• SERVO Shops to up market stake for Lanka IOC.
• Sri Lanka eyes first gas in 2017-18 – Sri Lanka hopes to join the natural gas producing nations club soon, after initiating talks with Cairn India on a sales agreement, which, once finalized, will lead to production from the company’s offshore blocks.
Day: December 2, 2013
Australia Oil and Gas Market Update Dec, 2013
• OMV has closed the acquisition of assets in Norway and the UK (West of Shetland area) from Statoil with the approval of the relevant authorities.
• Canegrowers defends sugar deal it knew nothing about.
• A Singapore-based fuel oil trader with a Western trading house said he expected most of the volumes from the Rosneft contract to head to China.
• Linde to introduce new LNG fueling station at NGV Conference.
Africa Oil and Gas Market Update Dec, 2013
• Ophir Energy has commenced drilling operations at its 80% owned Mlinzi Mbali-1 well in Block 7, Tanzania.
• Consumption of finished lubricants grew by 33% to reach 1.23 million metric tons of products in 2012.
• Base Oil Group I prices in Nigeria at the current level is oscillating in the range of USD 1025 -1030/1030 – 1055/1110 -1145 PMT.
• Dangote Targets 1.5m Tonnes of Local Sugar Production.
Russia Oil and Gas Market Update Dec, 2013
• Ukraine builds plant for recycling used oil.
• Top Russian oil firm Rosneft said it would sell about $6 billion worth of refined products to BP, establishing the British major among its biggest buyers after years without any such deal.
• The latest transaction comes on top of a $5.3 billion deal for BP to buy crude, agreed earlier this year. Both came only months after Rosneft hired a former senior BP trader, Marcus Cooper, as head of its own trading arm in Geneva.
• BP has become Rosneft’s second-largest shareholder, behind only the Kremlin, after Rosneft took over BP’s Russian venture TNK-BP for $55 billion in March.
• But the participation in Rosneft’s ownership was slow to translate into cooperation in upstream projects, while Exxon Mobil signed a flurry of deals with Rosneft to tap the Russian Arctic together.
• BP has also been absent for many years from the list of major buyers of Rosneft’s oil and refined products, while rivals such as Shell have been among the biggest players in taking oil exports from the world’s largest producer.
• Over the past year, Rosneft also has sold large amounts of crude to trading houses Glencore, Vitol and Trafigura as they have lined up $11.5 billion worth of pre-payment, which helped Rosneft ease the burden on its balance sheet.
• Cooper took over trading operations at Rosneft’s Geneva office after years at BP, including a senior position at its office in Singapore.
Japan Oil and Gas Market Update Dec, 2013
• Japan Oil and Gas Markets Outlook to 2025 provides comprehensive analysis and forecasts of the Japan oil and gas market between 2000 and 2025. Covering the entire value chain of the industry, the report analyzes each of the oil and gas segments in Japan including upstream sector, pipeline, refinery, LNG and storage sectors. Further, detailed information on new fields, blocks, pipelines, refineries, storage assets and LNG terminals along with the investments required, current status of the projects and commencement feasibility are provided, highlighting the growth potential and feasibility of projects.
• Japanese firm, Seychelles to conduct joint surveys for oil, gas.
Global Oil and Gas Market Update Dec, 2013
• GCC Oil and gas consumption set to rise 50 per cent by 2030.
• Global gas flaring has been reduced by 20 per cent over the past six years, helping to reduce wastage of the energy resource and a drop in global CO2 emissions
• Chevron Corp.’s $1.4 billion base oil plant comes on line at the Pascagoula refinery next year.
• Germany consumed 79553 MT of Lubricants in August 2013.
• Heritage-Crystal Clean, Inc. Announces the Acquisition of Used Oil Collection Service Territories in the Great Lakes Region Rea.
• Seaoil introduces reformulated fuels with STP additives.
• Illinois ethanol plant to build co-located biodiesel plant.
• West Asia demand may drive basmati exports to record 4 mt.
• Soyameal exports jump nearly four-fold to 1.94 LT in October.