- Sort by:
- Score
- Published ▼
-
Adnoc Gas Poised For $50bn Valuation
...sted back in 2017 (MEES, 16 February 2018). Assuming that Adnoc achieves the high end of its valuation, this will be the second IPO carried out by the group to raise $2bn in less than a year. In May, the flotation of a 10% stake in the Borouge petrochemicals firm raised $2bn, becoming the largest IPO in...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
QatarEnergy To Take Over LNG Marketing Role
...e in one place. And the savings are huge. Two billion riyals operating costs saved annually” (MEES, 8 December 2017). The post-RasGas system had grown somewhat less unified of late, with QatarEnergy establishing its own LNG trading team. The new entity was announced in November 2020 with a ma...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Cairo Launches $10bn Privatization Drive In Bid To Plug Financing Hole
...ile Egypt agreed to hand over the two islands in 2017 in a deeply unpopular move (MEES, 4 August 2017), it has yet to finalize the deal. EGYPTIAN STATE-OWNED ENTITIES SLATED FOR 2023 PRIVATIZATION *NREA (NEW AND RENEWABLE ENERGY AUTHORITY). **SCA (SUEZ CANAL AUTHORITY). ^CBE (CENTRAL BA...
Volume: 66Issue: 08Published at Fri, 24 Feb 2023 -
Egypt’s Cheiron: FID For 150mn Cfd West El Burullus
...e ‘East Alexandria’ block which was put on offer last month in a bid round launched by state gas firm Egas (MEES, 6 January). Cheiron purchased West El Burullus from Engie in 2017 (MEES, 19 May 2017), with the French firm the previous year having taken FID on the stand-alone development of the WE...
Volume: 66Issue: 06Published at Fri, 10 Feb 2023 -
OMV’s Upstream Focus Drifts East
...only began producing there in the second half of 2018 when the Sarb & Umm Lulu concession began production. But the firm’s links to the UAE are deep and go back much further than this. Abu Dhabi state investor Mubadala took compatriot’s IPIC 24.9% stake in OMV after the two funds merged in 2017 – IP...
Volume: 66Issue: 06Published at Fri, 10 Feb 2023 -
Kuwait’s KPC Suffers Steep Budget Cuts
...e third GCC member of Opec is on an altogether different path. Kuwait’s production capacity has been shrinking in recent years. State firm KOC, which is responsible for the bulk of Kuwait’s upstream operations, saw capacity decline from 3.15mn b/d for 2017/18 to 2.63mn b/d in 2020/21 (financial ye...
Volume: 66Issue: 06Published at Fri, 10 Feb 2023 -
Kuwait Plans ‘Extraordinary’ $87bn Budget For 2023-24
...6.83bn ($22.5bn). Still, absent a huge oil price shock, Kuwait still looks set to generate a sizable deficit next year. Financing the deficit will remain a challenge for Kuwait, which has been unable to raise debt since 2017 as parliament has repeatedly blocked a new debt law. TAPPING STATE EN...
Volume: 66Issue: 06Published at Fri, 10 Feb 2023 -
KRG’s Oil Sector Hangs By A Thread As Iraq-Turkey Arbitration Nears Closure
...,000 b/d through the link. PIPELINE TO THE WORLD The stretch of pipeline in Kurdistan was built and operated by domestic firm KAR and had an initial capacity of 300,000 b/d. This was expanded to 700,000 b/d and then in June 2017 Russian state-firm Rosneft took a 60% stake and invested in ex...
Volume: 66Issue: 05Published at Fri, 03 Feb 2023 -
Iraq Eyes Japanese Replacement For Inpex Stake
...ch as JX Nippon are unlikely to be willing to replace Inpex given the risky operational environment. Located in Dhi Qar province and discovered by Lukoil in 2017, Eridu is one of Iraq’s largest discoveries in recent years....
Volume: 66Issue: 05Published at Fri, 03 Feb 2023 -
Cyprus Gas Ambitions: From Dreams To Reality In 2023?
...e border. And with Eni either operating or partnering TotalEnergies on the key blocks on the Cypriot side of the border, it was well placed to look for ‘more Zohr’ in Cyprus. Though the first such well, July 2017’s Onesiphoros on Block 11 (Total 50%op, Eni 50%), only discovered sub-commercial vo...
Volume: 66Issue: 04Published at Fri, 27 Jan 2023 -
Imminent Russian Embargo Set To Boost Middle East-Europe Oil Flows
...ve-year average. However, middle distillate inventories only reached 240.2mn barrels in November, 31.9mn barrels below the 2017-2021 average.” Preliminary Euroilstock data shows a modest 800,000-barrel December rise, which would have left middle distillate inventories still well below average le...
Volume: 66Issue: 04Published at Fri, 27 Jan 2023 -
Kuwaiti Government Resigns. Again
...quired to ease the government’s reliance on direct oil revenues by tapping into its dollar reserves has been stuck since October 2017. With government ministers objecting to the debt relief bill, and MPs seeking to “grill” two cabinet ministers, the cabinet opted to resign. Prime Minister Sheikh Ah...
Volume: 66Issue: 04Published at Fri, 27 Jan 2023 -
Power Generation Set To Drive Middle East Oil Use Gains
...dustrial activity typically rises with economic activity. Consumption averaged 572,000 b/d for the first 11 months of 2022, up 70,000 b/d year-on-year. This is the highest figure since 2017, when the government implemented subsidy reforms to curb consumption and effectively pushed it out from power pl...
Volume: 66Issue: 04Published at Fri, 27 Jan 2023 -
Oman: Block 60 Oil Field Inauguration
...0,000 boe/d, and provides a welcome boost to Oman’s overall production capacity. But with renewed Opec+ production cuts in place until the end of the year, Oman will be unable to fully tap into this additional capacity (see p3). Block 60 was first discovered in 2017, with the first crude oil pr...
Volume: 66Issue: 04Published at Fri, 27 Jan 2023 -
Oman Set For New Gas Highs With Block 10 Start-Up
...CORD GAS OUTPUT Shell and TotalEnergies have greatly increased their presence in Oman’s exploration acreage in recent years following BP’s successful development of Block 61’s 1.5bn cfd tight gas reserves. Block 61’s Khazzan development came online in 2017 and revitalized Oman’s gas se...
Volume: 66Issue: 03Published at Fri, 20 Jan 2023 -
Oman’s Blocks 3 & 4 Suffer Output Fall For 2022
...REAM As it stands, all of Tethys’ production comes from Blocks 3 & 4, and even before last year’s problems the firm was keen to diversify. It snapped up three additional blocks between 2017 and 2020 and is optimistic about beginning commercial operations at one in the near future. After di...
Volume: 66Issue: 03Published at Fri, 20 Jan 2023 -
South Korea Crude Imports: Saudi Up 23% To Record 995,000 B/D For 2023
...*South Korea, the world’s number four crude importer behind China, the US and India, saw volumes rise 7% to 2.81mn b/d for 2022, a three year high but 220,000 b/d shy of the record 3.03mn b/d set in 2017 (see table). *With volumes from Russia – 2021’s number five supplier with 15...
Volume: 66Issue: 03Published at Fri, 20 Jan 2023 -
Aramco Trading Launches American Subsidiary
...ade fuels and base oils,” Aramco says. The ‘Port Arthur’ refinery has been wholly owned by Aramco since it paid $2.2bn to Shell to acquire the major’s 50% stake in the facility in May 2017 (MEES, 10 March 2017). Under the deal signed in March 2017, the 50:50 Motiva JV was broken up, with Aramco ge...
Volume: 66Issue: 03Published at Fri, 20 Jan 2023 -
Intra-Kurdish Rift Risks United Position In Baghdad
...ghdad. That is no longer the case, especially since the 2017 death of PUK founder and long-time leader Jalal Talabani. With the KDP and PUK backing different factions in last year’s lengthy government formation process, the fissures between the two deepened further (MEES, 17 June 2022). That melodrama ha...
Volume: 66Issue: 03Published at Fri, 20 Jan 2023 -
Record-Breaking Oman LNG Signs New Sales Deals
...G sector over the past seven years has been remarkable. Exports bottomed out in 2015 at just 7.91mn tons amid a narrative of decline as rising domestic demand from the power generation sector crimped feedstock availability. The September 2017 start-up of the 1bn cfd Khazzan tight gas development co...
Volume: 66Issue: 02Published at Fri, 13 Jan 2023