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Oman’s OQEP Eyes New Gas Discovery In Upstream Reshuffle
...scovered in 2017 OQEP has expanded crude processing capacity with three processing plants commissioned in August 2019, September 2021, and November 2022. EXITING UNDERPERFORMING BLOCKS OQ and its partner Shell exited Block 42 after the exploration and production sharing agreement expired in...
Volume: 67Issue: 39Published at Fri, 27 Sep 2024 -
Eni & BP Set To Kick Off Libya Exploration Drilling Campaign
...tput in Libya has been falling. Mellitah sales gas output of 860mn cfd for 2023 is little more than half 2017’s peak figure of 1.59bn cfd, whilst Eni’s net figures are down even more (see chart). At the same time exports to Italy via the Eni-operated Greenstream pipeline (Libya’s sole gas export ou...
Volume: 67Issue: 39Published at Fri, 27 Sep 2024 -
Kuwait Hopes To Revive Stalled Petchems On Back Of Refinery Upgrade
...$9.7bn (MEES, 26 May 2023). The UK’s Amec Foster Wheeler was awarded a $34mn Feed contract for Olefins-3 and Aromatics-2 back in 2017 (MEES, 19 May 2017). However, the lack of foreign investor interest means a final investment decision has yet to be taken. The firm remains hopeful that it can se...
Volume: 67Issue: 39Published at Fri, 27 Sep 2024 -
Oman’s Sohar Strengthens Gasoline Trading Hub Role
...dn’t impact trade of the fuel. Oman has been a net gasoline exporter since 2018 after upgrading and expanding its 197,000 b/d Sohar refinery the previous year (MEES, 17 February 2017), and both imports and exports have set new records each year since, with net exports steady at around 30,000 b/d on an an...
Volume: 67Issue: 37Published at Fri, 13 Sep 2024 -
Cairo Plans Bumper Winter LNG Imports But Power Cuts May Return
...RU, saw imports of 505,000 tons, the highest monthly figure since 2017. Presuming that the full 20 cargoes unload by the end of September this implies total Q3 import volumes of 1.4mn tons, the highest figure since 3Q 2017 (see chart 1). GAS OUTPUT: FROM BAD TO WORSE Egypt’s ga...
Volume: 67Issue: 37Published at Fri, 13 Sep 2024 -
Indian Oil Signs Up To Ruwais LNG
...w Delhi by Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, where he met Indian Prime Minister Narendra Modi. During the visit, Adnoc also signed a strategic framework agreement with Indian Strategic Petroleum Reserve Limited to extend its existing oil storage agreement. In 2017, Adnoc signed an...
Volume: 67Issue: 37Published at Fri, 13 Sep 2024 -
Oman Awards Northern Tight Gas Play In Bid Round
...2017 with cumulative output of 44,000 barrels on extended test, but which quietly abandoned the asset before last year’s bid round. The ministry says that in total four exploration wells and one appraisal well were drilled on the block between 1993 and 2017. Two formations indicated the pr...
Volume: 67Issue: 36Published at Fri, 06 Sep 2024 -
Egypt Launches Upstream Charm Offensive Alongside 12-Block Bidding
...hr’ across both this and its other nearby acreage (MEES, 24 March 2017), including 2022’s Fagr-1 dry hole on the on-offer Block 6 (South Zohr). Zohr was discovered in a carbonate build-up in the Cretaceous formation. And it is in the Cretaceous that Egas flags up 10.7tcf of risked resource on the bl...
Volume: 67Issue: 35Published at Fri, 30 Aug 2024 -
Egypt Refinery Upgrades Edge Forward
...west figures since 2017, whilst the latest figures for June are only slightly higher (see chart). For 2023, national throughputs of 530,000 b/d were just 70% of the country’s then primary distillation capacity of 760,000 b/d. The most recent by-company runs figures, for the 2022-23 financial ye...
Volume: 67Issue: 35Published at Fri, 30 Aug 2024 -
Egypt Gas Slump Continues With IOCs & Cairo In Payments Standoff
...2). Gas output fell to 5.01bn cfd for Q2, with this and the latest monthly figure of 4.923bn cfd for June the lowest respective figures since early 2017’s start-up of BP’s key West Nile Delta project which was followed by that of Eni’s giant Zohr field at the end of the year (see chart 1). The co...
Volume: 67Issue: 34Published at Fri, 23 Aug 2024 -
Oman: Sohar Refinery Back Online
...at predate the plant’s expansion in 2017 (MEES, 17 February). Due to the outage, OQ was forced to sell 1mn barrels of crude on a prompt tender to load at the end of the month, according to Reuters (MEES, 9 August). A trading source says that the impact was limited and only affected gasoline ex...
Volume: 67Issue: 34Published at Fri, 23 Aug 2024 -
Oman: Sohar CDU Down
...vernment data. Capacity at the refinery expanded in 2017 from 116,000 b/d to 197,000 b/d with mechanical completion of a second crude distillation unit, a new vacuum distillation unit, and kerosene Merox units (MEES, 17 February 2017). It is unclear how long the outage will last, but lengthy do...
Volume: 67Issue: 32Published at Fri, 09 Aug 2024 -
Oman Eyes Fourth LNG Train Taking Capacity To 15.2mn t/y By 2029
...untry has experienced a gas ‘renaissance’ since 2017 when BP brought online the massive Khazzan gas development. With the second phase Ghazeer expansion successfully added, the field now produces 1.5bn cfd, some 37% of the country’s current non-associated gas output. Added to this is new output from th...
Volume: 67Issue: 31Published at Fri, 02 Aug 2024 -
Neom’s Sustainable Power & Water Plans: Enowa CEO Speaks With MEES
...wn with MEES to discuss the project. The region of Neom is one of the most prominent symbols of Saudi Arabia’s Vision 2030. First announced by Crown Prince Muhammad bin Salman in 2017 as “the land of the future, where great minds and talents can create ground-breaking ideas and think outside the bo...
Volume: 67Issue: 31Published at Fri, 02 Aug 2024 -
Kuwait Boosts Capacity At Key Fields
...abia. Kuwait’s oil sector is rebounding from a series of setbacks at the turn of the decade which saw KOC capacity slump from 3.15mn b/d at the end of the 2017-18 financial year in March 2018 to just 2.629mn b/d three years later. KOC capacity is supplemented by around 200,000 b/d from the PNZ – Ku...
Volume: 67Issue: 30Published at Fri, 26 Jul 2024 -
Korea Crude Imports: New UAE Record
...ril’s 570,000 b/d was a 21-year high on a monthly basis (MEES, 17 May). *Korea’s overall crude imports were up 1.5% at 2.82mn b/d for 1H 2024, putting 2024 on track for the highest annual figure since 2019, albeit some 210,000 b/d below the record annual figure of 3.03mn b/d set in 2017. South Ko...
Volume: 67Issue: 29Published at Sat, 20 Jul 2024 -
Algeria Adds Power Capacity
...rea had previously indicated 2025 completion for the project (MEES, 7 January 2021). When awarded in 2014 the target for completion was 2017....
Volume: 67Issue: 28Published at Fri, 12 Jul 2024 -
Iran’s New President Pezeshkian: Economy Top Of The Agenda
...at of neighboring countries. 2015’s JCPOA re-kindled foreign interest in Iran’s upstream (MEES, 6 January 2017). But reaching a new deal rests on the outcome of US presidential elections in November. The outlook is more favorable if President Joe Biden, or his replacement on the De...
Volume: 67Issue: 28Published at Fri, 12 Jul 2024 -
Egypt Gas Woes Continue As Output Slumps At BP’s Raven
...Egypt gas output is below 5bn cfd for the first time since early 2017. It’s not only top producer Zohr which is in decline, output at BP’s Raven, the country’s number two, has halved over the past 18 months. Egypt’s gas output figures go from bad to worse. Latest oil ministry data has pr...
Volume: 67Issue: 28Published at Fri, 12 Jul 2024 -
DME Oman Trades Soar As It Clinches Tadawul Investment
...ont-month trading volumes soared by 22% year-on-year over the first half of 2024, rising to the highest level since 2H 2017 (see chart 1). Momentum has been building for some time as physical traders grow increasingly confident in the contract. The DME Oman futures contract is a physically de...
Volume: 66Issue: 37Published at Fri, 05 Jul 2024