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Opec Solidifies Gains In 2022 As Saudi Sets Output Record
...pacity dropped from 3.15mn b/d in 2017/18 to 2.63mn b/d in 2020/21 according to the latest KOC figures (MEES, 22 October 2021). Kuwait also suffered from the full shut-in of the Partitioned Neutral Zone (PNZ), from where oil output is split with Saudi Arabia, between May 2015 and February 2020 (ME...
Volume: 66Issue: 02Published at Fri, 13 Jan 2023 -
Saudi Crude Exports Rise To Five-Year High In 2022
...10.57mn b/d for 2022 (see p7) drove an 800,000 b/d year-on-year increase in the kingdom’s crude oil exports. Figures from data intelligence firm Kpler show that crude exports (excluding Saudi Arabia’s 50% share from the Partitioned Neutral Zone) exceeded 7mn b/d last year for the first time since 2017...
Volume: 66Issue: 02Published at Fri, 13 Jan 2023 -
Can Iraq Use Gulf Football Tournament To Score GCC Investment Hike?
...fice. Saudi Arabia’s newfound willingness to deal with its northern neighbor then became more apparent from 2017 (MEES, 27 October 2017). The appointment of Mr Maliki’s close-ally, new Prime Minister Mohammed al-Sudani, has been met with initial wariness from Riyadh (MEES, 18 November 2022), with hi...
Volume: 66Issue: 02Published at Fri, 13 Jan 2023 -
Qatar Takes FID On Huge Petrochemicals Complex
...CUS Qatar first announced plans for this major new petrochemicals venture in 2017, with Mr Kaabi telling MEES in an interview that it was planning a “world-scale” facility to process ethane from its mammoth North Field gas expansion project (MEES, 8 December 2017). This was a major development given th...
Volume: 66Issue: 02Published at Fri, 13 Jan 2023 -
Oman Announces New National Gas Company
...d policies related to gas pricing and supply to various sectors of the economy including gas sales to industry. RESURGENT GAS SECTOR The start-up of BP’s 1bn cfd Khazzan tight gas project in 2017 spurred Oman’s gas revolution, with the second phase 500mn cfd Ghazeer play boosting pr...
Volume: 66Issue: 01Published at Fri, 06 Jan 2023 -
Iran’s Winter Gas Preparations Hit The Skids Amid Icy Snap
...ocessing plant which receives feedstock from Phases 22-24. As a result, NIGC had to shuffle around existing “Ukrainian-made turbines” for its winter preparations. Mapna was contracted to provide 16 such units – each 25MW in capacity – since at least 2017 but its line of MGT-30 turbines has suffered pr...
Volume: 65Issue: 51/52Published at Fri, 23 Dec 2022 -
Abu Dhabi’s Mubadala Cuts Energy Sector Exposure
...RMDOWN The other major transaction this week involved Mubadala’s fully owned upstream subsidiary, Mubadala Energy (formerly Mubadala Petroleum). Mubadala Energy was led by Mr Kaabi between 2014 and 2017, and he has since remained chairman of the firm. The firm boosted its net output to a record 500,000 bo...
Volume: 65Issue: 51/52Published at Fri, 23 Dec 2022 -
Qatar Eyes Substantial $8bn Surplus For 2023
...ded, alluding to the 2017-2021 embargo of Qatar by many of its neighbors. The embargo ended in January 2021, but with Doha having restructured its trade patterns there has been no full return to the previous status quo (MEES, 25 November). Qatar invested heavily in its infrastructure in preparation fo...
Volume: 65Issue: 51/52Published at Fri, 23 Dec 2022 -
Genel Considers Impairment At Iraqi Kurdistan’s Sarta As Latest Well Flops
...aqi Kurdistan marked a major milestone for the region as the first new field to enter production since 2017 (MEES, 27 November 2020). But more than two years later production has dwindled from initial levels and work on appraising new areas has flopped, leading operator Genel to this week announce an im...
Volume: 65Issue: 50Published at Fri, 16 Dec 2022 -
Kuwait’s Need For LNG Slumps As New Al-Zour Refinery Ramps Up Fuel Oil Output
...FO pipeline from the refinery “will begin commissioning” after “filling and stabilization operations” on the first pipeline are completed. The construction project overseen by KOC also includes a gasoil pipeline. The $850mn pipeline contract was awarded to Italy’s Saipem in August 2017 and in...
Volume: 65Issue: 50Published at Fri, 16 Dec 2022 -
Oman LNG Export Revenues Set To Smash Annual Record
...talEnergies (5.54%), Korea LNG (5%), PTTEP (2%) and a trio of Japanese firms. GAS REVOLUTION The start-up of BP’s 1bn cfd Khazzan tight gas project in 2017 spurred Oman’s gas success, with the second phase 500mn cfd Ghazeer play boosting production when it came online in October 2020. Do...
Volume: 65Issue: 50Published at Fri, 16 Dec 2022 -
Malaysia’s Petronas Seeks To Kickstart UAE Unconventional Oil Development
...ES, 12 March 2021). UNCONVENTIONAL OIL’S SLOW START Unconventional hydrocarbon development is accelerating in the Middle East, but to-date the focus has been overwhelmingly on gas rather than oil. The catalyst was the Khazzan development in Oman’s Block 61 which started up in 2017. Bl...
Volume: 65Issue: 49Published at Fri, 09 Dec 2022 -
Tunisia Struggles To Keep Oil & Gas Output Up
...wn from 201mn cfd in 2010. With the concessions only accounting for a tiny fraction of Shell’s global output, the firm has long been looking to concentrate its efforts elsewhere. It was looking to quit Tunisia as far back as 2017, though back then it was looking to at least make some cash from a sa...
Volume: 65Issue: 49Published at Fri, 09 Dec 2022 -
Iraq’s New PM Sudani Eyes Diplomatic Gains From Saudi Summit
...November). BROTHERS AND FRIENDS Bilateral Saudi-Iraqi relations had warmed during the tenure of Mr Sudani’s US-backed predecessor Mustafa al-Kadhimi, continuing a trend that had begun in earnest in 2017 with PM Haider al-Abadi as Riyadh sought to counter Iran’s influence in Baghdad (ME...
Volume: 65Issue: 49Published at Fri, 09 Dec 2022 -
A Tale Of Two Egypts: Onshore Independents Struggle Even As Med Gas Thrives
...s drilling activities, which will have a positive impact on the Company’s production in Egypt,” Dana says. NILE DELTA BLUES Dana’s Egypt gas output fell to 125mn cfd for Q3 (25,800 boe/d including liquids) down from 139mn cfd a year earlier and almost 190mn cfd back in 2017. Ov...
Volume: 65Issue: 48Published at Fri, 02 Dec 2022 -
Adnoc Plans IPO Of Key Gas Midstream Operations
...ES, 3 June). In September 2021, $1.1bn was raised through a 10% offering in Adnoc Drilling (MEES, 24 September 2021), and in October 2021 Adnoc and Egypt’s OCI raised $795mn by floating 13.8% of their Fertiglobe fertilizer JV (MEES, 8 October 2021). The first IPO of a subsidiary was the 2017 fl...
Volume: 65Issue: 48Published at Fri, 02 Dec 2022 -
Israel’s Paz Eyes ‘Ashdod Oil Refinery’ Spin-Off As Margins Surge
...gh margins this year, though revenues were hit by a full maintenance shutdown between May and July which left Q3’s output of 62,700 b/d the lowest since Q2 2017 (see chart 1). Despite the prolonged Paz outage, Israel’s overall refinery output is on course to post a three-year high, averaging 27...
Volume: 65Issue: 48Published at Fri, 02 Dec 2022 -
Middle East Firms Ramp Up Drilling Fleets
...between offshore drilling contractor Valaris and Saudi Aramco. ARO started operations in October 2017 and currently operates 15 rigs. The venture says it intends to order 20 new jack-up rigs over the next decade and expects the first two to be delivered in 2023. This pair are to be constructed at th...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Qatar’s Neighborly Exports Jump As Regional Leaders Reconcile
...e extent to which regional states are seeking to draw a line under the damaging Qatar embargo which lasted from June 2017 until January 2021 (MEES, 8 January 2021). That embargo was finally brought to an end at the 5 January 2021 GCC summit at Al Ula in Saudi Arabia. Disagreements may still happen be...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022 -
Kuwait Sees Eighth Consecutive Deficit Despite Oil Revenue Surge
...tween the legislative and executive branches of government. Even a debt law required to ease the government’s reliance on direct oil revenues by tapping into its dollar reserves has been stuck since October 2017. Kuwait’s bloated government expenses have depleted its General Reserve Fund (GRF) by some KD...
Volume: 65Issue: 47Published at Fri, 25 Nov 2022