Page 13 - DMEA Week 33 2019

DMEA
neWs in BrieF
DMEA
South Africa’s petrol prices are currently just over a rand less than the all-time high recorded in October 2018.
Although fuel prices dropped markedly towards the end of last year, from R16.49 in October (for 95 Unleaded at the coast) to R13.43 in January, prices have slowly crept up since then, to the current level of R15.28.
iol
Iraq braces for major
decline in lucrative fuel
trade
New international shipping regulations are about to disrupt a heavy fuel oil (HFO) trade worth hundreds of millions of dollars to iraq, creating additional urgency for the Oil Ministry to upgrade its outdated re ning infrastructure.
iraq currently exports about 55,000 barrels per day (bpd) of HFO, a byproduct of crude oil re ning, which can be used to power large, industrial engines. But beginning in January 2020, the international Maritime Organization (iMO) is raising the standards for HFO that is burned in ships, drastically altering the market.
iraQ oil rePort
PiPelines
Damaged Iraq pipeline in Basra repaired
iraq’s Petroleum Pipelines Company (PPC) repaired a crude oil pipeline to Al-Hartha power station which was damaged when a re broke out in a nearby dry gas pipeline.
PPC’s director general, Dawood Salem, said that workers were able to replace the damaged section of the pipe, a length of 120 metres, and re-pumped the crude oil.
Al-Hartha did not stop operations as a result of the accident, and no injuries have been reported.
oil & gas middle east
terminals & shiPPing
Impaired Iran oil tanker stable in the Red Sea: NITC
e National iranian Tanker Company (NiTC) reported the technical defect of one of its vessels in the Red Sea, and said the tanker’s crew were xing the problem and it was in stable and safe condition.
According to NiTC, the HELM vessel
su ered a technical malfunction at 6:30 a.m. (Tehran time) on Tuesday 75 kilometers o the Yanbu port in the Red Sea.
Akbar Jebel Ameli, technical director of NiTC, said: “ e ship’s crew are xing the defect and the vessel is in stable and safe condition.”
“Fortunately, the ship’s crew are in safe condition,” he said. “ e necessary steps are being taken to x the problem; the crew are fully prepared and are working to x the problem.”
shana
CPECC awards Ras Markaz
Crude Oil Park subcontract
to Galfar
Oman-headquartered construction builder Galfar Engineering & Contracting has
been awarded a subcontract worth $16m (OMR6.1m) by China Petroleum Engineering and Construction Corp (CPECC) for Ras Markaz Crude Oil Park.
in a statement on Muscat Securities Market, Galfar’s chief executive o cer, Hans Erlings, said the subcontract included pre-site preparation, grading, levelling, earthworks, and blasting activities.
e subcontract will be e ective from 20 August, 2019 to 30 March, 2020.
Erlings added that Galfar expected “reasonable income” from the contract.
According to ProTenders, Ras Markaz Crude Oil Park includes the construction of storage tanks across ve phases and covers an area of 12.5km2.
Upon completion in 2020, the development is expected to have a total capacity of 200 million barrels of crude oil. ConstrUCtionWeeK
Week 33 22•August•2019
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