Global Energy Intelligence: crude oil

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Tanzania plans to build gas pipeline to Uganda

The Tanzania Petroleum Development Corporation (TPDC) is looking for a contractor to carry out feasibility studies in order to assess current and future gas demand, potential gas buyers and the most economically viable route for a future gas pipeline that would connect Tanzania and Uganda.

Tanzania's natural gas reserves are estimated at 57 tcf (1,610 bcm) and are mostly located in offshore fields. The proposed gas pipeline would connect Dar es Salaam, Tanga near the Indian Ocean and Mwanza on Lake Victoria; it would then cross the border to Uganda.

The project is part of a cooperation energy agreement between the countries. In 2016, the countries agreed to build an oil pipeline to transport Uganda's land-locked crude oil to offshore markets.

Mexico plans US$16bn investment to boost oil production, power generation

The Mexican government has unveiled a US$16bn investment plan to boost the domestic oil production, refinery capacity and hydropower generation. US$9.5bn will be invested in 2019 to upgrade existing refineries, build a new one for US$8.6bn in Dos Bocas in the state of Tabasco and increase oil exploration.

The country's crude oil output is flagging and declines to 1.88 md/d in the first half of 2018 down from 3.4 mb/d in 2005 and the government plans to add 600,000 bbl/d in the next two years to reach 2.5 mb/d. The main drivers behind this decline are the natural depletion of oil fields and a lack of investment. In 2018, Mexico imported 590,000 bbl/d of gasoline and 232,000 bbl/d of diesel from the Unites States while the domestic output has halved since 2013.

Iraq extends bid deadline for the Diwaniya 70,000 bbl/d refinery project

The Iraqi government has extended the submission bid deadline for the 70,000 bbl/d refinery project in Diwaniya (south of Bagdad, Iraq) from 31 July 2018 to 30 October 2018. The refinery is a key project for the country and its construction fits into the framework of a broader strategy, according to which the government aims at increasing the country's domestic refining capacity to more than 1.4 mb/d.

Diwaniya and other projects will contribute to it, including in particular: Maysan (150,000 bbl/d), Kirkuk (150,000 bbl/d), Karbala (140,000 bbl/d) and Bazian (46,000 bbl/d). In May 2018, the government also signed an agreement with two Chinese companies, PowerChina and Norinco International, for the construction of the 300,000 bbl/d Al Faw (also spelled Fao) refinery at the Faw port in the Basrah region.

More energy news: https://goo.gl/JX6nho

China's CNOOC will invest US$3bn in Nigerian oil and gas operations

The state-run company China National Offshore Oil Corp (CNOOC) plans to invest US$3bn in its Nigerian oil and gas operations, which are jointly run through joint ventures (JVs) with its state-held counterpart Nigerian National Petroleum Corporation (NNPC). So far, the Chinese firm has spent roughly US$14bn in the country, which is looking forward to boost its crude oil production and reserves through partnerships with major oil ans gas players such as CNOOC, ExxonMobil, Shell and Chevron.

In November 2017, NNPC signed a US$1.7bn financing agreement with Chevron that would increase the Nigerian crude oil output by 39,000 bbl/d. The deal is expected to last until 2045 and the project will focus on oil, gas and condensate production from the Sonam and Okan fields located in leases OML 90 and 91 in the Niger Delta offshore Nigeria.

Global Canadian Crude Oil Trading & Markets Conference

22^nd - 23^rd of May: Global Canadian Crude Oil Trading & Markets Conference

Canadian Enerdata Ltd. is holding a conference on the opportunities and challenges facing Canadian crude oil from both a global and domestic standpoint. The forum is to take place from the 22^nd - 23^rd of May in Calgary, Canada.
> Register to conference

Meet our Key Speakers:

Joe Oliver, P.C., M.P.
(Minister of Natural Resources, Canada)

Doug Horner, P.C., M.L.A.
(Minister of Finance, Alberta)