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Mideast Distillate Exports Drop Amid Global Shortfall
...ower pace than envisioned by the IMF in January (MEES, 22 April) – and demand therefore rising, distillate crack spreads have widened dramatically. Inventories have been declining since mid-2021 “and are currently at their lowest level since at least 2017,” according to a 12 April note by consultancy FG...
Volume: 65Issue: 17Published at Fri, 29 Apr 2022 -
Saudi Crude Exports At 22-Month High As Crude Burn Falls
...bruary, the highest since August 2019 whilst fuel oil production rose to 524,000 b/d for the highest since August 2017. This comes as Saudi gradually ramps up throughputs at its 400,000 b/d Jazan Refinery which is currently running at half capacity prior to full operations later this year. However, it is un...
Volume: 65Issue: 16Published at Fri, 22 Apr 2022 -
Egypt Oil Burn Rises As Gas Exports Maxed
...art). Egypt slashed fuel oil burn at its power plants following the end-2017 start-up of the giant Zohr offshore gas field (see p3 and MEES, 15 December 2017) and the 2018 start-up of 14.4GW of CCGT capacity (MEES, 27 July 2018). Fuel oil burn fell to an average of just 35,000 b/d for 2020 and 22...
Volume: 65Issue: 16Published at Fri, 22 Apr 2022 -
Saudi Arabia’s Oil Export Revenues Jump To Three Year High
...salination. Combined crude burn and fuel oil consumption (the majority of which is burned) dipped slightly last year from 1.02mn b/d to 1.00mn b/d, but this was still the second highest annual figure on record. Since 2017, fuel oil burn has outstripped crude burn. But while fuel oil consumption dropped by 5% la...
Volume: 65Issue: 08Published at Fri, 25 Feb 2022 -
Iran Targets 3.5mn b/d Refining Capacity
...ocessing facilities at Assaluyeh. The facility was one of the key projects awarded after sanctions were lifted in 2016. A heads of agreement (HoA) for a $3bn deal to construct the facility was signed with Korea’s Hyundai Engineering and Construction, Daelim, and Japan’s Chiyoda in 2017, with estimated co...
Volume: 65Issue: 04Published at Fri, 28 Jan 2022 -
Iran’s First Super Heavy Refinery Opens At Qeshm
...th a gross tonnage of up to 70,000 tons can dock on one side and 7,000 GT vessels on the other. PEDC has also been developing a 500MW combined cycle power plant to provide the refinery with power. The first 85MW has been operational since 2017-18, and work is underway to bring it up to full 500MW ca...
Volume: 65Issue: 03Published at Fri, 21 Jan 2022 -
Iraq’s 2030 ‘Sustainable Transition’ Plan: Gas & Renewables To The Fore
...newables by 2030, and 2.3bn cfd of additional gas processing capacity by 2026. The ministry of oil has an even more ambitious gas plan to add 2.49bn cfd of gas processing capacity by 2027 and to achieve zero flaring by 2030 as per a 2017 pledge made to the World Bank. Details of these plans were ou...
Volume: 64Issue: 48Published at Fri, 03 Dec 2021 -
Kuwait Commissions Final CFP Refinery Upgrade Units
...ns can now be expected to rise to their highest level since 2016-17’s 821,000 b/d, before the April 2017 closure of the aged 200,000 b/d Shuaiba refinery (MEES, 31 March 2017). FOCUS ON QUALITY KNPC CEO Waleed al-Bader says the project is a “historic milestone” that will allow the “op...
Volume: 64Issue: 39Published at Fri, 01 Oct 2021 -
Aramco Trading Caught In Crossfire Of UAE-Saudi Rivalry
...ding, its presence in Fujairah, it would be the second time in less than five years that geopolitical developments have impacted the emirate’s role as a regional hub. The UAE’s participation in the Qatar embargo from 2017 until January this year prevented Qatari vessels from calling at Fujairah. The up...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
India’s Reliance Signs Up To Key Abu Dhabi Downstream Project
...gn up to a ‘world-scale’ project. In 2017, Adnoc announced plans to more than triple its petrochemicals capacity to 14.4mn t/y by 2025 (MEES, 1 December 2017). As well as expanding its petrochemicals facilities, Adnoc is also working to move further along the value chain through the production of mo...
Volume: 64Issue: 26Published at Fri, 02 Jul 2021 -
Kuwait Completes Clean Fuels Upgrade With Hydrocracker Installation
...mbined CDU capacity at the two refineries has been increased by 8.8% from 736,000 b/d to 801,000 b/d, while Kuwait also shuttered the ageing 200,000 b/d Shuaiba refinery in March 2017 (MEES, 31 March 2017). Not just is the combined capacity of the two adjacent refineries increased, but the CFO will en...
Volume: 63Issue: 23Published at Fri, 04 Jun 2021 -
Saudi Crude Exports Tumble To Ten-Year Lows Amid Deeper Cuts
...proximately 60% of the liquids burned for power generation and water desalination, with crude oil accounting for approximately 40% (see chart 3). This is broadly in line with recent trends, with fuel oil having accounted for more than 50% on an annual basis since 2017. 1: SAUDI CRUDE EXPORTS FELL TO TH...
Volume: 64Issue: 20Published at Fri, 21 May 2021 -
Homs Refinery Fire Sheds Light On Syria’s Murky Fuel Markets
...stribution. HTS itself is accused of being a covert branch of Al-Qaeda and has been labelled a terrorist group by, amongst others, the US and Turkey. Reported to be established in 2017 by a group of Syrian businessmen living in Turkey, Watad receives oil shipments from Turkish suppliers who deliver it to th...
Volume: 64Issue: 19Published at Fri, 14 May 2021 -
Israel Oil Demand Falls To 9-Year Low Amid Record Imports
...porting ‘banned’ supplies, especially if this can be achieved at a hefty discount. During Libya’s geopolitical chaos of 2016 and 2017 where factions competed to sell crude by any means possible, Israel took several cargoes. And volumes from ‘Egypt’ (with which Israel of course has diplomatic relations) ha...
Volume: 64Issue: 14Published at Fri, 09 Apr 2021 -
Dubai’s Enoc Imports Qatari Condensate, But Iran Remains The Missing Piece
...loaded 712,000 barrels of deodorized field condensate (DFC) from Qatar’s Ras Laffan at Dubai’s Jebel Ali on 5 March. This was the first such cargo since September 2017. Supplies of Qatari condensate for Enoc’s Jebel Ali splitter had been halted ever since due to the UAE’s participation in the embargo of...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Adnoc & Petronas Ink Wide-Ranging Partnership Deal
...reements were reached during the visit to the UAE of Malaysian Prime Minister Tan Sri Muhyiddin Yassin. Trade relations between the two countries are on the rise, although they’ve not been without their turbulence. Abu Dhabi state firm IPIC, which was merged into Mubadala in 2017, was previously embroiled in...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021 -
Egypt Downstream: ERC Boosts Output & Exports To 2020 Records Despite Covid Slump
...4,000 b/d, and overall oil demand was down 13% at 605,000 b/d, a 14-year low (see chart 3). Fuel oil fell the furthest, to just 34,000 b/d, a fifth of 2017 levels, as the country’s gas surplus (MEES, 12 February) enabled the all-but ending of the burning of fuel oil in power plants (see p15). *Last ye...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Saudi Arabia’s Oil Sector In 2020: Assessing A Tumultuous Year
...amco began ramping up operations at the 400,000 b/d Yasref JV refinery in 2015 (MEES, 9 January 2015). Domestically, demand for refined products had already been trending down after peaking in 2017 due in large part to the reduction of subsidies on gasoline and diesel in recent years. Gasoline de...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Oman 2020 Refining: Output Down, Exports Up, Jet Crashes
...Oman’s two refineries, 197,000 b/d Sohar and 106,000 b/d Mina al-Fahal, saw a second consecutive dip year-on-year in key products yields in 2020 though volumes remain well ahead of pre-2018 levels. The Sultanate saw a major capacity boost when Sohar was upgraded in 2017 (MEES, 23 February 20...
Volume: 64Issue: 05Published at Fri, 05 Feb 2021 -
Iraq Baiji Refinery Sees Restart Of Second CDU
...th Mosul and other parts of northern Iraq liberated from the Islamic State in 2017, demand for electricity (powered by fuel oil) and transport fuels has skyrocketed, leading to significant shortages. Furthermore, the 140,000 b/d additions from the two restored Baiji units help Iraq keep its costly im...
Volume: 64Issue: 02Published at Fri, 15 Jan 2021