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Barakah Reactor At 80% Capacity
...ll capacity while its performance is monitored. Nawah says that once 100% output is achieved, the plant will be gradually shut down for a check outage which “takes place over several months.” Barakah-1 was planned for start-up in 2017, with the other three units to be brought on line at yearly in...
Volume: 63Issue: 47Published at Fri, 20 Nov 2020 -
Egypt Gas Output Makes Late-2020 Recovery Despite BP Collapse
...TPUT SLUMP FOR BP’S WND One of the key projects, along with Eni’s Zohr, that has helped boost Egypt’s Mediterranean output in recent years was BP’s 5tcf West Nile Delta (WND), which started-up in April 2017 (MEES, 12 May 2017). But MEES understands both Phase 1, Libra and Taurus fields, an...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
UAE Joins Shale Revolution With Unconventional Gas Start Up
...irly soon” (MEES, 29 May). However, the region’s leading unconventional player is Oman, where BP brought the 500mn cfd Ghazeer project online last month (MEES, 16 October). Ghazeer is the second phase development of Block 61’s tight gas reserves, following the 2017 start-up of 1bn cfd Khazzan ou...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
EOG Goes Big On Oman Shale With Farm-In At Tethys’ Block 49
...stream (MEES, 25 September), Houston-based EOG Resources is making its second foray into the sultanate, this week taking 50% of Tethys Oil’s Block 49, which is located next to EOG’s recently-acquired Block 36 in the south west of the country (see map). Tethys acquired Block 49 in 2017 (MEES, 24 No...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
Adnoc/ADQ JV Launches $5bn Plan For Ruwais Petchems
...18). This is part of a 2030 strategy to boost refining capacity by 60% to 1.44mn b/d and more than triple petchems capacity to 14.4mn t/y by 2025 (MEES, 1 December 2017). Adnoc and ADQ announced on 10 November that ‘anchor’ projects will be promoted as part of a $5bn first phase of the park, with de...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
Taqa Hikes Foreign Ownership Limit To 49% Ahead Of Offering
...reign investment in Taqa supports the “significant efforts of our country’s leadership to encourage foreign capital inflows.” State petroleum firm Adnoc has led the way, raising $851mn in a 2017 IPO of Adnoc Distribution. It has also brought foreign investors into its midstream operations (MEES, 26 Ju...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
Tunisia: Southern Output Returns
...ocked output from Tataouine province, calling on Tunis to implement a 2017 deal on promising investment and jobs (MEES, 18 September). The new deal stipulates that the government create a development fund, hire 1,000 workers and drop charges against protesters arrested during the unrest. The bl...
Volume: 63Issue: 46Published at Fri, 13 Nov 2020 -
Iraq To Launch New Basrah Medium Grade In January 2021
...aims to launch the new grade on 1 January, less than two months from now. The expedited timeframe has taken many observers by surprise. Somo has long planned to launch Basrah Medium, first floating the idea in 2017 (MEES, 26 May 2017). As recently as May 2019, Somo Director General Alaa Al...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
Petrofac Seeks $530mn From Bp/Equinor Algeria Gas Project As Finances Stretches By Continued Saudi Boycott
...ly managed to fully complete the In Salah tie-ins in November 2017 – some 30-months beyond the development’s original 50-month work-schedule. It remains unclear how much of the delay stemmed from the In Amenas attack: similar-length delays are par for the course in Algeria. STRETCHED FI...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
In Salah & In Amenas Gas Output Slump
...oduction hitting a 12-year high 808mn cfd in 2018 following the November 2017 tie-in of four ‘southern fields’ with the completion of a $1.2bn EPC contract by the UK’s Petrofac (see main story). Whereas In Salah saw a sudden collapse in output from Q2 – a timing that meshes with Europe’s Covid-related de...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
KRG’s Sarta To Start Soon
...me online since the startup of 50,000 b/d Atrush in 2017, and could provide a significant boost to the region’s struggling oil sector. The startup of a new field, and critically the first operated by a US major, will be welcome positive news for the KRG– even if it will do little to rectify the on...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
Siemens Talks Mena Power With MEES
...dividuals working closely with the government. And most importantly, they have a better electricity system than they did before. ON A LIBYA REENTRY Q: Siemens signed a €700mn deal with Libya to build two power plants in 2017 that appears to have been derailed by ongoing in...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
Dana Makes Sukuk Payment
...UAE-based, KRG focused independent Dana Gas announced 2 November that it has “fully redeemed the $309mn” outstanding balance of a Sukuk issued on 31 October 2017. Dana, which has a history of strained relations with its Sukuk holders (MEES, 18 August 2017), had already made $221mn worth of re...
Volume: 63Issue: 45Published at Fri, 06 Nov 2020 -
Egypt Gas Producers Get Export Boost As Asian LNG Prices Rise
...s field, located in the North Damietta offshore block which also houses Atoll. Qattameya, discovered in 2017 in 108ms water has been tied back 45km to the Ha’py platform and “is expected to produce up to 50mn cfd,” BP says. The UK major is also readying start-up of the Atoll-4 well: it previously fl...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Dana Gas Sells Producing Egypt Assets To Texas-Based IPR
...lations with Sukuk holders (MEES, 18 August 2017) and had flagged up the sale of its Egypt assets as a preferred method of meeting the looming payment (MEES, 14 February). This suggests that Dana was hardly in a position to dictate terms in the latest sale, though a $90mn one-year loan with UAE lender Ma...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
QP & Total Make Second South Africa Discovery
...panding internationally… my ambition is for Qatar Petroleum to be seen as an International Oil Company and be talked about at the same level as ExxonMobil, Shell, ConocoPhillips, Total” (MEES, 8 December 2017). This ambition has led QP to partner with international majors at a host of overseas assets in...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Gulf Oil Giants Eye Enhanced India Ties
...pand their commercial links. The largest three oil producers in the Middle East (and Opec) are also India’s three largest suppliers (see chart). Opec No.2 Iraq overtook Saudi Arabia as India’s largest supplier in 2017 and has held on to the crown ever since, with both supplying record volumes last ye...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Saudi Deficit Falls To $11bn For Q3 As Non-Oil Sector Surges
...venues stay flat then the deficit could conceivably come in above $80bn. Q4 deficits in both 2017 and 2018 were more than $30bn. FINANCING THE DEFICIT In order to finance last quarter’s $10.9bn deficit, the government turned to domestic debt. Overall, it raised $11.2bn domestically, opting en...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Qatar Government Revenues Drop in Q3
...rink by 4.5% this year. This would be the first time that the economy has shrunk on an annual basis since 2017, and this year’s decline is expected to dwarf that year’s 1.5%. The latest government figures show that the economy shrank by a massive 6.1% in Q2 versus a year earlier (see chart 1), and wh...
Volume: 63Issue: 44Published at Fri, 30 Oct 2020 -
Russia Overtakes KRG As Israel’s Top Crude Supplier For 2020
...plying a record stockbuild given lackluster demand (MEES, 4 September) – imports fell back to 208,000 b/d last quarter according to data intelligence firm Kpler. That marked the lowest quarterly figure since Q4 2017’s 197,500 b/d. Israel has had considerable success in diversifying its import slate si...
Volume: 63Issue: 43Published at Fri, 23 Oct 2020