全球油气发展和市场分析报告英文版

全球油气发展和市场分析报告英文版06MAY2009AWEEK18SIAISSUE173NEWSANALYSISINTELLIGENCEPUBLISHEDBYOILGASMONITORNEWSBASECOMMENTARY2NEWSTHISWEEKKPCSPROGRESSINASIACONTRASTSWITHSTASISATHOME2KUWAITLOOKSTOASIAPERTAMINAPOSITIVEABOUTNATUNADPROSPECTS3FRUSTRATEDBYTHESLOWDEVELOPMENTOFMAJORPIPELINESTRANSPORT5PROJECTSATHOME,LEADINGKUWAITICOMPANIESAREHMMAKINGBETTERPROGRESSINASIAELTOLAYPIPELINESFORBATHINDAREFINERYPROJECT5SENIORKUWAITIOILOFFICIALSHAVETOUREDASIATOINVESTMENT5BOOSTBUSINESSANDENERGYTIESPAGE2ELEVENNEWINDONESIANOILANDGASBLOCKSAWARDED5KUWAITIINVESTMENTINVIETNAMSDOWNSTREAMPERFORMANCE6SECTORISSETTOGROWPAGE2INDIANOFFSHOREOPERATORSREPORTMIXEDPROGRESSOVERSEASISOFFERINGWELCOMERELIEFFROMRESULTS6FRUSTRATIONSCLOSERTOHOMEPAGE2COASTALENERGYUPGRADESTHAIRESERVEESTIMATES7POLICYPERTAMINAPOSITIVE7RILDEFENDSTHEINDONESIANGOVERNMENTHASRESTATEDITSIRANIANBUSINESSTIESINWASHINGTON7CONFIDENCETHATPRODUCTIONFROMTHENATUNADGASCAIRNFACESCRUDEPRICINGISSUES8FIELDISLESSTHAN10YEARSAWAYBUTANALYSTSPROJECTSCOMPANIES8REMAINWARYABOUTTHEPROJECTSPROSPECTSESSAROILTOTRIPLECAPACITYOFVADINARPERTAMINABELIEVESPRODUCTIONFROMNATUNADREFINERY8COULDBEGINASEARLYAS2017PAGE3NIPPONOILREPORTSSTARTUPOFPRODUCTIONFROMNORTHSEAFIELD9THECOMPANYWANTSTOCHOOSETWOFOREIGNCARNARVONANDPANORIENTOPTIMISTICPARTNERSTODEVELOPTHEFIELDPAGE3ABOUTTHAIOPERATIONS9NEWSINBRIEF10THAILANDSPTTHASALREADYSTATEDITWANTSTOBUYCOURGASFROMTHEFIELDWHENITCOMESONLINEPAGE3SES22FORANALYSISANDCOMMENTARYONTHESEANDOTHERSTORIES,PLUSTHELATESTOILANDGASDEVELOPMENTS,SEEINSIDECOPYRIGHT2009NEWSBASELTDNEWSBASE4EDITEDBYRYANSTEVENSONALLRIGHTSRESERVEDNOPARTOFTHISPUBLICATIONMAYBEREPRODUCED,REDISTRIBUTED,OROTHERWISECOPIEDWITHOUTTHEWRITTENPERMISSIONOFTHEAUTHORSTHISINCLUDESINTERNALDISTRIBUTIONALLREASONABLEENDEAVOURSHAVEBEENUSEDTOENSURETHEACCURACYOFTHEINFORMATIONCONTAINEDINTHISPUBLICATIONHOWEVER,NOWARRANTYISGIVENTOTHEACCURACYOFITSCONTENTSASIAOILGASMONITOR06MAY2009,WEEK18PAGE2COMMENTARYKPCSPROGRESSINASIACONTRASTSWITHSTASISATHOMEANASIANTOURINLATEAPRILBYKUWAITSACTINGOILMINISTERHASHIGHLIGHTEDTHESTATEOILCOMPANYSGROWINGOVERSEASBUSINESS,AGAINSTABACKDROPOFPROJECTDOUBTSANDDELAYSATHOMEBYCLAREDUNKLEYKUWAITANDPARTNERSAREKEENTOEXTENDBUSINESSINVIETNAM,WITHAREFINERYNOWUNDERWAYAPLANNEDCHINESEREFINERYHASREMAINEDONHOLDOWINGTOTIMINGANDLOCATIONISSUESINTERNATIONALOILCOMPANYREPRESENTATIVESHAVEQUITKUWAITBECAUSEOFPROJECTDELAYSKUWAITPETROLEUMCORPORATIONKPCLONGPROPOSEDANDMOREUNCERTAINQUANGREPRESENTSGOVERNMENTINPUTANDSUPPORTHASLONGPURSUEDAPOLICYINTHEDONGREFINERYPROCEEDINGHYDROCARBONSSECTORSIMILARTOTHESHEIKHAHMEDCOMMENCEDHISDOWNSTREAMGROWTHGOVERNMENTSFORTHEECONOMYASAREGIONALTOURINTOKYOFORTALKSONTHESINCEITSINCEPTIONIN1983,HOWEVER,WHOLEDIVERSIFYINGINGEOGRAPHYANDESTIMATEDUS6BILLIONREFININGANDKPIHASVENTUREDALONGWAYACTIVITYTOSPREADRISK,THROUGHOVERSEASPETROCHEMICALSCOMPLEXUNDERDOWNSTREAMINTOPRODUCTDISTRIBUTIONANDINVESTMENTSANDMOVEMENTDOWNTHEOILCONSTRUCTIONINVIETNAMSNORTHERNMARKETINGITSQ8BRANDEDPETROLANDGASVALUECHAINTHANHHOAPROVINCEBYAJOINTVENTURESTATIONSFAMILIARTOMOTORISTSACROSSJVOFKPI,JAPANSIDEMITSUKOSANWESTERNEUROPEANDINTOKYO,SHEIKHASIAFOCUSCOMPANYANDMITSUICHEMICALS,ANDAHMEDREVEALEDPLANSFORTHEJVTOTHUSTHECURRENTPLANSOFSUBSIDIARYPETROVIETNAMLAUNCHADOWNSTREAMBUSINESSINKUWAITPETROLEUMINTERNATIONALKPITOVIETNAMAHEADEVENOFTHEREFINERYSINVESTINVARIOUSREFININGANDCOMPLETIONPETROCHEMICALSFACILITIESINSOUTHERNASIAKUWAITISALREADYAMAJORTOGETHERWITHOURPARTNERSFORTHEFORMPARTOFADECADESOLDREMITASPLANNEDREFINERYANDPETROCHEMICALWSUPPLIERTOCHINAELLASMIRRORINGTHESTRATEGYOFREGIONALCOMPLEXPROJECT,WEAREALSOCONSIDERINGPARASTATALCOUNTERPARTSQATARPETROLEUMLAUNCHINGADOWNSTREAMBUSINESSTHE200,000BARRELPERDAYBPDNGHIINTERNATIONALQPIANDSAUDIARAMCOFOCUSINGONTHEMARKETINGOFFUELHSONPETROCHEMICALREFINERYCOMPLEXOWEVER,ASCARETAKERKUWAITIOILPRODUCTSMANUFACTUREDBYOURREFINERYINMINISTERSHEIKHAHMWILLPRODUCEMUCHNEEDEDHIGHVALUEEDALABDULLAHALVIETNAM,GIVENTHATMOSTOFITSOUTPUTSPRODUCTSSUCHASPETROLANDKEROSENETOABAHTOUREDASIAINLATEAPRIL,WILLBECONSUMEDINTHECOUNTRY,HETOLDDISCUSSINGMALLEVIATEHANOISCURRENTDEPENDENCEONULTIBILLIONDOLLARPROJECTSINTHEOFFICIALKUNANEWSAGENCYONAPRILVIMPORTSTOMEETITSREFININGSHORTFALL,THEIETNAMANDCHINA,THEFORMERALREADY27,ADDINGITMIGHTOPENFORBUSINESSFIRSTMAJORDOMESTICREFINERYAUNDERCONSTRUCTION,THECONTRASTWITHBEFORECOMPLETIONOFCONSTRUCTIONOFTHE148,000BPDFACILITYINCENTRALQUANGPOLITICALLYINDUCEDSTAGNATIONINTHEREFINERYTHERENGAIPROVINCEHAVINGONLYCOMEONDOMESTICINDUSTRYSDEVELOPMENTWASSTREAMTHEJAPANESE,MEANWHILE,ALSOOFFERINFEBRUARYANDBEINGINSUFFICIENTDIFFICULTTOIGNORE,ESPECIALLYCOINCIDINGSECONDARYBENEFITSTOTHESCHEMESTOPLUGTHEGAPALONEASITDIDWITHFURTHEREVIDENCEOFTHEVIABILITYANDSWIFTPROGRESSINANTHEFIRSTPHASEOFNGHISONISDUEFORPROBLEMTCOMMOTHERWISEDEPRESSEDGLOBALPROJECTSISSIONINGIN2013,WITHPLANSHEPOLICYOFPARTICIPATINGINADDINGMARKETINTHEFORMOFFINANCINGFROMALREADYMOOTEDFORADOUBLINGOFVALUETOTHECRUDESALESTOSOMEOFGOVERNMENTCONTROLLEDJAPANBANKFORKPCCAPACITYINTHEFUTURESBIGGESTNATIONALCUSTOMERS,WHILEINTERNATIONALCOOPERATIONJBIC,WHOSETHECENTRALCONTRIBUTIONOFEACHOFTHEPROVIDINGASIANCOUNTRIESWITHENHANCEDCONTRIBUTIONTOPROJECTFINANCINGISALSO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