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Asian LNG Demand Remains Weak As Winter Approaches
...maining weak ahead of the key winter demand season. Collective buying by the top five Asian importers – China, Japan, South Korea, India and Taiwan – of 51.9mn tons for Q3 marked the lowest figure for the quarter since 2017, with imports remaining weak for October according to the latest Kpler data. Of...
Volume: 66Issue: 45Published at Fri, 10 Nov 2023 -
Cairo Eases Power Cuts Amid Returning Volumes of Israel Gas
...ypt initially brought in two FSRUs to import LNG in 2015 as gas demand outstripped domestic gas output. But with the 2017 start-up of the 21.5tcf Zohr field domestic gas output soared (see chart, p2) and the need to import LNG lessened: Egypt most recently imported LNG in September 2018. For security of...
Volume: 66Issue: 45Published at Fri, 10 Nov 2023 -
Oman’s Blocks 3&4: Output Rebound Hopes Recede
...her operators the space to hike output. Oman’s upstream optimism received a boost in 2017 with the discovery of the Khazzan tight gas field in Block 61 (BP 40%op, OOC 30%, PTTEP 20%, Petronas 10%). Sparking a gas renaissance in the Sultanate, the completion of the Ghazeer development lifted ca...
Volume: 66Issue: 44Published at Fri, 03 Nov 2023 -
DME Looks To Build On Momentum Into 2024
...utinely exported to China (see chart 1). Despite China’s dominance as an end-destination, trading on the exchange is conducted by a broad range of global participants. BACK TO THE FUTURE For DME Oman, the period 2017-18 was its heyday, during which all records for activity were set. Ho...
Volume: 66Issue: 43Published at Fri, 27 Oct 2023 -
Crescent Activates Iraq Contracts, Targets 250mn cfd In 18 Months
...wer Plant through a 24 inch pipeline.” The executive adds that supplying the 1GW gas-fired facility was agreed with state firm Midlands Oil Company, “with a focus on delivering much needed gas for power generation.” The 700MW plant built in 2017 houses four 180MW GE GT13E2 gas turbines, and was bu...
Volume: 66Issue: 42Published at Fri, 20 Oct 2023 -
Qatar Breaks Ground On Historic LNG Expansion Project
...eld. These figures stand to be turbocharged by the expansion project. The critical importance of Qatar’s LNG exports to the global economy was also pivotal in enabling the emirate to withstand the 2017-2021 embargo imposed by many of its neighbors. Saudi Arabia and the UAE could not realistically pu...
Volume: 66Issue: 40Published at Fri, 06 Oct 2023 -
Qatar Signs 10-Year Naphtha Deal With Marubeni
...wnstream investments leading to the inauguration of Qatar’s first three export trains in 1996 (MEES, 28 July 2017). However, the contract for Qatargas 1 expired in January 2022, with Marubeni losing its stakes in the project. More recently Marubeni has invested in regional renewable energy projects. Th...
Volume: 66Issue: 39Published at Fri, 29 Sep 2023 -
Egypt Independent Cheiron Eyes Regional & Local Expansion
...CUS Cheiron’s local expansion beyond the Gulf of Suez legacy area started in 2017 with the purchase of a 50% (later increased to 80%) share in the Western Desert’s North Bahariya concession and the purchase of French firm Engie’s West El Burullus project in the shallow waters of the Mediterranean, no...
Volume: 66Issue: 38Published at Fri, 22 Sep 2023 -
Oman Gas Networks: Expansion In The Pipeline
...derway or planned projects to expand the capacity of pipelines to meet existing and upcoming gas-fed projects along the sultanate’s coast. Oman’s gas sector took off in 2017 with the startup of the BP-operated Khazzan tight gas field, with the second phase Ghazeer development boosting capacity to 2bn cf...
Volume: 66Issue: 38Published at Fri, 22 Sep 2023 -
Shell Spuds Key Mauritania Wildcat
...scovery, the Chinguetti field which produced from 2006 to 2017. Shell entered Mauritania when it signed up for the C10 permit in 2018 (MEES, 27 July 2018), and in February signed up for a second permit, C2. QatarEnergy farmed in for a 40% stake in March (MEES, 7 April), whilst state firm SMH retains it...
Volume: 66Issue: 38Published at Fri, 22 Sep 2023 -
Germany’s Covestro Confirms Adnoc Takeover Talks
...quisitions. In 2017 it launched an aggressive $109bn downstream investment strategy, within which it set a target of more than tripling petrochemicals capacity to 14.4mn t/y by 2025 (MEES, 1 December 2017). While Adnoc has not outlined any new target figure, it is clear that the firm is pushing to go far be...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Oman’s OQ In $1.4bn Upstream Sell-Off
...en highly active at Block 60 in recent years. Output increased by 12,000 b/d year-on-year to a record 61,000 b/d for 1H 2023. The gains were driven by the Bisat oil field which was first discovered in 2017 and now has production capacity of 60,000 b/d (MEES, 27 January). Conversely, gas was down from 35...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Eni Spuds Key Morocco Wildcat
...ast (see map). MOROCCO GAS EXPLORATION & INFRASTRUCTURE Though the well, spudded by the Topaz Driller jackup in 100ms water depth, is the first since the block was awarded to Eni in 2017, both Portugal’s Galp and UK independent Cairn drilled nearby wells la...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Sonatrach Cuts Flaring As New Processing Plant Starts Up
...ripheral fields is perhaps 300,000 b/d. Plans to bolster output have taken two forms: the tie-in of peripheral fields, and increased use of advanced recovery. HGA ticks both boxes. The plant, delivered by India’s Dodsal under a $1.08bn 2017 EPC contract, processes output from several satellite fi...
Volume: 66Issue: 37Published at Fri, 15 Sep 2023 -
Iran’s Oil Exports At Post-Sanctions Record
...NDENSATE. ^SEIZED CARGOS. ^^MOSTLY TO CHINA SINCE 2018. SOURCE: KPLER (2017-18), UANI (2019>), MEES. Unlike in the pre-sanctions era, Iran is overwhelmingly reliant on China for its exports, to the tune of 85% in volume terms for 8M 2023 and likely substantially more in revenue terms given that ca...
Volume: 66Issue: 36Published at Fri, 08 Sep 2023 -
RAK Strikes Gas At Block 5
...ocessed volumes from Saleh. Khor Khwair has also previously processed gas from Oman’s nearby Bukha and West Bukha fields, until the sultanate commissioned its Musandam gas processing plant in 2017. Khor Khwair has also processed volumes from the nearby Umm al-Quwain gas field, where Norwell Engineering la...
Volume: 66Issue: 36Published at Fri, 08 Sep 2023 -
Kuwait Steps Up Offshore Exploration With Arrival Of Second Drilling Rig
...ploration work was a 3D seismic survey of the Kuwait Bay area which was completed in 2017. RETURN OF THE RIGS It is notable that the Oriental Phoenix’s first well was drilled on the eastern flank of Kuwaiti waters close to the undemarkated border with Iran. For one thing, this location is di...
Volume: 66Issue: 35Published at Fri, 01 Sep 2023 -
Oman LNG Close To Sold Out With New OQ & Shell Sales Deals
...tlook for Oman’s LNG exports was in doubt amid rising domestic gas demand and an uncertain production outlook. The 2017 startup of the Khazzan tight gas development changed all this, with capacity from Khazzan and the second-phase Ghazeer now standing at 2bn cfd. The successful project encouraged IOCs to...
Volume: 66Issue: 35Published at Fri, 01 Sep 2023 -
Lebanon Hooked On Diesel Imports Amid Financial Crisis
...shington earlier this year for “importing tainted fuel, causing significant harm to Lebanese power plants.” Interestingly, between 2017 and 2020 Lebanon’s fuel oil shipments originated mainly from the United States followed by several European countries including Belgium, Netherlands, and Spain. Ga...
Volume: 66Issue: 35Published at Fri, 01 Sep 2023 -
Saudi Aramco Gas Output Leaps In Q2
...elds) and the more modest 75mn cfd Midyan plant in 2017. In order to be better able to meet domestic demand during peak periods, Aramco has also commissioned the Hawiyah Unayzah Gas Reservoir Storage facility. Aramco injects gas into the facility during low-demand periods, and once fully operational it...
Volume: 66Issue: 32Published at Fri, 11 Aug 2023