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Emarat finalises 2014 oil products term



Emarat finalises 2014 oil products term.
Dec 15th 2013, 00:00

UAE fuel retailer Emirates General Petroleum Corp (Emarat) has finalised its term contracts to buy gasoline, jet fuel and gasoil for delivery over 2014, industry sources said.
Emarat will buy about 700,000 tonnes of 95-octane gasoline and 65,000 tonnes of 98-octane gasoline from China's oil giant PetroChina, a Gulf-based industry source said.

Yemen LNG evacuates staff after explosion.



Yemen LNG evacuates staff after explosion.
Dec 15th 2013, 00:00

Yemen LNG has evacuated some foreign staff after an explosion last week at its plant at Balhaf, a company employee and a spokesman for French stakeholder Total said.
Violence is common in Yemen, where an interim government is fighting southern secessionists and northern Houthi rebels, as well as Al Qaeda-linked militants seeking to overthrow the government and impose their version of...

Chevron pipeline explodes in Texas.




Chevron pipeline explodes in Texas.
Nov 25th 2013, 00:00

A Chevron pipeline exploded near a tiny Texas town south of Dallas, shooting flames high in the air and prompting evacuations from nearby homes and a school district, but no injuries were reported, the company and emergency officials said.
The explosion south of Milford, Texas, was caused by a construction crew that accidentally drilled into a 10-inch liquefied petroleum gas (LPG) line,...

Summary of natural gas supply and disposition in the United States, 2008-2013 (billion cubic feet).


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Table 1. Summary of natural gas supply and disposition in the United States, 2008-2013 (billion cubic feet).
Oct 1st 2013, 00:00

 Table 1. Summary of natural gas supply and disposition in the United States, 2008-2013 (billion cubic feet) Year and Gross Marketed Extraction Dry Gas Month Withdrawals Production Loss (a) Production (b) 2008 Total 25,636 21,112 953 20,159 2009 Total 26,057 21,648 1,024 20,624 2010 Total 26,816 22,382 1,066 21,316 2011 January 2,299 1,953 92 1,861 February 2,104 1,729 82 1,647 March 2,411...

Underground natural gas storage--all operators, 2008-2013 (million cubic feet).


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Table 8. Underground natural gas storage--all operators, 2008-2013 (million cubic feet).
Oct 1st 2013, 00:00

 Table 8. Underground natural gas storage--all operators, 2008-2013 (million cubic feet) Natural Gas Change in in Working Underground Gas from Storage at Same End of Period Period Previous Year Year and Base Working Total (a) Volume Percent Month Gas Gas 2008 Total -- -- -- -- -- (c) 2009 Total -- -- -- -- -- (c) 2010 Total -- -- -- -- -- (c) 2011 January 4,303 2,306 6,609 2 0.1 February...

Malaysia plans biodiesel blend.


Malaysia plans biodiesel blend.
Nov 4th 2013, 00:00

Malaysia is in the final stages of discussions to impose a requirement for a higher biodiesel blend, industry and government sources said, as the second-largest palm oil grower looks to whittle stocks down further and support prices.
The Southeast Asian country is ironing out details to increase the palm oil component used in biodiesel to 7 per cent, a B7 blend, from the current 5 per...

The US Become Oil Independent.

The US Become Oil Independent.
Nov 18th 2013, 00:00

For the first month since February 1995, US oil output in October over-took American imports, marking an important mile-stone for a nation promised by President Obama to be independent from foreign oil by 2020. According to the EIA's short-term World Energy Outlook published last week, US oil production in October averaged 7.7m b/d and was to keep rising. It said the 2013 US output was to...

Petronas Q2 profit slips.


Petronas Q2 profit slips.
Sep 1st 2013, 23:00

Malaysian state oil firm Petroliam Nasional (Petronas) said second-quarter net profits were slightly lower as weaker crude oil prices and higher upstream costs ate into margins.
Net profit in the April to June period fell 0.9 per cent to 15.262 billion Malaysian ringgit ($4.62 billion) from 15.4 billion ringgit a year earlier, Petronas data showed.

Publications by Oil & Gas News: High oil prices seen hurting Iran exports badly, says Zanganeh.

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High oil prices seen hurting Iran exports badly, says Zanganeh.
Sep 1st 2013, 23:00

IRAN'S oil exports are being hurt by current high prices that make it more economical for rivals like the US to produce more costly oil, Iran's new energy minister says in an interview published by his ministry's website.
A week into the job, returning oil minister Bijan Zanganeh, who previously filled the post under the reformist president Mohammad Khatami, told oil ministry news...

Publications by Oil & Gas News: Premier Oil turning away from North Sea.

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Premier Oil turning away from North Sea.
Aug 4th 2013, 23:00

Premier Oil, the British North Sea's oldest company outside the oil majors, is turning away from the region for future exploration opportunities, highlighting the uphill battle the British government faces in trying to revive the sector.
"The UK is a very mature province and if we are to find more oil and gas...then we need to go to other places," Premier's chief executive Simon Lockett...

Publications by Oil & Gas News: China looks to Kurdistan for oil.

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China looks to Kurdistan for oil.
Aug 4th 2013, 23:00

With China already sucking up more than half of the oil production coming from Iraq, the Kurds may be next in the Chinese energy cross hairs.
The Chinese begun to sink their teeth into the Kurdish Region's vast oil potential in 2009 when Sinopec acquired Addax Petroleum, which holds a joint agreement with Genel Energy to develop the Taq Taq oil field. To date, a total of 16 development...

Publications by Oil & Gas News: Opec set to lose market share.

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Opec set to lose market share.
Jul 14th 2013, 23:00

The Organization of the Petroleum Exporting Countries' (Opec) share of the world market will shrink in 2014 as rising supply of US shale oil gives the exporter group little comfort from the fastest growth in world demand in four years.
In a monthly report, Opec forecasts demand for its oil in 2014 would average 29.61 million barrels per day (mbpd), down 250,000 bpd from 2013 and 770,000...

Publications by Oil & Gas News: SPC-Dana Gas -- Zora Gas Field.

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SPC-Dana Gas -- Zora Gas Field.
Jul 21st 2013, 23:00

Project name : SPC/Dana Gas -- Zora Gas Field Name of client : Dana Gas Sharjah Petroleum Council Budget : $70 million Main contractor : Crescent Petroleum Company Facility type : Gas Exploration Status : Feasibility Study PMC : Not yet appointed Location : Sharjah

Publications by Oil & Gas News: Qatar in talks to buy German oil and gas firm.

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Qatar in talks to buy German oil and gas firm.
Jul 21st 2013, 23:00

A state-owned Qatari entity has held initial talks with German utility RWE about buying its DEA oil and gas exploration and production unit, the Wall Street Journal reported, citing two people familiar with the matter.
RWE in March said it was planning to sell DEA in a move to slash capital spending and cut its debt pile, with sources and analysts valuing the unit at about 5-8 billion...
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Publications by Oil & Gas News: FPSOs: robust prospects, primed for solid growth.

FPSOs: robust prospects, primed for solid growth.
Jul 28th 2013, 23:00

THE floating production market is on a strong upward surge, but there are still plenty of pitfalls looming for companies with their eyes on the prize.
All the evidence for the future of the floating production system (FPS) market supports the strong growth forecasts that abound. The industry's deepwater momentum continues to grow, while the offshore sector as a whole is increasing its...

Publications by Oil & Gas News: Saudi to sustain high diesel imports.

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Saudi to sustain high diesel imports.
Jul 21st 2013, 23:00

Saudi Arabia will import higher than usual volumes of diesel for August as soaring temperatures stoke demand for the power generation fuel, though the quantum may be as much as a quarter lower than July shipments, industry sources said.
Saudi Aramco's sustained high diesel imports could mop up excess supply from India and help keep Asian gasoil margins steady, traders said. Exports from...
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Publications by Oil & Gas News: Middle East oil exports to Brazil top $2.75bn.

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Middle East oil exports to Brazil top $2.75bn.
Jul 21st 2013, 23:00

Brazil imported about $2.76 billion worth of petroleum products, gas and energy from the Middle East from January to April, accounting for almost 20 per cent of total oil imports to the country, a report said.
In light of the Arab-Brazilian Chamber of Commerce (ABCC) report, GrupoBraz Consulting in association with BrazArtis, an import-export company based in Rio de Janeiro, has...

Publications by Oil & Gas News: APA bids $1.2bn for Envestra.

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APA bids $1.2bn for Envestra.
Jul 21st 2013, 23:00

Gas infrastructure operator APA Group made a preliminary offer to take control of gas distributor Envestra Ltd in a A$1.3 billion ($1.18 billion) deal that would tighten its grip on pipeline supply.
The proposal comes just months after APA bought rival distributor Hastings Diversified Utilities Fund for A$1.4 billion in anticipation of strong demand from new coal seam gas projects and...
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Publications by Oil & Gas News: Chevron to restart Frade.

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Chevron to restart Frade.
Apr 21st 2013, 23:00

Brazil's oil regulator said that it expects Chevron, the No 2 US oil company, to restart output from its offshore Frade field northeast of Rio de Janeiro at about 20,000 barrels a day (bpd).
The field was shut in March 2012 after a November 2011 oil spill. While the ANP announced that Chevron and its partners had received approval to restart output at Frade, production has not yet begun,...

Publications by Oil & Gas News: Sabic okays $3.9bn cash dividends.

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Sabic okays $3.9bn cash dividends.
Apr 21st 2013, 23:00

Global petrochemical giant Saudi Basic Industries Corporation (Sabic) said it will distribute dividends worth SR15 billion ($3.9 billion) to shareholders at SR5 per share for the group's operations in 2012.
The announcement was made at the company's annual General Assembly meeting in Riyadh under the chairmanship of Prince Saud bin Abdullah bin Thenayan Al Saud, also the chairman of the...

Publications by Oil & Gas News: Saudi Aramco starts up giant Manifa oilfield.

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Saudi Aramco starts up giant Manifa oilfield.
Apr 21st 2013, 23:00

Saudi Aramco has started pumping oil from its giant Manifa field in the Gulf, allowing the world's biggest oil exporter to relax production from some of its mature fields onshore.
The offshore oilfield -- made up of rigs on manmade islands linked by 41 kilometres of causeways and bridges over the Gulf -- is expected to produce 500,000 barrels per day (bpd) by July and 900,000 bpd by the...

CNPC, Petronas eye Angola bids.


CNPC, Petronas eye Angola bids.
Apr 16th 2013, 23:00

China National Petroleum Corp and Malaysia's Petronas are considering bids for Marathon Oil Corp's stakes in two Angolan offshore oil and gas fields, people familiar with the matter said.
This would be potentially the third major energy deal in Africa this year, a major new front for Asian state energy firms looking to fuel fast growing economies.
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Publications by Oil & Gas News: Driller thinks Ethiopia is next in East Africa oil surge.


Driller thinks Ethiopia is next in East Africa oil surge.
Apr 16th 2013, 23:00

Tewedros Ashenafi hopes his Ethiopian exploration outfit will become the first indigenous company to make a basin-opening discovery in sub-Saharan Africa's 21st Century oil and gas boom.
His privately-held SouthWest Energy holds 46,000 sq km of exploration acreage amounting to almost 4 per cent of the vast, land-locked east African country.
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Oil price level not harmful to world economy: Opec.


Oil price level not harmful to world economy: Opec.
Apr 16th 2013, 23:00

The current level of oil prices is not harmful to the global economy and on the contrary supports energy investments, the secretary general of oil exporting group Opec said.
Oil prices have averaged about $110 per barrel this year.
After early signs of stabilisation in the world economy, the last month has seen a series of setbacks with US and European recovery stuttering. "We...
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Gulf petchem sees $250bn investment.


Gulf petchem sees $250bn investment.
Apr 16th 2013, 23:00

The total investments in the petrochemical sector in the Gulf region will balloon to more than $250 billion by 2015, said an expert while speaking at a major industry event in Dubai.
The 4th International Conference for Plastics Conversion (PlastCon 2013) saw experts discuss several topics including challenges facing plastic manufacturers.
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Saudi to spend $134bn on energy and water.

Saudi to spend $134bn on energy and water.
Apr 16th 2013, 23:00

Energy consumption in Saudi Arabia is witnessing an unprecedented growth, prompting a wave of investments expected to reach SR502.5 billion ($134.1 billion) for various power and water projects in the next decade.
Being the third largest water consuming country in the world with an average consumption reaching 280 litres per day per capita, Saudi Arabia has earmarked up to SR202.5...
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Chevron fire tied to oversight.

Chevron fire tied to oversight.
Apr 16th 2013, 23:00

Federal, state and local officials say they were not aware of corrosive pipes at the Richmond Chevron refinery until after a fire August 6, 2012 engulfed a unit of the facility. A report from the US Chemical Safety Board (CSB) last February found Chevron was aware of the faulty pipe pinpointed as the cause of the fire as early as 2002.
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Oil markets tighten on Saudi cut: IEA.

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Oil markets tighten on Saudi cut: IEA.
Apr 2nd 2013, 23:00

World oil markets are tightening as Chinese fuel demand increases and the Organization of the Petroleum Exporting Countries' (Opec) supplies fall, draining inventories, the West's energy agency said on Friday, in a trend that could put extra upward pressure on prices.
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BASF, Petronas disagree.

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BASF, Petronas disagree.
Apr 2nd 2013, 23:00

BASF and Malaysian state-owned oil and gas firm Petronas have decided not to pursue an extension of their partnership to a second speciality chemicals plant after failing to agree on terms.
"Petronas and BASF concluded that it would be in their mutual interest to terminate the HoA (Heads of Agreement) as both parties were unable to come to an agreement on the terms and conditions," the...
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Najib Tun Razak announced bonuses for the 40,000 employees of national oil firm Petrona


KUALA LUMPUR: Prime Minister Najib Tun Razak announced bonuses for the 40,000 employees of national oil firm Petronas today, signalling a long wait for a general election is nearly over as he seeks last-minute support from the middle class.
In recent days, Najib has expanded a slew of handouts to include thousands of workers at state-linked firms, underlining the government’s ability to try to win support through its close control of Malaysia’s biggest companies.

Najib, whose ruling Barisan Nasional coalition could face the closest election battle in its 56-year rule, must call the polls by the end of April or Parliament will automatically dissolve for the first time in the country’s history.
At a town hall-style meeting with Petronas staff here, Najib said they would each get RM1,000 (US$320) bonuses for “contributing to nation-building”. Media predicted he would dissolve Parliament tomorrow.

The government-controlled New Straits Times newspaper reported that ministers had been ordered to wear a suit and tie for tomorrow’s regular Cabinet meeting for an official photograph. Tomorrow marks exactly four years since Najib took power after the coalition’s worst-ever election result.
Najib appeared to be getting ready for battle as he told the Petronas staff, who make up a part of Malaysia’s urban middle class that has swung to the opposition in recent elections, to keep the government in power, according to company officials.

“He told us that we had to vote wisely or Petronas, which has always been independent under the current government, will lose its independence if the opposition came into power,” said a Petronas employee who attended the meeting.
The board of Petronas answers only to Najib, who approved the one-off bonuses amounting to RM40 million.
Petronas, often described as Malaysia’s piggy bank, accounts for up to 45% of the government budget.
Late April polls?
If Najib dissolves Parliament tomorrow, it would signal an election by around the end of the month or in early May, raising doubt over Najib’s participation in a Southeast Asian leaders’ summit in Brunei on April 24-25.
Over the past two years, Najib’s government has handed out about US$2 billion in one-off payments to poorer families, in what the opposition has called thinly disguised vote-buying. Other handouts have included free wheels for taxi drivers, pay rises for civil servants and allocations to schools run by minority Chinese and Indians.
In recent days, the government has announced one-off bonuses of RM500 to more than 40,000 employees of Telekom Malaysia and Pos Malaysia.
Lower income workers make up a large part of Telekom Malaysia and Pos Malaysia and analysts expect state power firm Tenaga to pay out a similar bonus.
“In the past, there would be salary increments and the giving out of election goodies. Now, with these bonuses, it has gone to a new level,” said Ibrahim Suffian, head of the Merdeka Centre polling firm.
Political opponents have said Najib’s delay in calling the polls is a sign of his indecisiveness and concern in the face of a strong challenge by the opposition following its best-ever election performance in 2008.
Najib’s coalition is expected to win the vote but a failure to improve on its last performance could cost him his job.
In recent days, Najib has huddled with senior members of his party to decide on candidates. The ruling coalition has yet to publish its election manifesto.
Najib has repeatedly defended the polls delay, saying he wants time to show Malaysians how they have benefited from his ambitious Economic Transformation Programme, which aims to double per-capita incomes by 2020.
“Election dates are not for announcement until they actually happen. That’s a fact,” Najib told Reuters in an interview last week, laughing off a question on whether the election would be held in April.
Najib remains popular, polling significantly higher than his coalition in surveys. An opinion poll by the respected Merdeka Centre gave him a 61% approval rating in February, but that is down 10 points from the end of 2011.
- Reuters

[PETRONAS l The BLACKGOLD Company In Oil And Gas Business] Publications by Oil & Gas News: China gas drive may cut into oil.

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China gas drive may cut into oil.

Mar 11th 2013, 00:00

China's drive to fuel more vehicles with cleaner-burning natural gas could reduce oil demand by nearly a tenth equivalent to Turkey's total oil consumption and may help ease its cities' toxic smog problem, too.
The country's rise to become the world's biggest car market has seen rapid growth, too, in oil demand over the past decade, and has contributed to the heavy pollution that chokes...
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Posted By akula ni to PETRONAS l The BLACKGOLD Company In Oil And Gas Business at 3/12/2013 01:23:00 PM

[PETRONAS l The BLACKGOLD Company In Oil And Gas Business] Publications by Oil & Gas News: PetroChina willing to jointly develop West Qurna oilfield.

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PetroChina willing to jointly develop West Qurna oilfield.
Mar 11th 2013, 00:00

PetroChina is willing to jointly develop the West Qurna oilfield in Iraq with Exxon Mobil the chairman of China's largest oil and gas producer said.
There has been speculation in recent months that Exxon was considering pulling out of the $50 billion West Qurna 1 oilfield located in southern Iraq after it signed for six blocs with the autonomous Kurdistan regional...
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Posted By akula ni to PETRONAS l The BLACKGOLD Company In Oil And Gas Business at 3/12/2013 01:23:00 PM

[PETRONAS l The BLACKGOLD Company In Oil And Gas Business] Publications by Oil & Gas News: Opec oil output increases: survey.

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Opec oil output increases: survey.
Mar 11th 2013, 00:00

Opec crude oil output rose in February, the first monthly increase since October, due to higher exports from Iraq and a slight increase in supply from top exporter Saudi Arabia, a Reuters survey found.

Supply from the 12-member Organization of the Petroleum Exporting Countries was 30.32 million barrels per day (mbpd), up from 30.21 mbpd in January, the survey of shipping data and sources...

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Posted By akula ni to PETRONAS l The BLACKGOLD Company In Oil And Gas Business at 3/12/2013 01:23:00 PM

[PETRONAS the BLACKGOLD company in oil and gas business] Publications by Oil & Gas News: Oil demand growth moderated: Al Falih.

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Oil demand growth moderated: Al Falih.
Mar 11th 2013, 00:00

Saudi Aramco chief executive Khalid Al Falih said global oil demand growth has moderated, largely because of environmental pressures and lifestyle changes, as well as energy policies.
The head of Saudi Arabia's national oil company also told energy executives that increased output driven by technological advances -- including rapid production growth in prolific US shale and tight oil...
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Posted By akula ni to PETRONAS the BLACKGOLD company in oil and gas business at 3/13/2013 08:29:00 AM

Publications by Oil & Gas News: Oil demand growth moderated: Al Falih.

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Oil demand growth moderated: Al Falih.
Mar 11th 2013, 00:00

Saudi Aramco chief executive Khalid Al Falih said global oil demand growth has moderated, largely because of environmental pressures and lifestyle changes, as well as energy policies.
The head of Saudi Arabia's national oil company also told energy executives that increased output driven by technological advances -- including rapid production growth in prolific US shale and tight oil...

Emarat finalises 2014 oil products term



Emarat finalises 2014 oil products term.
Dec 15th 2013, 00:00

UAE fuel retailer Emirates General Petroleum Corp (Emarat) has finalised its term contracts to buy gasoline, jet fuel and gasoil for delivery over 2014, industry sources said.
Emarat will buy about 700,000 tonnes of 95-octane gasoline and 65,000 tonnes of 98-octane gasoline from China's oil giant PetroChina, a Gulf-based industry source said.

Yemen LNG evacuates staff after explosion.



Yemen LNG evacuates staff after explosion.
Dec 15th 2013, 00:00

Yemen LNG has evacuated some foreign staff after an explosion last week at its plant at Balhaf, a company employee and a spokesman for French stakeholder Total said.
Violence is common in Yemen, where an interim government is fighting southern secessionists and northern Houthi rebels, as well as Al Qaeda-linked militants seeking to overthrow the government and impose their version of...

Chevron pipeline explodes in Texas.




Chevron pipeline explodes in Texas.
Nov 25th 2013, 00:00

A Chevron pipeline exploded near a tiny Texas town south of Dallas, shooting flames high in the air and prompting evacuations from nearby homes and a school district, but no injuries were reported, the company and emergency officials said.
The explosion south of Milford, Texas, was caused by a construction crew that accidentally drilled into a 10-inch liquefied petroleum gas (LPG) line,...

Summary of natural gas supply and disposition in the United States, 2008-2013 (billion cubic feet).


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Table 1. Summary of natural gas supply and disposition in the United States, 2008-2013 (billion cubic feet).
Oct 1st 2013, 00:00

 Table 1. Summary of natural gas supply and disposition in the United States, 2008-2013 (billion cubic feet) Year and Gross Marketed Extraction Dry Gas Month Withdrawals Production Loss (a) Production (b) 2008 Total 25,636 21,112 953 20,159 2009 Total 26,057 21,648 1,024 20,624 2010 Total 26,816 22,382 1,066 21,316 2011 January 2,299 1,953 92 1,861 February 2,104 1,729 82 1,647 March 2,411...

Underground natural gas storage--all operators, 2008-2013 (million cubic feet).


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Table 8. Underground natural gas storage--all operators, 2008-2013 (million cubic feet).
Oct 1st 2013, 00:00

 Table 8. Underground natural gas storage--all operators, 2008-2013 (million cubic feet) Natural Gas Change in in Working Underground Gas from Storage at Same End of Period Period Previous Year Year and Base Working Total (a) Volume Percent Month Gas Gas 2008 Total -- -- -- -- -- (c) 2009 Total -- -- -- -- -- (c) 2010 Total -- -- -- -- -- (c) 2011 January 4,303 2,306 6,609 2 0.1 February...

Malaysia plans biodiesel blend.


Malaysia plans biodiesel blend.
Nov 4th 2013, 00:00

Malaysia is in the final stages of discussions to impose a requirement for a higher biodiesel blend, industry and government sources said, as the second-largest palm oil grower looks to whittle stocks down further and support prices.
The Southeast Asian country is ironing out details to increase the palm oil component used in biodiesel to 7 per cent, a B7 blend, from the current 5 per...

The US Become Oil Independent.

The US Become Oil Independent.
Nov 18th 2013, 00:00

For the first month since February 1995, US oil output in October over-took American imports, marking an important mile-stone for a nation promised by President Obama to be independent from foreign oil by 2020. According to the EIA's short-term World Energy Outlook published last week, US oil production in October averaged 7.7m b/d and was to keep rising. It said the 2013 US output was to...

Petronas Q2 profit slips.


Petronas Q2 profit slips.
Sep 1st 2013, 23:00

Malaysian state oil firm Petroliam Nasional (Petronas) said second-quarter net profits were slightly lower as weaker crude oil prices and higher upstream costs ate into margins.
Net profit in the April to June period fell 0.9 per cent to 15.262 billion Malaysian ringgit ($4.62 billion) from 15.4 billion ringgit a year earlier, Petronas data showed.

Publications by Oil & Gas News: High oil prices seen hurting Iran exports badly, says Zanganeh.

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Resent articles by the "Oil & Gas News" from The Free Library 


High oil prices seen hurting Iran exports badly, says Zanganeh.
Sep 1st 2013, 23:00

IRAN'S oil exports are being hurt by current high prices that make it more economical for rivals like the US to produce more costly oil, Iran's new energy minister says in an interview published by his ministry's website.
A week into the job, returning oil minister Bijan Zanganeh, who previously filled the post under the reformist president Mohammad Khatami, told oil ministry news...

Publications by Oil & Gas News: Premier Oil turning away from North Sea.

Publications by Oil & Gas News
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Premier Oil turning away from North Sea.
Aug 4th 2013, 23:00

Premier Oil, the British North Sea's oldest company outside the oil majors, is turning away from the region for future exploration opportunities, highlighting the uphill battle the British government faces in trying to revive the sector.
"The UK is a very mature province and if we are to find more oil and gas...then we need to go to other places," Premier's chief executive Simon Lockett...

Publications by Oil & Gas News: China looks to Kurdistan for oil.

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China looks to Kurdistan for oil.
Aug 4th 2013, 23:00

With China already sucking up more than half of the oil production coming from Iraq, the Kurds may be next in the Chinese energy cross hairs.
The Chinese begun to sink their teeth into the Kurdish Region's vast oil potential in 2009 when Sinopec acquired Addax Petroleum, which holds a joint agreement with Genel Energy to develop the Taq Taq oil field. To date, a total of 16 development...

Publications by Oil & Gas News: Opec set to lose market share.

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Opec set to lose market share.
Jul 14th 2013, 23:00

The Organization of the Petroleum Exporting Countries' (Opec) share of the world market will shrink in 2014 as rising supply of US shale oil gives the exporter group little comfort from the fastest growth in world demand in four years.
In a monthly report, Opec forecasts demand for its oil in 2014 would average 29.61 million barrels per day (mbpd), down 250,000 bpd from 2013 and 770,000...

Publications by Oil & Gas News: SPC-Dana Gas -- Zora Gas Field.

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SPC-Dana Gas -- Zora Gas Field.
Jul 21st 2013, 23:00

Project name : SPC/Dana Gas -- Zora Gas Field Name of client : Dana Gas Sharjah Petroleum Council Budget : $70 million Main contractor : Crescent Petroleum Company Facility type : Gas Exploration Status : Feasibility Study PMC : Not yet appointed Location : Sharjah

Publications by Oil & Gas News: Qatar in talks to buy German oil and gas firm.

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Qatar in talks to buy German oil and gas firm.
Jul 21st 2013, 23:00

A state-owned Qatari entity has held initial talks with German utility RWE about buying its DEA oil and gas exploration and production unit, the Wall Street Journal reported, citing two people familiar with the matter.
RWE in March said it was planning to sell DEA in a move to slash capital spending and cut its debt pile, with sources and analysts valuing the unit at about 5-8 billion...
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Publications by Oil & Gas News: FPSOs: robust prospects, primed for solid growth.

FPSOs: robust prospects, primed for solid growth.
Jul 28th 2013, 23:00

THE floating production market is on a strong upward surge, but there are still plenty of pitfalls looming for companies with their eyes on the prize.
All the evidence for the future of the floating production system (FPS) market supports the strong growth forecasts that abound. The industry's deepwater momentum continues to grow, while the offshore sector as a whole is increasing its...

Publications by Oil & Gas News: Saudi to sustain high diesel imports.

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Saudi to sustain high diesel imports.
Jul 21st 2013, 23:00

Saudi Arabia will import higher than usual volumes of diesel for August as soaring temperatures stoke demand for the power generation fuel, though the quantum may be as much as a quarter lower than July shipments, industry sources said.
Saudi Aramco's sustained high diesel imports could mop up excess supply from India and help keep Asian gasoil margins steady, traders said. Exports from...
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Publications by Oil & Gas News: Middle East oil exports to Brazil top $2.75bn.

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Middle East oil exports to Brazil top $2.75bn.
Jul 21st 2013, 23:00

Brazil imported about $2.76 billion worth of petroleum products, gas and energy from the Middle East from January to April, accounting for almost 20 per cent of total oil imports to the country, a report said.
In light of the Arab-Brazilian Chamber of Commerce (ABCC) report, GrupoBraz Consulting in association with BrazArtis, an import-export company based in Rio de Janeiro, has...

Publications by Oil & Gas News: APA bids $1.2bn for Envestra.

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APA bids $1.2bn for Envestra.
Jul 21st 2013, 23:00

Gas infrastructure operator APA Group made a preliminary offer to take control of gas distributor Envestra Ltd in a A$1.3 billion ($1.18 billion) deal that would tighten its grip on pipeline supply.
The proposal comes just months after APA bought rival distributor Hastings Diversified Utilities Fund for A$1.4 billion in anticipation of strong demand from new coal seam gas projects and...
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Publications by Oil & Gas News: Chevron to restart Frade.

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Chevron to restart Frade.
Apr 21st 2013, 23:00

Brazil's oil regulator said that it expects Chevron, the No 2 US oil company, to restart output from its offshore Frade field northeast of Rio de Janeiro at about 20,000 barrels a day (bpd).
The field was shut in March 2012 after a November 2011 oil spill. While the ANP announced that Chevron and its partners had received approval to restart output at Frade, production has not yet begun,...

Publications by Oil & Gas News: Sabic okays $3.9bn cash dividends.

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Sabic okays $3.9bn cash dividends.
Apr 21st 2013, 23:00

Global petrochemical giant Saudi Basic Industries Corporation (Sabic) said it will distribute dividends worth SR15 billion ($3.9 billion) to shareholders at SR5 per share for the group's operations in 2012.
The announcement was made at the company's annual General Assembly meeting in Riyadh under the chairmanship of Prince Saud bin Abdullah bin Thenayan Al Saud, also the chairman of the...

Publications by Oil & Gas News: Saudi Aramco starts up giant Manifa oilfield.

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Saudi Aramco starts up giant Manifa oilfield.
Apr 21st 2013, 23:00

Saudi Aramco has started pumping oil from its giant Manifa field in the Gulf, allowing the world's biggest oil exporter to relax production from some of its mature fields onshore.
The offshore oilfield -- made up of rigs on manmade islands linked by 41 kilometres of causeways and bridges over the Gulf -- is expected to produce 500,000 barrels per day (bpd) by July and 900,000 bpd by the...

CNPC, Petronas eye Angola bids.


CNPC, Petronas eye Angola bids.
Apr 16th 2013, 23:00

China National Petroleum Corp and Malaysia's Petronas are considering bids for Marathon Oil Corp's stakes in two Angolan offshore oil and gas fields, people familiar with the matter said.
This would be potentially the third major energy deal in Africa this year, a major new front for Asian state energy firms looking to fuel fast growing economies.
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Publications by Oil & Gas News: Driller thinks Ethiopia is next in East Africa oil surge.


Driller thinks Ethiopia is next in East Africa oil surge.
Apr 16th 2013, 23:00

Tewedros Ashenafi hopes his Ethiopian exploration outfit will become the first indigenous company to make a basin-opening discovery in sub-Saharan Africa's 21st Century oil and gas boom.
His privately-held SouthWest Energy holds 46,000 sq km of exploration acreage amounting to almost 4 per cent of the vast, land-locked east African country.
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Oil price level not harmful to world economy: Opec.


Oil price level not harmful to world economy: Opec.
Apr 16th 2013, 23:00

The current level of oil prices is not harmful to the global economy and on the contrary supports energy investments, the secretary general of oil exporting group Opec said.
Oil prices have averaged about $110 per barrel this year.
After early signs of stabilisation in the world economy, the last month has seen a series of setbacks with US and European recovery stuttering. "We...
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Gulf petchem sees $250bn investment.


Gulf petchem sees $250bn investment.
Apr 16th 2013, 23:00

The total investments in the petrochemical sector in the Gulf region will balloon to more than $250 billion by 2015, said an expert while speaking at a major industry event in Dubai.
The 4th International Conference for Plastics Conversion (PlastCon 2013) saw experts discuss several topics including challenges facing plastic manufacturers.
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Saudi to spend $134bn on energy and water.

Saudi to spend $134bn on energy and water.
Apr 16th 2013, 23:00

Energy consumption in Saudi Arabia is witnessing an unprecedented growth, prompting a wave of investments expected to reach SR502.5 billion ($134.1 billion) for various power and water projects in the next decade.
Being the third largest water consuming country in the world with an average consumption reaching 280 litres per day per capita, Saudi Arabia has earmarked up to SR202.5...
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Chevron fire tied to oversight.

Chevron fire tied to oversight.
Apr 16th 2013, 23:00

Federal, state and local officials say they were not aware of corrosive pipes at the Richmond Chevron refinery until after a fire August 6, 2012 engulfed a unit of the facility. A report from the US Chemical Safety Board (CSB) last February found Chevron was aware of the faulty pipe pinpointed as the cause of the fire as early as 2002.
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Oil markets tighten on Saudi cut: IEA.

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Oil markets tighten on Saudi cut: IEA.
Apr 2nd 2013, 23:00

World oil markets are tightening as Chinese fuel demand increases and the Organization of the Petroleum Exporting Countries' (Opec) supplies fall, draining inventories, the West's energy agency said on Friday, in a trend that could put extra upward pressure on prices.
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BASF, Petronas disagree.

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BASF, Petronas disagree.
Apr 2nd 2013, 23:00

BASF and Malaysian state-owned oil and gas firm Petronas have decided not to pursue an extension of their partnership to a second speciality chemicals plant after failing to agree on terms.
"Petronas and BASF concluded that it would be in their mutual interest to terminate the HoA (Heads of Agreement) as both parties were unable to come to an agreement on the terms and conditions," the...
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Najib Tun Razak announced bonuses for the 40,000 employees of national oil firm Petrona


KUALA LUMPUR: Prime Minister Najib Tun Razak announced bonuses for the 40,000 employees of national oil firm Petronas today, signalling a long wait for a general election is nearly over as he seeks last-minute support from the middle class.
In recent days, Najib has expanded a slew of handouts to include thousands of workers at state-linked firms, underlining the government’s ability to try to win support through its close control of Malaysia’s biggest companies.

Najib, whose ruling Barisan Nasional coalition could face the closest election battle in its 56-year rule, must call the polls by the end of April or Parliament will automatically dissolve for the first time in the country’s history.
At a town hall-style meeting with Petronas staff here, Najib said they would each get RM1,000 (US$320) bonuses for “contributing to nation-building”. Media predicted he would dissolve Parliament tomorrow.

The government-controlled New Straits Times newspaper reported that ministers had been ordered to wear a suit and tie for tomorrow’s regular Cabinet meeting for an official photograph. Tomorrow marks exactly four years since Najib took power after the coalition’s worst-ever election result.
Najib appeared to be getting ready for battle as he told the Petronas staff, who make up a part of Malaysia’s urban middle class that has swung to the opposition in recent elections, to keep the government in power, according to company officials.

“He told us that we had to vote wisely or Petronas, which has always been independent under the current government, will lose its independence if the opposition came into power,” said a Petronas employee who attended the meeting.
The board of Petronas answers only to Najib, who approved the one-off bonuses amounting to RM40 million.
Petronas, often described as Malaysia’s piggy bank, accounts for up to 45% of the government budget.
Late April polls?
If Najib dissolves Parliament tomorrow, it would signal an election by around the end of the month or in early May, raising doubt over Najib’s participation in a Southeast Asian leaders’ summit in Brunei on April 24-25.
Over the past two years, Najib’s government has handed out about US$2 billion in one-off payments to poorer families, in what the opposition has called thinly disguised vote-buying. Other handouts have included free wheels for taxi drivers, pay rises for civil servants and allocations to schools run by minority Chinese and Indians.
In recent days, the government has announced one-off bonuses of RM500 to more than 40,000 employees of Telekom Malaysia and Pos Malaysia.
Lower income workers make up a large part of Telekom Malaysia and Pos Malaysia and analysts expect state power firm Tenaga to pay out a similar bonus.
“In the past, there would be salary increments and the giving out of election goodies. Now, with these bonuses, it has gone to a new level,” said Ibrahim Suffian, head of the Merdeka Centre polling firm.
Political opponents have said Najib’s delay in calling the polls is a sign of his indecisiveness and concern in the face of a strong challenge by the opposition following its best-ever election performance in 2008.
Najib’s coalition is expected to win the vote but a failure to improve on its last performance could cost him his job.
In recent days, Najib has huddled with senior members of his party to decide on candidates. The ruling coalition has yet to publish its election manifesto.
Najib has repeatedly defended the polls delay, saying he wants time to show Malaysians how they have benefited from his ambitious Economic Transformation Programme, which aims to double per-capita incomes by 2020.
“Election dates are not for announcement until they actually happen. That’s a fact,” Najib told Reuters in an interview last week, laughing off a question on whether the election would be held in April.
Najib remains popular, polling significantly higher than his coalition in surveys. An opinion poll by the respected Merdeka Centre gave him a 61% approval rating in February, but that is down 10 points from the end of 2011.
- Reuters

[PETRONAS l The BLACKGOLD Company In Oil And Gas Business] Publications by Oil & Gas News: China gas drive may cut into oil.

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China gas drive may cut into oil.

Mar 11th 2013, 00:00

China's drive to fuel more vehicles with cleaner-burning natural gas could reduce oil demand by nearly a tenth equivalent to Turkey's total oil consumption and may help ease its cities' toxic smog problem, too.
The country's rise to become the world's biggest car market has seen rapid growth, too, in oil demand over the past decade, and has contributed to the heavy pollution that chokes...
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Posted By akula ni to PETRONAS l The BLACKGOLD Company In Oil And Gas Business at 3/12/2013 01:23:00 PM

[PETRONAS l The BLACKGOLD Company In Oil And Gas Business] Publications by Oil & Gas News: PetroChina willing to jointly develop West Qurna oilfield.

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PetroChina willing to jointly develop West Qurna oilfield.
Mar 11th 2013, 00:00

PetroChina is willing to jointly develop the West Qurna oilfield in Iraq with Exxon Mobil the chairman of China's largest oil and gas producer said.
There has been speculation in recent months that Exxon was considering pulling out of the $50 billion West Qurna 1 oilfield located in southern Iraq after it signed for six blocs with the autonomous Kurdistan regional...
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Posted By akula ni to PETRONAS l The BLACKGOLD Company In Oil And Gas Business at 3/12/2013 01:23:00 PM

[PETRONAS l The BLACKGOLD Company In Oil And Gas Business] Publications by Oil & Gas News: Opec oil output increases: survey.

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Opec oil output increases: survey.
Mar 11th 2013, 00:00

Opec crude oil output rose in February, the first monthly increase since October, due to higher exports from Iraq and a slight increase in supply from top exporter Saudi Arabia, a Reuters survey found.

Supply from the 12-member Organization of the Petroleum Exporting Countries was 30.32 million barrels per day (mbpd), up from 30.21 mbpd in January, the survey of shipping data and sources...

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Posted By akula ni to PETRONAS l The BLACKGOLD Company In Oil And Gas Business at 3/12/2013 01:23:00 PM

[PETRONAS the BLACKGOLD company in oil and gas business] Publications by Oil & Gas News: Oil demand growth moderated: Al Falih.

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Oil demand growth moderated: Al Falih.
Mar 11th 2013, 00:00

Saudi Aramco chief executive Khalid Al Falih said global oil demand growth has moderated, largely because of environmental pressures and lifestyle changes, as well as energy policies.
The head of Saudi Arabia's national oil company also told energy executives that increased output driven by technological advances -- including rapid production growth in prolific US shale and tight oil...
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Posted By akula ni to PETRONAS the BLACKGOLD company in oil and gas business at 3/13/2013 08:29:00 AM

Publications by Oil & Gas News: Oil demand growth moderated: Al Falih.

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Oil demand growth moderated: Al Falih.
Mar 11th 2013, 00:00

Saudi Aramco chief executive Khalid Al Falih said global oil demand growth has moderated, largely because of environmental pressures and lifestyle changes, as well as energy policies.
The head of Saudi Arabia's national oil company also told energy executives that increased output driven by technological advances -- including rapid production growth in prolific US shale and tight oil...