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Middle East Refiners To Add 2.3mn B/D Capacity By 2022-IEA
...pected to complete its 146,000 b/d Ras Laffan 2 condensate splitter, while the 81,000 b/d expansion of Oman’s Sohar refinery – officially due for 2016 start-up – is expected “around 2017.” Saudi Arabia’s next big refinery, a 400,000 b/d plant at Jazan, is still slated for 2018 but “could well be delayed” as...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Egypt Tying Up Deals For $2.2bn Dairut Power Plant
...art-up during 2017-20 (MEES, 29 January). Turbines for the three 4.8GW plants are being provided by Germany’s Siemens, under an €8bn ($8.81bn) contract. German trade credit insurance agency Euler Hermes is underwriting a €4.1bn, 12-year loan to the Egyptian government to help fund the Siemens de...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
East Mediterranean Gas Faces Crucial 2016
...ant. The tender sought gas volumes rising from 19.5-30.4 trillion BTU in the first year to 25-43 trillion BTU by 2025. According to the terms of the tender, first gas was to be delivered between 1 January 2016 and 30 June 2017 although, with Cyprus currently lacking gas infrastructure of any sort these da...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Skint, Petroceltic Sells Egypt Blocks
...illing North Thekah towards the beginning of 2017. We would consider drilling Port Fouad in 2017 – potentially back to back” (MEES, 27 November, 2015). The attraction of Edison to the two blocks is boosted by it having the Israeli Neta and Royee licenses immediately to the east. Petroceltic was op...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Oman And BP To Expand $16bn Khazzan Gas Project
...velopment of the Sultanate’s oil and gas sector appears unlikely (MEES, 12 February). Indeed, while the overall rig count fell, the number of gas drilling rigs remained at a record 15. Phase One of the Khazzan tight gas project is planned to deliver first gas in late 2017. The10.5 tcf field lies in...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Adnoc Head Replaced As Abu Dhabi Eyes Output Rise
...osting oil production capacity. Adnoc has majority stakes in all of Abu Dhabi’s oil fields, with production around 2.9mn b/d. As such, Adnoc is essential for the UAE’s plans to increase overall production capacity from 3.2mn b/d to 3.5mn b/d in 2017 and Mr Jaber will be expected to bring the dr...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Tunisia Bags EU, IMF Cash But Oil & Gas Output At Record Lows
...untry’s second year of production. Gas output has fared only somewhat less badly (see graph) More bad news came with Austria’s OMV revealing in its 18 February results presentation that first gas from southern Tunisia’s Nawara project has slipped from 2017 to 2018 following the start of pipe laying in De...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Iran Sets Out FDI Strategy As Foreign Cash Starts To Trickle In
...ich projects it to increase to 12.6% in 2017-18 before beginning to fall. Mr Nili adds that the Iranian economy must create 655,000 jobs annually, just to keep unemployment at its current level; to bring down the unemployment rate to below 10% Iran needs to create 1mn jobs each year, he ad...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Saudi ‘Dumping’ Has Cannibalized Opec Revenue For Minor Long-Term Gains
...ve a right answer, we have to consider the majors’ longer term capex plans; because in the long term oil companies will do their best to adjust themselves to the new conditions and continue to make profits and satisfy shareholders. Comparing majors’ capex for 2014 and 2017 shows that though th...
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
US Crude Output - Lower For Longer?: EIA Forecasts (Mn B/D By Date Of Forecast)
...SOURCE: EIA SHORT TERM ENERGY OUTLOOKS. FIRST 2017 FORECASTS WERE IN JAN 2016....
Volume: 59Issue: 07Published at Fri, 19 Feb 2016 -
Iran Eyes Growing Gas Shipments To Armenia, Turkey
...end $120mn on a new 400kV Armenia-Iran power transmission line. This would increase capacity from around 300MW to 1GW by 2018. Armenia’s Deputy Energy and Natural Resources Minister Hayk Harutyunyan said in October that he hoped the volume of Iranian gas imports would increase in 2017. Davood Manzoor, Vi...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Iran Inks First Post-Sanctions Petchems Deal: Will It Catalyze Sector Revival?
...uld earn $18bn on petchems sales in the current Iranian year up from $16bn for 2014-15. He says the country’s petchems income is expected to reach $22bn by 2017-18. Mr Zanganeh says Iran’s upstream and downstream expansion plans require a total investment of $200bn: $130bn upstream and $70bn for pe...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Global Oil Overhang To Persist Throughout 2016
...A faltering global economy, dampening oil demand growth and the return of Iran to international markets ensure that oversupply in global oil markets will persist into 2017. Disarray within Opec means that a unified decision to reduce output remains as distant as ever. Moreover, both Opec an...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Morocco Inaugurates 160MW Solar Plant, Starts On Two More
...rmany’s KfW. The completion of Noor 1 takes Morocco’s installed generating capacity to 7.85GW. Morocco’s solar program is part of a government plan to reduce reliance on fossil fuel imports. However, it is also developing coal-fired plants with 320MW and 1.39GW capacity, due online in 2017 and 2018 (MEES, 16...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
Morocco: QP Boost
...15: Chevron has had zero Mena output for the past nine months. Chevron says it hopes the spat between the two GCC allies that has cut PNZ output to zero will be resolved with output restarting “by 2017” (MEES, 6 November, 2015). ...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
East Asian Importers Take Less LNG In 2015; Little Sign Of An Upturn In 2016
...uthwestern Japan (MEES, 30 October 2015). “We forecast Japanese LNG imports will be down by another 2.4mn tons in 2016 and by 2.2mn tons in 2017, driven largely by impacts from nuclear plant availability,” analysts at London-based Energy Aspects say in a recent note. GRAPH 1: ASIA’S THREE LARGEST LNG IM...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016 -
Kuwait Refining Earnings Undermined By Weak Product Export Prices
...oject (CFP), which involves upgrading the existing Mina al-Ahmadi and Mina Abdullah refineries by the end of 2017 (MEES, 13 March 2015). The CFP is now more than 40% complete, Mr Mutairi says. Although Mr Mutairi did not name the other projects in the KD11bn of strategic projects, KNPC separately to Al...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016 -
Iran And Saudi Arabia Drive Opec Output Rise As Indonesia Returns
...2mn b/d to 3.5mn b/d by 2017, Iran looks set to pull away. Kuwait has fallen behind since October 2014, when a dispute with Saudi Arabia over management of the Partitioned Neutral Zone (PNZ) led to production falling there, and halting altogether in 2015. Chevron said in its Q4 2015 conference call on 29 Ja...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016 -
Kuwait’s Budget Deficit Set To Soar As Spending Continues Despite Subsidy Cuts
...main at current levels,” he says. The current Brent forward curve for the April 2016-March 2017 budget period averages $38/B, well above the budgeted figure. But, as he estimates that the 2016-17 budget will need a breakeven oil price of $65/B, a deficit still looks on the cards. In recent years Ku...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016 -
Egypt Looks Eastwards For Big Power: To China For Coal, To Russia For Nuclear
...id Corporation of China for a $650mn transmission system linking three 4.8GW plants, using gas-fired turbines from the Siemens deal, to Egypt’s grid. These are being built at Beni Suef, Burullus and a planned new capital city 45km east of Cairo, for start-up over 2017-20. Mr Xi signed 21 pr...
Volume: 59Issue: 04Published at Fri, 29 Jan 2016