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    Full endorsement on this opportunity - but it's limited, so get in while you can!

RV on the way, why just take a seat and read

BradyBear
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BradyBear Newbie

BradyBear

Posted
Posted

Greetings,

 

Here is a Smile for your day:

Reuters reports that China's state-owned Sinochem Corp plans to use Iraqi crude oil for 40 percent of the capacity of its new refinery, in what the article describes as "the latest example of Iraq beating Middle Eastern rivals in the competition for new markets in Asia".

 

The deal wold replacing a preliminary agreement to use more expensive oil from Kuwait, and make Sinochem one of Baghdad's top oil buyers next year, when the company starts its first wholly-owned refinery.

 

I keep reading in my Iraq Business Week points that shine on  mid 2014 or before for long awaited moment for RV!!!

 

Sincerely,

BradyBear

 

 

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yota691 Grand Master

yota691

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Posted

Not only China..

Compared with 3.2 billion dirhams at the end of the first half of 2013 AED 6 billion spending 'energy' investment in 9 months

Source: 

  • Abu Dhabi - Nasser Arif
Date: 09 November 2013
 
 
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Increased the value of the amounts spent by the Abu Dhabi Company for Energy "Energy" on its investment during the first nine months of this year to about 6 billion dirhams, a growth of 87.5% compared with the end of the first half of the year in which it reached the value of spending to 3.2 billion dirhams.

The company has announced the allocation of an investment program for the period of 2010 -2014 which allocates 36.8 billion dirhams (AED 7.4 billion) every year to spend on projects of the company in many countries of the world.

And distributed amounts that have been spent by the end of last September of 4.6 billion dirhams on oil and gas projects and about 1.4 billion dirhams on energy and water projects.

Projects last quarter

It is expected that the company is spending about 1.4 billion dirhams during the fourth quarter of this year on the projects acquired during the last year, particularly in North America and Kurdistan Iraq, as well as maintenance expenses for owned projects in other regions around the world.

As for the first half of this year, Energy has spent about 3.2 billion dirhams ($ 884 million) on its investment projects in various countries of the world which is equivalent to 38.5% of the total allocated to the investment program in 2013.

The company has announced that it has spent 1.74 billion dirhams during the first quarter on its investment projects and that he will be spending the rest of the amount allocated for investment spending before the end of the month of December of this year at the latest.

Maximize productivity and returns

An official source in the energy company: The company's investment program includes the development of the assets owned in many countries of the world, in order to maximize productivity and revenue during the coming period.

He stressed that the company's production of oil equivalent amounted to 136 thousand barrels per day during the current year after startup for some of the projects of the company, noting that the size of the company's production over the past year reached 126 thousand barrels.Reserves also increased in all projects from 582.6 million barrels to 599.6 million barrels by the end of the month of December of the year 2012.

The value of investments within the United Arab Emirates energy company up to 44 billion dirhams, while the total value of foreign investment to 78 billion dirhams approx. The net debt-to-capital at the end of last September, 80%.

World-class

Achieved Abu Dhabi Company for Energy "Energy" strong performance in the sector of water and electricity production with low and high rates of failure technical readiness, and this is the performance of the highest levels in the world. As goes the company's expansion plans as planned, with the completion of 80% of the construction work on a project for the expansion shelf yellow station according to the allocated budget. Similarly, work is moving ahead with the plant expansion project Takoradi in Ghana, with access to all the required approvals and begin the process of construction.



and Japan add Reserve...

Japan buys 1.3 million barrels of oil storage

 
 
 
501f2fc8-10be-415d-89eb-498ee70c3d16.jpg
Body oil, gas and minerals Japanese buy 1.26 million barrels of crude from the Middle East for storage within the light of the strategic reserves.
15:07
8
November
2013

Tokyo - Agencies

Sources in the oil sector on Friday, said that the oil, gas and minerals Japan Yeh bought 1.26 million barrels of crude from the Middle East for storage within the light of the strategic reserves.

The Board has launched a tender for the purchase of Saudi Arabian light crude high-quality ore in addition to Murban and Lower Zakum crude who Tantjhma the Abu Dhabi but it is not clear what are the raw materials sold to the Authority within the framework of the government's efforts to replace the heavy crude with light materials.

There was no access to the body for comment.

The sources said that Mitsubishi Corp., Japan won the tender business, but a company spokesman said he could not immediately confirm that.

This is a tender on Friday, which has first tender for the body since it bought 1.89 million barrels of crude from the Upper Zakum which is produced by Abu Dhabi in July to be stored in the national reserves.

And proceeded Japan in recent years to replace heavy crude reserves with lightweight materials to reflect the growth in the proportion of light materials imported by the country in the recent period.



and Iraq needing Bigger and Sophisticated Oil Floats..

  •  
  •  
  

08-11-2013 10:36 AM

 

 

Baghdad (news) .. The Commission on oil and energy parliamentary, the need to re-fleet to transport Iraqi crude oil and buy new tankers and sophisticated. said the Commission's decision MP Mohammad Qasim (of the Agency news): The number of oil tankers are currently competent to transport oil derivatives, and is still the country lacks stretchers especially for oil transportation Iraqi crude, stressing the importance of allocating sufficient funds for the purchase of tankers sophisticated and modern for the transfer of oil in the process of export of the country. added: it must be re-fleet Iraqi and Iraq buy a new fleet to operate on the export of oil without the use of private companies to export oil, calling for the application of the theory of market economy free and give the opportunity for private companies to do the rehabilitation of the oil sector, as well as opening the door for investment in the oil field for the rehabilitation of infrastructure and facilities shabby. mentions that the company tankers of Iraqi oil under the Ministry of Oil was founded in (1972) and began fleet carriers, medium-sized and that the number was then seven tankers , In (1975) was built supertankers even became number tankers (24) including a giant and medium during the year (1979). , but due to the conditions of war and the age of tankers and the damage done to them led to the deterioration of tankers, In (2003) began Tanker Company oil play even managed in the year (2007) to buy small-sized tankers and then also received two tankers bringing the number four specialized tankers to transport oil derivatives. / End / 8. b. PVC /
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