Gulf Oil and Gas Newsletter Sep 2005

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Gulf Oil and Gas Newsletter Sep 2005 - 02

5/27/2007 11:27:29 AM

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Gulf Oil and Gas Newsletter Sep 2005 - 02

	NEWS LETTER
	Volume 092005_02

Oil Market @ GulfOilandGas

The impact of Hurricane Katrina on the oil market Almost three weeks have passed since Hurricane Katrina struck the US Gulf Coast. In addition to the tragic loss of life and the damage to this unique and beautiful region, the hurricane also led to a substantial disruption in the US energy complex. While there has been some recovery, as much as 844 tb/d of production remains shut in, representing 57% of crude oil output in the Gulf of Mexico. Even more damaging, around 1.3 mb/d of US refinery capacity is currently out of operation, including four refineries which have sustained major damage and are not expected to return for a number of months. Oil market news

Middle East Highlights @ GulfOilandGas

Haradh Project Marks Milestone
The Haradh Arab Light Crude Increment-III Projects collectively have reached a major safety milestone: 5 million work-hours without a safety incident. The construction phase is 70 percent complete, with all the major process equipment installed, about 1,090 tons of structure steel erected and more than 3,100 tons of steel piping materials received. More...

KBR Joint Venture To Build Yemen's First LNG Plant
KBR announced that Yemen LNG (YLNG) Company Ltd. has awarded KBR and its joint venture partners, Technip of France and JGC Corporation of Japan, a lump-sum turnkey contract valued at more than $2 billion to provide engineering, procurement, construction, pre-commissioning, commissioning, start-up and operations services for the country’s first liquefied natural gas (LNG) plant. More...

Africa Highlights @ GulfOilandGas

EnerGulf Awarded Nigeria Block 252
EnerGulf Resources Inc. announced that its recently announced EnerGulf/Derock Joint Venture has been awarded deep water Block 252 by the Nigerian government at the Nigeria 2005 Bid Round held in Abuja, Nigeria. The joint venture is owned 60% by EnerGulf and 40% by Derock Nigeria Ltd. More...

Stolt Offshore S.A. Awarded $50 million Contract in Equatorial Guinea
Stolt Offshore S.A. reported the award of a contract valued at approximately $50 million from Amerada Hess for installation work on the Okume Complex in Equatorial Guinea. The contract is for the installation of flexible risers and 116 kms of rigid pipelines between the Okume/Ebano and Oveng Tension Leg Platforms, Elon Satellite
Platforms and the Sendje Ceiba FPSO. More...

Events @ GulfOilandGas

Rotating Equipment 2005
No matter what your core industry, you are fully aware of today’s leaner workforces, tighter budgetary control and increased competitive influence. These pressures are set to increase over the short and long term, and the exposure to catastrophic failure risk is at an all time high.

'SOGAT 2005' - Sour Oil & Gas Technology
SOGAT - International Conference, Workshop and Exhibition providing a forum for discussion of state-of-the-art technology and the latest advances in sour oil and gas processing which are applicable to the middle east. The conference will strive to promote collaboration and an exchange of ideas and concepts.

INTERGAS III 2005
Intergas III is organised under the High Patronage of H.E. Sameh Fahmy, Minister of Petroleum and Mineral Resources from 18-20 December 2005 at the prestigious Cairo International Convention Centre. Established as Egypt’s most important Oil, Gas & Petrochemicals Exhibition and Conference, Intergas III is dedicated to delivering a first class platform that delivers real results to all participants.

World Oil Supply

World Oil Demand

Balance of Supply/Demand

www.gulfoilandgas.com

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