Chinese bid for Unocal sparks fears of global clash over energy resources

A bid by China's state-owned offshore oil company for a privately-owned US upstream corporation has raised fears of a Chinese takeover of several other foreign companies as Peking tries to secure oil and gas reserves to fuel the country's booming economy. The China National Offshore Oil Corporation (CNOOC) has offered $19.6 bn for the California-based company, Unocal, the eighth-largest upstream company in the US in terms of reserves. The bid trumps an earlier one of $18.4 bn by US major Chevron, which had been accepted by Unocal's board and appeared to have the backing of many leading political figures in the US.     

Hungary's MOL expands out of trouble

Hungary's oil and gas group MOL is expanding its operations abroad. It has just bought an Italian refining and marketing company and has agreed to a strategic alliance with a Czech power utility. These latest moves have come against the background of a battle with one of MOL's early strategic partners, the Austrian company OMV, which has recently raised its shareholding in the Hungarian company from 9% to 19%. MOL regards the move as the first stage of a hostile takeover and appears to be trying to become too big for its Austrian neighbour to swallow. The two companies are roughly similar in size. OMV's market capitalization is $20bn, whilst MOL's is just over $16bn.     

Modelling the Iranian Petroleum Contract fiscal regime using bargaining game theory to guide contract negotiators

Based on Iran's sixth development plan,the country's oil and gas industry requires an investment of about $200bn in the next five years to increase production.T...     

Hurricane in US, chaos in Iraq and even more price records

This section summarizes downstream developments of the previous month. Exploration & Production are covered in 'Upstream Review'.
A hurricane named Katrina devastated oil installations along the US Gulf Coast as well as the city of New Orleans, sending oil prices to new record levels. Nearly 1.4 mn bpd of offshore oil production was shut-in, along with 8.3 bn cfd of the Gulf's natural gas. More production was closed down onshore along with nearly 2.4 mn bpd of refining capacity. Crude and product prices shot up worldwide. The 30th August saw October WTI close at a record $69.81/bbl, having traded earlier in the day up to $70.85/bbl. On 31st August, Nymex gasoline closed at a new high of $2.6145/gall as the Gulf Coast's refineries remained off-line. Gulf spot prices rose above $3/gall. The following day, October heating oil set a new record by closing at $2.1985/gall. Records fell outside the US, with Tapis at $70.97 on 31st August. The previous day saw IPE October Brent settle at a record $67.57, whilst the November and December contracts both saw trades above $69.00/bbl. Natural gas prices also moved into record territory in the US, topping $12 per mn BTU on Nymex during the morning of 30th August.     

世界各国天然气出口能力及中国境外投资选择

为了多维度地掌握世界天然气供应能力及变化趋势,给我国的天然气进口及境外投资合作提供更准确的选择角度和依据,基于BP 2015年生产交易数据和IMF经济数据,采取3种方式进行综合分析,以寻找、比较、发现各国包含的机会和风险:①根据时间序列数据分析全球陆上管道气与LNG出口趋势;②根据横截面各项数据对天然气生产国进行分项排名,最后按算术平均值确定综合排名;③对主要国家天然气政策及出口前景进行分析预测。结果表明:①2005-2014年,天然气出口量的增长趋势受经济形势影响较大,LNG在全球贸易中的比重由26%上升至33.4%,天然气全球化趋势不可逆转;②在全球天然气主要生产国生产和出口能力方面,美洲、欧洲及欧亚大陆国家、中东、非洲以及亚洲各有其特点;③市场化呈上升的趋势,美国未来天然气出口前景较乐观,不同政策和国情影响出口能力。结论认为,中国目前对进口目标国或天然气生产和投资目标国的选择总的来说是合理的。     

Violence in Iraq, sabotage in Nigeria and strikes in Europe

This section summarizes downstream developments of the previous month. Exploration & Production are covered in 'Upstream Review'.
An upsurge of violence in Iraq threatened a recovery in output that began earlier this year. Production in the northern fields hit a post-invasion high of 620,000 bpd in March, rising by 180,000 bpd in one month. Fighting in the south, however, cut production there by more than 100,000 bpd as government troops tried to subdue Shi'ite militias in and around Basrah. Oil installations damaged in the south included a pipeline and a pumping station. The Iraqi government nevertheless announced that oil production would reach 2.9 mn bpd by the year's end, requiring an increase of nearly 500,000 bpd over April 2008 levels. Foreign help is to be sought via a series of technical service agreements and - later this year - an upstream licensing round. Japan's Ministry of Economy, Trade and Industry says it wants a bigger role for Japanese oil companies in both the upstream and downstream sectors in Iraq. Kurdistan says it is negotiating with Baghdad to export oil produced from new oil fields there. The central government does not recognize production agreements drawn up by the Kurdistan Regional Government. The EU - desperate for gas to fill its Nabucco pipeline - has approached Iraq for up to 1 bn cfd.     

EU wrong-footed as Russia moves ahead with new export pipelines

Whilst the European Union (EU) tries to find new sources of gas imports outside Russia, Moscow is pre-empting any such moves to lessen the EU's dependence on Russia by announcing new plans to bring gas to Central and Western Europe. A major new gas export line has been brought nearer by an agreement to route the South Stream gas pipeline via Serbia, whilst another export project has just been agreed under which Russia will provide a conduit to Europe for gas from Kazakhstan and Turkmenistan.     

Ukraine gas crisis rumbles on as west again affected

Russian disagreements with Ukraine have continued despite the earlier settlement of a dispute over gas pricing ( see 'Focus', January 2006 ). Deliveries of Russian gas to the west have again been disrupted amid accusations from Moscow that Ukraine has been abstracting more gas from Russia's export pipeline than it is contractually entitled to. The problem, however, appears to originate in Russia, where cold weather has caused domestic demand for gas to soar, leaving less available for export.     

Chinese gas market draws investors

With annual growth of 15% expected between now and 2020, China's booming gas market is attracting increasing numbers of inquiries from potential foreign investors. Consumption is expected to rise sharply once imports of LNG begin in 2006. Six import terminals have already been announced with a further 13 awaiting final approval. In addition, there are proposals to bring in natural gas by pipeline from Russia and Central Asia. By 2020, the Chinese gas market is estimated at 19.5 bn cfd: about half the size of the current Western European market.     

中美天然气现行价格水平及走势比较分析

近几年,随着气荒现象的频繁出现,天然气供需和价格问题成为社会各界普遍关注的焦点。随着美国页岩气大规模的开发,美国天然气价格出现了大幅度跳水,由2008年的约2200元/103m3下降到2009年的约980元/103m3;而我国在经历了2010年天然气价格改革后,目前天然气井口基准价由之前大大低于美国到目前高出美国约30%。在对大量最新数据的研究和分析的基础上,以中美两国天然气市场的供需现状分析为重点,从天然气资源供给、需求、受周边市场影响程度、市场发展阶段等方面探索中美两国天然气价格水平及走势差异的原因。     

中亚出口天然气管道建设规划及对中国引进天然气资源的影响

介绍了中亚三国（哈萨克斯坦、土库曼斯坦和乌兹别克斯坦）在东、南、西、北4个方向上的天然气管道建设规划。针对中亚三国天然气资源丰富、出口潜力较大、需要强大的资金和技术投入的情况,从中亚三国可供出口的天然气资源、出口方向的争夺、出口天然气气价这3个方面,论述了对中国引进中亚地区天然气资源所产生的影响。     

Italy makes slow progress on LNG imports

Italian plans for a large increase in imports of liquefied natural gas (LNG) have moved a step nearer to realization with the announcement of the final approvals for a receiving-terminal at Rovigo in the northern Adriatic. Ten such terminals have been proposed, with a total capacity of up to 7.5 bn cfd, but all have run into objections of one kind or another, and the programme is well behind schedule. The Rovigo facility was originally proposed in 1997, but has run into political difficulties at both the local and national levels. It is not expected to be operational before late 2007.     

Iraqi violence, Saudi attack and further bombings

This section summarizes downstream developments of the previous month. Exploration & Production are covered in 'Upstream Review'.
Iraq moved closer to all-out civil war following an attack on the Imam Ali al-Hadi mosque in Samarra, one of Shi'i Islam's holiest shrines, on 22nd February. In the days that followed, several hundred Iraqis died in inter-communal violence. Attacks on installations close to the Basrah Oil Terminal were reported. Earlier in the month, the main oil storage facility in Kirkuk was bombed, forcing the Northern Oil Company to shut-in the 0.3 mn bpd field. Oil and electricity supplies in southern Iraq were cut by attacks on installations some 40 miles south of Baghdad. Turkey agreed to resume product exports to Iraq after a deal was agreed on repaying Iraqi debts of $1 bn to Turkish suppliers. An official Australian inquiry into illegal payments made under the UN's oil-for-food programme is to investigate allegations involving two Australian-controlled oil firms.     

Natural Gas Prices May Trend Up Only by 2020

There is one major question preoccupying natural gas producers and electricity generators: Is there a reasonable scenario where natural gas prices break from their current slump and extend beyond $4.00 per million Btu's in the near future? That scenario is difficult to imagine after natural gas prices bottomed below $2.00 per million Btu's in 2012, strengthened in 2013 and 2014, and then retrenched to a 2015 range of $2.50–$3.40 per million Btu's (through the end of July). A combination of a warmer‐than‐usual 2014–15 winter and increasing production has pushed storage levels beyond the five‐year trailing range and has kept prices depressed.     

Iraqi law opposed, worries about security and a petrol mystery

This section summarizes downstream developments of the previous month. Exploration & Production are covered in 'Upstream Review'.
Iraq's Cabinet has approved a controversial draft law permitting foreign oil investment and allowing regional governments to negotiate directly with foreign companies. Many in Iraq say the law is being imposed on the government by Washington as a way of ensuring that US oil companies have a large role in the production of Iraq's oil. There is also opposition to the idea that regions such as Kurdistan and the Shi'i-dominated south should have an important role in oil policy. Moreover, there is still no firm agreement on how Iraq's oil revenues are to be shared between the various provinces. An important gas export project looks unlikely to go ahead, following Kuwait's decision not to refurbish a pipeline designed to import gas from Iraq's South Rumailah field after Iraq failed to build the infrastructure to export the gas.     

子洲-米脂气田集输工艺运行分析及对策研究

子洲-米脂气田集气站自2007年8月投产以来,由于站内不注醇的工艺现状决定集输工艺运行中必须确保所有单井在节流后不形成水合物,从而导致集气站分离温度较高、集输支干线内出现天然气反凝析现象、集输管网运行压力上升速度加快等问题。从工艺改造方面提出解决对策,确保集气站外输天然气气相输送。     

靖边气田脱硫脱碳装置腐蚀现状及防护措施

靖边气田的原料天然气中CO2和H2S含量较高,为保证外输商品气的质量要求,净化厂中设置了多套脱硫脱碳装置,对天然气进行处理。在运行过程中,脱硫脱碳装置中的设备及管线腐蚀现象严重,出现了管线穿孔,设备筒体内表面出现穿透性裂纹、纵向裂纹、坑蚀、台面腐蚀,换热器和重沸器管束渗漏、泄漏等问题,需不定期检修、更换,影响了生产的正常进行。经过对某套脱硫脱碳装置的整体分析认为,溶液中的CO2含量偏高,塔盘类型及结构参数不合理,再生塔塔体选材有待改进等因素是造成腐蚀严重的原因。在对该套装置进行改造时,改变了脱硫脱碳的溶液载体和塔盘类型,优化了塔盘的结构,对再生塔的材料进行了综合考虑。经过现场近一年的运行证明,装置的改造降低了酸气负荷,减轻了腐蚀状况。     

天然气压缩机在浅海油田开发中的应用

随着胜利浅海埕岛油田开发．原油伴生气逐渐增多，渐渐具备外输的经济价值，为此，建设了埕岛中心二号天然气外输工程。文章主要介绍了外输系统的核心设备——JGK／4天然气压缩机的基本技术性能，总结了天然气压缩机的应用过程，根据生产实际情况，进行了多种技术改进，提出了系统当前存在的缺陷和改进方向。     

Iran struggles to expand gas industry

Iran has ambitious plans to increase its production of natural gas. Part of the aim is to substitute gas for oil in the domestic market in order to allow more oil to be exported; but Iran also wants to export some of the gas. It is proving difficult, however, to realise these plans.     

阿姆河净化天然气外输站燃气轮机驱动离心式压缩机运行分析

中国石油(土库曼斯坦)阿姆河公司净化气外输站是阿姆河右岸合同区年输130×108 m3天然气出口交接场站,站内安装的单台年处理50×108 m3燃气轮机驱动离心式压缩机是站内的核心设备,主要是将上游净化后的天然气增压计量后输送至中亚天然气管线。从该机组设计、运行、故障等方面,总结并分析了燃气轮机驱动离心式压缩机实际运行中的技术性能、特点,提出了合理的运行方案并实施,取得了一定的成效。