Gulf Oil and Gas Newsletter Jan 2008 Vol 6 Issue 1

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Gulf Oil and Gas Newsletter Jan 2008 Vol 6 Issue 1

2/10/2008 8:47:58 AM

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Gulf Oil and Gas Newsletter Jan 2008 Vol 6 Issue 1

Newsletter Volume 06 Issue 01

Asia & Middle East Highlights

Ivanhoe Energy to enter Phase II of the Sichuan Gas Project in China
Ivanhoe Energy will proceed with Phase II of its gas exploration and development contract for the Zitong Block in China’s Sichuan Basin. Mitsubishi Gas Chemical Co., which owns a 10% working interest in the project, also has indicated its interest in proceeding with Phase II. More...

LUKOIL and GAZPROM NEFT establish a joint venture
LUKOIL and GAZPROM NEFT have established a joint venture, OOO Oil and Gas Company “Regional Development”. LUKOIL owns a 49 percent stake in the authorized capital of the joint venture, GAZPROM NEFT has a 51 percent stake. The authorized capital of the enterprise will be comprised of monetary contributions. More...

AMEC Berca Indonesia awarded a fifth contract with TOTAL
AMEC Berca Indonesia has been awarded an engineering design contract for TOTAL E&P Indonesie's Tunu Phase 12 gas and condensate field in the Mahakam river delta, East Kalimantan, Indonesia. This is the fifth contract undertaken by ABI for TOTAL in Indonesia in the past twelve months, bringing the total value of work to over £4 million (US$8 million). More...

Takreer, Neste Oil and OMV sign Heads of Terms for Base oil Plant in Abu Dhabi
Abu Dhabi Oil Refining Company - Takreer, Neste Oil of Finland and OMV are proceeding with their plans to form a joint venture company and build a plant to produce sulfur free, Very High Viscosity Index (VHVI) Group III base oil in Ruwais (Abu Dhabi). The base oil will be used for blending top-tier lubricants . More...

Africa Highlights @ GulfOilandGas

Total launches Pazflor development on Block 17. A world technology first
Total announces the award of the principal contracts for the giant Pazflor oil development, the third development centre on Block 17, deep offshore Angola, following Girassol and Dalia. Drilling operations are planned to commence in 2009 and oil production is scheduled to start in 2011. More...

COSL Secures First Overseas Onshore Drilling Contract
China Oilfield Services announced that it has joined hands with a Libyan drilling company to secure a service contract of four onshore drilling rigs. Pursuant to the contract, COSL will provide two 7,000-meter and two 5,000-meter drilling rigs, as well as tens of senior technical workers for implementation and management of the project. More...

Events @ GulfOilandGas

3rd Annual African Biofuels
The Institute for International Research (IIR) invites you to attend the 3rd African Biofuels from 10-13 March 2008. African Biofuels has grown with the biofuels industry in South Africa and now has spread its scope and reach into the rest of Africa and indeed the world.

Oil & Gas Refinery Asia 2008
This conference will address the challenges faced by the refiners in all the emerging markets and will cover key topics such as refinery economics, supply and demand issues, investment strategies and opportunities, the impact of high oil prices, refinery integration as well as the latest in technological advances and the expansion of low-cost production facilities.

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Oil Market @ GulfOilandGas

Highlights of the World Economy - Dec 07
USA: despite an upward revision of third quarter annualized GDP growth rate to a strong 4.9% from an earlier 3.9% estimate, the prospects for the coming quarters have continued to darken. Rising foreclosures, falling home prices, declining consumer confidence and tighter credit are expected to take their toll on consumer spending in the coming holiday season and to restrain private consumption in 2008. More...

World Oil Supply
World Oil Demand
Balance of Supply/Demand

www.gulfoilandgas.com

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