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Uniper Seeks Buyers For Fujairah Refinery
...rket. The two-train topping plant started commercial operations in 2017, and Uniper says it has “the capacity to produce about 5mn t/y of marine fuels with sulfur content as low as 0.1% and up to IMO 2020 specifications [0.5%].” The refinery runs on crude oil feedstock imported on tankers. Data in...
Volume: 65Issue: 46Published at Fri, 18 Nov 2022 -
QatarEnergy Plots Pivotal Iraq Entry Amid Planned Transformation
...transform itself into a major global energy player. “Qatar Petroleum; 10 years from now you will not recognize it,” CEO Saad Sherida al-Kaabi told MEES in 2017 (MEES, 8 December 2017), and in the ensuing five years, the Qatari state energy giant has changed much more than just its name. Mr Ka...
Volume: 65Issue: 11Published at Fri, 11 Nov 2022 -
Kuwait Reshuffles Oil & Gas Sector Leadership
...reverse capacity losses which saw KOC’s crude oil capacity fall to a 12-year low of 2.63mn b/d for 2020-21 (MEES, 22 October 2021), down from a peak of 3.15mn b/d in 2017-18. KOC’s new target is to reach 3.2mn b/d capacity by 2025 as part of KPC’s overall target of 3.5mn b/d. The other 30...
Volume: 65Issue: 45Published at Fri, 11 Nov 2022 -
TotalEnergies Eyes QatarEnergy Partnership In Iraq
...om 2017 to 2020, indicated that moving Iraq’s gas capture projects ahead should take priority. No surprise there given that Iraqi oil ministers have for years stressed that tackling flaring is their top priority, albeit with scant progress to date. Iraq’s new cabinet, in its manifesto submitted to...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
Inpex Eyes Sale Of Stake In Iraq’s Eridu Discovery
...-1) to partner CNPC and fellow Chinese state firm CNOOC (MEES, 29 April). Instead, the stake is to be distributed between oil ministry subsidiary Basrah Oil Company and Indonesian NOC Pertamina (MEES, 29 July). Eridu was discovered in February 2017 and is being developed under an Exploration, De...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
Algeria Prepares Oil & Gas Bid Round
...asons (MEES, 20 October 2017). US firms such as ExxonMobil and Chevron have shown interest in recent years but nothing concrete has been signed so far. Occidental has also hinted at potential shale gas projects. “As a large American company with state-of-the-art shale capabilities we think we have a lo...
Volume: 65Issue: 44Published at Fri, 04 Nov 2022 -
Karish Start-Up Increases Israel Gas Competition
...mpany that was forced to sell a 50% stake in its Energean Israel operations to private equity firm Kerogen Capital for just $50mn in 2017 to help fund operations (MEES, 17 February 2017). ENERGEAN KEY ISRAEL OFFSHORE ACREAGE & ASSETS...
Volume: 65Issue: 43Published at Fri, 28 Oct 2022 -
Sarsang Expansion Facility Starts Up
...r this year (see chart). The new facility will be the first significant new capacity addition since the Atrush field, where Shamaran is also present, came online in 2017. While the Genel-operated Sarta came online in late 2020, results have been disappointing (MEES, 13 May) and output averaged ju...
Volume: 65Issue: 43Published at Fri, 28 Oct 2022 -
Hayan Abdulghani Appointed Iraq’s Oil Minister
...tired in 2020. He was previously the chairman of Basrah Gas Company (BGC) and director general of South Gas Company (SGC). Mr Abdulghani was appointed director general of SGC in 2017, switching from his previous role as director general of Basrah Oil Company (BOC), which oversees Iraq’s largest oil fi...
Volume: 65Issue: 43Published at Fri, 28 Oct 2022 -
Europe Turns To Middle East For Replacement Gasoil Supplies
...rope’s imports from the region (including re-exports from Egypt’s Sidi Kerir) jumped by 131,000 b/d to 559,000 b/d in September. This is the highest figure in Kpler data stretching back to January 2017, topping the previous record of 541,000 b/d set in October 2021. But it is still far from su...
Volume: 65Issue: 42Published at Fri, 21 Oct 2022 -
Sabic: Jubail MEG Start-Up
...bsidiary. United (Sabic 75%, Public Pension Agency 15%, General Organization for Social Insurance 10%) awarded Korea’s Samsung Engineering a $700mn contract for construction of the 700,000 t/y MEG plant in December 2017 with completion initially scheduled for 2020 (MEES, 5 January 2018). The facility was fl...
Volume: 65Issue: 42Published at Fri, 21 Oct 2022 -
Egypt Taps Russian Oil, Israeli Gas To Keep LNG Exports Flowing
...wer plants in a bid to maximize gas available for LNG exports at record global spot prices (MEES, 23 September). Having been at just 20,000 b/d for much of 2020 and 2021, fuel oil burn is now running at the highest level since 2017 with August’s 119,000 b/d only marginally down on July’s four year mo...
Volume: 65Issue: 42Published at Fri, 21 Oct 2022 -
One Year After Elections, Iraq Finally Gets PM Nominee
...tober 2017). While Mr Sudani’s links to Mr Maliki may point to difficulties on the horizon, he has also served as Chairman of the Energy Committee of the Iraqi-Saudi Coordination Council. This could bode well for Iraq’s previous efforts to attract Saudi energy investment (MEES, 22 July). WHAT NE...
Volume: 65Issue: 41Published at Fri, 14 Oct 2022 -
Inpex Mulls Exit From Iraq’s Eridu
...ctor firm. The partners estimate the field has 7-12bn barrels of oil in place, of which more than 400mn is recoverable with estimated potential output of 250,000 b/d. Attempts to move the field to development have dragged since its discovery in February 2017, though the ministry confirmed late last ye...
Volume: 65Issue: 40Published at Fri, 07 Oct 2022 -
Opec+ Considers Further Cuts Amid Softening Market
...ventories remain severely depleted. The IEA says that despite a 43.1mn barrel rise in July, OECD commercial oil inventories remained 274.9mn barrels below the 2017-21 five-year average which Opec+ long cited as the target range. A period of restocking would be welcomed by most observers. The IEA cu...
Volume: 65Issue: 39Published at Fri, 30 Sep 2022 -
Oman Oil: Production Up, Exports Down
...NSTRAINED It is the sultanate’s success in developing gas plays in recent years that has resulted in soaring condensate output. The start-up of BP’s 1bn cfd Khazzan tight gas project in 2017 was a game-changing development and the second phase 500mn cfd Ghazeer play came online in October 2020 providing an...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
Shell’s Incoming CEO Set To Oversee Streamlined Mena Growth
...rely 300,000 b/d by 2017 before dropping sharply to just 252,000 b/d in 2018 as Shell exited its Iraq holdings in frustration over payment delays and slim margins (MEES, 23 March 2018). That left Shell with sizeable equity production from just Oman, Qatar and the Egypt holdings it acquired with its 20...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
Saudi Oil Burn Dips From Record High
...After hitting an all-time high in June, Saudi oil burn dropped by 170,000 b/d in July (see data, p18). While a July drop is unusual, the 1.31mn b/d monthly average was still the second highest July figure on record – behind only 2017’s 1.39mn b/d. Oil burn peaks during the summer when surging de...
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
UK Considers Israel Embassy Move to Jerusalem
...ptember during a meeting at the United Nations. Any such move is likely to draw widespread criticism, especially from the Palestinian Authority, which also heavily criticized Mr Trump’s 2017 decision. It also risks further entrenching tensions with the current US administration and EU states....
Volume: 65Issue: 38Published at Fri, 23 Sep 2022 -
Shamaran Secures Sarsang Stake As Total Exits Kurdistan
...rdistan for the second time – the Sarsang stake was acquired via its 2017 purchase of Denmark’s Maersk – was originally announced in July 2021 (MEES, 16 July 2021). Shamaran said at the time that “the Acquisition is highly accretive and transformative to Shamaran as it grows from a single asset company to...
Volume: 65Issue: 37Published at Fri, 16 Sep 2022