When it comes to Mena oil production, France’s Total is undoubtedly top dog with over 500,000 b/d in net output (MEES, 23 November). But behind Total, a chasing pack is jostling for the No.2 spot which looks set to be snatched by Chinese state-firm CNPC in an outcome that would have appeared unthinkable just a few years previously (MEES, 25 May).
CNPC’s Mena output is set to average more than 400,000 b/d in 2018, but it’s not the only Asian firm to have substantially increased its regional footprint in recent years. Japan’s Inpex – through its Jodco subsidiary – is currently producing around 220,000 b/d, placing it just behind Anglo-Dutch major Shell (see chart 1). (CONTINUED - 858 WORDS)