Gulf Oil and Gas Newsletter May 2008 Vol 6 Issue 19

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Gulf Oil and Gas Newsletter May 2008 Vol 6 Issue 19

5/10/2008 11:38:06 AM

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Gulf Oil and Gas Newsletter May 2008 Vol 6 Issue 19

Newsletter Volume 06 Issue 19

Asia & Middle East Highlights

J. Ray McDermott Awarded Two Offshore Construction Projects
McDermott International announced that subsidiaries of J. Ray McDermott, S.A. ("J. Ray") were recently awarded two contracts for offshore construction projects. Both of the contracts will be included in McDermott's second quarter 2008 backlog, and have a combined value in excess of $500 million. More...

Construction of the Aromatics Project at Urumqi Petrochemical Company begins
Urumqi Petrochemical Company starts the construction of a paraxylene aromatic hydrocarbon complex plant. Aromatic hydrocarbon is a main raw material for general engineering plastics. More...

Foster Wheeler to Design and Supply Two Waste Heat Recovery Units for PTT's Gas Plant in Thailand
Foster Wheeler awarded an engineering and materials supply contract by Samsung Engineering Co. for two gas turbine exhaust waste heat recovery units for PTT Public Co. (PTT) ethane separation plant at Map Ta Phut Industrial Complex in Thailand. More...

The Linde Group and ADNOC to build two large-scale air separation units in Abu Dhabi
The Linde Group and The Abu Dhabi National Oil Company (ADNOC) have decided to construct two large air separation units (ASU) through their joint venture Elixier in Abu Dhabi (United Arab Emirates). Total investment costs amount to approximately USD 800 million. More...

Africa Highlights @ GulfOilandGas

StatoilHydro Announces Oil discovery off the coast of Angola
The block 15/06 partnership announced the first oil discovery in this deepwater block off the coast of Angola. StatoilHydro has a 5% share in the block. The discovery well, Sangos-1, which was drilled in 1,349 metres of water to a total vertical depth of 3,343 metres, encountered an oil column of 127 metres in high permeability Miocene sands. More...

Chevron Confirms Startup of Moho-Bilondo Offshore Republic of the Congo
Chevron Corporation confirmed first production from the deepwater offshore Moho-Bilondo project in the Republic of the Congo. The project, in which Chevron has a 31.5 percent interest, was completed ahead of schedule. More...

Events @ GulfOilandGas

MOC 2008
MOC 2008 Mediterranean Offshore Conference & Exhibition will be held on May 20-22, 2008 in Alexandria, Egypt with the High Patronage of the Minister of Petroleum of Egypt. MOC 2008 is not only the main Egyptian meeting for the oil & gas industry, it is a worldwide recognised international business forum for all the industry professionals and technicians.

ADIPEC 2008
ADIPEC is the largest oil and gas show in the world, attracting more IOC's, NOC's and Operating Companies than any other exhibition. Expected to be a four day mega event - a veritable showcase of the latest in technologies, products, services and trends across the industry - the exhibition has companies from 35 countries including 18 pavilions.

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Oil Market @ GulfOilandGas

Product Markets and Refinery Operations - Apr 08
Product stock-draws over the last few weeks along with refinery snags in the West and discretionary throughput cuts by refiners supported product markets and lifted product prices. However, crude oil prices outstripped product prices, undermining refinery margins in the Atlantic Basin. More...

World Oil Supply
World Oil Demand
Balance of Supply/Demand

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