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Egypt: BP Plans Fast-Track El King Development
...2002 by US firm Apache, a BP spokesperson tells MEES. Whilst Apache subsequently walked away, the prospects of commercial development have since been boosted by BP’s nearby West Nile Delta (WND) development, which started up in 2017. The nearest infrastructure at the Giza field is just 20km ea...
Volume: 68Issue: 07Published at Fri, 14 Feb 2025 -
Cheiron Taps Funds For 100mn cfd Egypt Development
...th first gas potentially as early as June, although slippage to H2 is possible, a source at Egypt’s oil ministry says. Engie (formerly Gaz de France), which discovered the field in 2008 (MEES, 9 June 2008), went as far as filing a development plan before selling up to Cheiron in 2017. Ch...
Volume: 68Issue: 07Published at Fri, 14 Feb 2025 -
Qatar Records Fourth Consecutive Budget Surplus For 2024
...20 AND THE LARGEST SINCE 2017 ($BN) *APRIL-MARCH FINANCIAL YEAR UNTIL 2016. SOURCE: MOF, MEES. 2: STATE SPENDING ON PUBLIC SECTOR SALARIES IN QATAR SURPASSED CAPEX FOR THE FIRST TIME IN 2024 ($BN) Graph *APRIL-MARCH FINANCIAL YEAR UNTIL 2016. SOURCE: MOF, MEES....
Volume: 68Issue: 06Published at Fri, 07 Feb 2025 -
Kuwait Upstream Capacity Tops 3mn B/d
...pacity back up from 563,000 b/d in 2020 to 700,000 b/d (MEES, 26 July 2024), though capacity will remain below its 2017/18 peak of 760,000 b/d. Also in northern Kuwait, a boost came from heavy oil reserves, with KOC earlier this month stating that capacity here has hit 90,000 b/d from 75,000 b/d in 20...
Volume: 68Issue: 05Published at Fri, 31 Jan 2025 -
MBS-Trump Investment Pledge Boosts Aramco US LNG Investment Plans
...int venture with Shell. This operated three refineries with a combined crude processing capacity of 1.065mn b/d, but was split up in 2017 with Aramco ending up with a 100% stake in the 600,000 b/d Port Arthur refinery (MEES, 10 March 2017). The Port Arthur plant accounted for 115,000 b/d of Saudi cr...
Volume: 68Issue: 05Published at Fri, 31 Jan 2025 -
KRG: Genel Finalizing Taq Taq Exit
...6,000 b/d in 2015, but it suffered a catastrophic output collapse as geological challenges prompted huge reserve downgrades from 2017 (MEES, 31 March 2017). Output was below 5,000 b/d even prior to the 2023 closure of the KRG’s export pipeline, and Genel opted not to produce from it last year (MEES, 26 Ja...
Volume: 68Issue: 05Published at Fri, 31 Jan 2025 -
Oman Gas Output Surges To Record 54.5bcm For 2024 With Further Expansions Eyed
...e single largest addition to upstream gas output since BP’s massive 1.5bn cfd Khazzan gas field started in 2017. Indeed, the gains at Mabrouk North East – whose output averaged 480mn cfd for 1H 2024 – were more than those for Oman overall, implying that output was cut at other gas fields to make sp...
Volume: 68Issue: 04Published at Fri, 24 Jan 2025 -
BP Spuds Egypt Well As Shell Eyes Higher WDDM Gas Price
...fshore infrastructure was sparse. But that has since changed with BP developing WND which came online from early 2017 (MEES, 12 May 2017). BP’s WND facilities have 1.4bn cfd of gas processing capacity, so there will still be 800mn cfd spare even after the two recent Raven wells are brought online. An...
Volume: 68Issue: 04Published at Fri, 24 Jan 2025 -
Trump’s Twin Desires: Energy Dominance & Low Prices
...rst term started in 2017. The year prior to his first term, liquids exports of 5.26mn b/d were well behind Saudi Arabia and Russia, but they have since doubled and have been running at more than 10mn b/d for the last two years. The US overtook Saudi Arabia in 2020 to seize the crown as the world’s la...
Volume: 68Issue: 04Published at Fri, 24 Jan 2025 -
Egypt Gas Output Boost As BP & Shell Complete Offshore Drilling
...e to imminently begin its own two-well campaign at Zohr in an attempt to add 220mn cfd to the current 1.6bn cfd output (just half of 3.2bn cfd capacity) by mid-2025 (MEES, 10 January). The WND Phase-1 Libra and Taurus fields were brought online in 2017 with Phase-2 Giza and Fayoum joining them tw...
Volume: 68Issue: 03Published at Fri, 17 Jan 2025 -
Syria Scrambles For Fuel Supplies Amid Complication Of Continued Sanctions
...yraktar telling CNN Türk on 10 January that his ministry has already sent two delegations to Damascus, with plans to expand its business there. “We have been exporting electricity and fuel oil to Syria since 2017. There are local companies there. They buy from us and distribute. We will be looking for ho...
Volume: 68Issue: 03Published at Fri, 17 Jan 2025 -
South Korea 2024 Crude Imports: UAE & USA Gain On Dominant Saudi
...*South Korea, the world’s number four crude importer after China, the USA and India, saw imports rise by just under 2% to 2.78mn b/d for 2024, though this remains 250,000 b/d shy of the record annual import figure of 3.03mn b/d set in 2017 (see chart & table). *Latest official Ko...
Volume: 68Issue: 03Published at Fri, 17 Jan 2025 -
Egypt LNG Imports Hit 7-Year High 2.78mn T For 2024, Eyes Tentative Exports For 2025
...Egypt resumed LNG imports last year after a six-year hiatus, with volumes of 2.78mn tons the highest since 2017 after a late-year surge. Cairo eyes the resumption of exports later this year, but this is far from guaranteed. Egypt’s slumping gas output and rising demand saw the country dr...
Volume: 68Issue: 02Published at Fri, 10 Jan 2025 -
Mauritania: Mena’s Newest Gas Producer
...ack at being a petrostate. The Chinguetti oil field started up with much fanfare in 2006 but output rapidly dwindled from an initial 75,000 b/d, with the country’s only producing field finally coming to a halt in 2017. And, with further exploration having largely dried up, expansion at Tortue and/or...
Volume: 68Issue: 01Published at Fri, 03 Jan 2025 -
Middle East Oil Exports In 2024: A Year Of Transition
...sily breaking 2021’s previous record of 20.0%. Crude still accounts for nearly 80% of total exports, but with more than 22mn barrels of oil being exported from the region every day, a shift of a single percentage point equates to substantial volumes: refined products exports are up by 1.5mn b/d since 2017...
Volume: 67Issue: 51/52Published at Fri, 20 Dec 2024 -
Saudi Arabia On Course For Trade Deficit With China
...s largest partner of all; China (see chart 1). China has been the largest source of imports for Saudi Arabia since 2017, after jousting with the USA for the top spot in the years prior (see chart 2). The value of Chinese imports has increased each year with the exception of Covid-hit 2020. Last ye...
Volume: 67Issue: 51/52Published at Fri, 20 Dec 2024 -
Oman: Tethys Flops In Block 58
...16 December. Output is in decline at Tethys’ only producing asset, Blocks 3&4 (CCED 50%op, Tethys 30%, Mitsui E&P 20%) where production has averaged 26,000 b/d so far this year, down 35% from its 2017 peak. The firm recently submitted a field development plan for Block 56, though volumes he...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
Assad’s Downfall Reshuffles Regional Order
...d previously headed the ‘Syrian Salvation Government’ created by HTS in 2017 to administer its territory in Idlib province (see map). SYRIA’S NEW CONTROL MAP AND OIL & GAS INFRASTRUCTURE HTS has a problematic history, to say the least. Until 2016, it was known as Ja...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
UAE Gas Growth Outlook Revised Up Sharply
...st, with its abundance of low-cost energy resources certainly has a strong business case to attract AI data centers, and the UAE has made no secret of its plans to capitalize on this. It appointed a minister of state for artificial intelligence in 2017, launching the UAE strategy for AI in the same ye...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
Cyprus Hopes For Mega Exxon Elektra Find To Jolt Its Gas Sector To Life
...permajor’s exploration position in a region where it has no current output. Exxon was awarded blocks 10 and 5 offshore Cyprus in March 2017 and November 2021 respectively, making the Glaucus find in the former on 2019 (MEES, 1 March 2019). It has since added three large Egyptian Mediterranean blocks, with Qa...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024