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BP’s Eyes Raven Rebound As Egypt Output Slump Continues
...ypt, but its biggest project, West Nile Delta (WND) which started-up in 2017, has witnessed startling decline rates. In a bid to arrest that decline BP earlier this year launched a two-well infill drilling campaign at the Raven field, where output having hit 800mn cfd following 2021 start-up has since ha...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Kuwait Pushes Back Upstream Capacity Target To Next Year
...elds, with KOC closing on its target of bringing overall conventional North Kuwait capacity to 700,000 b/d, just below the 2017-18 capacity peak of 760,000 b/d (MEES, 12 May 2023). KOC is increasingly deploying water injection and expensive chemical EOR techniques, while upping its drilling and workover op...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Saudi Crude Exports Slump For Q3 On Record Oil Burn, Bumper Throughputs
...ghest on record behind 3Q 2017. Adding in direct crude burn, the figure of 2.78mn b/d was a nine-year high. 1: SAUDI CRUDE SUPPLY*: EXPORTS WERE SQUEEZED TO A NEAR 10-YEAR LOW 5.7MN B/D FOR Q3 (MN B/D).... 2: ...A RECORD LOW 63% CRUDE SUPPLY SHARE. IN CONTRAST, THE SHARE REFINED AN...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Will Iraq Be Caught In The Crossfire Of Trump’s Iran Policy?
...restart Kurdish exports to Turkey’s port of Ceyhan. This is especially the case given rumors from Washington that pro-Kurdistan names are being touted for senior positions at the Departments of State and Energy. But the KRG has also painfully learned, from its failed independence referendum in 2017...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Tunisia Oil & Gas Output Falls To New Record Lows
...8,000 b/d was hit in 1980. *Previous lows of 30,000 b/d plumbed in 2017 and 28,000 b/d in 2020 were linked to country-wide strikes (MEES, 2 June 2017) and Covid, respectively. This year’s new lows are the culmination of a chronic lack of investment: no development wells were drilled in Tunisia du...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
QatarEnergy Expands In Egypt Amid US LNG, Namibia Exploration Setbacks
...oust Doha-backed Islamist president Mohamed Morsi. Further straining relations, Egypt also participated in the Saudi-led 2017-2021 embargo of Qatar, but that all appears to be water under the bridge, especially if Qatar’s deep pockets can help Cairo fix its finances. MAJOR PA...
Volume: 67Issue: 46Published at Fri, 15 Nov 2024 -
Oman Sweetens Terms In A Bid To Entice IOCs To ‘Complex Assets’
...troleum Development Oman (PDO), to pioneer unique development techniques including enhanced oil recovery (MEES, 5 July). The sultanate also possesses sizeable unconventional gas assets including the massive 1.5bn cfd Khazzan & Ghazeer tight gas development which, when it started up in 2017 helped sp...
Volume: 67Issue: 45Published at Fri, 08 Nov 2024 -
Qatar Crude Output Tops 600,000 b/d For First Time Since 2018
...d TotalEnergies (30%) since July 2017 (MEES, 28 July 2017). It is an extension of Iran’s 25,000 b/d South Pars Oil Layer (SPOL). Prices are set by QatarEnergy each month following a monthly-tender which serves as an important indicator for regional spot market sentiment. The field’s output gains we...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Tehran Takes Wary View Of US Presidential Elections
...timate say rests with Supreme Leader Ayatollah Ali Khamenei, who sets Iran’s overall policies. LESSER OF TWO EVILS? That said, a look at both candidates’ track records – Mr Trump’s presidency from 2017 to 2021 and Ms Harris’ tenure under President Joe Biden – shows that they were inclined to...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Saudi Halts Bab al-Mandeb Fuel Oil Transfers
...livered in October is the smallest monthly figure in Kpler’s records dating back to January 2017. In reality, it will have been the smallest in at least a decade, if not this century, given how embedded the Gulf-Red Sea route is in Saudi Arabia’s supply chain. Key facilities such as the 6GW Rabigh and 5....
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Saudi Energy Minister: We Will Make Money From The Energy Transition
...edstock through ten projects. The improved generation efficiency this will yield is a key part of plans to boost overall efficiency from 40% last year to 44% by 2030 – up from 37% in 2017. The conversion projects aren’t named, but with an average capacity of 2.3GW per project they clearly entail the up...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Gulf NOCs Target Cuts To Upstream Emission Intensity
...stream output (CO2e/boe) which they aim to reduce to 17kg CO2e/boe by 2025 from a 2017 baseline of 23kg. The CO2e measure includes emissions of methane – a far more potent greenhouse gas, especially over the short term – at a conversion factor of 1kg methane = 29.8kg of CO2e. Gulf NOCs fall into two br...
Volume: 67Issue: 43Published at Fri, 25 Oct 2024 -
Tunisia: 200mw Solar Plan
...lls for proposals in the past have met with threadbare success. The first such ‘call for projects’ in 2017 saw four projects totaling 22MW built, including the country’s only 2023 start-up – 10MW at Meknassy – whilst the three subsequent rounds (2018, 2019, 2020) have resulted in a princely 6MW of ca...
Volume: 67Issue: 43Published at Fri, 25 Oct 2024 -
Cyprus’ Cronos Gas Find: Eni & Total At Odds Over Development Plan
...2017,” the government source tells MEES. “Maybe Total is unhappy that Cronos gas would go via Eni-operated facilities, potentially to an Eni-operated LNG export plant at Damietta, where it would have zero control over the gas,” the source speculates. Chevron had no such qualms when it fi...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
IEA Points To Lower Forever Oil Markets
...ve fallen to their lowest levels since at least 2017, it adds that “global refined product stocks have swelled to three-year highs, pressuring margins across key refining hubs.” IEA SUPPLY & DEMAND FORECASTS, OCTOBER 2024 (MN B/D) OPEC SUPPLY & DEMAND FORECASTS, OC...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
Egypt: Record Gas Deficit With Output At 7-Year Low
...*August saw Egypt post a new gas deficit (output minus consumption) record of 1.85bn cfd, surpassing the previous month’s record of 1.74bn cfd (MEES, 20 September). Gas output continues to slump, dropping to 4.58bn cfd, the lowest since March 2017 and down over 1bn cfd year on year according to...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
Iran Prepares For Israel Retaliation
...ound 130,000 b/d of condensate from Assaluyeh and Kangan further south in Bushehr province. Since their re-imposition in 2018, US sanctions have upended Iran’s customer base and sunk its oil exports from more than 2.5mn b/d in 2017 to less than 1mn b/d in 2019 and 2020, before steadily increasing to...
Volume: 67Issue: 41Published at Fri, 11 Oct 2024 -
Algeria Renewables: Set For Take-Off At Last?
...llowing six years, the majority off-grid rooftop solar, a figure which was smaller than the shrinking of Algeria’s hydropower capacity. As a result, the end-2023 renewables figure of 601MW was below 2017 levels (see chart). But the country has major renewables ambitions, targeting 15GW capacity by 20...
Volume: 67Issue: 41Published at Fri, 11 Oct 2024 -
Oman’s Divestments Fund Economic Diversification, Lift Credit Rating
...tch below investment grade. Moody’s last changed its outlook to positive on 29 August while keeping its rating at Ba1, while Fitch has yet to update its rating since it affirmed BB+ on 24 May. S&P was the first of the agencies to junk Oman back in 2017 (MEES, 24 November 2017), with Fitch and Moody’s on...
Volume: 67Issue: 41Published at Fri, 11 Oct 2024 -
Egypt Oil Products Import Bill Soars As Aged Refineries Shunned
...gust and 237,000 b/d for September. As for LNG, Q3’s LNG imports of 1.45mn tons (19 cargoes) were just shy of the all-time high volumes of 2016 and 2017 (MEES, 13 September). Based on pricing at premiums of around $1.50/mn BTU to the European TTF benchmark as per Egypt’s Q3 import awards (MEES, 28 Ju...
Volume: 67Issue: 40Published at Fri, 04 Oct 2024