Thursday, September 13, 2012

WAfrica Crude-Stronger as October cargoes find homes

 
http://www.reuters.com/article/2012/09/13/markets-oil-westafrica-idUSL5E8KDFCI20120913

GENEVA, (Reuters) - West African crude oil
differentials firmed a little on Thursday as remaining supplies
of Nigerian and Angolan grades found homes with end-consumers
and as another Asian buying tender was announced.
    Two Indian refiners are in the market for sweet crudes
loading in November and both may take West African barrels,
especially if differentials remain as depressed as they have
been with the absence of many U.S. end-consumers.
    Only a handful of the almost 160 cargoes due to load across
the region in October are still available, traders said, with
more than 30 cargoes of Nigerian, Angolan and other African
producers said to have been sold over the last week.
    More Asian buying tenders for November are expected to be
announced over the next week, traders said.

    NIGERIA
    * Only around half a dozen of 72 Nigerian crude cargoes for
lifting in October are left unplaced with end-users, traders
said, including a Bonga, Yoho, Bonny and two Qua Iboe cargoes.
    * Qua Iboe BFO-QUA: BP was said to be re-offering a Qua
Iboe cargo for Oct. 26-27 at above dated Brent plus $2.50, a
level considered "speculative" by one potential buyer. Exxon was
also reported to be offering a Qua Iboe cargo for loading in the
last three days of October.

    ANGOLA
    * Five cargoes loading in October were still unplaced,
traders said, comprising Kissanje, Girassol, Saxi, Palanca and
Cabinda.
    * Kissanje: Exxon offered a cargo at dated Brent plus 30
cents with bids said to be close to below dated Brent.
    * Girassol: Total offered an end-October Girassol cargo at
dated Brent plus 60 cents, but buying indications were seen
around plus 20 cents and doable levels somewhere in the middle
of this range, traders said.
                
    TENDERS 
    * Mangalore Refinery and Petrochemicals Ltd (MRPL) has
tendered to buy 600,000 barrels of low sulphur crude oil loading
in November on an fob or delivered basis, tender documents
showed on Thursday. Quality offers must be submitted by Sept. 18
and must remain valid until Sept. 21.
    * India's Bharat Petroleum Corp (BPCL) has tendered to buy
one or more cargoes of light, sweet crude loading in November,
tender documents show. Quality offers to the oil refiner must be
submitted by Sept. 14 and price offers by Sept. 17 and must
remain valid until Sept 19. 
    * State-owned refiner Indian Oil Co Corp (IOC) bought five
West African light, sweet crude oil cargoes for loading in
November, traders said. IOC took two Nigerian Qua Iboe cargoes
from Chevron, one Qua Iboe and one Nigerian Bonga cargo from
Glencore and one Angolan Kissanje cargo from Morgan Stanley.
Price details were not disclosed. Details of the awards could
not be confirmed with officials at IOC or with the traders
reported to be involved. 
    
    DATABASE 
    For a database of oil supply and demand fundamentals
upstream and downstream, Reuters subscribers can click on:
    here

 (Reporting by Christopher Johnson; Editing by Alison Birrane)

Wednesday, September 12, 2012

Storage facility to come online in Iran within a month

 
http://tankstoragemag.com/industry_news.php?item_id=5378

One of Iran's largest oil storage facilities currently under construction is scheduled to come online within the next month.

Located in the southeast of Kerman province, the 650 billion rials (€41 million) facility will be able to store 345 million litres of petrol and diesel fuel.

As Tank Storage magazine reported last week, five new storage terminals will be online by March next year in the nation, increasing its storage capacity from 11.6 billion to 12.8 billion litres. Iran's current capacity has been deemed insufficient for 58 days consumption.

Last year, Iran installed 16 new storage facilities which added an extra 1 billion litres. The nation hopes to be able to store 14.5 billion litres of oil by 2016 and is to set aside $47.5 billion (€38 billion) to invest in various sectors of the oil refining and distribution industry. In addition, the national oil pipeline network will be extended from 3,700km to 5,100km by 2015.

U.S. ambassador to Libya killed in Benghazi attack

U.S. envoy Chris Stevens listens during a news conference held by leaders of Libya's rebel leadership after talks with representatives of the African Union in Benghazi April 11, 2011. REUTERS/Esam al-Fetori
 
 
By Hadeel Al Shalchi | Reuters
 
BENGHAZI, Libya (Reuters) - The U.S. ambassador to Libya and three embassy staff were killed as they rushed away from a consulate building in Benghazi, stormed by al Qaeda-linked gunmen blaming America for a film that they said insulted the Prophet Mohammad.
 
Gunmen had attacked and set fire to the U.S. consulate in the eastern city of Benghazi, the cradle of last year's uprising against Muammar Gaddafi's 42-year rule, late on Tuesday evening as another assault was mounted on the U.S. embassy in Cairo.

The California-born ambassador, Christopher Stevens, was trying to leave the consulate building for a safer location as part of an evacuation when gunmen launched an intense attack, apparently forcing security personnel to withdraw.

"The American ambassador and three staff members were killed when gunmen fired rockets in their direction," a Libyan official in Benghazi told Reuters. Airport sources said the bodies were due to be flown from Benghazi to Tripoli.

The attack was believed to have been carried out by Ansar al-Sharia, an al Qaeda-style Sunni Islamist group that has been active in Benghazi, a Libyan security official said. Witnesses said the mob also included tribesmen, militia and other gunmen.

The attack raised questions about the future U.S. diplomatic presence in Libya, relations between Washington and Tripoli, the unstable security situation in post-Gaddafi Libya and whether more protests might take place in the Muslim world.

The film portrayed Mohammad as a fool, a philanderer and a religious fake. In one clip posted on YouTube, Mohammad was shown in an apparent sexual act with a woman. For many Muslims it is blasphemous even to show a depiction of the Prophet.

U.S. President Barack Obama, whose administration supported the Libyan insurgency with funds, weapons and training, branded the killing an "outrageous attack" and ordered increased security at U.S. diplomatic posts worldwide.

KARZAI CONDEMNS "DEVILISH ACT"

A Danish newspaper caused a storm of protest across Islamic nations in 2005 by printing cartoons lampooning Islam and the Prophet Mohammad in 2005, the most famous depicted him wearing a bomb in his turban. The images touched off riots in the Middle East, Africa and Asia in 2006 in which at least 50 people died.

Afghan President Hamid Karzai sharply condemned the film in a statement, calling its making a "devilish act", saying he was certain those involved in its production represented a very small minority.

U.S. ambassadors in such volatile countries as Libya are accompanied by tight security, usually travelling in well-protected convoys. Diplomatic missions are usually protected by marines or other special forces.

Stevens grew up in California, graduated from Berkeley and worked in North Africa as a Peace Corps volunteer. He taught English in Morocco before joining the foreign service where he worked in the Middle East and North Africa.

Libya's interim government has struggled to impose its authority on a myriad of armed groups that refused to lay down their weapons and often take the law into their own hands.

Security experts say the area around Benghazi is host to a number of Islamist militant groups who oppose any Western presence in Muslim countries.

The worst-case scenario for Western governments is that a spate of recent attacks could be the start of an Iraq-style insurgency by Islamist militants. That could have an impact on oil exports as the energy sector depends on foreign workers.

However, security analysts say an insurgency is unlikely to gain the kind of traction it had in Iraq, mainly because Western states have no military presence on the ground in Libya.

Libyan Deputy Prime Minister Mustafa Abu Shagour condemned the killing of the U.S. diplomats as a cowardly act.

INTENSE ATTACK

The consular officials were killed after heavy clashes between Libyan security forces and Islamist militants around the consulate building. Looters raided the empty compound and some onlookers took pictures after calm returned.

"The Libyan security forces came under heavy fire and we were not prepared for the intensity of the attack," said Abdel-Monem Al-Hurr, spokesman for Libya's Supreme Security Committee.

U.S. pastor Terry Jones, who had inflamed anger in the Muslim world in 2010 with plans to burn the Koran, said he had promoted "Innocence of Muslims", which U.S. media said was produced by an Israeli-American property developer.

Jones, a pastor in Florida whose latest stunt fell on the anniversary of the September 11, 2001, attacks on the World Trade Center and the Pentagon, triggered riots in Afghanistan in 2010 with his threat to burn the Koran.

Many Muslims consider any depiction of the Prophet as offensive and any depiction of him can cause furious protests in the Islamic world as well as among Muslims in Europe.

CHARRED WALLS, FIRE BURNS

On Wednesday morning, the compound in Benghazi stood empty, with passers-by freely walking in to take a look at the damage.

Walls were charred and a small fire burned inside one of the buildings. A small group of men was trying to extinguish the flames and three security men briefly surveyed the scene.

A Reuters reporter saw chairs, table and food lying alongside empty shells. Some blood stains could also be seen in front of one of the buildings. Three cars were burnt out.

In neighboring Egypt, demonstrators had torn down an American flag and burned it during a protest against the film. Some tried to raise a black flag with the words "There is no God but God, and Mohammad is his messenger".

The crowd of around 2,000 protesters in Cairo protesting against the film was a mixture of Islamists and teenage soccer fans known for fighting police and who played a part in the revolt that toppled Egypt's leader Hosni Mubarak last year.

Egypt's Coptic Orthodox Church condemned in a statement some Copts living abroad who it said financed "the production of a film insulting the Prophet Mohammad", an Egyptian state website said. About a 10th of Egypt's 83 million people are Christian.

The fortress-like U.S. mission in Cairo is near Tahrir Square, where Egypt's uprising began and the scene of many protests since. Youths danced and chanted football songs. A Reuters reporter said they appeared to climb into the embassy compound almost as an afterthought.

"We sacrificed dozens and hundreds during the uprising for our dignity. The Prophet's dignity is more important to us and we are ready to sacrifice millions," said mosque preacher Mohamed Abu Gabal who joined the protest.

(Additional reporting by Samia Nakhoul in Beirut, Marie-Louise Gumuchian in Tripoli,Hadeel Al Shalchi in Tripoli, Sarah N. Lynch and Arshad Mohammed in Washington, and Reuters reporters in Cairo and Benghazi; Writing by Peter Millership and Ralph Boulton, editing by)

Monday, September 10, 2012

3 Nigeria oil firm staffers killed fixing pipeline

 
http://www.google.com/hostednews/ap/article/ALeqM5je_0XUIAZi-aIhSap1YrbbazmcaQ?docId=a358cf2a23e8449885e28cb1a36c424a

LAGOS, Nigeria (AP) — Nigeria's state-run oil company says suspected oil thieves have killed three of its employees near Nigeria's commercial capital.

Fidel Pepple, a spokesman for the Nigerian National Petroleum Corporation, said in a statement Monday that gunmen shot at a team of engineers and technicians doing repairs on an oil pipeline in a town just north of Lagos this weekend. Others were hurt in the attack, he said.

Pepple said the pipeline was under repair after being vandalized.

Oil theft is common in Nigeria, an impoverished West African nation.

However, such attacks are rare around Lagos.
They typically happen in the nation's oil-rich southern delta, a maze of creeks and swamps about the size of Portugal.

Nigeria, an OPEC member, is a top exporter of crude to the U.S.

Friday, September 7, 2012

 
Nigeria Oil & Gas Trade and Investment Forum

The Nigeria Oil & Gas Trade and Investment Forum (NOGTIF) will take place in Onne Oil & Gas Free Zone, Nigeria from the 20-21 September 2012. The conference and exhibition will bring together hundreds of senior level decision and policy makers from the global oil and gas industry, focussing on trade and investment opportunities in Nigeria and the oil and gas sector, particularly the Onne Oil and Gas Free Zone.

Theme: “Harnessing Investment Opportunities in the Oil and Gas Sector: The role of the Oil and Gas Free Trade Zones in the Transformation agenda”
Organizers: Federal Ministry of Trade and Investment in collaboration with Orlean Invest West Africa.
Participants:National oil & gas investors and international investors from the Middle East, Asia, USA, Europe and Africa.
Why attend?
Onne Oil and Gas Free Zone, managed by D.M.S. (Nigeria) Ltd, is the only Free Zone in the world dedicated solely to oil and gas – you will have the opportunity to meet with key players in the industry, and hear from leading experts including members of the Ministry of Trade and Investment.
The first ever Nigeria Oil & Gas Trade and Investment Forum will offer delegates the opportunity to:
· Learn more about the Free Trade Zone and investment opportunities
· Hear from Nigerian dignitaries including the Minister of Trade and Investment
· Network with top global executives and key decision makers
· Discover new products and suppliers from a range of exhibiting companies
Conference Programme

The two day conference will feature high level speakers from the oil and gas industry, including Nigerian dignitaries and Ministers providing keynote speeches, technical sessions and informative panel discussions with the following topics:

· NigeriaOil & Gas Free Trade Zones: Impacts, Challenges and the Way Forward
· Deregulation of the Petroleum Downstream Sector: A Transformational Instrument for Wealth and Job Creation
· The Public Private Partnership Arrangement (PPPA): The Onne Port/Oil and Gas Free Trade Zone Experience
· Free Trade Zone: A Sure Destination for the Achievement of Nigeria Content Policy
· The Role of Immigration in Facilitating Trade & Investment in the Free Trade Zone
 
Exhibition

The exhibition will run alongside the two day conference, offering visitors the chance to meet with high profile oil and gas companies, as well as Governmental Ministries, Departments and Agencies to discuss opportunities for investment.

Together, the conference and exhibition will provide an effective way to learn, network and discuss investment opportunities with your colleagues from around the world.

Free Zone Tour

Delegates will also be able to enjoy a tour of the Onne Oil and Gas Free Zone – the only Free Zone in the world dedicated solely to the oil and gas industry. The tour will include visits to premises such as coating companies, subsea/wellhead clients and project/service companies.