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China’s CNOOC has received its first LNG cargo from the Russian Arctic gas project on November 11. The cargo was shipped from Yamal and was bought from Novatek, a Russian firm. Novatek also controls Yamal LNG along with Total, CNPC and the Silk Road Fund. Meanwhile, CNPC is also planning to buy at least 3 million tonnes of LNG from Yamal starting from 2019.
Papua New Guinea (PNG) has agreed to set financial terms for Total’s long-awaited gas project in the country. The project is expected to double LNG exports from PNG. Papua LNG will supply gas for two new processing units at Exxon Mobil’s PNG LNG plant. Negotiations over how revenue would be shared still require more work.
Metro construction workers, on Monday, damaged GAIL’s underground gas pipeline while drilling a road in Bengaluru. GAIL’s fire safety team attended to the damaged pipeline, as the fire brigade rushed to the spot. Bengaluru Metro Corp. and its contractor have been booked under various sections of PNGRB and IPC. BMRCL cited lack of knowledge about the pipeline presence in the area as the reason of not asking permission from GAIL.
For strategic re-engineering of its subsidiaries, NNPC announced that NIDAS Shipping Services will return into the shipment business after seven years. NIDAS will be involved in the international shipment of crude oil and petroleum products. The re-entry of NIDAS will help in value addition to the corporation and ensure multiple income streams. NIDAS established a chartering and operation desk in its UK office as a first step to regain its market position.
Iranian oil ministry’s website, SHANA reported that the country began the sale of crude oil to private firms for export. The move is being seen as part of a strategy to counter US sanctions, which is scheduled to come into effect on Nov 4th. 280,000 barrels out of 1 million barrels offered on the international exchange were sold at $74.85 a barrel.
French engineering firm, GTT has inked a Memorandum of Understanding (MoU) with South Korea’s Dongsung Finetec to commercialise its LNG Brick® technology. LNG Brick offers an economical and competitive solution with an LNG fuel tank capacity below 3000 cubic meter. Both the firms are looking forward to promote the technology for LNG as fuel applications. Dongsung will construct the solution, to be outfitted on a variety of commercial vessels.
The joint CFO of Reliance Industries Ltd (RIL) informed that the company has stopped the crude imports from Iran ahead of US sanctions against the nation’s oil sector. RIL has started increasing its purchase from other suppliers of US and Middle East in order to reduce Venezuelan oil consumption and make up for the loss of Iranian crude.
CLP Power has got an environmental permit for Hong Kong’s first offshore LNG receiving terminal. The Environmental Protection Department of the territory has considered the project as environmentally safe and has given a nod for its construction and operation. After the final approval from the government, the construction is expected to start from 2019. CLP Power is currently operating three power stations.
Securing contracts from Permian, Alaska through the Bakken and then Louisiana’s onshore energy contract, Wood has won a string of new contracts in US midstream this year. These contracts are worth about £190m, and will create about 1,000 new jobs. CEO of Wood’s Asset Solutions Americas commented “These contracts show the strength and expertise of Wood to deliver a diversified portfolio of energy,”
Polish state-owned, PKN Orlen’s CEO has said that the firm is expecting its first-ever Nigerian oil shipment next month. A batch of 130,000 tonnes of Nigerian oil is scheduled to arrive in Poland, in November. Poland’s biggest refiner, PKN Orlen imports most of the crude oil from Russia through pipelines. The firm signed a long-term agreement with Saudi Aramco in 2016, in its bid to reduce reliance on Russian supplies.
Sources have revealed that India will continue with oil import from Iran, regardless of the US sanctions. State refiners of India have contracted import of 1.25 million tonnes of crude oil from Iran in November, and are looking to facilitate payments with rupee, instead of dollar. Since UCO Bank and IDBI Bank have no exposure to the US financial system, they could be used to route the payment.
Essar took to twitter to inform about starting off gas supply to state-owned GAIL India. Ruia family-owned Essar inked a 15-year contract in August to supply all of its coal bed methane (CBM) production from Raniganj East block to GAIL. The Raniganj East block is predicted to reach peak coal bed methane (CBM) production of 2.3 million standard cubic metres per day.
ExxonMobil is strategizing according to the new global shipping fuel regulations to be effective from 2020. The energy major will plan on a multi-billion dollar investment in its Singapore refinery. It is Exxon’s chief petrochemical complex with a 592,000 bpd capacity. This move is in line with the IMO’s new rules to limit the sulphur content to 0.5% from present 3.5% in order to reduce pollution by ships worldwide.
With Chinese refiners struggling to find alternatives to Iranian crude, oil shipments from West Africa oil to Asia will reach a two-month high in October. Reuters’ calculations and Refinitiv Eikon data show 2.52 million barrels per day (bpd) growth in the loadings for Asia in October. West African oil imports to China are predicted to rise to a record 1.94 million bpd.
Oil minister of India has updated the nation about the recent talks with Nepal. The two countries have agreed to discover various possibilities for laying pipelines to supply LPG and natural gas. Pradhan said “Indian Oil Corporation (IOC) and Nepal Oil Corporation (NOC) will work together on these projects,” The leader of both the countries have agreed to complete the ongoing pipeline work from Motihari, India to Amlekhgunj, Nepal.
Cenovus Energy, has signed a three year deal to transport heavy crude by rail to the US Gulf Coast. The agreement is to transport over 100,000 bpd of crude. The Canadian National Railway Co. will start transportation from the fourth quarter and Canadian Pacific Railway will take over the shipping part from the second quarter of next year. Recently, the pipeline holdup has negatively affected the oil prices in Canada.
India and Bangladesh yesterday jointly unveiled a pipeline project for widening the connectivity network in the region. The projects include the India-Bangladesh Friendship Pipeline and the Dhaka-Tongi-Joydebpur railway project. The unveiling came after the Bangladesh cabinet approved access of Chittagong port by NE states of India. The pipeline will transport high speed diesel to Bangladesh, currently being supplied through cross-border train from Numaligarh refinery.
The world's biggest container shipping group, A.P. Moller-Maersk is gearing up for the new global fuel regulations taking effect in 2020. The new norms set by IMO and the United Nations' shipping agency, caps the sulphur content in marine fuels at 0.5%. Maersk is installing new scrubber technology on a limited number of vessels in its fleet to reduce harmful exhaust emissions.