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Ex-Sonatrach CEO Held In Dubai Amid Refinery Probe
...rest warrant “against the main accused” in the ongoing corruption case surrounding Sonatrach’s December 2018 purchase of Italy’s 200,000 b/d Augusta refinery (MEES, 11 May 2018). “The main accused” was widely believed to be Ould Kaddour, who was Sonatrach CEO from 3 April 2017 to 23 April 2019 and le...
Volume: 64Issue: 12Published at Fri, 26 Mar 2021 -
Egypt Power: Plentiful Gas, Falling Demand Make Shortfalls A Distant Memory
...fective capacity with blackouts commonplace. Two key events have transformed Egypt’s power supply situation in recent years. The start up of the giant Zohr offshore gas field at the end of 2017 and its subsequent ramp-up made chronic gas shortages a thing of the past (MEES, 14 September 2018). And 20...
Volume: 64Issue: 12Published at Fri, 26 Mar 2021 -
IEA Shoots Down Speculation Of Emerging Super-Cycle As Oil Price Rally Stalls
...int. From 32.08mn b/d in 2017, the Call on Opec fell to just 28.7mn b/d in 2019. Even by the end of its outlook horizon in 2026 the IEA reckons the ‘call on Opec’ will only have recovered to 30.8mn b/d, still more than 1mn b/d below 2017 levels. OPEC DIVERGENCE: MIND THE GAP While th...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Dubai’s Enoc Imports Qatari Condensate, But Iran Remains The Missing Piece
...loaded 712,000 barrels of deodorized field condensate (DFC) from Qatar’s Ras Laffan at Dubai’s Jebel Ali on 5 March. This was the first such cargo since September 2017. Supplies of Qatari condensate for Enoc’s Jebel Ali splitter had been halted ever since due to the UAE’s participation in the embargo of...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Turkey Gas & Power: Pipelines, Black Sea Find, Nuclear & Renewables Give Ankara Options
...rkey. So it is perhaps not surprising that Russia, holder of the world’s largest gas reserves, has historically been Turkey’s top gas supplier. That said, the last two years have seen Russia’s market share fall to the two lowest figures on record. From a record 28.7bcm in 2017, half of Turkey’s total ga...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Saudi PIF Aims To Kickstart Kingdom’s Services Sector With ADES Buyout
...cused on Egypt. But the company has expanded since its 2017 listing on the London Stock Exchange. In 2018 it tapped $450mn in loans, including $125mn from the EBRD, for “expansion of ADES outside of its home market in Egypt via the purchase and refurbishment of rigs or acquisition of entities operating su...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Saudi Arabia Reaps Benefit Of Gas Supply Boost
...9,000 b/d were the lowest January figure since 2017. Fuel oil consumption, primarily for power and water desalination, averaged 401,000 b/d, which was down 200,000 b/d on December and also a four-year low. SAUDI ARABIA direct Crude burn (‘000 B/D) HAS STARTED THE YEAR AT LOWS NOT SEEN SINCE 2017...
Volume: 64Issue: 11Published at Fri, 19 Mar 2021 -
Turkey Crude Imports: Iraq Soars Past Russia For 2020 Top Spot
...*Iraq was way out in front as top crude supplier to key Mediterranean importer Turkey for 2020. The 236,000 b/d Turkey took from Iraq was not only a record and up 24% on 2019, but the highest volume that Turkey has taken from any single supplier ever – beating 229,000 b/d from Iran in 2017 (se...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021 -
Houthis Step Up Siege On Aramco Energy Infrastructure
...rt of a regional tour, during which he met with Saudi Foreign Minister Prince Faisal bin Farhan. During the talks, Prince Faisal said that Riyadh will take “necessary deterrent measures to protect its national resources,” hinting that the kingdom could pursue its plans from 2017 to purchase Russian S-...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021 -
Adnoc & Petronas Ink Wide-Ranging Partnership Deal
...reements were reached during the visit to the UAE of Malaysian Prime Minister Tan Sri Muhyiddin Yassin. Trade relations between the two countries are on the rise, although they’ve not been without their turbulence. Abu Dhabi state firm IPIC, which was merged into Mubadala in 2017, was previously embroiled in...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021 -
Saudi Oil Export Revenues Down 40% For 2020
...oking ahead to 2021 as a whole, a relatively conservative estimate would peg oil export revenues at slightly more than $150bn, putting them broadly in line with 2015 levels. However, 2017’s $170.2bn remains an attainable target, which if achieved would greatly ease the financial pressure on Saudi Aramco as...
Volume: 64Issue: 10Published at Fri, 12 Mar 2021 -
Repsol & Shell Leave Morocco; Repsol Quits Iraqi Kurdistan
...as Covid hit) fuel Morocco’s two gas-fired power plants (MEES, 5 June 2020). The exit of Repsol and Shell leaves the only sizable players in Morocco as Eni, which has the shallow water Tarfaya permit off the south of the country (MEES, 22 December 2017), and ConocoPhillips which signed up for th...
Volume: 64Issue: 09Published at Fri, 05 Mar 2021 -
Egypt: BP’s Key WND Project Sees Output Collapse
...line in March 2017 via tie back to processing facilities at Idku that had been used to process gas from Shell’s offshore WDDM fields. That there was ample spare capacity was due to the faster-than-expected decline at Shell’s fields (MEES, 19 February). So perhaps BP should not have been surprised when Li...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Egypt-Palestine-Qatar
...om Egypt and Qatar this week meeting in Kuwait to discuss the normalization of bilateral relations. Egypt in 2017 joined Saudi Arabia, the UAE and Bahrain in breaking off relations with Qatar. The three Gulf countries last month agreed to end the embargo and reestablish relations (MEES, 8 January). ...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Egypt Downstream: ERC Boosts Output & Exports To 2020 Records Despite Covid Slump
...4,000 b/d, and overall oil demand was down 13% at 605,000 b/d, a 14-year low (see chart 3). Fuel oil fell the furthest, to just 34,000 b/d, a fifth of 2017 levels, as the country’s gas surplus (MEES, 12 February) enabled the all-but ending of the burning of fuel oil in power plants (see p15). *Last ye...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Egypt Power Fuels: Gas Surplus All But Ends Oil Burn
...s been the ramp-up in gas availability driving out oil burning from Egypt’s power generation fuel mix. *Fuel oil demand fell to just 34,000 b/d for 2020, a fifth of 2017 levels, as the country’s gas surplus all-but ended the burning of the fuel in power plants (see chart 3 and p1...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Lamprell: First Saudi LTA Award
...o offshore production deck modules and associated pipeline and subsea cables. The UAE firm’s primary facilities are in Hamriyah, Sharjah, but in 2017 it signed a joint venture agreement with Saudi Aramco, national shipping carrier Bahri and Hyundai Heavy Industries to establish and operate a ma...
Volume: 64Issue: 08Published at Fri, 26 Feb 2021 -
Oman Capitalizes On Opec+ Condensate Exemption With 2020 Output Surge
...rgely enabled by the BP-led development of Block 61’s Khazzan tight gas field, which reached full phase-1 capacity of 1bn cfd (10bcm) in 2018 after starting up in 2017 (MEES, 29 September 2017). Oman liquids production had been capped by Opec+ ever since Khazzan’s startup, meaning that until last year Mu...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Qatar Brokers Israel-Gaza Gas Supply Deal
...d around 30MW from Egypt, but still suffers from between eight to twelve hours of blackouts every day. The World Bank, in a 2017 report, estimates the cost of diesel-fired generation at the plant at approximately $0.30/kWh. Switching to gas-fired generation could “slash costs to $0.068/kWh,” the Wo...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021 -
Israel 2020 Gas Output, Exports At Record Levels
...gan two weeks later (MEES, 17 January 2020). Jordan has imported gas from Israel since 2017. But until the start-up of Leviathan sales had consisted solely of modest Tamar volumes of around 20mn cfd to industrial customers on the Dead Sea. The game changer was Jordan state power firm Nepco’s 20...
Volume: 64Issue: 07Published at Fri, 19 Feb 2021