SlideShare a Scribd company logo
1 of 16
Download to read offline
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 1
NewBase 03 May 2015 - Issue No. 595 Khaled Al Awadi
NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
GCC rail, road & maritime projects worth
$422 billion
Saudi Gazette + NewBase
The GCC’s integrated transport strategy will be the focus of NATRANS Arabia 2015, a first-of-its-
kind event piecing together the Gulf region’s transportation infrastructure with rail, road, and
maritime projects, which according to Fleming Gulf research, is worth an estimated $422 billion
and completed within the next five years.
The conference-led exhibition
which is being held in
partnership with the UAE Federal
Transportation Authority – Land
and Maritime and held under the
patronage of Dr. Abdulla Belhaif
Al Nuaimi, Minister of Public
Works and Chairman of the
Federal Transport Authority -
Land and Marine, will highlight
the UAE’s position within the
region as a leading state in
transport infrastructure
development.
“The event will discuss and
showcase proven, deployed
schemes, pioneering research
and development solutions that
are intended to solve real world
problems which are critical
regional imperatives,” said Alex
Heuff, Exhibition Director,
NATRANS Arabia which takes
place at the Abu Dhabi National Exhibition Centre (ADNEC) on Oct. 19-21, 2015.
“By creating an event which covers the industry as a whole, NATRANS Arabia is set to deliver a
unique networking platform for the region’s entire land and maritime transportation sector,” added
Heuff.
NATRANS Arabia consists of three distinct conference streams, incorporating the regions
established rail conference – the 6th Middle East Rail Opportunities on Oct. 19- 20 plus two
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 2
dedicated one-day conferences, firstly addressing road issues on Oct. 19 and secondly
addressing maritime issues on Oct. 20.
During the 6th Middle East Rail Opportunities Summit, designs of nearly $200 billion in network
projects will be presented, running from the Gulf coast from Kuwait, through Saudi Arabia, to the
UAE and Oman, with branches linking Bahrain and Qatar. These projects will be completed before
the end of the first quarter 2016.
“Construction is already in progress and will be fully operational in 2018. Abu Dhabi is
spearheading the GCC rail network with its AED40 billion ($10.9 billion), Etihad Rail link project,
which stretches for 1,200 kilometers, from Ghweifat on the Saudi border to south of Fujairah on
the Omani border,” said Heuff.
The Middle East Road Conference will examine the progress of the region’s mega road project
which is set to grow at a rapid pace over the next 5 years, valued at an estimated $32 billion.
The conference will also cover the international traffic management, (ITS), parking, road safety &
maintenance of and transport infrastructure projects, such as multimodal systems and
management have helped decrease accidents and the use of ITS technology in road safety.
The third streamed seminar, Middle East Maritime Conference, will take an in-depth look at the
different investments in the maritime industry, which are expected to reach $66 billion in the next
three years, with the UAE contributing 30-35% of the Middle East’s projected total investment
valued at $190 billion over the next three years.
With the global significance of the Middle East’s ports and facilities is now more important than
ever before and delegates will be presented with the latest industry developments. The
conference will also feature international case studies about how operational and logistical
challenges and complexities can be overcome.
Speakers at NATRANS Arabia include Dr. Abdelgader Elshabani, Department of Transport, Abu
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 3
Dhabi, Senior Transportation Planning Specialist, UAE; Mohammed Al-Mudharreb, Roads &
Transport Authority (RTA), Director of Rail Operation, Rail Agency; and Loay Ghazaleh, Ministry
of Works, Advisor to Undersecretary of the Ministry of Works, Bahrain.
“In addition, over 50 ministers and including key government decision makers will be attending this
year’s conference to discuss the potential partnership opportunities available right across the
region,” added Heuff.
Some of the key focus sessions include developing a competitive, sustainable and future-proof rail
network for the GCC; effective interoperability among the new railway systems of the Middle East;
integrated public transport for sustainable urban development; traffic management and
surveillance; the role of automation in efficient port operations; the use of geo-spatial technologies
in port security, plus a series of country transport project updates.
Running alongside the conferences is an exhibition accommodating over 100 exhibiting
companies that is divided into four themed zones compatible with the conference streams, plus an
extra zone showcasing intelligent transport systems.
The exhibition is likely to attract in excess of 2,500 trade visitors. The exhibition has already
attracted key support from the European Parking Association (EPA) and MAFEX, the Spanish
Railway Association plus sponsors Laborex and LGW.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 4
DEWA reviews bids for first phase of Hassyan clean-coal power plant
after receiving lowest international tariff ( WAM +NewBase)
Dubai Electricity and Water Authority (DEWA) has opened the bids it has received for the first
phase of the Hassyan clean-coal power plant, which is based on the Independent Power Producer
(IPP) model.
The first phase of the 1,200MW project
is expected to be operational by 2020.
Four global bidders have been
shortlisted after opening the bids. They
will be evaluated and the best bid will be
selected based on the criteria developed
by the advisory committee that oversees
the project.
DEWA previously extended the bid
deadline for the first phase of the IPP
Hassyan clean-coal power plant to
accommodate requests from
developers. The deadline was extended
to 30 April 2015. The lowest price among the bids that DEWA received is US$4.9 cents/kWh.
"The Hassyan Clean Coal Power Project reflects our commitment to the vision of His Vice
President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al
Maktoum, to diversify the energy mix.
It also reflects our commitment to our goals to energy diversification and sustainability of
resources, and achieving the Dubai Integrated Energy Strategy 2030, which focuses on producing
electricity from clean coal as part of Dubai's energy mix," said HE Saeed Mohammed Al Tayer,
MD and CEO of DEWA.
Al Tayer noted that this is a major step in implementing the energy diversification strategy
approved by the Dubai Supreme Council of Energy, which focuses on producing electricity from
clean coal as part of Dubai's energy portfolio.
He noted that the Hassyan power plant uses ultra-supercritical technology to produce energy
according to the highest international standards set by the European Union. Last year, DEWA
awarded the consultancy service contract for the first phase of the IPP project to an international
consultant.
Al Tayer expressed his satisfaction with the wide interest in the project from international
developers. He noted that the wide international participation in this vital field reflects the trust and
interest of international investors to invest in large projects supported by the Government of
Dubai.
Al Tayer noted that DEWA is working to diversify its energy sources and increase its share of
renewable energy. He explained that the Dubai Integrated Energy Strategy 2030 initially set the
percentage of renewable energy in Dubai’s energy mix to be 1% by 2020 and 5% by 2030 but
DEWA has increased this target to 7 % by 2020 and 15 % by 2030. The Dubai Integrated Energy
Strategy 2030 diversifies Dubai’s energy mix to include 71% from gas, 7% from clean coal, and
7% from nuclear power.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 5
India: ONGC Makes Two Oil, Gas Discoveries Offshore
Natural Gas Asia + NewBase
Indian state owned energy firm ONGC has made two significant oil and gas discoveries off India’s
east coast. The first discovery is in deep water NELP-I block KG-DWN-98/2, KG-PG Basin in the
east coast of Andhra Pradesh state at the
well KG-DWN-98/2-M-4.
The well was drilled down to a depth of
3,246m. “Based on the subsurface
geological, MDT / Mini DST and electro-log
data, six hydrocarbon bearing zones with
net pay of 78m have been established in
this well. Object in the interval 2,900-
2,908m tested conventionally flowed oil at
a rate of about 3,160 BOPD and gas at a
rate of about 319,483 m3
/day,” ONGC said
in a statement Wednesday.
The discovery has enhanced the value of
the block KG-DWN-98/2 and has opened
up further area for exploration and
appraisal, the company added. The second
discovery was in shallow water NELP-VI
block KG-OSN-2004/1, KG-PG Basin. The
well was drilled down to a depth of 2,555m
in water depth of 69m. On conventional
testing flowed gas at a rate of about
209,405 m3/day through 24/64” choke,
ONGC announced.
NDA holds an estimated 92.30 million
tons of oil reserves and 97.568 billion
cubic meters of inplace gas reserves
spread over seven fields. Verma said
ONGC has submitted to the Directorate
General of Hydrocarbons (DGH) a
Declaration of Commerciality (DoC) for
the oil find in the NDA and a detailed field
development plan will be submitted within
a year. ONGC bought 90 per cent interest
in Block KG-DWN-98/2 from Cairn
Energy India in 2005.
Cairn still holds 10 per cent in the block. Before selling most of its stake and giving away
operatorship of the block, Cairn made four discoveries in the area - Padmavati, Kanakdurga, N-
1 andR-1 (Annapurna). Subsequently, ONGC made six significant discoveries - E-1, A1, U1,
W1, D-1 and KT-1 in NDA and the first ultra-deepwater discovery UD-1 at a record depth of
2,841 metres. The NDA comprises discoveries like Padmawati, Kanadurga, D, E, U, A, while the
ultra deepsea UD find lies in SDA.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 6
Kenya: Africa Oil announces Kenya operations update
Source: Africa Oil
Africa Oil has provided an update on its appraisal program in the South Lokichar Basin, Kenya.
In Kenya, the extensive appraisal program in the South Lokichar Basin continues. The Amosing-
1 and Amosing-2 wells have been completed in five zones with hydraulically controlled
completions that permit independent tests of selected intervals without well intervention in
preparation for an Extended Well Test (EWT) of the field.
Initial rig-less flow testing during clean-up at a combined maximum rate of 5,600 and 6,000 bopd
respectively exceeded expectations, demonstrating high quality reservoir sands which flowed 31
to 38 degree API dry oil under natural conditions.
The EWT involves production and water injection testing to enable dynamic flow characterisation
between wells in the Amosing stacked oil reservoirs. The full EWT will commence shortly and
results are expected over the next few months. The Amosing-4 appraisal well was drilled on
the flank of the field and successfully encountered 27 metres of net oil pay in thick upper
reservoir zones proving the significant down-dip extent of the field.
Elsewhere in the Lokichar basin, the Ekales-2 appraisal well reached a total depth of 4,059
metres and encountered an estimated 60-100 metres of net oil pay in the primary shallower
objectives.
This highly deviated well was also deepened to test the basin centre stratigraphic play where it
intersected sandstones with elevated pressures and 50 metres of oil bearing sands, however
operating conditions precluded logging and confirmation of any oil pay in this section. This was
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 7
the first test of this exploration target and is very positive for the future upside potential of the
South Lokichar basin above the significant oil resources already discovered.
The Ngamia-7 appraisal well was drilled to test the Ngamia oil field's eastern flank and
encountered up to 130 metres of net oil pay, expanding the proven extent of the field.
The Ngamia-8 appraisal was drilled and encountered up to 200 metres of net oil pay in line with
pre-drill expectations.
The well was positioned in the centre of the Ngamia structure and static pressure data indicates
the well is in pressure communication with the oil discovered in the neighbouring Ngamia-1A,
Ngamia-3, Ngamia-5, Ngamia-6 and Ngamia-7 wells. Ngamia-8 will be completed as part of the
Ngamia field EWT planned for mid-year which will also include the Ngamia-3 andNgamia-
6 wells.
The extensive appraisal activities in Kenya, including the planned EWT, along with the
development concept studies completed in 2014 will enable a draft Field Development Plan
(FDP) to be prepared by end 2015.
The current ambition of the joint
venture partnership is to position
the East Africa project, which will
include the development of South
Lokichar and Tullow's Lake Albert
resources and an export pipeline, for
possible sanction by the end of 2016,
subject to receipt of all necessary
permits and approvals.
Good progress continues to be made
towards development of these oil
resources and as part of the ongoing
collaboration between the
Governments of Kenya and Uganda
on the oil export pipeline, a joint
technical adviser was appointed in
late 2014. The independent technical
studies being undertaken by the
adviser, with extensive support from
the Kenya and Uganda upstream
partners, are progressing rapidly and
should assist in the finalisation of the
pipeline route.
Africa Oil owns a 50% working interest in Kenya Blocks 1BB and 13T with Operator Tullow
Oil holding the remaining 50%.
Keith Hill, President and CEO, commented, 'We continue to be highly encouraged by the
appraisal program in the Lokichar Basin which is above our expectations and confirms our belief
that this is a world-class asset. We are working closely with our partners and the Kenyan
Government to move the development project forward, particularly the export pipeline, which is
the key to unlocking the value of this asset. The 3D seismic has been a great help in imaging
new drilling targets in the basin and we plan to drill some high impact wells with the potential to
add significant resources in the coming months.'
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 8
Oil Price Drop Special Coverage
Oil prices eased off 2015 highs on Friday
Reuters + NewBase
June Brent was down 86 cents at $65.92 barrel at 11:37 a.m. EDT (1537 GMT), after matching
Thursday's 2015 peak of $66.93 and jumping 21 per cent in April. US crude for June delivery was
down 84 cents at $58.79, after hitting a 2015 high of $59.90. US crude futures gained 25 per cent
last month.
Brent and US crude rallied between 20 and 25 per cent in April, helped by a weaker dollar and
bets that a global supply glut would ease, following the June-to-January sell-off that halved prices
from above $100 a barrel.
News that Iraq's oil exports rose in April to a record 3.08 million barrels per day (bpd) from 2.98
million bpd in March served as a reminder of ample supply in the market. Iraq's data highlights
increasing output from OPEC members, whose supply in April rose to its highest in more than two
years at 31.04 million bpd, according to a Reuters survey.
Despite a sharp drop in new US shale drilling in recent months, there have been few signs that a
global supply glut is easing, and there are some signs that US oil production may not fall
significantly in the near future.
A fresh snapshot of US drilling activity is due from services firm Baker Hughes Inc later on Friday,
after last week's report showed companies idled 31 oil rigs. "Any evidence of a slowed rate of
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 9
decline such as a drop of less than 15-20 could spur some selling," said Jim Ritterbusch,
president at Ritterbusch & Associates.
"On the flip side, a drop of more than 30-35 will likely force some new highs," Ritterbusch said.
Futures and options trades suggest U.S shale producers are locking in production costs for next
year, which could pave the way for a rebound in production.
Opec output unchanged as Saudis show no letup
BY BLOOMBERG NEWS + NewBase
Opec oil production was little changed in April near the highest level since November 2012 as
Saudi Arabia pumped 10 million barrels a day. Production by the Organisation of Petroleum
Exporting Countries (Opec) slipped 1,000 barrels to 31.295 million a day, according to a
Bloomberg survey of oil companies, producers and analysts.
March's total was revised 267,000 barrels higher to 31.296 million a day, mostly because of a
change to the Saudi estimate. Prices tumbled the first quarter of this year as US output surged to
the highest level in more than four decades and Opec members pumped more barrels.
The 12-member group left its production quota unchanged at a November meeting, prompting
speculation that it would let crude slide low enough to curb shale development in the US. "The
high Saudi number is what sticks out," Julius Walker, senior consultant at JBC Energy in Vienna,
said on Thursday by phone.
"The consensus view is that the Saudis are going to continue with their present policy. The market
continues to be substantially oversupplied."
Trimmed output
Saudi Arabia, Opec's top producer, trimmed output by 100,000 barrels a day to 10 million in April.
March output was revised 330,000 barrels a day higher to 10.1 million. The country sold oil at a
higher-than-projected rate in March as a result of the biggest discounts in at least 15 years.
The oil market is in "excellent" condition, Prince Abdulaziz bin Salman, Saudi Arabia's deputy oil
minister, said on Monday. Oil Minister Ali Al Naimi stressed earlier this month that the kingdom
won't yield market share to higher-cost producers.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 10
America’s Oil Drillers Idle Rigs for 21st Straight Week
Bloomberg + NewBase
Oil explorers idled rigs in U.S. fields for the 21st straight week, extending an unprecedented
retreat in drilling that has curbed domestic output and helped crude prices rally.
Rigs targeting oil in the U.S. declined by 24 to 679, Baker Hughes Inc. said on its website Friday,
the lowest level since September 2010. Texas’s Eagle Ford formation lost the most, dropping
seven to 91, the Houston-based field services company said. The Williston Basin, home of North
Dakota’s prolific Bakken shale, added a rig for the first time in five months.
U.S. energy producers have sidelined more than half of the country’s oil rigs since October,
suspending production growth from the nation’s shale formations and helping end the rout in West
Texas Intermediate oil prices that began last year. Crude output has fallen three out of the last five
weeks. WTI futures capped their biggest monthly advance since 2009.
“If you continue to see these rig counts decline and wells not being completed, you could be losing
something like 70,000 to 100,000 barrels a day every month by the end of this year,” Scott
Treadwell, a TD Securities Inc. research analyst, said during a conference in Calgary. “That will
put a floor on WTI very quickly and the discussion when we’re short of production won’t be about
storage volumes getting full. It will be about storage volumes getting emptied.”
The U.S. benchmark West Texas Intermediate oil for June delivery dropped 48 cents to settle at
$59.15 a barrel on the New York Mercantile Exchange. Prices advanced 25 percent in April, the
biggest monthly gain since May 2009.
Slipping Output
Domestic oil production averaged 9.37 million barrels a day in the week ended April 24, down
from the record 9.42 million reached in March, U.S. Energy Information Administration data show.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 11
Stockpiles at Cushing, Oklahoma, the biggest U.S. storage hub, shrank for the first time since
November.
“In our view, there is no doubt that U.S. output is falling, and that the pace of decline is likely to
accelerate in coming months,” Standard Chartered Plc analysts including Nicholas Snowdon, said
in a research note April 27.
The number of oil rigs drilling in U.S. shale plays would have to rise by 200 just to stabilize output,
Snowdon said. “This is unlikely to happen this year,” he said.
U.S. oil drilling is subsiding as the Organization of Petroleum Exporting Countries, which accounts
for about 40 percent of the world’s oil, resists calls to curb output. OPEC members pumped
31.295 million a day in April, near the highest level since November 2012, according to a
Bloomberg survey of oil companies, producers and analysts.
Production Forecast
While U.S. output may decline between the second and third quarters, Goldman Sachs Group Inc.
projected on April 26 that production in the fourth will still be 200,000 barrels a day above year-
earlier levels. And that’s not including the backlog of uncompleted wells that drillers may start
bringing online, the bank said.
“We see risk to our production modeling as skewed to the upside later this year,” Goldman said in
a research note. “A rapid drawdown of the observed backlog of uncompleted wells could lead to
higher production later this year and in 2016.”
The Williston because the first of the major U.S. oil plays to add a rig since drilling began
collapsing across the country. The basin rose by one to 80 this week, Baker Hughes said.
Possible Rebound
The U.S. total may rebound to as high as 1,300 rigs should oil trade in the mid-$70s, Allen Gilmer,
chief executive officer of the Austin-based energy data provider Drillinginfo, said by phone on
Friday. The count will bottom in about a month, he said.
Whiting Petroleum Corp., the biggest oil producer in North Dakota’s Bakken shale, will put rigs
back to work when oil prices rebound to $70 a barrel, James Volker, the company’s chief
executive officer, said in a conference call with analysts on Thursday.
“Some of the rigs that we’ve released,” he said, “we can get back and pick up quickly.”
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 12
Saudi oil policy to see continuity
By: Sayed Hussain ( Energy outlook ) + NewBase
WE are a witness to monumental changes! And the Saudi energy sector is no exception. It is also
undergoing massive structural changes - at an unprecedented pace.
With Saudi Arabia, the world’s largest crude oil exporter and the Opec kingpin, crucially and
strategically important to the global energy balance, the energy world remained glued to Riyadh,
trying to decipher and understand the impact of the management changes on Saudi oil policy.
A number of measures - directly connected to the energy world - were announced over the last
few days. Saudi Arabia’s Supreme Economic Council approved a restructuring of global oil giant
Saudi Aramco, separating it from the oil ministry, it was revealed on Friday.
“Saudi Supreme Economic Council agrees on Deputy Crown Prince Mohammed bin Salman’s
vision of restructuring oil-giant Aramco,” it was reported in the press. “Restructuring of Saudi
Aramco includes separation from petroleum ministry.” Also a 10-member supreme board, led by
Deputy Crown Prince Mohammed bin Salman, was announced to oversee the company’s affairs.
The Supreme Petroleum Council, which previously set oil policy and was led by the king, will be
dissolved, the statement clarified. Earlier on Wednesday, King Salman announced appointing
Saudi Aramco’s chief executive, Khaled Al-Falih, as chairman of the state oil firm and health
minister.
Amin Nasser was inducted as the acting CEO. Falih has been the CEO of Aramco since January
2009. He has been with the company for more than 30 years, and as CEO he has worked to
modernize the company, making it more like its Western rivals.
“He has been the CEO of Aramco, and he’s a man of considerable capability and breadth, and he
is really respected throughout the oil world,” Daniel Yergin, was quoted in the international press
as saying.
And despite all the upheaval and the restructuring in Riyadh, the industry veteran, the
octogenarian Petroleum Minister Ali Al-Naimi, known for his characteristic regular brisk walks in
Vienna - during Opec ministerials - often pursued by a posse of reporters hanging on his every
word - continues to steward the Saudi energy affairs.
Despite some buzz within the energy fraternity about him hanging his boots and soon enough - he
continues - providing a sense of continuity and stability to the energy world - in these rather
turbulent times. In continuing with him, the King has once again reposed full confidence in him!
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 13
Having served as the kingdom’s oil minister since 1995, Ali Al-Naimi is widely viewed as the
mastermind behind Opec’s decision in November not to cut oil production below its current level of
30 million barrels a day, which would have reduced supply and bolstered prices that had been
plunging since late June 2014.
That the markets are showing some life now - underline that the policy was working. In recent
days too, Saudi Arabia has been underlining; it would keep pumping oil to meet any demand for
its supplies as it seeks to defend its share of the market.
The oil market is in “excellent” condition, Prince Abdulaziz Bin Salman, Saudi Arabia’s deputy oil
minister, told reporters on Monday in Al-Khobar. The kingdom seeks to keep customers happy
and maintain stability of prices, demand and supply, he emphasized.
“Saudi Arabia is interested in maintaining its share in the market and interested in keeping its
customers,” Prince Abdulaziz said. “We will supply any demand for Saudi oil, as we are interested
in the stability of the market. Stability includes price, supply, and demand stability,” he added.
“Saudi Arabia responds to demand in the market,” Prince Abdulaziz added. “We will provide oil to
whoever asks for it.” Minister Ali Al-Naimi has been at the forefront - leading the Saudi campaign
to let market forces determine the oil prices and not the traditional lever of OPEC output.
He too had been stressing in recent months that the Kingdom won’t yield market share to higher-
cost producers.Riyadh hence continues to pump at elevated levels. It pumped at close to a record
pace in March, the International Energy Agency reported on April 15.
To many, Minister Ali Al-Naimi’s survival is also a signal that King Salman was satisfied with Saudi
oil policy, and that the restructuring in Riyadh were unlikely to affect Saudi oil production policy.
“I don’t think there’s been any disagreement (within the Saudi leadership) about the idea of
keeping up production, maintaining market share, refusing to be a swing producer,” Clement M.
Henry, a professor at the Middle East Institute of the National University of Singapore was quoted
by Reuters as saying.
John Kilduff of Again Capital says the changes in Saudi Arabia appear supportive of the price of
oil, which has begun to be more impacted by geopolitical events in recent weeks.
Eugen Weinberg, head of commodity research at Commerzbank, is of the view that although it
was too early to tell, yet any output change in Saudi policy were unlikely, given hints about
supplying extra oil to Asia.
“The focus should remain on its (Saudi Arabia’s) market share and the latest talk by (Ali al-Naimi)
seems to support this view along; ‘we stay ready to supply more to Asian clients thanks to their
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 14
stronger demand’,” he told CNBC. “I don’t think it (the changes) will have much impact,” Thomas
Pugh, commodities economist at Capital Economics, was quoted by CNBC as saying.
And there are already hints that the Kingdom is already working to increase its production
capacity. James Williams, an energy economist at WTRG Economics, is of the view that the most
recent data from Baker Hughes shows that Saudi Arabia had 125 active oil and gas rigs in March
of this year, up from 96 the same time a year earlier.
The total represents an all-time high, according to Williams. He emphasized the number of active
oil rigs is at a record too. The rig count has climbed despite the fact that the “world market was still
flooded with oil,” Williams said. “This indicates that the Saudis are expanding production capacity,”
he noted.
One of the hallmarks of the Saudi oil policy has been stability and continuity. Despite some major
changes at the top in Riyadh, the signals emerging are that Riyadh would continue to bet on the
same. The oil policy of the Kingdom is not expected to undergo much change - at least in the
shorter term.
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 15
NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Your partner in Energy Services
NewBase energy news is produced daily (Sunday to Thursday) and
sponsored by Hawk Energy Service – Dubai, UAE.
For additional free subscription emails please contact Hawk Energy
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 03 May 2015 K. Al Awadi
Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this
publication. However, no warranty is given to the accuracy of its content. Page 16

More Related Content

What's hot

CPEC: Benefits to Balochistan
CPEC: Benefits to BalochistanCPEC: Benefits to Balochistan
CPEC: Benefits to Balochistanfaraz shah
 
Importance Of CPEC In The History Of Pakistan.
Importance Of CPEC In The History Of Pakistan.Importance Of CPEC In The History Of Pakistan.
Importance Of CPEC In The History Of Pakistan.Hassan Mahar
 
Presentation kazakhstan transport opportunities v2
Presentation kazakhstan transport opportunities v2Presentation kazakhstan transport opportunities v2
Presentation kazakhstan transport opportunities v2jantomczyk
 
China pakistan economic corridor 3
China pakistan economic corridor 3China pakistan economic corridor 3
China pakistan economic corridor 3anwaar azad
 
China-Pak Economic Corridor (CPEC)_Complete Project
China-Pak Economic Corridor (CPEC)_Complete ProjectChina-Pak Economic Corridor (CPEC)_Complete Project
China-Pak Economic Corridor (CPEC)_Complete ProjectAli Ahsan
 
Impact of cpec on pakistan’s gdp
Impact of cpec on pakistan’s gdpImpact of cpec on pakistan’s gdp
Impact of cpec on pakistan’s gdpKing Abidi
 
CPEC and Pak-China Relations
CPEC and Pak-China Relations CPEC and Pak-China Relations
CPEC and Pak-China Relations Ayesha Rana
 
China pakistan economic corriddor
China pakistan economic corriddorChina pakistan economic corriddor
China pakistan economic corriddorSiddhartha Singh
 
Transport today
Transport todayTransport today
Transport todayabood491
 
Modern logistics infrastructure
Modern logistics infrastructureModern logistics infrastructure
Modern logistics infrastructureHarsha Bulani
 
The Influence of Freight Trains on the Air Cargo in Kuwait International Airport
The Influence of Freight Trains on the Air Cargo in Kuwait International AirportThe Influence of Freight Trains on the Air Cargo in Kuwait International Airport
The Influence of Freight Trains on the Air Cargo in Kuwait International AirportIJERA Editor
 
china pakistan economic corridor (cpec)
china pakistan economic corridor (cpec)china pakistan economic corridor (cpec)
china pakistan economic corridor (cpec)zain ul hassan
 
China Pakistan Economic Corridor - CPEC - 2017
China Pakistan Economic Corridor - CPEC - 2017China Pakistan Economic Corridor - CPEC - 2017
China Pakistan Economic Corridor - CPEC - 2017FaHaD .H. NooR
 
Pak china economic corridor
Pak china economic corridorPak china economic corridor
Pak china economic corridorshamroz kakar
 
Pak China Economic Corridor
Pak China Economic CorridorPak China Economic Corridor
Pak China Economic CorridorHamid Nawaz
 

What's hot (20)

CPEC: Benefits to Balochistan
CPEC: Benefits to BalochistanCPEC: Benefits to Balochistan
CPEC: Benefits to Balochistan
 
Importance Of CPEC In The History Of Pakistan.
Importance Of CPEC In The History Of Pakistan.Importance Of CPEC In The History Of Pakistan.
Importance Of CPEC In The History Of Pakistan.
 
Presentation kazakhstan transport opportunities v2
Presentation kazakhstan transport opportunities v2Presentation kazakhstan transport opportunities v2
Presentation kazakhstan transport opportunities v2
 
China Pakistan Economic Cooperation
China Pakistan Economic Cooperation China Pakistan Economic Cooperation
China Pakistan Economic Cooperation
 
China pakistan economic corridor 3
China pakistan economic corridor 3China pakistan economic corridor 3
China pakistan economic corridor 3
 
China-Pak Economic Corridor (CPEC)_Complete Project
China-Pak Economic Corridor (CPEC)_Complete ProjectChina-Pak Economic Corridor (CPEC)_Complete Project
China-Pak Economic Corridor (CPEC)_Complete Project
 
Impact of cpec on pakistan’s gdp
Impact of cpec on pakistan’s gdpImpact of cpec on pakistan’s gdp
Impact of cpec on pakistan’s gdp
 
CPEC and Pak-China Relations
CPEC and Pak-China Relations CPEC and Pak-China Relations
CPEC and Pak-China Relations
 
China pakistan economic corriddor
China pakistan economic corriddorChina pakistan economic corriddor
China pakistan economic corriddor
 
Transport today
Transport todayTransport today
Transport today
 
BRIEF_ON_LAPSSET
BRIEF_ON_LAPSSETBRIEF_ON_LAPSSET
BRIEF_ON_LAPSSET
 
Modern logistics infrastructure
Modern logistics infrastructureModern logistics infrastructure
Modern logistics infrastructure
 
The Influence of Freight Trains on the Air Cargo in Kuwait International Airport
The Influence of Freight Trains on the Air Cargo in Kuwait International AirportThe Influence of Freight Trains on the Air Cargo in Kuwait International Airport
The Influence of Freight Trains on the Air Cargo in Kuwait International Airport
 
Cpec
CpecCpec
Cpec
 
china pakistan economic corridor (cpec)
china pakistan economic corridor (cpec)china pakistan economic corridor (cpec)
china pakistan economic corridor (cpec)
 
China Pakistan Economic Corridor - CPEC - 2017
China Pakistan Economic Corridor - CPEC - 2017China Pakistan Economic Corridor - CPEC - 2017
China Pakistan Economic Corridor - CPEC - 2017
 
Pak china economic corridor
Pak china economic corridorPak china economic corridor
Pak china economic corridor
 
Cpec
CpecCpec
Cpec
 
Pak China Economic Corridor
Pak China Economic CorridorPak China Economic Corridor
Pak China Economic Corridor
 
Logistics infrastructure
Logistics infrastructureLogistics infrastructure
Logistics infrastructure
 

Viewers also liked

The Study of Causes Losses Post-Harvests Of Cereal the Case of the Wheat - Ba...
The Study of Causes Losses Post-Harvests Of Cereal the Case of the Wheat - Ba...The Study of Causes Losses Post-Harvests Of Cereal the Case of the Wheat - Ba...
The Study of Causes Losses Post-Harvests Of Cereal the Case of the Wheat - Ba...iosrjce
 
Barangolások az ír köztársaságban 5 bunratty vár, skanzen
Barangolások az ír köztársaságban 5 bunratty vár, skanzenBarangolások az ír köztársaságban 5 bunratty vár, skanzen
Barangolások az ír köztársaságban 5 bunratty vár, skanzenZoltán Gerő
 
GC-MS analysis of phytocomponents in Vernonia amygdalina.Del leaves and its c...
GC-MS analysis of phytocomponents in Vernonia amygdalina.Del leaves and its c...GC-MS analysis of phytocomponents in Vernonia amygdalina.Del leaves and its c...
GC-MS analysis of phytocomponents in Vernonia amygdalina.Del leaves and its c...iosrjce
 
Muhammad Mohsin Updated Resume
Muhammad Mohsin Updated ResumeMuhammad Mohsin Updated Resume
Muhammad Mohsin Updated ResumeMuhammad Mohsin
 
A Sense of Place _ eugeneweekly
A Sense of Place _ eugeneweeklyA Sense of Place _ eugeneweekly
A Sense of Place _ eugeneweeklyTim Hilton
 
Histopathology of Multiple viral infections in lung of camel (Camelus Dromeda...
Histopathology of Multiple viral infections in lung of camel (Camelus Dromeda...Histopathology of Multiple viral infections in lung of camel (Camelus Dromeda...
Histopathology of Multiple viral infections in lung of camel (Camelus Dromeda...iosrjce
 
The Study of Straw Organics Products and JajarLegowo Utilization toward Rice ...
The Study of Straw Organics Products and JajarLegowo Utilization toward Rice ...The Study of Straw Organics Products and JajarLegowo Utilization toward Rice ...
The Study of Straw Organics Products and JajarLegowo Utilization toward Rice ...iosrjce
 
An Electrician Should Be Called After a Flood
An Electrician Should Be Called After a FloodAn Electrician Should Be Called After a Flood
An Electrician Should Be Called After a FloodLuigi Giubbolini
 
Utilité sociale de la médiation numérique Brest 2015 Hélène Duclos
Utilité sociale de la médiation numérique Brest 2015 Hélène DuclosUtilité sociale de la médiation numérique Brest 2015 Hélène Duclos
Utilité sociale de la médiation numérique Brest 2015 Hélène DuclosHélène Duclos
 
Hiba Chatila_Resume
Hiba Chatila_ResumeHiba Chatila_Resume
Hiba Chatila_ResumeHiba Chatila
 
Effcet of Vernonia Amygdalina.Del Ethanolic Extract Fraction on Serum Prolact...
Effcet of Vernonia Amygdalina.Del Ethanolic Extract Fraction on Serum Prolact...Effcet of Vernonia Amygdalina.Del Ethanolic Extract Fraction on Serum Prolact...
Effcet of Vernonia Amygdalina.Del Ethanolic Extract Fraction on Serum Prolact...iosrjce
 
Efficiency and Competitiveness of Corn Farming in Sumbawa Regency
Efficiency and Competitiveness of Corn Farming in Sumbawa RegencyEfficiency and Competitiveness of Corn Farming in Sumbawa Regency
Efficiency and Competitiveness of Corn Farming in Sumbawa Regencyiosrjce
 

Viewers also liked (20)

The Study of Causes Losses Post-Harvests Of Cereal the Case of the Wheat - Ba...
The Study of Causes Losses Post-Harvests Of Cereal the Case of the Wheat - Ba...The Study of Causes Losses Post-Harvests Of Cereal the Case of the Wheat - Ba...
The Study of Causes Losses Post-Harvests Of Cereal the Case of the Wheat - Ba...
 
Changes In The Sky
Changes In The SkyChanges In The Sky
Changes In The Sky
 
Charts of interest 01 05 15
Charts of interest 01 05 15Charts of interest 01 05 15
Charts of interest 01 05 15
 
Research methods2
Research methods2Research methods2
Research methods2
 
Barangolások az ír köztársaságban 5 bunratty vár, skanzen
Barangolások az ír köztársaságban 5 bunratty vár, skanzenBarangolások az ír köztársaságban 5 bunratty vár, skanzen
Barangolások az ír köztársaságban 5 bunratty vár, skanzen
 
GC-MS analysis of phytocomponents in Vernonia amygdalina.Del leaves and its c...
GC-MS analysis of phytocomponents in Vernonia amygdalina.Del leaves and its c...GC-MS analysis of phytocomponents in Vernonia amygdalina.Del leaves and its c...
GC-MS analysis of phytocomponents in Vernonia amygdalina.Del leaves and its c...
 
ARHD UNILATERAL PAIN V1 (3)
ARHD UNILATERAL PAIN V1 (3)ARHD UNILATERAL PAIN V1 (3)
ARHD UNILATERAL PAIN V1 (3)
 
Muhammad Mohsin Updated Resume
Muhammad Mohsin Updated ResumeMuhammad Mohsin Updated Resume
Muhammad Mohsin Updated Resume
 
A Sense of Place _ eugeneweekly
A Sense of Place _ eugeneweeklyA Sense of Place _ eugeneweekly
A Sense of Place _ eugeneweekly
 
Histopathology of Multiple viral infections in lung of camel (Camelus Dromeda...
Histopathology of Multiple viral infections in lung of camel (Camelus Dromeda...Histopathology of Multiple viral infections in lung of camel (Camelus Dromeda...
Histopathology of Multiple viral infections in lung of camel (Camelus Dromeda...
 
Negosiasi
NegosiasiNegosiasi
Negosiasi
 
The Study of Straw Organics Products and JajarLegowo Utilization toward Rice ...
The Study of Straw Organics Products and JajarLegowo Utilization toward Rice ...The Study of Straw Organics Products and JajarLegowo Utilization toward Rice ...
The Study of Straw Organics Products and JajarLegowo Utilization toward Rice ...
 
An Electrician Should Be Called After a Flood
An Electrician Should Be Called After a FloodAn Electrician Should Be Called After a Flood
An Electrician Should Be Called After a Flood
 
Utilité sociale de la médiation numérique Brest 2015 Hélène Duclos
Utilité sociale de la médiation numérique Brest 2015 Hélène DuclosUtilité sociale de la médiation numérique Brest 2015 Hélène Duclos
Utilité sociale de la médiation numérique Brest 2015 Hélène Duclos
 
Gem english
Gem englishGem english
Gem english
 
Hiba Chatila_Resume
Hiba Chatila_ResumeHiba Chatila_Resume
Hiba Chatila_Resume
 
Effcet of Vernonia Amygdalina.Del Ethanolic Extract Fraction on Serum Prolact...
Effcet of Vernonia Amygdalina.Del Ethanolic Extract Fraction on Serum Prolact...Effcet of Vernonia Amygdalina.Del Ethanolic Extract Fraction on Serum Prolact...
Effcet of Vernonia Amygdalina.Del Ethanolic Extract Fraction on Serum Prolact...
 
Efficiency and Competitiveness of Corn Farming in Sumbawa Regency
Efficiency and Competitiveness of Corn Farming in Sumbawa RegencyEfficiency and Competitiveness of Corn Farming in Sumbawa Regency
Efficiency and Competitiveness of Corn Farming in Sumbawa Regency
 
Gonfi da scoppiare
Gonfi da scoppiareGonfi da scoppiare
Gonfi da scoppiare
 
Gestion de riesgo
Gestion de riesgoGestion de riesgo
Gestion de riesgo
 

Similar to NewBase 595 special 03 May 2015

New base special 08 september 2014
New base special  08 september   2014New base special  08 september   2014
New base special 08 september 2014Khaled Al Awadi
 
New base 574 special 02 april 2015
New base 574 special  02 april  2015New base 574 special  02 april  2015
New base 574 special 02 april 2015Khaled Al Awadi
 
New base special 17 august 2014
New base special  17 august 2014New base special  17 august 2014
New base special 17 august 2014Khaled Al Awadi
 
NewBase 05 January 2024 Energy News issue - 1687 by Khaled Al Awadi_compres...
NewBase  05 January 2024  Energy News issue - 1687 by Khaled Al Awadi_compres...NewBase  05 January 2024  Energy News issue - 1687 by Khaled Al Awadi_compres...
NewBase 05 January 2024 Energy News issue - 1687 by Khaled Al Awadi_compres...Khaled Al Awadi
 
New base 08 march 2021 energy news issue 1413 by khaled al awadi
New base 08 march  2021 energy news issue   1413  by khaled al awadiNew base 08 march  2021 energy news issue   1413  by khaled al awadi
New base 08 march 2021 energy news issue 1413 by khaled al awadiKhaled Al Awadi
 
New base 793 special 23 february 2016
New base 793 special 23 february 2016New base 793 special 23 february 2016
New base 793 special 23 february 2016Khaled Al Awadi
 
New base energy news issue 901 dated 07 august 2016
New base energy news issue  901 dated 07 august 2016New base energy news issue  901 dated 07 august 2016
New base energy news issue 901 dated 07 august 2016Khaled Al Awadi
 
NewBase May 27 -2022 Energy News issue - 1517 by Khaled Al Awadi.pdf
NewBase May 27 -2022  Energy News issue - 1517  by Khaled Al Awadi.pdfNewBase May 27 -2022  Energy News issue - 1517  by Khaled Al Awadi.pdf
NewBase May 27 -2022 Energy News issue - 1517 by Khaled Al Awadi.pdfKhaled Al Awadi
 
New base special 29 january 2014
New base special  29 january 2014New base special  29 january 2014
New base special 29 january 2014Khaled Al Awadi
 
Microsoft word new base 664 special 13 august 2015
Microsoft word   new base 664 special  13 august 2015Microsoft word   new base 664 special  13 august 2015
Microsoft word new base 664 special 13 august 2015Khaled Al Awadi
 
New base 677 special 01 september 2015
New base 677 special  01 september 2015New base 677 special  01 september 2015
New base 677 special 01 september 2015Khaled Al Awadi
 
New base 1011 special 19 march 2017 energy news
New base 1011 special 19 march 2017 energy newsNew base 1011 special 19 march 2017 energy news
New base 1011 special 19 march 2017 energy newsKhaled Al Awadi
 
New base 830 special 14 april 2016
New base 830 special 14 april  2016New base 830 special 14 april  2016
New base 830 special 14 april 2016Khaled Al Awadi
 
New base 509 special 31 december 2014
New base 509 special  31 december  2014New base 509 special  31 december  2014
New base 509 special 31 december 2014Khaled Al Awadi
 
New base special 26 january 2014
New base special  26 january 2014New base special  26 january 2014
New base special 26 january 2014Khaled Al Awadi
 
New base energy news issue 860 dated 29 may 2016
New base energy news issue  860 dated 29 may 2016New base energy news issue  860 dated 29 may 2016
New base energy news issue 860 dated 29 may 2016Khaled Al Awadi
 
New base 489 special 30 november 2014
New base 489 special  30 november  2014New base 489 special  30 november  2014
New base 489 special 30 november 2014Khaled Al Awadi
 
NewBase 15 May-2023 Energy News issue - 1620 by Khaled Al Awadi.pdf
NewBase 15 May-2023  Energy News issue - 1620 by Khaled Al Awadi.pdfNewBase 15 May-2023  Energy News issue - 1620 by Khaled Al Awadi.pdf
NewBase 15 May-2023 Energy News issue - 1620 by Khaled Al Awadi.pdfKhaled Al Awadi
 
New base 17 july 2021 energy news issue 1443 by khaled al awadi
New base 17 july  2021 energy news issue   1443  by khaled al awadiNew base 17 july  2021 energy news issue   1443  by khaled al awadi
New base 17 july 2021 energy news issue 1443 by khaled al awadiKhaled Al Awadi
 
NewBase 21 September 2023 Energy News issue - 1658 by Khaled Al Awadi_compr...
NewBase  21 September 2023  Energy News issue - 1658 by Khaled Al Awadi_compr...NewBase  21 September 2023  Energy News issue - 1658 by Khaled Al Awadi_compr...
NewBase 21 September 2023 Energy News issue - 1658 by Khaled Al Awadi_compr...Khaled Al Awadi
 

Similar to NewBase 595 special 03 May 2015 (20)

New base special 08 september 2014
New base special  08 september   2014New base special  08 september   2014
New base special 08 september 2014
 
New base 574 special 02 april 2015
New base 574 special  02 april  2015New base 574 special  02 april  2015
New base 574 special 02 april 2015
 
New base special 17 august 2014
New base special  17 august 2014New base special  17 august 2014
New base special 17 august 2014
 
NewBase 05 January 2024 Energy News issue - 1687 by Khaled Al Awadi_compres...
NewBase  05 January 2024  Energy News issue - 1687 by Khaled Al Awadi_compres...NewBase  05 January 2024  Energy News issue - 1687 by Khaled Al Awadi_compres...
NewBase 05 January 2024 Energy News issue - 1687 by Khaled Al Awadi_compres...
 
New base 08 march 2021 energy news issue 1413 by khaled al awadi
New base 08 march  2021 energy news issue   1413  by khaled al awadiNew base 08 march  2021 energy news issue   1413  by khaled al awadi
New base 08 march 2021 energy news issue 1413 by khaled al awadi
 
New base 793 special 23 february 2016
New base 793 special 23 february 2016New base 793 special 23 february 2016
New base 793 special 23 february 2016
 
New base energy news issue 901 dated 07 august 2016
New base energy news issue  901 dated 07 august 2016New base energy news issue  901 dated 07 august 2016
New base energy news issue 901 dated 07 august 2016
 
NewBase May 27 -2022 Energy News issue - 1517 by Khaled Al Awadi.pdf
NewBase May 27 -2022  Energy News issue - 1517  by Khaled Al Awadi.pdfNewBase May 27 -2022  Energy News issue - 1517  by Khaled Al Awadi.pdf
NewBase May 27 -2022 Energy News issue - 1517 by Khaled Al Awadi.pdf
 
New base special 29 january 2014
New base special  29 january 2014New base special  29 january 2014
New base special 29 january 2014
 
Microsoft word new base 664 special 13 august 2015
Microsoft word   new base 664 special  13 august 2015Microsoft word   new base 664 special  13 august 2015
Microsoft word new base 664 special 13 august 2015
 
New base 677 special 01 september 2015
New base 677 special  01 september 2015New base 677 special  01 september 2015
New base 677 special 01 september 2015
 
New base 1011 special 19 march 2017 energy news
New base 1011 special 19 march 2017 energy newsNew base 1011 special 19 march 2017 energy news
New base 1011 special 19 march 2017 energy news
 
New base 830 special 14 april 2016
New base 830 special 14 april  2016New base 830 special 14 april  2016
New base 830 special 14 april 2016
 
New base 509 special 31 december 2014
New base 509 special  31 december  2014New base 509 special  31 december  2014
New base 509 special 31 december 2014
 
New base special 26 january 2014
New base special  26 january 2014New base special  26 january 2014
New base special 26 january 2014
 
New base energy news issue 860 dated 29 may 2016
New base energy news issue  860 dated 29 may 2016New base energy news issue  860 dated 29 may 2016
New base energy news issue 860 dated 29 may 2016
 
New base 489 special 30 november 2014
New base 489 special  30 november  2014New base 489 special  30 november  2014
New base 489 special 30 november 2014
 
NewBase 15 May-2023 Energy News issue - 1620 by Khaled Al Awadi.pdf
NewBase 15 May-2023  Energy News issue - 1620 by Khaled Al Awadi.pdfNewBase 15 May-2023  Energy News issue - 1620 by Khaled Al Awadi.pdf
NewBase 15 May-2023 Energy News issue - 1620 by Khaled Al Awadi.pdf
 
New base 17 july 2021 energy news issue 1443 by khaled al awadi
New base 17 july  2021 energy news issue   1443  by khaled al awadiNew base 17 july  2021 energy news issue   1443  by khaled al awadi
New base 17 july 2021 energy news issue 1443 by khaled al awadi
 
NewBase 21 September 2023 Energy News issue - 1658 by Khaled Al Awadi_compr...
NewBase  21 September 2023  Energy News issue - 1658 by Khaled Al Awadi_compr...NewBase  21 September 2023  Energy News issue - 1658 by Khaled Al Awadi_compr...
NewBase 21 September 2023 Energy News issue - 1658 by Khaled Al Awadi_compr...
 

More from Khaled Al Awadi

NewBase 29 April 2024 Energy News issue - 1720 by Khaled Al Awadi_compress...
NewBase  29 April  2024  Energy News issue - 1720 by Khaled Al Awadi_compress...NewBase  29 April  2024  Energy News issue - 1720 by Khaled Al Awadi_compress...
NewBase 29 April 2024 Energy News issue - 1720 by Khaled Al Awadi_compress...Khaled Al Awadi
 
NewBase 25 April 2024 Energy News issue - 1719 by Khaled Al Awadi_compress...
NewBase  25 April  2024  Energy News issue - 1719 by Khaled Al Awadi_compress...NewBase  25 April  2024  Energy News issue - 1719 by Khaled Al Awadi_compress...
NewBase 25 April 2024 Energy News issue - 1719 by Khaled Al Awadi_compress...Khaled Al Awadi
 
NewBase 22 April 2024 Energy News issue - 1718 by Khaled Al Awadi (AutoRe...
NewBase  22 April  2024  Energy News issue - 1718 by Khaled Al Awadi  (AutoRe...NewBase  22 April  2024  Energy News issue - 1718 by Khaled Al Awadi  (AutoRe...
NewBase 22 April 2024 Energy News issue - 1718 by Khaled Al Awadi (AutoRe...Khaled Al Awadi
 
NewBase 19 April 2024 Energy News issue - 1717 by Khaled Al Awadi.pdf
NewBase  19 April  2024  Energy News issue - 1717 by Khaled Al Awadi.pdfNewBase  19 April  2024  Energy News issue - 1717 by Khaled Al Awadi.pdf
NewBase 19 April 2024 Energy News issue - 1717 by Khaled Al Awadi.pdfKhaled Al Awadi
 
NewBase 15 April 2024 Energy News issue - 1716 by Khaled Al Awadi.pdf
NewBase  15 April  2024  Energy News issue - 1716 by Khaled Al Awadi.pdfNewBase  15 April  2024  Energy News issue - 1716 by Khaled Al Awadi.pdf
NewBase 15 April 2024 Energy News issue - 1716 by Khaled Al Awadi.pdfKhaled Al Awadi
 
12 April 2024 Energy News issue - 1715 by Khaled Al Awadi.pdf
12 April  2024  Energy News issue - 1715 by Khaled Al Awadi.pdf12 April  2024  Energy News issue - 1715 by Khaled Al Awadi.pdf
12 April 2024 Energy News issue - 1715 by Khaled Al Awadi.pdfKhaled Al Awadi
 
08 April 2024 Energy News issue - 1714 by Khaled Al Awadi_compressed.pdf
08 April  2024  Energy News issue - 1714 by Khaled Al Awadi_compressed.pdf08 April  2024  Energy News issue - 1714 by Khaled Al Awadi_compressed.pdf
08 April 2024 Energy News issue - 1714 by Khaled Al Awadi_compressed.pdfKhaled Al Awadi
 
NewBase 04 April 2024 Energy News issue - 1713 by Khaled Al Awadi_compress...
NewBase  04 April  2024  Energy News issue - 1713 by Khaled Al Awadi_compress...NewBase  04 April  2024  Energy News issue - 1713 by Khaled Al Awadi_compress...
NewBase 04 April 2024 Energy News issue - 1713 by Khaled Al Awadi_compress...Khaled Al Awadi
 
NewBase 01 April 2024 Energy News issue - 1712 by Khaled Al Awadi.pdf
NewBase  01 April  2024  Energy News issue - 1712 by Khaled Al Awadi.pdfNewBase  01 April  2024  Energy News issue - 1712 by Khaled Al Awadi.pdf
NewBase 01 April 2024 Energy News issue - 1712 by Khaled Al Awadi.pdfKhaled Al Awadi
 
NewBase 28 March 2024 Energy News issue - 1711 by Khaled Al Awadi.pdf
NewBase  28 March  2024  Energy News issue - 1711 by Khaled Al Awadi.pdfNewBase  28 March  2024  Energy News issue - 1711 by Khaled Al Awadi.pdf
NewBase 28 March 2024 Energy News issue - 1711 by Khaled Al Awadi.pdfKhaled Al Awadi
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...Khaled Al Awadi
 
NewBase 22 March 2024 Energy News issue - 1709 by Khaled Al Awadi_compress...
NewBase  22 March  2024  Energy News issue - 1709 by Khaled Al Awadi_compress...NewBase  22 March  2024  Energy News issue - 1709 by Khaled Al Awadi_compress...
NewBase 22 March 2024 Energy News issue - 1709 by Khaled Al Awadi_compress...Khaled Al Awadi
 
NewBase 14 March 2024 Energy News issue - 1707 by Khaled Al Awadi_compress...
NewBase  14 March  2024  Energy News issue - 1707 by Khaled Al Awadi_compress...NewBase  14 March  2024  Energy News issue - 1707 by Khaled Al Awadi_compress...
NewBase 14 March 2024 Energy News issue - 1707 by Khaled Al Awadi_compress...Khaled Al Awadi
 
NewBase 11 March 2024 Energy News issue - 1706 by Khaled Al Awadi_compress...
NewBase  11 March  2024  Energy News issue - 1706 by Khaled Al Awadi_compress...NewBase  11 March  2024  Energy News issue - 1706 by Khaled Al Awadi_compress...
NewBase 11 March 2024 Energy News issue - 1706 by Khaled Al Awadi_compress...Khaled Al Awadi
 
NewBase 07 March 2024 Energy News issue - 1705 by Khaled Al Awadi_compress...
NewBase  07 March  2024  Energy News issue - 1705 by Khaled Al Awadi_compress...NewBase  07 March  2024  Energy News issue - 1705 by Khaled Al Awadi_compress...
NewBase 07 March 2024 Energy News issue - 1705 by Khaled Al Awadi_compress...Khaled Al Awadi
 
NewBase 04 March 2024 Energy News issue - 1704 by Khaled Al Awadi_compress...
NewBase  04 March  2024  Energy News issue - 1704 by Khaled Al Awadi_compress...NewBase  04 March  2024  Energy News issue - 1704 by Khaled Al Awadi_compress...
NewBase 04 March 2024 Energy News issue - 1704 by Khaled Al Awadi_compress...Khaled Al Awadi
 
NewBase 29 January 2024 Energy News issue - 1703 by Khaled Al Awadi_compres...
NewBase  29 January 2024  Energy News issue - 1703 by Khaled Al Awadi_compres...NewBase  29 January 2024  Energy News issue - 1703 by Khaled Al Awadi_compres...
NewBase 29 January 2024 Energy News issue - 1703 by Khaled Al Awadi_compres...Khaled Al Awadi
 
NewBase 26 January 2024 Energy News issue - 1702 by Khaled Al Awadi_compres...
NewBase  26 January 2024  Energy News issue - 1702 by Khaled Al Awadi_compres...NewBase  26 January 2024  Energy News issue - 1702 by Khaled Al Awadi_compres...
NewBase 26 January 2024 Energy News issue - 1702 by Khaled Al Awadi_compres...Khaled Al Awadi
 
NewBase 22 January 2024 Energy News issue - 1701 by Khaled Al Awadi 2_compr...
NewBase  22 January 2024  Energy News issue - 1701 by Khaled Al Awadi 2_compr...NewBase  22 January 2024  Energy News issue - 1701 by Khaled Al Awadi 2_compr...
NewBase 22 January 2024 Energy News issue - 1701 by Khaled Al Awadi 2_compr...Khaled Al Awadi
 
NewBase 19 January 2024 Energy News issue - 1700 by Khaled Al Awadi_compres...
NewBase  19 January 2024  Energy News issue - 1700 by Khaled Al Awadi_compres...NewBase  19 January 2024  Energy News issue - 1700 by Khaled Al Awadi_compres...
NewBase 19 January 2024 Energy News issue - 1700 by Khaled Al Awadi_compres...Khaled Al Awadi
 

More from Khaled Al Awadi (20)

NewBase 29 April 2024 Energy News issue - 1720 by Khaled Al Awadi_compress...
NewBase  29 April  2024  Energy News issue - 1720 by Khaled Al Awadi_compress...NewBase  29 April  2024  Energy News issue - 1720 by Khaled Al Awadi_compress...
NewBase 29 April 2024 Energy News issue - 1720 by Khaled Al Awadi_compress...
 
NewBase 25 April 2024 Energy News issue - 1719 by Khaled Al Awadi_compress...
NewBase  25 April  2024  Energy News issue - 1719 by Khaled Al Awadi_compress...NewBase  25 April  2024  Energy News issue - 1719 by Khaled Al Awadi_compress...
NewBase 25 April 2024 Energy News issue - 1719 by Khaled Al Awadi_compress...
 
NewBase 22 April 2024 Energy News issue - 1718 by Khaled Al Awadi (AutoRe...
NewBase  22 April  2024  Energy News issue - 1718 by Khaled Al Awadi  (AutoRe...NewBase  22 April  2024  Energy News issue - 1718 by Khaled Al Awadi  (AutoRe...
NewBase 22 April 2024 Energy News issue - 1718 by Khaled Al Awadi (AutoRe...
 
NewBase 19 April 2024 Energy News issue - 1717 by Khaled Al Awadi.pdf
NewBase  19 April  2024  Energy News issue - 1717 by Khaled Al Awadi.pdfNewBase  19 April  2024  Energy News issue - 1717 by Khaled Al Awadi.pdf
NewBase 19 April 2024 Energy News issue - 1717 by Khaled Al Awadi.pdf
 
NewBase 15 April 2024 Energy News issue - 1716 by Khaled Al Awadi.pdf
NewBase  15 April  2024  Energy News issue - 1716 by Khaled Al Awadi.pdfNewBase  15 April  2024  Energy News issue - 1716 by Khaled Al Awadi.pdf
NewBase 15 April 2024 Energy News issue - 1716 by Khaled Al Awadi.pdf
 
12 April 2024 Energy News issue - 1715 by Khaled Al Awadi.pdf
12 April  2024  Energy News issue - 1715 by Khaled Al Awadi.pdf12 April  2024  Energy News issue - 1715 by Khaled Al Awadi.pdf
12 April 2024 Energy News issue - 1715 by Khaled Al Awadi.pdf
 
08 April 2024 Energy News issue - 1714 by Khaled Al Awadi_compressed.pdf
08 April  2024  Energy News issue - 1714 by Khaled Al Awadi_compressed.pdf08 April  2024  Energy News issue - 1714 by Khaled Al Awadi_compressed.pdf
08 April 2024 Energy News issue - 1714 by Khaled Al Awadi_compressed.pdf
 
NewBase 04 April 2024 Energy News issue - 1713 by Khaled Al Awadi_compress...
NewBase  04 April  2024  Energy News issue - 1713 by Khaled Al Awadi_compress...NewBase  04 April  2024  Energy News issue - 1713 by Khaled Al Awadi_compress...
NewBase 04 April 2024 Energy News issue - 1713 by Khaled Al Awadi_compress...
 
NewBase 01 April 2024 Energy News issue - 1712 by Khaled Al Awadi.pdf
NewBase  01 April  2024  Energy News issue - 1712 by Khaled Al Awadi.pdfNewBase  01 April  2024  Energy News issue - 1712 by Khaled Al Awadi.pdf
NewBase 01 April 2024 Energy News issue - 1712 by Khaled Al Awadi.pdf
 
NewBase 28 March 2024 Energy News issue - 1711 by Khaled Al Awadi.pdf
NewBase  28 March  2024  Energy News issue - 1711 by Khaled Al Awadi.pdfNewBase  28 March  2024  Energy News issue - 1711 by Khaled Al Awadi.pdf
NewBase 28 March 2024 Energy News issue - 1711 by Khaled Al Awadi.pdf
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
 
NewBase 22 March 2024 Energy News issue - 1709 by Khaled Al Awadi_compress...
NewBase  22 March  2024  Energy News issue - 1709 by Khaled Al Awadi_compress...NewBase  22 March  2024  Energy News issue - 1709 by Khaled Al Awadi_compress...
NewBase 22 March 2024 Energy News issue - 1709 by Khaled Al Awadi_compress...
 
NewBase 14 March 2024 Energy News issue - 1707 by Khaled Al Awadi_compress...
NewBase  14 March  2024  Energy News issue - 1707 by Khaled Al Awadi_compress...NewBase  14 March  2024  Energy News issue - 1707 by Khaled Al Awadi_compress...
NewBase 14 March 2024 Energy News issue - 1707 by Khaled Al Awadi_compress...
 
NewBase 11 March 2024 Energy News issue - 1706 by Khaled Al Awadi_compress...
NewBase  11 March  2024  Energy News issue - 1706 by Khaled Al Awadi_compress...NewBase  11 March  2024  Energy News issue - 1706 by Khaled Al Awadi_compress...
NewBase 11 March 2024 Energy News issue - 1706 by Khaled Al Awadi_compress...
 
NewBase 07 March 2024 Energy News issue - 1705 by Khaled Al Awadi_compress...
NewBase  07 March  2024  Energy News issue - 1705 by Khaled Al Awadi_compress...NewBase  07 March  2024  Energy News issue - 1705 by Khaled Al Awadi_compress...
NewBase 07 March 2024 Energy News issue - 1705 by Khaled Al Awadi_compress...
 
NewBase 04 March 2024 Energy News issue - 1704 by Khaled Al Awadi_compress...
NewBase  04 March  2024  Energy News issue - 1704 by Khaled Al Awadi_compress...NewBase  04 March  2024  Energy News issue - 1704 by Khaled Al Awadi_compress...
NewBase 04 March 2024 Energy News issue - 1704 by Khaled Al Awadi_compress...
 
NewBase 29 January 2024 Energy News issue - 1703 by Khaled Al Awadi_compres...
NewBase  29 January 2024  Energy News issue - 1703 by Khaled Al Awadi_compres...NewBase  29 January 2024  Energy News issue - 1703 by Khaled Al Awadi_compres...
NewBase 29 January 2024 Energy News issue - 1703 by Khaled Al Awadi_compres...
 
NewBase 26 January 2024 Energy News issue - 1702 by Khaled Al Awadi_compres...
NewBase  26 January 2024  Energy News issue - 1702 by Khaled Al Awadi_compres...NewBase  26 January 2024  Energy News issue - 1702 by Khaled Al Awadi_compres...
NewBase 26 January 2024 Energy News issue - 1702 by Khaled Al Awadi_compres...
 
NewBase 22 January 2024 Energy News issue - 1701 by Khaled Al Awadi 2_compr...
NewBase  22 January 2024  Energy News issue - 1701 by Khaled Al Awadi 2_compr...NewBase  22 January 2024  Energy News issue - 1701 by Khaled Al Awadi 2_compr...
NewBase 22 January 2024 Energy News issue - 1701 by Khaled Al Awadi 2_compr...
 
NewBase 19 January 2024 Energy News issue - 1700 by Khaled Al Awadi_compres...
NewBase  19 January 2024  Energy News issue - 1700 by Khaled Al Awadi_compres...NewBase  19 January 2024  Energy News issue - 1700 by Khaled Al Awadi_compres...
NewBase 19 January 2024 Energy News issue - 1700 by Khaled Al Awadi_compres...
 

Recently uploaded

Russian Call Girls In Gtb Nagar (Delhi) 9711199012 💋✔💕😘 Naughty Call Girls Se...
Russian Call Girls In Gtb Nagar (Delhi) 9711199012 💋✔💕😘 Naughty Call Girls Se...Russian Call Girls In Gtb Nagar (Delhi) 9711199012 💋✔💕😘 Naughty Call Girls Se...
Russian Call Girls In Gtb Nagar (Delhi) 9711199012 💋✔💕😘 Naughty Call Girls Se...shivangimorya083
 
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur EscortsCall Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escortsranjana rawat
 
Dividend Policy and Dividend Decision Theories.pptx
Dividend Policy and Dividend Decision Theories.pptxDividend Policy and Dividend Decision Theories.pptx
Dividend Policy and Dividend Decision Theories.pptxanshikagoel52
 
The Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdfThe Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdfGale Pooley
 
20240417-Calibre-April-2024-Investor-Presentation.pdf
20240417-Calibre-April-2024-Investor-Presentation.pdf20240417-Calibre-April-2024-Investor-Presentation.pdf
20240417-Calibre-April-2024-Investor-Presentation.pdfAdnet Communications
 
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...Henry Tapper
 
Bladex Earnings Call Presentation 1Q2024
Bladex Earnings Call Presentation 1Q2024Bladex Earnings Call Presentation 1Q2024
Bladex Earnings Call Presentation 1Q2024Bladex
 
call girls in Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in  Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️call girls in  Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️9953056974 Low Rate Call Girls In Saket, Delhi NCR
 
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance Company
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance CompanyInterimreport1 January–31 March2024 Elo Mutual Pension Insurance Company
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance CompanyTyöeläkeyhtiö Elo
 
Quantitative Analysis of Retail Sector Companies
Quantitative Analysis of Retail Sector CompaniesQuantitative Analysis of Retail Sector Companies
Quantitative Analysis of Retail Sector Companiesprashantbhati354
 
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure service
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure serviceCall US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure service
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure servicePooja Nehwal
 
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...ranjana rawat
 
Instant Issue Debit Cards - High School Spirit
Instant Issue Debit Cards - High School SpiritInstant Issue Debit Cards - High School Spirit
Instant Issue Debit Cards - High School Spiritegoetzinger
 
Vip B Aizawl Call Girls #9907093804 Contact Number Escorts Service Aizawl
Vip B Aizawl Call Girls #9907093804 Contact Number Escorts Service AizawlVip B Aizawl Call Girls #9907093804 Contact Number Escorts Service Aizawl
Vip B Aizawl Call Girls #9907093804 Contact Number Escorts Service Aizawlmakika9823
 
VIP Kolkata Call Girl Serampore 👉 8250192130 Available With Room
VIP Kolkata Call Girl Serampore 👉 8250192130  Available With RoomVIP Kolkata Call Girl Serampore 👉 8250192130  Available With Room
VIP Kolkata Call Girl Serampore 👉 8250192130 Available With Roomdivyansh0kumar0
 
Lundin Gold April 2024 Corporate Presentation v4.pdf
Lundin Gold April 2024 Corporate Presentation v4.pdfLundin Gold April 2024 Corporate Presentation v4.pdf
Lundin Gold April 2024 Corporate Presentation v4.pdfAdnet Communications
 
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...Call Girls in Nagpur High Profile
 
Independent Lucknow Call Girls 8923113531WhatsApp Lucknow Call Girls make you...
Independent Lucknow Call Girls 8923113531WhatsApp Lucknow Call Girls make you...Independent Lucknow Call Girls 8923113531WhatsApp Lucknow Call Girls make you...
Independent Lucknow Call Girls 8923113531WhatsApp Lucknow Call Girls make you...makika9823
 

Recently uploaded (20)

Russian Call Girls In Gtb Nagar (Delhi) 9711199012 💋✔💕😘 Naughty Call Girls Se...
Russian Call Girls In Gtb Nagar (Delhi) 9711199012 💋✔💕😘 Naughty Call Girls Se...Russian Call Girls In Gtb Nagar (Delhi) 9711199012 💋✔💕😘 Naughty Call Girls Se...
Russian Call Girls In Gtb Nagar (Delhi) 9711199012 💋✔💕😘 Naughty Call Girls Se...
 
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur EscortsCall Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
 
Dividend Policy and Dividend Decision Theories.pptx
Dividend Policy and Dividend Decision Theories.pptxDividend Policy and Dividend Decision Theories.pptx
Dividend Policy and Dividend Decision Theories.pptx
 
The Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdfThe Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdf
 
20240417-Calibre-April-2024-Investor-Presentation.pdf
20240417-Calibre-April-2024-Investor-Presentation.pdf20240417-Calibre-April-2024-Investor-Presentation.pdf
20240417-Calibre-April-2024-Investor-Presentation.pdf
 
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...
letter-from-the-chair-to-the-fca-relating-to-british-steel-pensions-scheme-15...
 
Bladex Earnings Call Presentation 1Q2024
Bladex Earnings Call Presentation 1Q2024Bladex Earnings Call Presentation 1Q2024
Bladex Earnings Call Presentation 1Q2024
 
call girls in Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in  Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️call girls in  Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in Nand Nagri (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
 
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance Company
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance CompanyInterimreport1 January–31 March2024 Elo Mutual Pension Insurance Company
Interimreport1 January–31 March2024 Elo Mutual Pension Insurance Company
 
Commercial Bank Economic Capsule - April 2024
Commercial Bank Economic Capsule - April 2024Commercial Bank Economic Capsule - April 2024
Commercial Bank Economic Capsule - April 2024
 
Quantitative Analysis of Retail Sector Companies
Quantitative Analysis of Retail Sector CompaniesQuantitative Analysis of Retail Sector Companies
Quantitative Analysis of Retail Sector Companies
 
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure service
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure serviceCall US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure service
Call US 📞 9892124323 ✅ Kurla Call Girls In Kurla ( Mumbai ) secure service
 
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
 
Instant Issue Debit Cards - High School Spirit
Instant Issue Debit Cards - High School SpiritInstant Issue Debit Cards - High School Spirit
Instant Issue Debit Cards - High School Spirit
 
Vip B Aizawl Call Girls #9907093804 Contact Number Escorts Service Aizawl
Vip B Aizawl Call Girls #9907093804 Contact Number Escorts Service AizawlVip B Aizawl Call Girls #9907093804 Contact Number Escorts Service Aizawl
Vip B Aizawl Call Girls #9907093804 Contact Number Escorts Service Aizawl
 
VIP Kolkata Call Girl Serampore 👉 8250192130 Available With Room
VIP Kolkata Call Girl Serampore 👉 8250192130  Available With RoomVIP Kolkata Call Girl Serampore 👉 8250192130  Available With Room
VIP Kolkata Call Girl Serampore 👉 8250192130 Available With Room
 
Lundin Gold April 2024 Corporate Presentation v4.pdf
Lundin Gold April 2024 Corporate Presentation v4.pdfLundin Gold April 2024 Corporate Presentation v4.pdf
Lundin Gold April 2024 Corporate Presentation v4.pdf
 
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
 
Independent Lucknow Call Girls 8923113531WhatsApp Lucknow Call Girls make you...
Independent Lucknow Call Girls 8923113531WhatsApp Lucknow Call Girls make you...Independent Lucknow Call Girls 8923113531WhatsApp Lucknow Call Girls make you...
Independent Lucknow Call Girls 8923113531WhatsApp Lucknow Call Girls make you...
 
Veritas Interim Report 1 January–31 March 2024
Veritas Interim Report 1 January–31 March 2024Veritas Interim Report 1 January–31 March 2024
Veritas Interim Report 1 January–31 March 2024
 

NewBase 595 special 03 May 2015

  • 1. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 1 NewBase 03 May 2015 - Issue No. 595 Khaled Al Awadi NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE GCC rail, road & maritime projects worth $422 billion Saudi Gazette + NewBase The GCC’s integrated transport strategy will be the focus of NATRANS Arabia 2015, a first-of-its- kind event piecing together the Gulf region’s transportation infrastructure with rail, road, and maritime projects, which according to Fleming Gulf research, is worth an estimated $422 billion and completed within the next five years. The conference-led exhibition which is being held in partnership with the UAE Federal Transportation Authority – Land and Maritime and held under the patronage of Dr. Abdulla Belhaif Al Nuaimi, Minister of Public Works and Chairman of the Federal Transport Authority - Land and Marine, will highlight the UAE’s position within the region as a leading state in transport infrastructure development. “The event will discuss and showcase proven, deployed schemes, pioneering research and development solutions that are intended to solve real world problems which are critical regional imperatives,” said Alex Heuff, Exhibition Director, NATRANS Arabia which takes place at the Abu Dhabi National Exhibition Centre (ADNEC) on Oct. 19-21, 2015. “By creating an event which covers the industry as a whole, NATRANS Arabia is set to deliver a unique networking platform for the region’s entire land and maritime transportation sector,” added Heuff. NATRANS Arabia consists of three distinct conference streams, incorporating the regions established rail conference – the 6th Middle East Rail Opportunities on Oct. 19- 20 plus two
  • 2. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 2 dedicated one-day conferences, firstly addressing road issues on Oct. 19 and secondly addressing maritime issues on Oct. 20. During the 6th Middle East Rail Opportunities Summit, designs of nearly $200 billion in network projects will be presented, running from the Gulf coast from Kuwait, through Saudi Arabia, to the UAE and Oman, with branches linking Bahrain and Qatar. These projects will be completed before the end of the first quarter 2016. “Construction is already in progress and will be fully operational in 2018. Abu Dhabi is spearheading the GCC rail network with its AED40 billion ($10.9 billion), Etihad Rail link project, which stretches for 1,200 kilometers, from Ghweifat on the Saudi border to south of Fujairah on the Omani border,” said Heuff. The Middle East Road Conference will examine the progress of the region’s mega road project which is set to grow at a rapid pace over the next 5 years, valued at an estimated $32 billion. The conference will also cover the international traffic management, (ITS), parking, road safety & maintenance of and transport infrastructure projects, such as multimodal systems and management have helped decrease accidents and the use of ITS technology in road safety. The third streamed seminar, Middle East Maritime Conference, will take an in-depth look at the different investments in the maritime industry, which are expected to reach $66 billion in the next three years, with the UAE contributing 30-35% of the Middle East’s projected total investment valued at $190 billion over the next three years. With the global significance of the Middle East’s ports and facilities is now more important than ever before and delegates will be presented with the latest industry developments. The conference will also feature international case studies about how operational and logistical challenges and complexities can be overcome. Speakers at NATRANS Arabia include Dr. Abdelgader Elshabani, Department of Transport, Abu
  • 3. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 3 Dhabi, Senior Transportation Planning Specialist, UAE; Mohammed Al-Mudharreb, Roads & Transport Authority (RTA), Director of Rail Operation, Rail Agency; and Loay Ghazaleh, Ministry of Works, Advisor to Undersecretary of the Ministry of Works, Bahrain. “In addition, over 50 ministers and including key government decision makers will be attending this year’s conference to discuss the potential partnership opportunities available right across the region,” added Heuff. Some of the key focus sessions include developing a competitive, sustainable and future-proof rail network for the GCC; effective interoperability among the new railway systems of the Middle East; integrated public transport for sustainable urban development; traffic management and surveillance; the role of automation in efficient port operations; the use of geo-spatial technologies in port security, plus a series of country transport project updates. Running alongside the conferences is an exhibition accommodating over 100 exhibiting companies that is divided into four themed zones compatible with the conference streams, plus an extra zone showcasing intelligent transport systems. The exhibition is likely to attract in excess of 2,500 trade visitors. The exhibition has already attracted key support from the European Parking Association (EPA) and MAFEX, the Spanish Railway Association plus sponsors Laborex and LGW.
  • 4. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 4 DEWA reviews bids for first phase of Hassyan clean-coal power plant after receiving lowest international tariff ( WAM +NewBase) Dubai Electricity and Water Authority (DEWA) has opened the bids it has received for the first phase of the Hassyan clean-coal power plant, which is based on the Independent Power Producer (IPP) model. The first phase of the 1,200MW project is expected to be operational by 2020. Four global bidders have been shortlisted after opening the bids. They will be evaluated and the best bid will be selected based on the criteria developed by the advisory committee that oversees the project. DEWA previously extended the bid deadline for the first phase of the IPP Hassyan clean-coal power plant to accommodate requests from developers. The deadline was extended to 30 April 2015. The lowest price among the bids that DEWA received is US$4.9 cents/kWh. "The Hassyan Clean Coal Power Project reflects our commitment to the vision of His Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, to diversify the energy mix. It also reflects our commitment to our goals to energy diversification and sustainability of resources, and achieving the Dubai Integrated Energy Strategy 2030, which focuses on producing electricity from clean coal as part of Dubai's energy mix," said HE Saeed Mohammed Al Tayer, MD and CEO of DEWA. Al Tayer noted that this is a major step in implementing the energy diversification strategy approved by the Dubai Supreme Council of Energy, which focuses on producing electricity from clean coal as part of Dubai's energy portfolio. He noted that the Hassyan power plant uses ultra-supercritical technology to produce energy according to the highest international standards set by the European Union. Last year, DEWA awarded the consultancy service contract for the first phase of the IPP project to an international consultant. Al Tayer expressed his satisfaction with the wide interest in the project from international developers. He noted that the wide international participation in this vital field reflects the trust and interest of international investors to invest in large projects supported by the Government of Dubai. Al Tayer noted that DEWA is working to diversify its energy sources and increase its share of renewable energy. He explained that the Dubai Integrated Energy Strategy 2030 initially set the percentage of renewable energy in Dubai’s energy mix to be 1% by 2020 and 5% by 2030 but DEWA has increased this target to 7 % by 2020 and 15 % by 2030. The Dubai Integrated Energy Strategy 2030 diversifies Dubai’s energy mix to include 71% from gas, 7% from clean coal, and 7% from nuclear power.
  • 5. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 5 India: ONGC Makes Two Oil, Gas Discoveries Offshore Natural Gas Asia + NewBase Indian state owned energy firm ONGC has made two significant oil and gas discoveries off India’s east coast. The first discovery is in deep water NELP-I block KG-DWN-98/2, KG-PG Basin in the east coast of Andhra Pradesh state at the well KG-DWN-98/2-M-4. The well was drilled down to a depth of 3,246m. “Based on the subsurface geological, MDT / Mini DST and electro-log data, six hydrocarbon bearing zones with net pay of 78m have been established in this well. Object in the interval 2,900- 2,908m tested conventionally flowed oil at a rate of about 3,160 BOPD and gas at a rate of about 319,483 m3 /day,” ONGC said in a statement Wednesday. The discovery has enhanced the value of the block KG-DWN-98/2 and has opened up further area for exploration and appraisal, the company added. The second discovery was in shallow water NELP-VI block KG-OSN-2004/1, KG-PG Basin. The well was drilled down to a depth of 2,555m in water depth of 69m. On conventional testing flowed gas at a rate of about 209,405 m3/day through 24/64” choke, ONGC announced. NDA holds an estimated 92.30 million tons of oil reserves and 97.568 billion cubic meters of inplace gas reserves spread over seven fields. Verma said ONGC has submitted to the Directorate General of Hydrocarbons (DGH) a Declaration of Commerciality (DoC) for the oil find in the NDA and a detailed field development plan will be submitted within a year. ONGC bought 90 per cent interest in Block KG-DWN-98/2 from Cairn Energy India in 2005. Cairn still holds 10 per cent in the block. Before selling most of its stake and giving away operatorship of the block, Cairn made four discoveries in the area - Padmavati, Kanakdurga, N- 1 andR-1 (Annapurna). Subsequently, ONGC made six significant discoveries - E-1, A1, U1, W1, D-1 and KT-1 in NDA and the first ultra-deepwater discovery UD-1 at a record depth of 2,841 metres. The NDA comprises discoveries like Padmawati, Kanadurga, D, E, U, A, while the ultra deepsea UD find lies in SDA.
  • 6. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 6 Kenya: Africa Oil announces Kenya operations update Source: Africa Oil Africa Oil has provided an update on its appraisal program in the South Lokichar Basin, Kenya. In Kenya, the extensive appraisal program in the South Lokichar Basin continues. The Amosing- 1 and Amosing-2 wells have been completed in five zones with hydraulically controlled completions that permit independent tests of selected intervals without well intervention in preparation for an Extended Well Test (EWT) of the field. Initial rig-less flow testing during clean-up at a combined maximum rate of 5,600 and 6,000 bopd respectively exceeded expectations, demonstrating high quality reservoir sands which flowed 31 to 38 degree API dry oil under natural conditions. The EWT involves production and water injection testing to enable dynamic flow characterisation between wells in the Amosing stacked oil reservoirs. The full EWT will commence shortly and results are expected over the next few months. The Amosing-4 appraisal well was drilled on the flank of the field and successfully encountered 27 metres of net oil pay in thick upper reservoir zones proving the significant down-dip extent of the field. Elsewhere in the Lokichar basin, the Ekales-2 appraisal well reached a total depth of 4,059 metres and encountered an estimated 60-100 metres of net oil pay in the primary shallower objectives. This highly deviated well was also deepened to test the basin centre stratigraphic play where it intersected sandstones with elevated pressures and 50 metres of oil bearing sands, however operating conditions precluded logging and confirmation of any oil pay in this section. This was
  • 7. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 7 the first test of this exploration target and is very positive for the future upside potential of the South Lokichar basin above the significant oil resources already discovered. The Ngamia-7 appraisal well was drilled to test the Ngamia oil field's eastern flank and encountered up to 130 metres of net oil pay, expanding the proven extent of the field. The Ngamia-8 appraisal was drilled and encountered up to 200 metres of net oil pay in line with pre-drill expectations. The well was positioned in the centre of the Ngamia structure and static pressure data indicates the well is in pressure communication with the oil discovered in the neighbouring Ngamia-1A, Ngamia-3, Ngamia-5, Ngamia-6 and Ngamia-7 wells. Ngamia-8 will be completed as part of the Ngamia field EWT planned for mid-year which will also include the Ngamia-3 andNgamia- 6 wells. The extensive appraisal activities in Kenya, including the planned EWT, along with the development concept studies completed in 2014 will enable a draft Field Development Plan (FDP) to be prepared by end 2015. The current ambition of the joint venture partnership is to position the East Africa project, which will include the development of South Lokichar and Tullow's Lake Albert resources and an export pipeline, for possible sanction by the end of 2016, subject to receipt of all necessary permits and approvals. Good progress continues to be made towards development of these oil resources and as part of the ongoing collaboration between the Governments of Kenya and Uganda on the oil export pipeline, a joint technical adviser was appointed in late 2014. The independent technical studies being undertaken by the adviser, with extensive support from the Kenya and Uganda upstream partners, are progressing rapidly and should assist in the finalisation of the pipeline route. Africa Oil owns a 50% working interest in Kenya Blocks 1BB and 13T with Operator Tullow Oil holding the remaining 50%. Keith Hill, President and CEO, commented, 'We continue to be highly encouraged by the appraisal program in the Lokichar Basin which is above our expectations and confirms our belief that this is a world-class asset. We are working closely with our partners and the Kenyan Government to move the development project forward, particularly the export pipeline, which is the key to unlocking the value of this asset. The 3D seismic has been a great help in imaging new drilling targets in the basin and we plan to drill some high impact wells with the potential to add significant resources in the coming months.'
  • 8. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 8 Oil Price Drop Special Coverage Oil prices eased off 2015 highs on Friday Reuters + NewBase June Brent was down 86 cents at $65.92 barrel at 11:37 a.m. EDT (1537 GMT), after matching Thursday's 2015 peak of $66.93 and jumping 21 per cent in April. US crude for June delivery was down 84 cents at $58.79, after hitting a 2015 high of $59.90. US crude futures gained 25 per cent last month. Brent and US crude rallied between 20 and 25 per cent in April, helped by a weaker dollar and bets that a global supply glut would ease, following the June-to-January sell-off that halved prices from above $100 a barrel. News that Iraq's oil exports rose in April to a record 3.08 million barrels per day (bpd) from 2.98 million bpd in March served as a reminder of ample supply in the market. Iraq's data highlights increasing output from OPEC members, whose supply in April rose to its highest in more than two years at 31.04 million bpd, according to a Reuters survey. Despite a sharp drop in new US shale drilling in recent months, there have been few signs that a global supply glut is easing, and there are some signs that US oil production may not fall significantly in the near future. A fresh snapshot of US drilling activity is due from services firm Baker Hughes Inc later on Friday, after last week's report showed companies idled 31 oil rigs. "Any evidence of a slowed rate of
  • 9. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 9 decline such as a drop of less than 15-20 could spur some selling," said Jim Ritterbusch, president at Ritterbusch & Associates. "On the flip side, a drop of more than 30-35 will likely force some new highs," Ritterbusch said. Futures and options trades suggest U.S shale producers are locking in production costs for next year, which could pave the way for a rebound in production. Opec output unchanged as Saudis show no letup BY BLOOMBERG NEWS + NewBase Opec oil production was little changed in April near the highest level since November 2012 as Saudi Arabia pumped 10 million barrels a day. Production by the Organisation of Petroleum Exporting Countries (Opec) slipped 1,000 barrels to 31.295 million a day, according to a Bloomberg survey of oil companies, producers and analysts. March's total was revised 267,000 barrels higher to 31.296 million a day, mostly because of a change to the Saudi estimate. Prices tumbled the first quarter of this year as US output surged to the highest level in more than four decades and Opec members pumped more barrels. The 12-member group left its production quota unchanged at a November meeting, prompting speculation that it would let crude slide low enough to curb shale development in the US. "The high Saudi number is what sticks out," Julius Walker, senior consultant at JBC Energy in Vienna, said on Thursday by phone. "The consensus view is that the Saudis are going to continue with their present policy. The market continues to be substantially oversupplied." Trimmed output Saudi Arabia, Opec's top producer, trimmed output by 100,000 barrels a day to 10 million in April. March output was revised 330,000 barrels a day higher to 10.1 million. The country sold oil at a higher-than-projected rate in March as a result of the biggest discounts in at least 15 years. The oil market is in "excellent" condition, Prince Abdulaziz bin Salman, Saudi Arabia's deputy oil minister, said on Monday. Oil Minister Ali Al Naimi stressed earlier this month that the kingdom won't yield market share to higher-cost producers.
  • 10. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 10 America’s Oil Drillers Idle Rigs for 21st Straight Week Bloomberg + NewBase Oil explorers idled rigs in U.S. fields for the 21st straight week, extending an unprecedented retreat in drilling that has curbed domestic output and helped crude prices rally. Rigs targeting oil in the U.S. declined by 24 to 679, Baker Hughes Inc. said on its website Friday, the lowest level since September 2010. Texas’s Eagle Ford formation lost the most, dropping seven to 91, the Houston-based field services company said. The Williston Basin, home of North Dakota’s prolific Bakken shale, added a rig for the first time in five months. U.S. energy producers have sidelined more than half of the country’s oil rigs since October, suspending production growth from the nation’s shale formations and helping end the rout in West Texas Intermediate oil prices that began last year. Crude output has fallen three out of the last five weeks. WTI futures capped their biggest monthly advance since 2009. “If you continue to see these rig counts decline and wells not being completed, you could be losing something like 70,000 to 100,000 barrels a day every month by the end of this year,” Scott Treadwell, a TD Securities Inc. research analyst, said during a conference in Calgary. “That will put a floor on WTI very quickly and the discussion when we’re short of production won’t be about storage volumes getting full. It will be about storage volumes getting emptied.” The U.S. benchmark West Texas Intermediate oil for June delivery dropped 48 cents to settle at $59.15 a barrel on the New York Mercantile Exchange. Prices advanced 25 percent in April, the biggest monthly gain since May 2009. Slipping Output Domestic oil production averaged 9.37 million barrels a day in the week ended April 24, down from the record 9.42 million reached in March, U.S. Energy Information Administration data show.
  • 11. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 11 Stockpiles at Cushing, Oklahoma, the biggest U.S. storage hub, shrank for the first time since November. “In our view, there is no doubt that U.S. output is falling, and that the pace of decline is likely to accelerate in coming months,” Standard Chartered Plc analysts including Nicholas Snowdon, said in a research note April 27. The number of oil rigs drilling in U.S. shale plays would have to rise by 200 just to stabilize output, Snowdon said. “This is unlikely to happen this year,” he said. U.S. oil drilling is subsiding as the Organization of Petroleum Exporting Countries, which accounts for about 40 percent of the world’s oil, resists calls to curb output. OPEC members pumped 31.295 million a day in April, near the highest level since November 2012, according to a Bloomberg survey of oil companies, producers and analysts. Production Forecast While U.S. output may decline between the second and third quarters, Goldman Sachs Group Inc. projected on April 26 that production in the fourth will still be 200,000 barrels a day above year- earlier levels. And that’s not including the backlog of uncompleted wells that drillers may start bringing online, the bank said. “We see risk to our production modeling as skewed to the upside later this year,” Goldman said in a research note. “A rapid drawdown of the observed backlog of uncompleted wells could lead to higher production later this year and in 2016.” The Williston because the first of the major U.S. oil plays to add a rig since drilling began collapsing across the country. The basin rose by one to 80 this week, Baker Hughes said. Possible Rebound The U.S. total may rebound to as high as 1,300 rigs should oil trade in the mid-$70s, Allen Gilmer, chief executive officer of the Austin-based energy data provider Drillinginfo, said by phone on Friday. The count will bottom in about a month, he said. Whiting Petroleum Corp., the biggest oil producer in North Dakota’s Bakken shale, will put rigs back to work when oil prices rebound to $70 a barrel, James Volker, the company’s chief executive officer, said in a conference call with analysts on Thursday. “Some of the rigs that we’ve released,” he said, “we can get back and pick up quickly.”
  • 12. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 12 Saudi oil policy to see continuity By: Sayed Hussain ( Energy outlook ) + NewBase WE are a witness to monumental changes! And the Saudi energy sector is no exception. It is also undergoing massive structural changes - at an unprecedented pace. With Saudi Arabia, the world’s largest crude oil exporter and the Opec kingpin, crucially and strategically important to the global energy balance, the energy world remained glued to Riyadh, trying to decipher and understand the impact of the management changes on Saudi oil policy. A number of measures - directly connected to the energy world - were announced over the last few days. Saudi Arabia’s Supreme Economic Council approved a restructuring of global oil giant Saudi Aramco, separating it from the oil ministry, it was revealed on Friday. “Saudi Supreme Economic Council agrees on Deputy Crown Prince Mohammed bin Salman’s vision of restructuring oil-giant Aramco,” it was reported in the press. “Restructuring of Saudi Aramco includes separation from petroleum ministry.” Also a 10-member supreme board, led by Deputy Crown Prince Mohammed bin Salman, was announced to oversee the company’s affairs. The Supreme Petroleum Council, which previously set oil policy and was led by the king, will be dissolved, the statement clarified. Earlier on Wednesday, King Salman announced appointing Saudi Aramco’s chief executive, Khaled Al-Falih, as chairman of the state oil firm and health minister. Amin Nasser was inducted as the acting CEO. Falih has been the CEO of Aramco since January 2009. He has been with the company for more than 30 years, and as CEO he has worked to modernize the company, making it more like its Western rivals. “He has been the CEO of Aramco, and he’s a man of considerable capability and breadth, and he is really respected throughout the oil world,” Daniel Yergin, was quoted in the international press as saying. And despite all the upheaval and the restructuring in Riyadh, the industry veteran, the octogenarian Petroleum Minister Ali Al-Naimi, known for his characteristic regular brisk walks in Vienna - during Opec ministerials - often pursued by a posse of reporters hanging on his every word - continues to steward the Saudi energy affairs. Despite some buzz within the energy fraternity about him hanging his boots and soon enough - he continues - providing a sense of continuity and stability to the energy world - in these rather turbulent times. In continuing with him, the King has once again reposed full confidence in him!
  • 13. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 13 Having served as the kingdom’s oil minister since 1995, Ali Al-Naimi is widely viewed as the mastermind behind Opec’s decision in November not to cut oil production below its current level of 30 million barrels a day, which would have reduced supply and bolstered prices that had been plunging since late June 2014. That the markets are showing some life now - underline that the policy was working. In recent days too, Saudi Arabia has been underlining; it would keep pumping oil to meet any demand for its supplies as it seeks to defend its share of the market. The oil market is in “excellent” condition, Prince Abdulaziz Bin Salman, Saudi Arabia’s deputy oil minister, told reporters on Monday in Al-Khobar. The kingdom seeks to keep customers happy and maintain stability of prices, demand and supply, he emphasized. “Saudi Arabia is interested in maintaining its share in the market and interested in keeping its customers,” Prince Abdulaziz said. “We will supply any demand for Saudi oil, as we are interested in the stability of the market. Stability includes price, supply, and demand stability,” he added. “Saudi Arabia responds to demand in the market,” Prince Abdulaziz added. “We will provide oil to whoever asks for it.” Minister Ali Al-Naimi has been at the forefront - leading the Saudi campaign to let market forces determine the oil prices and not the traditional lever of OPEC output. He too had been stressing in recent months that the Kingdom won’t yield market share to higher- cost producers.Riyadh hence continues to pump at elevated levels. It pumped at close to a record pace in March, the International Energy Agency reported on April 15. To many, Minister Ali Al-Naimi’s survival is also a signal that King Salman was satisfied with Saudi oil policy, and that the restructuring in Riyadh were unlikely to affect Saudi oil production policy. “I don’t think there’s been any disagreement (within the Saudi leadership) about the idea of keeping up production, maintaining market share, refusing to be a swing producer,” Clement M. Henry, a professor at the Middle East Institute of the National University of Singapore was quoted by Reuters as saying. John Kilduff of Again Capital says the changes in Saudi Arabia appear supportive of the price of oil, which has begun to be more impacted by geopolitical events in recent weeks. Eugen Weinberg, head of commodity research at Commerzbank, is of the view that although it was too early to tell, yet any output change in Saudi policy were unlikely, given hints about supplying extra oil to Asia. “The focus should remain on its (Saudi Arabia’s) market share and the latest talk by (Ali al-Naimi) seems to support this view along; ‘we stay ready to supply more to Asian clients thanks to their
  • 14. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 14 stronger demand’,” he told CNBC. “I don’t think it (the changes) will have much impact,” Thomas Pugh, commodities economist at Capital Economics, was quoted by CNBC as saying. And there are already hints that the Kingdom is already working to increase its production capacity. James Williams, an energy economist at WTRG Economics, is of the view that the most recent data from Baker Hughes shows that Saudi Arabia had 125 active oil and gas rigs in March of this year, up from 96 the same time a year earlier. The total represents an all-time high, according to Williams. He emphasized the number of active oil rigs is at a record too. The rig count has climbed despite the fact that the “world market was still flooded with oil,” Williams said. “This indicates that the Saudis are expanding production capacity,” he noted. One of the hallmarks of the Saudi oil policy has been stability and continuity. Despite some major changes at the top in Riyadh, the signals emerging are that Riyadh would continue to bet on the same. The oil policy of the Kingdom is not expected to undergo much change - at least in the shorter term.
  • 15. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 15 NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE Your partner in Energy Services NewBase energy news is produced daily (Sunday to Thursday) and sponsored by Hawk Energy Service – Dubai, UAE. For additional free subscription emails please contact Hawk Energy 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 03 May 2015 K. Al Awadi
  • 16. Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed, or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this publication. However, no warranty is given to the accuracy of its content. Page 16