Qatar ///
Fugro has completed the first phase of their multidisciplinary offshore site investigation for Qatargas’ North Field Production Sustainability’s Compression Phase.
The Gulf emirate entered into agreements with Daewoo Shipbuilding & Marine Engineering Co., Hyundai Heavy Industries Co. and Samsung Heavy Industries Co., according to a statement on Monday from state producer Qatar Petroleum.
Despite skepticism over the efficacy of the measures unveiled in mid-April by Saudi Arabia, Russia and their partners, compared to the immense hit to demand, the impact has been substantial. Oil prices have recovered by 60% in the past three weeks, as a pick-up in fuel use is complemented by the supply cuts.
OPEC presented a bleaker assessment of global oil markets for the second quarter as the coronavirus crisis continues to drain demand, days after some of the cartel’s biggest producers pledged to make even deeper production cutbacks.
Hemmed in by weak demand and scarce storage, the world’s biggest exporter of liquefied natural gas may soon face a stark choice: curb output or ignite a battle for market share that has the potential -- just as in the oil market -- to turn gas prices negative.
The project, awarded through engineering firm McDermott International, will see the firm deliver two of its EC750 cranes for installation on wellhead platforms, as well as an EC1000 crane for a riser platform.
OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia.
Qatar, the world’s biggest supplier of liquefied natural gas, plans to boost output capacity by almost two thirds after it adds production facilities to exploit recently discovered reserves.
Qatar Petroleum is set to join most of its Persian Gulf counterparts and price its crude before loading instead of afterward from next year, according to people familiar with the plans. That
Shrugging off a global supply glut that’s left liquefied natural gas prices struggling to recover from a three-year low, the world’s biggest producer of the fuel said it’s on track to expand production.
Qatar has invited Exxon Mobil Corp., Royal Dutch Shell Plc, Total SA, ConocoPhillips and other “big players” to submit bids to help expand its part of the world’s largest natural gas field, Energy Minister Saad Sherida Al-Kaabi said.
Ministers from OPEC+ are gathering in Abu Dhabi with deeper production cuts off the agenda for now, but with a backdrop of growing concern about the strength of oil demand as the global economy slows.
Seadrill and Gulf Drilling International have entered into a 50:50 joint venture, GulfDrill, which will initially manage and operate five premium jackups in Qatar with Qatar Petroleum commencing throughout 2020.
Australia is on track to surpass Qatar as the world’s largest LNG exporter, according to Australia’s Department of Industry, Innovation, and Science (DIIS). Australia already surpasses Qatar in LNG export capacity and exported more LNG than Qatar in November 2018 and April 2019.
EIA says unplanned crude oil production outages for OPEC averaged 2.5 MMbpd in the first half of 2019, the highest six-month average since the end of 2015.
McDermott International, Inc., announced it has been awarded a sizeable contract by Qatar Petroleum (QP) to carry out front-end engineering and design (FEED) work for offshore wellhead platforms, pipelines and cables associated with the North Field Expansion (NFE) project.
Sparrows Group has been awarded their first contract for the provision of rigging loft maintenance services in Qatar.
McDermott International, Inc. has announced a large* contract award from Qatargas for engineering, procurement, construction and installation (EPCI) for expansion of the North Field offshore facilities in the State of Qatar.
Baker Hughes, a GE company (BHGE), the world’s first fullstream oil and gas company, has signed a Memorandum of Understanding (MoU) with Qatar Petroleum (QP) to unlock new opportunities to expand its presence in the country and to support Qatar Petroleum’s Tawteen Program.
His Excellency Sheikh Abdullah Bin Nasser Bin Khalifa Al-Thani, the Prime Minister and Interior Minister, launched Qatar Petroleum’s Localization Program for Services and Industries in the Energy Sector “Tawteen” – an initiative to enhance localizing the sector’s supply chain and expand the small and medium enterprises base.