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Author: Chemist

Global Oil and Gas Market Update Nov, 2013

Posted by: Chemist Posted on: November 9, 2013

• EPA proposes big reduction in 2014 ethanol blend volume – World’s largest ethanol plant of its type opens.

• PMC Biogenix Launches Vegetable-based EBS Lubricant.
• Shell Lubricants excites F1 lovers with simulators.
• PMC Biogenix Launches Vegetable-based EBS Lubricant.
• Technip and Shell Cansolv, a subsidiary of Shell, have signed an agreement to leverage their respective expertise in marketing an end-to-end solution for Carbon Capture and Sequestration (CCS) projects.

• Apache Corporation announced the completion of a previously announced sale of its Gulf of Mexico Shelf operations and properties to Fieldwood Energy LLC, a portfolio company of Riverstone Holdings, for US$3.75 billion.

• One of the world’s largest land rig operators, Nabors Industries announced that Bristol Bay Native Corporation (BBNC) has signed a definitive agreement with Nabors Alaska Services Corp. to acquire a 100 per cent ownership interest in Peak Oilfield Service Company LLC.

• The Australian subsidiaries of Chevron have signed binding long-term Sales and Purchase Agreements (SPAs) with Tohoku Electric Power Company, Inc. (Tohoku) to supply liquefied natural gas (LNG) from the Chevron-operated Wheatstone Project in Western Australia.

• Under the agreements, Chevron subsidiaries, together with subsidiaries of Apache Energy and Kuwait Foreign Petroleum Exploration Company, will supply Tohoku with 0.9 million tonnes per annum of LNG for up to 20 years.
• European Commission Clears Acquisition on “Failing Firm” Arguments ie Shell refinery assets at Harburg by Nynas of Sweden.
• Gazpromneft Lubricants commences bunkering with marine oils from Primorsk port berth.
• Solazyme Enters Textile Lubricants Market With Industry Leader Goulston Technologies.
• Base Oil SN 150 FOB Europe price marginally up by 12% since January 2013 price.
• SK Energy looks to tap European fuel oil surplus.
• Exxon Mobil’s gas turbine oil Mobil DTE 932 GT reduces the risk of varnish.
• Vivo Energy takes over Shell Ghana Limited.
• GCC fertilizer industry on sustained growth path – A rapidly growing global population and planned capacity expansions are the key drivers for sustained growth for the GCC’s fertilizer producers.
• Exhibition, conference, seminars, awards; AGRA Middle East has plenty to offer including updates on new industry developments, products and services. Get the opportunity to network with key decision makers and build alliances with leading suppliers in the Industry. AGRAme 2014 is set to be the Middle East’s largest Agribusiness Industry event of the year.
• Dynamic flow measurement for vessel discharges – Offloading cargo from very large crude carriers (VLCCs) presents challenges for any dynamic flow measurement system due to the flow variations that characterise such discharge operations, coupled with the possible introduction of entrained air or gas into the flow. Here, Khaled Saleh*, Chairman and CEO, Arab Petroleum Pipelines Co SUMED, outlines how the new metering system at the Ain Sukhna VLCC offloading terminal in Egypt meets these challenges.

Africa Oil and Gas Market Update Nov, 2013

Posted by: Chemist Posted on: November 9, 2013

• Vivo Energy takes over Shell Ghana Limited.
• Vitol in talks to buy $137 mln stake in Gabon oil – Vitol S.A. is in exclusive talks to buy a $137 million stake in an offshore licence in Gabon, the seller Harvest Natural Resources Inc said on Monday, deepening the Swiss-based oil trader’s presence in West Africa, .
• Vitol signed a long-term contract to export oil from Gabon in February, complementing its existing position as a marketer of oil and offshore bloc stakeholder in Nigeria and Ghana. It also has interests in offshore fields in Ivory Coast and Cameroon.
• Brazil agriculture ministry forecasts record high soybean harvest in 2013-14.
• The Bureau of Customs (BOC) and top global shipment verification and inspection expert Societe Generale de Surveillance (SGS) S.A. which is headquartered in Geneva, Switzerland, have teamed up to formulate a common platform for the enhanced security, integrity, promotion, and performance of the oil industry in the country. The initial effort, focused on the efficient inspection and taxation of inbound petroleum products, have been made in a recent three-day seminar workshop organized by the BOC in partnership with SGS and attended by top Customs officials especially those in ports that handle oil import shipments.
• Algeria to breathe new life into hydrocarbon sector – Algeria’s oil and natural gas production is likely to double over the next decade as fields that have as yet not been explored, come online, Bloomberg quoted the country’s energy minister as saying.
• JV signed to build R2bn Saldanha Bay crude oil facility
Oiltanking Grindrod Calulo Holdings (OTGC), a subsidiary of Germany’s Oiltanking group, and Mining, Oil and Gas Services (MOGS) on Wednesday announced a joint venture (JV) agreement to construct a R2-billion commercial crude oil storage and blending terminal at the Saldanha Bay port.
• The terminal would have a capacity of 13.2-million barrels, comprising twelve 1.1-million barrel concrete tanks.

Australia Oil and Gas Market Update Nov, 2013

Posted by: Chemist Posted on: November 9, 2013

• North Rankin starts production in Australia – Woodside Petroleum has announced the start-up of the US$4.7 billion North Rankin redevelopment project, off north-west Australia.
• Chevron, Tohoku Electric in 20-year Aussie LNG deal – The Australian subsidiaries of Chevron have signed binding long-term Sales and Purchase Agreements (SPAs) with Tohoku Electric Power Company, Inc. (Tohoku) to supply liquefied natural gas (LNG) from the Chevron-operated Wheatstone Project in Western Australia.

Singapore and Malaysia Oil and Gas Market Update Nov, 2013

Posted by: Chemist Posted on: November 9, 2013 ,

• Bright Stock Singapore Base Oil FOB prices increase by USD 15 PMT in October 2013 as compared to previous month price.
• Malaysia’s Petronas Defers Base Oil Plant Upgrade.
• KS Energy sets up drilling services JV in Mexico – Singapore-based KS Energy has signed a memorandum of agreement (MOA) with Mexican firm Empresas ICA to set up an oil and gas joint venture in Mexico.
• Technip Malaysian JV wins gas field development bid – The joint venture between Technip and Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) has received confirmation from PETRONAS Carigali for EPCIC contract for the development of two gas fields in Block SK316.
• Singapore Exported most of its Base Oil to countries like USA, China, Malaysia, Thailand, Australia etc.
• Ezra awarded US$110 million worth of new projects in subsea construction and offshore support services.
• Cape secures access contract in Thailand.
• The Singapore Exchange (SGX) has been attracting a steady flow of new listings from the oil and gas exploration sector.
• Glencore hired Arcadia oil trading team in Singapore.

China Oil and Gas Market Update Nov, 2013

Posted by: Chemist Posted on: November 9, 2013

• Honeywell to build new production facility in China to support growth of performance materials and technologies business.
• China Base Oil import has decrease by 4% in August 2013 as compared to previous month imports.
• China Imports of Base Oil from Korea comprises 27% of its total imports during August 2013.
• China imported 204325 MT of base oil in August 2013
• China imported 1.50 million MT of Base Oil during Jan to August 2013
• China imported 1.50 million MT of base oil during Jan to August 2013 to different ports like Nanjing, Tianjin, Hangzhou

India Oil and Gas Market Update Nov, 2013

Posted by: Chemist Posted on: November 9, 2013

• Mining giant BHP Billiton plans to withdraw from nearly all of its oil and gas exploration projects in India, reportedly due to regulatory delays.
• Reliance Industries signs a joint study agreement with petroleos de Venezuela.
• Air Products wins Bharat Petroleum supply contract for hydrogen and other gases.
• Indian State Oil PSU’s IOC/HPCL/BPCL slashes base oil prices across the board in range of Rs 0.40 – 1.80/liter on basic price.
• India CFR prices of SN 500 price up by 3% in October 2013 as compared to previous month price.
• Indian State oil PSU’s IOC/HPCL/BPCL Group I & II Base Oil prices marked down effective Oct 1 as Rupee appreciates
• India aims to cut Iran oil imports by 15 percent.
• Indian sugar steady; mills under pressure to cut prices.
• Cairn (India) Ltd will ramp up its gross production from Indian hydrocarbon concessions to 225,000 barrels per day in the current fiscal year, the company’s commercial head has said here.