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Global LNG: China Challenges Japan As Top Importer
...certainties suggests that Japan is likely to retain top spot for 2020 at least. *China’s 2019 gains are well down on 2018’s whopping 40%. Indeed, the key winter for the coal-to-gas heating switch was 2017-18. Year-on-year gains in LNG imports peaked at 59% in Q1 2018 and have fallen in every quarter si...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Gulf States Call For De-Escalation Of Regional Tensions
...ES, 8 December 2017). Saudi Arabia’s deputy minister of defence Khalid bin Salman – brother of de facto leader Muhammad bin Salman – wrote on Twitter on 8 January that “the Kingdom and its leadership always stand with brotherly Iraq and its dear people,” adding that Saudi Arabia “will do everything in...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Egypt: BP’s Raven Delayed
...re brought online in March 2017 but saw output rapidly decline, falling from 640mn cfd for 2017 to 380mn cfd for 2018 (MEES, 15 March 2019). BP hopes overall WND plateau output will reach 1.4bn cfd once all three phases are brought online. This equates to 22% of Egypt’s current 6.3bn cfd gas ou...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Tunisia Gas Output At Record Lows
...the region, implements a 2017 agreement to over pay and working conditions. ...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
US LNG Exports Hit New Record
...ns for 11M19, already well ahead of 2018’s annual record of 2.35mn tons) a clear second. China, with 1.99mn tons was the US’ second largest overseas market in 2017 after South Korean) volumes collapsed in the second half of 2018 with the onset of a still-ongoing trade dispute; just four cargoes sa...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Taqa Completes $3.5bn Refinancing
...ter oil prices collapsed in 2014. This focused on cutting capital expenditure and reducing debt (MEES, 17 November 2017). Taqa’s main business segments are power and water, mainly in the UAE but also internationally, as well as upstream oil and gas. Upstream Taqa has producing operations in Iraqi Ku...
Volume: 63Issue: 02Published at Fri, 10 Jan 2020 -
Iraq Books Record Exports In 2019, Plans To Advance Jordan Pipeline In 2020
...s taken center stage, with widespread accusations of corruption against key ministries including the oil ministry. In any case bureaucratic inefficiencies (among other things) have limited government spending particularly on much-needed infrastructure, enabling Baghdad to run budget surpluses in 2017...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Israel’s Leviathan: Deliveries Start, Controversy Remains
...viathan in 2010 but struggled for years to get the sales deals in place to support even Phase-1 development under which output is slated to hit 1.2bn cfd later this year. It finally took FID in 2017. Noble has 39.67%, partnered by Israeli firms Delek (45.33%) and Ratio Oil (15%)....
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Ground-Breaking Mena Power Plants Due Online In 2020
...id as well as to power the mining and processing operations. Estonia’s Eesti Energia is lead developer, but sold part of its stake to China’s coal power plant operator Yudean to secure Chinese financial backing (MEES, 28 April 2017). Much of Kuwait’s recent power capacity expansion has been ad...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Oman: Petrofac Bags PDO Awards
...tegrated oil and sour gas project. At the Mabrouk NE project – one of Oman’s more exciting new developments – Petrofac signed a 10-year framework agreement in 2017 and was awarded a pipeline construction deal there in June (MEES, 14 June 2019). The newest EPC contract covers a 34-month development of 16...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Egypt Nuclear Award
...th Rosatom in late 2017 to go ahead with the project. The first reactor is scheduled for start-up in 2026 and all four are expected to be fully operational in 2029. Construction of the first reactor is expected to begin in 2020. Dabaa will mainly be funded by a $25bn loan from Moscow covering 85% of th...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Algeria To Italy Gas: 2019 Slump, December Leap
...LUMES WERE STILL LITTLE MORE THAN HALF 2016 & 2017 LEVELS (BCM) SOURCE: SNAM RETE GAS, MEES. ...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
Kuwait Scraps 2020 Target But Minister Reappointment Offers Rare Continuity
...thin the next five years,” so 3.10mn b/d is at least a more concrete target (MEES, 30 August). Underlining the scale of the reduced ambition, this new 2020 target is less than KOC’s capacity in 2017-18 (to end-March), of 3.15mn b/d. Former KOC CEO Jamal Jaafar put capacity even higher at 3....
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Egypt Oil Output Continues Slump
...While Egypt is being forced to limit its gas output (see above), it is a completely different story for oil , with production falling to 615,000 b/d for October, the sixth consecutive monthly decline to the lowest level since March 2017. Egypt’s official target of reaching 690,000 b/d by June ne...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Saudi Arabia Adds Record Volumes To Crude Stocks
...anwhile, refining runs fell to 2.20mn b/d, their lowest level since January 2017. At 21.3% of Saudi Arabia’s reported production, the proportion refined is the lowest since 2016. Run rates had been above 25% since 2017 as the kingdom ramped up throughput at its expanded refinery fleet. Rates may well rise fu...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Kuwait Clean Fuels Progress Impacts Refining Output
...e highest since mid-2015, suggesting a new, or revamped, gasoline unit is operating (see chart). However, average total products output of 864,000 b/d during the first 10 months of 2019 is only 3% down from the 891,000 b/d for both 2017 and 2018, showing that CFP work to the end of October has no...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Qatar Budget Surplus To Shrink In 2020
...wards a $4.9bn surplus, although lower H2 oil prices could ultimately bring this down. Following on from 2018’s $4.1bn surplus, the 2020 budget sets the scene for a third consecutive surplus. However, even the combined surpluses over 2018-20 fall short of the deficit that Doha racked up in 2017 al...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Saudi Fund Pledges SME Support
...F initially announced it would create Jada in 2017, saying that it would create 2,600 jobs and contribute SR400mn ($107mn) to GDP by the end of 2020 – twelve months from now. Boosting the role of the private sector is one of the central tenets of Crown Prince Muhammad’s Vision 2030. But this has pr...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Iran Hands Farzad B Field To Petropars
....7tcf Farzad B field. Indian firm ONGC Videsh had long been interested in developing the field (MEES, 6 January 2017), but the return of US sanctions last year halted negotiations. Petropars is also the sole firm tasked with developing the 2bn cfd South Pars Phase 11 project following the withdrawal of...
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019 -
Jordan Starts Up Risha Solar
...cal private-sector firm Yellow Door Energy, with the capacity slated to be split between seven sites. Nepco says the Risha plant will deliver around 115GWh of electricity a year. When the power purchase agreement was signed in late 2017, Acwa said it had offered electricity at a cost of US¢5....
Volume: 62Issue: 51-52Published at Fri, 20 Dec 2019