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2018-01-04 12:25:00

QATARGAS & RASGAS MERGER

QATARGAS & RASGAS MERGER

TOGYThe merger of the world's largest LNG producers, Qatargas and RasGas, is complete, and the new entity, called Qatargas, has started operations, parent company Qatar Petroleum (QP) announced on Wednesday.

Qatargas will now be in charge of Qatar's entire LNG output.

"Our aim was to integrate the two companies' resources and capabilities to create a truly unique global energy operator in terms of size, service and reliability," QP CEO Saad Al Kaabi said in a statement. "It is important to highlight that this integration will ultimately save us around QAR 2 billion [USD 548 million] in operating cost annually."

The merger, which closed on January 1, was first announced in December 2016.

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Earlier:

 QATAR - BANGLADESH LNG
2017, September, 27, 13:30:00

QATAR - BANGLADESH LNG

RasGas Company Limited sealed a landmark 15-yr LNG Sales and Purchase Agreement (SPA) with Bangladesh Oil, Gas and Mineral Corporation (Petrobangla). The agreement was signed in Doha by Mr. Hamad Mubarak Al-Muhannadi, CEO of RasGas, and Mr. Abdul Mansur Md Faizullah, Petrobangla Chairman.

 

 QATAR - TURKEY LNG
2017, September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

 

 QATAR SHOW  STRENGTH
2017, July, 5, 12:15:00

QATAR SHOW STRENGTH

Qatar mounted what appeared to be a show of strength on Tuesday, when the state-owned Qatar Petroleum announced plans to raise liquefied natural gas capacity by 30 percent. Its immediate effect will be to worsen a glut on the LNG market where Australia, the United States and Russia vie.

 

 RUSSIA - QATAR COMPETITION
2017, June, 24, 09:45:00

RUSSIA - QATAR COMPETITION

Qatar and Russia have long been rivals in global gas markets. Qatar's supplies came under the spotlight in the past month after Saudi Arabia cut economic and diplomatic ties, in a move ratcheting up a wider violent and diplomatic conflict in the Middle East.

 

 QATAR WILLING TO SPEAK
2017, June, 7, 18:00:00

QATAR WILLING TO SPEAK

"We are willing to sit and talk," Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman al-Thani told CNN late on Tuesday. He said his country was "protecting the world from potential terrorists".

 

 QATAR - JAPAN LNG TALKS
2017, May, 31, 17:35:00

QATAR - JAPAN LNG TALKS

Qatar faces rising competition from a tide of new LNG from sources including Australia, which is expected to surpass it as the world's top exporter by 2019.

QATAR'S GDP UP TO 2.7%
2017, April, 12, 18:40:00

QATAR'S GDP UP TO 2.7%

Lower hydrocarbon prices have adversely impacted macroeconomic performance. Growth has slowed despite still resilient non-hydrocarbon activity. Real GDP growth of 2.7 percent is estimated for 2016. Inflation remained low despite subsidy cuts, averaging about 2.7 percent in 2016.

Tags: QATARGAS, RASGAS, GAS, LNG

Chronicle:

QATARGAS & RASGAS MERGER
2018, January, 19, 12:15:00

S.KOREA'S DIVERSIFICATION

PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.

QATARGAS & RASGAS MERGER
2018, January, 19, 12:10:00

ADNOC'S 2030 STRATEGY

AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.

QATARGAS & RASGAS MERGER
2018, January, 19, 12:05:00

TOSHIBA SELLS WESTINGHOUSE

WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.

QATARGAS & RASGAS MERGER
2018, January, 17, 23:50:00

OIL PRICES: NOT ABOVE $70 YET

REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.

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