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TotalEnergies Takes FID On 1mn t/y ‘Low-Carbon’ Oman LNG Bunkering Hub
...ctor in recent years. Output has risen every year for nearly a decade reaching an all-time high of 52bcm last year, and with growth attracting increased investment from international energy majors, the upwards trajectory looks set to continue. Driven by BP’s 2017 start-up of the massive 1.5bn cfd Kh...
Volume: 67Issue: 17Published at Fri, 26 Apr 2024 -
Korea Crude Imports: UAE Volumes Surge For Q1
...*South Korea, the world’s number four crude importer, took 2.87mn b/d for Q1, up 3% on Q4 2023 but down fractionally year-on-year and well below the record 3mn b/d-plus quarterly levels hit on several occasions over 2017-19 (see chart & table). As such, notwithstanding the Covid-related de...
Volume: 67Issue: 16Published at Fri, 19 Apr 2024 -
Iraq And US Seek To Rebuild Ties Amidst Rising Regional Tensions
...lations between Baghdad and Erbil are at their lowest ebb since the region’s controversial 2017 independence referendum. On the positive side, the disputes between Baghdad and Erbil did not derail the visit. Mr Sudani made sure to include representatives from the Kurdistan Regional Government (KRG) in hi...
Volume: 67Issue: 16Published at Fri, 19 Apr 2024 -
Eni Egypt: More Zohr Woe As Reserves Downgraded
...Zohr ramped-up following its late 2017 start-up. But with Zohr output dropping from a peak of 2.74bn cfd in Q3 2021 to 2bn cfd currently on water infiltration issues, the country finds itself on the lookout to lease an FSRU as it looks to resume LNG imports in the coming months in a bid to pr...
Volume: 67Issue: 15Published at Fri, 12 Apr 2024 -
Kuwait’s KPC Plans Merger Of Refining Subsidiaries
...2017 to oversee development of the Al Zour refinery and LNG import terminal, but now its role has transitioned to managing their operations, and there could be efficiency gains if this is done in greater alignment with KNPC. Al Zour exports in Q1 equated to around a third of Kuwait’s overall re...
Volume: 67Issue: 15Published at Fri, 12 Apr 2024 -
Baghdad & Kurdistan IOCs Exchange Blame As Northern Export Halt Enters Second Year
...C executive asserts that in January accounting firm Deloitte, which has audited Kurdistan’s independent pipeline exports since 2017, shared “all contractual commercial terms that they [the Baghdad oil ministry] requested without violating the NDA [non-disclosure agreement] of contractual co...
Volume: 67Issue: 13Published at Fri, 29 Mar 2024 -
Power Surge: Saudi Arabia’s Electricity Demand Soars To New Heights
...vernment statistics, including strong gains of 7.3% growth in transportation and 7% in hospitality. Last year’s 5% rise in power consumption was the highest annual growth figure since 2017, while the surge in peak demand from 65.3GW to 70.6GW was the biggest annual increase since 2015 (see ch...
Volume: 67Issue: 12Published at Fri, 22 Mar 2024 -
Egypt Drilling: Orion Flops As Shell Kicks Off Six-Well WDDM Campaign
...hr’s December 2017 start-up, Cairo is pushing Chevron to fast-track development at Nargis in a bid to engineer a rebound (MEES, 19 January). But with Chevron yet to file a development plan, first gas here is unlikely before 2026. As such any near-term gains to Egypt’s overall output will be reliant on cu...
Volume: 67Issue: 11Published at Fri, 15 Mar 2024 -
Iran Awards Key $20bn South Pars Gas Contracts
...ded in 2017 following extensive reservoir studies to determine the optimal development rate. Iranian media has frequently carried concerns that rapid development of Qatar’s portion of the field could result in migration of gas across the boundary. Iran’s planned program is intended to reverse fa...
Volume: 67Issue: 11Published at Fri, 15 Mar 2024 -
Kuwait’s Pivot To Products Exports Yields Revenue Boost
...2024, that would be the lowest level since 2003. Meanwhile refined products exports have averaged around 850,000 b/d so far this year, putting Kuwait on track to smash 2012’s record 805,000 b/d. Crucially, having shuttered the aging Shuaiba refinery in 2017 and completed the $15.6bn Clean Fu...
Volume: 67Issue: 11Published at Fri, 15 Mar 2024 -
Kuwait Eyes 110kbd At Bahra
...23-24 financial year on 31 March. However, current output is much more modest at 45,000 b/d, perhaps due to Opec+ output constraints (see p10). Bahra, where Kuwait’s first oil well was drilled in 1936, is a mature field producing mainly from the Mauddud formation. Halliburton was brought in 2017 to...
Volume: 67Issue: 10Published at Fri, 08 Mar 2024 -
Qatar Sees Buoyant LNG Demand Outlook As It Sanctions Further Expansion
...ture LNG demand define Qatar’s approach to its expansion plans. Speaking to MEES back in 2017, Mr Kaabi justified going “full steam ahead” with LNG because “we believe so much in the demand potential for gas…This is the cleanest fossil fuel available for mankind. It is going to remain for a very long ti...
Volume: 67Issue: 09Published at Fri, 01 Mar 2024 -
Egypt Eyes More Gulf Cash After $35bn Lifeline UAE Mega-Deal
...ed for cash, this could prove politically sensitive given that Ras Gamila lies directly across from the uninhabited Red Sea islands of Tiran and Sanafir, which Egypt handed over to Saudi Arabia in 2017. The unpopular move was considered by many at the time as ceding sovereignty to Riyadh (MEES, 4 Au...
Volume: 67Issue: 09Published at Fri, 01 Mar 2024 -
Egypt Upstream Output Set To Fall Further In 2024 As Zohr Slump Continues
...LNG exports (MEES, 5 January). Production plumbed a new 6-year monthly low of 5.24bn cfd for December, the lowest figure since the start-up of the country’s workhorse Zohr field in December 2017 (see p4). And it will only likely get worse in 2024. Eni-operated 21.5tcf Zohr, which contributed 36...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Egypt Gas Crunch To Intensify Even Amid Record Israel Imports
...vember 2017, the month before the start-up of the country’s giant Zohr field (MEES, 15 December 2017). Output has fallen further to around 5.0bn cfd currently, MEES understands. Ominously for Cairo, LNG exports have remained threadbare in recent months despite the record receipt of Israeli gas. Egypt wa...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Qatar Breaks Ground At $6bn Petrochemical Complex
...pacity in 2017, the facility’s scale has twice been revised up, to 1.9mn t/y in 2019 and subsequently to 2.08mn t/y. The new complex is slated for late-2026 start up when it will lift Qatar’s total petrochemicals capacity to 14mn t/y (MEES, 13 January 2023). The laying of the foundation stone ma...
Volume: 67Issue: 08Published at Fri, 23 Feb 2024 -
Eni Eyes ‘Best Fast-Track Development’ For Cyprus Cronos Find
...tal Cyprus blocks are due to expire in 2025, with Nicosia expected to agree to renewals despite several of the blocks not having been drilled since being awarded as far back as 2017. 2026 may also see Eni and Total revisit the Cuttlefish prospect on Block 3 where Turkish warships prevented dr...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Sudan-Iran Diplomatic Thaw Raises Stakes In Battle For Red Sea Influence
...men (MEES, 20 January 2017). Iran and Sudan committed to reopening their respective embassies in the other’s capitals amid the “opening of a new chapter” between Tehran and Khartoum, according to an Iranian official statement. TIPPING THE SCALE Ç The diplomatic br...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Oman’s Key Fields Hit By 2023 Output Constraints
...p created by ‘voluntary’ Opec+ cuts (MEES, 7 April 2023). KHAZZAN’S FIRST SLIP Oman’s gas output capacity gains of recent years began with the 2017 start-up of the massive Khazzan tight gas field on Block 61 (BP 40%op, OQ 30%, PTTEP 20%, Petronas 10%: MEES, 7 July 2023). But for th...
Volume: 67Issue: 07Published at Fri, 16 Feb 2024 -
Oman’s Long-Awaited 230,000 b/d Duqm Refinery Gets A Right Royal Reception
...y to inaugurate the Middle East’s newest refinery. The ceremony caps nearly twenty years of planning and work on the refinery (MEES, 4 December 2006), with start-up repeatedly delayed from its original 2012 plan (MEES, 12 October 2012). Kuwait joined the $9bn project in 2017 with the signing of...
Volume: 67Issue: 06Published at Fri, 09 Feb 2024