Middle East Oil & Gas News for the week of July 10, 2020
Here are 9 key Middle East Oil & Gas News snippets from stories we are following at MEES for the week of July 10, 2020:
Egypt Bags Supermajor Full House
Global exploration pullback? Not in Egypt with Chevron, Shell, Total and BP bagging key frontier Mediterranean acreage after Exxon signed up earlier in the year. Key regional offshore player Noble Energy is also entering the country.
Libya Plans Output Rebound
Libya’s NOC on 10 July announced a country-wide restart of oil exports as the first 730,000 barrel tanker loaded at Es Sider. The path ahead is tortuous.
Lebanon Blackouts Add To Despair
Fuel shortages mean Lebanonwide blackouts, as the power sector falls victim to economic crisis. Iran and Iraq are touted as quick fixes, but problems are systemic.
China’s UEG Plots 260kb/d At Iraq Block 9
China’s United Energy is pushing full-steam ahead at Faihaa oil field. Output is set to quadruple in the next three years and hit 260,000 b/d by 2026.
Saudi Plans World-Beating Neom Hydrogen
A highly-ambitious $5bn project to produce and distribute hydrogen using electricity from renewables is the first key Neom project.
Masdar: Middle East Renewable Pioneer
After a slow start, renewables are gaining ground in the Middle East. Masdar, renewable energy arm of Abu Dhabi state investor Mubadala, is front and center.
Israel: More Gas, More Litigation
With Egypt exports low and output capacity at record levels, legal threats abound as Israel’s producers compete with each other, and LNG, for market share.
Iran Leans On Petchems As Crude Falters
Iran’s crude exports are at a multi-decade low. But scrutiny has been much less on volumes of gas and petchems which are running at near-record levels.
Qatar Crude Exports Firm As Neighbors Cut
Having walked away from Opec, Qatar crude production continues unaffected by the Opec+ output deal whilst it cashes in on the resultant boost to prices.
