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...

Tunisia Gas Output At Record Lows

...the region, implements a 2017 agreement to over pay and working conditions.  ...

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...

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...

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...

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...

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...

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...

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....

Saudi Eyes Tankers For LNG Trading Boost

...s in talks with Qatar over importing from the emirate (MEES, 8 December 2017).    ...

Saudi Oil Export Earnings At Two Year Low

...Saudi Arabia oil export revenues came in at $15.5bn in September, the lowest level in exactly two years. The latest government statistics show that earnings were the lowest since September 2017’s $13.6bn, and were down from $5.9bn the previous month. This was of course an inauspicious month fo...

Egypt’s EETC Bags $200mn EBRD Loan…

...s the lead investor at Benban, after Cairo’s Ministry of Energy relaxed previously prohibitive solar development terms (MEES, 3 November 2017).  ...

UAE Eyes Early 2020 Nuclear Start-Up

...e Barakah-1 reactor is mechanically complete and being prepared for operation when the operating license is received from FANR. Enec intended to bring the four 1.4GW Barakah reactors online at yearly intervals during 2017-20, but FANR will not licence Nawah operating JV of Enec and Korean co...

Saudi Net Foreign Assets Slump Below $500bn In Wake Of Abqaiq Attack, Biggest Monthly Fall Since Jan 2017

Egypt Kicks-Off 2018-19 Fundraising

...an to raise $5bn this year is an indication of its improving finances following its $12bn IMF sponsored financial reform program which officially ended in August of this year (MEES, 13 September). Since entering the program in November 2016 Egypt has borrowed $7bn in 2016-17, $6.5bn in 2017-18 and $6....

Egypt Inks E&P Deals

...gust) output risks falling below the previous low of 330,000 b/d set in March 2017 whilst Egypt’s overall output looks set to test the 35-year low of 614,000 b/d set the same month (see chart). EGYPT'S SLIDING OIL OUTPUT ('000 B/D) Source: EGPC.  ...

Korea LNG: Qatar Volumes Slump

...rean imports. And for October Qatari volumes fell to just 0.47mn tons, the lowest monthly figure in well over a decade (see chart). Such has been Qatar’s dominance in Korea that only twice since 2013 had it not been top on a monthly basis (edged out by Australia in September 2017 and June this ye...

Algeria-To-Italy Gas: New Deals, Reduced Aspirations

...ock a massive fall in 2019. Volumes for the first 10 months of this year were down 39% at 8.4bcm. And whilst 2017 and 2018 saw volumes pick up in Q4, this has not been the case this year: deliveries through 14 November were flat with October (and down slightly on September) levels. Full-year 2019 de...

Total’s Anadarko-Algeria Assets Completion: ‘Late 2020’, Perhaps Never

...tstanding.  “Discussions with the authorities” in both Algeria and Ghana “are still ongoing,” Mr Sbraire says, adding that “We have this type of discussion in particular in Algeria…We are of course familiar to this kind of discussions when we acquired the Maersk portfolio.” As part of Total’s 2017 purchase of...

Qatar Axes HSFO Sales

...e of the first countries to limit the availability of marine fuels to only grades that are compliant with the International Maritime Organization’s 2020 regulation.” QP and state fuel retailer Woqod began providing bunker fuels in June 2017 to meet the fuelling needs of the Qatargas LNG fleet an...