Showing posts with label Aramco. Show all posts
Showing posts with label Aramco. Show all posts
[SAUDI ARABIA] Asian workers rush to get Saudi oil oasis ready
Published | 26-Jun-2008
Deep in the Saudi desert, 28,000 Asian workers are racing to get a giant oil processing complex ready to help King Abdullah keep a vow to meet world demand for crude.
In a year's time, the Al Khurais field will be supplying 1.2 million barrels a day of Arab light crude to thirsty global markets, under a tight schedule set by Saudi Aramco. The king, and other top Saudi officials, promised at an oil summit they hosted in Jeddah on Sunday to increase current production by 200,000 barrels a day to 9.7 million barrels and to supply any further increase in global demand.
In temperatures that seldom fall under 100 degrees Fahrenheit during the day, workers from Indonesia, Bangladesh, India, the Philippines and other nations wear hoods against the sun as they finish the hundreds of kilometres of pipelines, three 600,000 barrel storage tanks, 15,000 horsepower pumps and a bomb proof control centre that make up the $10 billion complex.
Al Khurais is city-sized but can only be reached up a seemingly endless desert road, with truck tyres and carcases of burned out cars strewn along the sides and black camels roaming in the dunes.
The company calls it "the largest industrial project in the world." Together the three fields have estimated reserves of 27bn barrels and their joint daily production of 1.2m barrels will be more than OPEC's three smallest members Indonesia, Qatar and Ecuador, according to Aramco.
World demand is growing by about 1pc a year and Saudi Arabia has vowed to invest tens of billions of dollars to take production capacity to 12.5m barrels by the end of next year and eventually 15m if the demand is there.
Aramco vice-president for production Amin Al Nasser said 500,000 barrels a day will start coming out of its Khursaniyah field in August, and by the end of the year 250,000 barrels will be coming from the Shaybah field and 100,000 barrels a day from the Nuayyim field.
The Saudi firm has embarked on a huge operation to find new fields to add to its estimated 260 billion barrels of crude oil reserves.
Aramco research chief Muhammad Saggaf said that over the next 20 years the company's overall resource base could grow to 900bn barrels from the current level of 735m.
In a year's time, the Al Khurais field will be supplying 1.2 million barrels a day of Arab light crude to thirsty global markets, under a tight schedule set by Saudi Aramco. The king, and other top Saudi officials, promised at an oil summit they hosted in Jeddah on Sunday to increase current production by 200,000 barrels a day to 9.7 million barrels and to supply any further increase in global demand.
In temperatures that seldom fall under 100 degrees Fahrenheit during the day, workers from Indonesia, Bangladesh, India, the Philippines and other nations wear hoods against the sun as they finish the hundreds of kilometres of pipelines, three 600,000 barrel storage tanks, 15,000 horsepower pumps and a bomb proof control centre that make up the $10 billion complex.
Al Khurais is city-sized but can only be reached up a seemingly endless desert road, with truck tyres and carcases of burned out cars strewn along the sides and black camels roaming in the dunes.
The company calls it "the largest industrial project in the world." Together the three fields have estimated reserves of 27bn barrels and their joint daily production of 1.2m barrels will be more than OPEC's three smallest members Indonesia, Qatar and Ecuador, according to Aramco.
World demand is growing by about 1pc a year and Saudi Arabia has vowed to invest tens of billions of dollars to take production capacity to 12.5m barrels by the end of next year and eventually 15m if the demand is there.
Aramco vice-president for production Amin Al Nasser said 500,000 barrels a day will start coming out of its Khursaniyah field in August, and by the end of the year 250,000 barrels will be coming from the Shaybah field and 100,000 barrels a day from the Nuayyim field.
The Saudi firm has embarked on a huge operation to find new fields to add to its estimated 260 billion barrels of crude oil reserves.
Aramco research chief Muhammad Saggaf said that over the next 20 years the company's overall resource base could grow to 900bn barrels from the current level of 735m.
Source: Gulf Daily News
VENEZUELA: PDVSA, al borde de la quiebra
Published | 25-Feb-2008
El pulso mantenido durante estas semanas entre la todopoderosa petrolera ExxonMobil y el mandatario venezolano Hugo Chávez, podría acabar en tragedia económica. La creciente tensión entre Caracas y la compañía ha puesto contra las cuerdas al Gobierno bolivariano que ve cómo su coloso, la estatal PDVSA, se tambalea.Los problemas se acrecentaron tras las bravuconadas del mandatario que en su programa «Aló Presidente», amenazó con interrumpir la venta de crudo a Estados Unidos. ExxonMobil logró este mes que un tribunal congelara unos 12.000 millones de dólares de PDVSA. ExxonMobil reclama una indemnización por la nacionalización de yacimientos petrolíferos de la Faja del Orinoco.
Sin embargo, una eventual decisión del Gobierno de Venezuela de interrumpir la venta de petróleo a Estados Unidos significaría un suicidio económico, político y estratégico para el gobierno «rojillo».
Según Jorge Piñón, consultor internacional y ex presidente en México de Amoco Petróleo América Latina, los problemas residen en la imposibilidad de Venezuela de encontrar mercados que absorban la demanda estadounidense.
«El Gobierno venezolano puede salir a buscar otros mercados para sus exportaciones, posiblemente en China, pero deberá enfrentarse con el problema del flete y de la oposición de Arabia Saudita, que es el principal proveedor en el país comunista», adelantó a LA RAZÓN Piñón.
Las ventas de petróleo venezolano a Estados Unidos asicienden a 1.200.000 barriles diarios, y representan un 11% de las importaciones estadounidenses de crudo, cuyos principales proveedores son Canadá, Arabia Saudita y México, en ese orden, antes que Venezuela.
El mercado estadounidense representa casi el 70% de las exportaciones de Venezuela, y el Gobierno de Chávez recibe de Estados Unidos entre 70 y 80 millones de dólares diarios por la venta de petróleo, pagados como corresponde y sin demoras.
Para Horacio Medina, ex gerente de convenios operativos de PDVSA, que fue despedido de la industria después del paro petrolero de 2003, hay razones de negocio que dificultan la amenaza presidencial.
«No existe ningún mercado donde el crudo venezolano se cotice mejor que en EE UU: por razones de la metalurgia de las refinerías que han sido rediseñadas para recibir nuestro tipo de crudo (pesados y medios), y por la cercanía que tenemos desde el punto de vista geográfico», aseguró Medina.
Crisis y caída de la producción
Por otro lado, la disputa que mantiene el mandatario con ExxonMobil ha agravado la complicada situación financiera por la que atraviesa la estatal que, pese a los altos precios del crudo, resulta cada vez más deficitaria. En 2007, la deuda de la compañía creció de menos de 4.000 millones de dólares a más de 16.000. La incertidumbre que causa el litigio con ExxonMobil implicará una subida del coste de los préstamos.
La petrolera transfirió miles de millones de dólares a fondos controlados por Chávez, subsidió planes de educación y vivienda, y se encargó de distribuir alimentos ante la escasez que viven los venezolanos. Toda la maquinaria «chavista» funciona a través de PDVSA. Mientras tanto, la producción de barriles sigue en baja. Según datos del Banco Central de Venezuela, la producción física de petróleo cayó un 5,3% en 2007, debido principalmente a la falta de liquidez para acometer nuevas inversiones.
Los analistas señalan que la mala gestión de la estatal -cuando Chávez accedió al poder despidió a la mitad de la plantilla-, junto con la corrupción de sus funcionarios, constituyen las causas de su situación.
Elie Habalian, ex director de la OPEP, afirma que PDVSA «se caerá a pedazos en el momento en que los precios del petróleo caigan a niveles reales; y a menos que cambie, lo mismo ocurrirá con el gobierno de Chávez».
«La realidad es que esta aventura presidencial determinará que habrá que indemnizar a la ExxonMobil, en desmedro de PDVSA. Deberá tragarse sus discursos de ni una gota más de petróleo para el imperio. Chávez ha embarcado a todo un país rumbo a una tragedia de proporciones descomunales», afirma Habalian.
Source: La Razon
SAUDI ARABIA: Gas pipeline blast kills 28 in Saudi Arabia
Published | 19-Nov-2007An explosion set a gas pipeline ablaze and killed 28 workers in eastern Saudi Arabia, the Saudi national oil company Aramco said on Sunday. "The fire broke out while contractor workers where linking a new pipe" to the pipeline during maintenance late on Saturday, Aramco said in a statement.
It said 28 workers, including five Aramco employees, had died in the fire, which was put out early on Sunday some 30 kilometres from its Hawiyah gas plant.
The company did not specify how many people had been injured in the blaze, or give the victims' nationalities.
"The company is taking all necessary measures to guarantee the continuation of the normal gas output," it said. Saudi Arabia's national oil company, Saudi Aramco is the world's largest oil producer, located on the country's east coast. The Hawiyah plant produces 310,000 barrels of ethane and NGL daily.
It said 28 workers, including five Aramco employees, had died in the fire, which was put out early on Sunday some 30 kilometres from its Hawiyah gas plant.
The company did not specify how many people had been injured in the blaze, or give the victims' nationalities.
"The company is taking all necessary measures to guarantee the continuation of the normal gas output," it said. Saudi Arabia's national oil company, Saudi Aramco is the world's largest oil producer, located on the country's east coast. The Hawiyah plant produces 310,000 barrels of ethane and NGL daily.
Via: The Pionner
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MIDDLE EAST: Nigeria learning from Saudi Arabia
Published | 15-Sep-2007Nigeria is keen on creating a state-owned petroleum firm modeled after Saudi Arabia`s Aramco, according to the country`s energy minister who acknowledged Nigeria is a long way away from rivaling the Middle East oil giant.
Odein Ajumogobia called Aramco, which exercises full control of Saudi oil reserves, Nigeria`s 'goal of where we would like to be.'
Nigeria`s energy minister, who only assumed his new post six weeks ago, said foreign oil and gas firms operating in the Niger Delta had different objectives for the country than the Nigerian government. He also said there was a 'misalignment between our national aspirations as a country and the commercial objectives' of those foreign firms operating in the delta, home to Nigeria`s vast petroleum reserves.
Ajumogobia`s call for a new way forward for the energy sector followed the recent decision to break down its state-run oil company into five entities in an effort to become more efficient and profitable, while curtailing corruption.
The new entity will replace the Nigerian National Petroleum Co. with the Nigerian Petroleum Co., which analysts say will function more like a state-owned oil firm rather than a government agency.
Nigeria`s current petroleum regulator has suffered from chronic capital shortfalls and been the subject of much scrutiny over its falling output. NNPC was reportedly $1.6 billion short in meeting its 2006 expenses and had to be propped up by other sectors of the Nigerian economy though it accounts for an estimated 85 percent of the government`s revenue.
Nigerian President Umaru Yar`Adua laid out a six-month plan to create NPC and its offshoots for exploration, production and export. He also appointed a national energy council to oversee the project in the coming months.
While some praised his effort, others contend Yar`Adua has reorganized Nigeria`s oil and gas sectors to increase his own influence over the country`s top source of revenue. Foreign oil firms operating in Nigeria are watching the restructuring carefully for signs the Nigerian government could also seek to alter extraction and exploration agreements.
The decision to restructure Nigeria`s oil and gas sectors follows a recent report showing the sector loses $14 billion a year to theft.
Monetary losses incurred by the oil sector were calculated based on the estimated number of barrels of lost production due to corruption and crime, President of the Corporate Council on Africa Stephen Hayes said last month.
'If you are losing 600,000 barrels a day on oil at $70 a barrel, you are losing $12 million a day on oil theft,' he said.
Before stepped-up hostilities by militant and other armed groups in the Niger Delta -- home to the country`s oil and gas wealth -- began in late 2005, Nigeria claimed to be producing about 2.5 million barrels per day. Since then production has reportedly decreased by at least 20 percent, perhaps even by one-third, warn some analysts.
In and around the delta`s de facto capital, Port Harcourt, a spike in violence has raised concerns about the long-term viability of doing business in the region, where foreign oil and gas operations are regularly targeted.
The unidentified body of one foreign worker was discovered in the delta this week, while two of the 11 government officials kidnapped in recent days were released Wednesday.
'The situation in Port Harcourt will remain unstable in the short term until Nigerian authorities can regain some level of control,' read a recent report by Stratfor consulting group.
'Many companies with oil operations in the Niger Delta are based out of or supported by companies in Port Harcourt. These companies and their personnel have not been specifically targeted by the groups involved in the fighting.
'However, in any unstable situation, there is always the chance that they or their personnel will get caught up in the violence.'
Despite production disruptions attributed to 'bunkering,' when oil and gas lines are tapped at times resulting in deadly explosions, illegal sales and violence attributed to armed gangs and militants, some Nigerians say they see a silver lining to the delta`s and Nigeria`s dilemmas.
In August a leading Nigerian rights group praised Yar`Adua for his efforts to tackle corruption and violence.
The Niger Delta has been a flash point for decades amid accusations of government graft and corrupt practices by foreign oil companies.
Via| United Press InternationalOdein Ajumogobia called Aramco, which exercises full control of Saudi oil reserves, Nigeria`s 'goal of where we would like to be.'
Nigeria`s energy minister, who only assumed his new post six weeks ago, said foreign oil and gas firms operating in the Niger Delta had different objectives for the country than the Nigerian government. He also said there was a 'misalignment between our national aspirations as a country and the commercial objectives' of those foreign firms operating in the delta, home to Nigeria`s vast petroleum reserves.
Ajumogobia`s call for a new way forward for the energy sector followed the recent decision to break down its state-run oil company into five entities in an effort to become more efficient and profitable, while curtailing corruption.
The new entity will replace the Nigerian National Petroleum Co. with the Nigerian Petroleum Co., which analysts say will function more like a state-owned oil firm rather than a government agency.
Nigeria`s current petroleum regulator has suffered from chronic capital shortfalls and been the subject of much scrutiny over its falling output. NNPC was reportedly $1.6 billion short in meeting its 2006 expenses and had to be propped up by other sectors of the Nigerian economy though it accounts for an estimated 85 percent of the government`s revenue.
Nigerian President Umaru Yar`Adua laid out a six-month plan to create NPC and its offshoots for exploration, production and export. He also appointed a national energy council to oversee the project in the coming months.
While some praised his effort, others contend Yar`Adua has reorganized Nigeria`s oil and gas sectors to increase his own influence over the country`s top source of revenue. Foreign oil firms operating in Nigeria are watching the restructuring carefully for signs the Nigerian government could also seek to alter extraction and exploration agreements.
The decision to restructure Nigeria`s oil and gas sectors follows a recent report showing the sector loses $14 billion a year to theft.
Monetary losses incurred by the oil sector were calculated based on the estimated number of barrels of lost production due to corruption and crime, President of the Corporate Council on Africa Stephen Hayes said last month.
'If you are losing 600,000 barrels a day on oil at $70 a barrel, you are losing $12 million a day on oil theft,' he said.
Before stepped-up hostilities by militant and other armed groups in the Niger Delta -- home to the country`s oil and gas wealth -- began in late 2005, Nigeria claimed to be producing about 2.5 million barrels per day. Since then production has reportedly decreased by at least 20 percent, perhaps even by one-third, warn some analysts.
In and around the delta`s de facto capital, Port Harcourt, a spike in violence has raised concerns about the long-term viability of doing business in the region, where foreign oil and gas operations are regularly targeted.
The unidentified body of one foreign worker was discovered in the delta this week, while two of the 11 government officials kidnapped in recent days were released Wednesday.
'The situation in Port Harcourt will remain unstable in the short term until Nigerian authorities can regain some level of control,' read a recent report by Stratfor consulting group.
'Many companies with oil operations in the Niger Delta are based out of or supported by companies in Port Harcourt. These companies and their personnel have not been specifically targeted by the groups involved in the fighting.
'However, in any unstable situation, there is always the chance that they or their personnel will get caught up in the violence.'
Despite production disruptions attributed to 'bunkering,' when oil and gas lines are tapped at times resulting in deadly explosions, illegal sales and violence attributed to armed gangs and militants, some Nigerians say they see a silver lining to the delta`s and Nigeria`s dilemmas.
In August a leading Nigerian rights group praised Yar`Adua for his efforts to tackle corruption and violence.
The Niger Delta has been a flash point for decades amid accusations of government graft and corrupt practices by foreign oil companies.
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