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Saudi Arabia Must Look Overseas To Realize Gas Export Dream
...xt 10 years in its bid to boost raw gas production to 23bn cfd by 2026 (MEES, 15 December 2017). CEO Amin Nasser told the Gulf Petrochemicals and Chemicals Association (GPCA) conference in Dubai this week that output currently stands at 14bn cfd. If accurate, this is a substantial increase on the 2017...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Wintershall Joins Eni In Abu Dhabi Sour Gas
...g (MEES, 1 December 2017). No surprise given that it will require “pipelines, islands, wells, you name it. It is a very complex project” according to upstream chief Abdulmunim al-Kindy. Adnoc is confident that its experience in developing the ultra-sour onshore Shah gas field alongside US firm Ox...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Libya Steps Up Drilling
...Zueitina Oil Co. Zueitina in turn groups NOC with OMV after the latter bought out Occidental (MEES, 10 February 2017). Current output is around 30,000 b/d. Occidental and OMV in 2007 had plans to boost production at Nafoora using improved oil recovery techniques. Years of war and political in...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
China Imports: Aramco Claims Ring Hollow As Russia, Iraq Notch Up Record Volumes
...ades [with] Aramco’s Arab Medium crude oil a preferred choice for the plant’s baseload,” Aramco said in an August 2017 press release which commemorated Cnooc taking delivery of its first ever cargo of Saudi crude. This made Cnooc “the last of China’s three large national oil companies to join Saudi Ar...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Israel Bidding: Larger Blocks, More Interest?
...st two bids for six blocks, all located in the country’s northern offshore near existing discoveries (MEES, 24 November 2017). This time the Energy Ministry is grouping the 19 blocks on offer (eight of which were offered in the previous round) into five ‘zones’ – essentially meaning that five la...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
OPEC Faces $200bn+ Question Next Week In Vienna
...rm or test new lows. After Brent settled below $60/B on 23 November for the first time since October 2017, prices have fluctuated either side of the line. The 2016 “Declaration of Cooperation” under which 24 countries (new Opec member Congo was not a signatory) agreed to cut some 1.8mn b/d ex...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
SEC Plans Powergen Subsidiary As Step Towards Break-Up
...stern, central, western and southern regions. SEC was created in 2002 by combining GEC and the regional firms. However, the company has since continued to manage its operations through four regional units, whilst in recent years it has also reported sales revenues on a regional basis. Total 2017 SEC re...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Jordan Wind Awards EPC To Denmark’s Vestas
...velop the project in 2016, they aimed to begin construction in 2017 and to begin delivering electricity from the farm in 2019. But like many of Jordan’s investment plans, financing proved the key holdup. Financial close was only reached in September, with funding coming from the World Bank’s IFC in...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Jordan Energy Goals Remain Hostage To Geography
...xt to zero oil and gas resources, the Hashemite kingdom relies on costly imports for 95% of its energy consumption—a further burden on the country’s stagnant economy. Energy imports cost Jordan $3.42bn (JD 2.45bn) in 2017 up 26% from 2016, and with spending on oil imports alone up 43% for the fi...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Kuwait Launches Refining Expansion Plan, Readies For Clean Fuels Commissioning
...two 300,000 b/d refineries (MEES, 20 April). But it appears Kuwait is opting for one new plant and the expansion of existing ones. KUWAIT REFINING CAPACITY (MN B/D, END YEAR) *ASSUMES CLEAN FUELS PROJECT FULLY ONLINE IN 2019, Al-ZOUR FULLY ONLINE IN 2020. ^SHUT DOWN END-MAR 2017. SO...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Saudi Arabia Bags $118bn Trade Surplus In 9M 2018
...Falling oil prices since October augur Q4 reversal. Saudi Arabia’s export revenues over the first nine months of 2018 are already within touching distance of the full year 2017 figure. The kingdom’s latest trade data shows that export revenues over the period are up nearly 27% ($58.7bn) ye...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Iraq To Keep Up 2019 Asia Exports
...stomers, having also “reviewed purchasing orders from new companies that seem to be qualified to purchase Iraqi crude.” Allocations are nonetheless flexible and subject to change. Whilst Iraq exported only 56% of its crude to Asia in 2017, the portion has grown significantly in recent months. Based on sh...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
Cyprus: Total, Eni Expand
...the south of Block 7, borders Egypt’s 21.5tcf Zohr discovery, though a dry well drilled here last September (MEES, 15 September 2017) may have dampened interest. The two firms’ next planned Cyprus well is an appraisal well at Calypso slated for 2H 2019. Currently drilling is ExxonMobil with it...
Volume: 61Issue: 48Published at Fri, 30 Nov 2018 -
More Pipeline Problems For Israel-Egypt Gas Deal
...lieves enough has changed to merit launching a bid round so soon after last year’s round received bids by just two companies (MEES, 15 December 2017). He believes that Noble’s gas sales deal with Dolphinus proves gas discovered offshore Israel does have export options. He says this deal, coupled wi...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Total Reaps Mena Rewards Despite Iran Setback
...rs gas field Phase 11 and defend its position in the Abu Dhabi offshore ahead of the March 2018 expiry of its 13.33% stake in the Adma concession. Total successfully secured stakes in two of the three concessions that replaced Adma, and has held 40% at Al Shaheen since July 2017. While the return of...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Saudi September Crude Exports At 20-Month High, But A Fall Is Coming
...ready in the works. Refining runs slipped to a five-month low of 2.63mn b/d in September – albeit still higher than any annual average. Meanwhile, crude exports rose to a 20-month high of 7.43mn b/d (since January 2017), up 220,000 b/d month-on-month (see data p7). January 2017’s 7.71mn b/d was the fi...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Libya Crude Export Revenue Set For Six-Year High
...nuary-September is already well above the firm’s $13bn earnings for 2017 as a whole, when export volumes averaged 790,000 b/d (versus 914,000 b/d for 9M18) and Es Sider averaged $52.8/B (versus $70.6/B for 9M18). MEES calculations put nominal gross crude export revenues at $11.36bn for 1H 2018 ve...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Oman Plots OOC-Orpic Merger, Beginning With Downstream Assets
...conventional business” to maximize gains from its geologically complex Oman assets (MEES, 9 November). OOC is looking to replicate its IOC magic once again with Italy’s Eni. The firm entered Oman in 2017 taking operatorship of the massive offshore Block 52 asset with OOC riding shotgun. The Italians are cl...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Saudi Generators Build Capacity Cushion Ahead Of SEC Split
....12GW in 2017 and 61.74GW for the 2018 summer peak. In addition to Saudi electricity demand appearing to have levelled off for now, the generating capacity cushion could prove vital to ensuring supply reliability as SEC – which is owned 74.3% by sovereign wealth fund PIF, 6.9% by state integrated oi...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018 -
Pearl Gives KRG Khor Mor Gas Boost
...The Kurdistan Regional Government’s creative settlement with the Pearl Petroleum consortium in July 2017 is paying dividends (MEES, 13 July). Production capacity at the consortium’s Khor Mor gas field in the region’s southwest was this week boosted 30% from 305mn cfd to 400mn cfd through de...
Volume: 61Issue: 47Published at Fri, 23 Nov 2018