Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 1
NewBase 11 February 2014 Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE
Kuwait awards $12b clean fuel project
AFP , Published: 18:57 February 10, 2014
Project awarded to British, US and Japanese-led consortia to boost capacity at oil refineries and make
production environmentally friendly .
Kuwait National Petroleum Co said on Monday it has awarded a $12-billion project to British, US and
Japanese-led consortia to
boost capacity at oil
refineries and make
production more
environmentally friendly.
Work on the three-part
project for KNPC to upgrade
refineries while reducing
sulphur and carbon
pollutants is expected to start
in April and be completed in
five years. The Mina
Abdullah I project was
awarded to a consortium led
by Britain’s Petrofac at $3.8
billion, Mina Abdullah II to
US Fluor-led consortium for
$3.4 billion, while Mina Al Ahmadi went to Japan’s JGC Corp-led consortium for $4.8 billion, KNPC
spokesman Khaled Al Assousi told AFP.
Assousi said he expected the contracts to be signed within the next six weeks and work to commence in
April. The current production capacity of the two refineries of Mina Al Ahmadi and Mina Abdullah is
around 730,000 barrels per day, while the capacity of Kuwait’s third refinery at Shuaiba is 200,000 bpd.
At the end of the projects, the capacity of the two refineries will be raised to 800,000 bpd, while Kuwait
plans to shut the third refinery. Kuwait is soon also expected to award contracts for a state-of-the-art
refinery with a capacity of 615,000bpd expected to come onstream after five years. Kuwait’s refining
capacity will reach over 1.4 million bpd from the existing capacity of 930,000 bpd, when all the projects are
completed.
The plans have been repeatedly delayed because of political disputes between parliament and the
government. The project to build a new refinery was scrapped by the government around five years ago,
months after five Japanese and South Korean companies were awarded contracts. MPs had opposed the plan
complaining of a lack of transparency in the tendering process.
• Mina Al-Ahmadi Refinery (KNPC), 470,000 bbl/d (75,000 m3
/d)
• Shuaiba Refinery (KNPC), 200,000 bbl/d (32,000 m3
/d)
• Mina Abdullah Refinery (KNPC), 270,000 bbl/d (43,000 m3
/d)
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 2
UAE-led group set to close $2bn India power deals
By Reuters
Abu Dhabi National Energy Co (TAQA), leading a consortium that plans to invest around $2 billion to
acquire hydropower assets in India, expects to close the deal this quarter, three sources familiar with the
matter told Reuters.
TAQA, majority-owned by the Abu Dhabi
government, is buying two hydropower plants
owned by Jaiprakash Power Ventures in the
northern Indian state of Himachal Pradesh. The
plants have a total capacity of 1,300 megawatts.
TAQA plans to take a majority stake in the plants
while India's IDFC Alternatives and PSP
Investments, a Canadian pension fund manager,
will hold minority stakes, the sources said.
"They are working to finalise it before the end of
this quarter, reinforcing TAQA's confidence in the Indian market to complement its existing power
generation business there," an Abu Dhabi source familiar with the matter said. "The deal value is estimated
to be slightly over $2 billion. The consortium is likely to take over the debts of the seller," a second source
said.
The sources declined to be named as the deal is yet to be signed. Spokesmen for TAQA and Jaiprakash
Power declined to comment. The deal would be TAQA's second investment in north India. Early last year, it
acquired a minority interest in a 100 megawatt hydroelectric plant, Himachal Sorang Power, in a joint
venture with Jyoti Structures..
TAQA also operates a 250 megawatt lignite power station in the Neyveli region of southern India. Last
month TAQA appointed five banks to arrange a potential international bond offer that is expected to launch
this quarter, sources told Reuters. The state-owned utility has investments in the energy and power sector
from India and the Middle East to Africa, Britain and North America.
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 3
Topaz Sends Two PSVs to West Africa on $50M Contract
http://www.offshoreenergytoday.com
Topaz Energy and Marine is expanding its West African operations by securing two PSV
contracts worth $50 million.
The UAE-based company did not disclose the
identity of the client but said that the contracts
will supply “one of the world’s leading
international oil companies” with two 3, 300
DWT Platform Supply Vessels that will
support their offshore production operations.
The value of these two contracts is $50
million and including these two Topaz’s total
contract backlog amounts to $1.2 billion.
The vessels, placed into service last year, are
equipped with dynamic positioning DP2.
Topaz’s fleet consists of 93 vessels, of an
average age of 7 years, not including 4 vessels that are under construction.
René Kofod-Olsen, CEO, Topaz Energy and Marine, said: “As part of our strategy, Topaz is pursuing
growth outside of our home markets of the Middle East and the Caspian, with West Africa being one of our
key target regions. These are important contracts for Topaz because of West Africa’s strategic significance.
We believe we have the right fleet and the management expertise to create a long-term sustainable business
in West Africa, always in partnership with local businesses. The region is forecast to see above market
growth in industry activity and OSV demand which we hope to capitalize upon.”
About Topaz Energy and Marine ( www.topazworld.com)
Topaz Energy and Marine is a leading oilfield services
company providing marine solutions to the global energy
industry with primary focus on the Middle East and the
Caspian Sea. Headquartered in Dubai with 40 years of
experience in the Middle East, Topaz operates a fleet of
more than 90 offshore support vessels of an average age
of 7 years, well below the global average of 12 years.
Topaz is a wholly owned subsidiary of Renaissance
Services SAOG, a publicly traded company on the Muscat
Securities Market, Oman.
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 4
Cepsa lands Kenyan acreage
http://www.upstreamonline.com/live/article1351767.ece
Spain’s Cepsa has completed a farm-in deal with US player ERHC Energy, giving it operatorship of an
onshore block in East Africa.
The former has taken a 55% stake in
Block 11A in the north-west of
Kenya following a previously-
announced deal between the two
parties.
ERHC, which will continue to hold
a 35% stake, said Cepsa will press
ahead with a 2D seismic, which is
expected to begin this spring.
Block 11A covers 2.95 million acres
and sits on the borders of South
Sudan and Lake Turkana, and close
to the border with Uganda.
About Cepsa Shareholding
As of
August
2011,
CEPSA is
owned by a single shareholder,
International Petroleum Investment
Company (IPIC).
International Petroleum Investment Company, IPIC, was formed by the Abu Dhabi government in 1984.
The company was tasked with making investments in the energy sector and has stakes in more than 15
companies in 10 countries on all five continents, with the following portfolio:
•60,000 million dollars in consolidated assets.
•The companies in which it has holdings include: EDP, Nova, Chemicals, Borealis, Cosmo Oil,
Aabar, OMV and Ferrostaal.
H.E. Khadem Al Qubaisi, is Chairman of CEPSA and Board Member & Managing Director of IPIC.
IPIC acquired a stake in CEPSA in 1988, and since then both firms have maintained close links and have
worked in cooperation. For CEPSA, having IPIC as its sole shareholder has presented it with a magnificent
opportunity for growth as well as a significant business challenge.
For more information about IPIC: www.ipic.ae
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 5
Drydocks, OIM to Finalize Rig Construction Contract in March
http://www.offshoreenergytoday.com
Drydocks World, the UAE-based provider of maritime and offshore services to the shipping, oil, gas
and energy sectors, held its first joint workshop on January 21-22, 2014, which was organized
following the recent signing of Letter of Intent (LOI) with Offshore Innovation Management Ltd., to
build a series of AJ 62-X135 series of multi-purpose (accommodation & construction) Jack-Up rigs.
Senior delegates from Offshore Innovation
Management (Owners), GustoMSC
(Designer and supplier of Jacking &
Fixation system) Markhus AS
(Accommodation specialist) DNV
(Classification Society) and Drydocks
World (Construction yard) attended the
workshop. The attendees included Oddgeir
Indrestrand, CEO, and Sturla Fjoran, COO,
Offshore Innovation Management; John
Inge Markhus, MD, Markhus Asia, Rene’
van Rossum, Project Manager, Gusto MSC,
Rajesh Panicker, DNV GL, Gerben Roks,
Products & Sales Manager – Cranes and
Jan Thore Lygren, Business Development
Manager – Cranes with Huisman.
Eng. Ali AlSuwaidi, VP – Commercial, Business Development & Project Management at Drydocks World
said, “We have continued to build on our successful strategy of taking on a leadership role in providing
value addition to the offshore sector. Drydocks World is joining with partners in putting the specifications
and final details of the rig. The shipyard is contributing its construction experience and engineering
capabilities to the owners and other rig’s main designers and seeks to overcome the construction challenges
and come up with a building philosophy that suits the owner and its usage environment. This workshop is
the start and there will be several more in line with achieving the milestones for delivering this project.”
“We have taken heed of the fact that there has been a surge in recent demand for higher specification jack-ups for
operation in deepwater and there has been additional growth in areas such as those adjoining the United Kingdom and
Norway. We are well-equipped to handle projects that involve a high level of sophistication such as the AJ 62-X135 type
rigs, which are one of the largest, and are in touch with industry needs,” he added.
Related: Drydocks to Build Jack-Up Unit for Offshore Innovation Management Ltd.
The discussions points at the workshop included the standards to be followed based on the stringent
requirement of operating the accommodation rig in North Sea and UK waters, the construction methodology
of the rig, detailed schedule considering the time for production engineering and long lead items in the yard,
the involvement and responsibility of the various parties. Various technical issues related the platform
engineering, procurement and construction, design and outfitting of the living quarters fit for 490 persons
and the 3000-tonne crane were also discussed and agreements reached. The forum also discussed the
requirement to provide an absolutely dust free environment for the outfitting works on the living quarters in
order to meet the requirements of Norsok standards.
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 6
Delivery in 2016
As a result of the joint workshop a clear way forward with key dates for all major milestones was agreed
between the parties. Drydocks World Engineering Department is now developing the final Technical
specification of the platform in conjunction with the owners and designers and is planning to conclude the
Rig Building Contract with OIM by March
2014 followed by an immediate Contract
award to its major Subcontractors.
The projects will start in 2014 and the first
rig is expected to be delivered in 2016. With
the availability of adequate capacities and
capabilities in the form of approximately
10,000 own and 3000 sub-contracted
manpower, large panel line workshop, panel
assembly & grand assembly areas, covered
and temperature controlled blasting and
painting facility, a unique launching facility
with 8000-tonne skidding capacity, and a
2000-tonne lifting capacity shear leg
floating crane, the yard is fully geared up to commence this challenging project .
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 7
Yemen's fuel bill exceeds oil export earnings
Reuters
Yemen's rising fuel import bill surged past its declining revenues from oil exports in 2013, central bank data
showed on Monday, putting increasing pressure on government finances. Yemen, one of the Arab world's
poorest countries, relies on oil exports to finance up to 70 per cent of its budget.
But frequent attacks on its oil infrastructure over the past two years has slashed exports and led to a rise in
fuel imports for the domestic market. Yemen's oil product imports more than doubled to 18.4 million
barrels in 2013 at a cost of $2.93 billion, while the government's oil revenues slumped by $833 million to
$2.66 billion, according to a report published by Yemen's central bank.
Its oil pipelines have been blown up many times
by tribesmen or Islamist militants since long-
serving President Ali Abdullah Saleh was forced
to step down in 2011. This has piled
unprecedented pressure on Yemen's already
shaky public finances and made it more difficult
for the cash-strapped government to restore
order.
The report said the government's share of oil
output was 24 million barrels in 2013, down
from 31 million in 2012. Yemen's average oil
export price was $114.59 a barrel last year, up
from $111 in 2012, the bank said.
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 8
PetroChina Parent Finds Gas
Aibing Guo (Bloomberg)
China National Petroleum Corp., the nation’s biggest oil and gas producer, discovered a natural
gas reserve big enough to supply China’s needs for almost two years.
The find in Anyue county in the southeastern province of Sichuan has a reserve of 440 billion
cubic meters, of which 308 billion cubic meters are technically recoverable, CNPC said in a
statement posted on its website yesterday.
China consumed 169 billion cubic meters of gas in 2013, according to the National
Development and Reform Commission. The nation is seeking to boost the use of the cleaner-
burning fuel to replace coal and tackle air pollution in its biggest cities including Beijing and
Tianjin.
The Anyue gas field belongs to Southwest Oil & Gasfield Co., a unit CNPC’s listed arm,
PetroChina Co., according to an Aug. 28 statement posted on Suining city’s Environmental
Protection Bureau’s website. Suining has jurisdiction over the area where most of the gas
reserves were found.
The find is the single biggest
gas discovery in China, and
could boost PetroChina’s total
proven gas reserves by as
much as 10 percent,
according to CLSA Ltd.’s
energy analysts Simon Powell
and Nelson Wang in an e-
mailed research note today.
The analysts said developing
the field could take 3 to 5
years.
PetroChina shares rose 1.8
percent to HK$7.81 as of
10:21 a.m. in Hong Kong, the
most since Nov. 19. The city’s
benchmark Hang Seng Index
gained 1 percent, while China Petroleum & Chemical Corp., the country’s no. 2 oil and gas
producer, and Cnooc Ltd., its biggest offshore explorer, both rose 3 percent.
‘Big Boost’
CLP Holdings Ltd., Hong Kong’s biggest power supplier, gained 2.9 percent to HK$59.75. CLP
and PetroChina agreed in May to establish a joint venture to manage natural gas imports to Hong
Kong, with PetroChina owning 60 percent.
The find is “a big boost to CNPC and PetroChina, as a new discovery of this scale can bring huge
profits, once commercial production starts,” said Shi Yan, an analyst with UOB-Kay Hian Ltd. in
Shanghai. “It will help strengthen China’s energy security as high output means less dependence
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 9
on imports.” China imported 53 billion cubic meters of natural gas in 2013, or 32 percent of its total
consumption, according to CNPC’s research institute.
A testing well at the site has produced as much as 1.1 million cubic meters of natural gas a day,
CNPC said in the statement. Production facilities being built at the site will help raise output to as
much as 10 billion cubic meters of gas a year.
PetroChina produced 58 billion cubic meters of natural gas in the first nine months of 2013,
according to its third-quarter earnings statement on Oct. 29. PetroChina spokesman Mao Zefeng
couldn’t be reached for comment. China had 3.1 trillion cubic meters of gas reserves at the end of
2012, enough for 28.9 years, according to BP Plc’s Statistical Review of World Energy released in
June 2013.
Additions by : NewBase :
China alone wants to more than double the share of gas in the next decade and to massively reduce especially the
combustion of coal, which is very harmful to the climate. Coal currently accounts for 80% of energy
demand, whereas gas makes up only 1%. Beijing has come to realise that both CO2 and sulphuric
emissions would have to be reduced drastically and local gas production would have to be supported.
Unconventional gas is supposed to play an important part in this scenario and to cover 30% of Chinese gas
demand by 2020 . PetroChina has recently announced that it wanted to step up the production of CBM by
a factor of 12 to a total of 4mn cubic metres by 2015. The overall CBM resources of China are estimated at
37bn cubic metres.
The technology transfer for this development has already started. CNOOC and PetroChina have
acquired numerous CBM and shale projects in the USA and Australia and established joint ventures. This
highlights the fact that an agreement was entered into last year with the US government within whose
framework China would be assisted in developing shale gas resources. On top of this PetroChina also
invested USD 5.4bn in Encana, the leading Canadian gas producer. In this transaction, PetroChina has
taken over 50% in the Cutbank-Ridge Shale project in British Columbia. The deal makes sense for both
parties, given that the
Canadians depend
strongly on the US
market and can thus
diversify, and
PetroChina benefits
from the technology
transfer. The fact that
an LNG plant was
being built in Kitimat
seems to have put the
seal on the
cooperation.
Wood Mackenzie
expects natural gas
consumption in
China to soar from 9
bcf/day today to 43 bcf/day in 2030, i.e. to increase by a factor of almost 5x. This is to be achieved on
the one hand by substantially higher domestic production, and on the other hand by higher pipeline
capacities from Central Asia and increased LNG imports. This was also a main issue in the recently
published five-year plan. According to the latter, China should follow the example of the USA and turn into
an essential producer of unconventional gas. Official Chinese statements have set the goal of defining 50
to 80 shale projects and exploring and developing close to 30 projects by 2020.
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 10
Egypt scrambling to meet summer energy needs: oil minister
(Reuters) –
Egypt will need to import an additional $1 billion worth of petroleum products and secure significant natural
gas supplies as it scrambles to meet energy needs for the summer, Oil Minister Sherif Ismail has told
Reuters.
One government after another has struggled to cope with energy crunches, and Ismail said this coming
season would be no exception. Failure to find a solution could frustrate Egyptians, who rioted in the past
over long lines at gas pumps just before the army toppled Islamist President Mohamed Mursi.
Political turmoil since a popular uprising ousted autocrat Hosni Mubarak in 2011 has paralysed decision
making. Disarray in the energy sector will take time to fix, even after a new government replaces the army-
backed interim administration. "Of course there are needs," said Ismail, adding that efforts to import badly
needed natural gas may not succeed.
"The intention is to (make available)
liquefied natural gas (LNG) and (to get)
LNG facilities in operation before the
summer ...It is our prime concern and
intention to solve this problem if not for
this year by 100 percent then at least for
the years yet to come." Egypt in October
tendered for a floating terminal needed to
import LNG. An official said at the time
that the government wanted the terminal
in place by April, before temperatures rise
and consumption spikes. The tender has
not yet been awarded, and experts say that time has run out for a terminal to be delivered and installed
before the summer. Ismail said the alternatives to importing LNG include shifting to using more expensive
fuel oil and encouraging Egyptians to conserve energy during peak hours.
These steps may not suffice. Analysts say about 75 percent of electricity production in Egypt is dependent
on gas, not fuel oil. Saudi Arabia, Kuwait and the United Arab Emirates extended an economic lifeline to
Egypt after the army ousted Mursi after mass protests against his rule.
Deeply mistrustful of Mursi's Muslim Brotherhood movement, these Gulf Arab states pledged billions of
dollars to the army-backed government, including petroleum products. Egypt has said it has received $4
billion in fuel products from Gulf nations since Mursi's ouster. Ismail said Egypt would require more
imports for the summer.
"The first estimate...is that we will need to import petroleum products of around $250 million per month
during the four summer months," Ismail said in an interview. Not all Gulf countries were generous with the
government after Mursi's ouster. Qatar, which backed the Brotherhood, sent Egypt LNG shipments last
summer but negotiations for further supplies stalled over political tensions.
The growing population of 85 million has kept energy demand steadily rising so that it now outstrips the
production of oil and gas from fields in the Western Desert, Nile Delta and offshore. Compounding the
problems, the government fell into heavy debt to foreign energy firms which Egypt needs to help it exploit
gas reserves that could enable the country to end power cuts and bolster export income.
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 11
Instead, surging demand has caused Egypt to divert high levels of gas produced by foreign companies such
as BG Group and promised to them for export. Ismail said that "the gap between production and
consumption" is caused mainly by the fact that Egypt has not developed its available reserves.
SUBSIDY BURDEN
Egypt's energy troubles weigh heavily on the economy. Talk of cutting fuel subsidies costing $15 billion a
year has produced limited results. Successive governments have feared that raising energy prices could
trigger unrest in a country where street protests have helped remove two presidents in three years.
Ismail, an engineer who held senior posts at several state-run energy firms before his appointment as
minister last July, says the interim government will take the first steps in a reform programme that would
see subsidies cut by 25 to 30
percent in five to six years.
A smart card system for fuel
purchases by drivers launched
during Mursi's year in office
should be operational within
three months, he said. The
government hopes the
initiative will allow it to
analyse fuel consumption data
before enacting reforms.
Ismail acknowledged that
subsidy spending in 2014
could exceed the targeted 140
billion Egyptian pounds
($20.11 billion), saying that
industrial needs may increase
in the second half of the
financial year which ends in
June. "The subsidy issue is
crucial," he said, adding that
increasing energy
consumption and the
government's target of seven
percent economic growth requires subsidy reform and efforts to diversify the energy mix. "Ninety-five
percent of energy consumed depends on crude oil and natural gas. The current energy mix doesn't really
work for Egypt, it is not secured, it is not economical, and it is not sustainable," he said. For now, Egypt is
aiming to increase its natural gas output even as the companies that produce it warn that political and
economic turmoil will lower their output.
Ismail said that Egypt aims to increase its natural gas output by 1,800 million cubic feet this year, up by 35
percent from the current production level of 5,100 million cubic feet. His ministry forecast last week that
gas production in the next fiscal year, which begins in July, would fail to meet surging domestic demand.
Ismail said that the government was in talks with BG Group to speed up the process of getting Phase 9A of
its West Delta Deep Marine offshore natural gas project on-stream. The latest drilling phase of that project
fell behind schedule last year.
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 12
ExxonMobil finds itself behind Googlehttp://www.upstreamonline.com/live/article1351777.ece
US supermajor ExxonMobil has taken third chair on the list of the country's most valuable publicly traded
companies after losing ground to tech giant Google
in market capitalisation.
As of market close on Friday, Google had a market
cap of $395.42 billion compared with ExxonMobil's
$392.66 billion valuation.
The oil and gas behemoth's New York-listed shares
have been on the decline in recent weeks and have
lost around 10% of their value since the first of the
year. A lacklustre quarterly earnings report that showed profits were down 16% - and down 27% on the
year - did not help the stock.
Google shares, meanwhile, have been rising steadily and are up around 5% since the start of the year and
66% since the beginning of last year.
The internet-search company is the second tech
mammoth to surpass ExxonMobil in recent years.
Apple passed up ExxonMobil in 2011, but the Rex
Tillerson-led company regained the throne in
2013.
ExxonMobil's flagging stock price has since
allowed Apple to take the lead, and the gadget
builder remains the leading US company by market
cap at $463.55 billion, as of Friday.
Both Apple and Google increased their leads over ExxonMobil in morning trade on Monday, with market
caps of $473.83 billion and $395.26 billion, respectively, at 12:30 pm in New York. Both tech stocks are
listed on the Nasdaq.
ExxonMobil's shares, listed on the New York Stock Exchange, were down just over 1% on Monday
morning at $89.63 apiece for a market cap of $391.68 billion.
The stock is down from where it was trading in mid-November when ace investor Warren Buffett revealed
that his company Berkshire Hathaway had acquired an approximate $3.44 billion stake in the Texas oil
company, a move seen as a vote of confidence for the supermajor.
That announcement, made public on 15 November when ExxonMobil's shares were trading around the $94
mark, gave a short-term boost to ExxonMobil's stock. Shares in the company traded above $100 as
recently as 17 January.
Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced,
redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained
in this publication. However, no warranty is given to the accuracy of its content . Page 13
NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE
Your partner in Energy Services
Khaled Malallah Al Awadi,
MSc. & BSc. Mechanical Engineering (HON), USA
ASME member since 1995
Emarat member since 1990
Energy Services & Consultants
Mobile : +97150-4822502
khalid_malallah@emarat.ae
khdmohd@hotmail.com
Khaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 years of experience in theof experience in theof experience in theof experience in the Oil & Gas sector. CurrentlOil & Gas sector. CurrentlOil & Gas sector. CurrentlOil & Gas sector. Currently working as Technical Affairsy working as Technical Affairsy working as Technical Affairsy working as Technical Affairs
Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via HSpecialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via HSpecialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via HSpecialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via Hawk Energyawk Energyawk Energyawk Energy
Service as a UAE operations base , Most of the experience were spent as the Gas OperaService as a UAE operations base , Most of the experience were spent as the Gas OperaService as a UAE operations base , Most of the experience were spent as the Gas OperaService as a UAE operations base , Most of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gastions Manager in Emarat , responsible for Emarat Gastions Manager in Emarat , responsible for Emarat Gastions Manager in Emarat , responsible for Emarat Gas
Pipeline Network Facility & gas compressor stations . Through the years , he has developed great experiences in the designinPipeline Network Facility & gas compressor stations . Through the years , he has developed great experiences in the designinPipeline Network Facility & gas compressor stations . Through the years , he has developed great experiences in the designinPipeline Network Facility & gas compressor stations . Through the years , he has developed great experiences in the designing & constructingg & constructingg & constructingg & constructing of gas pipelines,of gas pipelines,of gas pipelines,of gas pipelines,
gas metering & regulating stations and ingas metering & regulating stations and ingas metering & regulating stations and ingas metering & regulating stations and in the engineering of supply routes. Many years were spent drafting, & compiling gas transportation , operation &the engineering of supply routes. Many years were spent drafting, & compiling gas transportation , operation &the engineering of supply routes. Many years were spent drafting, & compiling gas transportation , operation &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 Cmaintenance agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Cmaintenance agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Cmaintenance agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Conferences held inonferences held inonferences held inonferences held in the UAEthe UAEthe UAEthe UAE
andandandand Energy program broadcasted internationally , via GCC leading satelliteEnergy program broadcasted internationally , via GCC leading satelliteEnergy program broadcasted internationally , via GCC leading satelliteEnergy program broadcasted internationally , via GCC leading satellite ChannelsChannelsChannelsChannels ....
NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE
NewBase 11 February 2014 K. Al Awadi

More Related Content

PDF
Ne base 12 feruary 2018 energy news issue 1140 by khaled al awadi
PDF
New base energy news 02 june 2020 issue no. 1344 senior editor eng. kha...
PDF
New base special 04 june 2014
PDF
New base 28 august 2021 energy news issue 1452 by khaled al awad i
PDF
Microsoft word ne base 20 march 2018 energy news issue - 1151 by khaled al...
PDF
New base 09 december 2020 energy news issue 1392 by khaled al awadi
PDF
Ne base 19 feruary 2018 energy news issue 1143 by khaled al awadi
PDF
New base 509 special 31 december 2014
Ne base 12 feruary 2018 energy news issue 1140 by khaled al awadi
New base energy news 02 june 2020 issue no. 1344 senior editor eng. kha...
New base special 04 june 2014
New base 28 august 2021 energy news issue 1452 by khaled al awad i
Microsoft word ne base 20 march 2018 energy news issue - 1151 by khaled al...
New base 09 december 2020 energy news issue 1392 by khaled al awadi
Ne base 19 feruary 2018 energy news issue 1143 by khaled al awadi
New base 509 special 31 december 2014

What's hot (19)

PDF
New base 784 special 10 februaury 2016
PDF
New base 783 special 09 februaury 2016
PDF
New base 04 may 2021 energy news issue 1429 by khaled al awadi
PDF
New base 13 july 2019 energy news issue 1260 by khaled m al awadi
PDF
New base energy news 06 may 2019 issue no 1243 by khaled al awadi
PDF
New base 806 special 13 march 2016
PDF
New base 827 special 11 april 2016
PDF
New base special 09 september 2014
PDF
New base 05 july 2019 energy news issue 1258 by khaled al awadi
PDF
New base 04 november 2019 energy news issue 1291 by khaled al awadi
PDF
New base 07 february 2018 energy news issue 1137 by khaled al awadi
PDF
New base energy news 02 july 2020 issue no. 1352 senior editor eng. khale...
PDF
New base 812 special 21 march 2016
PDF
New base energy news issue 933 dated 06 october 2016
PDF
NewBase 592 special 28 April 2015
PDF
New base 31 august 2021 energy news issue 1453 by khaled al awad i
PDF
New base special 06 april 2014
PDF
New base 494 special 10 december 2014
PDF
New base energy news issue 898 dated 02 august 2016
New base 784 special 10 februaury 2016
New base 783 special 09 februaury 2016
New base 04 may 2021 energy news issue 1429 by khaled al awadi
New base 13 july 2019 energy news issue 1260 by khaled m al awadi
New base energy news 06 may 2019 issue no 1243 by khaled al awadi
New base 806 special 13 march 2016
New base 827 special 11 april 2016
New base special 09 september 2014
New base 05 july 2019 energy news issue 1258 by khaled al awadi
New base 04 november 2019 energy news issue 1291 by khaled al awadi
New base 07 february 2018 energy news issue 1137 by khaled al awadi
New base energy news 02 july 2020 issue no. 1352 senior editor eng. khale...
New base 812 special 21 march 2016
New base energy news issue 933 dated 06 october 2016
NewBase 592 special 28 April 2015
New base 31 august 2021 energy news issue 1453 by khaled al awad i
New base special 06 april 2014
New base 494 special 10 december 2014
New base energy news issue 898 dated 02 august 2016
Ad

Viewers also liked (19)

PDF
New base special 08 january 2014 khaled al awadi part 2
PDF
New base special 07 january 2014 li
PDF
New base special 13 january 2014
PDF
New base special 06 february 2014
PDF
New base special 05 january 2014 khaled alawadi
PDF
New base special 04 february 2014
PDF
New base special 28 august 2014
PDF
New base special 07 january 2014 khaled al awadi
PDF
New base 490 special 01 december 2014
PDF
New base special 02 february 2014
PDF
New base special 16 february 2014
PDF
New base special 31 august 2014
PDF
New base special 09 january 2014
PDF
New base special 26 august 2014
PDF
New base special 12 february 2014
PDF
New base 493 special 09 december 2014
PDF
New base special 27 january 2014 khaled al awadi energy consultant
PDF
New base special 30 january 2014
PDF
Steel swaps explained
New base special 08 january 2014 khaled al awadi part 2
New base special 07 january 2014 li
New base special 13 january 2014
New base special 06 february 2014
New base special 05 january 2014 khaled alawadi
New base special 04 february 2014
New base special 28 august 2014
New base special 07 january 2014 khaled al awadi
New base 490 special 01 december 2014
New base special 02 february 2014
New base special 16 february 2014
New base special 31 august 2014
New base special 09 january 2014
New base special 26 august 2014
New base special 12 february 2014
New base 493 special 09 december 2014
New base special 27 january 2014 khaled al awadi energy consultant
New base special 30 january 2014
Steel swaps explained
Ad

Similar to New base special 11 february 2014 (20)

PDF
NewBase 12 November 2024 Energy News issue - 1761 by Khaled Al Awadi_compres...
PDF
New base energy news issue 847 dated 10 may 2016
PDF
New base 534 special 05 february 2015
PDF
New base 788 special 16 februaury 2016
PDF
New base 778 special 02 februaury 2016 r2
PDF
New base 523 special 21 january 2014
PDF
New base special 02 march 2014
PDF
New base 05 october 2017 energy news issue 1080 by khaled al awadi
PDF
New base 1037 special 01 june 2017 energy news ilovepdf-compressed
PDF
New base 07 november 2017 energy news issue 1097 by khaled al awadi
PDF
NewBase 14 September 2023 Energy News issue - 1656 by Khaled Al Awadi.pdf
PDF
New base special 04 may 2014
PDF
New base special 15 july 2014
PDF
New base 560 special 15 march 2015
PDF
New base special 11 may 2014
PDF
Ne base 20 april 2018 energy news issue 1162 by khaled al awadi
PDF
New base 1059 special 07 august 2017 energy news
PDF
New base energy news issue 907 dated 15 august 2016
PDF
Ne base 25 april 2018 energy news issue 1164 by khaled al awadi-
PDF
New base 701 special 06 october 2015
NewBase 12 November 2024 Energy News issue - 1761 by Khaled Al Awadi_compres...
New base energy news issue 847 dated 10 may 2016
New base 534 special 05 february 2015
New base 788 special 16 februaury 2016
New base 778 special 02 februaury 2016 r2
New base 523 special 21 january 2014
New base special 02 march 2014
New base 05 october 2017 energy news issue 1080 by khaled al awadi
New base 1037 special 01 june 2017 energy news ilovepdf-compressed
New base 07 november 2017 energy news issue 1097 by khaled al awadi
NewBase 14 September 2023 Energy News issue - 1656 by Khaled Al Awadi.pdf
New base special 04 may 2014
New base special 15 july 2014
New base 560 special 15 march 2015
New base special 11 may 2014
Ne base 20 april 2018 energy news issue 1162 by khaled al awadi
New base 1059 special 07 august 2017 energy news
New base energy news issue 907 dated 15 august 2016
Ne base 25 april 2018 energy news issue 1164 by khaled al awadi-
New base 701 special 06 october 2015

More from Khaled Al Awadi (20)

PDF
NewBase 30 - 31 August 2025 Energy News issue - 1821 by Khaled Al Awadi_comp...
PDF
NewBase 28 August 2025 Energy News issue - 1820 by Khaled Al Awadi_compresse...
PDF
NewBase 22 August 2025 Energy News issue - 1818 by Khaled Al Awadi_compresse...
PDF
NewBase 20 August 2025 Energy News issue - 1817 by Khaled Al Awadi_compresse...
PDF
NewBase 18 August 2025 Energy News issue - 1816 by Khaled Al Awadi_compresse...
PDF
NewBase 15 August 2025 Energy News issue - 1815 by Khaled Al Awadi_compresse...
PDF
NewBase 12 August 2025 Energy News issue - 1812 by Khaled Al Awadi_compresse...
PDF
NewBase 09 August 2025 Energy News issue - 1811 by Khaled Al Awadi_compresse...
PDF
NewBase 07 August 2025 Energy News issue - 1810 by Khaled Al Awadi_compresse...
PDF
NewBase 04 August 2025 Energy News issue - 1809 by Khaled Al Awadi_compresse...
PDF
NewBase 29 July 2025 Energy News issue - 1807 by Khaled Al Awadi_compressed.pdf
PDF
NewBase 26 July 2025 Energy News issue - 1806 by Khaled Al Awadi_compressed.pdf
PDF
NewBase 24 July 2025 Energy News issue - 1805 by Khaled Al Awadi._compressed...
PDF
NewBase 21 July 2025 Energy News issue - 1804 by Khaled Al Awadi_compressed ...
PDF
NewBase 14 July 2025 Energy News issue - 1802 by Khaled Al Awadi_compressed ...
PDF
NewBase 10 July 2025 Energy News issue - 1801 by Khaled Al Awadi_compressed.pdf
PDF
NewBase 07 July 2025 Energy News issue - 1800 by Khaled Al Awadi_compressed.pdf
PDF
NewBase 09 June 2025 Energy News issue - 1795 by Khaled Al Awadi Rec_compres...
PDF
NewBase 02 June 2025 Energy News issue - 1793 by Khaled Al Awadi Rec_compres...
PDF
NewBase 22 May 2025 Energy News issue - 1790 by Khaled Al Awadi_compressed.pdf
NewBase 30 - 31 August 2025 Energy News issue - 1821 by Khaled Al Awadi_comp...
NewBase 28 August 2025 Energy News issue - 1820 by Khaled Al Awadi_compresse...
NewBase 22 August 2025 Energy News issue - 1818 by Khaled Al Awadi_compresse...
NewBase 20 August 2025 Energy News issue - 1817 by Khaled Al Awadi_compresse...
NewBase 18 August 2025 Energy News issue - 1816 by Khaled Al Awadi_compresse...
NewBase 15 August 2025 Energy News issue - 1815 by Khaled Al Awadi_compresse...
NewBase 12 August 2025 Energy News issue - 1812 by Khaled Al Awadi_compresse...
NewBase 09 August 2025 Energy News issue - 1811 by Khaled Al Awadi_compresse...
NewBase 07 August 2025 Energy News issue - 1810 by Khaled Al Awadi_compresse...
NewBase 04 August 2025 Energy News issue - 1809 by Khaled Al Awadi_compresse...
NewBase 29 July 2025 Energy News issue - 1807 by Khaled Al Awadi_compressed.pdf
NewBase 26 July 2025 Energy News issue - 1806 by Khaled Al Awadi_compressed.pdf
NewBase 24 July 2025 Energy News issue - 1805 by Khaled Al Awadi._compressed...
NewBase 21 July 2025 Energy News issue - 1804 by Khaled Al Awadi_compressed ...
NewBase 14 July 2025 Energy News issue - 1802 by Khaled Al Awadi_compressed ...
NewBase 10 July 2025 Energy News issue - 1801 by Khaled Al Awadi_compressed.pdf
NewBase 07 July 2025 Energy News issue - 1800 by Khaled Al Awadi_compressed.pdf
NewBase 09 June 2025 Energy News issue - 1795 by Khaled Al Awadi Rec_compres...
NewBase 02 June 2025 Energy News issue - 1793 by Khaled Al Awadi Rec_compres...
NewBase 22 May 2025 Energy News issue - 1790 by Khaled Al Awadi_compressed.pdf

Recently uploaded (20)

PPTX
Traumatic Spinasjdjjdshjsjsjsjsjsjsjsjsj
PPTX
Andry Specialty Vehicles case study for Accounting
PPTX
Polio disease ujsn3 iksnuss. Isnnej.pptx
PDF
Smithers (35).pdf Paper on coming to terms with fiscal and trade deficits
PPT
IFM Chapter 01 of International Financial Management
DOCX
Internship company LUSA Trading and Services Joint Stock Company
PDF
Histpry of Economic thoughts _I_Chapter3.pdf
DOCX
INCREASING THE BRAND AWARENESS OF SULWHASOO COSMETICS IN THE VIETNAMESE MARKET
PDF
Entrep Part I entrepreneurship and business
DOCX
HOW TO OBTAIN COMPETITIVE ADVANTAGE USING SERVICE IN MOBILE COMMERCE – AMAZON
PPTX
Terms, Use and Concept of sociology.pptx
PPTX
ratio analysis presentation for graduate
PPTX
GOKULAM GOPALAN INDUSTRIES (Alen Saji).pptx
PDF
Rituals of Grief Across Cultures (www.kiu.ac.ug)
PDF
Micro 8 - Cost Function of Microeconomics
PDF
Income processes in Poland: An analysis based on GRID data
PPTX
ECN 3235 GROUP 28 PRESENTATION PLANNING.pptx
PPTX
Ch 01 introduction to economics micor and macro
PPT
Descriptive and Inferential Statistics - intro
PPTX
NON - FARM - AREAS - OF - EMPLOYMENT.pptx
Traumatic Spinasjdjjdshjsjsjsjsjsjsjsjsj
Andry Specialty Vehicles case study for Accounting
Polio disease ujsn3 iksnuss. Isnnej.pptx
Smithers (35).pdf Paper on coming to terms with fiscal and trade deficits
IFM Chapter 01 of International Financial Management
Internship company LUSA Trading and Services Joint Stock Company
Histpry of Economic thoughts _I_Chapter3.pdf
INCREASING THE BRAND AWARENESS OF SULWHASOO COSMETICS IN THE VIETNAMESE MARKET
Entrep Part I entrepreneurship and business
HOW TO OBTAIN COMPETITIVE ADVANTAGE USING SERVICE IN MOBILE COMMERCE – AMAZON
Terms, Use and Concept of sociology.pptx
ratio analysis presentation for graduate
GOKULAM GOPALAN INDUSTRIES (Alen Saji).pptx
Rituals of Grief Across Cultures (www.kiu.ac.ug)
Micro 8 - Cost Function of Microeconomics
Income processes in Poland: An analysis based on GRID data
ECN 3235 GROUP 28 PRESENTATION PLANNING.pptx
Ch 01 introduction to economics micor and macro
Descriptive and Inferential Statistics - intro
NON - FARM - AREAS - OF - EMPLOYMENT.pptx

New base special 11 february 2014

  • 1. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 1 NewBase 11 February 2014 Khaled Al Awadi NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE Kuwait awards $12b clean fuel project AFP , Published: 18:57 February 10, 2014 Project awarded to British, US and Japanese-led consortia to boost capacity at oil refineries and make production environmentally friendly . Kuwait National Petroleum Co said on Monday it has awarded a $12-billion project to British, US and Japanese-led consortia to boost capacity at oil refineries and make production more environmentally friendly. Work on the three-part project for KNPC to upgrade refineries while reducing sulphur and carbon pollutants is expected to start in April and be completed in five years. The Mina Abdullah I project was awarded to a consortium led by Britain’s Petrofac at $3.8 billion, Mina Abdullah II to US Fluor-led consortium for $3.4 billion, while Mina Al Ahmadi went to Japan’s JGC Corp-led consortium for $4.8 billion, KNPC spokesman Khaled Al Assousi told AFP. Assousi said he expected the contracts to be signed within the next six weeks and work to commence in April. The current production capacity of the two refineries of Mina Al Ahmadi and Mina Abdullah is around 730,000 barrels per day, while the capacity of Kuwait’s third refinery at Shuaiba is 200,000 bpd. At the end of the projects, the capacity of the two refineries will be raised to 800,000 bpd, while Kuwait plans to shut the third refinery. Kuwait is soon also expected to award contracts for a state-of-the-art refinery with a capacity of 615,000bpd expected to come onstream after five years. Kuwait’s refining capacity will reach over 1.4 million bpd from the existing capacity of 930,000 bpd, when all the projects are completed. The plans have been repeatedly delayed because of political disputes between parliament and the government. The project to build a new refinery was scrapped by the government around five years ago, months after five Japanese and South Korean companies were awarded contracts. MPs had opposed the plan complaining of a lack of transparency in the tendering process. • Mina Al-Ahmadi Refinery (KNPC), 470,000 bbl/d (75,000 m3 /d) • Shuaiba Refinery (KNPC), 200,000 bbl/d (32,000 m3 /d) • Mina Abdullah Refinery (KNPC), 270,000 bbl/d (43,000 m3 /d)
  • 2. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 2 UAE-led group set to close $2bn India power deals By Reuters Abu Dhabi National Energy Co (TAQA), leading a consortium that plans to invest around $2 billion to acquire hydropower assets in India, expects to close the deal this quarter, three sources familiar with the matter told Reuters. TAQA, majority-owned by the Abu Dhabi government, is buying two hydropower plants owned by Jaiprakash Power Ventures in the northern Indian state of Himachal Pradesh. The plants have a total capacity of 1,300 megawatts. TAQA plans to take a majority stake in the plants while India's IDFC Alternatives and PSP Investments, a Canadian pension fund manager, will hold minority stakes, the sources said. "They are working to finalise it before the end of this quarter, reinforcing TAQA's confidence in the Indian market to complement its existing power generation business there," an Abu Dhabi source familiar with the matter said. "The deal value is estimated to be slightly over $2 billion. The consortium is likely to take over the debts of the seller," a second source said. The sources declined to be named as the deal is yet to be signed. Spokesmen for TAQA and Jaiprakash Power declined to comment. The deal would be TAQA's second investment in north India. Early last year, it acquired a minority interest in a 100 megawatt hydroelectric plant, Himachal Sorang Power, in a joint venture with Jyoti Structures.. TAQA also operates a 250 megawatt lignite power station in the Neyveli region of southern India. Last month TAQA appointed five banks to arrange a potential international bond offer that is expected to launch this quarter, sources told Reuters. The state-owned utility has investments in the energy and power sector from India and the Middle East to Africa, Britain and North America.
  • 3. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 3 Topaz Sends Two PSVs to West Africa on $50M Contract http://www.offshoreenergytoday.com Topaz Energy and Marine is expanding its West African operations by securing two PSV contracts worth $50 million. The UAE-based company did not disclose the identity of the client but said that the contracts will supply “one of the world’s leading international oil companies” with two 3, 300 DWT Platform Supply Vessels that will support their offshore production operations. The value of these two contracts is $50 million and including these two Topaz’s total contract backlog amounts to $1.2 billion. The vessels, placed into service last year, are equipped with dynamic positioning DP2. Topaz’s fleet consists of 93 vessels, of an average age of 7 years, not including 4 vessels that are under construction. René Kofod-Olsen, CEO, Topaz Energy and Marine, said: “As part of our strategy, Topaz is pursuing growth outside of our home markets of the Middle East and the Caspian, with West Africa being one of our key target regions. These are important contracts for Topaz because of West Africa’s strategic significance. We believe we have the right fleet and the management expertise to create a long-term sustainable business in West Africa, always in partnership with local businesses. The region is forecast to see above market growth in industry activity and OSV demand which we hope to capitalize upon.” About Topaz Energy and Marine ( www.topazworld.com) Topaz Energy and Marine is a leading oilfield services company providing marine solutions to the global energy industry with primary focus on the Middle East and the Caspian Sea. Headquartered in Dubai with 40 years of experience in the Middle East, Topaz operates a fleet of more than 90 offshore support vessels of an average age of 7 years, well below the global average of 12 years. Topaz is a wholly owned subsidiary of Renaissance Services SAOG, a publicly traded company on the Muscat Securities Market, Oman.
  • 4. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 4 Cepsa lands Kenyan acreage http://www.upstreamonline.com/live/article1351767.ece Spain’s Cepsa has completed a farm-in deal with US player ERHC Energy, giving it operatorship of an onshore block in East Africa. The former has taken a 55% stake in Block 11A in the north-west of Kenya following a previously- announced deal between the two parties. ERHC, which will continue to hold a 35% stake, said Cepsa will press ahead with a 2D seismic, which is expected to begin this spring. Block 11A covers 2.95 million acres and sits on the borders of South Sudan and Lake Turkana, and close to the border with Uganda. About Cepsa Shareholding As of August 2011, CEPSA is owned by a single shareholder, International Petroleum Investment Company (IPIC). International Petroleum Investment Company, IPIC, was formed by the Abu Dhabi government in 1984. The company was tasked with making investments in the energy sector and has stakes in more than 15 companies in 10 countries on all five continents, with the following portfolio: •60,000 million dollars in consolidated assets. •The companies in which it has holdings include: EDP, Nova, Chemicals, Borealis, Cosmo Oil, Aabar, OMV and Ferrostaal. H.E. Khadem Al Qubaisi, is Chairman of CEPSA and Board Member & Managing Director of IPIC. IPIC acquired a stake in CEPSA in 1988, and since then both firms have maintained close links and have worked in cooperation. For CEPSA, having IPIC as its sole shareholder has presented it with a magnificent opportunity for growth as well as a significant business challenge. For more information about IPIC: www.ipic.ae
  • 5. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 5 Drydocks, OIM to Finalize Rig Construction Contract in March http://www.offshoreenergytoday.com Drydocks World, the UAE-based provider of maritime and offshore services to the shipping, oil, gas and energy sectors, held its first joint workshop on January 21-22, 2014, which was organized following the recent signing of Letter of Intent (LOI) with Offshore Innovation Management Ltd., to build a series of AJ 62-X135 series of multi-purpose (accommodation & construction) Jack-Up rigs. Senior delegates from Offshore Innovation Management (Owners), GustoMSC (Designer and supplier of Jacking & Fixation system) Markhus AS (Accommodation specialist) DNV (Classification Society) and Drydocks World (Construction yard) attended the workshop. The attendees included Oddgeir Indrestrand, CEO, and Sturla Fjoran, COO, Offshore Innovation Management; John Inge Markhus, MD, Markhus Asia, Rene’ van Rossum, Project Manager, Gusto MSC, Rajesh Panicker, DNV GL, Gerben Roks, Products & Sales Manager – Cranes and Jan Thore Lygren, Business Development Manager – Cranes with Huisman. Eng. Ali AlSuwaidi, VP – Commercial, Business Development & Project Management at Drydocks World said, “We have continued to build on our successful strategy of taking on a leadership role in providing value addition to the offshore sector. Drydocks World is joining with partners in putting the specifications and final details of the rig. The shipyard is contributing its construction experience and engineering capabilities to the owners and other rig’s main designers and seeks to overcome the construction challenges and come up with a building philosophy that suits the owner and its usage environment. This workshop is the start and there will be several more in line with achieving the milestones for delivering this project.” “We have taken heed of the fact that there has been a surge in recent demand for higher specification jack-ups for operation in deepwater and there has been additional growth in areas such as those adjoining the United Kingdom and Norway. We are well-equipped to handle projects that involve a high level of sophistication such as the AJ 62-X135 type rigs, which are one of the largest, and are in touch with industry needs,” he added. Related: Drydocks to Build Jack-Up Unit for Offshore Innovation Management Ltd. The discussions points at the workshop included the standards to be followed based on the stringent requirement of operating the accommodation rig in North Sea and UK waters, the construction methodology of the rig, detailed schedule considering the time for production engineering and long lead items in the yard, the involvement and responsibility of the various parties. Various technical issues related the platform engineering, procurement and construction, design and outfitting of the living quarters fit for 490 persons and the 3000-tonne crane were also discussed and agreements reached. The forum also discussed the requirement to provide an absolutely dust free environment for the outfitting works on the living quarters in order to meet the requirements of Norsok standards.
  • 6. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 6 Delivery in 2016 As a result of the joint workshop a clear way forward with key dates for all major milestones was agreed between the parties. Drydocks World Engineering Department is now developing the final Technical specification of the platform in conjunction with the owners and designers and is planning to conclude the Rig Building Contract with OIM by March 2014 followed by an immediate Contract award to its major Subcontractors. The projects will start in 2014 and the first rig is expected to be delivered in 2016. With the availability of adequate capacities and capabilities in the form of approximately 10,000 own and 3000 sub-contracted manpower, large panel line workshop, panel assembly & grand assembly areas, covered and temperature controlled blasting and painting facility, a unique launching facility with 8000-tonne skidding capacity, and a 2000-tonne lifting capacity shear leg floating crane, the yard is fully geared up to commence this challenging project .
  • 7. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 7 Yemen's fuel bill exceeds oil export earnings Reuters Yemen's rising fuel import bill surged past its declining revenues from oil exports in 2013, central bank data showed on Monday, putting increasing pressure on government finances. Yemen, one of the Arab world's poorest countries, relies on oil exports to finance up to 70 per cent of its budget. But frequent attacks on its oil infrastructure over the past two years has slashed exports and led to a rise in fuel imports for the domestic market. Yemen's oil product imports more than doubled to 18.4 million barrels in 2013 at a cost of $2.93 billion, while the government's oil revenues slumped by $833 million to $2.66 billion, according to a report published by Yemen's central bank. Its oil pipelines have been blown up many times by tribesmen or Islamist militants since long- serving President Ali Abdullah Saleh was forced to step down in 2011. This has piled unprecedented pressure on Yemen's already shaky public finances and made it more difficult for the cash-strapped government to restore order. The report said the government's share of oil output was 24 million barrels in 2013, down from 31 million in 2012. Yemen's average oil export price was $114.59 a barrel last year, up from $111 in 2012, the bank said.
  • 8. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 8 PetroChina Parent Finds Gas Aibing Guo (Bloomberg) China National Petroleum Corp., the nation’s biggest oil and gas producer, discovered a natural gas reserve big enough to supply China’s needs for almost two years. The find in Anyue county in the southeastern province of Sichuan has a reserve of 440 billion cubic meters, of which 308 billion cubic meters are technically recoverable, CNPC said in a statement posted on its website yesterday. China consumed 169 billion cubic meters of gas in 2013, according to the National Development and Reform Commission. The nation is seeking to boost the use of the cleaner- burning fuel to replace coal and tackle air pollution in its biggest cities including Beijing and Tianjin. The Anyue gas field belongs to Southwest Oil & Gasfield Co., a unit CNPC’s listed arm, PetroChina Co., according to an Aug. 28 statement posted on Suining city’s Environmental Protection Bureau’s website. Suining has jurisdiction over the area where most of the gas reserves were found. The find is the single biggest gas discovery in China, and could boost PetroChina’s total proven gas reserves by as much as 10 percent, according to CLSA Ltd.’s energy analysts Simon Powell and Nelson Wang in an e- mailed research note today. The analysts said developing the field could take 3 to 5 years. PetroChina shares rose 1.8 percent to HK$7.81 as of 10:21 a.m. in Hong Kong, the most since Nov. 19. The city’s benchmark Hang Seng Index gained 1 percent, while China Petroleum & Chemical Corp., the country’s no. 2 oil and gas producer, and Cnooc Ltd., its biggest offshore explorer, both rose 3 percent. ‘Big Boost’ CLP Holdings Ltd., Hong Kong’s biggest power supplier, gained 2.9 percent to HK$59.75. CLP and PetroChina agreed in May to establish a joint venture to manage natural gas imports to Hong Kong, with PetroChina owning 60 percent. The find is “a big boost to CNPC and PetroChina, as a new discovery of this scale can bring huge profits, once commercial production starts,” said Shi Yan, an analyst with UOB-Kay Hian Ltd. in Shanghai. “It will help strengthen China’s energy security as high output means less dependence
  • 9. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 9 on imports.” China imported 53 billion cubic meters of natural gas in 2013, or 32 percent of its total consumption, according to CNPC’s research institute. A testing well at the site has produced as much as 1.1 million cubic meters of natural gas a day, CNPC said in the statement. Production facilities being built at the site will help raise output to as much as 10 billion cubic meters of gas a year. PetroChina produced 58 billion cubic meters of natural gas in the first nine months of 2013, according to its third-quarter earnings statement on Oct. 29. PetroChina spokesman Mao Zefeng couldn’t be reached for comment. China had 3.1 trillion cubic meters of gas reserves at the end of 2012, enough for 28.9 years, according to BP Plc’s Statistical Review of World Energy released in June 2013. Additions by : NewBase : China alone wants to more than double the share of gas in the next decade and to massively reduce especially the combustion of coal, which is very harmful to the climate. Coal currently accounts for 80% of energy demand, whereas gas makes up only 1%. Beijing has come to realise that both CO2 and sulphuric emissions would have to be reduced drastically and local gas production would have to be supported. Unconventional gas is supposed to play an important part in this scenario and to cover 30% of Chinese gas demand by 2020 . PetroChina has recently announced that it wanted to step up the production of CBM by a factor of 12 to a total of 4mn cubic metres by 2015. The overall CBM resources of China are estimated at 37bn cubic metres. The technology transfer for this development has already started. CNOOC and PetroChina have acquired numerous CBM and shale projects in the USA and Australia and established joint ventures. This highlights the fact that an agreement was entered into last year with the US government within whose framework China would be assisted in developing shale gas resources. On top of this PetroChina also invested USD 5.4bn in Encana, the leading Canadian gas producer. In this transaction, PetroChina has taken over 50% in the Cutbank-Ridge Shale project in British Columbia. The deal makes sense for both parties, given that the Canadians depend strongly on the US market and can thus diversify, and PetroChina benefits from the technology transfer. The fact that an LNG plant was being built in Kitimat seems to have put the seal on the cooperation. Wood Mackenzie expects natural gas consumption in China to soar from 9 bcf/day today to 43 bcf/day in 2030, i.e. to increase by a factor of almost 5x. This is to be achieved on the one hand by substantially higher domestic production, and on the other hand by higher pipeline capacities from Central Asia and increased LNG imports. This was also a main issue in the recently published five-year plan. According to the latter, China should follow the example of the USA and turn into an essential producer of unconventional gas. Official Chinese statements have set the goal of defining 50 to 80 shale projects and exploring and developing close to 30 projects by 2020.
  • 10. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 10 Egypt scrambling to meet summer energy needs: oil minister (Reuters) – Egypt will need to import an additional $1 billion worth of petroleum products and secure significant natural gas supplies as it scrambles to meet energy needs for the summer, Oil Minister Sherif Ismail has told Reuters. One government after another has struggled to cope with energy crunches, and Ismail said this coming season would be no exception. Failure to find a solution could frustrate Egyptians, who rioted in the past over long lines at gas pumps just before the army toppled Islamist President Mohamed Mursi. Political turmoil since a popular uprising ousted autocrat Hosni Mubarak in 2011 has paralysed decision making. Disarray in the energy sector will take time to fix, even after a new government replaces the army- backed interim administration. "Of course there are needs," said Ismail, adding that efforts to import badly needed natural gas may not succeed. "The intention is to (make available) liquefied natural gas (LNG) and (to get) LNG facilities in operation before the summer ...It is our prime concern and intention to solve this problem if not for this year by 100 percent then at least for the years yet to come." Egypt in October tendered for a floating terminal needed to import LNG. An official said at the time that the government wanted the terminal in place by April, before temperatures rise and consumption spikes. The tender has not yet been awarded, and experts say that time has run out for a terminal to be delivered and installed before the summer. Ismail said the alternatives to importing LNG include shifting to using more expensive fuel oil and encouraging Egyptians to conserve energy during peak hours. These steps may not suffice. Analysts say about 75 percent of electricity production in Egypt is dependent on gas, not fuel oil. Saudi Arabia, Kuwait and the United Arab Emirates extended an economic lifeline to Egypt after the army ousted Mursi after mass protests against his rule. Deeply mistrustful of Mursi's Muslim Brotherhood movement, these Gulf Arab states pledged billions of dollars to the army-backed government, including petroleum products. Egypt has said it has received $4 billion in fuel products from Gulf nations since Mursi's ouster. Ismail said Egypt would require more imports for the summer. "The first estimate...is that we will need to import petroleum products of around $250 million per month during the four summer months," Ismail said in an interview. Not all Gulf countries were generous with the government after Mursi's ouster. Qatar, which backed the Brotherhood, sent Egypt LNG shipments last summer but negotiations for further supplies stalled over political tensions. The growing population of 85 million has kept energy demand steadily rising so that it now outstrips the production of oil and gas from fields in the Western Desert, Nile Delta and offshore. Compounding the problems, the government fell into heavy debt to foreign energy firms which Egypt needs to help it exploit gas reserves that could enable the country to end power cuts and bolster export income.
  • 11. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 11 Instead, surging demand has caused Egypt to divert high levels of gas produced by foreign companies such as BG Group and promised to them for export. Ismail said that "the gap between production and consumption" is caused mainly by the fact that Egypt has not developed its available reserves. SUBSIDY BURDEN Egypt's energy troubles weigh heavily on the economy. Talk of cutting fuel subsidies costing $15 billion a year has produced limited results. Successive governments have feared that raising energy prices could trigger unrest in a country where street protests have helped remove two presidents in three years. Ismail, an engineer who held senior posts at several state-run energy firms before his appointment as minister last July, says the interim government will take the first steps in a reform programme that would see subsidies cut by 25 to 30 percent in five to six years. A smart card system for fuel purchases by drivers launched during Mursi's year in office should be operational within three months, he said. The government hopes the initiative will allow it to analyse fuel consumption data before enacting reforms. Ismail acknowledged that subsidy spending in 2014 could exceed the targeted 140 billion Egyptian pounds ($20.11 billion), saying that industrial needs may increase in the second half of the financial year which ends in June. "The subsidy issue is crucial," he said, adding that increasing energy consumption and the government's target of seven percent economic growth requires subsidy reform and efforts to diversify the energy mix. "Ninety-five percent of energy consumed depends on crude oil and natural gas. The current energy mix doesn't really work for Egypt, it is not secured, it is not economical, and it is not sustainable," he said. For now, Egypt is aiming to increase its natural gas output even as the companies that produce it warn that political and economic turmoil will lower their output. Ismail said that Egypt aims to increase its natural gas output by 1,800 million cubic feet this year, up by 35 percent from the current production level of 5,100 million cubic feet. His ministry forecast last week that gas production in the next fiscal year, which begins in July, would fail to meet surging domestic demand. Ismail said that the government was in talks with BG Group to speed up the process of getting Phase 9A of its West Delta Deep Marine offshore natural gas project on-stream. The latest drilling phase of that project fell behind schedule last year.
  • 12. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 12 ExxonMobil finds itself behind Googlehttp://www.upstreamonline.com/live/article1351777.ece US supermajor ExxonMobil has taken third chair on the list of the country's most valuable publicly traded companies after losing ground to tech giant Google in market capitalisation. As of market close on Friday, Google had a market cap of $395.42 billion compared with ExxonMobil's $392.66 billion valuation. The oil and gas behemoth's New York-listed shares have been on the decline in recent weeks and have lost around 10% of their value since the first of the year. A lacklustre quarterly earnings report that showed profits were down 16% - and down 27% on the year - did not help the stock. Google shares, meanwhile, have been rising steadily and are up around 5% since the start of the year and 66% since the beginning of last year. The internet-search company is the second tech mammoth to surpass ExxonMobil in recent years. Apple passed up ExxonMobil in 2011, but the Rex Tillerson-led company regained the throne in 2013. ExxonMobil's flagging stock price has since allowed Apple to take the lead, and the gadget builder remains the leading US company by market cap at $463.55 billion, as of Friday. Both Apple and Google increased their leads over ExxonMobil in morning trade on Monday, with market caps of $473.83 billion and $395.26 billion, respectively, at 12:30 pm in New York. Both tech stocks are listed on the Nasdaq. ExxonMobil's shares, listed on the New York Stock Exchange, were down just over 1% on Monday morning at $89.63 apiece for a market cap of $391.68 billion. The stock is down from where it was trading in mid-November when ace investor Warren Buffett revealed that his company Berkshire Hathaway had acquired an approximate $3.44 billion stake in the Texas oil company, a move seen as a vote of confidence for the supermajor. That announcement, made public on 15 November when ExxonMobil's shares were trading around the $94 mark, gave a short-term boost to ExxonMobil's stock. Shares in the company traded above $100 as recently as 17 January.
  • 13. Copyright © 2014 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content . Page 13 NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE Your partner in Energy Services Khaled Malallah Al Awadi, MSc. & BSc. Mechanical Engineering (HON), USA ASME member since 1995 Emarat member since 1990 Energy Services & Consultants Mobile : +97150-4822502 [email protected] [email protected] Khaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 yearsKhaled Al Awadi is a UAE National with a total of 24 years of experience in theof experience in theof experience in theof experience in the Oil & Gas sector. CurrentlOil & Gas sector. CurrentlOil & Gas sector. CurrentlOil & Gas sector. Currently working as Technical Affairsy working as Technical Affairsy working as Technical Affairsy working as Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via HSpecialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via HSpecialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via HSpecialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via Hawk Energyawk Energyawk Energyawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas OperaService as a UAE operations base , Most of the experience were spent as the Gas OperaService as a UAE operations base , Most of the experience were spent as the Gas OperaService as a UAE operations base , Most of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gastions Manager in Emarat , responsible for Emarat Gastions Manager in Emarat , responsible for Emarat Gastions Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , he has developed great experiences in the designinPipeline Network Facility & gas compressor stations . Through the years , he has developed great experiences in the designinPipeline Network Facility & gas compressor stations . Through the years , he has developed great experiences in the designinPipeline Network Facility & gas compressor stations . Through the years , he has developed great experiences in the designing & constructingg & constructingg & constructingg & constructing of gas pipelines,of gas pipelines,of gas pipelines,of gas pipelines, gas metering & regulating stations and ingas metering & regulating stations and ingas metering & regulating stations and ingas metering & regulating stations and in the engineering of supply routes. Many years were spent drafting, & compiling gas transportation , operation &the engineering of supply routes. Many years were spent drafting, & compiling gas transportation , operation &the engineering of supply routes. Many years were spent drafting, & compiling gas transportation , operation &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 Cmaintenance agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Cmaintenance agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Cmaintenance agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Conferences held inonferences held inonferences held inonferences held in the UAEthe UAEthe UAEthe UAE andandandand Energy program broadcasted internationally , via GCC leading satelliteEnergy program broadcasted internationally , via GCC leading satelliteEnergy program broadcasted internationally , via GCC leading satelliteEnergy program broadcasted internationally , via GCC leading satellite ChannelsChannelsChannelsChannels .... NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE NewBase 11 February 2014 K. Al Awadi