Arab oil & gas news digest
Round-up of the best oil & gas stories from the Arabic language papers
QAPCO starts commissioning the Qatofine project
Qatar Petrochemical Company (Qapco) has started the commissioning of its Qatofine project last week and is expected to start up the commercial production by the end of October beginning of November.
The Qatofine project will have a capacity of 450,000 metric tonnes per annum (mtpa) of linear low density polyethylene (LLDPE), and will be using ethylene feedstock from Ras Laffan refinery.
The project is a joint venture between Qapco (63%), France’s Total (36%), while Qatar Petroleum controls (1%).
Qapco currently produces 800,000 mtpa of ethylene and 400,000 mtpa of low density polyethylene (LDPE).
Meanwhile, Qatar Islamic Bank (QIB) has extended $200 million of financing to Qatar Petrochemical Company (Qapco) for the new 300,000 mtpa low density polyethylene (LDPE) project, whose total cost is estimated at $550 million.
Chinese dumping investigations to take up to one year
A Chinese commercial delegation at the World Trade Organisation has confirmed that the methanol dumping investigation will be completed by either 23rd June or 24th December 2010.
The delegation said that the investigation generally takes one year, but in some complicated issues, it would take 18 months.
Saudi Arabia is the biggest methanol exporter to China.
Saudi-Indian talks over methanol at a standstill
Saudi-Indian talks about the anti dumping duties on the Saudi polypropylene products exported to India by SABIC and Advanced Polypropylene Company have standstill.
The talks held in India were led between Saudi Trade and industries minister Abdullah Zainel, and the Indian foreign affairs, finance and commerce minister.
Iran and Oman set a fertiliser JV
Iran and Oman are expected to set up a new petrochemical joint venture to produce urea and ammonia, and have signed a memorandum of understanding (MoU) between Oman’s energy minister and Iranian counterpart.
The Hurmoz Petrochemical plant will have a capacity of 1m tonne per year of ammonia and 650000 tonne per years of urea.
KPC to award nine contracts next month
(Al- rai Al Aam)
Kuwait Petroleum Company (KPC) is expected to choose nine contractors and will be announcing the winners in the next month.
The first contract will includes the restoration of production facilities, the second one to set up the horizontal pipeline in a well for south Kuwait field, while the third one for the maintenance of oil tanks.
The remaining contracts include restoration and maintenance of several oil fields offset facilities.
Saudi Arabia tops Butane exporter
(Saudi News Agency)
A recent report issued by Al Sharqia (Eastern) Chamber's Information center disclosed that Saudi Arabia topped the list of Butane exporters with a total value of exports of this type of gas amounting to nearly $2.5 billion during the year 2007.
The report pointed out that the volume of Butane exported from the Kingdom during the same year accounted for approximately 3,990 tons, representing about 15.7% of the total quantity of butane exported around the world, which is estimated to be 25,369 tons in the same year.
The report also recorded an increase of 16.3% in the value of Butane exports by the Kingdom compared with the figure of 2006.