MOL: LNG Carrier Delivered for SINOPEC LNG Project
Mitsui O.S.K. Lines, Ltd. today announced that the LNG carrier CESI Qingdao — ordered by a joint venture of MOL, China COSCO Shipping Corporation Limited and China Petroleum & Chemical Corporation (SINOPEC) — was delivered at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong) on January 6. The CESI Qingdao is the second vessel to serve the China FOB Transportation Project” (*1) announced in April 2013, and will sail under a long-term charterto transport LNG that SINOPEC purchases from the Australia Pacific LNG project. A total of 6 LNG carriers will be built at Hudong for the project.
Mitsui Delivers Second LNG Carrier to Sinopec
Mitsui O.S.K. Lines (MOL) has announced that the LNG carrier CESI Qingdao - ordered by a joint venture of MOL, China COSCO Shipping Corporation Limited (China COSCO Shipping) and China Petroleum & Chemical Corporation (SINOPEC) - was delivered at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong) on January 6. The CESI Qingdao is the second vessel to serve the China FOB Transportation Project" announced in April 2013, and will sail under a long-term charter to transport LNG that SINOPEC purchases from the Australia Pacific LNG project.
Offshore Accommodation Vessel Contract for Prosafe
Prosafe awarded a contract for its 'Regalia' vessel at the North Sea, Montrose Platform, of Talisman Sinopec Energy UK. The contract has been awarded following a competitive tendering process and is for a firm period of 450 days with on-site operations planned to commence late August 2014. In addition, Prosafe has granted Talisman Sinopec Energy UK four one-month options. Total value of the contract for the firm period is approximately USD 137.5-million. Prosafe, headquartered in Larnaca…
CIMC Raffles Delivers Jack-up Rig to Sinopec
A Jack-up Drilling Rig which was constructed by CIMC Raffles with Sinopec Independent design named “New Sheng Li 1#” was delivered to Sinopec Sheng Li Petroleum Engineering Co., Ltd. at CIMC Raffles on 6th June 2014. This was the 7th Jack-up drilling rigs that CIMC Raffles has delivered. It will be towed to Bohai Bay providing drilling service to Sinopec Sheng Li Oilfield soon. CCS and CIMC Raffles top leaders attended the delivery ceremony. “New Sheng Li 1#” was the first new-build offshore drilling rig since Sinopec Oilfield Service Corporation was founded in 2012.
Sinopec Plant Resumes Diesel Export after Blasts
A Sinopec Corp -operated refinery in the northern Chinese city of Tianjin resumed exporting diesel this month after a five-month halt following massive explosions in the port area, a Sinopec-run industry paper reported on Friday. Sinopec's unit, Tianjin Petrochemical Corp, loaded 26,800 tonnes (200,000 barrels) of diesel in early February for export, the first such shipment since last August after the blasts led to a halt in fuel exports as the government tightened safety measures, China Petrochemical News said. In August, two huge explosions had ripped through an industrial area in Tianjin where toxic chemicals and gas were stored, killing at least 50 people.
Havyard to Design PSV for Sinopec
Havyard says it is to deliver a design package for the construction of a Havyard 832 L SE Platform Supply Vessel (PSV) at the Chinese shipyard Fujien Mawei Shipbuilding. This is the third time in a row for Sinopec to select Havyard design for their fleet renewal program. Earlier they have used Havyard design for the construction of a Havyard 843 AHTS, which was delivered in 2012 and a Havyard 832 PSV, which is scheduled to be delivered from Fujien Mawi Shipbuilding in February 2015. The latest PSV is scheduled to be delivered from Fujien Mawei Shipbuildingin March 2016.
China J/V to Buy Six LNG Carriers
China Shipping Development and Sinopec Kantons are to spend HK$11.71 billion to buy six LNG carriers, which will be chartered to Sinopec. The two companies have set up a joint venture China Energy Shipping Investment (CESI) which is 51 percent controlled by China Shipping and 49 percent by Sinopec Kantons, for the deal, reports the 'Hong Kong Standard'. Both companies said the deal is to expand their logistics business. China Shipping consider that steady rental income will be generated as Sinopec will lease the carriers for the transportation of LNG to and from its Australia Pacific Project. The delivery date of the six LNG carriers will be from April 2016 to November 2017. Source: Hong Kong Standard
Sinopec Rolls Out Beihai LNG-import Terminal
China Petroleum and Chemical Corp (Sinopec) has taken delivery of the first LNG cargo at its new terminal at Beihai City in Guangxi Zhuang, with the arrival yesterday of the LNG carrier Methane Spirit, delivering a cargo from ConocoPhillips-operated Australia Pacific LNG (APLNG)project in Australia. The cargo was delivered onboard the 160,000 cbm Methane Spirit LNG carrier, Sinopec said. Located in Guangxi Zhuang autonomous region, the facility is the second of five LNG terminals…
BP, Sinopec in Singapore-based Bunkers JV
British oil major BP and China's Sinopec Fuel Oil are starting a Singapore-based joint venture in ship fuel storage and sales, BP said in a statement on Tuesday. The 50/50 joint venture, which builds on a similar agreement signed in 2011, will leverage both companies' existing bunkering locations and activities to deliver marine fuel to their customers, with a strong focus on Chinese shipping companies, a BP spokeswoman said in an email. Shanghai, Ningbo and Shenzhen, China," the statement said. Unlike the Singapore market which is open to around 60 suppliers, the Chinese marine fuel market is limited to only a few players, including Sinopec, Chimbusco and Brightoil, trade sources said.
BP, Sinopec JV for Marine Fuel
British oil major BP and China’s Sinopec Fuel Oil have formed a marine fuels bunkering joint venture (JV), BP Sinopec Marine Fuels Pte Ltd. Under the deal, the 50-50 percent joint venture, BP Sinopec Marine Fuels Pte Ltd, would be based in Singapore and provide ship fuel storage and sales. “Based in Singapore, one of the largest and busiest ports in the world, the joint venture will build out from its partners existing bunkering locations and activities. In addition to marine bunkering in Singapore…
MOL Delivers LNG Carrier CESI Beihai to SINOPEC
Mitsui O.S.K. Lines (MOL) today announced that the LNG carrier CESI Beihai-ordered by a joint venture of MOL, China COSCO Shipping Corporation Limited (China COSCO Shipping), and China Petroleum & Chemical Corporation (SINOPEC)-was delivered at Hudong-Zhonghua Shipbuilding (Group) (Hudong) in Shanghai on June 1. The CESI Beihai is the third vessel to serve the China FOB Transportation Project" announced in April 2013, and will sail under a long-term charter to transport LNG that SINOPEC purchases from the Australia Pacific LNG project.
YPF Oil Extends Operating Agreement with Sinopec to 2027
Argentina's state oil company YPF agreed Friday to extend its operation until 2027 in partnership with a local unit of China's Sinopec oil in an area of a province in the center-west of the country, which represent an investment of $ 300 million, the company said in a statement. The new agreement between the two firms, whose contract expired working together in late 2016, provides for a change in the participation of society, with 70 percent by YPF and 30 percent for Sinopec Argentina versus ratio prior 60-40. It is the exploration and development in the productive area La Ventana, located in the province of Mendoza Argentina and has an area of 480 square kilometers. The area currently produces about 6,000 barrels a day.
Sinopec's Profit up at 32.5 billion yuan in 1H, 2014
Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%. Semi-annual report and display, from January to June the company achieved operating income of 52.268 billion yuan, an increase of 11.8%; basic earnings per share of 0.279 yuan, up by 6.5%, mainly due to the refining and marketing segment operating income grew. The same period…
Ship Bunkering – Chinese & Greek Suppliers Forge Alliance
Aegean Marine Petroleum Network Inc. announce it signed a Memorandum of Understanding to establish a strategic alliance with China Changjiang Bunker (Sinopec) Co. Ltd. (CCBC), a Chinese state-owned enterprise jointly owned by SINOPEC Sales Co., Ltd. and SINOTRANS & CSC. CCBC is one of China's five state-certificated bonded bunker suppliers and among the largest bunker supply companies in China. The strategic partnership, which is expected to become effective during the second quarter of 2012 upon completion of final documentation, will enable Aegean to meet the marine fuel needs of its customers in mainland China. Under the terms of the agreement…
LNG Carrier CESI Tianjin Delivered for SINOPEC LNG Project
Mitsui O.S.K. Lines (MOL) announced that the LNG carrier CESI Tianjin, which was ordered by the joint venture of MOL, China COSCO Shipping Corporation Limited (China COSCO Shipping) and China Petroleum & Chemical Corporation (SINOPEC), was delivered at Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. (Hudong) on September 26. The CESI Tianjin is the fourth vessel to serve the LNG transport project for SINOPEC announced in April 2013, and will sail under a long-term charter contract to transport LNG that SINOPEC will purchase from the Australia Pacific LNG Project.
Dow Awards Aker Kvaerner Contract
The Union Carbide Chemicals & Plastics Technology Corporation (UCCPTC), a subsidiary of The Dow Chemical Company, has awarded Aker Kvaerner an engineering contract to assist in the development of process design packages and extended process design packages for two Ethylene Oxide/Ethylene Glycol (EO/EG) plants that will use the METEOR(TM) LEC EO/EG technology. The plants will be built in the People's Republic of China by subsidiaries of Sinopec under a license from UCCPTC. One project is at the Sinopec Tianjin one million tonne per annum (TPA) ethylene complex in the Dagang District of Tianjin, and the second is at Sinopec Zhenhai Refining and Chemical Company's production facility in the port city of Ningbo, Zhejiang Province.
Trump Signs 43 Billion Dollar LNG Deal with China
On his visit to China, President Trump reaffirmed his commitment to form agreements that reduce the trade deficit with China by signing a deal to help the LNG industry in Alaska with three Chinese companies. The deal, which could be potentially worth $43 billion, involves Sinopec, the largest oil company in China, the sovereign wealth fund and one of China's largest bank. will work together to create 12,000 jobs in Alaska. The deal has the potential to reduce the US-China trade deficit by $10 billion a year.
Sinopec Tianjin Terminal to Receive First LNG Cargo
China Sinopec's new Tianjin terminal will receive first LNG cargo of 30,000-35,000 tonnes from Australia on Jan. 10, a source with the direct knowledge of the project said. Sinopec Tianjin terminal will start LNG sales at end of January, the source said. The Tianjin LNG project has the capacity to receive 3 million tonnes of LNG per year. Reporting by Meng Meng and Ryan Woo
Talisman Sinopec Closes North Sea Platform Ahead of Storm
Talisman Sinopec Energy UK has closed its Buchan Alpha platform in the North Sea, the company said on Wednesday, ahead of an expected severe winter storm. The Buchan Alpha is a floating production installation that contributes less than 5,000 barrels of oil per day to the Forties crude stream. A spokeswoman for the company, a joint venture between Canada's Talisman and China's Sinopec, said 61 non-essential personnel had been taken from the installation to Aberdeen, Scotland, in advance of the storm. "This was completed on December 8. A team of 15 remain on board and production remains shut down for the time being," she said. Britain's Met Office has issued an amber "be prepared" warning for Scotland…
Asian LNG Glut Deepens as Demand Falters
Demand in Japan, South Korea and China stalls; demand from new importers not enough to meet soaring supplies. Asia's liquefied natural gas (LNG) glut is set to deepen in 2016 as long-planned new production comes to the market just as demand from top buyers Japan and South Korea as well as China wanes. While analysts say that new consumer demand may offset dwindling use from established buyers, new supplies will outweigh overall orders, resulting in a low gas price outlook for years to come. "From having been an import basin, Asia will next year be going to have excess supplies and worse so in 2017," said David Hewitt, co-head of global oil and gas equity research at Credit Suisse.
MOL Takes Delivery of LNG Carrier
Mitsui O.S.K Lines Limited (MOL) has taken delivery of the LNG carrier Papua built by Hudong-Zhonghua Shipbuilding Company. The Papua is the first in a series of four vessels to provide LNG transportation for the PNG LNG project in Papua New Guinea and the Gorgon LNG project in Australia. MOL will operate the Papua ship under a long-term charter for the PNG LNG project, which is operated by ExxonMobil. In January 2011, MOL assigned technical experts to the shipyard in China and created a shipbuilding supervision team to ensure the safe and high-quality construction of these LNG carriers.
Aker Solutions Sign UK Continental Shelf Frame Agreement
Aker Solutions secures a 5-year frame agreement to execute contracts acrossTalisman Sinopec Energy UK Ltd's offshore brownfield projects. Although the contract contains no firm spending commitment, the anticipated multi-million pound agreement cements the long standing relationship between the two organisations. With a significant pipeline of projects within Talisman Sinopec Energy UK Ltd's portfolio, today's announcement reinforces Aker Solutions' strategic objective of growing its business in the UK.
Sinopec Demurrage Mounts on LNG Delivery Delay
Sinopec's LNG tanker floats off Gladstone for more than 2 weeks; demurrage costs climb to more than $500,000. The Australia Pacific LNG (APLNG) project has delayed its first commercial cargo, racking up costs for China's Sinopec Corp which has had a tanker waiting to load for more than two weeks, two sources close to the matter said on Tuesday. LNG tanker BW Pavilion Vanda, chartered by the Chinese company, arrived at the Gladstone anchorage on Dec. 18, but has yet to load a cargo, live ship-tracking data on Reuters Eikon showed. "The plant appears to have run into teething issues," one of the sources said, adding that there was no indication of when Sinopec's cargo would load.