Daily Archives: May 9, 2012
Kenya: President Obama Undisputed footprint birth cerificate, according to the Mombasa Imam, 01042012
President Obama will be forced by circumstances to apologise: Genuine Birth Certificate surfaces – Americans have been led to believe otherwise, revelation to change the political landscape « African Press International (API).
- Obama’s Kenyan Birth Certificate Surfaces In Africa (mb50.wordpress.com)
- Arizona Secretary Of State Threatens To Keep Obama’s Name Off Ballot Without Birth Certificate Verification (Audio) (thedaleygator.wordpress.com)
- Sheriff Joe: Obama Birth Cerificate a “Computer-Generated Forgery” (markamerica.com)
- Arizona Threatens To Leave President Obama Off Ballots Over “Birther” Movement (doubledippolitics.com)
- AZ Sect. Of State Threatens To Remove Obama From Ballot Without Birth Certificate Verification From Hawaii (mediaite.com)
- Arizona Official Threatens to Take Obama Off Ballot (newser.com)
- Arizona’s Secretary Of State Threatens To Keep President Obama Off The Ballot Unless He Sees A Birth Certificate (businessinsider.com)
- Arizona’s Top Election Official Goes Birther, Threatens To Keep Obama Off The Ballot (kaystreet.wordpress.com)
- Kenya: President Obama Undisputed footprint birth cerificate, according to the Mombasa Imam, 01042012 (mb50.wordpress.com)
- Update on booklet from Dystel & Goderich stating Obama was born in Kenya… (jlue.wordpress.com)
- Obama’s former literary agency claimed he was born in Kenya (rawstory.com)
- New report of Obama’s birth in Kenya (thehill.com)
After wrapping up her deepest work ever in the Gulf of Mexico and another subsequent pipelay project in the same region, the Express arrived this week in the Mediterranean Sea for work offshore of Israel.
After departing Helix ESG’s spoolbase in Ingleside, Texas, in April the Express set sail for Haifa, Israel where she is now preparing to begin SURF (Subsea Umbilicals, Risers and Flowlines) work for Texas-based Noble Energy in the Noa field.
Posted on May 9, 2012 at 9:28 am by Associated Press
Port of Corpus Christi commissioners on Tuesday approved a contract with Oxy Ingleside Property Holdings for 815 acres.
The Corpus Christi Caller-Times reports Oxy has about 90 days to close the sale.
Spokesman Mark Evans says Oxy filed a permit application last week with Texas environmental regulators to build a fractionator at a nearby Oxy Chemicals unit. The new property would be used to help support the chemical plant’s natural gas operations and exports.
Houston-based Canyon Supply and Logistics earlier this year failed to make a $19 million down payment for 187 acres of the former naval facility, which closed in 2010.
- Port Corpus Christi Gets New Director of Engineering Services (USA) (mb50.wordpress.com)
Bill Lehane 09 May 2012 14:15 GMT
The US independent will pay in cash for the acquisition, which is expected to close subject to approvals in the third quarter.
Paloma II owns roughly 17,000 net acres in the Eagle Ford shale play, primarily in Karnes and Live Oak counties.
Net production at the properties as of 1 April was around 7000 barrels of oil equivalent per day.
Paloma II’s principal shareholders are Paloma Resources, Encap Energy Capital Fund VII and Macquarie Americas Corporation.
Marathon Oil has previously flagged its intentions to hone in the Eagle Ford, telling the Howard Weil conference earlier this year it would ramp up activity in the oil window of the South Texas shale play.
The Eagle Ford is a key plank of the New York-listed outfit’s $4.82 billion capital expenditure budget for this year.
- Energy: Texas Tops Finds From Brazil to Bakken as Best Prospect (mb50.wordpress.com)
- New drilling, production in Eagle Ford surges (mb50.wordpress.com)
- Marathon Sells Alaska Assets (mb50.wordpress.com)
McDermott International, Inc. announced that its Malaysian affiliate Berlian McDermott Sdn. Bhd. was recently awarded a significant subsea contract for executing a deepwater engineering, procurement, construction, transportation, installation and commissioning project offshore Malaysia. The value of this contract is included in McDermott’s first quarter 2012 backlog.
The award is for the subsea infrastructure of the Siakap North – Petai (“SNP”) Development Project operated by Murphy Sabah Oil Co., Ltd. (“Murphy”), comprising rigid flowlines, flexible risers, an umbilical and subsea hardware and controls. The SNP field is located nearby the existing Kikeh field, northwest of Labuan Island, Malaysia, in waters 3,900 – 4,900 feet deep.
“Our subsea engineering expertise, fabrication track record at our Batam Island facility, state-of-the-art subsea construction vessels and understanding of the Malaysian market, contributed to this successful award,” said Stephen M. Johnson, Chairman of the Board, President and Chief Executive Officer of McDermott. “We look forward to delivering the facilities for this important field development for Malaysia.”
The SNP field architecture consists of two rigid, insulated, pipe-in-pipe production flowlines, one rigid water injection flowline and one main umbilical system connecting eight new manifolds and subsea distribution units to existing riser slots on the Kikeh FPSO. The development calls for five water injection and eight production wells, drilled from the manifolds at each of the four drill center locations.
Detailed engineering and procurement for the project are underway, and fabrication of PLETs, jumpers and other installation aids is expected to begin in the third quarter of 2012. Following the infrastructure installation, McDermott will undertake a comprehensive System Integration Test of the subsea units and provide commissioning assistance. The project scope is scheduled to be completed by the third quarter of 2013.
By Vladimir Hernandez BBC Mundo
It is a grim name, though it has nevertheless brought hope of a better future for many in Argentina: Vaca Muerta – translated from the Spanish – means “Dead Cow”.
Vaca Muerta’s barren landscape covers some 30,000 remote sq km of the Patagonian province of Neuquen, in the west of Argentina.
And it was here where energy giant Repsol-YPF struck gold last year. Black gold.
Buried in 250-million-year-old rocks, almost 3km beneath the surface here, are some of the world’s largest reserves of shale oil and gas.
According to the Spanish energy giant Repsol, there are prospective resources equal to more than 21 billion barrels of oil underneath the ground in Vaca Muerta.
Much of it could be shale oil, rather than gas, according to an independent Ryder Scott audit commissioned by Repsol, though this has yet to be proven.
But the presence of shale gas is proven, and it is clear that the reserves found here will make up a big proportion of the country’s estimated 22 trillion cubic-metre total.
That makes Argentina the world’s number three in terms of shale gas reserves – hot on the heels of the US, which has reserves of some 24 trillion cubic metres, and China, which has reserves of some 36 trillion cubic metres, according to the American Energy Information Administration.
Failure to invest
Getting the reserves out would obviously require massive investment.
Argentina’s government believes Repsol – which has been active here ever since it took over YPF when it was privatized during the 1990s – should have done this.
But instead, it says, Repsol has been dragging its feet, invested too little and thus failed to get the resources out of the ground as quickly as it should have done.
The government has even accused Repsol of pulling YPF’s profits out of the country to finance its businesses abroad.
President Cristina Fernandez said:
“If such a situation continued, we would have had big energy problems in the country because of the drop in production and the increasing reliance on fuel imports.”
So the government has stepped in to take control of what it sees as a vital, national asset.
Rodrigo Alvarez Argentine economist:
This is the real reason behind the renationalization of YPF”
Renationalizing YPF has in effect helped the government regain control of the Vaca Muerta energy reserves, since the rights to exploit more than a third of the area were held by Repsol-YPF.
The move, and the manner in which it was made, has obviously created a great deal of controversy.
Repsol and others believe the government was motivated by a desire to secure the country’s energy requirements for decades to come, and thus reduce its gas import bill which shot up to $10bn in 2011 and is expected to surge to $14bn this year.
“This could help cope with between 30% and 40% of the gas demand within Argentina, which has been covered with costly imports in the last two years,” says Eduardo Barreiro, an energy consultant and a director at the Society of Petroleum Engineers in Argentina.
Argentine economist Rodrigo Alvarez Litre agrees:
“This is the real reason behind the renationalization of YPF,” he wrote in a column in the Argentine newspaper, Perfil.
“With such shale gas reserves, Argentina could position itself as a nation with cheap and abundant energy, and profit from the high prices in the international market.”
Argentina’s government might describe its move as a step towards self-reliance, which it believes is clearly in the nation’s interest.
“Vaca Muerta could be a very important area in the future,” Mr Barreiro says.
“But it needs investment.”
Some $3bn would be required over the next three years to get the shale gas extraction started.
And then, he added: “You’ll need to be excavating constantly to keep the production levels high enough to justify the investment and to make a profit.”
According to Repsol, more could be achieved with more investment. The firm insists that some $25bn per year would be needed to exploit Vaca Muerta’s shale oil and gas potential. This, the company believes, could double the Argentine production in 10 years.
But this would require some 3,000 shale oil and gas wells in an area where there are only 28 at the moment.
Without Repsol, the government might well look to other foreign investors for help to make it happen.
But Daniel Kokogian, a geologist who works as an advisor for several foreign energy companies in Argentina, said some companies would be concerned about how they might be treated in the future, following the renationalization of YPF.
“What private investor would put money into a business where national interest will come first, then profits?” he asks.
Others are far more optimistic about Argentina’s chances to attract foreign investors.
The government says it has already had talks with energy giants such as Total of France and Petrobras of Brazil – and local energy analyst Victor Bronstein expects deals to be struck.
“Oil companies are constantly operating in turbulent environments, in problematic countries,” he says.
“If they think there’s a business opportunity, that there’s a possibility of resources, they’ll dive in.”
Besides, cash-rich states may well be keen to get involved, according to Mark Routt, a senior consultant with KBC Advanced Technologies in Houston, Texas.
“Argentina is going to have to look for government-government relationships, particularly with China,” he says.
But Mr Kokogian says he believes the main concern of most investors will be whether or not Vaca Muerta is going to deliver decent margins.
“The main issue here is to determine if these estimated resources can actually be called reserves,” he said.
“A resource becomes a reserve when it is proven that the investment can be recovered with an acceptable profit. In Vaca Muerta, I don’t think that has happened yet.
“If this area was truly the main reason behind the nationalization of YPF, then Argentina may have shot itself in the foot over an unproven source of energy,” he adds.
And if that turns out to be the case, the Argentine efforts to control “Dead Cow” could be a bit like flogging a dead horse.
- Repsol YPF ups Argentine shale potential (mb50.wordpress.com)
- Incensed Spain threatens Argentina after YPF seizure (mb50.wordpress.com)
- Is Cristina Fernandez destroying Argentina’s economy? (business.financialpost.com)
The Export-Import Bank of the United States (Ex-Im Bank) has authorized a $2.95 billion direct loan to support U.S. exports to the Australia Pacific liquefied natural gas (LNG) project.
The transaction is Ex-Im’s second-largest single-project financing in history and is also the Bank’s first LNG project in Australia.
The project on Curtis Island in south-central Queensland will produce natural gas from coal-seam wells and will have total capacity of nine million metric tons per year. China Petroleum and Chemical Corp. (Sinopec) and Kansai Electric Power Co. Inc. of Japan will purchase most of the LNG produced. China Ex-Im Bank and commercial lenders are also providing debt financing for the project.
Ex-Im’s financing is expected to support an estimated 11,000 American jobs. Principal U.S. exporters are ConocoPhillips Co. and Bechtel International, both of Houston, Texas. Additional exporters and suppliers include numerous small businesses in Texas, Colorado, Nevada, California, Oregon and Oklahoma.
“Our authorization paves the way for U.S. companies to export equipment and services to this major LNG project and, in so doing, to maintain thousands of American jobs across the country,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “This financing also demonstrates how the United States and China can work together for our mutual benefit to foster trade and develop critically needed energy resources.”
The transaction, approved by Ex-Im’s board of directors on May 3, was announced following Chairman Hochberg’s trip to China, where he participated in the fourth round of the Strategic and Economic Development Dialogue (S&ED) with Treasury Secretary Timothy F. Geithner and other officials. The S&ED was held in Beijing on May 3-4.
Bechtel official Jay C. Farrar, who manages the company’s office in Washington, D.C., cited the importance of Ex-Im’s financing for U.S. exporters to large international projects. “Since 1992, Ex-Im Bank has been instrumental in the successful awarding and completion of projects involving Bechtel that have supported thousands of jobs for highly skilled employees at our company. The Bank’s financing also has helped to maintain thousands of additional jobs related to the supply chain for these projects,” Farrar said.
The Australia Pacific LNG project will involve development of coal-seam natural-gas fields, two gas transmission lines to a collection hub, a natural gas liquefaction plant and an adjacent marine shipping export terminal on Curtis Island near the city of Gladstone.
- Why America’s Missing Out on the Billion-Dollar Global LNG Game (mb50.wordpress.com)
- UK: Shell Tables USD 1.56 bln Bid for Cove (mb50.wordpress.com)
- USA: Sumitomo, Tokyo Gas in Cove Point LNG Talks with Dominion (mb50.wordpress.com)
- Will the US Become the World’s Largest Exporter of LNG? (mb50.wordpress.com)
- USA: Jordan Cove Submits Non-FTA LNG Export Application (mb50.wordpress.com)