Page 16 - DMEA Week 34 2022

DMEA NEWS IN BRIEF DMEA

“A total of $350mn was spent on laying the gas Navy took over ownership in 1990 and renamed relatively stable. It stood at TRY21.15 ($1.16) on
pipeline and 28mn cubic metres of gas can be and commercialised the facility in April 2013. August 24, up 173% y/y, compared to TRY20.04
transported daily via the pipeline. This means Major facilities at the yard include mechan- on August 9.
the funds spent will be returned within a max- ical and fabrication workshops, a carpentry As of August 26, the diesel price will increase
imum of one year,” the minister told Iranian workshop, an operational 50-tonne slipway, by an additional TRY0.87, media reports sug-
media. decommissioned 200-tonne slipway and a newly gested on August 25.
Kish, a 91.5-square km island located off the constructed 272-metre jetty. The record diesel price of TRY29.94 was reg-
coast of the southern Hormozgan province, The facility also has the capability for the istered between June 16 and June 27. The record
offers numerous shopping malls, tourist attrac- design and construction of tugboats, ferries, gasoline price of TRY28.46 was seen on June 13.
tions and resort hotels. It is possible for nation- barges, and houseboats, ship repair/main- Diesel’s annual price increase topped 316% and
als of many countries to visit without a visa for tenance, fabrication and installation of gun gasoline’s exceeded 269% at the price peaks.
stays of up to 14 days. Travel permits are issued mounts and ballistic shields, design and con- Gasoline prices in Turkey are automatically
on arrival. struction of boat cradles and construction of updated based on a formula. The variables are
Kish is also the location of an international GRP boats. the Brent oil price, crack margins (CIF Med), the
oil trading bourse and energy traders can take Areas of potential collaboration between USD/TRY rate and the special consumption tax
advantage of energy storage and shipping NCDMB and NSL, which were discussed at the (SCT).
facilities. meeting included facility upgrade, manpower As of August 25, Brent was up 43% y/y to
Officials say there is also striking growth in and skills development and access to market. $101, down from the $120s seen in June, while
Kish’s re-export business segment. Other senior personnel of the Board in the USD/TRY pair was up 116% y/y to 18.17.
bne/IntelliNews, August 25 2022 the meeting included the General Manager, The diesel crack margin fell to $38 per barrel
Research, Statistics and Development, Abdul- in July from $54 in June but remained substan-
malik Halilu and the Manager Research and tially higher than the $12 registered in February.
TERMINALS & SHIPPING Statistics, Silas Ajimijaye. The Naval Shipyard The gasoline margin, meanwhile, fell to $26 in
Limited was represented by Rear Admiral SJ July from $44 in June but remained distinctly
NCDMB, Naval Shipyard Oyegade, Commodore BH Sabo, Captain IC higher than the $13 seen in March.
As of August 25, the diesel differential stood
Ketebu and Commander Nasiru.
explore collaboration in NCDMB, August 19 2022 at $57 and the gasoline differential stood at $17.
The average gasoline price in the US was up
ship building and repairs REFINING & FUELS 23% y/y to $3.88 per gallon ($1.02 per litre). A
record $5.02 was registered on June 14.
Senior officials of the Nigerian Content Develop- According to data from the Petroleum Indus-
ment and Monitoring Board (NCDMB) led by Diesel fuel prices in try Foundation of Turkey (PETDER), gasoline
the Director Planning, Research and Statistics, sales in Turkey declined by 3% to 3mn cubic
Patrick Daziba Obah earlier this week met with Turkey climbing again metres in 2020, while diesel sales were flat at
the management of the Naval Shipyard Limited 30mn cubic metres and autogas (automotive
(NSL), in Port Harcourt, Rivers State to under- The diesel fuel (Eco Force) price at Opet sta- LPG) sales were down 9% y/y to 3mn tonnes.
stand the mandate and activities of each other tions on the European side of Istanbul climbed In 2021, gasoline sales were up 31% y/y to
in the oil and gas industry and discuss areas of to TRY25.98 ($1.43) per litre on August 24, up 4mn cubic metres (3mn tonnes) while diesel
collaboration. 258% y/y, from TRY22.36 on August 9, accord- sales were up 11% y/y to 32mn cubic metres and
The Naval Shipyard was established by ing to data provided by Opet. autogas was up 7% y/y to 3.1mn cubic metres.
Messrs. Witt and Bush in 1963 and the Nigerian In the same period, the gasoline price was bne/IntelliNews, August 25 2022

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