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Majors’ Russia Exit Puts Spotlight On Mena Portfolios
...to Iran’s South Pars gas project in 2017 was cut short by the return of US sanctions the following year (MEES, 23 November 2018). While it was prevented by the Algerian government from buying Occidental’s ex-Anadarko assets in 2020 (MEES, 8 May 2020), at least the firm managed to complete its co...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
Energean Karish FPSO Sets Sail, Adds Gas Sales Deal
...pply 0.8bcm/y (77mn cfd) to the newly privatized 700MW East Hagit Power Plant in northern Israel (MEES, 21 January). It is the second GSPA that Energean has signed with lead partner Edeltech, following an October 2017 deal to supply 2.5bcm of gas over 14 years (see table). Energean flags up that th...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
Iraqi Kurdistan’s Energy Sector Under Attack
...vancing Islamic State and Kurdish fighters filled the vacuum, saw it banned by NOC following the federal government’s re-taking of the fields in 2017. Kar’s proposal to take over two power plants in Basra last year was denounced by MPs (MEES, 12 February 2021) who labeled it as a sell-off of “state as...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
UAE’S First Waste-To-Energy Plant Begins Testing
...become the Middle East’s first zero-waste city.” The plant, developed by Abu Dhabi state utility Adpower, incorporates moving grate technology to process and burn waste to drive a steam turbine generator set EWEC is led by Abu Dhabi state renewables firm Masdar and was formed in 2017 with the go...
Volume: 65Issue: 18Published at Fri, 06 May 2022 -
ExxonMobil Quits Iraqi Kurdistan
...cked up five licenses in 2017 and a 60% stake in the region’s crude oil export pipeline to Turkey (MEES, 10 November 2017) – but there are growing questions over the ability of the Russian firms to operate smoothly after being hit by fresh sanctions in the fallout from the Ukraine invasion. As for Ex...
Volume: 65Issue: 17Published at Fri, 29 Apr 2022 -
Mideast Distillate Exports Drop Amid Global Shortfall
...ower pace than envisioned by the IMF in January (MEES, 22 April) – and demand therefore rising, distillate crack spreads have widened dramatically. Inventories have been declining since mid-2021 “and are currently at their lowest level since at least 2017,” according to a 12 April note by consultancy FG...
Volume: 65Issue: 17Published at Fri, 29 Apr 2022 -
Saudi Crude Exports At 22-Month High As Crude Burn Falls
...bruary, the highest since August 2019 whilst fuel oil production rose to 524,000 b/d for the highest since August 2017. This comes as Saudi gradually ramps up throughputs at its 400,000 b/d Jazan Refinery which is currently running at half capacity prior to full operations later this year. However, it is un...
Volume: 65Issue: 16Published at Fri, 22 Apr 2022 -
Egypt Oil Burn Rises As Gas Exports Maxed
...art). Egypt slashed fuel oil burn at its power plants following the end-2017 start-up of the giant Zohr offshore gas field (see p3 and MEES, 15 December 2017) and the 2018 start-up of 14.4GW of CCGT capacity (MEES, 27 July 2018). Fuel oil burn fell to an average of just 35,000 b/d for 2020 and 22...
Volume: 65Issue: 16Published at Fri, 22 Apr 2022 -
Food & Fuel: Surging Prices Spell Mixed Fortunes In North Africa
...BYA (2018) AND ALGERIA (2017). SOURCE: WORLD BANK. 2: PRICES OF MAJOR FOOD PRODUCTS HAVE SOARED OVER THE PAST FEW MONTHS* *FAO FOOD COMMODITY PRICE INDICES SHOW CHANGES IN MONTHLY INTERNATIONAL PRICES OF MAJOR FOOD COMMODITIES. 2014-2016 PRICES USED AS BASE. SOURCE: FOOD AND AG...
Volume: 65Issue: 16Published at Fri, 22 Apr 2022 -
BP Taking Egypt Offshore Block As Raven Outages Persist
...itially started-up in 2017 through the Libra and Taurus fields but suffered steep production declines. Despite the latest Phase-3 Raven gas-condensate field being brought online almost 12 months ago, output has never reached the 1.4bn cfd initially planned when the project was sanctioned (MEES, 30 April 20...
Volume: 65Issue: 15Published at Fri, 15 Apr 2022 -
Leviathan To Turkey Pipeline Talk Resurfaces
...mietta or Idku and/or a floating LNG (FLNG) facility to be moored in Israeli waters next to the Leviathan platform, 10km offshore Dor (see map). Since tentatively starting in 2017 with minimal volumes to Jordan’s Arab Potash plant on the Dead Sea, Israel’s gas exports have risen meteorically. Exports we...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Mounting Debt Obligations Take Shine Off Of KRG Oil Revenue Boost
...ES, 21 January). Output dropped from 453,000 b/d in 2020 to 445,000 b/d last year, but gross oil revenues more than doubled to $9.12bn thanks to resurgent oil prices. This is the highest figure since the KRG brought Deloitte in to audit its oil sector in 2017 and began issuing quarterly reports. Gr...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Qatar’s Al Kharsaah Solar PV Plant Poised For Startup
...ES, 4 March). SIRAJ ENERGY: LEADING DIVERSIFICATION √ Siraj Energy was established in 2017 as a joint venture between state-run QatarEnergy (51%) and Qatar Electricity and Water Company (49%), with the aim of developing projects to...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Kuwait Cabinet Resigns, Again
...pacting the government’s ability to pass a much-needed debt law, reduce bloated spending, and diversify the economy away from oil reliance. On 4 April, local Kuwaiti Al Anbaa reported that finance ministry documents showed that since “the public debt law’s validity ended in October 2017,” Kuwait withdrew “ab...
Volume: 65Issue: 14Published at Fri, 08 Apr 2022 -
Kuwait Oil Expansion Gets $1bn Japan Boost
...rkover rigs throughout its fields.” This is considerably more than the one-year high 28 active rigs shown in the Baker Hughes Rig Count for February. According to KOC’s annual reports, drilling and workover activity peaked in 2017-18 with 672 new wells drilled and over 1,500 workover operations. This ha...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Eni Turns To North Africa In Gas Output Drive
...ODUCTION *NO NORTH AFRICA SPLIT AVAILABLE FOR 2021. ^EXCLUDING EGYPT. SOURCE: ENI, MEES. EGYPT GROWTH Egypt has been instrumental to Eni’s tilt towards gas since the start-up of the 21.5tcf offshore Zohr field in late 2017. The field posted record 2.74bn cfd output last year, contributing 40...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Qatar Snags Egypt Mediterranean Block As Relations Advance
...ismic-only commitment. Should Exxon and QE then move to a second two-year phase this comes with a commitment to drill three wells. CYPRUS CONNECTION QE’s entry into North Marakia marks a growing partnership with Exxon in the Mediterranean following the April 2017 award of Cyprus’ of...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Oman Oil Output Hits New Heights In Q1 As Revenues Soar
...st notably the 2017 start up and subsequent expansion of the BP-operated Khazzan tight gas development – Khazzan’s condensate capacity is around 60,000 b/d (MEES, 16 October 2020). Condensate production was restricted by Opec+ commitments between January 2017 and January 2020, but is now exempt fr...
Volume: 65Issue: 13Published at Fri, 01 Apr 2022 -
Saudi Aramco Plans 50% Gas Output Boost By 2030
...d in 2021, including a single-day output record of 10.8bn cfd. The previous records of 9.03bn cfd and 10.7bn cfd respectively had been set in 2020, and the 170mn cfd year-on-year increase was the fastest annual increase since 2017. Sales gas output has now increased for 15 consecutive years (see ch...
Volume: 65Issue: 12Published at Fri, 25 Mar 2022 -
Algeria Smashes Gas Output Record For 2021, Can It Keep It Up?
...tput records of 94.8bcm and 94.5bcm set in 2016 and 2017, but also breached the 100bcm mark for the first time with production rising 17% to 102.8bcm (9.94bn cfd), according to official Algerian submissions to Jodi (see chart 1). Output continued to roar in January, hitting 9.7bcm – just 0.4bcm shy of...
Volume: 65Issue: 12Published at Fri, 25 Mar 2022