Gulf Oil and Gas Newsletter Oct 2005

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Gulf Oil and Gas Newsletter Oct 2005 - 02

5/27/2007 11:34:01 AM

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Gulf Oil and Gas Newsletter Oct 2005 - 02

	NEWS LETTER
	Volume 102005_02

Oil Market @ GulfOilandGas

Winter oil market outlook by OPEC : The post-Katrina rise in energy prices is expected to affect US consumer spending nationwide in the fourth quarter. Consumers may absorb part of the higher costs by further reductions in savings but GDP growth is likely to fall to 2.5%, well below the 3.5% recorded in the first half. Nevertheless the strong performance of the earlier part of the year means that US growth for 2005 as a whole will be about 3.5%. The impact of the higher energy prices on other G7 economies will be much less marked as household savings are higher than in the USA. More...

Middle East Highlights @ GulfOilandGas

Yanbu' Makes Most of NGL
Yanbu' Gas and Terminal completed the Iso-Pentane Recovery for Gasoline Blending project this month, which will help meet the Kingdom's increasing demand for gasoline. By adding 5,500 barrels per day of iso-pentane to the gasoline pool at Yanbu' Refinery, the project goes a long way toward optimizing the use of oil and gas and increasing the company's revenues by approximately $8.1 million per year. More...

Vintage Petroleum Announces Successful with Fifth Horizontal Well in Yemen
Vintage Petroleum, Inc. announced today that the An Nagyah #17 well in the Republic of Yemen has tested light (43 degree API) oil from the subsalt Upper Lam formation. The well is the fifth horizontal well drilled in the company’s An Nagyah field. The An Nagyah #17 well was drilled horizontally to a total measured depth of 6,779 feet (2,066 meters) and was completed in 1,887 feet (575 meters) of gross oil bearing Lam section. More...

Africa Highlights @ GulfOilandGas

Eni successfully drills new exploration well in Algeria
Eni is achieving through its subsidiary Eni Algeria, continuing success with its explorative campaign in the Algerian South-Eastern Sahara. The company has concluded drilling and tests of the explorative well “ROM 6” with positive results. The well is located in the Berkine basin, 200 km South-East of Hassi Messaoud. More...

Roxar to Supply Subsea Systems to the Akpo Field, Offshore Nigeria
Roxar announced that it is to supply its newly launched AD3000 subsea sand monitors and pig detectors to the deepwater Akpo field, offshore Nigeria. Roxar was awarded the contract by the Cameron division of Cooper Cameron Corporation and comes shortly after the signing of an LOI (Letter of Intent) to supply its Subsea Multiphase Flow Meters to Akpo. In April 2005, Cameron was itself awarded a multi-million US dollar contract to supply the Subsea Production System to the 44-well Akpo development. More...

Events @ GulfOilandGas

'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.

HSE Risk Management Summit
HSE Risk Management Summit will share innovative approaches to HSE Risk, combining international case-studies from major oil and gas companies in the Middle East, Asia Pacific, US and Europe. Key experts will discuss how they’ve effectively dealt with real accidents in their installations and operations.

Shutdowns & Turnarounds Middle East
Join some of the leading shutdown and maintenance professionals to discover how you can advance your plant's core process efficiencies.

World Oil Supply

World Oil Demand

Balance of Supply/Demand

www.gulfoilandgas.com

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