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Iraq Hopes To Slash Products Imports By 60% From Next Year
...cord levels this year. The Karbala project had seen years of delay since its EPC contract was awarded in 2014 to a Korean consortium led by Hyundai Engineering (MEES, 10 January 2014). Former oil minister Thamir al-Ghadhban told MEES in 2019 that delayed payments by the government were the culprit (ME...
Volume: 65Issue: 33Published at Fri, 19 Aug 2022 -
Morocco’s Samir Refinery: Is There A Case For A Restart?
...wards trend save for a Covid related blip in 2020. Total products demand recovered to near record levels of above 290,000 b/d last year. Diesel imports, a fuel globally in high demand, for example hit a record 126,000 b/d in 2021 (see chart 1). In its last full year of operations in 2014, Samir pr...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
Israel Refiners Post Late-2021 Output Rebound
...th Q4’s 87,300 b/d still well shy of capacity. The two plants’ combined gasoline output increased 9% to 67,400 b/d for 2021, although this remains 20% below 2014’s record 84,500 b/d. Diesel – output of which fell by less than that of other transport fuels last year – saw a more modest 4% year on ye...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Saudi Arabia’s Oil Export Revenues Jump To Three Year High
...art 1), while the $64.2bn Q4 figure was the highest for any quarter since prices first collapsed in late 2014. The increase came despite Saudi Arabia’s crude oil production dipping by 100,000 b/d to an 11-year low of 9.12mn b/d for 2021, with gross oil exports in turn dropping to an 11-year low 7.56mn b/d ac...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Saudi Arabia’s Sabic Hails Exceptional 2021
...Sabic recorded earnings of $6.14bn for 2021, the highest since 2014. While Sabic may boost revenues in 2022, the firm expects profits to dip from last year’s “exceptional” highs due to rising feedstock prices. Saudi petchems giant Sabic raked in its highest profits in seven years for 2021 as...
Volume: 65Issue: 05Published at Fri, 04 Feb 2022 -
Iraq’s 2030 ‘Sustainable Transition’ Plan: Gas & Renewables To The Fore
...ld up by the Islamic State’s 2014-2015 rise, and in 2018 Iraq took the field away from a consortium led by Turkey’s TPAO. Even now, MEES understands that the Sinopec deal “has yet to be finalized.” As for Akkas, talks with the Saudis led by oil minister Ihsan Ismaael seem to have gone nowhere, an...
Volume: 64Issue: 48Published at Fri, 03 Dec 2021 -
Saudi Petchems Firms Post Strong Results Despite Pricy Feedstock
...e first nine months of 2021 are already up to $18.09bn. This is likely to lead to the highest full year profits since 2014, even if there is further slippage in Q4. CEO Yousef al-Benyan says the results “marked a continuation of our recovery from the impact of Covid-19, albeit at a lower level th...
Volume: 64Issue: 44Published at Fri, 05 Nov 2021 -
Yemen Takes Delivery Of Saudi Products Shipments
...started in 2019 and is currently running at around 10,000 b/d (MEES, 15 January). A planned second phase 400MW expansion was awarded to India’s BHL for $436mn in 2011 with work beginning in 2014 (MEES, 9 August 2013). The project was financed by the Arab Fund for Economic and Social Development, the Sa...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Israel Oil Demand Falls To 9-Year Low Amid Record Imports
...cond for 2020 with volumes falling by 43% to 39,900 b/d. The KRG was third on 19,300 b/d, less than half 2019 levels and the lowest annual figure since 2014. However, Israel’s imports of Kurdish crude have surged since the start of 2021, averaging 46,800 b/d for Q1 as a whole, ahead of Azerbaijan on...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Gas Plant Inauguration Boosts Iran’s Petchems Outlook
...an’s demand for gas feedstock (MEES, 10 October 2014). Much of this has been sourced from the giant South Pars gas field which Iran shares with Qatar, but Iran’s routine flaring of associated gas has long offered another source. Iran’s wasteful flaring puts it behind only Iraq (see p4) in the re...
Volume: 64Issue: 04Published at Fri, 29 Jan 2021 -
Iraq Awards New Refinery At Nasiriya - ref
...stribution and marketing sectors are wholly state-owned and end-user prices are heavily subsidized. Investors are therefore only attracted to refining projects targeting export markets. Iraq’s oil ministry has however made some progress in restoring norther refining capacity taken out by Islamic State in 2014...
Volume: 64Issue: 03Published at Fri, 22 Jan 2021 -
Iraq Baiji Refinery Sees Restart Of Second CDU
...,000 b/d Salahuddin-2 unit at the Baiji refining complex in northern Iraq, boosting the country’s effective refining capacity by around 10%. The once-310,000 b/d Baiji complex – also called al-Samoud – was completely destroyed in 2014 by Islamic State militants leading to a sizeable drop in the co...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021 -
Saudi Petchems Firms: Consolidation Ahead?
...ead in December 2018. Sipchem and Sahara had revived a merger plan that was shelved in 2014 as a massive collapse in crude prices slashed petchems earnings (MEES, 7 December 2018). Many of the other listed Saudi petchems firms – the Aramco/Dow Sadara joint venture is not traded on Tadawul – are su...
Volume: 63Issue: 39Published at Fri, 25 Sep 2020 -
Iraq Plans Qayara Refinery Expansion
...veiled plans for multiple greenfield refineries, but the only one to progress is a 140,000 b/d project at Karbala awarded to a Korean consortium led by Hyundai E&C under a $6bn contract in 2014 (MEES, 21 February 2014). The delayed project now targets 2022-startup, though even this looks optimistic. Th...
Volume: 63Issue: 37Published at Fri, 11 Sep 2020 -
Kuwait Completes First Package Of Mina Abdullah CFP
...oduction of Euro 5 specification fuels. Contracts worth $12bn were awarded in 2014 with construction work scheduled to be completed in late-2017 (MEES, 14 February 2014). After years of delays CFP is now approaching completion. The latest landmark came as US contractor Fluor announced on 18 August that it...
Volume: 63Issue: 34Published at Fri, 21 Aug 2020 -
Satorp Gets Cracking With Amiral Petchems Integration
...el, LPG, aromatics, propylene and petroleum coke. It was started up in two phases and reached initial full crude distillation capacity of 400,000 b/d in 2014 (MEES, 24 October 2014). Satorp has since been debottlenecked, first to 440,000 b/d in 2018 and again to 460,000 b/d throughput capacity ea...
Volume: 63Issue: 28Published at Fri, 10 Jul 2020 -
Ecomar Thinks Big After Fujairah Refinery Start-Up
...ly 2014). “The concept was changed,” says Mr Shaddick. “We currently process a mixture of Arab Heavy and Arab Light crudes [from Saudi Arabia], which are relatively low in sulfur among regional crudes. We are looking to add a coker and desulfurization units in the near future as part of our ex...
Volume: 63Issue: 26Published at Fri, 26 Jun 2020 -
Petro Rabigh Adds Hydrotreater
...nthly Jodi data. Saudi refinery throughputs for April were 1.84mn b/d, their lowest level since the 1.81mn b/d processed in November 2014 (see chart). Saudi refinery operations in 2020 had earlier been impacted by a mid-January to end-February shutdown of 440,000 b/d Satorp refinery at Jubail, a jo...
Volume: 63Issue: 25Published at Fri, 19 Jun 2020 -
Egypt Cuts Oil Import Bill As Refineries Up The Pace
...ypt, it is fuel oil demand that has fallen the furthest: from a peak of 196,000 b/d in 2014 and 2015, when the country’s gas shortage was at its most severe, to just 76,000 b/d for 2019, by far the lowest figure in Jodi data stretching back to 2002 (see chart 2). Overall, the near 160,000 b/d fall in...
Volume: 63Issue: 14Published at Fri, 03 Apr 2020 -
Egypt Petchems Sector Boosted By Gas Revival, Eyes Expansion
...ES, 8 May 2015). Data from state firm Echem – partner in most Egyptian petchems projects – show its output rebounding from 1.47mn tons for the 2014-15 financial year to 3.8mn tons for 2016-17. PETCHEMS STRATEGY President Abdel Fattah al-Sisi met with oil minister Tareq El Molla and ot...
Volume: 63Issue: 06Published at Fri, 07 Feb 2020