African and Kenya Oil and Gas News

Updates from July, 2013

• Uganda Builds New Refinery, Kenya Upgrades. VENTURES AFRICA – Plans to construct a new refinery in Uganda and upgrade an existing one in Kenya are already afoot, according to an oil and gas analyst.
• Demand was seen from east Africa, with Tanzania’s Petroleum Importation Coordinator (PIC) likely to buy August-delivery products through tender from trading firm Augusta Energy.
submitted the lowest weighted average differentials among five offers for gasoline, gasoil and jet-kerosine, at a $44.874/t premium to a combination of Mopag and Mediterranean spot quotes. PIC’s tender called for a 100,590t cargo of 91R gasoline for delivery to Dar es Salaam. The gasoline component in Augusta’s weighed average quote was at a premium of $46.88/t to Meditteranean quotes, the second lowest behind trading firm Vitol’s $42.50/t. Trading firms Swiss Singapore, Glencore and Gapco Tanzania also participated in the tender.
• Six consultancies shortlisted for Algerian oil field development – Sonatrach to tender front-end engineering and design of Hassi Messaoud peripheral fields.
• Wood Group Wins Subsea Gig at BP Offshore Projects in Angola.

• Kenya is expected to soon issue a tender for August and September gasoline. The country’s energy ministry last bought a 362,000 bl cargo of gasoline from trading firm Gulf Energy at a discount of $11.70/t to Mediterranean quotes for 13-15 July arrival, and another 362,000 bl cargo at a discount of $8.70/t for delivery on 23-26 July.
• Oil & Gas Africa – The Gateway to the East African Oil & Gas Industry – Kenya has attracted oil & gas companies not only because of its ports and strategic location but also because the government is keen not to be left out of the exploration.
• Tullow Oil has confirmed commercial viability of Kenya’s oil and announced that it will start negotiations with the Government on development and production.

Australian Oil, Gas and Energy News

Updates from July, 2013

• OIL Search said it had discovered modest quantities of natural gas during a new exploration campaign in Papua New Guinea, but that the find had encouraged it to continue drilling.
• Woodside, Australia’s second-biggest oil company by output behind BHP Billiton, said the drop in revenue for June to $US1.3 billion – down from $US1.4 billion a year ago – was a result of an ongoing outage at the company’s Vincent oil field, which is historically Woodside’s biggest single source of oil production.
• GAS infrastructure giant APA Group has made merger proposal to gas distributor Envestra in a move that values the target at $1.98 billion.

South Korean Oil, Gas and Energy News

Updates from July, 2013

• Japan, S Korea bunker fuel premiums fall $10-15/mt on ample supply.
• Trading activity in South Korea was subdued, but demand was still expected from buyers that have yet to fully cover for supplies arriving over first-half August.
• South Korea produced 2625 MT of Greases in April 2013.
• Korean consortium wins Turkmenistan refinery order