- Sort by:
- Score
- Published ▼
-
Qatar Petchems To Benefit From QP’s Upstream Ambition
...pco 20%) at Ras Laffan was canned in September 2014, while the $6.5bn 1.5mn t/y Al-Karaana facility (QP 80%, Shell 20%) was shelved in January 2015 (MEES, 16 January 2015). When Mr Kaabi told MEES in December 2017 that QP was launching a new “world scale” 1.6mn t/y ethane cracker it therefore ma...
Volume: 62Issue: 02Published at Fri, 11 Jan 2019 -
Saudi Firm Acwa Power Eyes Funding Options For Bumper Projects Portfolio
...ices have subsequently (and quietly) been renegotiated upwards. For concentrated solar power (CSP) the world record low award was Acwa’s offer to supply power for just US¢7.30/kWh from the 700MW fourth phase of Dubai’s MBR solar park at Seih al-Dalal 50km south of Dubai city (MEES, 22 September 2017...
Volume: 62Issue: 02Published at Fri, 11 Jan 2019 -
Egypt Delays Subsidy Reform With Economy On The Mend
...ansport fuel subsidies in 2H 2018, the first half of the country’s 2018-19 financial year. This puts the country bang on target to hit the 2018-19 budget plan of E£89bn ($5.2bn). It also marks a real-terms fall of 21% versus the E£45bn ($2.9bn) spend for 1H 2017-18 given 12% inflation. But the co...
Volume: 62Issue: 02Published at Fri, 11 Jan 2019 -
Algeria Set For 11th Straight Deficit In 2019
...dget anticipating a $17.4bn deficit. Algeria has run up cumulative budget deficits of over $100bn since 2009, with deficits recorded even in 2011-14 when oil prices were over $100/B. They have ballooned since as oil prices tanked (see charts 1 &2). 2017 was the closest Algeria has got to ba...
Volume: 62Issue: 02Published at Fri, 11 Jan 2019 -
Aramco JV Refinery On Test
...Malaysian state oil firm Petronas has begun trial runs of the CDU at the 300,000 b/d Rapid JV refinery in the southern Johor province, according to Reuters. Saudi Aramco is equal partner with Petronas in the project, having paid $7bn in 2017. The partners are looking to reach full commercial op...
Volume: 62Issue: 02Published at Fri, 11 Jan 2019 -
EDF Seeks Buyer For EDISON Egypt, Algeria Assets
...committed to the plans in an attempt to quash rumors that the company planned to quit Egypt (MEES, 21 December 2018). Edison’s other key production is in Algeria, where is has 11.25% of the 2.9bcm/y Reggane North development in the country’s far southwest which started up in late 2017 (MEES, 22 December 2017...
Volume: 62Issue: 02Published at Fri, 11 Jan 2019 -
East Med Gas Developments Gather Pace In 2019
...16 bid round, with a consortium of ExxonMobil and Qatar’s state oil firm QP winning the auction over Norway’s Statoil (now Equinor) and a joint Total/Eni bid (MEES, 29 July 2016). Eventually Total did end up drilling offshore Cyprus in Block 11 in July 2017, but failed to discover commercial qu...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Iraq: Record December Exports Fail To Mask Bleak 2019 Revenue Outlook
...Iraq’s December exports of 3.73mn b/d smashed the previous high. Key expansions mean Baghdad will break this mark in 2019 despite Opec output commitments. Iraqi oil export revenues came in at $83.7bn for 2018, up a massive 41% versus 2017’s $59.5bn. This four-year high was ac...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Saudi Asian Supplies Surged To Record High In November Amid Bumper Exports
...is means that 2018 as a whole will surely see the four countries combined Saudi takings top 2017’s previous record of 3.919mn b/d. For the first 11 months of 2018 – ie without the bumper December volumes – supplies were 3.924mn b/d, already fractionally up on the 2017 figure (see chart). Saudi Ar...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Syria Eyes Post-Conflict Gas Gains, But Bottlenecks Loom Large
...SHREEN IN EXCHANGE FOR ELECTRICITY AND WATER. CURRENT POWERGEN IS UNCLEAR. *EXPANSION OF EXISTING PLANT. SOURCE: MOE, SYRIA REPORT, MEES. SYRIA ELECTRICTY OUTPUT (TWH): TENTATIVE 2017 REBOUND AFTER 2013-16 COLLAPSE DUE TO DAMAGED POWERPLANTS AND FUEL SHORTAGES SOURCE: MOE, SYRIA RE...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Assad In From The Cold As GCC Countries Hit The Road To Damascus
...construction (MEES, 22 December 2017), any participation would prove crucial – especially considering that Russia and Iran lack the cash Mr Assad needs (see p8). The future of Syria’s relations with the Gulf kingdoms also has interesting implications for the evolution of Riyadh’s foreign policy. Under the Cr...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
King Salman Asserts Authority In Saudi Reshuffle
...e turnaround for Mr Assaf who was sacked as finance minister in October 2016. He was subsequently caught up in the infamous anti-corruption purge instigated by the Crown Prince in 2017 and detained at the Riyadh Ritz-Carlton. The new foreign minister’s key task will be to burnish the kingdom’s re...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Aramco Looks To Crack Texas With $6.6bn Shale-Fuelled Petchems Plans
...panding Motiva’s Port Arthur facilities and to capitalize on cheap US ‘shale’ feedstock (MEES, 26 May 2017). Other Aramco pronouncements also suggest that the latest plans may be only the first stage of investment. Aramco in 2017 flagged up a potential $30bn in ultimate investment in Motiva’s US op...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Aramco Adds Retail Expansion To Downstream Ambitions
...ES, 12 October 2018). Most of Aramco’s current retail sites are operated by its Motiva subsidiary, which transferred the 635,000 b/d Port Arthur refinery in Texas as well as 5,000 Shell-branded retail stations to Aramco’s ownership when Shell exited the former 50:50 joint venture (MEES, 10 March 2017...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Saudi Power Project Schedules Slide,But Outlook Stable
...ES, 5 October 2018). Saudi Arabia’s third largest power plant under development, oil-fired 3.1GW Yanbu 3, is undergoing tests, despite state-owned power and desalination plant operator SWCC in January 2017 canceling the $1.5bn EPC contract that was awarded to Korea’s Samsung and partners China’s Se...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Saudi Awards Key Desalination Plant
...wa had equity in assets with a combined capacity to generate 22.6GW of electricity and desalinate 2.7mn m³/d of water as of the end of 2017, mainly in Saudi Arabia but also in Oman, UAE, Jordan and Morocco as well as outside the Mena region (MEES, 21 September 2018)....
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Egypt: ‘Imminent’ Start Up At Key Downstream Project
...untry’s products deficit (MEES, 15 June 2018). Net products imports were 220,000 b/d for the first eight months of 2018 including 132,000 b/d of diesel and 56,000 b/d of gasoline, although all three figures were down on 2017....
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Red Sea Bidding Delayed
...urce. The bid round falls under the jurisdiction of the oil ministry’s southern Egypt focused arm Ganope, which signed a $750mn deal in December 2017 with Norway’s TGS and House-based oilfield services firm Schlumberger to compile geophysical data covering 60,000km² in the Red Sea (MEES, 26 October 20...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Brazil: 2018 Output Flatters To Deceive
...*At the start of 2018 Brazil was tipped to provide a key boost to global oil supplies as deepwater ‘pre-salt’ output continued to ramp up on the back of 2017’s record 2.62mn b/d. *Things haven’t exactly gone to plan. Not only has output not risen, at 2.57mn b/d for January-November it is ac...
Volume: 62Issue: 01Published at Fri, 04 Jan 2019 -
Iran: Khamenei Looks To ‘Resistance’ Budget For 2019
...rchases in return for being granted ‘waivers’ – MEES, 16 November), and at least some of those Mediterranean and East Asian countries that have halted buying to restart. Korea, which imported 361,000 b/d from Iran in 2017 took zero for the third straight month in November. Japan and Taiwan also took ze...
Volume: 61Issue: 51-52Published at Fri, 21 Dec 2018