Archive for July, 2010

Japanese tanker damaged off Oman, cause unclear

Saturday, July 31st, 2010

 

MUSCAT/TOKYO (Reuters) – A Japanese oil tanker damaged in an explosion in the Strait of Hormuz, one of the world’s most important shipping lanes, was being diverted to a port in the UAE on Wednesday.

One of the 31 crew aboard was injured but no oil leaked from the M Star very large crude carrier (VLCC), according to the Japanese transport ministry.

It said an explosion occurred onboard at around 00:30 a.m. local time (2030 GMT Tuesday), but the cause was unclear.

“A crew member saw light on the horizon just before the explosion, so (ship owner Mitsui O.S.K.) believes there is a possibility it was caused by an outside attack,” Japan’s ministry said in a statement.

Oman’s coastguard said there was no evidence of any attack on the tanker and instead cited an earthquake.

“The boat was hit by a tremor …we have no information of an attack,” an Omani coastguard official told Reuters.

The Strait of Hormuz remained open and it was “business as usual,” an official from the Omani ministry of transport said.

Al Qaeda has threatened to attack shipping in the Strait of Hormuz, a route used by some 40 percent of the world’s seaborne oil.

The ship was sailing under its own power toward Fujairah port in the United Arab Emirates (UAE) to check the damage, a Mitsui O.S.K. Lines spokesman said.

The tanker bound for Chiba, near Tokyo, was carrying around 2.3 million buy discount viagra barrels of Qatar Land and Abu Dhabi Lower Zakum crudes, industry sources said.

It carried 16 Filipino and 15 Indian crew members.

Any impact on the Asian spot crude market would be negligible and the tanker would have taken three weeks to arrive

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in Japan, traders said.

“This (event) won’t stop the flow of crude, so there will be no impact on what is able to be bought,” a Tokyo-based crude trader said.

Around 17 million barrels per day of oil flow via the Strait of Hormuz, and Middle East crude accounts for 90 percent of Japan’s total imports.

Petronas Gas To Finalise Study On Proposed Lng Plant By Year-End

Saturday, July 31st, 2010

 

KUALA LUMPUR, July 22 (Bernama) — Petronas Gas Bhd expects to finalise its study on the proposed construction of generic viagra no prescription a new liquefied natural gas (LNG) regasification plant in Peninsular Malaysia to ensure the continuity of gas supply by year-end.

Its chairman Datuk Wan Zulkiflee Wan Ariffin said Petronas Gas had been comissioned

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by Petroliam Nasional Bhd (Petronas) to conduct a study on the proposed construction of the new LNG plant to meet the shortfall in gas supply by 2014.

“According to normal industry package, the installed capacity

of the plant is at about 3.5 million tonnes per year and the capacity could go up or down according to demand,” he said during a media briefing after Petronas Gas’ annual general meeting on Thursday.

Wan Zulkiflee said Petronas Gas was open to the possiblity of any third party, other than Petronas, which wanted to bring in gas into the country to meet shortage in supply.

On the liberalisation of gas prices, he said that it would have no material impact on Petronas Gas as a provider of services and assets under the gas processing and transmission agreement with Petronas.

Concerning the outlook for the financial year ending March 31, 2011, Wan Zulkiflee said Petronas Gas would work hard to sustain its earnings.

For the financial year ended March 31, 2010, the company reported a higher pre-tax profit of RM1.243 billion, up from RM1.231 billion in the previous corresponding period.

At least 12 dead in blast at China factory

Wednesday, July 28th, 2010

Wednesday July 28, 2010

 

By Royston Chan

NANJING, China (Reuters) – At least 12 people died and 15 were seriously injured on Wednesday after an explosion at an abandoned plastics and chemicals factory in the eastern Chinese city of Nanjing, state television said.

The blast flattened buildings within a 100-metre radius, strewing rubble over the ground, and struck a passing bus, on which many passengers were injured.

Pictures showed flames leaping from the site and towering over a nearby three-storey building, with a column of dark smoke rising into the sky.

Windows shattered in buildings up to 3 km (1.9 miles) from the scene of the accident.

“When it happened, I was just there in my shop. There was a loud bang and I saw that the fire was so big,” said witness Lao Yan, 47. “When the explosion happened, everything fell and the door fell on my head and my clothes were all torn.”

Others said they were lucky to be alive.

“If I had come out later by just one or two minutes from the lane, it

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might be that I will not be here alive,” said Ye Kai, 25, speaking from hospital where he was being treated for minor injuries.

“When I drove out of the lane, I smelt something that I could not identify. When I just drove across the road and got out of the car, the explosion happened. The car was damaged, the front windscreen was shattered.”

Rescue workers have bought the fire under control and are combing debris, looking for the injured or dead, state news agency Xinhua said.

Xinhua said an initial investigation showed the explosion, in the city’s northern Qixia district, was caused by a gas leak.

Previously, an official from state-owned oil giant Sinopec said the Levitra 10mg facility was a local liquefied petroleum gas plant. A nearby Sinopec petrol station was unaffected, he said.

 

Petrochemical Factory Blast Kills 4 In Iran

Monday, July 26th, 2010

 

TEHRAN, Iran July 25, 2010, 03:38 am ET

Iran’s official news agency says an explosion at a petrochemical factory on Iran’s largest oil terminal has killed four people.

The Sunday report said high pressure in the central boiler of viagra the factory

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led to an explosion and fire at the facility on

Kharg island in the Persian Gulf.

So far the bodies of three of the victims have been found and the blaze is under control. Several other workers were

injured.

Kharg Island, some 750 miles (1200 kilometers) south of Tehran, hosts Iran’s biggest oil terminal in the Persian Gulf.

Iran is OPEC’s second largest oil exporter, producing around 4.2 million barrels of oil per day.

   

An explosion at a petrochemical factory on Iran’s largest oil terminal has killed four people and injured several others.

Iran’s official news agency said high pressure in the central boiler of the factory led to an explosion and fire at the facility on Khark island in the Gulf.

So far the viagra generic bodies of three of the victims have been found and the blaze is under control

Malaysia can become one of world’s key deepwater oil, gas hubs

Saturday, July 24th, 2010

July 23, 2010, Friday

 

LABUAN: If done right, Malaysia can become a key deepwater oil and gas hub globally after Houston, Rio De Janeiro and Aberdeen, said Deputy Prime Minister Tan Sri Muhyiddin Yassin yesterday.He said clearly, the era of easy oil is over and the exploration and production of oil and gas will move increasingly into deeper waters, presenting new challenges as well as opportunities.

“Engineering and support services demand for this water access in the Asia Pacific, particularly in the South China Sea, which has been growing strongly over the past two to three years.

“Malaysia needs to be nimble in responding to this factor’s new requirements,” he said at the signing ceremony of a memorandum of understanding (MoU) between Asia Supply Base Sdn Bhd (ASB)

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and Labuan Shipyard and Engineering Sdn Bhd (LSE) here.

However, Muhyiddin reminded that the window of opportunity was not perpetual and hence, capacity and capability are of the essence if not paramount for Malaysia to leverage on and build existing oil and gas assets.

He said ASB and LSE in Labuan were both opportunely and strategically located on the doorstep of oil and gas activities, being about 200 nautical miles to the nearest oil and gas fields off East Malaysia.

ASB is a one-stop centralised logistic support centre tailored to the requirements of oil and gas exploration, development and production activities.

LSE meanwhile, has a proven track record in oil and gas engineering and fabrication, shipbuilding, ship-repair and construction of power barges.

The MoU between ASB, a wholly-owned entity of the Sabah government, and LSE witnessed by Muhyiddin, is aimed at turning Labuan into a hub for oil and gas as a positive economic contribution to Sabah.

Through the MoU, ASB and LSE are to offer their capabilties and facilities as established players in their respective fields, namely logistics and engineering fabrication, while positioning themselves to actively participate in the development of the oil and gas industry in Sabah.

According to Muhyiddin, location alone would not make a successful oil and gas regional hub, saying that today, oil and gas players demanded an efficient one-stop shop with fully integrated services of facilities, warehouses, workshops as well as ship maintenance and fabrication yards.

“For example, our worthy oil and gas hub competitors in Singapore have benefited tremendously from a central biographical location and connectivity.

“More importantly, they have successfully leveraged on the comprehensive oil and gas sildenafil ecosystem in place, encompasssing the whole spectrum of operators, specialised equipment manufacturers, service providers and offshore engineering companies,” he highlighted.

Meanwhile, Muhyiddin said Sabah in particular, had shown strong potential in the oil and gas business where recent oil and gas discoveries in the Dumusut / Kakap, Malikai, Jangas, Ubah Crest, Pisangan and Kamunsu deep water fields off the state’s shores were currently being developed and are expected to commence production between 2011 and 2015.

He said the Kikeh deepwater field, the country’s first deepwater offshore development, in fact had already begun production in August 2007.

“This sizeable ultra deepwater blocks offshore, coupled with the Kebabangan cluster gas fields, the completion of the Sabah Oil and Gas Terminal (SOGT) and the Sarawak-Sabah pipeline project, would position Labuan and Sabah as one of the leading oil and gas hubs in the country and possibly in the region,” he added.

Muhyiddin said to stay ahead in the global marine and offshore arena, the Labuan marine and offshore industry, also needed to continually improve the competitive edge.

He said a cost-competitve and efficient pro-business environment, with strong infrastructure and a comprehensive supporting industry, would be critical success factors to bring in investors.

“While cost and efficency are very important short to medium term success factors, the long term key for Labuan to be a successful oil and gas hub, is the creation of a sustainable pipeline of highly skilled and productive workforce grounded on a strong engineering foundation,” he explained. — Bernama

Petra Energy Bullish On Oil And Gas In Sabah ( AGEX 2010 )

Saturday, July 24th, 2010
KOTA KINABALU, July 21 — Integrated oil and gas brown field services provider, Petra Energy Berhad (Petra Energy), is identifying a suitable site for its new onshore fabrication and logistics facility at Sabah’s oil and gas hub in the Kimanis-Sipitang location.

Executive Director and Chief Executive Officer Kamarul Baharin Albakri said the proposed onshore fabrication facility at the hub was part of the group’s strategy to leverage on the growing opportunities in the brown field sector of the upstream oil and gas industry in Sabah.

“The fabrication facility, backed by our framework for strategic expansion in marine assets is primarily to take advantage of the growing opportunities in the Sabah oil and gas market,” he said at the pre-opening of the Asean Oil and Gas Expo 2010 at the Sabah Trade Centre here from tomorrow till Saturday.

The Group currently has a marine spread of six offshore marine vessels comprising four 300-men accommodation and workbarges and two 189-men workboats.

The workbarges are fully equipped with crane capacities, ranging from 50 to 300 metric tonnes, while the work boats are equipped with crane capacities of 25 metric tonnes.

The vessels are all commissioned for offshore platform work, primarily for the Sarawak-Sabah Shell project.

“In recognising the need to further expand our marine spread, we have established strategic alliances with offshore marine partners namely, Petra Perdana, Bourbon Group and Bumi Armada Navigation.

“Through our alliances with the parties, we will have exclusive charters rights to a comprehensive range of marine assets comprising workbarges, workboats, anchor handling tug supply vessels, crew boats and related crafts,” he said.

Kamarul Baharin said: “This, coupled by our core competencies in integrated brown field services, will enable us to efficiently deploy cialis jelly our services for large-scale and integrated-type projects such as topside major maintenance, hook-up, construction and commissioning, topside structural maintenance and subsea maintenance”.

“Our expanded scope of services will give the group an edge over the current level of support services available for such integrated-type of work.

It is therefore important that our entry into Sabah is well structured and coordinated in achieving the overall business objectives and growth plans of the Company as well as delivering stakeholder value,” he said.

Kamarul Baharin said the company was bullish about Sabahs oil and gas market, with reports already indicating that Petronas new focus is to increase domestic output from existing fields, and coupled with new deepwater finds in offshore Sabah, the state would ultimately transform itself into a major oil-producing hub.

“We want to be part

of this growth expansion. Therefore, establishing a comprehensive onshore fabrication facility in Sabah makes perfect business sense, especially when we are driven by our long-term growth strategy in the brown field market.

“Supported by our testament and experience, spanning over 20 years in the industry and in integrated brown field work, I am optimistic of the likelihood of securing new brown field contracts in the years ahead,” he added. – Bernama

Santos in talks to sell stake in flagship project

Sunday, July 11th, 2010

 

PERTH: Australia’s Santos said it is in talks to sell equity in its flagship Gladstone LNG project, triggering a surge in its shares on expectations it may soon sign a multibil-lion-dollar deal with Royal Dutch Shell and avert another equity raising.

Santos said yesterday that it was in “detailed ongoing discussions” with a number of parties on potential equity and liquefied natural gas sales, and on collaboration between projects, but there was no certainty of any agreements.

Santos was responding to two newspaper reports that said Shell has entered the fray to bid for a strategic stake in the Gladstone coal-seam gas-to-liquefied natural gas project.

The Australian Financial Review said Santos was close to inking a A$2 billion (A$1 = RM2.79) deal with Shell to sell a 30 per cent to

35 cialis pills per cent stake in the Gladstone LNG project, while The Australian newspaper said Shell is competing with China’s Sinopec Corp and Korea Gas Corp to buy a stake of between 9 per cent to 20 per cent that could be worth as much as A$1 billion.

 

“Shell has indicated that they are open to consolidation and it is only logical for them to talk to Santos since Shell’s acreage is land-locked and is located right next to Santos’ project, which has a deep-water port good for LNG ship loading,” said Di Brookman, an energy analyst at CLSA Asia-Pacific Markets.

The reports sent Santos shares to close at a 12-week high of A$14.00, after gaining 9.7 per cent.

Trading volumes of 16.2 million was also 3.5 times its 90-day average.

A deal with Shell could be among a long list expected in Australia’s resources sector after the government watered down plans for a disputed mining tax last week.

A potential deal with Shell would greatly reduce Santos’ burden in funding its Gladstone project and alleviate investor concerns that it would need to carry out another equity raising. Santos tapped investors for A$2.5 billion last year to cover its share of costs for another LNG project in Papua New Guinea.

It would also bring clout and certainty to the Gladstone project that major buyers need before they can commit to contracts worth tens of billions of dollars.

“If Shell joins Santos, the credit rating for the project would go up and that will also make it easier for them to sign on major customers,” Brookman said.

The Gladstone project, which will have an initial production capacity of 3.4 million tonnes per annum, is slated for an investment decision later this year, with production targeted to start in 2014.

Santos owns a 60 per cent stake in the project, which it estimated in 2008 would cost A$7.7 billion to build, though most analysts are expecting the cost to have increased.

Deutsche estimates the cost for Santos to build two processing

plants with an export capacity of 7.2 mtpa to be A$16.4 billion.

Malaysian state-owned energy giant Petronas owns 40 per cent, which it bought 2008 for US$2.5 billion (US$1 = RM3.20).

The AFR said Shell would become the operator of Gladstone LNG plant, which will process coal-seam gas into LNG – and incorporate its own Curtis Island LNG project into Gladstone, which is considered to have a superior site for an LNG processing facility.

A merger of projects on the plant level would yield significant economies of scale, although there could also bring risk of a delay to the project’s start-up by about six months, said Adrian Wood, an energy analyst at Macquarie Group.

Should a deal be done between Santos and Shell, the project merger would also hasten the pace for further consolidation in the industry, potentially drawing the Australia Pacific LNG project owned jointly by ConocoPhillips and Australia’s Origin Energy to the table.

Coal seam gas, a form of natural gas extracted from coal beds, has in recent decades become an important source of energy in the United States, Canada, and other countries, but development of Australia’s rich deposits has only just started.

There are five proposed LNG projects around Gladstone port in the northeastern Queensland state. Other projects in the pipeline include BG Group’s Curtis LNG project and a smaller plant planned by Liquefied Natural Gas Ltd. – Reuters

Petronas Expects A Better Year Ahead

Friday, July 9th, 2010

 

KUALA LUMPUR, July 1 (Bernama) — Petroliam Nasional Bhd (Petronas) expects better results for its financial year ending March 31, 2011, despite rising concern over the global economic recovery, president and chief executive officer Shamsul Azhar Abbas said on Thursday.

“The most challenging part (moving forward) is how to manage the cost, given the uncertainties in the Eurozone economies as well as the United States and overheating growth in China,” he told a media briefing on Petronas’ financial performance.

“We are very comfortable now with the first-quarter numbers and hope to see a better year ahead,” he said this when asked on the group’s financial outlook.

Moving forward, Shamsul Azhar said Petronas

was looking to review its global expansion overseas.

He said the group might trim its overseas and focus more on developing and acquiring discovered oil wells although it was expensive to do so.

“We are going to shift a bit from than exploration to the production. Take less risk on exploration, grow the high prospective areas but at the same time grow further in the areas of development and production,” he added.

Market

talks had said that Petronas wanted to shut down its overseas operations.
a
Shamsul Azhar said Petronas would ramp up its domestic operations to focus on the exploration in areas that it had neglected before.

Asked about the industry outlook, he said the average Malaysian crude oil price was expected to be in the range of between US$70 and US$80 per barrel for the rest of this year.

“If the price moves at this level, we should be comfortable,” he added.

For the financial year ended March 31, 2010, Petronas’ average domestic production stood at 1.11 million barrels of oil equivalent (BOE) per day, which represents 68.2 per cent of average total national production.

Total oil and gas production for Malaysia for the year was 1.7 per cent lower at 1.63 million BOE per day.

Average domestic production of oil and gas by the Petronas group consists of its entitlement of the total Malaysian production as well as production by its wholly-owned buy viagra exploration arm, Petronas Carigali Sdn Bhd.

International oil and gas production strengthened to 640,000 BOE per day, representing a rise of 1.7 per cent as lower crude oil and condensate production of 4.1 per cent was more than offset by a 6.2 per cent increase in natural gas production.

By region, Africa continued to dominate the group’s international production with a contribution of 57.7 per cent.

The group’s total assets as at March 31, 2010, stood at RM410.9 billion while shareholders’ fund amounted to RM242.9 billion.

– BERNAMA 

Petronas could start Ethiopian gas exports in 2015

Saturday, July 3rd, 2010

 

Petronas may start exporting natural gas from Ethiopia in five years, when output starts at a plant it is building in that country .

 
 

 

Petroliam Nasional Bhd (Petronas) may begin exporting natural gas from Ethiopia in five years, when production starts at a plant it is building in the country, a Mines Ministry official said yesterday.

Fields being developed by Petronas in Ethiopia contain as much as 4 trillion cubic feet of gas, Eshetu Chala, senior economist at the Addis Ababa-based ministry, said in an interview on Thursday in Kampala, Uganda. Annual production figures have yet to be determined, he said.

“After

five years Ethiopia will become a producer of natural gas,” Chala said. “Our focus is on the export sector since the local market will consume little.”

Petronas paid US$80 million (RM258 million) in 2007 for the rights to develop the Calub and Hilala

gas fields in Ethiopia’s Ogaden basin, according to the Reporter, an Addis Ababa-based newspaper. It may also build a gas-treatment cheap viagra tablets plant and a gas pipeline to a port in neighbouring Djibouti at a cost of US$1.9 billion (RM6.2 billion), the newspaper said.

 

“Drilling is going on, but the output capacity will be determined after an appraisal of reserves,” said Chala.

The Reporter said last month that Petronas suspended work in the Ogaden basin because of security problems. The suspension came after a British geologist was killed in April by bandits, it said. In May, the rebels said they had captured the Hilala gas field. The government denied the attack, saying the fighters were “fabricating rumours”.

Azman Ibrahim, a spokesman for Petronas in Kuala Lumpur, didn’t respond to a voicemail request for comment when called outside normal business hours. Rizan Ismail, Petronas’s country manager for South Africa, didn’t return a call seeking comment. – Bloomberg

What is Pyrovatex ?

Friday, July 2nd, 2010

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