OUTLOOK 2021 Iran By bne IntelIiNews January 30, 2021
POLITICAL
No-one ever expected a smooth transition from Donald Trump’s abandonment of the 2015 nuclear deal to Joe Biden re-embracing it. Neither Iran nor the US can afford to lose too much face in dealing with the other, domestic and international politics on both sides have long seen to that. Thus the current jockeying for position and leverage seen coming from Tehran and Washington. Drop the Trump sanctions and we’ll quickly get back to full compliance with the nuclear deal, says Iran. Get back to full compliance and we’ll drop the sanctions and re-enter the nuclear deal, says the US.
Refinery News Roundup: New Refineries To Increase Middle East Product Sales
Middle East oil product sales could reach 8 million-9 million b/d by 2023 as new refineries open up in the UAE, Saudi Arabia, Iraq and Oman, Glander International Bunkering senior sourcer Sean Burgin said.
“This additional volume could boost business in Fujairah, complementing bunker demand plus storage and trade activities,” Burgin told the Petrospot Middle East Bunkering Convention held online Jan. 26. Refining capacity in the Middle East is continuing to grow at pace, with a number of new, export-oriented plants and capacity upgrades due to come onstream in the coming years. S&P Global Platts Analytics expects total refining capacity in the Middle East to rise to average 12 million b/d in 2023, up from 9.9 million b/d in 2019.
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Global Casing and Cementation Hardware Market (2020 to 2025) - Growth, Trends, and Forecasts - ResearchAndMarkets.com
January 20, 2021 GMT
DUBLIN (BUSINESS WIRE) Jan 20, 2021
The global crude oil production is expected to grow at a CAGR of more than 1.65% in the forecast period of 2020-2025.
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Increasing upstream activities in regions like Middle-East and the United States are driving the need for casing and cementation hardware.
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Casing Hardware to Dominate the Market
Successful casing installation requires several tools and equipment like floating equipment, stage tools, centralizers, scratchers, casings, liners, and others.
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Iran Looks To Poach Saudi Oil Contracts With New Projects By Simon Watkins - Jan 18, 2021, 7:00 PM CST
Iran has been looking in earnest to poach major oil supply contracts from Saudi Arabia since the Tehran-backed Houthi attacks on two of the Kingdom’s key oil facilities on 14 September 2019, especially for coveted Asian customers. Following Saudi’s decision to unilaterally cut one million barrels per day (bpd) below its latest OPEC+ quota originally set last month, Tehran announced last week that the National Iranian Oil Company (NIOC) has signed US$1.2 billion-worth of contracts for eight new projects designed to significantly increase its crude oil production. Although these projects will be broadly managed by Iranian companies, they are part of a patchwork of projects that were formulated in tandem with the 25-year deal made with China in 2019, which will heavily feature Chinese companies working on a ‘contract-only’ basis, albeit lots of con