Middle East Oil & Gas News for the week of July 24, 2020
Here are 9 key Middle East Oil & Gas News snippets from stories we are following at MEES for the week of July 24, 2020:
Chevron: The East Med Supermajor
US major Chevron is expanding in the “prolific Eastern Med” with the $5bn acquisition of compatriot Noble Energy. With the key asset a 40% operator’s stake in the 23tcf Leviathan field, the deal is a massive geopolitical win for Israel.
Iran’s Petropars Wins Key $1.3bn Contract
Petropars plans to double output at South Azadegan. Can the state firm step up to fill the void created by their sanctions-averse international counterparts?
Qatar Retakes No1 LNG Exporter Spot
Qatar hiked LNG exports for 1H 2020, moving ahead of Australia. But extra volumes aren’t heading to East Asia: India was number one, and the UK number two.
Iraqi PM Courts Iran & Saudi Arabia
This week’s high-level visits underline Baghdad’s ongoing efforts to balance
relations between its two rival neighbors.
Iran Gasoline Boost With PGS Expansion
Debottlenecking of the Persian Gulf Star condensate processing plant will enable it to produce over 300,000 b/d gasoline, providing a key boost to export revenue.
Wanted: A Stable Tunisian Government
Prime Minister Elyes Fakhfakh’s resignation has further clouded the outlook for Tunisia’s troubled economy. Stable decision-making is sorely needed.
Key Saudi Solar Plant Faces Covid Delays
Covid-19 has held up inking deals for the 2GW Sudair PV plant, whilst attempts to renegotiate lower tariffs could mean further delays.
Adnoc JV Boosts Ruwais Hub
Adnoc’s huge petchems expansion plans have received a boost with the establishment of a new JV aimed at facilitating foreign investment.
Global Gas Flaring Gets Worse In 2019
Latest World Bank figures paint a depressing picture: top three Russia, Iraq and the US all flared more. At least Covid-19 means 2020 is set for an improvement.
