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

Hello. This site is free without ads. You can make a donation and support the development of this site. Thank you.

2014-08-26 18:05:00



Saudi Aramco has announced plans to invest $40 billion a year over the next decade to keep oil production capacity steady and double gas production.

President and CEO of the world's largest oil producer, Khalid Al Falih, said the company expected an increase in capital for offshore projects, according to Arab News.

Speaking at a conference in Stavanger, Norway, Al Falih said rising costs across the sector would underpin oil prices, which fell to a 14-month low of $101.07 last week as global demand growth weakened despite an increase in production in several locations creating an oil glut.

"To meet forecast demand growth and offset [global output] decline, our industry will need to add close to 40 million barrels per day of new capacity in the next two decades," Al Falih said."Although our investments will span the value chain, the bulk will be in upstream, and increasingly from offshore, with the aim of maintaining our maximum sustained oil production capacity at 12 million barrels per day, while also doubling our gas production."

He warned that rising costs and global turmoil could lead to a lack of oil supplies in the future if companies did not make sufficient investments.

"We must put our money where our mouth is by making prudent and timely investments, balancing long-term objectives and short-term interests and meeting the energy needs of the future, while providing attractive investment options and delivering value to shareholders," Al Falih said.

"At Saudi Aramco, as we solidify our upstream leadership while also diversifying our business portfolio, our investments will exceed $40 billion a year during the next decade.

"Although our investments will span the value chain, the bulk will be in upstream, and increasingly from offshore, with the aim of maintaining our maximum sustained oil production capacity at 12 million bpd [barrels per day], while also doubling our gas production.

"This will ensure that we efficiently meet the kingdom's rising energy demand with gas for power and industry and refined products for transport, while also meeting the global call on our crude oil."

However, he said costs were soaring.

"At Saudi Aramco, project costs have roughly doubled over the last decade despite deploying cutting-edge technologies and applying our robust project management systems to mitigate cost escalation," Al Falih said.

"These project challenges are driven in part by shortages and bottlenecks in our supply chain, including drilling contractors, shipyards, EPC firms, and materials and equipment suppliers, which have led to growing quality, schedule and cost pressures."

Al Falih said fundamental problems within the industry, including rising costs, increasing technical challenges and the falling size of reserves at new locations would determine the price of oil, and the Organization of the Petroleum Exporting Countries (OPEC) or the International Energy Agency (IEA) should not interfere in the market.

"I share ... the belief that this is a market driven business, it's not OPEC, the IEA and consumers that should be in the business of trying to control the market," he said.

"OPEC will take the price as it comes.

"To tap these increasingly expensive oil resources, oil prices will need to be healthy enough to attract needed investments ... [and] long-term prices will be underpinned by more expensive marginal barrels."

Al Falih said the industry also was experiencing critical shortage of skilled workers.

"Finding and attracting competent engineers, rig personnel and geoscientists to run ever more complex and expensive operations has become an acute challenge," he said.




November, 24, 09:15:00


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.

November, 24, 09:10:00


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.

November, 24, 09:05:00


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. 

November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

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.

All Publications »
Exchange Rates
Date: 00:00 00:00
USD 0.00 0.00
EUR 0.00 0.00
GBP 0.00 0.00
UAH 0.00 0.00
ADR bid ask
GAZPROM 0.000.00
LUKOIL 0.00 0.00
ROSNEFT 0.00 0.00
TATNEFT0.00 0.00