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Qatar: Oil & Gas Revenues Edge Up But Hit By Ratings Downgrade
...drocarbon exports have got off to a strong start in 2017 with Q1 revenues up some 25% year-on-year at $13.8bn (see charts 1 & 2). But ratings agency Moody’s swiftly took the shine off of this by downgrading Qatar’s sovereign rating one notch to Aa3 on 26 May. RAS LAFFAN REVENUE BOOST Th...
Volume: 60Issue: 22Published at Fri, 02 Jun 2017 -
Qatar Eyes 2.5gw Gas-Fired Power/Desalination Project
...mestic gas requirements will be met by the much-delayed Barzan development within the North Field. This is due online in 2017 and intended mainly for domestic consumption (MEES, 7 April). Barzan and the first post-moratorium development are each expected to deliver 2bn cfd of raw gas for processing in...
Volume: 60Issue: 22Published at Fri, 02 Jun 2017 -
Iraq Looks To Get Savvy On Crude Trading
...pand it to another company, maybe with shipping for example, or with storage.” Somo has simultaneously started selling Basra Light volumes on the Dubai Mercantile Exchange (DME). Its debut auction of 2mn barrels on 28 April was a success, with an unnamed Asian buyer purchasing the June 2017 cargo at...
Volume: 60Issue: 21Published at Fri, 26 May 2017 -
Iraqi Coffers Reap Reward Of Higher Oil Prices
...Iraqi crude export revenues in the first four months of the year are up 75% year-on-year as significantly higher oil prices have more than offset a slight dip in volumes. January-April revenues totaled $18.9bn in 2017, against $10.8bn last year and $15.9bn in 2015, although they are well be...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Germany Q1 Crude Imports: Libya Boost Raises Opec Share
...• Russia remained the dominant supplier of crude oil to Germany in the first quarter of 2017 according to the latest imports figures (see table), but the Opec share was up year-on-year, boosted by an increase in supplies from Libya. • An average 705,000 b/d of crude arrived in Germany fr...
Volume: 60Issue: 19Published at Fri, 12 May 2017 -
Asian LNG Imports Soar In Q1; Qatar, Australia Vie For Market Share
...LNG imports by the top three global buyers – Japan, Korea and China – all rose annually in Q1 2017 due to a combination of colder weather and growing appetite for the cooled fuel in China versus piped gas supplies from Central Asia. As buyers have more supply sources at their disposal – es...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Oman LNG Records Rare Output Rise, But Revenue Falls Regardless
...cent levels. Any continued recovery, and there has been in the first two months of 2017, is likely to be relatively modest. Slow demand growth and the onset of fresh supplies from competitors such as Australia will extend the current supply glut for the next few years. EXPORT DESTINATIONS IN...
Volume: 60Issue: 15Published at Fri, 14 Apr 2017 -
Libya’s East-West Divide Flares Up Amid Oil Port Fighting
...me by. LIBYA’S 2017 OUTPUT TARGETS BY JV (‘000 B/D) ^ACTUAL JAN-FEB OUTPUT WAS 680,000 B/D. SOURCE: NOC. NOC SPLIT RENEWED On 14 March an LNA spokesman said that a decision over control of the oil terminals would not be reached before they had been inspected by Naji al-Ma...
Volume: 60Issue: 11Published at Fri, 17 Mar 2017 -
Algeria’s LNG Sales Shrink Further, Piped Gas Jumps 49%
...t/y) Start End Import Country Comments Eni 1.33 1997 2017...
Volume: 60Issue: 09Published at Fri, 03 Mar 2017 -
Qatar Looks To Cement Role As Pakistan’s Top LNG Supplier
...come online in December 2017. PAKISTAN LNG IMPORTS MARCH 2015* TO JANUARY 2017 ('000 TONS)… *PAKISTAN BEGAN IMPORTING LNG IN MARCH 2015. ^NOT LNG PRODUCERS, IMPLIES RE-DIRECTED CARGOES. SOURCE: CEDIGAZ LNG SERVICE. … QATAR SUPPLIED 75% OF 2016 VOLUMES (MN T)...
Volume: 60Issue: 07Published at Fri, 17 Feb 2017 -
Egypt Secures 2017 LNG Needs
...Cairo moved this week to lock-in its gas needs for 2017 by signing a deal to take up to 45 LNG cargoes from Russian state oil giant Rosneft, France’s Engie and Oman state refiner Orpic’s commercial arm OTI, in a deal worth $1bn according to Oil Minister Tarek El Molla. This adds to the 12...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
LNG: Australia Soars Past Qatar As #1 In East Asia
...pectation has to be that prices will again fall back with winter buying now over – especially seeing that key spot buyer Egypt now appears to have filled its 2017 requirements (see p5). ASIA’S ‘BIG 3’ see collective LNG IMPORTS rise 3.5% IN 2016 ON LATE-YEAR BUYING SURGE (MN TONS) SOURCE: IM...
Volume: 60Issue: 06Published at Fri, 10 Feb 2017 -
Egypt Hopes To Restart LNG Exports By 2020: Where Will The Gas Come From?
...e end of 2017 according to local daily Al-Borsa. This comes after state-oil firm EGPC was forced to pay some $480mn towards the bill, costs that were originally to have been covered by LNG exports. But MEES understands Shell is far from happy with the Egyptian authorities as it has failed to fo...
Volume: 60Issue: 02Published at Fri, 13 Jan 2017 -
Sharara Restart Pushes Libyan Output Close To 700,000 b/d
...oduction to around 950,000 b/d by early April, are a slightly delayed version of NOC’s more recent plan to increase output to 900,000 b/d by the end of 2016 and to 1.1mn b/d by the end of 2017 (MEES, 18 November 2016). Mr Sanalla is now targeting output of an even more ambitious 1.2mn barrels by the end of th...
Volume: 60Issue: 01Published at Fri, 06 Jan 2017 -
Qatar Gets Flexible In Bid To Adapt To Brave New LNG World
...apt to this new world LNG order. As of end-2015 Qatar was the world’s largest LNG producer with 77mn tons/year of liquefaction capacity. But it will be overtaken by Australia during 2017 and likely by the US early next decade (see table 1). Since 2005 it has had a moratorium on new development of...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Eni Forces Sonatrach Gas Sales Concessions
...eakeven on our Gas and Power business, as we promised in 2017,” he adds. The renegotiated agreement covers almost 20% of the gas imported into Italy and is another step in Eni’s adjustment of its long-term gas supply contracts and optimizing costs in its gas and power unit, the company says. The deal fo...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
US Hikes 2017 Output Forecast As Firms Prepare To Raise Spending
...tlook for 2017 US crude output was looking bleak midway through 2016 as oil majors and oilfield services firms cut back on spending. But with oil prices now above the $50/B mark, the EIA has raised its forecasts for next year’s output. The US government agency’s latest Short Term Energy Outlook, re...
Volume: 59Issue: 49Published at Fri, 09 Dec 2016 -
Traders Clean Up In Egypt LNG Import Tender
...is is almost 25% higher than the latest spot purchase price – $6.10/mn BTU for November – paid by leading global buyer Japan (MEES, 11 November). MEES understands that Q1 2017 cargoes have been awarded at a slope of 14-15% to Brent and 12% over the remaining cargoes. FSRU DELAY Oil Mi...
Volume: 59Issue: 48Published at Fri, 02 Dec 2016 -
Taiwan’s LNG Imports Boosted As Government Plans To Exit Nuclear
...G 6.9mn tons/year plant since its 2014 start-up under a 20-year contract for 1.2mn t/y. The company has also committed to buy 1.75mn t/y under a 15-year contract from the 8.4mn t/y Ichthys LNG in Western Australia which is scheduled to come onstream in 2017. It will also be receiving volumes fr...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
GE Takeover Of Baker Hughes To Create Services #2
...ergy, water, aviation and digital sectors. By 2017 GE and SAIIC plan to spend $1bn on projects with Saudi and international firms in support of the Saudi Vision 2030 economic diversification program (MEES, 27 May). GE/BAKER HUGHES TO LEAPFROG HALLIBURTON AS GLOBAL SERVICES #2 ($BN Q1-3 16 RE...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016