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US Permian Shale: Can It Maintain The Gains?
...om a stellar 150,000 b/d for February and March, monthly gains since have still averaged 50,000 b/d. Overall US ‘shale oil’ output which only topped 7mn b/d for the first time in May (and 6mn b/d eight months earlier in September 2017), is now well above 7.5mn b/d. Output of 7.53mn b/d for Se...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
2019 Global Oil Demand Projections Revised Down On Economic Headwinds
...IEA SUPPLY & DEMAND FORECASTS, OCTOBER 2018 (MN B/D) 2017 2018 vs 17 2019 vs 18 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Syria: Gas Output At 75% Pre-War Levels, Oil Recovery Lags
...e third day to repair,”a senior manager at one of Syria’s state oil firms tells MEES. “So today, even with the damage suffered, I can assure you that our network is good and operating at full capacity.” Islamic State militants blew up the Hayan plant in early 2017. Repairs there are currently on...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Iraq Sends Record Volumes To Its Refineries
...en almost 100,000 b/d sent for refining there, with the products then brought back into northern Iraq. Given that the arrangement survived last October’s Kirkuk offensive when Iraqi troops reclaimed the city and environs from Kurdistan (MEES, 20 October 2017) a cessation looks unlikely, but the ar...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Riyadh Touts Desalination Assets In Privatization Drive: What’s At Stake?
...THORITY. MEES. 2: SAUDI DESALINATION CAPACITY (‘000 M³/D): OVER 93% IS LARGELY OR WHOLLY STATE-OWNED SAUDI ARABIA’S DESALINATION FIRMS 2017 ('000 M³/D) Ownership in de...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Delegates Desert Saudi Investor Conference
...tober 2017) and the publicity stunt of granting citizenship to the robot “Sophia.” The Crown Prince intended the second act to rival last year’s event, promising the unveiling of an “amazing deal…far away from oil” at FII in a Bloomberg interview earlier this month. “There is one deal in FII and th...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
US Crude Still Big In Asia But China Volumes Fall To Zero
...r January-August). As for Iran, though August volumes were down on the January-August average (578,000 b/d), they are actually slightly higher than the 2017 average of 484,000 b/d. That each of India’s top three suppliers saw volumes dip in August is in part a function of US volumes which hi...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Aramco Chinese Refinery MOU
...val state giant PetroChina’s 260,000 b/d Anning plant in southwestern Yunnan province. Meanwhile, in May 2017 Aramco signed a joint development agreement with China’s Norinco and Panjin Xinchang for a refinery and petchems project in Liaoning in China’s northeast. Qatar’s QP previously pursued a 40...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Korea Takes Libyan Condi
...ports from Iran fell from 361,000 b/d for 2017 to just 55,000 b/d for August and zero for September, volumes from alternate suppliers of condensate have soared (Korean stats don’t split crude and condensate). Korea took 230,000 b/d from Qatar in September, a two year high; the 509,000 b/d from Ku...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Mubadala Shelves Cepsa IPO
...0,000 b/d for 2017. Historically Cepsa core business has been two Spanish refineries which contributed 43% of Cepsa’s net profits in 2016 and 2017. However these plants are not a clear fit with Mubadala’s overseas strategy. Petchems is a better fit. Cepsa has plants totaling 2.58mn t/y capacity in Sp...
Volume: 61Issue: 42Published at Fri, 19 Oct 2018 -
Iraq: Aging Infrastructure To Hinder Basra Gains?
...Cs operating the region’s supergiant oil fields. Iraq’s difficult contract terms, however, remain a perennial snag (MEES, 22 September 2017). BP, which operates Iraq’s largest field, the 1.5mn b/d Rumaila field (BP 47.63%, PetroChina 46.37%, SOMO 6%), is currently in talks with Iraq’s oil mi...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Lukoil Optimistic On Eridu
...Perhaps Iraq’s most promising new asset is the Eridu field (Lukoil 60% op, Japan’s Inpex 40%) located south of Gharaf in Block 10. The discovery was confirmed in early 2017 (MEES, 3 March 2017) and produced 6,000 b/d crude flows from its Mishrif reservoir during appraisal testing. Lu...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Burgan Dip Hampers Kuwait Oil Production Capacity Growth
...Production capacity in Kuwait edged up just 1,000 b/d in 2017-18 (to end-March) according to latest figures from state firm Kuwait Oil Company (KOC). An apparent dip in capacity at the flagship Burgan field offset the 80,000 b/d gains from Kuwait’s northern Jurassic fields resulting in ov...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Omani Oil Output Nears 1mn B/D Mark, Revenues Soar
...lumes coupled with rising prices. MEES estimates that crude and condensate export revenues brought in $1.98bn in September – the highest figure since December 2014. 3Q’s sum of $5.63bn is up $2.09bn year-on-year - nearly 60%. Year-to-date revenues are up 35% on the same period in 2017, which will he...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Total Signs Up For Algeria Expansion
...laise affecting Algeria’s gas sector. Despite the start-up of a key Repsol-led field (2.9bcm/year Reggane North), sales gas volumes edged down to 94.5bcm for 2017 (MEES, 7 September). Delays elsewhere mean output may decline this year despite the February start-up of the 1.8bcm/y Timimoun field: first ga...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Qatar Drilling Tender Imminent
...ss as an export terminal. The timeline has slipped slightly as Mr Kaabi told MEES in December 2017 that “all the bids are in now and we are evaluating these. By the first or second quarter next year we will decide with our partners what we want to do” (MEES, 8 December 2017...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
DNO All In On Iraqi Kurdistan As Output Soars
...ne 2017 start up. With DNO riding high on production gains and higher oil prices, the company is also poised to begin drilling at Baeshiqa (DNO 32% op, ExxonMobil 32%, Turkish Energy Company 16%, KRG 20%). The firm finalized its acquisition of its 32% stake from ExxonMobil in April (MEES, 4 May). Th...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Oil Markets Enter The ‘Red Zone’
...iversally bullish on the future of Brazil’s deepwater ‘pre salt’ output, delays and a heavy maintenance schedule mean this year’s output has been down on 2017 (MEES, 7 September). August’s output, at 2.52mn b/d was the lowest in more than two years. However the continued ramp-up at new pre salt FPSOs ma...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Libya Looks To BP/Eni Deal To Unlock Upstream Investment
...nditions allowed. But as a company with no production or other assets in Libya it had never judged the timing opportune. How to square the circle? …BUT ENI EYES BIG REWARD Enter Italy’s Eni, Libya’s biggest producer with 384,000 boe/d of output for 2017 (mostly gas) and a proud record of...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018 -
Oman Eyes Big Solar To Reduce Reliance On Gas-Fired Power
...pacity of 1.55GW put renewables in second place, with the remainder comprising a “clean coal” project and the Misfah IPP, for which the fuel has not been specified (see chart). At the end of 2017 Oman had just 8MW of renewables power generation capacity, according to Abu Dhabi-based renewable energy ag...
Volume: 61Issue: 41Published at Fri, 12 Oct 2018