Kuwait Financial Centre “Markaz” Daily Oil &Gas Bulletin – 28 May 2012
Oman Invites Bids for Major Oil Project– Petroleum Development Oman (PDO) has invited tenders for a major project that involves construction of four parallel compression trains with a total capacity of 30 million standard cu m of gas per day at Saih Rawl area, said a report. UAE Major Pipeline Opens in June– A pipeline being built by the UAE to pump most of its oil exports from east coast terminals bypassing the Iran-threatened Strait of Hormuz, will be operational in June. Construction of the 360km pipeline began in 2008. It will have an initial capacity of 1.5 million barrels per day (bpd) rising to 1.8m bpd, which represents the bulk of the UAE's current production of around 2.5m bpd, he said. The Habshan-Fujairah pipeline will carry oil from fields in Abu Dhabi on the Gulf to Fujairah on the Gulf of Oman. Egypt's EGAS To Launch Tender For Gas Exploration In Mediterranean – Egypt’s Natural Gas Holding Company plans to soon launch a tender for natural gas exploration in the Mediterranean Sea according to Abdullah Ghorab, the country's minister of petroleum and mineral resources. Ghorab also said that the Egyptian General Petroleum Corporation will complete the evaluation of bids submitted by 24 international companies in a tender that closed at the end of March. He said that this deal involves oil exploration works in new areas in Egypt's Western desert.
Oil & Gas Prices Currency
IPG OULAFUEL ABAR BPCC SABIC SAFCO
Independent Petroleum Group Oula Fuel Co. Burgan Co. for Well Drilling Boubyan Petrochemicals Co. Saudi Basic Industries Corp. Saudi Arabian Fertilizer Co.
KWD KWD KWD KWD SAR SAR
320 285 202 610 94.75 177
0.00% 0.00% -4.72% 0.00% 1.07% 0.43%
N/A 26.06 29.23 33.63 9.87 10.89
PETROR YANSAB IQCD QGTS DANA TAQA
Rabigh Refining & Petrochemical Co. YANBU National Petrochemical Industries Qatar Qatar Gas Transport Co. Dana Gas Abu Dhabi National Energy Co.
SAR SAR QAR QAR AED AED
21.3 46.9 139.2 15.81 0.4 1.19
0.47% 0.43% 0.87% 0.25% 0.00% -0.83%
N/A 8.30 9.89 10.67 4.05 6.41
Shell Oman Marketing Co.
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Aramco, Sumitomo Make Giant Strides on Rabigh II Development – Aramco, with its partner Sumitomo Chemical, have made significant progress on the feasibility of the Rabigh Phase II Project and will proceed to implement the expansion of a world-class petrochemical complex on the Kingdom's west coast. Rabigh II will complement Saudi Aramco's existing petrochemical investment portfolio especially in light of the Rabigh I petroleum refining and petrochemical production complex.
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Regional Oil & Gas Highlights Aramco 2011 Crude Output Tops 9m bpd – Saudi Aramco's crude oil output in 2011 rose to 9.1 million barrels per day (bpd) from 7.9 million a year earlier, the state oil firm said in an annual review released on Monday. Exports by Saudi Aramco, the oil company of the world's largest oil exporter, jumped to 2.42 billion barrels in 2011 from 2.02 billion in 2010, it said, rising to 6.63 million bpd from 5.5 million.
95 90 85
5 4 3
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