miercuri, 16 decembrie 2009

Youths sabotage onshore gas pipeline and abduct workers in Nigeria

Youths in Nigeria’s southern oil patch sabotaged the onshore Escravos- Lagos gas pipeline and abducted two workers, threatening a three-month truce that has led to tentative peace in the restive Niger Delta region. The only remaining source of gas supply to the thermal power plants across the country remains in failed portions of the pipeline. Repairs on the damaged parts have been suspended after the attack.

The Nigerian Gas Company-operated pipeline, which has a design capacity of 600,000 Mcf/day, had been expected to supply an additional 200,000 Mcf/day of gas for the Power Holding Company’s thermal stations and the pipeline sabotage threatens the government’s plan to raise power supply to 6,000 MW by the end of December.

The country’s most armed group, the Movement for the Emancipation of the Niger Delta, declared an indefinite ceasefire on October 25 to allow talks to go ahead with the government. But activists say the plan does not address any of the militants’ key demands and fear they could return to the creeks and resume attacks if they do not quickly find work.

miercuri, 2 decembrie 2009

Saudi Aramco CEO: Will Try to Help Stabilize Oil Prices

Saudi Arabian Oil Co., or Saudi Aramco, will do its part to keep oil prices from rising excessively and thus damaging a nascent global economic recovery, Chief Executive Khalid Al Falih said Wednesday.

Al Falih told reporters in Seoul he expects the refining industry to remain weak into next year, although signs of a recovery are appearing, according to a statement issued by S-Oil Corp., in which Saudi Aramco has a 35% stake.

The chief executive of Saudi Arabia's state oil company is in Seoul to discuss its shipments to South Korea.

While declining to provide a forecast for oil prices next year, he said large oil companies like Saudi Aramco need to have enough spare capacity for global oil prices to stabilize at an "appropriate" level.

Saudi Aramco recently completed the expansion of its output capacity to 12 million barrels a day, which will help stabilize oil prices, he added.

Qatar's oil minister said early this month the Organization of Petroleum Exporting Countries will keep output quotas unchanged at its Dec. 22 meeting in Angola, despite fears that Dubai's debt crisis could weigh on the global recovery.

Al Falih said the Dubai crisis won't affect Saudi Arabia, as the country's financial and property markets are "strong."

He added the crisis won't spread globally because Dubai is "seriously" trying to solve the debt problem.

Dubai World, the city-state's largest corporate entity, last week asked creditors for a six-month standstill on debt repayments, sending shock waves through global markets.

Saudi Aramco may increase crude oil sales volumes to South Korean refiners such as SK Energy Co. and GS Caltex Corp. to help ensure a stable supply, Al Falih said, according to S-Oil.

Saudi Aramco is also considering selling crude to Hyundai Oilbank Corp., which isn't currently a client, he added.

Hyundai is currently receiving crude oil mainly from the United Arab Emirates' state-owned Abu Dhabi National Oil Co., or Adnoc.

"While there are worthy aspirations for the development of renewable and alternative sources of energy in the future, Korea, its economy and its society will continue to rely upon petroleum for decades to come," Al Falih said during a speech at Seoul National University.

Saudi Aramco provides over 30% of South Korea's crude oil needs, making the company the largest single source of imported energy for the country.

sâmbătă, 7 noiembrie 2009

Halliburton Wins 5-Yr Drilling Gig in Mega-Giant Ghawar Field

Halliburton has been awarded the integrated turnkey drilling contract in South Ghawar. Located approximately 200 kilometers (124 miles) from the city of Dhahran, the Ghawar field is the world's largest oil field and the contract would involve work in Uthmaniyah, Haradh, Hawiyah and Shedgum.

The five-year contract, with an option for an additional five-year period, calls for the provision of drilling rigs, directional and horizontal drilling, logging while drilling, cementing, mud engineering, wireline logging, completion, perforating, and other well construction activities, including engineering and management of the entire drilling operations. The project is expected to utilize three to four rigs, and will involve between 153 and 185 oil production, water injection and evaluation wells.

This contract is Saudi Aramco's first-ever award for an integrated turnkey drilling contract and is an important part of Saudi Aramco's plan to explore new avenues of collaboration with major oil field services providers.

Ahmed Lotfy, Halliburton's Eastern Hemisphere president, said, "Our selection by Saudi Aramco for yet another project of this magnitude demonstrates its continued confidence in our ability to successfully execute complex and challenging operations. This contract award includes a full range of Halliburton's integrated technologies and services and provides a platform for future successes."

"This award builds on the success we delivered on the Khurais mega-project, reflecting our leading technologies and solid performance," added Gasser Badrashini, Halliburton's Middle East and North Africa regional vice president.

Halliburton has performed thousands of service operations for Saudi Aramco, delivering solutions for the state-owned oil company of the Kingdom of Saudi Arabia for nearly 70 years. From well construction to fluid systems and from drilling and formation evaluation to production optimization, Halliburton has worked in a multitude of different reservoirs and wells, ranging from basic to complex, with customized solutions for Saudi Aramco's Drilling and Workover and other Exploration and Production departments.

duminică, 1 noiembrie 2009

Largest cruise ship squeezes under Danish bridge

KORSOER, Denmark – The world's largest cruise ship cleared a crucial obstacle Sunday, lowering its smokestacks to squeeze under a bridge in Denmark.

The Oasis of the Seas — which rises about 20 stories high — passed below the Great Belt Fixed Link with a slim margin as it left the Baltic Sea on its maiden voyage to Florida.

Bridge operators said that even after lowering its telescopic smokestacks the giant ship had less than a 2-foot (half-meter) gap.

Hundreds of people gathered on beaches at both ends of the bridge, waiting for hours to watch the brightly lit behemoth sail by shortly after midnight (2300GMT; 7 p.m. EDT).

"It was fantastic to see it glide under the bridge. Boy, it was big," said Kurt Hal, 56.

Company officials are banking that its novelty will help guarantee its success. Five times larger than the Titanic, the $1.5 billion ship has seven neighborhoods, an ice rink, a small golf course and a 750-seat outdoor amphitheater. It has 2,700 cabins and can accommodate 6,300 passengers and 2,100 crew members.

Accommodations include loft cabins, with floor-to-ceiling windows, and 1,600-square-foot (487-meter) luxury suites with balconies overlooking the sea or promenades.

The liner also has four swimming pools, volleyball and basketball courts, and a youth zone with theme parks and nurseries for children.

Oasis of the Sea, nearly 40 percent larger than the industry's next-biggest ship, was conceived years before the economic downturn caused desperate cruise lines to slash prices to fill vacant berths.

It was built by STX Finland for Royal Caribbean International and left the shipyard in Finland on Friday. Officials hadn't expected any problems in passing the Great Belt bridge, but traffic was stopped for about 15 minutes as a precaution when the ship approached, Danish navy spokesman Joergen Brand said.

Aboard the Oasis of the Seas, project manager Toivo Ilvonen of STX Finland confirmed that the ship had passed under the bridge without any incidents.

"Nothing fell off," he said.

The enormous ship features various "neighborhoods" — parks, squares and arenas with special themes. One of them will be a tropical environment, including palm trees and vines among the total 12,000 plants on board. They will be planted after the ship arrives in Fort Lauderdale.

In the stern, a 750-seat outdoor theater — modeled on an ancient Greek amphitheater — doubles as a swimming pool by day and an ocean front theater by night. The pool has a diving tower with spring boards and two 33-foot (10-meter) high-dive platforms. An indoor theater seats 1,300 guests.

One of the "neighborhoods," named Central Park, features a square with boutiques, restaurants and bars, including a bar that moves up and down three decks, allowing customers to get on and off at different levels.

Once home, the $1.5 billion floating extravaganza will have more, if less visible, obstacles to duck: a sagging U.S. economy, questions about the consumer appetite for luxury cruises and criticism that such sailing behemoths are damaging to the environment and diminish the experience of traveling.

It is due to make its U.S. debut on Nov. 20 at its home port, Port Everglades in Florida.


marți, 27 octombrie 2009

Focus Energy Limited - Project: Block RJ-ON/6

The Block is located in Indus Basin in Rajasthan, two gas discoveries have been made at the Block. High quality reserves of natural gas has been discovered in the sub-basin of Jaisalmer district in Rajasthan.

The discovery was made in excellent cretaceous reservoir sandstones at a depth of 3,100 meters. The well flowed 15 mmscf/d (million standard cubic feet per day) of almost pure methane gas through a 48/64 choke. The discovery of the gas has been confirmed through conventional open hole drill stem test.

The block is located is surrounded by Acreages with significant world class oil and gas discoveries on Pakistan side. Multi TCF, 2P reserves has been so far discovered in Pakistan within 35-50km distance of the block.

SNAPSHOT

Basin Area - 126,000 sq km
Basin type – Pericratonic Rift Basin
Proven Sedimentary Section

  1. Age Range: Cambrian to recent
  2. Thickness ~ 5000m
Petroleum Geology

  1. Expected Reservoir Rocks: Classic and carbonate reservoirs in Cambrian to Paleocene sequences.
  2. Expected Source Rocks: Paleozoic limestone and shales in Permian, Jurassic and Cretaceous.
  3. Expected Cap Rocks: Intra-formational shales and tight limestones
Proven/Expected Play Type
Structural Highs and fault closure
Stratigraphic / Structural Traps

duminică, 25 octombrie 2009

Oil Prices Stay Bullish at $80, Natural Gas Slips Further

A stronger dollar helped push oil prices lower, settling the price of crude oil at $80.50 a barrel on the New York Mercantile Exchange Friday, or a decline of 69 cents from Thursday's closing price. Furthermore, natural gas settled at $4.787, falling 16 cents lower than the previous days record high of $4.947 per thousand cubic feet on the NYMEX.

Oil prices had risen to a one-year high of $82 Wednesday, after rallying more than 10% in a week. The high oil price correlated to the weakening dollar, which reached a 14-month low, comparable to a basket of other currencies during the week.

Earlier in the day, crude did not reach yesterday's closing price and even slipped below the $80 mark, but slowly rallied above the threshold as the dollar strengthened. Additionally, the S&P stock index fell more than a percentage, making investors question whether the economy will recover anytime soon.

"It is still a bull market for commodities, but the bullish has to do with fear of the dollar, fear of inflation, and less to do with supply and consumption," commented Bill O'Grady, the chief markets strategist at Confluence Investment Management LLC, an investment advisory and management firm.

Drop in Equities Weighs on Crude Market

"Frankly, the price dropped today due to other markets," stated O'Grady. "The drop in equities really has a lot more to do with global markets; commodity markets have been positively correlated to equity markets, really throughout this whole recovery."

Rumors are floating that OPEC is considering raising production when it meets in December. However, OPEC put conditions on raising their production: the price has to stay in the same price range and inventories have to go down. "Inventories aren't going down," says O'Grady. "My hunch is that the price will stay in the $75 to $85 range for a while. However, it will be tough to get it to go over $85 because OPEC has made enough noise expressing concern about the current price."

"Unless there is a major break in stocks or a major lift in the dollar, we probably won't see it reach above the $85 mark," continued O'Grady. "I wouldn't be all that surprised to see a retest of the $75 mark," he added

Natural Gas Slips Further

The price of natural gas closed at $4.787 on the NYMEX Friday, falling 19 cents from yesterday's closing price. As the winter months approach, the price of natural gas is expected to stay right below or on the $5-point mark.

"We are hitting the moment where the temperature really matters on price and what we have seen so far has been supportive," the analyst stated. "We have come a long way so far, prices were below $3 not too long ago, and now we are hitting prices we haven't seen in quite some time. This has been a pretty impressive recovery."

vineri, 23 octombrie 2009

Tare piesa: Tiesto Feat. CC Sheffield - Escape Me

http://www.youtube.com/user/officialtiesto?blend=1&ob=4#p/u

joi, 22 octombrie 2009