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NewBase 09 March 2015 - Issue No. 556 Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE
Solar Impuls 2 has taken off for first round-the-world solar flight
The first attempt to fly around the world in a plane using solar energy has been launched this morning from Abu Dhabi at 6:30 AM . Masdar ( UAE leading renewable energy hub & Institute ) has been selected for the project by its pilots, who said, this is a landmark journey aimed at promoting green energy.
The takeoff of Solar Impulse 2, which was delayed on Saturday due to high winds, would cap 13 years of research and testing by Swiss pilots Andre Borhe schberg and Bertrand Piccard.
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"This project is a human project, it is a human challenge," Borschberg, co-founder and chief executive of Solar Impulse who will fly the plane on the first leg, told reporters on Sunday. The wingspan of the one-seater plane, known as the Si2, is slightly bigger than that of a jumbo jet, but its weight is around that of a family car. It will take off from Abu Dhabi on Monday at 6:30 a.m. (0230 GMT), landing first in Muscat, Oman.
From there, it will make 12 stops on an epic journey sp read over five months, with a total flight time of around 25 days. It will cross the Arabian Sea to India before heading on to Myanmar, China, Hawaii and New York. Landings are also earmarked for the Midwestern United States and either southern Europe or North Africa, depending on weather conditions. The longest single leg will see a lone pilot fly non-stop for five days across the Pacific Ocean between Nanjing, China and Hawaii, a distance of 8,500 kms (5,270 miles). Borschberg and Piccard will alternate turns at the controls because the plane can hold only one person. All this will happen without burning a drop of fuel. "We want to share our vision of a clean future," said Piccard, chairman of Solar Impulse. "Climate change is a fantastic opportunity to bring in the market new green technologies that save energy, save natural resources of our planet, make profit, create jobs, and sustain growth." The pilots' idea was ridiculed by the aviation industry when it was first unveiled. But Piccard, who hails from a family of scientist-adventurers and was the first person, in 1999, to circumnavigate the globe in a hot air balloon, clung to his belief that clean technology and renewable energy "can achieve the impossible". The plane is powered by more than 17,000 solar cells built into wings that, at 72 meters (236 feet), are longer than a jumbo and approaching that of an Airbus A380 superjumbo. Thanks to an innovative design, the lightweight carbon fiber aircraft weighs only 2.3 tons, about the same as a family 4X4 and less than one percent of the weight of the A380. The Si2 is the first solar-powered aircraft able to stay aloft for several days and nights. The
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propellor craft has four 17.5 horsepower electric motors with rechargeable lithium batteries. It will travel at 50-100 kms per hour, with the slower speeds at night to prevent the batteries from draining too quickly. The Si2 is the successor to Solar Impulse, a smaller craft that notched up a 26-hour flight in 2010, proving its ability to store enough power in the batteries during the day to keep flying at night It made its last successful test flight in the United Arab Emirates on March 2, and mission chiefs reported no problems. It is scheduled to arrive back in Abu Dhabi in July,
For him, "the project should not finish in July, it should start in July." A petition was launched on futureisclean.org to campaign in favor of clean energy. The pilots will be linked to a control center in Monaco where 65 weathermen, air traffic controllers and engineers will be stationed. A team of 65 support staff will travel with the two pilots. Its progress can be monitored via live
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ME oil and gas transaction activity subdued in 2014 \by Oman Observer + NewBase
While the Middle East has substantial oil and gas reserves and production, in the context of the global transactions market both current and historic levels of activity are relatively low, according to EY’s Global Oil and Gas Transactions Review 2014. In the Middle East, transaction activity in 2014 was quiet and only upstream witnessed any deal activity. David Baker, MENA Oil and Gas Transactions Leader, EY, says: “Prior to the drop in oil price in the second half of 2014, oil price had been unusually stable over past the 3 years, largely trading
around $100-120/bbl despite some major geopolitical events. When oil price did dip, the speed and extent of the price correction took many by surprise. The industry has responded by making a number of recent announcements regarding projects and capital expenditure cuts. Globally we are expecting a strengthening oil and gas M&A market in 2015 as companies reallocate capital to optimise their portfolios, remove underperforming and lower yield businesses, and pursue opportunistic acquisitions.” In terms of timing, the drop in oil price is expected to affect the industry in the following order; oil field services, exploration and production (E&P) then
midstream/downstream. Oil field services, beginning with entities aligned to discretionary CAPEX (Seismic/Exploration), are likely to be affected first, followed by onshore drilling and then development. E&P will also clearly be impacted, beginning with the highly leveraged E&P entities and those with disproportionate exposure to high marginal cost production. On the other hand, the price drop may be beneficial to midstream/downstream businesses. However, the businesses embedded in integrated oil companies may come under further pressure to de-capitalise their value chains. From an upstream perspective, while the number of transactions decreased from 32 to 12 from 2013 to 2014, the total value was only marginally down at almost $600 million. In terms of the upstream sector, Middle East transaction value relative to the total global upstream transaction value represented less than 0.3 per cent in 2014, which is the lowest share over the past five years. The deal activity was geographically spread over the Middle East region with countries such as the UAE and Iraq being the locations of multiple transactions. As is consistent with the past three years, no midstream transactions were completed in 2014. This is a result of the very high level of state ownership of these strategically important assets and therefore little, if any, availability in the market. Finally in the downstream sector, again, there were no transactions in the Middle East which is against a backdrop of only very limited transaction activity in 2012 and 2013.
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Norway: Lundin Petroleum spuds exploration well on the
Morkel Prospect in the Northern North Sea. Source: Lundin Petroleum
Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, announced March 4 that drilling of exploration well 33/2-2S in PL579 has commenced. The well will investigate the hydrocarbon potential of the Morkel Prospect in PL579, which is located 180 km west of Florø on the Norwegian west coast and approx. 40 km northwest of the Snorre field.
The main objective of well 33/2-2S is to test the hydrocarbon potential and reservoir properties of the Jurassic section. Lundin Petroleum estimates the Morkel Prospect to have the potential to contain unrisked, gross prospective resources of 74 million barrels of oil equivalent (MMboe). The planned total depth is 3,500 metres below mean sea level and the well will be drilled using the semi- submersible drilling unit Bredford Dolphin. Drilling is expected to take approx. 60 days. Lundin Norway is the operator and has a 50 percent working interest in PL579. The partners are Bayerngas Norge and Fortis Petroleum Norway with 30 percent and 20 percent working interest, respectively.
According to information on the Lundin web site: The Morkel Prospect is located on a down-faulted terrace of the Makrell/Penguin Horst. The reservoir units are Upper Jurassic Munin Mb of the Draupne Fm and Magnus Fm analogues, as well as the Middle Jurassic Brent Gp. The expected hydrocarbon type is oil. Change of Success is estimated at 21%.
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Uganda: Tullow, Partners May Invest $14 Billion in Oil Fields Bloomberg + NewBase
Tullow Oil Plc and its partners expect to invest as much as $14 billion developing oil fields in Uganda, General Manager Jimmy Mugerwa said.
Tullow, an exploration company based in London, is working with Total SA of France and China’s Cnooc Ltd. to develop fields that the government estimates contain 6.5 billion barrels of oil resources. Crude production may begin as early as 2017 and is expected to reach 200,000 barrels per day by about 2020, according to the World Bank.
“With the partner companies, we are looking at $8 to $10 billion for the upstream and $3 to $4 billion when we start the pipeline construction,” Mugerwa said in an interview Thursday in Kigali, the capital of neighboring Rwanda.
Uganda, where oil was discovered in 2006, announced last week it will sell its first round of exploration licenses later this year after lifting a permitting moratorium that has been in place since 2007. Cnooc was the first company to be issued with a license, while applications for other companies are still pending. Tullow expects to make a final investment decision for work in Uganda by the end of 2015 or early 2016, Chief Executive Officer Aidan Heavey said in November.
Six oil blocks are on offer in the so-called Albertine Graben, on Uganda’s border with the Democratic Republic of Congo. More than 400 companies, both domestic and foreign, have expressed an interest in the acreage during preliminary stages, Energy Minister Irene Muloni told reporters on Feb. 24. Tullow, which has drilled 79 wells in Uganda, is evaluating the licensing round, Mugerwa said. “The bids are still open, but right now, nothing is concrete,” he said.
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Philippines: Supply shortages lead to rolling power outages Source: eia + Platts World Electric Power Plant Database
As the 12th-largest nation in the world, the Philippines has a population of more than 100 million people spread over 7,000 islands, presenting several electricity infrastructure challenges. Currently, the country is facing growing concerns over resource adequacy in its power sector, as the nation is challenged to add supply quickly enough to keep up with growing demand. In late 2014, Philippine president Benigno Aquino requested emergency powers from the Philippine Congress to enable the government to lease 600 megawatts (MW) of additional capacity and to take other measures to prevent power outages in Luzon, the largest island region in the southeast Asian nation.
Emergency capacity additions would be mostly met by diesel generators. Other emergency measures include paying large customers to reduce grid demand by running their own generators, under the government's interruptible load program. Supply concerns in Mindanao, the nation's second-largest island region, have already led to recurring announcements of rolling power outages. An announced outage in February 2015 was partly caused by acoal-fired power plant undergoing preventive maintenance. The nation's power sector has been through years of transformation. The National Power Corporation (NPC) once had a monopoly on generation and transmission. Following political regime change in 1986, the Philippine economy experienced a series of reforms, including electric power sector restructuring. Executive Order No. 215(1987) led to the creation of an independent power producer sector to spur private ownership of generation. Additional emphasis on privatization and restructuring followed, culminating in the Electric Power Industry Reform Act of 2001 (EPIRA), which required functional unbundling of NPC's generation and transmission activities. The EPIRA also established a wholesale electricity spot market to enable wholesale competition through merit-order dispatch of generators and market-based
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pricing. On the retail side, distribution to customers traditionally was mainly through investor-owned utilities, such as the Manila Electric Company (MERALCO). In 2013, the implementation of retail competition and open access (RCOA) allowed qualified customers to choose alternate electricity suppliers. Despite these restructuring efforts, the Philippines continues to face power supply challenges, and Filipinos pay some of the highest electricity prices in southeast Asia—issues that have been cited as risks to foreign investment.
In addition to the government's short-term emergency actions, the Philippines will continue to expand its electricity generation capacity to improve system reliability and keep up with economic and population growth. The most recent data available from the International Energy Agency estimate that 70% of the population has access to electricity. The three main island regions of Luzon, Visayas, and Mindanao each have distinct generation profiles. In the northern part of the country, Luzon's
capacity is mainly powered by fossil fuels, with anticipated capacity additions of more than 500 MW, most of which will be coal-fired. Visayas, in central Philippines, currently relies heavily on its geothermal resources, but has plans to add 300 MW of coal capacity by 2017. In the south, Mindanao relies heavily on its hydropower resources, with plans for both additional hydropower capacity and additional coal-fired generation to increase system reliability.
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Turkey: Russia’s bid for Turkish Stream Gas Pipeline Robin Mills + NewBase , Energy exports are a useful weapon, but one that can only be wielded only once. If Russia persists with its latest move in the long drawn-out battle over Europe’s gas supply, it will open the gates to the competition it has feared for the past decade and more.
Europe gets 30 per cent of its gas from Russia – still mostly transported through Ukraine, despite the opening of a new pipeline under the Baltic directly to Germany. Previous cut-offs of gas through Ukraine, most seriously in 2009, and the continuing conflict there, have made Russia look for alternative routes.
But in December, it gave up on plans for South Stream – a line under the Black Sea to Bulgaria, after legal objections from the EU. The Europeans were in no mood to make life easy for Russia’s monopoly Gazprom while imposing sanctions on the country over its support for forces fighting Kiev in eastern Ukraine.
Instead, Gazprom announced plans for an alternative route – Turkish Stream – under the Black Sea to Turkey. From there, if Russian gas is to find its way to the main markets in central Europe, then pipelines through the Balkans must appear from nowhere by 2019. The Gazprom chief executive Alexei Miller said: “Now it is up to [our European partners] to put in place the necessary infrastructure starting from the Turkish-Greek border.”
The EU has sought increasingly since 2009 to diversify its supplies, but has faced obstacles. Environmental groups – funded by Russia, according to the Nato secretary general Anders Fogh Rasmussen – have campaigned against shale gas, leading to moratoria in Romania (now lifted), and in Bulgaria, which gets 87 per cent of its gas from Russia.
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Meanwhile, Russia has been happy for the nuclear negotiations and sanctions on Iran to be endlessly drawn out, preventing the country, according to BP the state with the world’s largest gas reserves, from competing with it.
The Nabucco pipeline was meant to bring gas from the Middle East and Central Asia to Europe, the so-called Fourth Corridor (the first three are the routes from Norway, North Africa and Russia). But Nabucco lacked enough heavyweight backing from gas companies and EU institutions, and never managed to secure enough gas supply.
Of its target countries, Iran was hit by sanctions and anyway struggled to produce enough gas to meet domestic demand, while Iraq and its Kurdish region are still at an early stage of developing gas for domestic use. Enigmatic Turkmenistan would have to build a pipeline across the disputed Caspian Sea, through the territory of its competitor Azerbaijan, in the face of Russian disapproval.
But Turkish Stream opens the way to a revival of the Fourth Corridor. If the EU is compelled to build expensive new gas pipelines from Turkey through south-east Europe, it can carry gas from anyone. The bloc’s proposed Energy Union would create a more coherent energy policy, not hostage to the vagaries of individual members. The small Balkan markets, currently dependent almost entirely on Russian supplies, would be integrated into a pan-European network.
Turkey does not want to be over dependent on Russian gas either – it has devoted much effort to diversifying its imports, with Azerbaijan and the Kurdish region of Iraq the best bets. In the longer term, a post-sanctions Iran could become the Fourth Corridor’s largest supplier and a real competitor to Russia in Europe.
Europe can find alternative suppliers. It is, in large part, the inertia of expensive infrastructure that has slowed its quest so far. In contrast, Russia has no other customers that can replace Europe for reliability and value. China is an important long-term market, but far away, expensive to reach and already playing off Russian against Central Asian gas. If Turkish Stream unlocks the iron gates of the Fourth Corridor, Russia will find it has itself brought about what it most feared.
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US: petroleum product exports increase for 13th consecutive year, setting record Source: U.S. Energy Information Administration
U.S. exports of noncrude petroleum products from the United States averaged a record 3.8 million barrels per day (bbl/d) in 2014, an increase of 347,000 bbl/d from 2013, based on data from EIA's Petroleum Supply Monthly. In particular, exports of motor gasoline, propane, and butane increased, offsetting a decrease in distillate exports.
As detailed in This Week in Petroleum, the combination of record-high U.S. refinery runs (which averaged 16.1 million bbl/d in 2014) and increased global demand for petroleum products allowed U.S. petroleum product exports to increase for the 13th consecutive year. These exports are mostly sent to nearby markets in Central America and South America, followed by exports to other countries in North America (Canada and Mexico). U.S. petroleum product exports increased in every region except the Middle East, which declined from 55,000 bbl/d in 2013 to 47,000 bbl/d in 2014. However, in 2014, there was more change—both in quantity exported and destination—for specific products: motor gasoline, propane, butane, and distillate. December 2014 exports of motor gasoline, which include finished gasoline and gasoline blending components, set a monthly record of 875,000 bbl/d. For the past several years, monthly exports of gasoline have been highest in November and December, as low seasonal U.S. gasoline demand in December creates a larger surplus of gasoline, particularly on the U.S. Gulf Coast (as defined by Petroleum Administration for Defense District 3), resulting in increased exports to relatively farther destinations in Africa and Asia. Still, most U.S. motor gasoline exports are sent to Canada and Mexico.
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Increased U.S. production and capacity to export hydrocarbon gas liquids (HGL), particularly on the U.S. Gulf Coast, allowed exports of propane and butane in 2014 to increase by 121,000 bbl/d (40%) and 44,000 bbl/d (149%), respectively, over 2013 levels. Exports of propane to Asia, particularly Japan and China, where the fuel is used in cooking, heating, transportation, and as a petrochemical feedstock, nearly doubled in 2014 from 2013, increasing by 40,000 bbl/d (95%). Exports of butane, which shares some uses with propane but is more suitable for use in warmer climates, grew to 74,000 bbl/d. In 2014, the United States exported 20,000 bbl/d of butane to Africa, an increase of 17,200 bbl/d (628%) from a year earlier, making Africa now the largest recipient for U.S. exports of butane. U.S. distillate exports declined for the first time since 2004. Almost all of this decrease is attributable to declines in exports to Western Europe and Africa, where distillate exports fell by 61,000 bbl/d (15%) and 8,700 bbl/d (35%), respectively, in 2014. In the second half of the year, increased European refinery runs, exports from recently upgraded Russian refineries, and new refinery capacity in the Middle East increased supply to European distillate markets, reducing the need for distillate from the United States.
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Oil Price Drop Special Coverage
Kuwaiti oil minister warns crude price is tied to global economic recovery with Reuters, AFP + NEwBase
A drop in shale oil production has triggered a bounce in global oil prices, but they will not rise sharply as long as the world’s economy stays sluggish, said the Kuwaiti oil minister Ali Al Omair.
Many factors are affecting oil prices, including violence in Iraq and Libya, state news agency Kuna quoted the minister as saying late on Saturday during a visit to Bahrain for an energy industry conference. Reduction of output will not have a major impact without a global economic recovery that would spur demand, he said.
He said projections showed prices might improve this year, but added that they might also stay between US$50 and $60 per barrel. “Forecasts for the oil price this year indicate that it will gain or at least stabilise between $50 and $60 a barrel,” Kuna quoted him as saying.
The minister said prices are currently supported by conflict in Iraq and Libya and by a drop in sand oil and shale oil output. But that is counterbalanced by slow global economic growth, which is dampening demand, Mr Al Omair said.
World prices dropped at the close on Friday as the dollar rose sharply, making dollar-priced crude more expensive for buyers using weaker foreign currencies. West Texas Intermediate for delivery in April slid $1.15 to $49.61 on the New York Mercantile Exchange, ending near its week-ago level.
Brent North Sea crude for April, the international benchmark, dropped 75 cents to $59.73 a barrel in London. Brent is up from lows near $45 hit in mid-January. Asked about Opec’s decision in November to maintain output instead of cutting it in an effort to support prices, Mr Al Omair said it “was not a hostile resolution but balanced”.
The issue of oil’s drop is the collective responsibility of all oil-producing countries, both Opec and non-Opec, he said. Last week, Saudi Arabia’s oil minister Ali Al Naimi said he expected oil prices to stabilise as supply and demand balanced, and urged non-Opec producers to help balance the market.
Opec shouldn't cut output to ‘subsidise’ shale: Badri Reuters + NewBase The Organisation of the Petroleum Exporting Countries Secretary-General said on Sunday that
the group's exporters should not cut output to "subsidise" higher-cost shale, an energy source whose recent growth is blamed by Opec for weakening oil markets. Abdullah al-Badri added in remarks to a conference in Bahrain that tight oil, a term he has used for shale, was "not a challenge for us" but the market should now be left to decide which source of petroleum could survive at current prices.
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Oil prices have sunk to near six year lows in recent months as a result of a large supply glut, due mostly to a sharp rise in US shale production as well as weaker global demand. The rapid decline has left several smaller oil producing countries reeling and has forced oil companies to slash budgets. "We welcome tight oil... but this source of energy costs too much to produce. You cannot produce it at $70-$80 or $90, you need $100 plus to produce, sell it and make income out of it," Badri said. "Opec cannot subsidise another source of energy -- if we reduce (production) in November we will reduce in January. We will reduce in December. We will reduce maybe for another four to five years," he said. "We cannot every time keep reducing our production, it (tight oil) is not a challenge for us ... we welcome it, but let the market decide now." Badri also said that Opec and non-Opec producers should work together to stabilise markets, suggesting oversupply could amount to two million barrels per day (bpd). Since 2008, supplies from non-Opec producers had risen by almost six million bpd, he said. In contrast, Opec production had been fairly steady at about 30 million bpd. Badri said the market's "true picture" would not be apparent until the end of June, adding he had no doubt markets would return to balance in the second half of 2015. The market was improving now, he said, and "tremendous opportunity" in oil remained despite recent market volatility and uncertainties. Energy demand would increase by 60 per cent by 2040 and oil would remain a central energy source, he said.
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Khaled Malallah Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Emarat member since 1990 ASME member since 1995 Hawk Energy member 2010
Khaled Al Awadi is a UAE National with a total of 25 years of experience in the Oil & Gas sector. Currently working as Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , he has developed great
experiences in the designing & constructing of gas pipelines, gas metering & regulating stations and in the engineering of supply routes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE and Energy program broadcasted internationally , via GCC leading satellite Channels.
NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE
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