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Iraq Readies Baiji Unit
...rect crude burn in power plants, it is replacing the crude with heavy fuel oil from refineries. In 1H 2018, Iraq burned 289,000 b/d of fuel oil – compared with 199,000 b/d in 1H 2017 – out of a total 334,000 b/d of oil burned (MEES, 24 August). Restarting Salahuddin-1 would boost Iraq’s operable cr...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Israel Refiners Pump At Record Levels
...erating at or above 100% capacity for over a year, Paz saw output dip in Q2 with the June completion of an off -gas recovery unit. The unit began operation in July, with Paz “now close to operating at full capacity,” the firm says in its Q2 report, released this week. In 2017 Israel consumed more ga...
Volume: 61Issue: 35Published at Fri, 31 Aug 2018 -
Aramco JV Takes Saudi Petchems To ‘Next Era’ With Bigger Projects Planned
...Aramco is squeezing more value out of Saudi oil and gas through two key petchems JVs: Sadara, and the near-complete Rabigh-2. Saudi Aramco, with the belated release of its 2017 Annual Review describes itself as “the world’s leading integrated energy and chemicals company,” which besides pr...
Volume: 61Issue: 34Published at Fri, 24 Aug 2018 -
Saudi Petchems Firms Report Best Profits Since Crude Price Collapse
...88bn) for the second quarter of 2018, with some of the boost attributable to strong oil prices. State-led giant Sabic disclosed a second quarter net profit of SR6.7bn ($1.79bn), up 81% on Q2 2017, while the combined quarterly profits of the other smaller firms topped $1bn for the first time (see ch...
Volume: 61Issue: 32Published at Fri, 10 Aug 2018 -
Aramco Seeks Rapid $8bn
...integrated 3.5mn t/y petchems complex (MEES, 3 March 2017). DOUBLE REFINING CAPACITY Aramco plans to double its global net refining capacity from 5.4mn b/d now to 10-12mn b/d and to increase global petrochemicals capacity to 34mn t/y from the current 12mn t/y. This plan will li...
Volume: 61Issue: 32Published at Fri, 10 Aug 2018 -
Cash-Rich Gulf State Refiners Seek Overseas Capacity, Integration
...18mn b/d, while refinery throughputs have risen from 5.41mn b/d in 2009 to a record 7.18mn b/d in 2017 (see charts). Gulf refinery throughputs averaged around 6.97mn b/d in the first half of 2018 but this figure is likely to increase as consumption of fuels for both power generation and transport rises du...
Volume: 61Issue: 31Published at Fri, 03 Aug 2018 -
Saudi Products Exports At Record Highs
...udi refinery runs averaged just over 2.60mn b/d in May, an 18% increase on the 2.2mn b/d reported for April when most of the Satorp work was carried out, but short of the almost 2.83mn b/d record throughput of December 2017 (see p7). And Satorp came back with a bang, taking to Twitter on 9 July to an...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Aramco Eyes Sabic Stake
...sewhere. Given that the planned Aramco IPO that was intended to provide PIF with $100bn appears to have stalled, there is clear incentive for such a move. Sabic’s total 2017 output was 71.2mn tons/year, mainly of petrochemicals – including intermediate products – but also including around 5mn t/y of st...
Volume: 61Issue: 29Published at Fri, 20 Jul 2018 -
Middle East Downstream Eyes Bunkers Boost From IMO Rules
...ys. The IEA expects additional gasoil/diesel to come from the US, followed by the Middle East, Russia and China. Saudi Arabia has developed some refineries targeting overseas sales, exporting a record 516,000 b/d of diesel in 2017. Similarly, the UAE exported a record 92,000 b/d of diesel last year, al...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018 -
$11bn Egypt Petchems Project Belatedly Green Lighted
...ough Egypt’s overall economic fortunes have improved over the last 18 months the country’s overall quarterly trade deficit remains stuck at around $9bn (an annual $36.5bn for 2017) as higher prices for oil imports have cancelled out a rise in export earnings (see p13). Tahrir’s anticipated export re...
Volume: 61Issue: 27Published at Fri, 06 Jul 2018 -
Adnoc Joins Aramco In $44bn Indian Refining And Petchems Venture
...dian firms will hold 50% equity (IOC with 25%, BPCL and HPCL each with 12.5%). RRPCL was formed by the Indian firms in June 2017 to develop a 1.2mn b/d refinery comprising three 400,000 b/d crude distillation units (CDUs), which will be integrated with an 18mn tons/year petchems complex. While Ad...
Volume: 61Issue: 26Published at Fri, 29 Jun 2018 -
Saudi Petchems JVs Get Greedy For Naphtha, Cutting Into Exports
...om the integrated 400,000 b/d Petro Rabigh refinery (MEES, 20 April). RUNS FALL Some of the reduction in naphtha availability after January can be attributed to lower refinery runs, which fell away from the December 2017 record of 2.828mn b/d to just 2.200mn b/d for April. Work at two re...
Volume: 61Issue: 25Published at Fri, 22 Jun 2018 -
Egypt Looks To Delayed Midor Expansion, ERC Start-Up To Ease Products Shortfall
...0,000 b/d in 2017 while gasoline imports averaged 90,000 b/d (MEES, 26 January 2018). While additional Midor capacity could cover just 8% of 2017 diesel imports and 13% of gasoline, next year’s planned start-up of the Egyptian Refining Company (ERC) 81,500 b/d hydrocracker, will make a sizable dent in th...
Volume: 61Issue: 24Published at Fri, 15 Jun 2018 -
Iran: $19bn Korean Deals Threatened As Daelim Pulls Plug Over Funding Woes
...al to be completed – in the near-year between its original signing of the deal at the start of 2017 and Trump entering office (MEES, 13 January 2017). The contract was awarded to Daelim by Iranian state refiner NIORDC in early 2017, with a view to boosting output of light products and reducing fu...
Volume: 61Issue: 23Published at Fri, 08 Jun 2018 -
Algeria’s Planned Hassi Messaoud Refinery: Chinese, Korean Firms In The Running
...trojet. The planned Hassi Messaoud refinery is the only remaining element of once-ambitious plans to build four new 5mn t/y refineries. The original target date was 2017 (MEES, 21 September 2012), but this came and went with the 2016 award of a FEED contract to Amec Foster Wheeler subsequently cancelled. So...
Volume: 61Issue: 22Published at Fri, 01 Jun 2018 -
Kuwait Seeks $2.6bn Finance For Al-Zour LNG Plans
...intends to integrate petrochemicals plants (see table). K-sure signed an agreement with KPC in October 2015 – before Kipic was formed to operate the Al-Zour downstream and LNG operations, which it took over in May 2017 – to provide $6bn of support for Korean companies involved in two refinery pr...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
Mubadala Goes Global
...troleum 44% and Russian state fund RDIF 5%. Gazprom Neft says the JV’s fields in Western Siberia have 2P oil and gas reserves of 40mn tons (300mn barrels of oil equivalent) and that oil production in 2017 totaled 1.6mn tons (33,000 boe/d). Alongside domestic consumption, the company exports crude through th...
Volume: 61Issue: 21Published at Fri, 25 May 2018 -
UAE’s Adnoc Plans $45bn Five-Year Downstream Expansion
....4mn t/y by 2025 under Adnoc’s 2030 Strategy unveiled in November, the strategy is now taking shape (MEES, 1 December 2017). Adnoc says the program will upgrade the Ruwais complex "to produce greater volumes of higher value petrochemicals and derivative products.” Central to the plan is the co...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Algeria Advances Downstream Plans
...0,000 t/y polypropylene plant (PP). Sonatrach (51%) and Total (49%) plan to start front-end engineering and design this summer. Feedstock for the PDH unit will be locally produced propane: the requirement will be up to 23,000 b/d. Algeria produced just under 500,000 b/d of NGLs in 2017. Total is a key fo...
Volume: 61Issue: 20Published at Fri, 18 May 2018 -
Saudi Petchems Sector Gets Oil Price Boost As Sabic, Sipchem Eye Expansion
...ar. And combined net income fell short of the bumper returns in 3Q 2017, which neared $9bn for the first time since crude prices plunged in late 2014 (see chart). State-led Sabic, the biggest Saudi petchems firm by far, attributed its Q1 income boost to higher average selling prices and sales vo...
Volume: 61Issue: 19Published at Fri, 11 May 2018