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Middle East Oil Exports In 2024: A Year Of Transition
...sily breaking 2021’s previous record of 20.0%. Crude still accounts for nearly 80% of total exports, but with more than 22mn barrels of oil being exported from the region every day, a shift of a single percentage point equates to substantial volumes: refined products exports are up by 1.5mn b/d since 2017...
Volume: 67Issue: 51/52Published at Fri, 20 Dec 2024 -
Saudi Arabia On Course For Trade Deficit With China
...s largest partner of all; China (see chart 1). China has been the largest source of imports for Saudi Arabia since 2017, after jousting with the USA for the top spot in the years prior (see chart 2). The value of Chinese imports has increased each year with the exception of Covid-hit 2020. Last ye...
Volume: 67Issue: 51/52Published at Fri, 20 Dec 2024 -
Oman: Tethys Flops In Block 58
...16 December. Output is in decline at Tethys’ only producing asset, Blocks 3&4 (CCED 50%op, Tethys 30%, Mitsui E&P 20%) where production has averaged 26,000 b/d so far this year, down 35% from its 2017 peak. The firm recently submitted a field development plan for Block 56, though volumes he...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
Assad’s Downfall Reshuffles Regional Order
...d previously headed the ‘Syrian Salvation Government’ created by HTS in 2017 to administer its territory in Idlib province (see map). SYRIA’S NEW CONTROL MAP AND OIL & GAS INFRASTRUCTURE HTS has a problematic history, to say the least. Until 2016, it was known as Ja...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
UAE Gas Growth Outlook Revised Up Sharply
...st, with its abundance of low-cost energy resources certainly has a strong business case to attract AI data centers, and the UAE has made no secret of its plans to capitalize on this. It appointed a minister of state for artificial intelligence in 2017, launching the UAE strategy for AI in the same ye...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
Cyprus Hopes For Mega Exxon Elektra Find To Jolt Its Gas Sector To Life
...permajor’s exploration position in a region where it has no current output. Exxon was awarded blocks 10 and 5 offshore Cyprus in March 2017 and November 2021 respectively, making the Glaucus find in the former on 2019 (MEES, 1 March 2019). It has since added three large Egyptian Mediterranean blocks, with Qa...
Volume: 67Issue: 50Published at Fri, 13 Dec 2024 -
BP’s Eyes Raven Rebound As Egypt Output Slump Continues
...ypt, but its biggest project, West Nile Delta (WND) which started-up in 2017, has witnessed startling decline rates. In a bid to arrest that decline BP earlier this year launched a two-well infill drilling campaign at the Raven field, where output having hit 800mn cfd following 2021 start-up has since ha...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Kuwait Pushes Back Upstream Capacity Target To Next Year
...elds, with KOC closing on its target of bringing overall conventional North Kuwait capacity to 700,000 b/d, just below the 2017-18 capacity peak of 760,000 b/d (MEES, 12 May 2023). KOC is increasingly deploying water injection and expensive chemical EOR techniques, while upping its drilling and workover op...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Saudi Crude Exports Slump For Q3 On Record Oil Burn, Bumper Throughputs
...ghest on record behind 3Q 2017. Adding in direct crude burn, the figure of 2.78mn b/d was a nine-year high. 1: SAUDI CRUDE SUPPLY*: EXPORTS WERE SQUEEZED TO A NEAR 10-YEAR LOW 5.7MN B/D FOR Q3 (MN B/D).... 2: ...A RECORD LOW 63% CRUDE SUPPLY SHARE. IN CONTRAST, THE SHARE REFINED AN...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Will Iraq Be Caught In The Crossfire Of Trump’s Iran Policy?
...restart Kurdish exports to Turkey’s port of Ceyhan. This is especially the case given rumors from Washington that pro-Kurdistan names are being touted for senior positions at the Departments of State and Energy. But the KRG has also painfully learned, from its failed independence referendum in 2017...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Tunisia Oil & Gas Output Falls To New Record Lows
...8,000 b/d was hit in 1980. *Previous lows of 30,000 b/d plumbed in 2017 and 28,000 b/d in 2020 were linked to country-wide strikes (MEES, 2 June 2017) and Covid, respectively. This year’s new lows are the culmination of a chronic lack of investment: no development wells were drilled in Tunisia du...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
QatarEnergy Expands In Egypt Amid US LNG, Namibia Exploration Setbacks
...oust Doha-backed Islamist president Mohamed Morsi. Further straining relations, Egypt also participated in the Saudi-led 2017-2021 embargo of Qatar, but that all appears to be water under the bridge, especially if Qatar’s deep pockets can help Cairo fix its finances. MAJOR PA...
Volume: 67Issue: 46Published at Fri, 15 Nov 2024 -
Oman Sweetens Terms In A Bid To Entice IOCs To ‘Complex Assets’
...troleum Development Oman (PDO), to pioneer unique development techniques including enhanced oil recovery (MEES, 5 July). The sultanate also possesses sizeable unconventional gas assets including the massive 1.5bn cfd Khazzan & Ghazeer tight gas development which, when it started up in 2017 helped sp...
Volume: 67Issue: 45Published at Fri, 08 Nov 2024 -
Qatar Crude Output Tops 600,000 b/d For First Time Since 2018
...d TotalEnergies (30%) since July 2017 (MEES, 28 July 2017). It is an extension of Iran’s 25,000 b/d South Pars Oil Layer (SPOL). Prices are set by QatarEnergy each month following a monthly-tender which serves as an important indicator for regional spot market sentiment. The field’s output gains we...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Tehran Takes Wary View Of US Presidential Elections
...timate say rests with Supreme Leader Ayatollah Ali Khamenei, who sets Iran’s overall policies. LESSER OF TWO EVILS? That said, a look at both candidates’ track records – Mr Trump’s presidency from 2017 to 2021 and Ms Harris’ tenure under President Joe Biden – shows that they were inclined to...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Saudi Halts Bab al-Mandeb Fuel Oil Transfers
...livered in October is the smallest monthly figure in Kpler’s records dating back to January 2017. In reality, it will have been the smallest in at least a decade, if not this century, given how embedded the Gulf-Red Sea route is in Saudi Arabia’s supply chain. Key facilities such as the 6GW Rabigh and 5....
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Saudi Energy Minister: We Will Make Money From The Energy Transition
...edstock through ten projects. The improved generation efficiency this will yield is a key part of plans to boost overall efficiency from 40% last year to 44% by 2030 – up from 37% in 2017. The conversion projects aren’t named, but with an average capacity of 2.3GW per project they clearly entail the up...
Volume: 67Issue: 44Published at Fri, 01 Nov 2024 -
Gulf NOCs Target Cuts To Upstream Emission Intensity
...stream output (CO2e/boe) which they aim to reduce to 17kg CO2e/boe by 2025 from a 2017 baseline of 23kg. The CO2e measure includes emissions of methane – a far more potent greenhouse gas, especially over the short term – at a conversion factor of 1kg methane = 29.8kg of CO2e. Gulf NOCs fall into two br...
Volume: 67Issue: 43Published at Fri, 25 Oct 2024 -
Tunisia: 200mw Solar Plan
...lls for proposals in the past have met with threadbare success. The first such ‘call for projects’ in 2017 saw four projects totaling 22MW built, including the country’s only 2023 start-up – 10MW at Meknassy – whilst the three subsequent rounds (2018, 2019, 2020) have resulted in a princely 6MW of ca...
Volume: 67Issue: 43Published at Fri, 25 Oct 2024 -
Cyprus’ Cronos Gas Find: Eni & Total At Odds Over Development Plan
...2017,” the government source tells MEES. “Maybe Total is unhappy that Cronos gas would go via Eni-operated facilities, potentially to an Eni-operated LNG export plant at Damietta, where it would have zero control over the gas,” the source speculates. Chevron had no such qualms when it fi...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024