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Scatec Starts Egypt Solar Plant
...om a 50MW project completed in December 2017. However, MEES analysis of progress at Benban suggests that other projects may also have started up in recent weeks whilst over 1GW of capacity could be operating by year-end (MEES, 26 March). Benban development got a key boost when the European Bank for Re...
Volume: 62Issue: 15Published at Fri, 12 Apr 2019 -
Saudi Opens Iraqi Consulate
...Saudi Arabia has reopened a consulate in Iraq for the first time since 1990 as Riyadh advanced efforts to warm ties with Baghdad. Indications that Saudi Arabia was adopting a more conciliatory approach towards Iraq emerged in 2017 as the kingdom sought to woo its neighbor away from regional ri...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Aramco: Riyadh Refinery Deasphalter Award
...ut down in early 2017 for the tie-in of units including a new naphtha splitter and diesel hydrotreater and the debottlenecking of a hydrocracker as part of a clean fuels project to reduce the sulfur content of produced fuels to less than 10ppm (MEES, 3 March 2017). Refiners across the GCC are in...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Iraq Exports Slump In March
...Iraqi crude exports plummeted 244,000 b/d in March to their lowest levels since October due to Opec+ compliance cuts (see p9) as well as weather-related issues. Southern exports slumped to 3.255mn b/d – the lowest since September 2017 – after reported flooding hampered output from the 24...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
Brazil Output Down
...Key non-Opec producer Brazil saw output fall to 2.40mn b/d in February, the lowest level in almost three years, a combination of delayed start-ups at key offshore fields and declining output at mature onshore acreage. 2018 output averaged 2.58mn b/d, down from 2017’s record 2.62mn b/d (ME...
Volume: 62Issue: 14Published at Fri, 05 Apr 2019 -
…Keeps Israel Steady
...ficit widened from 1.9% of GDP in 2017 to 2.9% last year and Fitch forecasts it to widen even further to 3.5% of GDP in 2019 before narrowing to 3.0% in 2020. “Israel’s macroeconomic performance has been impressive and the economy remained buoyant in 2018, with real GDP growth of 3.3%, low un...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Qatar Establishing Shariah-Complaint Energy Bank
...nancing, and that this will be progressively scaled up to the targeted $10bn. The institution will provide financing to energy projects both overseas and domestically. Despite being subject to an economic embargo by neighboring states since June 2017, Qatar shows no sign of reigning in its hydrocarbon-ba...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Saudi China Volumes Surge
...n b/d, a level never before breached, culminating in a record 2.13mn b/d in January (the latest available data, see p6). CHINA’S TOP 4* CRUDE SUPPLIERS: SAUDI ARABIA CHALLENGES RUSSIA FOR No.1 SPOT (‘000 B/D) *BASED ON 2018 (& 2017) VOLUMES. BRAZIL, WITH 1.04MN B/D, WAS AHEAD OF IRAQ FOR JA...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Sabic Merging Petrokemya & Sadaf Units
...clude ethylene as well as styrene and ethylene dichloride, which are respectively used to make ABS and PVC. Sabic aims to complete the merger during the second half of 2019. Sabic bought 50% partner Shell out of Sadaf for $820mn in 2017, terminating a joint venture deal due to end in 2020 (MEES, 27 Ja...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Gulf Crude Exports To Korea On The Rise
...ghest since October 2017 and 452,400 b/d from Kuwait. Although volumes from Kuwait are down on month-ago levels they are above the 2018 average of 447,000 b/d. Volumes from Qatar though fell to 65,800 b/d, the lowest MEES has on record dating back to January 2008, while Korea imported a record 43...
Volume: 62Issue: 10Published at Fri, 15 Mar 2019 -
Oman: Junk Rating
...an a sub-investment rating in late 2017 (MEES, 24 November 2017); Fitch followed suit at the end of 2018 (MEES, 21 December 2018). Moody’s says the “key driver” of its downgrade is the “expectation that the scope for fiscal consolidation will remain more significantly constrained by the go...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Aramco 100k B/D Upgrading Feed
...pacity Rabigh refinery on the Saudi Red Sea coast produced just over 100,000 b/d of fuel oil in 2016 and 2017. In a filing to the Saudi Stock Exchange (Tadawul) on 27 February, Petro Rabigh – which is owned 37.5% each by Aramco and Sumitomo with the remaining 25% of shares traded on Tadawul – in...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
Kuwait Set For First LNG Imports Of The Year
...Sahla LNG tanker docked alongside it on 26 February, carrying Kuwait’s first LNG supplies of the year. Al Sahla had not unloaded by the time MEES went to press, so no imports will be registered for February. Final figures are not yet out, but imports last year will have exceeded 2017’s record 3....
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
Mubadala Ties Up Thailand Contract
...und. It also operates the adjacent Andaman I, and has a non-operating stake at Andaman II. Mubadala reports current net output of 360,000 boe/d from its portfolio, up from 320,000 boe/d in 2017. The boost was largely due to its acquisition of 10% at Egypt’s Zohr in March 2018 (MEES, 20 April 2018). ...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
China LNG: Record January Imports; Record Qatar, Oman Volumes
...an, having only ever supplied six cargoes to China to Q3 2017, has now supplied 11 in the last three months: four in November, three in December and four (188,000 tons) in January. Korea is Oman’s top customer taking 360,000 tons (six cargoes) for January, in line with average 2018 deliveries (MEES, 18...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
Chevron, Genel 2020 KRG Vision
....9%, Shamaran 20.1%, Marathon 15%, KRG 25%) in July 2017 (MEES, 14 July 2017). Momentum is again building in Kurdistan’s oil sector, and Chevron is not the only US Major eying production startup. ExxonMobil is developing the Baeshiqa license (DNO 32%op, ExxonMobil 32%, Turkish Energy Company 16%, KR...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
Iraq-Saudi Border Crossing Progresses
...ghdad – partly in a belated recognition that rebuffing the Iraqi government might help counter Iran’s stronghold there (MEES, 27 October 2017). The Saudis agreed to reopen the crossing in August 2017 (MEES, 1 September 2017), and the move is expected to facilitate trade and more movement between the two co...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Adnoc Starts Pre-FEED For New Refinery
...noc Refining earlier this month restarted the residue fluid catalytic cracker (RFCC) at its 417,000 b/d Ruwais West refinery. The key unit was out for two years after being damaged in an early 2017 fire. The RFCC shutdown forced Adnoc to export fuel oil normally processed there while importing re...
Volume: 62Issue: 08Published at Fri, 22 Feb 2019 -
Kurdistan’s Tawke Field Reserves Downgrade
...The Tawke block’s (DNO 75%op, Genel 25%) Peshkabir field has been covering up for sizeable production declines at the main Tawke since late 2017. Output was a healthy 128,000 b/d in January, but the Tawke field’s was just 74,000 b/d against 54,000 b/d - a 21.3% annual decline (MEES, 8 Fe...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019 -
Saudi Crude: Top In Korea
...7,000 b/d in 2018, up more than 120,000 b/d on 2017 volumes, including a record 434,000 b/d in December and 269,000 b/d in January. Volumes from Algeria also more than doubled to 44,200 b/d, translating into a 41.5% rise to $1.264bn in Algeria’s export earnings from Korea. Both Algeria’s Saharan Blend and Ea...
Volume: 62Issue: 07Published at Fri, 15 Feb 2019