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Japan’s Inpex Challenges Traditional Heavyweight Producers In Mena
30 Nov 2018
Foreign incumbents in the Mideast upstream have largely been from Europe or the US. But Asian firms are challenging the status quo. Japan’s Inpex is closing in on European major Shell and is eying more as it seeks to double global output.
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...
Mena's Top 2018 Overseas Producers ('000 b/d, net)
