SAIPEM WINS $ 750 M
Saipem has been awarded the contract to $ 750 million for the construction of the lining of two offshore platforms and other subsea structures in the Caspian Sea, confirming the rumors this morning.
Shah Deniz is thus assigned to the consortium composed of Bos Shelf LLC, Saipem Contracting Netherlands BV and Star Fzco Gulf, the contract in Azerbaijan, which is part of a framework agreement for the manufacture, transportation and installation of offshore installations coatings, pipelines and subsea structures within the project Shah Deniz Stage 2. thus continues the good momentum of orders for Saipem, in mid-March after the award of the contract by € 2 billion for the drafting of the first line of the South Stream and the rumors of the last few days of the possible award of the contract to Jizan, Saudi Arabia, from $ 3 billion and that of Lula in Brazil for $ 690 million.
Even the China National Offshore Oil Corporation (CNOOC) would be willing to offer to the market a the design for the potential construction of two platforms in the South China Sea and, increasingly secondole latest rumors, Saipem could be affected.
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BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.
PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.
FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn.
U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.