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Kuwait Oil and Gas Market Update Nov, 2013

Posted by: Chemist Posted on: November 6, 2013 Kuwaiti Oil and gas update

• BP and Kuwait Oil Company on the Future of Digital Oilfields.
• The inaugural Society of Petroleum Engineers’ Kuwait Oil and Gas Show and Conference (KOGS 2013) is set to be the largest gathering of the oil and gas industry experts ever seen in Kuwait.
• Kuwate: By 2020, it aims to reach a production capacity of four million barrels per day and it is estimated that it has allocated $75 billion for the development of oil-related projects.
• Bilateral Trade Between India, Kuwait Over $17.6 Bln During 2012-13
• Kuwait Oil Company Opens Up Bidding Process for Oil Lakes
• New hospital projects are dominating the construction sector in Kuwait.
• Kuwait extends bid deadline for affordable housing project.
• Kuwait invites bids for electricity lines contract.
• Kuwait tenders Lower Fars heavy oil deal.
• Foster Wheeler wins Kuwait petrochemicals study.
• Kuwait’s Agility wins Afghanistan airport contracts.
• Kuwaiti Oil Deal could end up like the controversial Nigerian and Japanese Oil Agreements which were characterized by lack of proper accountability and transparency.

Saudi Arabian Oil and Gas Market Update Nov, 2013

Posted by: Chemist Posted on: November 6, 2013 KSA Oil and Gas News

• Local contractor wins Jeddah substation deal – Substation will be located near Jeddah airport.
• UACC Sila ex Jubail
The first diesel cargo will be loaded by Total and will most likely have a sulphur content of 500 parts-per-million (ppm), the sources added. It could head to East Africa, though details are not firm yet, one of the sources said. It looks like it will be 500 ppm but the refinery is still processing,” the source added. Aramco Trading is expected to load its share of the cargo after Total, in the first half of October, a second source said. The refinery is expected to eventually start shipping 10 ppm sulphur diesel cargoes, which are compatible for the European market, once its secondary units are running, the source added.

• Potential jet fuel production from SATORP is estimated to be less than 100,000 mt/month, a trade source from the Middle East suggested. Separately, another trader said: “I would think it will need at least another three months for the refinery to stabilize before we see steady export volumes.”
• Local contractor wins Jeddah port electricity deal – Nesma Electric to install 110kV substation.

• Apicorp acquires stake in Saudi-based Taqa.
• Saudi aviation authority raises $4bn sukuk.
• Food conglomerate Savola will use capital raised to buy stakes in its subsidiaries
• JGC Corporation sole bidder for package at $3bn Saudi Aramco refinery.
• Siemens confirms value of Riyadh metro contract.
• Saudi Railway Company invites interest in North-South line project.
• Ras Al-Khair to Riyadh Water Transmission Pipeline: Phase 2 and 3 – Saline Water Conversion Corporation in Saudi Arabia is building pipelines to transmit desalinated water from plants at Shoaiba, Ras al-Khair and Jubail.
• Marafiq is building an independent water and power project in Saudi Arabia to supply Yanbu Industrial City.
• Yanbu Aramco Sinopec Refining’s facility is one of two new plants that will increase the kingdom’s supply of petroleum products to the international market.
• Prophet Mosque Expansion in Medina – The expansion will accomodate up to one million worshippers.
• A joint venture between Saudi Aramco and Sumitomo Chemical to expand the existing ethane cracker and aromatics complex.
• Saudi Arabia Group I Base Oil quality grades find its way into UAE market.
• Saudi Arabian Oil Co.cut differentials used in determining the official selling prices for its light grades to customers in Asia.
• Saudi Aramco to release design tender for shale gas – Saudi Arabia to be first country in the Middle East to develop shale.
• Acwa Power to sign Rabigh 2 IPP contract by end of October – Configuration of plant has changed since local developer was selected as preferred bidder in January.
• SNC Lavalin and MECS favourites for Maaden sulphur package – Maaden package includes power plant construction at planned $7bn phosphates city in Saudi Arabia.
• Acwa prepares for initial public offering in late 2014 – Saudi power developer also planning sukuk issue before end of 2013.
• Saudi Aramco prequalifying contractors for Jizan water system.
• Saudi Aramco Cuts November Light Crude Offsets to U.S., Asia.

• ENOC sets up oil & gas logistics venture in Saudi Arabia – UAE fuel retailer Emirates National Oil Company (ENOC) has inked a deal with Tristar Transport, a Dubai-based multi-modal liquid logistics service provider with a global network, to set up a new joint venture (JV) in Saudi Arabia.

U.A.E Oil and Gas Market Update Nov, 2013

Posted by: Chemist Posted on: November 6, 2013 middle east oil and gas news

• Gunal wins $185m construction contract on Dubai Water Canal.
• SNC-Lavalin wins Zirku crude processing expansion contract.
• UK’s Turner & Townsend wins Abu Dhabi airport contract.
• Dubai leads growth in hotels sector.
• UAE credit growth hits highest level since financial crisis.
• Rail awards push up value of Top 100 Middle East Projects.
• GCC gas demand to rival Northwestern Europe by 2030.
• Middle East contracts awarded: September 2013 – Over $8bn awarded in September in the Middle East.
• Petrofac scores biggest gain in GCC top 10 oil and gas contractor rankings – UK-based firm moves to second place after string of UAE wins.
• DIFC planning massive real estate expansion.
• International Finance Corporation looks to Gulf for Middle East growth.
• RTA prepares to tender more Dubai Water Canal contracts.
• Total building offshore chemical oil recovery plant in Abu Dhabi.
• Abu Dhabi to refinance sewerage scheme.
• Abu Dhabi prepares to receive onshore concession bids Shuweihat 3 IPP.
• Shah Gas Development: Offsite & Utilities (Gas Process Plant).
• Ruwais Refinery Expansion Project: Process Package 1 (Crude Distillation Unit).
• Prequalification starts for W Hotel on Palm Jumeirah.
• Contractors approached for Dubai’s Jewel of the Creek.
• Sonatrach buys Petroceltic’s gas field stake for $180m – State-run oil company Sonatrach has purchased Irish exploration firm Petroceltic 18.3 per cent stake in an Algerian gas field for US$180 million.
• Base Oil Group I prices in UAE Market seems to be stable.
• Middle East automotive marke t projected to grow 20% yearly over next five years.
• Emarat Discusses Development of Cooperation with ExxonMobil.
• Fujairah terminal project moves on to third phase – Second phase has added 235,000 cubic metres of storage to the oil facility.
• Middle East Lubricant producers have obtained internationally recognized certifications and licenses.
• Restrictions to STS operations at offshore anchorage.
STS operation at Fujairah Offshore Anchorage Area is restricted to tankers classed under IACS members and subject to complying with below given conditions:
1. Multiple STS Operations are not permitted to tankers under non bunkering companies and such tankers must leave from Fujairah after STS operation (tankers under companies holding valid Bunkering License from the Government of Fujairah is exempted).
2. Valid STS plan and STS Hose Test Certificates need to be submitted along with Ship’s Certificates as per Notice of Mariners No. 148.
3. Certificate of Origin & Bill of Lading of cargo need to be submitted in advance prior STS operation.
4. Vessel must hold valid Last Port clearance.
5. Confirmation from ship master that his ship did not conduct STS cargo operation at High Seas.
• IK Investment Partners to acquire DNV Petroleum Services from Det Norske Veritas
Funds managed by IK Investment Partners (IK) have entered into an agreement with the Norwegian foundation Det Norske Veritas (DNV), to acquire its subsidiary DNV Petroleum Services (DNVPS), a global leader in fuel management services. Financial details for the transaction were not disclosed.
• Loading delays push up Rotterdam HSFO bunker market: trade
1. High sulfur bunker fuel prices at the port of Rotterdam have soared against high sulfur fuel oil this week, amid loading delays caused by shortages of supply, sources said Wednesday.
2. Traders said Wednesday that the market is experiencing a shortage of HSFO after a buying spree in August and September when deliveries from Russia slowed down, adding that about 40 barges are waiting to load at the port of Rotterdam.
3. Prompt HSFO bunker deliveries are being postponed until the weekend, with most suppliers of the fuel only quoting from October 4. Some barges are being redirected towards Antwerp, where there has been slightly more bunker fuel available for loading, sources said.
• Occidental looks to sell 40% stake in Mideast unit for $8b – SAN FRANCISCO Occidental Petroleum Corporation is looking to sell 40 per cent of its Middle East operations for $8 billion on Friday, as Oxy seeks investment in the unit as part of a broader plan to split up the company.
• Base Oil Group II availability in Middle East from Korea and Taiwan may increase in couple of weeks after a long lull.
• Exxon Mobil’s gas turbine oil Mobil DTE 932 GT reduces the risk of varnish.
• TUV Rheinland wins contract for Dubai metro.

Latest OPEC oil production figures Oct 2013

Posted by: Chemist Posted on: October 15, 2013 OPEC Oil figures

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.