World-wide Oil and Gas Market Update Oct 2013

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

  • POL price hike fuels Opposition’s walkout.
  • Chemtura Petroleum Additives Business Announces Price Increase.
  • Shell launch new centre at Imperial for research into fuels and lubricants.
  • Shell Breaks Ground on Indonesian Lubricant Blending Plant
  • Base Oil Group I prices in the Asian region firms up.
  • Shell Breaks Ground on Bekasi Lubricant Plant.
  • Base Oil SN ‐150 HPCL Ex‐ Refinery prices increased by 3% in September 2013 as compared to
    previous month prices.
  • Global refinery output to grow despite faltering economy ‐ Despite the tough economic
    conditions still plaguing Europe, world refinery throughput will rise as global demand for gasoline, jet
    kerosene, gasoil and diesel products during the third quarter 2013 ramps up, according to the latest
    forecast from research and consulting firm GlobalData. The new report states that demand for gasoline
    this quarter will increase by 325 mbd (thousand barrels per day) over second quarter figures, while
    gasoil and diesel demand will rise by 280 mbd over the prior quarter.
  • Myanmar region helped to improve power production ‐ Wood Group GTS has been awarded a
    one year contract worth US$13 million by a power company in Myanmar to overhaul and upgrade three
    GE Frame 6B gas turbines in operation in the country’s Yangon region. This is the first major contract win
    for Wood Group GTS in Myanmar. The overhauls and upgrades are expected to improve the total output
    of the gas turbines and provide increased reliability to Myanmar’s power production.
  • Dana Gas and Crescent Petroleum restore full LPG capacity in Kurdistan.