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Morocco Looks To Cut Reliance On Algerian Gas
...Morocco imported 109mn cfd of gas from Algeria in 2016 and Q1 2017, some 93% of the country’s consumption. In theory there is scope for these volumes to rise – gas provides only 6% of Morocco’s primary energy demand. But, in practice, fractious relations between the two Maghreb neighbors – th...
Volume: 60Issue: 26Published at Fri, 30 Jun 2017 -
Total Gives $1bn Impetus To Iran’s Upstream Opening
...meframe was given, but on 10 May, CFO Massimo Mondazzi said “in Iran, we’re going to recover any outstanding [receivables] that we have and this will happen in 2017.” OIL AND GAS FIELDS TO BE OFFERED UNDER THE IRAN PETROLEUM CONTRACT GreenField pr...
Volume: 60Issue: 25Published at Fri, 23 Jun 2017 -
US Shale Output Soars But Permian Productivity Falling
...ODUCTIVITY STEADY DESPITE DOUBLING OF RIG COUNT OVER LAST 5 MONTHS 3: BAKKEN: RIG COUNT REMAiNS AT JUST 20% OF 2012 PEAK *FOR NEW WELLS. SOURCE: EIA DPR, JUN 2017. US SHALE OUTPUT FORECASTS (MN B/D, BY DATE OF FORECAST) 4: OVERALL US SHALE OUTPUT* RE...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Qatar Shrugs Off Restrictions With Continued Oil, Gas Exports
...OVIDE 2017 BOOST (‘000 B/D, NET)… …WHILE QATAR SUPPLIES 82% OF TOTAL’S MIDDLE EASTERN** GAS PRODUCTION (MN CFD) *MEES PROJECTIONS.**EXCLUDES NORTH AFRICA SOURCE: TOTAL, MEES. TOTAL HEADACHE Cosmo has only a modest upstream presence in both countries, but the sa...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
UAE Gas Supplies: Qatar Dependence Remains Despite LNG Diversification
...eraged $7.7/mn BTU in Jan-April 2016, down from $12.97/mn BTU in Jan-April 2015. They averaged $8.03/mn BTU in Jan-April 2017, though have since eased (see chart, p7). LNG IMPORT CAPACITY… The UAE has two LNG import terminals. Dubai has had a 960mn cfd floating storage and regasification un...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Rig Count: Iraq Drilling Resurgent, Saudi Offshore Growth Slow To Materialize
...gs in Iraq (all are onshore oil rigs) hit a 17-month high of 51 in May. Drilling is still well down on 2014’s highs, but has been steadily increasing since the second half of 2016. How much further it will rise in 2017 is unclear as IOCs are still cautious on investment in Iraq. Shell has mo...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Kuwait Brings More IOCs Into Heavy Oil Development
...osting liquids capacity is showcased by the rig count figures provided by US services firm Baker Hughes. Prior to 2017, Kuwait had 40 active oil rigs in just one month, March 2015, but has exceeded this mark in each of the first four months of 2017 (see chart). As heavy oil development accelerates, this sh...
Volume: 60Issue: 22Published at Fri, 02 Jun 2017 -
Iraq Pursues Crude Capacity Gains As Revenues Rise
...is implies southern export capacity of 3.8mn b/d from the Khor al-Amaya oil terminal, Basra Oil Terminal and three single point mooring (SPM) systems. IOC PAYMENT BURDEN DIPS The output deal is paying dividends for Iraq, with revenues on track to rise $10bn to $54bn in 2017 (see chart). Mo...
Volume: 60Issue: 21Published at Fri, 26 May 2017 -
Tunisia: Key Gas Project Faces Further Delays As Unrest Grows
...rget start-up date remained 2017 (see table). Nawara, a project previously flagged up as key to OMV, was totally missing from prepared Q1 results material. The firm’s more detailed May capital markets presentation indicates that the overall project is 77% complete with the 95mn cfd gas treatment pl...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt Gas Boost Cuts Import Needs, But Self-Reliance Still A Distant Goal
...er 70% of total output at the end of 2011 and the beginning of 2012, that share fell to just 38% in Q1 2017 (see chart 4). It’s not just the Eni/BP fields; production at the Shell (ex-BG) West Delta Deep Marine project has fallen even more steeply. ENI/BP OFFSHORE NILE DELTA PRODUCTION (MN CF...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt’s Petchems Boosted By New Gas – But Demand Also Rising
...rea Misr petchems plants this week reported a “stellar performance” in Q1 2017, with revenues up 15% year-on-year to $82.6mn. Alexfert utilization was “north of 100%” with the plant “receiving its full gas allocation.” At the end of 2016 EKH was already “quickly regaining its position” in the global fe...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Egypt Oil Debts Put Brake On Investment
...June. Egypt owed a total of $3.4bn at end-March according to its own reckoning, so, if completed, these two 1H 2017 payments would equate to 44% of the then total. Oil Minister Tarek El Molla says receivables will be halved by the end of the year and eliminated by mid-2019. REGULAR PA...
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Riyadh Refinery Maintenance Set To Conclude
...t still rises seasonally. Jodi data released this week shows that Saudi direct crude burn averaged 280,000 b/d in Q1 2017, down 14% from 327,000 b/d in Q1 2016 (see p9)....
Volume: 60Issue: 20Published at Fri, 19 May 2017 -
Lebanon Bidding Risks Stalling Amid Major Pullback
...ficially listed as qualified as operators (the 12 from 2013, plus Indian state firm ONGC Videsh which was upgraded from ‘non-operator’), only six have actively expressed an interest this time round. LEBANON 2017 BID ROUND BLOCKS LEBANON BID ROUND PRE-QUALIFIERS AS OP...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
BP’s WND Starts Up
...essentially two, with Taurus-Libya developed fast-track using mostly existing infrastructure to “accelerate gas production commitments to Egypt…before peak demand in summer 2017,” BP says. Phase 2 involves the Giza, Fayoum and Raven fields, which will be tied back by two separate 65km 24” tr...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Oil Firms Experience Mixed Start To 2017 In Iraqi Kurdistan
...port from Canadian field partner Shamaran in March said first oil was expected in Q2. Taqa’s Q1 report released 11 May merely says production is expected to begin in 2017, but the firm tells MEES the “export pipeline is nearing completion” and there has been “no deviation” from earlier forecasts. On...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Oil Boost Raises Hopes In Libya, Perhaps Falsely
...bya in the firm’s Q1 results, other than to note the resumption of production, which netted the firm additional profits of €26mn for the quarter. In the firm’s Q4 results it said it is accounting for average net production of only 12,000-13,000 b/d in 2017, implying gross production of about 10...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Algeria: In Amenas Compression Boosts Gas Exports To Highest Since 2012
...untry taking seven-year high volumes of 6.34bcm (2.49bn cfd) for the first three months of 2017, though these volumes fell in April (see chart 4). Spanish import data for the first two months of 2017 show a more modest 12% rise to 3.37bcm in Algerian volumes. BERKINE OIL OUTPUT DOWN Other Al...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Kuwait Eyes New Crude Outlet Within Six Months
...ude exports have fallen below 2mn b/d in the first months of 2017 this is due to the Opec agreement to cut production in the first six months of the year. While Kuwait’s grand plans to increase liquids production capacity around 1mn b/d to 4mn b/d by 2020 look unfeasible, it could still notch up su...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Kuwait Energy Reaps Reward From Iraq Investments
...bsidiary of Dubai state firm Enoc) with 30%, and Egyptian state firm EGPC (10%). KEC’s net output rose from 6,490 b/d in Q4 2016 to 8,030 b/d in Q1 2017. KEC did not provide information on Block 9’s gross output this quarter, but previous statements put the firm’s net share at 60% of the total. This im...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017