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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)
DATA INSIDE THIS ARTICLE
|chart||1: Mena’s Top Overseas Producer, 2018*: Inpex Lags Traditional Heavyweights But Gap Is Closing ('000 B/D, Net)|
|chart||2: Inpex Middle East Output ('000 Boe/D)* Dips Over Opec Cuts, Abu Dhabi Offshore Reshuffle But Upwards Trend To Resume|
|table||Inpex Abu Dhabi Stakes And Current Net Output ('000 B/D)|