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Egypt Gas Hub Ambitions Gather Pace
...d LNG import bill which came to $10.3bn in 2017. Since receiving its first cargoes in April 2015 the bulk of the LNG Egypt received was in 2016, when imports totaled 979mn cfd of gas, some 20% of the country’s total gas consumption – which would in turn have been higher had more gas been av...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Iraq: Record Oil Exports, Revenues At 6-Year High
...which appear on the cards but cannot be discounted – full year revenues are set to total around $87bn. This would be a 46% increase on 2017’s $59.5bn and the highest figure since 2013’s $89.2bn (see chart 2). DIVERSE EXPORT SLATE Iraq has a relatively broad slate of crude buyers, al...
Volume: 61Issue: 40Published at Fri, 05 Oct 2018 -
Abu Dhabi Awards Contract For Offshore Gas Boost
...tar – despite the ongoing embargo – to meet demand. 2017 was a positive year for the UAE’s gas sector, with production edging up above 60bcm for the first time according to BP’s Statistical Review of World Energy. Meanwhile consumption had a rare annual dip from 72.5bcm to 72.2bcm. But this still en...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Abu Dhabi Field Startup Paves Way For New Crude Grade Launch
...om Abu Dhabi’s onshore fields. Reuters reported this week that marketing of the new grade is to begin imminently, with exports slated to begin in November. The new grade had originally been slated for Q1 launch (MEES, 17 November 2017). The UAE exported 2.38mn b/d in 2017, of which 98.6% went Ea...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Iraq’s 200,000 b/d Halfaya Boost: Is There An Outlet?
...has missed its 2017 target. Production is then to be kept at this level for 16 years. Despite concerns over delayed payments in recent years – that have now been allayed – the field partners greenlit Phase-3 development in early 2017 (MEES, 28 April 2017). Halfaya was already the largest pr...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Qayara Production Resumes
...nsidering quitting Qayara and the nearby Najma field even before being forced out by IS in early 2014. Nevertheless, Oil Minister Jabbar al-Luaibi invited Sonangol to resume operations at Qayara and Najma in January 2017 and the firm officially agreed to return in February (MEES, 9 February). The mi...
Volume: 61Issue: 39Published at Fri, 28 Sep 2018 -
Kuwait Gets Jurassic Gas Boost, Eyes Further 2020 Gains
...a more-conciliatory parliament in 2013 helped unlock key projects and contracts for the three EPFs were awarded in 2016 (MEES, 28 July 2017). IMPORTS RISE DESPITE GAS GAINS Prior to the first EPF startup in January, Kuwaiti gas output was around 1.7bn cfd – overwhelmingly gas associated with oi...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Iraq: Soaring Domestic Oil Demand Will Test Next Government
...els that are in high demand, with consumption of fuel oil consistently running at record highs since December 2017. Consumption has averaged 291,000 b/d so far in 2018, against 200,000 b/d over the same period last year, as Iraq has turned to fuel oil over crude oil for power generation. Crude burn ha...
Volume: 61Issue: 38Published at Fri, 21 Sep 2018 -
Egypt Gas Output At Record High As Zohr Hits 2BN CFD
...of 8 September “Zohr is now producing 2bn cfd” with this achieved not only under nine months from project start-up (MEES, 15 December 2017) but a year ahead of schedule. Plateau volumes “in excess of 2.7bn cfd” are slated to be hit next year. MEES estimates that as a result Egypt Mediterranean ou...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Israel Reviews Upstream Rules: Too Little, Too Late?
...rael since 2013. And after last year’s flopped bid round where cash-strapped Greek firm Energean was the main ‘winner’ (MEES, 15 December 2017) – there is little sign of an uptick. Israel saw the discovery of 33tcf of gas between 2009 and 2012 with a total of 19 exploration wells drilled. But, with th...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
KRG: Shaikan Oil Field On The Up With Investment Splash...
...tput has fallen 23,000 b/d year-on-year from 109,000 b/d in July 2017 to 86,000 b/d. The partners’ recent focus has been on fast-tracking the neighboring Peshkabir field which is also within the Tawke block and where output hit 35,000 b/d last month (MEES, 31 August). A Genel presentation this week sh...
Volume: 61Issue: 37Published at Fri, 14 Sep 2018 -
Oman Eyes Exciting Oil Potential As Production Limits Ease
...ec+ deal, output has edged up in 2018. Mr Rumhy put the reduction from the November 2016 record at “around 40-45,000 b/d,” although if anything this is a conservative estimate with November 2017’s 963,000 b/d more than 50,000 b/d below November 2016’s 1.015mn b/d and 7,000 b/d below Oman’s allocation of...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Oman Eyes LNG Expansion As It Deals With Newfound Gas Abundance
...an’s LNG exports had been in doubt; Mr Rumhy says the Sultanate had considered turning to LNG imports in addition to the 2bcm/y it already imports from Qatar at discounted rates through the Dolphin pipeline. Oman’s eight LNG customers for 2017 imported a collective 8.24mn tons (the discrepancy with ex...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Iraq Crude Exports Smash Record As Protests Grip Basra
...likely that a substantial increase would be sustainable (MEES, 6 July). Iraq previously ramped up southern exports in late 2017, culminating in a record 3.53mn b/d in December. But the pressure took its toll and by April volumes were down at 3.34mn b/d as the ageing pipeline to the decrepit Khor Al-Am...
Volume: 61Issue: 36Published at Fri, 07 Sep 2018 -
Kurdistan Oil Sector Outperforming Expectations in 2018
...With Iraqi Kurdistan set for parliamentary elections on 30 September, politicians can at least point to a modest rebound in crude output this year. But revenues remain well below 2017 levels. The first eight months of 2018 have seen a much-needed return of upstream activity in the KRG, he...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Aramco Advances Gas Development Agenda As IPO Plans Fade Further
...Saudi Aramco highlights prioritization of gas development and enhanced flexibility in the firm’s 2017 Annual Report. Few words were reserved for the planned IPO, hardly a surprise as the long-suffering process appears to have finally been killed off. Saudi Energy Minister and Aramco Ch...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Chevron’s Basra Deal
...chnical services contract (TSC) which have deterred foreign firms’ interest for years (MEES, 22 September 2017). Iraq Oil Report writes that the agreement will see Chevron study and potentially increase production at Luhais, Tuba, and Subba fields—all of which are state-run. BOC-operated Luhais and Tu...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Libya: Fractured Institutions Fail To Distribute Oil Revenue Gains
...e 10,000 b/d Hamada field in the southwest. Production from the Eni-operated El Feel (Elephant) field is back at current capacity of around 77,000 b/d having been shut since 23 February due to a dispute over salaries (MEES, 10 November 2017). Libya’s largest oil concession, comprising the Sh...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Libya’s Ongoing Institutional Splits
...y 2017). The HOR recognizes Ali Shamekh as LIA head. Libyan Audit Bureau (LAB) • Increasingly significant in setting and monitoring economic policy in Libya, particularly in light of the stand-off between the PC and HOR. Cooperation between the bodies is essential to efforts to turn ar...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Egypt Gas Exploration Focus Shifts East As Output Record Nears
...ison says output here rose in the first half of 2018 thanks to new wells added in late 2017. Three further wells were drilled in the first half of 2018. Eni is not the only company to have evidently seen renewed attraction in waters north of Sinai that it had previously abandoned. Anglo-French in...
Volume: 61Issue: 33Published at Fri, 17 Aug 2018