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Jordan: Wind Gathers Pace In Bid To Diversify
...nstruction in 2017 with a view to first electricity generation in 2019. Start-up of the Elecnor plant takes Jordan’s installed generating capacity to 4.72GW, after the 99MW Hussein steam turbine plant was decommissioned in January. It is Jordan’s second wind farm following the JWPC consortium’s 117MW pr...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Oil Market Inches Towards Balance, With Or Without Deal
...imb until they begin to be worked off in 2017. And the IEA acknowledges that its Q2-Q4 2016 numbers for Opec output are “conservative,” factoring in only relatively modest gains for Iran as financial sanctions continue to stymie its marketing efforts. Libya could also surprise on the upside for 20...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
KRG: Prompt March Payments Boost IOC Outlook
...upon payment is due in October, while payments totaling $575mn are due in 2017 when the bonds mature. If regular payments from the KRG continue, GKP can expect to receive $13.6mn a month. It would need to save around $2.7mn of this in order to meet both the April and October payments while keeping $32...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
New Adnoc Supremo Commits To 3.5mn b/d Output Target Amid Leadership Shakeup
...pect to see a slow but upward improvement in the medium term. Overall we think that 2016 and 2017 will be the years during which markets will start to rebalance.” But this optimism is not universally shared, with a number of variables in play that could dampen or reverse price gains (see p11). NEW FA...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Mid-East LNG Demand‘A Driving Force’ In 2015
...lution. Whether this is realistic remains to be seen. Egypt hopes to call time on gas imports by 2020 following last year’s discovery of the 23 tcf Zohr offshore field – operator Eni plans first gas from late 2017, ramping up to 2.7bn cfd by 2019 (MEES, 25 March). But while this is substantially more th...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
OPEC Output Falls Ahead Of Meeting As UAE Outage Outweighs Iran Gains
...proaching balance is the director general of the Abu Dhabi National Oil Company (Adnoc) Sultan al-Jaber. He said this week that he expects prices to rise gradually and for the market to rebalance in 2016 and 2017 (see p2). However, there remain multiple variables that impact on this supply-demand dy...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Petroceltic: Worldview Or Bust
...rly 2019:” the 2012-approved development plan had 2017 (MEES, 13 August 2012); the firm subsequently insisted 2018 was feasible (MEES, 1 May 2015). In fact the project’s delays, so far, have been modest for Algeria. If Worldview is sensible it will seek to keep hold of Petroceltic’s project ma...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Saudi Crown Prince Plots $2,000bn Mega Wealth Fund
...uld likely happen in 2018, or even 2017, he says. The Aramco IPO and the transfer of its shares to the PIF will “technically make investments the source of Saudi government revenue not oil… within 20 years, we will be an economy or state that does not depend on oil,” he says Prince Muhammad, who al...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
Saudi: Key Gas Start-Ups Increase Oil Field Flexibility
...wec) Oil 0.16 2016 Shuqaiq (SEC) Oil 2.64 2017 PP13 (SEC) Gas 1.65 2017...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Egypt Advances Refinery Upgrades As It Looks To Curb Record Fuel Imports
...finery $mn Project KB/D 2016: Assiut 25 Vapor Recovery (LPG) 3.9 2017: Suez 36.5 Vapor Recovery (LP...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Qatar Starts Construction Of 2.5GW Power/Desalination Plant, Eyes Solar Venture
...da said the project would be phased: “The first phase will be completed by the second quarter of 2017, with capacity to produce 40mn gal/day [180,000 m3/d] of water. The project will reach full capacity in the third quarter of 2018.” CAPACITY PLAN QEWC managing director Fahd al-Muhannadi told re...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Oman Output Set To Keep Edging Up
...portedly slated for investment in the BP-operated (60%) Khazzan gas field (OOCEP 40%). Khazzan’s 1bn cfd capacity Phase One is due to deliver first gas in late 2017. BP and Oman reached a preliminary agreement in February to expand the project to 1.5bn cfd under a second phase, envisioned to come onstream in...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Eni Follows BP, Chevron, QP In Looking To Strike Big On Morocco’s ‘Atlantic Margin’
...ep-pocketed partner. Chariot CEO Larry Bottomley now says that “we anticipate [drilling] to occur in 2017…subject to the relevant approvals, well planning and securing a drill rig.” Eni makes no mention of specific drilling plans, merely talking of “the prospect of finding liquid hydrocarbons.” Ch...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Egypt Unveils Development Plan To Revive The Economy
...YPT’S 2016-2019 DEVELOPMENT PLAN: KEY OBJECTIVES • Raising GDP growth to 5-6% by end fiscal 2017-18 (June 2018) and to 6% thereafter. • Cut unemployment to 10-11% by 2017-18 and 9% by 2019-20. • Cut the budget deficit to 9-10% of GDP by 2017-18, and to 8-9% by 2019-20. • Cut pu...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Iran-Pakistan Trade Boost But Gas Line Still Far Off
...e risk of sanctions being re-imposed, “we are working on it. There is no serious problem and we are going ahead with the pipeline from Gwader to Nawabshah.” He estimated it could be completed by December 2017. One positive development for Iran is that Pakistan is to increase the amount of el...
Volume: 59Issue: 13Published at Fri, 01 Apr 2016 -
Eni Greenlights Egypt’s Zohr
...cision] only 6 months after discovery, a remarkable result, and we are well on track to start production by the end of 2017,” Eni CEO Claudio Descalzi said during the firm’s 18 March presentation of its “2016-19 Strategy.” The field, only discovered in August 2015, has rapidly become a key element of th...
Volume: 59Issue: 12Published at Fri, 25 Mar 2016 -
Kuwait Boosts Gas-Fired Power Capacity, Prepares Further LNG Imports
...Spain’s TSK to build the 50MW Al-Shegaya solar plant. This will be Kuwait’s first utility-scale solar project – although two 10MW projects are expected to be completed in 2016 – and is due online by December 2017 (MEES, 18 September 2015). LNG BOOST Kuwait’s gas-fired power plants will in...
Volume: 59Issue: 12Published at Fri, 25 Mar 2016 -
MEES Special Report: Jihadist Instability In North Africa And Beyond
...e development of upstream oil and gas potential. A series of new tight gas developments in the southwest of the country are set to begin coming onstream from 2017. All are operated by joint ventures between Sonatrach and overseas oil firms deliberately recruited for their expertise in developing di...
Volume: 59Issue: 12Published at Fri, 25 Mar 2016 -
Iran Boosting Exports Of Products As Well As Crude; Gasoline Exports To Follow?
...0mn (MEES, 6 November 2015). Iran hopes the plant will come fully onstream in the second half of 2017. 1: IRANIAN REFINERY OUTPUT (‘000 B/D)... ...% OF TOTAL 2: IRAN NET OIL PRODUCTS EXPORTS (‘000 B/D) 3: IRAN GASOLINE SUPPLY (‘000B/D)...
Volume: 59Issue: 12Published at Fri, 25 Mar 2016 -
Keystone Cops It From KRG Revenue Collapse
...ntinue as a going concern,” it says. The company faces a struggle to rustle up the cash for two $26mn payments to bond holders due in April and October. Along with bond maturities in 2017, the firm has “almost $600mn to settle in about a year from now.” Current cash reserves are $50.6mn. The need to...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016