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Algeria’s Export Revenue Buffeted By US Shale Hurricane
...the 2.9bcm/y Reggane field and the March 2018 start-up of 1.8bcm/y Timimoun (MEES, 22 December 2017). This year’s only significant boost will come from the Touat field, which like Reggane and Timimoun is in the country’s far southwest. Here private equity-led operator Neptune Energy is ta...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Korea’s Hyundai Signs Up To $2.45bn Iraq Seawater Project
...sra’s oil fields to boost production. While not yet finalized, this is a major step forward for a project that has struggled to get off the starting line, with Baghdad initially hoping for 2017 start up (MEES, 7 June 2013). Talks are ongoing with ExxonMobil and PetroChina for the South Iraq In...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Petroceltic Renamed Sunny Hill
...ES, 8 April 2016). The firm’s key asset is the 3.5bcm/y Ain Tsila project in Algeria, where start-up is scheduled for 2022 (MEES, 15 March). Its other North Africa assets are in Egypt where it produced 79.8mn cfd of gas from three concessions in the onshore Nile Delta in 2017. The firm is also em...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Sonatrach Goes West
...servoir but without disclosing further details. Such opportunities may be a long time coming given that Tindouf is over 500km from the nearest producing gas field, Reggane, which entered service at the end of 2017. ...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Libya: Security Situation Worsens
...most 20,000 b/d for Q1, up from 2018’s 7,600 b/d and 2017’s 12,100 b/d. While there was no damage to the Zella field or its facilities, the assault highlights the security challenges facing Libya’s lifeline oil sector. It also comes on the back of a 29 April rocket attack on the frequently shut-in 30...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Saudi Arabia 1Q19 Key Oil Data (‘000 B/D): Exports At Lowest Since 2017
...CHANGES EXPRESSED IN PERCENTAGE POINT TERMS WHERE ORIGINAL FIGURES ARE PERCENTAGES. *EXCLUDES FIELD LPG (650-700,000 B/D). **NAPHTHA REFINERY OUTPUT INCLUDED IN ‘OTHER PRODUCTS TO DEC 2017 (479,000 B/D FOR 2017). ^PRESUMES ALL FUEL OIL CONSUMPTION IS BURNT IN POWER PLANTS. SOURCE: JO...
Volume: 62Issue: 21Published at Fri, 24 May 2019 -
Egypt: Record Gas Output, Exports At Seven-Year High
...early 2012 to just 38% (1.68bn cfd) by early 2017. Output has since rebounded to 3.94bn cfd for Q1 (60% of Egypt’s total output), with the Q1 2012 record of 4.36bn cfd likely to be topped later this year (see chart). Gas output from the Western Desert, long the country’s second key production ar...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
OMV, Repsol Bank On Libya To Hit Optimistic Output Targets
...llowing a series of attacks late last year, only restarting in early March (MEES, 8 March). The facilities again came under rocket fire on 29 April, whilst output was previously shut in due to rocket attacks last July (MEES, 3 August 2018), and before that for more than two years to early 2017. So on...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Opec Faces Uncertain Outlook As Focus Turns To Vienna
...16, 2017 and 2018 as well and isn’t merely the reclassification of NGLs as crude. STORM CLOUDS OVER VIENNA This reduced market share has hit Opec’s weakest members the hardest. Iran and Venezuela are both facing major political challenges, while cash-strapped countries such as Algeria an...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Yemen: Second IOC Returns Despite No End In Sight To Conflict
...rm PetroMasila’s Blocks 10 & 14 – the main producers of Masila grade crude – and sent via a 150km, 300,000 b/d pipeline to the Ash Shihr terminal which has storage capacity of 3.5mn barrels. PetroMasila was the first firm to restart production in Yemen back in 2016 (MEES, 15 September 2017). Ca...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Shell’s Oman GTL Proposal: What’s Changed This Time Around?
...e major upscaling from Bintulu to Pearl, the years of operating Pearl will give guidelines as to how both the technology and the economics of the process can be improved further. Pearl’s early years of service saw several unplanned outages (MEES, 12 May 2017). Global interest in GTL has since wa...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Morocco Grows Renewables, But Grows Coal More
...reement. ONEE’s overall installed capacity data, particularly the surge in the overall figure to 10.9GW, needs to be treated with caution, however: aging, often mothballed, plants are included. The fact that imports were still needed to meet Morocco’s 2018 peak load of 6.31GW (up 2% on 2017) is suggestive of...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Korea: April Iran Imports At 18-Month High
...Korea’s crude sourcing in recent times has been the sliding share from the Middle East: from 86.4% of 2016 imports to 82.3% for 2017, 74.4% for 2018 and 74.0% for the first four months of 2019. And this has been the result of a deliberate policy with the government offering the country’s im...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
LNG Markets Under Pressure From Soaring Us Exports
...nce the 10% tariff was introduced last year trade has slowed to a trickle, with just three US cargoes sailing for China in the first three months of 2019, versus a quarterly record of 20 for Q4 2017. *In the absence of former top buyer China, US cargoes have headed far and wide. India took a re...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Rosneft Begins Pilot Production in Iraqi Kurdistan
...Russia’s Rosneft announced in its Q1 results this week that “experimental production started at the Bijeel field at Block 11.” This is one of the five blocks that the state-led firm signed up to in Iraqi Kurdistan in 2017 (MEES, 16 June 2017). Bijeel has production facilities with capacity of...
Volume: 62Issue: 20Published at Fri, 17 May 2019 -
Total To Become Top Algeria Producer In $9bn Oxy Side Deal
...lling. The company’s only stake was 35% of the aging Tin Fouye Tabankort (TFT) wet gas field where output has fallen from a peak of 680mn cfd in 2011 to just 400mn cfd for 2017 – netting Total a measly 15,000 boe/d, three-quarters gas (MEES, 23 March 2018). But from that trough, the company’s Algeria ou...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
IOCs Face Mixed Picture In The Mena Upstream
...ll. In the Middle East and North Africa (Mena) region, these contrasting strategies have had a profound impact on respective oil output for IOCs. Total overtook ExxonMobil to seize the crown as the region’s largest oil producer in 2017, and last year opened up a gap of nearly 150,000 b/d on its US ri...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Qatar Rolls Out Plans To Expand LNG Storage, Export Capacity
...nkers. Qatar has previously posited installing new LNG export berths beyond the LNG No.6 berth, and this remains the likeliest location for such facilities. With QP preparing to ramp up LNG exports from 2024 the firm is also greatly expanding its tanker fleet. CEO Saad al-Kaabi told MEES in 2017 that th...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Tamar Shutdown Highlights Israel Upstream Risk
...e online in Q4 this year (see box and MEES, 12 April). Israel has struggled to attract big names to its upstream. The country’s previous bid round in 2017 flopped with Greek minnow Energean the key winner (MEES, 15 December 2017) – Indian state firms also took one block but they have yet to co...
Volume: 62Issue: 19Published at Fri, 10 May 2019 -
Tensions Flare As Turkey Drills Off Cyprus
...ach any sort of compromise, with the most recent summit in Switzerland in 2017, the last concerted efforts, failing to reach any sort of deal. Turkey has warned Cyprus about its own drilling activities to the south of the island and has been threatening since 2011, when Noble Energy discovered the 4....
Volume: 62Issue: 19Published at Fri, 10 May 2019