• Home
  • Archive by category "October 2013"

Europe and UK Oil and Gas Market Update Nov, 2013

• OMV Acquires Shares in North Sea from Statoil.
• tatoil, OMV Complete NCS, West Of Shetlands Deal.
• Suncor, Shell to Expand Oil-Sands Production in Canada.
• Gazprom Launched Pipeline Construction in Bulgaria.
• Statoil to drill on new North Sea license.
• Nabors agrees to sell Alaska oil service firm – 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.
• Bongkot North Phase 3K development starts offshore Thailand

Canada Oil and Gas Market Update Nov, 2013

• HALIFAX – An energy company has been granted permits to drill two tests wells for natural gas in Nova Scotia.
• Technip, Shell Cansolv tie-up expands CCS operations – 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.
• Enbridge to Develop $1.6 Billion Wood Buffalo Extension Pipeline for Fort Hills and Suncor.

United States Oil and Gas Market Update Nov, 2013

• Pars Oil & Gas Company announces top Iranian diplomat hopes to expand crude oil exports to Japan.
• il production tanks ordered, and roads are being set for the new lease acquisition at PetroTech Oil and Gas in Nowata, Oklahoma.
• US looks to partner with UAE companies in sub-Saharan Africa.
• Solazyme Enters Textile Lubricants Market With Industry Leader Goulston Technologies.
• Apache GoM divestment takes total to $7bn this year – 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.
• Clean Energy takes initial step to bring LNG to Florida transportation markets.

Iraq Oil and Gas Market Update Nov, 2013

• Emaar launches new project in Iraqi Kurdistan.
• Iraq delays bids for Karbala refinery.
• TAQA gets approval for oilfield in Iraqi Kurdistan – Abu Dhabi’s Taqa has been given the go-ahead by the the Kurdistan Regional Government (KRG) to proceed with the first phase in the development of the Atrush Block in the Kurdistan region of Iraq.
• Base Oil Group I Iranian origin prices marked up marginally
• Base Oil Group I Iranian origin cargoes prices FOB BIK remains steady
• The West Ethylene Pipeline (WEP) is being built to support Iran’s fifth five-year plan to develop petrochemicals complexes. The pipeline will supply feedstock to facilities and comprise 15 segments (listed below), running from and to various petrochemicals plants.
• Kurdistan’s Suleimaniyah light rail project to tender in 2014

Iran Oil and Gas Market Update Nov, 2013

• Iran planning to scrap buyback contracts to attract oil investment.
• Tehran expects to complete third metro line in 2015.
• Iran invites firms to prequalify for dam water supply project – Contractors have until 24 November to submit bids for construction contract.
• Iran and Oman leaders discuss renewed cooperation as countries plan joint gas pipeline.
• Iran hopes for return to European crude markets: NIOC official – Iran hopes to regain its share of European crude markets lost as a result of the European Union’s ban on the import of Iranian oil that came into force in July last year, a senior official from the National Iranian Oil Company said Wednesday.
The comment came amid increasing optimism that US and European sanctions could be lifted in a matter of months if Tehran reaches a deal with the West on its nuclear program.
• Base Oil Group I Iranian origin prices marked up marginally

Oman Oil and Gas Market Update Nov, 2013

• Larsen & Toubro bids low for Oman road contract – Contract calls for upgrade of road between BidBid and Sur.
• Gulf Petrochemical Services bids low on Salalah gas loop line project.
• Omanoil showcases turnkey solutions for fuel supply and management at INFRA Oman 2013.
• Carillion Alawi wins Oman hotel construction contract – New Kempinski hotel will be built at the Wave development outside Muscat.
• Contractors invited to bid for Oman substation contract – Work will involve building substation in the South Batinah governorate.
• Oman invites bids for power station upgrade – Work will involve rehabilitating power station in Dhofar governorate.
• Sohar refinery award expected mid-October – Oman Sohar refinery contract expected to go to the lowest bidder.
• Oman seeks bids for $800m road projects – Contractors sought to widen Omani road to four-lane dual carriageway between Adam and Thumrait.
• Al-Futtaim inks deal to build new mall in Oman – New mall will be the largest in Muscat.
• Omanoil showcases turnkey solutions for fuel supply and management at INFRA Oman 2013.
• Oman: Free zone infrastructure works.
• Design, supply, installation and commissioning of a primary and secondary radar system for Salalah airport. Oman tenders for Salalah airport radar system – Deadline set for 9 December.

Latest OPEC oil production figures Oct 2013

OPEC oil production figures covering entire month of September 2013

  • OPEC’s crude oil production fell 110,000 b/d to 30.34mn b/d in July, down from 30.45mn b/d in
    June, according to the latest (8 August) Platts survey of OPEC and oil industry officials and analysts. A
    130,000 b/d increase from OPEC kingpin Saudi Arabia failed to offset the 200,000 b/d
    month¬over¬month crude output drop in Libya, where production and exports have been affected by
    strikes about pay and conditions as well as protesters demanding oil sector employment. Libyan crude
    output was estimated at an average 1mn b/d in July. Libya’s main oil export terminals at Es Sider, Ras
    Lanuf and Zueitina remained closed in early August. Crude exports had dropped by more than 70% to
    just 330,000 b/d. Platts in early August that output had dropped to around 820,000 b/d.
  • Output increases, albeit small, were seen in Kuwait and in Nigeria during July, where the Trans¬Niger pipeline briefly came back onstream before being shut down again after a new leak.
  • Meanwhile, output from sanctions¬strapped Iran dipped by 20,000 b/d to 2.66mn b/d. Iraqi
    production fell for the third consecutive month, to 2.98mn b/d in July, down from 3mn b/d in June,
    3.1mn b/d in May and 3.15mn b/d in April. Angolan production fell by 30,000 b/d to 1.75mn b/d.
  • OPEC exceeded its overall production ceiling of 30mn b/d by 340,000 b/d in July. The group agreed at its Vienna meeting in June to maintain the ceiling established in January 2012 but which does not include individual country quotas.

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.