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Indian Oil and Gas Market Update Oct 2013

Oil and Gas Market Update for covering entire month of September 2013

  • India imported most of its Base Oil from different countries like Korea, USA, UAE, Singapore
    during Jan to July 2013.
  • India Introduces New Synthetic Esters Standard for Transformers.
  • SN 150 CFR India prices down by USD 45 PMT in September 2013 as compared to previous
    month price.
  • BS 150 CFR India prices increased by 2% in September 2013 as compared to previous month
    price.
  • Indian state Oil PSU’s IOCL/HPCL/BPCL prices becomes bearer.
  • J 500 CFR India prices up by 1% in September 2013 as compared to previous month prices.
  • Base Oil J‐150/N ‐ 100/N‐150/N‐250 grades imports of India comprises 49% of its total imports
    during July 2013.

Pakistan Oil and Gas Update Oct 2013

Oil and Gas Market Update for covering entire month of September 2013

  • OMV makes new gas discovery in Pakistan ‐ OMV has announced the discovery of gas and
    condensate in the Sofiya‐2 exploration well in the Mehar exploration license in the Sindh province of
    Pakistan. The presence of hydrocarbons was proven through wireline logging and testing operations.
    During testing, a total of 18 million scfd of gas plus an additional 1,550 barrels of condensate (gross
    4,500 boepd) flowed from the Ranikot formation.
  • The Pakistan Petroleum Limited (PPL) has successfully completed production testing at its
    exploration well Adam X‐1, located in district Sanghar, Sindh. PPL has a 65 per cent working interest in
    the block.

Europe and UK Oil and Gas Market Update Oct 2013

Oil and Gas Market Update for covering entire month of September 2013

  • European FOB Export prices for Group I firmes up.
  • Base Oil Group II prices in Europe domestic market firms up.
  • Across Europe’s oil and gas industry, 2012 was a busy year with a large oil discovery offshore
    Ireland, strikes in Norway, the lifting of drilling bans in Italy and the UK and the resolution of the TNK‐BP
    saga. Major discoveries in the North Sea were rather thin on the ground in 2012, particularly when
    compared to the previous year’s Johan Sverdrup discovery of up to 3.3 billion barrels of oil. In July,
    Statoil made a gas/condensate discovery at its King Lear prospect in the Norwegian North Sea
    amounting to between 70 and 200 million barrels of oil equivalent, while Total announced at the start of
    December that it had found up to 75 million barrels of oil at its Garantiana prospect.

USA Oil and Gas Market Update Oct 2013

Oil and Gas Market Update for covering entire month of September 2013

  • First commercial North American GTL plant planned ‐ What may be the first commercial smallscale
    gas‐to‐liquids (GTL) plant in North America has been announced by Pinto Energy LLC, Houston, to
    be built near Ashtabula, Ohio, on Lake Erie, northeast of Cleveland. The Ashtabula GTL project will install
    a 2,800‐b/d plant on 80 acres to convert natural gas from the Utica and Marcellus shales into solvents,
    lubricants, and waxes, as well as transportation fuels. Pinto selected Velocys PLC’s Fischer Tropsch
    technology. It said it has agreed to commercial license terms with Velocys and made a down payment
    towards the FT reactors.
  • Eco‐Tek ships first lubricants order to Peru.
  • Shale boom remakes US energy, economy.
  • US refiners hike the finish lubricant price in the range of 3% to 6%.

Egypt Oil and Gas Market Update Oct 2013

Oil and Gas Market Update for covering entire month of September 2013

  • BP makes Egypt gas discovery ‐ UK oil company BP makes find at deep water East Nile Delta
    concession.
  • RWE Dea launches gas production in Egypt ‐ Germany’s RWE Dea has announced its first
    production of natural gas from the Disouq concession in Egypt’s Nile Delta.
  • Apache and Sinopec in $3.1bn Egypt asset deal ‐ Apache Corporation and Sinopec International
    Petroleum Exploration and Production Corporation (SIPC) have entered into a US$3.1 billion agreement
    for the sale of a 33 per cent minority share of the US company’s Egyptian upstream business. The deal
    comes as part of a global strategic partnership between Apache and SIPC, the international arm of
    China’s Sinopec, to jointly pursue global upstream oil and gas projects. This is Sinopec’s first entrance in
    Egypt’s upstream sector.
  • Egypt and Kurdistan owe more to Dana Gas, company says ‐ In Egypt, $290 million of invoices
    have not been paid, $210 million of which is overdue.

Iraq Oil and Gas Market Update Oct 2013

Oil and Gas Market Update for covering entire month of September 2013

  • Iraq to exceed 2013 oil production target ‐ Al‐Shahristani confident production can reach 3.7
    million barrels a day.
  • Iraqi Kurdistan plans new national oil company ‐ Proposals for new Kurdistan National Oil
    Company to be considered by new parliament.
  • Iraq finalising tender of Jordan oil pipeline ‐ Tender expected to be issued in September for
    estimated $10bn Jordan pipeline.
  • Iraq awards four drilling contracts worth nearly $350m ‐ US’ Weatherford and Chinese firms win
    deal for 39 oil wells.
  • Iraq sets out $360bn spending plan for next five years ‐ National Development Plan sets
    priorities for the Iraqi government up to 2017.
  • UAE developers sign deal for Iraqi housing project ‐ Scheme involves the construction of 30,000
    residential units.

Iran Oil and Gas Market Update Oct 2013

Oil and Gas Market Update for covering entire month of September 2013

  • Iran drives regional steel production growth in August ‐ Middle East and Africa output up 3.9 per
    cent as Iranian production expands 13.2 per cent.
  • UK asks for Iran sanctions exemption to restart North Sea field ‐ Brussels and Washington
    considering allowing BP‐Iran joint venture to restart operations at Rhum field.
  • Iran agrees refinery revamp deal with Chinese and Korean groups ‐ Sinopec will lead the $1.5bn
    expansion of the Esfahan oil refinery in central Iran, reports local media.
  • ran to export gas to Oman ‐ Countries reach understanding on gas exports.

Bahrain Oil and Gas Market Update Oct 2013

Oil and Gas Market Update for covering entire month of September 2013

  • Bahrain growth hits 5.2 per cent ‐ Restoration of production at Bahraini offshore oil field is
    driving economic growth.
  • New fertiliser projects in Bahrain and Qatar will boost GCC production capacity ‐ Operations will
    complement large Saudi Arabian schemes currently under construction.
  • Bapco receives project management bids for $9bn Sitra refinery expansion ‐ Bahrain oil
    company also shortlists contractors for design contract due to be released in 2014.
  • Bahrain Airport Company invites interest for environmentally‐friendly airport terminal deal ‐
    Deadline for prequalification documents set for 23 October.

Oman Oil and Gas Market Update Oct 2013

Oil and Gas Market Update for covering entire month of September 2013

  • Oman: Power station ‐ Engineering, procurement and construction of a power station.
  • Contractor in front for Oman’s Wave Kempinski ‐ New hotel will be built near Muscat.
  • Oman floats new tenders for road projects ‐ Contracts estimated to be worth a total of $100m.
  • Oman: Garden maintenance and irrigation works ‐ Carrying out maintenance and irrigation of gardens.
  • Oman extends bid deadline for package two of Batinah Expressway ‐ New deadline for
    retendered contract is 21 October
  • Oman revives regional airport projects ‐ Oman Transport Ministry tenders passenger terminals
    at Sohar and Ras Al‐Hadd.
  • Oman and Iran approve $60bn gas supply deal ‐ Oman and Iran have signed a 25‐year deal for
    the Islamic Republic to supply the non‐OPEC GCC state with natural gas, it is said to be the biggest
    economic agreement between the two countries. The US$60 billion deal, announced on Sunday and
    thought to be the resurrection of initial discussions in 2007 related to such a project between the two
    countries, is expected to see Iranian gas flow to Oman via a subsea pipeline. The Iranians have said that
    sweet gas from Iran’s Kish island in the Arabian Gulf could be the likely source.