• Sunshine Oilsands tries fresh route – C$250 million agreement with Sunshine Oilsands to develop two oil sands leases.
• Devon Energy is ahead of maintenance schedule at Canadian oil sands site.
• Montreal, Canada based engineering and construction major SNC-Lavalin has been awarded an engineering, procurement and construction (EPC) contract by Transportadora de Gas Internacional S.A. E.S.P. (TGI), for a greenfield compression plant in Cajica, Cundinamarca, Colombia. A subsidiary of Grupo Energía de Bogotá, TGI is the country’s largest natural gas transportation company with nearly 4,000 km of pipelines.
Category: Oil and Gas Market Update
Oil and Gas News USA September 2013
• TOBS/SN 70 Base Oil FOB USA prices increased by 4% in since January 2013 price.
• US oilfield service provider Halliburton and Russia’s state-run energy company Gazprom Neft have agreed to cooperate on introducing new technologies to improve operational efficiency in Russia
• US Refiners hike Paraffinic and Napthen ic Base Oil prices in the range of 10 – 20 cents per gallon.
• US-based energy independent Hess Corp. has agreed to sell its Energy Marketing business for US$1.025 billion to UK-based Centrica offshoot Direct Energy.
• Chevron Products Company, introduced its new GST® Premium 32 turbine oil. Base Oil Report: Chevron Products Company, a Chevron U.S.A. Inc. division, maker of technologically advanced engine oils, lubricants and coolants, today introduced its new GST® Premium 32 turbine oil. The new oil has exceptional thermal and oxidative stability and meets strict requirements of a wide variety of turbine OEMs, including Mitsubishi Heavy Industries, Siemens and Alstom. The product is well suited for power generation applications in markets like petrochemical production, utilities and heavy industry.
• USA refiners to hike Paraffinic & Napthenic Base Oil prices in the range of 15 – 25 cents per gallon.
• Strong growth in US gas expected: Worley Parsons.
Oil and Gas News Egypt
• Apache makes two new oil discoveries in Egypt – Apache reported two new oil discoveries in its Faghur Basin play of Egypt’s Western Desert oil and gas province. A test of the Jurassic Safa sand in the Faghur Deep-1X flowed at a rate of 6,671 barrels of oil and 2.76 million cubic feet (MMcf) of natural gas per day. The Neilos-1X discovery on the Neith South development lease test-flowed at a rate of 4,179 barrels of oil and 4.2 MMcf of gas per day from the Jurassic Safa formation. The well also encountered two Alam El Bueib (AEB) Cretaceous pay sands that were not tested.
Oil and Gas News Iraq
• Forecasting Iraq’s oil and gas capital spending – More than $450bn could be spent over the next two decades, earning $6 trillion in revenues.
• Hungary’s Mol Nyrt., has stated that production at the Shaikan Block Field Development in the Kurdistan region of Iraq was close after the firm got approval from the regional government.
• Daewoo Engineering and Construction has been awarded an EPC contract to upgrade the Akkas gas field in western Iraq according to Dow Jones. The South Korean company is said to have completed the project worth US$708.6 million within 46 months, the newswire said citing a statement released by Iraq’s cabinet.
Oil and Gas News Iran
• SN 150 Iran Base Oil FOB prices decrease by 2% in August 2013 as compared to previous month price.
• Iran looks at new gas export options – Iran-Oman gas pipeline could provide new avenue for Iran.
• Opec reports record high in petroleum exports – Export revenues reached $1.26 trillion in 2012, but likely to fall this year on lower crude prices.
• Iran oil production falls further in 2013.
Oil and Gas News Bahrain
• Financial bids submitted for Bahrain airport expansion – Four companies vie for Bahrain airport design and supervision contract.
• Bahrain industrial park approves 16 schemes – Bahrain International Investment Park gives greenlight to new projects in first half of 2013.
• Bahrain: Transformers maintenance Contacts.
Oil and Gas News Oman
• Oman extends bid deadline for Salalah port upgrade – Transport Ministry contract covers consultancy services for rehabilitation of general cargo terminal.
• Road projects pave way for Oman growth – Batinah Expressway and other new schemes to drive sultanate’s construction sector.
• BP is seeking contact details for mechanical, piping, electrical, HVAC, control and instrumentation commissioning services at Khazzan tight gas field.
• Oman expects BP tight gas deal by year-end – Negotiations still ongoing as Khazzan drilling programme in Oman continues.
• Iran to export gas to Oman, says Tehran oil minister – Countries reach understanding on gas exports as Oman’s oil minister meets Iran counterpart in Tehran.
• Lime Petroleum has awarded a drilling rig contract to India’s Aban Offshore on its Block 50 concession in Oman.
Qatar Oil and Gas News Sept 2013
• Qatar Kahramaa – Tenders are to be floated soon to install energy- and water-saving devices in mosques and government schools across the country to help rationalise and reduce the consumption of these resources.
• QNA said late Monday the tanker left Ras Laffan terminal on August 9, a week after the first cargo. Doha agreed in June to supply Egypt, which suffers frequent power cuts, with five shipments to cover some of its needs, which increase during the hot summer.
• Occidental Petroleum announces agreement on further development of the Idd El Shargi North Dome field, offshore Qatar.
• Qatar National Cement Company is looking to expand the production capacity of its cement plants.
Kuwait Oil and Gas News Sept 2013
• Kuwait awards Golar LNG $213m contract – US-based company to supply a floating storage and regasification unit for liquefied natural gas.
• Kuwait launches major water injection deal – Kuwait Oil Company plans to boost crude production in northern Kuwait.
• Kuwait Energy increases revenue and production in Q2 – Kuwait Energy saw second quarter revenues rise 51.8 per cent to US$77.6 million compared to $51.1 million in the same period last year due to new contributions from producing fields in Egypt and a 15 per cent interest in a Yemeni field.
• Kuwait’s crude oil exports to Japan rose to 20.5 per cent in June from a year earlier to 7.58 million barrels, or 253,000 bpd, Kuwait’s government said Wednesday. Kuwait remained Japan’s fourth-biggest oil supplier in June, providing 7.7 per cent of the country’s total crude imports, compared with 6.5 per cent in the same month of last year, Japan’s Natural Resources and Energy Agency said in a preliminary report.
Saudi Arabia Oil and Gas News Sept 2013
• Sabic affiliate awards Linde CO2 contract – German company to construct Saudi Arabia’s first CO2 utilisation plant.
• Saudi Arabia’s housing minister signs $1.06bn contracts for homes – Projects will see 40,000 new homes delivered across the country.
• Saudi Arabia pushes forward with airport projects – Bids for Abha and Jeddah airport contracts due in September.
• Unique Hydra, a Unique Maritime Group company providing subsea and offshore solutions recently delivered the largest single order for air dive systems to Subtech Offshore Services in Saudi Arabia.
• Rotary wins EPC work in Jubail- Rotary Engineering Limited, an integrated engineering, procurement, construction (EPC) and maintenance services provider in the oil and gas and petrochemical industry, today announced that it has been awarded S$200 million (US$157 million) worth of EPC contracts in Singapore and Saudi Arabia.