Page 17 - DMEA Week 36

DMEA FUELS DMEA

Total, Egypt’s OLA team

up for fuel terminal

EGYPT FRANCE’S Total has paired with OLA Energy “Total Egypt is proud to expand its logistics
Egypt to jointly build, own and operate a fuel ter- resources with a new petroleum products termi-
The terminal will serve minal in Egypt, the companies have said. nal in Alexandria, a main entry point of supply
as a supply point for The duo have signed a joint venture agree- on the Mediterranean,” Total Egypt’s managing
both companies’ filling ment on the Alexandria Petroleum Products director Peyami Oven said. “The APPT will
networks. Terminal (APPT), which will be sited at the Mex complete our supply set-up with existing termi-
Petroleum Zone on a 23,000-square metre plot. nals in Mostorod and Suez.”
It will have an initial storage capacity of 10,000 The terminal will enable Total Egypt to
cubic metres, serving as a supply point for deliver on its growth plans and improve cus-
both companies’ customers and filling stations tomer service, Oven said. The company has
in Alexandria, and the North Coast and Delta nearly 240 filling stations in the country.
regions. “This project is a new milestone of the com-
The terminal will have access to the national pany’s ambition to grow and its commitment to
petroleum pipeline grid and will be situated in develop the petroleum supply chain and increase
close proximity to Alexandria’s main refineries its market share,” he said.
and a petroleum products jetty. OLA’s general manager Ahmed Elgembri said
On completion of its first phase, expected the project was in line with the company’s vision
in the final quarter of 2022, the terminal will of being one of the largest downstream market-
host four gasoline and two gasoil tanks, and a ers in Egypt and Africa. It has a chain of over
truck-loading gantry. More tanks will be added 1,200 filling stations, eight blending plants and
under its second. over 60 fuel terminals in 17 African countries. ™

NEWS IN BRIEF

Egypt, including a potential sale of those ex-ship basis, said one of the sources.
Kuwait to issue 87 oil assets, is still ongoing, the company disclosed taking advantge of the heavily oversupplied
The deal shows how some buyers are
to the Abu Dhabi Securities Exchange (ADX)
services tenders on September 7. market, with industry sources saying many
The company confirmed that there are not
producers were taking part in the tender.
Kuwait intends to issue 87 tenders in the any further developments to be announced The Chinese state oil and gas producer
current fiscal year for providing services at this stage. issued the tender in July, seeking supplies
to its oil facilities, press reports said on This announcement was made to starting 2023, after prices dropped due to
September 8. comment on the news circulated on the COVID-19 pandemic hammering global
The government-owned Kuwaiti September 3, about the company’s demand for the fuel.
Integrated Petroleum Industries Company negotiations with Texas-headquartered IPR China’s long-term gas demand is expected
(KIPIC) will issue the tenders through the Energy to sell its Egyptian assets. to grow, supported by the country’s push to
rest of the 2020-2021 fiscal year, which Noteworthy to mention, on Thursday, shift to the cleaner fuel from coal.
started on April 1, the Arabic language daily Reuters reported that Dana Gas is holding Sinopec and Qatargas did not immediately
Alanba said, quoting KIPIC sources. negotiations with IPR Energy to sell its assets respond to emailed requests for comment.
Most of the services in those tenders are in Egypt, which came ahead of the Emirati The low price slope to Brent crude also
concentrated in the planned multi-billion energy producer’s repayment of some $300 shows how persistent Qatar could be in the
dollar petrochemical complex near the $15 million in debt in October. current market environment. Despite the
billion Al-Zour oil refinery in South Kuwait global oversupply, its exports were slightly
and offshore oil export facilities that will higher this year compared with the same
service the refinery and the complex, it China’s Sinopec awards 10- period a year ago, Refinitiv data showed, while
said.” many other producers have to reduce exports
The export terminals project also year gas tender to Qatargas signifcantly.
comprises three quays and 2.5-km subsea The slope to Brent means that the price of
pipelines, the report added. China’s Sinopec Corp has awarded a 10-year LNG is calculated as a percentage to a Brent
tender to buy 1mn tonnes of LNG annually crude contract.
from Qatargas, two industry sources with On September 4, the front-month Brent
Dana Gas’ Egyptian assets knowledge of the matter said on September futures price was on course for its biggest
weekly decline since June as weak demand
4, according to Reuters, to take advantage of
still under review current low prices. figures added to concern over a slow recovery
from the COVID-19 pandemic.
Sinopec has agreed to pay at a slope of
Dana Gas’ strategic review of its assets in 10.19% to Brent crude LCOc1 on a delivered

Week 36 10•September•2020 www. NEWSBASE .com P17