Oil, Gas and Refinery Projects update

[STRANGER BIRD]

Puma Energy Announces Joint Venture With Chishti Group in Pakistan

KARACHI, Pakistan, Aug. 25, 2017 /CNW/ - We are pleased to announce that Puma Energy has entered into an agreement with the Chishti Group to acquire 51% interest in Admore Gas Pvt. Ltd (Admore).

(Photo: http://mma.prnewswire.com/media/548915/Puma_Energy_Chishti_Group.jpg)

Admore is one of the leading independent Oil Marketing Companies (OMCs) in Pakistan with a significant retail network of over 470 sites nationwide. Puma Energy is one of the world's largest independent midstream and downstream oil companies. The acquisition forms part of Puma Energy's global strategy of disciplined investing in fast-growing markets with a high demand for oil products, offering the opportunity to improve local infrastructure, provide supply security and world-class retail propositions to local consumers.

The joint venture will bring Puma Energy branded retail sites, convenience stores and quality product range to the Pakistan market, and undertake a significant investment programme to develop best-in-class supply chain infrastructure in-country to ensure the future needs of our retail business partners and public customers can be met.

Puma Energy's CEO Pierre Eladari said "Puma Energy continues to expand into new markets where its proven business model can deliver value to our customers and shareholders alike. Pakistan is on a firm growth trajectory; growth which will place increasing demands on the downstream oil sector. We, together with our new partner, intend to play an important role in the future development of the industry, working with our new stakeholders in government, business and the public to improve the reliability, standards, service and product offering currently available."

David Holden, the General Manager of the joint venture, said "We have been greatly impressed by Admore's business, its strategic asset base, its customer portfolio and the excellence of its management and employees. We believe we can bring further benefits with our expertise in retail, logistics and our ability to ensure reliable and secure supply of high quality fuels to our customers."

Chishti Group Chairman, Amir Waliuddin Chishti commented: "We believe partnering with Puma Energy will benefit our Admore network, connecting Pakistan to the global market and ensuring security of supply for Pakistan's future growth. We see many opportunities for continued investment in infrastructure and supply to our portfolio of customers."

About Puma Energy

Puma Energy is a global integrated midstream and downstream oil company active in close to 47 countries. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide, achieving rapid growth, diversification and product line development. The company directly manages over 8,000 employees. Headquartered in Singapore, it has regional hubs in Johannesburg (South Africa), San Juan(Puerto Rico), Brisbane (Australia) and Tallinn (Estonia).

Puma Energy's core activities in the midstream sector include the supply, storage and transportation of petroleum products. Puma Energy's activities are underpinned by investment in infrastructure which optimises supply chain systems, capturing value as both asset owner and marketer of product. Puma Energy's downstream activities include the distribution, retail sales and wholesale of a wide range of refined products, with additional product offerings in the lubricants, bitumen, LPG and marine bunkering sectors. Puma Energy currently has a global network of over 2,500 retail service stations. Puma Energy also provides a robust platform for independent entrepreneurs to develop their businesses, by providing a viable alternative to traditional market supply sources.

For further information visit: http://www.pumaenergy.com

About Chishti Group

Chishti Group is a renowned Pakistani conglomerate with a diversified business presence across several industry sectors including Healthcare, Education, Financial Services and Oil marketing. The current annual revenue of the Group is above USD 150mn with an employee base of 3,000. In the healthcare and education sectors, the group is successfully running (i) a 300-bed tertiary care hospital providing healthcare facilities, and (ii) the accredited educational institution which is awarding degree programs in MBBS, BDS, Post Graduate and Nursing care. Its full service brokerage business is a leading player in the Equity, Fixed income and Money Market business and is ranked among the top ten in the country. Having transformed and turned around three loss making businesses (due to its strong commitment with the country, excellent human capital and unmatched business execution capability), the group acquired Admore in 2014. Since then, with over 470 retail outlets, Admore has witnessed a significant improvement in terms of supply, storage and corporate governance in a very short period of time.

SOURCE Puma Energy

http://markets.businessinsider.com/...Venture-With-Chishti-Group-in-Pakistan-520859



https://www.bloomberg.com/news/arti...id-in-talks-to-buy-stake-in-pakistan-retailer

https://www.geo.tv/latest/154522-trafigura-set-to-purchase-admore

 

[STRANGER BIRD]

Pakistan signs strategic deal with international group for oil gas exploration

ISLAMABAD: MoU is signed between the
Oil and Gas Development Company Limited (OGDCL) and MOL Group
for a strategic cooperation initiative to evaluate future Potential business opportunities in international upstream
exploration and production.

The Memorandum of Understanding (MoU) was signed by Graham Balchin, Managing Director/Chief Executive Officer, MOL Pakistan Oil and Gas Company B.V, and Zahid Mir, Managing Director OGDCL, according to a press release issued by the PM’s Media Office
here.

The strategic cooperation would lead to mutual exchange of technical knowledge and industry experiences, allowing for further discussion of potential international upstream growth
synergies and possible partnerships.
Earlier, Chief Operation Officer of MOL Group Dr. Berislav Gaso also called on the prime minister and briefed him about
various successful business ventures of his company in Pakistan.

Berislav Gasco thanked the prime minister for the continued support of the government towards facilitating the company in undertaking profitable business ventures in the country.
He also appreciated investment-friendly policies of the government and expressed keen desire of his company to explore investment opportunities in Balochistan, in addition to the
existing operations at various places in the country.

The prime minister stated that the government was committed
to provide every possible facilitation to the investors for exploring and benefiting from the huge potential existing in the country in various sectors, especially the oil and gas sector.

He also welcomed the desire of MOL Pakistan to extend its operation and undertake business ventures in Balochistan.

 

[STRANGER BIRD]

OGDCL unveils plan for overseas oil and gas exploration

ISLAMABAD: Pakistan Oil and Gas Development Company Limited (OGDCL) on Wednesday unveiled a plan to expand its exploration beyond the local oil and gas fields, in partnership with a global energy conglomerate MOL.

OGDCL and Hungarian MOL Group already have a joint venture in Tal block, which is an oil and gas field located in Kohat district of Khyber Pakhtunkhwa.

The renewed strategic cooperation under an agreement signed between the two companies, however, envisages exploration and production of oil and gas fields in Pakistan, Middle East, African continent and commonwealth of independent states, especially the Russian Federation and Kazakhstan.

“We look forward to expanding our relationship to E&P (exploration and production) opportunities internationally, while continuing to grow our relationship in Pakistan,” Zahid Mir, managing director at OGDCL said in a statement. “Our MOU (memorandum of understanding) is aligned with OGDCL’s internationalisation strategy of developing a footprint outside Pakistan, through cooperation with high quality E&P companies,” Mir added.

Graham Balchin, managing director and chief executive officer at MOL Pakistan Oil and Gas Company BV, a subsidiary of MOL Group, and Zahid Mir, managing director at OGDCL signed the agreement at the Prime Minister Secretariat. OGDCL owns the largest number of recoverable hydrocarbon reserves in the country, accounting for around 60 percent of oil and nearly 40 percent of gas.

Alone during the last fiscal year, the company drilled more than 20 wells and added 18 new wells to its production system. The company’s average daily net saleable production of crude oil stood at 43,989 barrels, natural gas 1,051 million metric cubic feet, liquefied petroleum gas 411 tonnes and sulphur 39 tonnes during the last fiscal year.

https://timesofislamabad.com/ogdcl-unveils-plan-for-overseas-oil-and-gas-exploration/2017/09/14/

 

[STRANGER BIRD]

Officials visit proposed site for oil refinery

KARAK: The officials of Khyber Pakhtunkhwa Oil and Gas Company (KPOGCL) and Frontier Works Organisation visited the proposed site for the oil refinery in Faqeeri Banda area of district Karak.

Sources said that employees of revenue department gave a briefing to the visiting officials on the occasion. They said that the officials of KPOGCL and FWO were briefed by Tehsildar Mehran Ilyas, Gerdawar Mohammad Ayaz, Patwari Mastan Khattak and others.

Sources said that the district government already imposed Section 4 on 4,000-kanal in Faqeeri Banda area of Karak tehsil where the oil refinery would be established. Sources said that requisition of land would be completed soon and work would be expedited to execute the mega project in the district.

They said district government was providing help to the relevant quarters in early fulfillment of legal formalities to start work on the project.

Published in Dawn, September 14th, 2017

https://www.dawn.com/news/1357578

 

[STRANGER BIRD]

OGDC discovers new gas reservoirs in Pakistan

ISLAMABAD – Pakistan’s biggest gas explorer Oil and Gas Development Co. (OGDC) said Monday evening it has discovered gas reserves from its onshore exploratory well Tando Allah Yar, in District Hyderabad, in southern province Sindh.

The structure of Tando Allah Yar South West #01 was drilled and tested using OGDCL’s in house expertise, the company said in a filing to Pakistan Stock Exchange.

The well was drilled down to the depth of 3250 meters. The well has tested 10 MMscf/day of gas and 72bpd of condensate through 32/64” choke at wellhead flowing pressure of 2440 psi from ‘massive sands” of lower Guru formation, the statement said.

OGDC has been working as operator holding shares of 95% and GHPL has 5% shares. The discovery has opened a new avenue and would add hydrocarbon reserve base to OGDCL, GHPL and the country.

OGDC as of June 30, 2017 have been operating in 58 exploration blocks, the largest exploration acreage in Pakistan, covering 33% of the total awarded acreage, standing at 114,581 sq.km. the company also holds working interest in five exploration blocks operated by other exploration companies.

https://timesofislamabad.com/ogdc-discovers-new-gas-reservoirs-in-pakistan/2017/09/26/

 

[STRANGER BIRD]

New oil and gas reserves discovered in Pakistan

ISLAMABAD – Pakistan Oilfields Limited has discovered new oil and gas reserves at TAL Block, increasing the hydrocarbon reserves of the country.

POL has been informed by its operator MOL, that hydrocarbon have been encountered in development well Makori East-06, which has been drilled and is currently under testing phase.

Initial information revealed that well has tested 1817 barrels per day of condensate and 4.63 mmscf gas per day.

The production from the well is expected to start from February 2018.

https://timesofislamabad.com/new-oil-and-gas-reserves-discovered-in-pakistan-3/2017/11/07/

 

[STRANGER BIRD]

A consortium of state-owned Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) is being formed to undertake pilot projects to assess the cost of extracting Shale gas and oil.

 

[ghazi52]

Project comes on line with start of second LNG terminal

Prime Minister Shahid Khaqan Abbasi inspects Pakistan GasPort floating storage regasification unit in Karachi on Monday.

KARACHI: Prime Minister Shahid Khaqan Abbasi inaugurated on Monday the second liquefied natural gas (LNG) terminal at Port Qasim, which was built by Pakistan GasPort Limited with an investment of $500 million to pump gas into three LNG-based power plants in energy-starved Punjab.

He emphasised that electricity shortages had been largely overcome with the import of LNG – the cheapest energy source at present, adding the government was currently working on several power projects.

Pakistan is importing 600 million cubic feet of LNG per day (mmcfd) through its first terminal at Port Qasim which has been operating at 100% capacity over the past two years.

The second terminal will handle another 600 mmcfd, taking total imports to 1.2 billion cubic feet per day (bcfd).

The premier congratulated Pakistan GasPort Chairman Iqbal Z Ahmed on achieving the milestone and said he still had two more to cross.

Terming the LNG terminal a success story, he said the government’s work was not to engage in business, instead it would facilitate the private sector in setting up all new terminals and provide a regulatory framework. He saw a huge potential for investment in the LNG sector because the country had a big market for natural gas.

Abbasi revealed that 1 bcfd of LNG would be required to meet the needs of industries, compressed natural gas (CNG) filling stations, captive power plants of industrial units and power producers.

He pointed out that Pakistan had now become a fertiliser exporter due to gas imports and LNG was the cheapest source of energy at present despite media criticism.

Pakistan is expected to be importing 30 million tons of LNG per year in the next three years as more terminals are coming up. Speaking on the occasion, Ahmed said Pakistan GasPort had completed the terminal despite encountering several challenges.

The company has planned to set up another LNG terminal with a joint investment of $500 million which is expected to start running before the end of next year.

He revealed that they had also planned to set up a liquefied petroleum gas (LPG) import terminal with an investment of $50 million to meet consumer demand.

There had been ups and downs in LPG prices and the establishment of the terminal would help stablise gas rates in the country, he said, while pointing out that the government was also working on setting up LPG air-mix plants.

“The LPG terminal will also help to meet gas demand in remote areas of the country,” he said.

 

[ghazi52]

Pakistan's second LNG terminal to start operations from Nov 20. 2017
PM Shahid Khaqan Abbasi has inaugurated the second LNG terminal at Port Qasim, built at a cost of Rs 50 billion & LNG Terminal Two was established in a record 330 days.

 

[ghazi52]

Pakistan, Russia to sign off-shore gas pipeline deal

ISLAMABAD:
Pakistan and Russia have reached an understanding to sign a multi-billion dollar offshore gas pipeline deal in a couple of weeks, ignoring pressure from the United States that has fiercely opposed the building of Iran-Pakistan (IP) gas pipeline for years.

The two sides reached an agreement during the recent visit of Prime Minister Shahid Khaqan Abbasi to Moscow.

The two sides were expected to sign a Memorandum of Understanding (MoU) during the premier’s visit, however, it did not happen due to certain reasons, officials told The Express Tribune. Now, Islamabad and Moscow are set to sign the deal in a couple of weeks.

 

[ghazi52]

PAK-ARAB REFINERY LTD. (PARCO)

is a Joint Venture between the Government of Pakistan (60%) and the Emirate of Abu Dhabi (40%), through its Mubadala Investment Company.

PARCO’s major business activities are:

• Refining
• Transportation
• Marketing

PARCO has the most modern refinery in Pakistan having a capacity of 100,000 BPD (representing about 25% of the country`s refining capacity), over 2000 kms of cross country pipeline network (including its JV subsidiary Pak-Arab Pipeline Company Limited (PAPCO) with a strategic storage of over one million tons, and a rapidly expanding retail network of TOTAL PARCO (TPPL) – a joint venture with TOTAL of France. With the acquisition of Chevron’s fuel business in Pakistan, TPPL is now the third largest Oil Marketing Company in the country. PARCO is also marketing nationwide LPG under the brand of Pearl Gas and fuel oil under the brand of Pearl fuels. High quality asphalt is also being marketed as Biturox.


PARCO’s record of persistent success and credibility created a strong pull to bring in fresh investments in the time when foreign investors were generally reluctant to come in Pakistan.

PAK – ARAB PIPELINE COMPANY LIMITED (PAPCO)

Pak – Arab Pipeline Company Limited (PAPCO) – is an excellent example of Public-Private partnership. Shell (26%), PSO (12%) and TOTAL PARCO Marketing Limited (formerly known as Chevron Pakistan Limited) (11%) joined hands with PARCO (51%) to build and operate a US$ 480 million cross-country pipeline system for transporting High Speed Diesel from Karachi ports to up-country locations. PAPCO was commissioned in March 2005, comprising 786 Km of 26” dia cross-country pipeline, storage tanks, pumps and other allied facilities. PAPCO has proven immensely successful as the main fuel carrier for the country.

TOTAL PARCO PAKISTAN LTD (TPPL)

TOTAL PARCO PAKISTAN LTD (TPPL) was established in 2001 – a joint venture between PARCO and TOTAL of France – for marketing of consumer petroleum products through its network of retail outlets across Pakistan. After the acquisition of Chevron Pakistan Limited (renamed as TOTAL PARCO Marketing Limited) by TPPL, today, the TOTAL PARCO network is a 50:50 joint venture with more than 800 retail fuel outlets, plus a lubricants blending and marketing business, making it the 3rd Largest Oil Marketing Company in Pakistan.

PARCO PEARL GAS (PVT) LTD

PARCO Pearl Gas (Private) Limited (PPGL) is a wholly owned subsidiary of PARCO. PPGL is the largest LPG marketing company in Pakistan, selling around 90,000 metric ton of LPG per annum in cylinders and bulk. It has a nation-wide network of distributors and has expertise in addressing industrial applications through its Industrial and Commercial solutions. The product is marketed nationally under brand name of Pearl Gas. Our vast portfolio covers all the product segments in the market. PPGL has been working towards providing energy solutions, keeping in view all possible dynamics and dimensions in the market.

PARCO COASTAL REFINERY (PCR) PROJECT

PARCO has initiated the development of a grass root 250,000 bpd deep conversion refinery project in the coastal area of Balochistan near Karachi, known as PARCO Coastal Refinery (PCR) as a 100% subsidiary of PARCO. It will be a significant addition to Pakistan’s oil refining infrastructure, for meeting Pakistan’s growing fuel requirements and is expected to be commissioned by 2023.

 

[ghazi52]

KARACHI: The Prime Minister (PM), Shahid Khan Abbasi, said on Friday that we have a 20 percent increase in the demand of gasoline, and 15 percent increase in diesel every year.

He was talking after the groundbreaking ceremony of Upgrading White Oil Pipeline project in Karachi. The project is led by Pak-Arab Company Limited which is in the business of construction of oil pipeline network in Pakistan.

PM also said that if the construction goes across the expected lines, it would take 20 months for this project to be completed. The cost of the project would be about Rs15 billion, he added.

“Worldwide transportation of fuel takes place through pipelines,” said Abbas. He also assured to improve the quality of petroleum products in the country in the following years.

Transportation of oil and gas is considered to be less hazardous and more environment friendly, since it reduces the need of oil tankers which emit carbon dioxide and other dangerous gases in the air.

 

[ghazi52]

Prime Minister Shahid Khaqan Abbasi inaugurated RLNG gas pumping station with 42 inch 1400 km pipeline at Rahimabad near Sadiqabad yesterday.

With the commissioning of the gas infrastructure, volume of the gas available for use has been doubled from 1200 mmcfd to 2400 mmcfd.

The project is part of gas infrastructure development across the country. It is a joint venture of Sui Northern Gas Pipelines Ltd. (SNGPL) and Sui Southern Gas Company Ltd. (SSGC). It also includes construction of 1044 km pipeline by SNGPL and 425 km pipeline by SSGC.

 

[ghazi52]

ISLAMABAD: January 31, 2018....The Government of Khyber Patkhunkhwa on Wednesday signed an agreement with a Russian oil refinery company to refine 20,000 barrel of oil on daily basis in Kohat district.

As per the agreement, the company would set up an oil refinery in the district at a cost of Rs35 billion.

The company would pay 10 percent share to the provincial government once it starts operation.

KP Minister Atif Khan said that this would be the first Russian company that would operate in the country.

The consortium is consisted of Inter-Rao Engineering and Himmash Apparat partnered with Orpheus Energy. The Russian delegation was represented by Yaroslave Gavrylenko, Wayne Mitchells and Osman Chaudhry.

KPOGCL Chief Planning Officer (Energy and Power Department) Zainullah Shah and Yoroslav of Himmash signed the deal at a ceremony held at the KP House here.

Pakistan Tehreek-i-Insaf (PTI) Chairman Imran Khan, KP Chief Minister Pervez Khattak and Provincial Minister for Energy and Power Muhammad Atif were also present on the occasion.

 

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Parco adds gasoline storage tank at Machike terminal

LAHORE (PR): Total PARCO Pakistan Limited recently inaugurated the safe construction of a 10,000 m3 large vertical storage tank at its Machike terminal located near Sheikhupura.
The new tank has been constructed to meet the growing demand of gasoline, resulting in the gasoline storage capacity having increased from 6,500 m3 to 16,500 m3 at its Machike Terminal. It has been fitted in a way to receive product from the adjacent pipeline - owned by PARCO- which is pumping gasoline from the mid-country. This will enable the company to lower the number of gasoline trucks on the roads improving further the HSE performance.
The ceremony saw Olivier Sabrié (CEO of Total PARCO) and the senior management of Total PARCO unveiling a commemorative plaque and announcing that the company was committed to enhance its fuel storage capacities across the country to meet the growing customer demand in the country.