Petronas Looking for Concession Extension in Mozambique

A Malaysian state oil company, PETROLIAM Nasional Bhd or widely known as Petronas has asked for an extension to its exploration licence in the Zambezi River delta in Mozambique in a request to the National Petroleum Institute.

The claim for the extension is to allow Petronas to do further investigations after an initial study of exploration activities. It was rumoured that evidents of extraction opportunities have been found in the area.

Shanghai, China is Booming with LNG Demand

China, one of the world's biggest demand for energy, is going to be the next LNG vacuum with demand increase up to 3 billion cubic metres last year. China National Offshore Oil Corporation (CNOOC); is due to commission a terminal to receive liquefied natural gas in Shanghai in early February 2009 from Malaysia LNG Tiga. This first ever cargo is said to be about 20,000 cubic metres of gas before commercial operation in April.

CNOOC's Shanghai terminal will receive 1.1 million tonnes per annum from Petronas LNG complex in Malaysia with incremental volume up to 3 million tpa in 2012. Shanghai is now looking at ways to increase its emergency gas reserves as demand is shooting up.

Petchem Conference: APTC & Asia BBTC Conferences, Seoul

7th Asia Petrochemicals Technology Conference - APTC 12 & 13 May

3rd Asia Bottom of the Barrel Technology Conference - Asia BBTC 14 & 15 May
The Ramada Hotel, Seoul

Special Rates for Refiners & Petrochemical Producers!
View programmes and register via links above

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EPC is proud to announce that the APTC & Asia BBTC will take place in the exciting city of Seoul in May this year.

APTC: The Leading Event for the Asian Petrochemical Community

APTC will once again be the essential event to be updated on the current performance and future prospects for the region, including implications for supply and demand, industry profitability and the very latest technology developments.

Special Presentations by Petronas, PTT Phenol, Petrovietnam and many more..

ASIA BBTC: The Leading Forum for Residue Upgrading in Asia

Now in its 3rd impressive year, Asia BBTC remains the only event capable of bringing you up to date with the latest economic and technology developments for upgrading crude oil residues including the modernisation of existing facilities, new equipment and catalyst technologies.

Special Presentations by SK Energy, SRC , PDVSA and many more..

AXENS HEAVY ENDS SEMINAR ON 13 MAY – click here for details

We look forward to welcoming you to Seoul!  Please contact us with any queries.

Despite Economic Turmoil, Shell is Expanding in Asia

Recently Shell Malaysia has announced that it will be expanding its retail business to include additional 40 petrol pump stations in the year of 2009 despite the recent global turmoil. Some anylysts are confident that this is showing the good fundamentals for Malaysian economy. 

Asia has been hit by the economic slowdown with major share market in the region has been nosediving. However, most are confident that the turmoil are largely affecting the western economy and countries with good fundamentals will see a shake to its economy but nothing major that will cut demand growth significantly.

US Marathon Oil to Sell its Irish Asset to PETRONAS

The US' Marathon Oil has agreed to sell most of its Irish assets to PETRONAS for $180 million.also include a 100% interest in the company's gas storage business with current capacity of 7 billion cubic feet.  

This acquisition includes a 86% stake in the producing Seven Heads gas fieldand a 100% operated interest in the Kinsale Head Area comprising Kinsale Head, South West Kinsale and the Ballycotton gas fields, as well as an 86% interest in the gas producing Seven Heads field which is tied back to Kinsale. All the gas fields at Kinsale area are estimated for current net production of 36 million cf/day. 

Petronas subsidiary Star Energy was appointed for Petronas behalf responsible for the acquisition. 

New Gas Fields Found in Mozambique

Two new natural gas fields were found in the southern Inhambane province of Mozambique. The gas field discovery is foreseen for domestic demand for natural gas as suggested by Mineral Resources Minister Esperanca Bias of Mozambique including for electricity generartion, fertiliser factory and fuel for vehicles.

Under Mozambican law, any consortium that has discovered gas reserves has six months to assess its findings and present a report to the government. In this case, the player will be South Africa's Sasol , Malaysia's Petronas and the Mozambican government. Sasol, the world's biggest maker of diesel from coal, owns 50 percent of the project, Petronas owns 35 percent, while the government of Mozambique holds 15 percent through national oil company Empresa Nacional De Hidrocarbonetos De Mozambique (ENH). 

Dow & PIC Setting up a JV Petchem

Dow Chemical and Kuwait’s Petrochemical Industries Co (PIC) have been reportedly signing a mutual agreement for a $17.4 billion K-Dow petrochemicals joint venture. It is estimated that K-Dow would generate $11 to $15 billion annual sales with the new JV which includes Dow's existing joint-ventures MEGlobal and Equipolymers. 

The 50:50 JV company will use Dow's strength from its olefins and polyolefins capacity turning it to be a major producer of petrochemicals and plastics including polyethylene, ethylene amines, ethanolamines, polypropylene and polycarbonate. K-Dow is also seen to be one of the important polypropylene technology and market related catalysts licensor.