Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2014-05-24 18:25:00

SINOPEC STARTS YADAVARAN

SINOPEC STARTS YADAVARAN

China Petroleum & Chemical Corp., or Sinopec, is pushing to start a new phase in an Iranian oil-field development, a plan Iran says it is likely to approve, according to people familiar with the project.

The push is part of a broader attempt by China and Iran to mend fences after the cancellation of a separate project.

Chinese state-owned company Sinopec is taking steps to start development activities in the second phase of the Yadavaran oil field, which is set to start next year. Delegates from Sinopec are due to travel to Tehran next month to discuss the plans, according to two people familiar with the company's Iran operations. The topics will include ordering equipment such as pipes.

Sinopec didn't return a request for comment.

In late April, Iran canceled a $2.5 billion deal with state-owned China National Petroleum Corp. following repeated delays at a giant oil-field project. The cancellation triggered speculation among Iran oil experts that privileged ties between Tehran and Beijing may be at risk.

The new phase at the Sinopec-operated Yadavaran field will boost production there by about 110,000 barrels a day from current levels—roughly equivalent to output from a small producer like Sudan, the people familiar with the operations said. The field currently produces 25,000 barrels a day—a level these people expected to double soon—but the second phase would boost output to 135,000 barrels a day, the people said.

The project—awarded to Sinopec in 2007 and reportedly worth $2 billion—is considered a priority because the Yadavaran field straddles a border with Iraq, which is already advanced in developing its side of the reservoir.

The company's progress in the field meant it was likely to keep its project, said Ali Majedi, Iran's deputy oil minister, in an interview with The Wall Street Journal. "It is quite possible we will continue with the same company for the second phase of Yadavaran. We are quite satisfied with their work," he said. Mr. Majedi said oil minister Bijan Zanganeh is set to discuss the matter during a trip he is undertaking in China.

The news comes as China imported a record volume of Iranian oil in April—just as Iran's overall oil exports declined. Chinese companies are frequently accused by Iranian oil officials of charging hefty amounts for works that tend to be delayed or suffer from operational mistakes. Even when companies keep their contracts, they come under unprecedented pressure to deliver.

wsj.com

Tags: CHINA, IRAN, OIL

Chronicle:

SINOPEC STARTS YADAVARAN
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

SINOPEC STARTS YADAVARAN
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

SINOPEC STARTS YADAVARAN
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

SINOPEC STARTS YADAVARAN
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

All Publications »