New base 1044 special 19 june 2017 energy news

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NewBase June 19 - 2017 - Issue No. 1044 Senior Editor Eng. Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Zakher Marine International, Quality Marine Services build
three offshore barges at cost US$350
ABU DHABI, 18th June, 2017 (WAM) -- Quality Marine Services, QMS, in conjunction with Zakher
Marine International, ZMI, both based in Abu Dhabi, announced that it took delivery of the first
offshore barge built in a shipyard in China, under the supervision of ZMI engineers and technical
staff.
In a statement, Ali El Ali, Executive Director of ZMI, said, "We have designed and built the most
sophisticated and advanced barge, as part of three new barges constructed in China at a cost of
US$350 million (AED1.2 billion). These barges are considered the most advanced in the market
today, in terms of size and technology, specifically in the MENA region.
"The barges are built to carry out a large scope of work, ranging from well services and drilling
support to construction, floated and maintenance work. They also have the highest standards of
safety and have the ability to work in various weather conditions and geographical locations.
"The first of our large fleet of barges arrived in Abu Dhabi last week, with the knowledge that these
are built to operate in stringent weather, both in the Middle East and Europe alike. They are
further considered to be one of the best (barges available in the market) in terms of design and
operation requirements, compared to others around the world," Ali said.

In a separate statement, Musadaq Al Yacoub, General Manager of ZMI, said that the barge, took
three years to build, and it includes the most modern design technology and finishing.
"This one is part of the three barges constructed by the company, with the expectation that the
second barge will be sent to the North Sea, adjacent to the Netherlands and the UK’s coasts, to
work in the construction of wind turbine fields, as well as in the working of offshore oil and gas
fields," he noted.
Al Yacoub further disclosed that the strategic direction for ZMI involves the building of a further
five barges in China. The delivery of these is expected by the end of 2018. "These are built and
designed in a new and innovative way suitable for the Middle East’s weather and operational
requirements," he added.
Captain Ron McGuire, head of the Barges Department at ZMI, said that the barge received in Abu
Dhabi, is one of the largest and the most significant in the Middle East, and it can also operate in
Europe and the North Sea. It has a detailed design, when compared to other barges in the region.
It can also work and operate in different oil fields, which helps in the reduction of cost for its
owners, he added.

YTI, GE Oil & Gas to strengthen technical skills of Saudi youth
Saudi Gazette
YANBU Technical Institute (YTI) has joined hands with GE Oil & Gas to provide comprehensive
training on a wide range of digital industrial solutions that will strengthen the skills of Saudi
technical talent for enhanced career prospects in the energy industry.
Since its inception in 1989, the
Yanbu Colleges & Institutes
have been contributing
significantly to the Saudi
technical workforce through
advanced programs. The
partnership with GE Oil & Gas,
which will leverage the global
expertise of the GE Inspection
Academy, will prepare Saudi
technical students for the next
era in digital industrial
applications that are increasingly
deployed in the energy sector.
Ed J. Boufarah, Vice President
of GE Oil & Gas Digital Solutions
– Middle East Africa, Turkey &
Pakistan, said: “The training and development of Saudi professionals and students has been a top
priority for GE Oil & Gas, which complements our long-term presence in the Kingdom of over 80
years. Today, the digital industrial era has transformed the energy industry, supporting the goals
of Saudi Vision 2030 to promote economic and industrial diversification. Through our partnership
with Yanbu Technical Institute, we are nurturing the new generation of technical professionals who
are fully equipped to meet the needs of the industry.”
Dr. Othman Zakarya Barnawi, Managing Director of Yanbu Technical Institute, said: “For nearly
three decades, we have been building the skills and talents of young Saudis, equipping them for
high quality jobs in industry. With the tremendous potential of digital solutions in industry, we
believe that it is imperative for us to train our students in these newest advances in technology.
GE is the pioneer in digital industrial solutions, and our partnership will help us to build a strong
talent pool of technical professionals who can contribute to achieving the goals of Saudi Vision
2030. This delivers on our mission of providing training that shapes the future of Saudi youth.”
As part of the agreement, GE Oil & Gas will work hand in hand with YTI to develop a state-of-the-
art curriculum of technical courses and instructor capabilities in the field of Non-Destructive
Testing. Moreover, they will also address local market expertise shortage, such as in asset
condition monitoring, industrial instrumentation and control systems. GE Digital Solutions is a
market leader in both condition monitoring and non-destructive testing.
Through the partnership, YTI will be delivering the right skillsets and expertise of local talents,
armed with cutting-edge technology and methodology, to meet the industrial requirements of
running the operation with safety, reliability and predictivity.
With Yanbu strengthening its industrial footprint and the Kingdom focusing on digital industrial
investments, the partnership will help empower Saudi nationals to develop world-class capabilities
in the oil and gas sector

Oman weighs 1,500 – 2,500 MW coal power project
Oman Observer - Conrad Prabhu –
The Sultanate’s proposed maiden foray into coal-based power generation envisions an
Independent Power Project (IPP) of a capacity ranging from 1,500 to 2,500 megawatts (MW),
according to industry experts familiar with this landmark initiative.
Oman Power and Water Procurement Company SAOC (OPWP), the sole procurer of electricity
generation and water desalination capacity, has been mandated to explore the potential for coal-
based power generation in the Sultanate. This is in response to a policy decision of the
government to study the diversification of primary fuel resources for the electricity and water
sector.
As a first step, OPWP is in the process of appointing consultants to provide advisory services
covering the financial, commercial, technical and legal aspects of developing the nation’s first ever
coal-fired IPP. The proposed venture will be executed on a Build – Own – Operate (BOO) basis,
similar to how conventional natural gas-based power schemes are currently implemented, it is
learnt.
While preliminary plans drawn up by OPWP call for the establishment of a coal-fired plant of a
capacity range of 1,500 — 2,500MW, the actual size of the proposed project still remains to be
decided. The final capacity will be determined based on the recommendations of the advisory
services team, subject to a final decision by the government to embark on coal based power
generation.
Moves towards coal-based electricity generation received a boost when Tanfeedh, the National
Programme for Enhancing Economic Diversification, recently mooted a stronger uptake of
renewable and non-renewable energy sources, notably coal and petcoke, as potential fuel
resources. Among its 120-odd proposals for accelerating economic growth in the face of the
global economic crunch is an initiative for the development of a 500MW capacity coal-fired power
plant in Duqm.
Also as part of their remit, the selected consultants will study and recommend suitable locations
for the establishment of Oman’s maiden coal fired IPP. Duqm is widely tipped to host the first such
project, given the presence of the requisite logistical and environmental underpinnings necessary
to support coal based power generation. However, in choosing potential sites, the consultants will
also need to keep in mind the cost and availability of support infrastructure, access to the existing
grid, and so on.

US: Competition between coal and natural gas affects power markets
Source: U.S. Energy Information Administration, Electric Power Monthly
In 2016, natural gas provided 34% of total electricity generation, surpassing coal to become the
leading generation source. Natural gas first exceeded coal as the most common electricity fuel on
a monthly basis in April 2015 and on an annual basis in 2016.
The increase in natural gas generation since 2005 is primarily a result of the continued cost
competitiveness of natural gas relative to coal.
Natural gas-fired capacity is widely distributed across the United States. Every state except
Vermont has at least one natural gas plant. In the past 15 years, nearly 228 gigawatts (GW) of
capacity fueled by natural gas was added, far exceeding retirements of 54 GW. Over that same
period, 20 GW of coal-fired capacity was added, while more than 53 GW was retired.
Regionally, coal remains the dominant fuel for electricity generation in the Midwest, although its
share has decreased over the past several years.
In the Northeast, electricity generation with natural gas has exceeded coal-fired generation since
February 2011. In the South, monthly natural gas generation surpassed that of coal in every
month since January 2015.

In the West, electricity generated by coal and natural gas has remained in close competition over
the past decade; however, natural gas exceeded coal in the power sector for 11 months during
2016.
The competition of coal and natural gas for electricity generation plays an important role in setting
wholesale electricity prices. The changing use of natural gas and coal in electricity generation also
has implications for the production, transport, and storage of coal and natural gas.
To better examine coal and natural gas competitiveness in the power market, the 2017 EIA
Energy Conference will include a session on coal-natural gas competition.
The topic will be explored from three perspectives: technology for coal to natural gas conversions,
impact on the electric system dispatch order, and the effect of lower coal demand on the railroad
industry. The panel will be moderated by Stan Kaplan, director of EIA’s Office of Electricity,
Renewables, and Uranium Statistics.
Speakers on this panel include:-
• Robert DiDona, Energy Ventures Analysis, Inc.
• Robin Bedilion, Electric Power Research Institute
• Jamie Heller, Hellerworx, Inc.
The 2017 EIA Energy Conference will be held June 26–27 in Washington, DC. Conference
registration is open through midday on June 22.

South Sudan Ministry of Petroleum launches open tender for
petroleum auditSource: South Sudan Ministry of Petroleum
South Sudan's Ministry of Petroleum invites companies to bid on a public tender to perform the
audit and produce a 2017 audit report on the industry
The Government of National Unity of South Sudan commits to transparency and enhanced
efficiency in its petroleum sector. Open tender announced for companies to complete a petroleum
sector audit and produce a 2017 audit report.
Tender opens immediately and closes on July 14, with winners to be announced on July 17, 2017
South Sudan's Ministry of Petroleum invites companies to bid on a public tender to perform the
audit and produce a 2017 audit report on the industry.
Objectives of the audit include completing an accurate assessment of oil, condensate and gas
reserves and production; reporting on revenue and investment flows; and making
recommendations on the technical, fiscal and regulatory issues faced by petroleum industry
actors.
The move to enhance efficiency and promote transparency in the hydrocarbons sector is viewed
by the Ministry of Petroleum as the foundation for South Sudan’s future prosperity. The successful
completion of the petroleum audit will be an important step towards EITI candidacy and
membership.
Companies are invited to bid on the open tender up to July 14, 2017.

Turkey: Condor Petroleum spuds Yakamoz-1 exploration well
Condor Petroleum
Condor Petroleum, a Canadian based oil and gas company focused on exploration and production
activities in Turkey and Kazakhstan, has commenced drilling the Yakamoz-1 exploration
well which is located 2 km north of the Company’s 100% owned and operated Poyraz Ridge gas
field in Turkey. Based on existing seismic data and well results from Poyraz Ridge, the Yakamoz
Prospect could be more highly fractured and gas rich than the reservoirs encountered at Poyraz
Ridge. The well is expected to reach its planned total depth of 2000 meters in early Q3 2017.
Poyraz Ridge development remains on track to begin gas production in Q3 2017. Construction of
the Central Processing Facility is 85% complete and commissioning activities are planned to
commence in early Q3 2017. Construction of the 6” gas sales line is ongoing, with surface right-of-
way access rights continuing in parallel with pipeline construction.
The Poyraz West-4 development well was drilled to 2164 meters with the horizontal leg
commencing at 1714 meters and penetrating the upper Gazhanedere sandstone interval. The
high wellbore placement, in conjunction with the inherently lower drawdown pressures associated
with a horizontal well, is expected to
mitigate any paraffin production as
experienced on some of the other
Poyraz Ridge wells although no
paraffin issues have been encountered
on prior tests of this upper
Gazhanedere interval. The Poyraz
West-4 well is expected to have higher
deliverability than prior vertical wells
and will be completed and tied into the
processing facilities once the
Yakamoz-1 well has been evaluated.
Paraffin mitigating equipment was
installed at the Poyraz-3 well and
successfully prevented blockage in the
tubing string although sustained commercial gas flow rates from this well were not realized. Next
steps are being reviewed, although this well was only expected to contribute 300 mscf/day and
has a negligible impact on the overall field production rates.

India: BP and Reliance to develop the ‘R-Series’ deep water gas
fields off the east coast of India
Source: BP
Reliance Industries Limited (RIL) and BP have announced
that they are moving forward to develop already-discovered
deepwater gas fields, bringing new gas production for India.
The two companies have agreed to deepen and expand
their partnership to work jointly across a wide range of areas
throughout India’s energy sector.
‘R-Series’ deep water gas fields
RIL and BP announced that they will award contracts to
progress development of the ‘R-Series’ deep water gas fields in Block KGD6 off the east coast of
India. The R-series (D34) project is a dry gas development in water-depths of more than 2,000
metres, approx. 70 kms offshore. The R-series fields will be developed as a subsea tieback to the
existing control and riser platform off Block KGD6. The project is expected to produce up to 12
million cubic metres (425 million cubic feet) of gas a day, coming on stream in 2020.
This is the first of three planned projects in Block
KGD6 that are expected to be developed in an
integrated manner, producing from about 3 trillion
cubic feet of discovered gas resources. RIL and BP
plan to submit development plans for the next two
projects for Government approval before the end of
2017. Development of the three projects, with total
investment of c. INR 40,000 crore (US$6 billion), is
expected to bring a total c. 30-35 million cubic metres
(1 billion cubic feet) of gas a day new domestic gas production onstream, phased over 2020-2022.
• To develop ‘R-Series’ deepwater gas fields in India as first of three projects; c.12 mmscmd
(~425mmscfd) new production expected from 2020
• To expand partnership downstream and in other areas including differentiated fuels,
mobility and advanced low carbon energy solutions
Mukesh Ambani, Chairman and Managing Director of RIL, said:
“We are delighted to progress these developments, which will provide India with much needed
indigenous energy and support the Prime Minister’s call for import substitution and the
development of a gas-based economy. The solid relationship between our two companies is a
great example of what can be achieved while working together at scale.”
Speaking in New Delhi today, Bob Dudley, BP Group Chief Executive, welcomed the investment:
“This is an important step forward for BP in India. Working closely together, Reliance and BP are
now able to develop these major deep water gas resources offshore India efficiently and
economically. It is testament to our commitment to working in partnership with Reliance and with
the Government to produce more energy in India, for India”.
India today consumes over 5 billion cubic feet a day of natural gas and aspires to double gas
consumption by 2022. Gas production from the integrated development is expected to help reduce

India’s import dependence and amount to over 10% of the country’s projected gas demand in
2022; benefiting India and domestic consumers at large.
Execution of the R-Series and following
projects will require deployment of
advanced skills, processes and
technologies through the combined
partnership of RIL and BP to develop and
produce gas from these ultra-deep
reservoirs.
The implementation of other two projects in
Block KGD6 is subject to applicable
regulatory and Government approvals.
Expanding partnership
RIL and BP will expand their existing
partnership for strategic cooperation on new
opportunities across India’s energy sector.
Under the agreement the two companies will jointly explore options to develop differentiated fuels,
mobility and advanced low carbon energy businesses in India, as India transitions to a low-carbon
world.
The companies expect to collaborate, in addition to the conventional transportation and aviation
fuels retailing, on unconventional mobility solutions, addressing electrification, digitization and
disruptive mobility trends. Together, these collaborations will seek to address the mobility needs of
urban, rural/farm, industrial/commercial, and highway consumers in India, applying the leading
capabilities of both partners.
Mukesh Ambani commented:
'This strategic partnership not only strengthens the relationship between two global energy
leaders, but is also in line with and supports the forward-looking policies and vision of the
Government of India.'
Bob Dudley added:
'India’s demand for both energy and mobility is growing and evolving rapidly. This presents many
opportunities for BP and Reliance to build on our existing strong relationship in upstream and
expand our partnership further downstream. Combining skills and experience from both our
companies, we expect to cooperate on mobility and advanced low carbon solutions and jointly
explore other opportunities throughout India’s energy sector.
India is a rapidly growing market with a population of 1.3 billion people, consuming around 4
million barrels a day of oil products and with demand for fuels expected to grow by 5-7% per year
over the next decade. BP and RIL are committed to being one of India’s preferred energy partners
now and in the future.'
Background
In an historic partnership with RIL in 2011, BP took a 30% stake in multiple oil and gas blocks in
India operated by RIL, including the producing Block KGD6. Block KGD6 participating interests
are 60% RIL (operator), 30% BP and 10% NIKO.

NewBase 19 June 2017 Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE
Oil prices fall on further rise in US drilling, signs of slowing demand
Reuters
Oil prices fell early on Monday, weighed down by high supplies despite an OPEC-led initiative to
cut production to tighten the market. Signs of faltering demand stoked weak sentiment, prompting
price levels comparable to when the output cuts were first announced late last year.
Brent crude futures were down 11 cents, or 0.23 percent, at $47.26 per barrel at 0035 GMT. U.S.
West Texas Intermediate (WTI) crude futures were down 11 cents, or 0.25 percent, at $44.63 per
barrel.
Prices for both benchmarks are down by almost 13 percent since late May,when producers led by
the Organization of the Petroleum Exporting Countries (OPEC) extended their pledge to cut
production by 1.8 million barrels per day (bpd) by an extra nine months until the end of the first
quarter of 2018.
Traders said that the main factor driving the low prices was a steady rise in U.S. production
undermining the OPEC-led effort to tighten the market. "The U.S. oil rig count continued to rise, up
by 6 last week ... Since its trough on
May 27, 2016,producers have added
431 oil rigs," Goldman Sachs said
late on Friday.
The U.S. bank said that if the rig
count stayed at current levels, U.S.
oil production would increase by
770,000 barrels per day between the
fourth quarter of last year and the
same quarter this year in the shale oil
Oil price special
coverage

fields of the Permian, Eagle Ford, Bakken and Niobrara.
Supplies from within OPEC and other countries officially participating in the cuts, like Russia, also
remain high as some countries have not fully complied with their pledges. There are also
indicators that demand growth in Asia, the world's biggest oil consuming region, is stalling.
Japan's customs-cleared crude oil imports fell 13.5 percent in May from the same month a year
earlier, to 2.83 million barrels per day, the Ministry of Finance said on Monday.
India, which recently overtook Japan as Asia's second biggest oil importer,saw May's demand for
oil fall by 4.2 percent in May, compared with the same month last year.
In China, which is challenging the United States as the world's biggest importer, oil demand
growth has been slowing for some time, albeit from record levels, and analysts expect growth to
slow further in coming months.
"Reducing the glut of oil will be challenging," ANZ bank said on Monday.

Oil Posts Longest Run of Weekly Losses Since 2015 Amid Glut
Oil posted the longest run of weekly losses since August 2015 as OPEC member Libya restored
production and the surplus in the U.S. shows little sign of abating.
The most important business stories of the day.
While futures rose 0.6 percent in New York, they’re down 2.4 percent for the week, a fourth
straight decline. U.S. inventories fell less than forecast last week, keeping supplies more than 100
million barrels above the five-year average, according to data from the Energy Information
Administration on Wednesday. Libya, exempt from the OPEC-led deal to cut supply, will boost
output to 1 million barrels a day by the end of July, according to the country’s National Oil Co.
Oil slumped to the lowest close in seven months this week as concerns grew that rising U.S.
supplies will offset the production curbs by the Organization of Petroleum Exporting Countries and
allies including Russia. New non-OPEC output next year will be more than enough to
meet demand growth, the International Energy Agency said Wednesday in its first forecast for
2018.
Current prices reflect fundamentals, said Bill O’Grady, chief market strategist at Confluence
Investment Management in St. Louis.
"Inventory levels remain stubbornly high," he said. "The reality is, the things that have caused this
trading range remain in place. Nothing’s changed."
West Texas Intermediate for July delivery settled at $44.74 a barrel on the New York Mercantile
Exchange. The contract lost 27 cents to $44.46 on Thursday, the lowest since Nov. 14.
Brent for August settlement rose 45 cents to settle at $47.37 a barrel on the London-based ICE
Futures Europe exchange. Prices are down 1.6 percent this week. The global benchmark crude
traded at a premium of $2.40 to August WTI.

“There is really no bullish twist to the latest U.S. data,” said Michael Dei-Michei, head of research
at Vienna-based consultants JBC Energy GmbH. “Implied crude production seems to have moved
upwards at a rather rapid pace, U.S. gasoline demand has taken a turn to the downside just as
the summer driving season starts, and total U.S. oil stocks have not drawn for two weeks.”
Libyan output will reach 900,000 barrels a day within days, National Oil Co. said on its website,
citing Chairman Mustafa Sanalla. OPEC production jumped last month as Libya and Nigeria
revived supply halted by attacks and political crises, a report from the group showed on Tuesday.
As if a mini-collapse in oil prices wasn’t bad enough for OPEC, the pattern in which futures
contracts are trading years from now has flipped into the worst possible structure for the exporter
group.
Brent and West Texas Intermediate crudes, down almost 15 percent since late May, are both
trading in contango, where forward prices get higher all the way into the next decade. While it’s a
structure that normally denotes weak demand for spot cargoes, the price pattern could also be
bad news for the Organization of Petroleum Exporting Countries as it can sometimes tempt
producers outside the group to lock in output for future years.
Saudi Arabia is among nations that have been saying for months that a re-balancing is under way
in the oil market after OPEC and other producing nations agreed late last year to cut production.
That view was undermined in recent weeks by data showing that combined stockpiles of crude
and fuels in the U.S., still the biggest consumer, swelled by 22 million barrels. The International
Energy Agency in Paris suggested Wednesday that there’s little sign 2018 will be much better.
“It’s not good news for OPEC,” said Warren Patterson, commodity strategist at ING
Bank NV. “Nothing this week has been particularly bullish. Non-OPEC supply is going
to be stronger than demand growth, suggesting OPEC are possibly going to have to
make even more cuts or extend them.”

NewBase Special Coverage
News Agencies News Release 19 June 2017
In USA Turning Pipeline Masters Into Puppets
By Liam Denning
Master limited partnerships -- tax-advantaged entities that mostly own and operate energy
infrastructure like pipelines (see this) -- have been having a tough time lately. After treading water
for almost four months, the Alerian MLP Index has slumped by 10 percent since the end of April.
MLP stocks have started moving more closely in line with oil prices again
More troubling is that chart above, showing the sector's linkage to oil prices has strengthened
again. It brings back uncomfortable memories of the prior two years, when MLPs, so often touted
as insulated from oil-price swings, were swept up in the broader crash.
The prior boom had led many companies to expand into more-exposed businesses, such as
gathering and processing, and load up on debt. Dividends were slashed, giant M&A deals
unraveled, and, in one case, investors were just plain thrown under the bus. Meanwhile, many of
their clients, the exploration and production companies, looked destined for Chapter 11. Relieved
of their rosy assumptions, investors dumped MLPs along with anything else vaguely smelling of
oil.
Things began to stabilize in 2016. Oil prices bottomed out, the wave of E&P bankruptcies turned
out to be more of a ripple than a tsunami and rigs went back to work. Dividend cuts, after the initial
shock, helped to repair balance sheets: Over the past four quarters, aggregate net-debt-to-Ebitda
for the Alerian's members dropped from 6.9 times to 5.2 times, according to data compiled by

Bloomberg. And then, the November twofer of the election of President Donald "infrastructure"
Trump and OPEC's supply-cut deal really got everyone pumped.
November's fireworks have fizzled. Still, the rig count has kept on climbing and oil production is
surging back, which should mean more barrels going through pipes (along with natural gas and
natural gas liquids) and, therefore, more profits to pay MLP distributions.
So what gives?
One problem is timing, says Hinds Howard, a portfolio manager focused on MLPs at CBRE
Clarion Securities. While U.S. oil production is clearly on the rebound, it is weighted more to the
second half of the year:
The Best Is Yet To Come
U.S. liquids output has been rising since late 2016 but the biggest gains are forecast to happen
after the summer
Note: Data from 2Q2017 onward are projections.
The point being that, after the experience of the past two years, investors are likely waiting to see
if that growth actually materializes before they go all-in. Meanwhile, companies such as Kinder
Morgan Inc. and Targa Resources Corp. have been tapping investors for cash. Equity issuance by
U.S. pipeline companies hit its highest level in the first quarter since the early stages of the crash.
Too soon?
Refilling The Pipe
Pipeline operators resumed selling new equity in the first quarter, taking advantage of the
recovery in valuations

In fact, this show-me story is evident across the entire energy sector. Tudor, Pickering, Holt & Co.,
an energy-focused investment bank, noted early last month that its investor survey, "Energy
Pulse", was barely registering a pulse in terms of responses. The whole industry is a turn-off:
Downer
The sell-off in energy stocks has been broad-based over the past three months, with all sectors
lagging even the falling oil price
Note. Performance indexed to 100. "Permian E&P index" is a market-cap weighted index of 13
E&P companies with operations focused in the Permian shale basin.
The fact that even the darlings of the Permian shale basin have sold off is particularly troubling.
With OPEC's spell having worn off amid forecasts suggesting the oil glut may not
drain meaningfully through 2018, it sets up an anxious summer. Those second-half projections for
higher oil production depend on E&P companies maintaining their growth plans. The recent drop

in prices may not prompt revisions to budgets during second-quarter earnings season, which kicks
off within a month or so. But if it goes on and, importantly, keeps 2018 futures below the magic
number of $50 a barrel, drillers may start to ease up.
While that would tend to set up higher oil prices as drilling eventually slowed, those supplies would
be coming out of U.S. pipes -- providing investors with another reason to stay away from MLPs.
Such is the outcome of U.S. oil production taking the lead in terms of setting prices.
Continued listlessness, with stocks simply washing up an down on the range-bound tide of oil,
might yet prompt a sector that could use some consolidation to get down to it. Absent that, it's
hard to see how the sector wrests back the initiative for itself.
This column does not necessarily reflect the opinion of Bloomberg LP and its owners.
NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
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Khaled Malallah Al Awadi,
Energy Consultant
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME member since 1995
Hawk Energy member 2010
Mobile: +97150-4822502
khdmohd@hawkenergy.net
khdmohd@hotmail.com
Khaled Al Awadi is a UAE National with a total of 25 years of experience in
the Oil & Gas sector. Currently working as Technical Affairs Specialist for
Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy
consultation for the GCC area via Hawk Energy Service as a UAE
operations base , Most of the experience were spent as the Gas Operations
Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility &
gas compressor stations . Through the years, he has developed great
experiences in the designing & constructing of gas pipelines, gas metering &
regulating stations and in the engineering of supply routes. Many years were spent drafting, &
compiling gas transportation, operation & maintenance agreements along with many MOUs for the
local authorities. He has become a reference for many of the Oil & Gas Conferences held in the
UAE and Energy program broadcasted internationally, via GCC leading satellite Channels.
NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE
NewBase June 2017 K. Al Awadi

Solar power is the key to renewable development in the GCC. Installed solar capacity is expected
to reach 76 GW by 2020, representing massive opportunity for suppliers in the region.
Co-located with The Big 5 Dubai, The Big 5 Solar launches this November 26 - 29th 2017. 20% of The Big 5
visitors in 2016 were looking for solar technologies making The Big 5 Solar an ideal platform to meet
dedicated buyers, get inspired at the Global Solar Leader's Summit and open up to new markets.

New base 1044 special 19 june 2017 energy news

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