Page 15 - DMEA Week 15 2020

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NEWS IN BRIEF
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Egypt lowers domestic fuel prices amid global drop
Egyptian Petroleum Ministry decided on April 0 to lower fuel prices for consumers.
The price of 92 octane gasoline dropped to EGP7.50 ($0.48) from EGP7.75 pounds per litre, while the price of 80 octane gas was lowered to EGP6.25 pounds from EGP6.50, according to the statement of the ministry.
Moreover, the price of 95 octane gas dropped from EGP8.75 to EGP8.50, according to the statement.
Elco, Leumi Partners in
talks to buy Israeli filling
chain
Elco Holdings and Leumi Partners are in
talks to buy filling station chain Delek Israel Fuel Corp from Delek Group, controlled by businessman Yitzhak Tshuva, a source close to the deal has told the local Globes news agency.
Elco is controlled by Danny and Mickey Salkind and Leumi Partners is the investment arm of Bank Leumi. There are also other buyers interested in Delek Israel, which stores and supplies fuel and lubricants and operates one of Israel’s biggest gas station and convenience store chains, and has a company valuation of NIS1.2 billion ($330mn)..
Saudi Arabia cuts fuel prices
Saudi Aramco has announced a reduction in fuel prices in the kingdom starting April 11, Saudi Press Agency (SPA) reported on April 10.
Gasoline 91 will be priced at SR1.31 ($0.35) per litre from SAR1.55 in the previous month, while gasoline 95 will be priced at SAR1.47 from SAR2.05.
According to Saudi Aramco, the revision is in accordance with the governance procedures of pricing adjustment of approved energy and water products.
Fuel prices in the Kingdom are linked with export prices in the world market. Therefore, prices fluctuate according to changes in the international market, the company said.
Indian firm wins work at Kuwaiti refinery
India’s L&T has won a contract to upgrade substations and related power facilities in KNPC’s Mina Al Ahmadi oil refinery in Kuwait. The revamped network of distribution substations with the latest technology will enhance the reliability of power supply and facilitate expansion.
Kuwait is expanding and upgrading its refineries in order to boost exports of higher- value fuels.
Duqm refining project in Oman makes progress
Oman’s Port of Duqm has received SAL Heavy Lift vessel M V Anne Sofie carrying over-dimensional shipments for its flagship refinery project, as part of the EPC 1 package, with Spanish company Technicas Reunidas as its lead contractor.
This marks another milestone for the Port of Duqm in heavy lift cargo operation, said a statement from Port of Duqm.
The highlight of the shipment is the discharge of one single heavy lift piece weighing almost 800 tonnes and measuring 73 metres in length, a width of 12.6 metres and a height of 13 metres. The vessel had on board air coolers and accessories.
Mammoet, a global market leader in heavy lift transportation, has been signed up for the safe pick-up and delivery to Duqm Refinery.
According to Port of Duqm, this is the second such heavy lift cargo in the recent times.
Two months back, the Omani port had received nine massive LPG storage tanks for the same project, each of them weighing around 780 tonnes, it added.
China’s Sinopec converts
Kuwaiti refining facility to
COVID-19 hospital
China’s state oil company Sinopec is helping Kuwait to remodel a camp at a refinery
into a hospital to treat the rising number of
coronavirus (COVID-19) patients.
Sinopec’s unit Sinopec Fifth Construction
Co is helping Kuwait to turn the living quarters of construction workers at the Al-Zour New Refinery Project (NRP) into a makeshift hospital, Sinopec told Chinese publication the Global Times on April 14.
As of late April 16, Kuwait had 1,524 confirmed COVID-19 cases and three known deaths.
Pipeline delivering Iranian gas to Turkey remains out of operation two weeks after suspected terrorist attack
Iranian gas flows to Turkey that were stopped 14 days ago after a suspected terrorist attack on a pipeline have yet to resume, IRNA reported on April 12.
The exact cause of the explosion that
hit the pipeline near the Gurbulak border crossing in the eastern Turkish province of Agri remains unverified, but the location where the blast took place is amid a hotbed of Kurdish opposition in Turkey. Kurdish separatist groups have previously targeted infrastructure in eastern Turkey near the border with Iran.
National Iranian Gas Company (NIGC) said that unlike previous incidents involving such damage which were dealt with within three days, the damage on this occasion has not been fixed. Turkish company BOTAS was assigned to carry out the repairs.
NIGC said it believed that the delays in fixing the destroyed pipeline connection
were partly caused by the workload Turkey faces in fighting its coronavirus (COVID-19) outbreak. It was distracting from the situation with the pipeline, it added.
Mehdi Jamshidi Dana, director of dispatching at NIGC, said the Iranian side had informed Turkish counter-parties that they would be able to fix the ruptured pipeline in “just under a week”, but was yet to hear back from Turkey. .
Week 15 16•April•2020
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