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Egypt Eyes Coal-Fired Power To Reduce Gas Reliance
...$6.1bn per GW of capacity, compared with $4.4bn or $730mn/GW for the coal-fired plant, suggesting that prestige and not just fuel diversity is a factor in government’s power plan (MEES, 15 December 2017). GAZ GUZZLERS Despite the move to broaden its powergen fuel options, gas-fired capacity co...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Qatar & Turkey: Brothers In Arms?
...The June 2017 Qatar embargo threw a spotlight on the deepening Doha-Ankara relationship. But trade volumes are modest, and the most ambitious contract to-date is a murky $5.2bn energy sector deal which raises more questions than answers. The 24 June re-election of Turkish President Recep Ta...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Exxon Walks Away From Iraq Seawater Project
...this year (MEES, 3 November 2017). But Iraq’s oil minister Jabbar Al-Luaibi cast doubt on the deal (weeks after announcing it was in its ‘final stages’) the following month, proclaiming that if a deal with Exxon were not reached the project would be put back on offer in February (MEES, 5 Ja...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Total Poised For Further Mena Upstream Expansion
...y upstream asset is a 30% stake in the joint venture operating the 300,000 b/d Al Shaheen field acquired in July 2017 (MEES, 28 July 2017). Mr Pouyanné appears optimistic that as “we are becoming the number two in the LNG world via the acquisition of Engie [LNG] assets in July” the firm is well pl...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Saudi Wins Out, Opec Switches To Group Ceiling
...r18 Mar18 YTD vs2017 2017 2016 Algeria 1....
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
US Shale: Reading The Runes On Future Supply Growth
...illing & Projects Al Hirschberg told the firm’s Q1 earnings call. BAKKEN BUSINESS Perhaps the greatest success of recent months has been North Dakota’s Bakken. As recently as early 2017, the start of the latest US shale boom, many of the sector’s leading lights were skeptical that Bakken output wo...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Shaikan Output To Double After Deal With KRG
...rqala field in Q3, wrapping up Phase-1 development which has seen output rise from 5,000 b/d in early 2017 to more than 21,000 b/d now; 30,000 b/d by early 2019 looks eminently achievable. Elsewhere, Canadian minnow Oryx announced on 20 June that it has completed the first well at the Banan field wi...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
OMV Tests Yemen Restart
...turn. The country’s miniscule current output mostly comes from state firm PetroMasila’s Blocks 10 and 14 in the eastern Marib basin. This is largely shielded from the conflict and thus able to export about 44,000 b/d from Ash-Shihr port (MEES, 15 September 2017). OMV is clearly less skittish than ot...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Saudi Petchems JVs Get Greedy For Naphtha, Cutting Into Exports
...om the integrated 400,000 b/d Petro Rabigh refinery (MEES, 20 April). RUNS FALL Some of the reduction in naphtha availability after January can be attributed to lower refinery runs, which fell away from the December 2017 record of 2.828mn b/d to just 2.200mn b/d for April. Work at two re...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Algeria Makes Electricity Gains, But Struggles To Power The Future
...ility Sonelgaz says that the country’s generators delivered a total 69.79TWh of electricity to the grid in 2017, an increase of 7% on 2016. But the firm has failed to lift a number of big CCGT projects off the ground, owing largely to a lack of foreign funds. Of the total generated electricity last ye...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Egypt Continues Subsidy Reform, Hikes Fuel Prices
...e chart). For the current 2017-18 financial year ending 30 June, Mr Molla says subsidies are on track to hit E£125bn ($7.0bn), well above the budgeted E£110bn, but slightly down in dollar terms on 2016-17’s E£115bn ($6.2bn) spend (MEES, 23 February). The increase in fuel prices could help ea...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Crude Official Selling Prices ($/B)
...*VS ICE BRENT FROM JULY 2017 PREVIOUSLY VS BWAVE....
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
KRG To See Output Increase From Smaller Fields
...gion are increasingly willing to reinvest. The results are beginning to show. Russia’s Gazprom Neft plans to drill a third well at its Sarqala field in Q3, wrapping up Phase-1 development which has seen output rise from 5,000 b/d in early 2017 to more than 21,000 b/d now; 30,000 b/d by early 2019 looks em...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Algeria: Total, Repsol Recommit But More Investment Needed
...the reins (MEES, 21 April 2017), and followed this up with broad partnership deals with many of Algeria’s key existing upstream investors – including Eni and Anadarko as well as Total and Repsol. On the other hand, the fact that commitments to date have come from existing investors indicates th...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Aramco Downstream Strategy: Plastic Fantastic As Sadara Park Ramps Up
...ants targeting the automotive industry, while local firm Rufayah will process pyrolisis by-products to make hydrocarbon resins. Sadara started up the cracker at the heart of its complex in August 2016 and started up the last of its 26 units in August 2017. The plant processes naphtha, ethane, be...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Markets Face Precarious 2019 Amid Supply Uncertainty
...ne. It’s difficult to see the common ground that unites Opec’s 14 members. OPEC SUPPLY & DEMAND FORECASTS, JUNE 2018 (MN B/D) 2016 2017 vs’16...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
US Output Set For Record 2mn B/D 2018 Growth; 2019 Forecasts Trimmed On Pipeline Constraints
...ble). • NGLs output is also slated to grow by almost 600,000 b/d to 4.33mn b/d for 2018, taking total 2018 oil output to a whopping 15.12mn b/d. This smashes 2017’s previous annual record of 13.09mn b/d, whilst forecast year-on-year gains of 2.03mn b/d top 2014’s previous record of 1.75mn b/d. • But, wh...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Iran Looks East For Support As US Squabbles With Europe
...erhaul China in early 2017. CHINESE, RUSSIAN FIRMS STAND TO BENEFIT China’s state-owned CNPC (30%) last year signed up alongside Total to develop Phase 11 of Iran’s South Pars gas field (MEES, 23 June 2017). With Total set to relinquish its 50.1% stake in the project unless it manages a se...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Egypt Looks To Delayed Midor Expansion, ERC Start-Up To Ease Products Shortfall
...0,000 b/d in 2017 while gasoline imports averaged 90,000 b/d (MEES, 26 January 2018). While additional Midor capacity could cover just 8% of 2017 diesel imports and 13% of gasoline, next year’s planned start-up of the Egyptian Refining Company (ERC) 81,500 b/d hydrocracker, will make a sizable dent in th...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Mena Countries Eye Oil, Gas Savings From Renewables Plans
...ficient CCGT plants) or 78,000 b/d of liquid fuel (see table). This is less than 10% of the oil burnt by Saudi Arabia alone (974,000 b/d for 2017: 458,000 b/d crude and 465,000 b/d fuel oil). Only for Morocco, and to a lesser extent Jordan and Tunisia (MEES, 1 June), have new renewables significantly de...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018