha project starting up in 2024. KBR has previously worked at the assets. In 2017 it was awarded a PMC contract for FEED work at the Dalma and Detailed Design and Su...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020 -
Opec Production Falls Sharply, More Cuts On The Way?
...blicly debate cutting deeper still. Given that the Opec+ alliance has been enforcing cuts almost continuously since January 2017, dividing up deeper cuts will be no easy task. But as oil prices have slumped amid concerns over dramatic falls in China’s demand, deeper cuts look increasingly ne...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020