Oil Prices Fall. Brent lost nearly 2 percent Tuesday amid a stronger dollar and news that Iran is on target to reach peak production. [Reuters]
U.S. Universities Cut Coal Consumption In Favor Of Natural Gas. Higher education institutions are using a higher amount of natural gas as coal use continues to decline.[EIA]
Chinese Oil Reserves Remain A Mystery. Analaysts aren't quite sure of the true extent of strategic oil reserves in China, leaving questions over the country's excess crude. [Bloomberg]
Russian Oil Privatization Saga Points To Limits of Putin's Power. "Russia's decision to postpone the privatization of a mid-sized oil company has sent a message to investors: for all his power, President Vladimir Putin has failed to stop political infighting getting in the way of business."
Egypt, Cyprus Sign Gas Transfer Deal. Groups say a new deal will allow a direct subsea pipeline from Cyprus to Egypd for domestic consumption or re-export of natural gas.
Saudia Arabia Won't Flood Oil Market Ahead Of Meeting. Saudi's energy minister said his country isn't concerned about global demand despite a slower economy and the country says it won't flood an already saturated market. [Bloomberg]
Canada's Economy Slowly Recovers From Fires. The loss of momentum in the Canadian enconomy after the Alberta wildfires appears to be diminished, with a recovery helped by oil and gas production. [Bloomberg]
Indian Oil Corp. To Continue Importing LNG Cargoes. Following an expansion of the Dahej import terminal on the west coast, India will continue importing at least two LNG cargoes a month. [Reuters]
Pakistan Battles Energy Shortage With Floating LNG Terminals. Pakistan plans on saving big over traditional on-land terminals with LNG terminals that will help thecountry meet its energy needs. [The Wall Street Journal]
U.S. Oil Companies Pushing For Tax Law Changes. Major oil companies might be strengthening their case against U.S. corporate taxes on foreign earnings. [The Wall Street Journal]
来自/Offshore Energy Today 8月31日消息 编译/赵美园石油圈原创www.oilsns.com
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Abu Dhabi National Energy Company (TAQA) has appointed Mohammed Al Ahbabi as acting CFO effective September 1, 2016.
TAQA said on Wednesday that Al Ahbabi, who is currently deputy CFO of the company, will replace Grant Gillon. Al Ahbabi started his career at Abu Dhabi Company for Onshore Oil Operations (ADCO). He joined the Abu Dhabi Ambulatory Healthcare Services (SEHA) government agency in 2009 where he held the position of CFO before joining TAQA as deputy CFO in January 2016. Al Ahbabi holds an MBA from the New York Institute of Technology.
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Saudi Arabian Energy Minister Khalid Al-Falih said the top crude exporter does not target a specific figure for its oil production and that its output is based on customers' needs.
Al-Falih said that despite low crude prices, "demand for oil does not worry me", adding that demand for crude in China remains "very healthy". The minister is part of an official Saudi visit headed by Deputy Crown Prince Mohammed bin Salman aimed at bolstering relations with China. The delegation heads to Japan late on Wednesday.
Saudi Arabia produced 10.67 million barrels per day (bpd) of crude, the most in its history, in July. Al-Falih told Reuters last week that production in August had remained around that level, though he could not cite a specific number. Saudi Arabia has a production capacity of 12.5 million bpd, giving it the ability to boost output in case of any global shortage. "The market now is saturated with oversupply and we don't see in the short term a need for the kingdom to reach its maximum production capacity," he said.
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Iraq doesn't expect to resume production from the northern Qayyara oil region before the capture of nearby Mosul from Islamic State, an oil ministry spokesman Asim Jihad said on Tuesday.The region's two main fields, Qayyara and Najma, used to produce up to 30,000 barrels per day of heavy crude before it fell under control of the ultra-hardline militants two years ago. It has also a small refinery to process some local oil.
The Iraqi army took Qayyara back last week and oil ministry services started putting out fires at wells caused by insurgents as a tactic to escape air surveillance and hamper the progression of Iraqi forces.The oil ministry also dug trenches to prevent oil spills from reaching the Tigris river, Jihad said. Angolan oil company Sonangol pulled out from an agreement to increase output at the Qayyara fields in 2014, citing the increased security risk.
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Van Oord, a Dutch contracting company that specialises in dredging and land reclamation, said it has successfully executed the impressive ground improvement project for Kuwait National Petroleum Company (KNPC).The project, which started in 2014, involved the reclamation of 65 million cubic metres of sand and extensive soil improvement. The reclamation area of 1,320 hectares is intended for one of the largest oil refining plants in the Middle East, said the company in a statement.Upon completion, the Al Zour Refinery will produce 615,000 barrels per day and has a strategic goal of supplying low-sulphur fuel.The refinery will be constructed on the reclaimed land in a ‘sabkha area’, a salt plain near the coast, 30 km north of the Saudi border. The reclamation project, executed by Van Oord, was the first phase of KNPC’s investment programme for this new refinery, it stated.This project comprises land reclamation for the construction of a port and the first phase of a LNG import facility, it added.
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Oil futures rose on Tuesday supported by production suspensions in the US Gulf due to an expected tropical storm and speculation that producers meeting in Algeria next month will act to prop up prices.Brent crude futures were trading at $49.58 per barrel at 1358 GMT, up 32 cents from the previous close.US West Texas Intermediate (WTI) crude was up 39 cents at $47.37 a barrel.Oil and gas operators in the U.S. Gulf of Mexico have shut output equal to 168,334 barrels per day (bpd) of oil and 190 million cubic feet per day of natural gas as a precaution against a tropical storm, the U.S. Bureau of Safety and Environmental Enforcement said on Monday.
Shell said it had shut production at its Coulomb field in the region after BP shut its Na Kika platform ahead of Tropical Depression Nine.Oil prices are caught between concerns about oversupply and a strong dollar on the one hand and the prospect of further jawboning from Opec members that some form of production freeze could be on the cards," CMC Markets senior analyst Michael Hewson said.
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石油部长Jabar Al Luaibi上周表示:伊拉克将与其他OPEC成员国一道,在提升油价方面扮演积极踊跃的角色。但与此同时,他又计划增加石油产出。目前该国石油产量维持在460万桶/天。
伊拉克95%的预算来自石油销售。在低油价和打击伊斯兰国高成本的双重拖累下,该国经济已陷入衰退。
来自/Trade Arabia 8月30日消息 编译/赵美园石油圈原创www.oilsns.com
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Iraq would support a decision by Opec to freeze oil output to prop up prices, Iraqi Prime Minister Haider al-Abadi told a news conference in Baghdad on Tuesday.
"We are with freezing production at the Opec meeting," he said, in the clearest indication yet about the position Iraq will support when the oil exporters' group meets next month.
Opec's second-largest producer, after Saudi Arabia, Iraq has previously sent contradictory signals about its position.
Oil Minister Jabar Al Luaibi last week said Iraq plans to play "a very active role" with other Opec members to support prices while at the same time expanding its own output, which now stands at about 4.6 million barrels per day.
Iraq funds 95 per cent of its budget through oil sales. Its economy is reeling under the double impact of lower crude prices and the cost of fighting Islamic State.
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Quattro Exploration and Production Ltd. (TSX-V:QXP) ('Quattro' or the 'Company') announces its financial results for the quarter ended June 30th, 2016, reporting a loss of $0.02 per share for the 6 month period ended June 30, 2016. Despite these challenges Quattro is pleased to report that in the first half of 2016 production averaged 1,593 boe per day, representing a year-over-year increase of 15% from the average production of 1,390 boe per day recorded during the same per period in 2015.
In the second quarter oil and natural gas production at Quattro was limited to 1,540 boe/d due to a decision to limit capital investments to only oil production, during a period of extremely low commodity prices. Quattro continues to believe that a diversified production base of oil and natural gas is a fundamental requirement within the industry, and for the foreseeable future Quattro intends to increase oil production to where it will represent a sustainable 60% of its daily production, with this transformation being accelerated with the completion of its divestiture plan previously announced on August 2, 2016. Over the past 12 months the Company's oil production continues to increasingly offset natural gas prices that in the 2nd quarter briefly reached lows of $0.60 per mcf. The Company's decision in the 4th quarter of 2015 to more aggressively increase oil reserves and production through acquisitions has proven to be timely as natural gas prices are only now recovering to a more seasonally adjusted price range of $2.50 to $3.50 per mcf from prices not seen in over 20 years.
Petrofac的董事长Rijnhard van Tets说:“很高兴Alastair即将加入我们。他在企业融资、财政、风险管理与战略方面知识渊博,在财务与商业问题上拥有敏锐的洞察力,这对于公司业务和董事会来说是一笔宝贵的财富。”
来自/OilVoice 8月31日消息 编译/郑雨晴
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Petrofac Limited, the international oil & gas facilities service provider, announces that Alastair Cochran will join the Company on 3 October 2016 and, following a short handover, will formally succeed Tim Weller as Chief Financial Officer and Executive Director, at the Company's October Board meeting. As previously announced, Tim Weller will leave the Group in October 2016 to take up the role of Chief Financial Officer of G4S plc.
Alastair, 46, will join Petrofac from BG Group plc, where he was most recently Transition Head of BG Global Strategy & Business Development overseeing the integration of BG Group following its acquisition by Royal Dutch Shell plc. Prior to that Alastair was Group Head of M&A and Corporate Finance at BG Group.
Chartered Accountant Alastair, who has 25 years' experience, began his career with KPMG and spent his earlier career in investment banking, including with Morgan Stanley and Credit Suisse, advising on a wide range of capital market and M&A transactions.
Rijnhard van Tets, Petrofac's Chairman, said: 'We are very pleased that Alastair has agreed to join Petrofac. His broad range of skills encompassing corporate finance, treasury, risk and strategy, underpinned by his strong financial and commercial acumen, will be a key asset both in the business and around our Board table.'
Bell Geospace将为其提供一系列专业的技术服务。这也为当前石油项目承包商及潜在的投标人找寻新的勘探目标提供可能,使其在复杂的地质构造中能够快速高效地识别可勘探区域。
Bell Geospace的执行副总裁John Macfarlane称:“勘探数据对于目前在马来西亚进行作业的公司来说尤为重要,因为这使我们可以快速对感兴趣的区块进行选择,并对后续地震数据的采集进行计划。”
来自/OilVoice 8月31日消息 编译/郑雨晴
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Bell Geospace, the world leader in Gravity Gradiometry, together with Onyx Engineering, has been awarded a contract by multinational exploration business, Petroliam Nasional Berhad (PETRONAS).
The contract, for 3D multi-client Full Tensor Gradiometry (FTG) data acquisition, processing and interpretative services, will cover approximately 198,900 square kilometres. The provision of airborne FTG and magnetic surveys will be undertaken over offshore Peninsular Malaysia, Sarawak and Sabah and will commence subject to pre-funding requirements and approval by PETRONAS.
With its unique expertise and track record in high resolution gravity technology, Bell Geospace will provide a variety of expert services for the project. This will allow current petroleum arrangement contractors and potential bidders seeking new exploration blocks, to quickly identify prospective areas for quick and efficient understanding of complex sub-surface geology.
John Macfarlane executive vice president of Bell Geospace comments: 'We expect that this data will play a significant role in the exploration process for companies working or considering working in Malaysia, allowing for the first time ever, a rapid selection of areas of interest for bidding and for planning for subsequent seismic acquisition and interpretation work.'
Royal Dutch Shell plc今日通过其子公司Shell Offshore Inc. (Shell)宣布,将向EnVen Energy Corporation出售Brutus/Glider资产下属的墨西哥湾Green Canyon114、158、202与248区块100%的开采权益。根据Shell的全球资产转让计划,交易数额为4.25亿美元。
Royal Dutch Shell plc, through its affiliate Shell Offshore Inc. (Shell), today announces it has an agreement to sell 100 percent of its record title interest in Gulf of Mexico Green Canyon Blocks 114, 158, 202 and 248, referred to as the Brutus/Glider assets, to EnVen Energy Corporation, through its affiliate EnVen Energy Ventures, LLC. In line with Shell's global divestment plans, this transaction includes $425 million in cash.
The transaction is expected to close in October.
The Brutus/Glider assets include the Brutus Tension Leg Platform (TLP), the Glider subsea production system, and the oil and gas lateral pipelines used to evacuate the production from the TLP. The Brutus/Glider assets have a combined current production estimate of approximately 25,000 barrels of oil equivalent per day (boe/d).
Oil Discoveries Fall to 70-Year Low. Analysts are concerned about thinning exploration budgets, as last year signaled the smallest amount of new supply discovered since 1947.
Shell Says Oil Market Rebalancing Could Take Until 2017. Still hoping oil prices might rebound or at least stabilize? Shell's chief energy adviser says it still might take some time. [Reuters]
US Oil Prices Rise. Brent crude futures and U.S. West Texas Intermediate were both up on Tuesday, boosted by production suspensions in the U.S. Gulf due to tropical storm activity and the upcoming OPEC meeting. [Reuters]
Chevron Signs LNG Supply Deal In Asia. Chevron Corp. signed a 10-year term supply deal with China's ENN LNG with the first delivery expected around 2018 or 2019. [Reuters]
Uganda Opens Door For Oil Investments. Ugandan officials say they expect billions of dollars in oil investments as it continues to award petroleum production licenses. [UPI]
Shell Sells Off U.S. Gulf Assets. Shell announced the sale of the 100 percent stake of three blocks to EnVen Energy Corp. [UPI]
Iran Invites Foreign Bids. Iranian officials are welcoming international oil companies to submit bids in the next few months as the country looks to raise billions from investors for raising oil production. [Bloomberg]
CEO Not Ruling Out Major Price Surge. The chief executive of a global energy firm is not ruling how a major surge in oil prices, but just how high could that go? [CNBC]
Natural Gas Prices Fall Amid U.S. Gulf Storms. A rally by natural gas sputtered out as tropical storms show their potential to disrupt supply off the U.S. coast. [The Wall Street Journal]
Phillips 66 Partners To Acquire Chevron Natural Gas Liquids Systems. Phillips 66 Partners is expecting to reap about $25 million in earnings from its new assets in 2017. [Houston Business Journal]
来自/Offshore Energy Today 8月30日消息 编译/赵美园石油圈原创www.oilsns.com
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U.S. Gulf of Mexico operators Shell and BP were shutting down production from some of its offshore facilities on Monday ahead of a tropical depression. BP and Shell on Monday afternoon said they were monitoring the tropical depression, and conducting preparations to ensure safety of personnel and its offshore platforms.
“With forecasts indicating the system will be entering the eastern Gulf of Mexico, BP has evacuated all non-essential personnel from its four operated platforms in the Gulf and has begun shutting-in production at the Thunder Horse, Na Kika and Atlantis platforms,” BP said, adding that its other offshore production platform in the Deepwater Gulf, Mad Dog, is farther to the west and continues to operate.
As for Shell, it shut in production at the Coulomb field following the shut in of associated downstream oil and gas gathering systems and receipt points. The Coulomb field is 100% owned by Shell. Shell said production was unaffected at all other Shell-operated assets.
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