New base 738 special 29 november 2015

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NewBase 29 November 2015 - Issue No. 738 Edited & Produced by: Khaled Al Awadi

NewBase For discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE

UAE fuel prices fall for fourth consecutive month The National staff

UAE drivers will get a holiday boost when filling their tanks as prices at the pump have dropped for the fourth consecutive month. Petrol prices continue to fall for the month of December after the Federal Government in August changed the way it set prices for fuel. Super will cost Dh1.79 a litre compared with Dh1.81 in November, Special Dh1.68 from Dh1.70 and diesel Dh1.83 from Dh1.87 with E Plus making its way to subsidised costs at Dh1.61 from Dh1.63. The liberalisation of the pricing of fuel led to a reduction in fuel subsidies. Petrol prices began to fall in September as the price of oil remains weak at about US$50 a barrel.




UAE VP launches AED 50 bn Dubai Clean Energy Strategy to produce 75% of its energy from clean sources by 2050

(WAM) - His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today launched Dubai Clean Energy Strategy 2050, which aims to make Dubai a global centre of clean energy and green economy.

His Highness said that the UAE, through its diverse strategies and investments in clean and renewable energy, is now leading global efforts in this area despite having the second-largest oil reserves in the world.

"The strategy that we are launching today will shape the energy sector in Dubai over the next three decades. It aims to provide 75% of the emirate s energy through clean energy sources by 2050, reflecting our commitment to establish a sustainable model in energy conservation which can be exported to the whole world, and support economic growth without damaging the environment and natural resources. Our goal is to become the city with the least carbon footprint in the world by 2050," His Highness Sheikh Mohammed said.

His Highness added: "Every investment in the development of clean energy sources is at the same time an investment to protect the environment for future generations. It is an effort to build our sustainable economic sectors which do not depend on non-renewable energy resources and are unaffected by volatile energy prices.




Through this strategy, which is based on innovation, research and development, we aim to explore the future of the energy sector to unveil initiatives that will make use of the scientific and technological developments in this sector and take the lead in their development and application."

His Highness asserted that the UAE is keen to become a global reference platform in sustainability practices by transforming concepts into real applications. His Highness called on international companies and R&D centres to make Dubai a base for testing and applying the next generation of clean energy technologies to create a global model that can benefit the world.

His Highness stated this during the inauguration of the second phase of the Mohammed Bin Rashid Al Maktoum Solar Park at Al Marmum area in Dubai. The solar park is considered as the largest of its kind in the world, which will produce 5,000 megawatts in a single location by 2030, and involves total investments worth AED 50 billion.

His Highness also inaugurated the construction works of DEWA Innovation Centre, which includes under its umbrella a group of research and development laboratories in the field of clean energy with a total investment of AED 500 million.

During the inauguration, His Highness Sheikh Mohammed bin Rashid Al Maktoum was accompanied by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Chairman of the Dubai Technology and Media Free Zone Authority, H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group, Mohammed bin Abdullah Al Gargawi, Minister for Cabinet Affairs, Dr. Sultan bin Ahmed Sultan Al Jaber, Minister of State, Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), Khalifa Saeed Sulaiman, Director-General of the Dubai Protocol Department, and acrowd of social and econimoc personalities and senior officials.

A strategy with ambitious goals and clear pillars Dubai Clean Energy Strategy aims to provide 7% of Dubai s energy from clean energy sources by 2020. It will increase this target to 25% by 2030 and 75% by 2050.

The strategy consists of five main pillars: Infrastructure, legislation, funding, building capacities and skills, environment friendly energy mix.




Infrastructure: The infrastructure pillar includes initiatives such as Mohammed Bin Rashid Al Maktoum Solar Park, which is the largest generator of solar energy in the world from a single location with a capacity to produce 5,000 MW by 2030, and total investment of AED 50 billion. The first phase of this project began operations in 2013.

The second phase will begin operations in April 2017 with a capacity of 800 MW , the third phase will begin operations in 2020 with a capacity of 1000 MW, while the fourth phase will begin operations in 2030 with a capacity of 5000 MW, which is 25% of the total energy production in the emirate of Dubai as estimated.

The infrastructure pillar also includes a comprehensive innovation centre which will be built using 3D printing technology. The innovation centre features a group of research and development centres specialised in the next generation of clean energy technologies such as solar energy technology test centre, drones research centre, 3D printing technology, and solar energy based desalination tests centre. AED 500 million will be invested in research and development in areas such as integration of smart grids, energy efficiency and electricity generation from solar energy.

The infrastructure pillar also includes the establishment of a new free zone under the name Dubai Green Zone dedicated to attracting research and development centres and emerging companies in the field of clean energy.

Legislation The second pillar focuses on the establishment of a legislative structure supporting clean energy policies in two phases. The first phase will be implemented through Shams Dubai initiative which aims to encourage building owners to place solar panels on the roofs and link them to the main network of Dubai Electricity and Water Authority.

The second phase includes coordination with Dubai Municipality to issue a set of decisions on the integration of consumption rationalization technology and energy production and the requirement to install solar panels on the roofs of all building in Dubai by 2030.

Funding through the Dubai Green Fund The third pillar is related to financing solutions for investment in research and development on clean energy and its application. This pillar includes the establishment of Dubai Green Fund worth of AED 100 billion which will contribute through its financial resources easy loans for investors in the clean energy sector in the emirate at reduced interest rates. Dubai Electricity and Water Authority will ensure the demand management and economic value of the project.

Building capacities and skills The fourth pillar aims to build human resources capabilities through global training programmes in the field of clean energy in cooperation with international organisations and institutes such as International Renewable Energy Agency (IRENA) as well as international companies and R&D centres. The pillar will contribute to the creation of a sustainable model for research and development in the area of clean energy based on specialised human capabilities in this field.

Environment friendly energy mix The fifth pillar is focused on creating an environment friendly energy mix comprising solar energy 25%, nuclear power 7%, clean coal 7%, gas 61% by 2030. The mix will gradually increase the employment of clean energy sources to 75% by 2050, making Dubai the city with the least carbon footprint city in the world. This pillar also activates energy generation mechanisms through waste by employing state-of-the-art technologies in this area that will contribute to turn 80% of the emirate waste to energy by 2030.




Saudi Aramco to invest more in Indonesia's oil and gas sector Source: Reuters

Saudi Aramco is looking for further investment opportunities in Indonesia's downstream refining and

petrochemicals industry, the company's CEO said on Thursday, after initiating a $5.5 billion project to

upgrade the country's largest refinery.

The Saudi Aramco CEO's comments are positive for Indonesian President Joko Widodo's efforts to attract investment after a clean-up of the country's oil and gas sector that followed a series of scandals.

'Indonesia is an important country for Saudi Arabia, a rising global economy, we would like to be a part of the growth of Indonesia,' Saudi Aramco CEO Amin H Al-Nasser said at the signing of the initial agreement to upgrade the Cilacap refinery in Indonesia's Central Java province.

Indonesia will rejoin OPEC as its 13th member nation next month.

The project is expected to increase the refinery's crude processing capacity to 370,000 barrels per day (bpd) from 348,000 bpd at present, and is also likely to include an agreement to import crude from Saudi Arabia, the world's top crude exporter.

The upgrade will include a new hydro cracker unit, as well as units to increase production of paraxylene and polypropylene production, according to a Pertamina statement.

'It's a great opportunity for growth in a global market,' Nasser said. 'We're hoping this is the start.'

Aramco was also expected to join a tender to develop a greenfield refinery project in East Java, Wiratmaja Puja, Indonesia's director general of oil and gas, said.

Further details on a strategic partnership between Aramco and Indonesia's state energy company Pertamina have yet to be finalised, including how a joint venture between the two will be shared.

Indonesia broke off talks on building two refineries with Aramco and Kuwait Petroleum in 2014 due to a disagreement over taxes and fiscal terms.




India needs to invest $200bn in clean energy project by ’22 Bloomberg + NewBase

Indian Prime Minister Narendra Modi needs to invest $200bn in seven years to clean India’s filthy air, cut greenhouse gases and build wind and solar farms. Issuance of more than $1bn of green bonds has been a welcome first step.

IDBI Bank this week became the nation’s third issuer of notes whose proceeds will be used for clean energy projects, raising $350mn from overseas investors. Demand was almost triple that amount even as global green bonds gained just 0.78% through October, compared with 6.2% a year earlier, in a Bank of America Merrill Lynch index.

Modi’s 2022 investment target supports his plan to steer the world’s second-most populous nation’s dependence on fossil fuels toward renewable sources. About 70% of the outlay will be funded by debt, according to clean energy researcher Mercom Capital Group. Global green bond issuance is expected to surpass $40bn this year, about 10% more than in 2014, according to Moody’s Investors Service.

“The potential for green bonds in the country is tremendous,” NS Venkatesh, Mumbai-based chief financial officer at IDBI Bank said in a phone interview on November 24. “IDBI has a pipeline of about $2bn for funding eligible green projects.” Mumbai-based Yes Bank issued India’s inaugural green bond in February to raise Rs10bn ($150mn), followed by a Rs3.2bn private sale in August, according to data compiled by Bloomberg.

State-controlled Export-Import Bank of India offered the first dollar-denominated issuance in March to raise $500mn. IDBI’s sale makes India the second-largest issuer of green bonds behind Australia in the Asia-Pacific region, where a total of $4.2bn have been offered. The lender received about $1bn of orders for its five-year bond sale at a yield premium of 255 basis points




more than US Treasuries. That compares with average spreads of 296 basis points for all Indian issuers, according to JPMorgan Chase & Co indexes.

Others are beefing up the green bond pipeline. NTPC, India’s largest electricity producer, is seeking central bank approval for a planned $1bn sale of global notes, its finance director said in September. Yes Bank is returning to green bonds with a $500mn note to be listed on the London Stock Exchange next year.

“Green bonds have an appetite globally as funding renewable energy initiatives is seen mitigating challenges posed by global warming and climate change,” said Ajeet Agarwal, New Delhi-based finance director at Rural Electrification Corp, the third- biggest issuer of rupee bonds this year.

At the climate talks in Paris next week, developing nations are looking for Modi to champion their interests in winning funds to mitigate the worst effects of climate change. Richer countries including the US are wary India could end up scuttling any deal.

While a new website is providing round-the- clock updates on “Green India,” Modi has set a target for reducing emissions that’s so low that the world’s third-largest polluter will meet it without committing to anything new.

The summit is also an opportunity for Modi to claim his spot among the world’s top statesmen. By making 32 overseas trips since taking office in May 2014, he has won about $160bn in pledges for loans and investment from global companies of all kinds.

That’s more than $8bn a month on average, which may give environmental issuers and investors optimism for the long-term. “I see green bond issuance

picking up in 2016,” Nirav Dalal, Mumbai-based group president and senior managing director for financial markets at Yes Bank said in a phone interview on November 24. “The ability and willingness of banks to finance and build up more green assets will be the driver for future issuance.”

Clean Power wind farm India




Turkmenistan to Launch Third Development Phase of Galkynysh Gas

Turkmenistan will launch the third phase of development of the Galkynysh gas field, Trend News Agency quoted chairman of the Turkmengaz Ashirguly Begliyev as saying.

Begliyev said with the launch of the third phase sometime later this year, annual production from the field is likely to rise to 95 billion cubic meters (bcm).

Currently, Turkmenistan exports gas to China, Iran, and Russia. The Trans-Caspian gas pipeline across the Caspian Sea to Europe through Azerbaijan and the TAPI gas pipeline are two major projects envisioned.

Construction of much delayed Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline is finally expected to commence on Dec. 13, Turkmenistan Ambassador to Pakistan Atadjan Movlamov said Tuesday.

Turkmenistan produced over 76 bcm of natural gas in 2014, and exported around 45 bcm.




Turkmenistan: UAE's Dragon Oil, talks on $10 bln TAPI pipeline Reuters + Newbase

The UAE Dragon Oil is in talks with Turkmenistan on its potential involvement in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline project, the company said on Friday.

Ashgabat plans to begin construction of the $10 billion, 1,735-kilometre (1,084-mile) pipeline next month in order to diversify exports away from China and Russia. It remains unclear how the project will be financed. Dragon Oil, which produces about 100,000 barrels per day of oil equivalent from two fields in the Caspian Sea just off the Turkmen coast, provided no details of the potential deal. "There are some negotiations on the TAPI going on between Dragon Oil and Turkmenistan government... no specific agreement has been reached at this point yet," the company quoted Faisal Rabee Al Awadhi, its general manager in Turkmenistan, as saying in a written response to a question from Reuters .

Chevron , ExxonMobil , BP and Total have expressed an interest in TAPI in the past, but the lack of access to Turkmen gas deposits and other concerns, such as security, have meant none have committed fully to the project. Turkmenistan's official policy is to only sign production-sharing agreements with foreign companies for offshore fields, while for its main, onshore deposits, it invites foreign firms as contractors, meaning those companies cannot count their reserves as assets.

Dubai-based Emirates National Oil Co Ltd (ENOC) took over Dragon Oil in August. ENOC is owned by the Dubai government and operates service stations, fuel terminals and oil tankers as well as a refinery.




Malaysia: Octanex awards EPCIC contract for Ophir field offshore Malaysia to Muhibbah Engineering Source: Octanex

Octanex has advised that its 50% owned Malaysian joint venture company, Ophir Production Sdn Bhd (OPSB), has awarded a contract for the Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) of a Wellhead Platform for the Ophir oil field offshore Peninsular Malaysia to Muhibbah Engineering.

The contract award follows a successful tender by Muhibbah, a large engineering company listed on Bursa Malaysia (the Malaysian Stock Exchange), with a track record of platform construction and installation.

The Ophir platform will be fabricated at the Muhibbah yard at Klang approx. 40km south west of Kuala Lumpur, before being installed in the Ophir field.

The schedule for the EPCIC of the Ophir platform will see the platform installed in the field Q3 2016. A jack-up drilling rig will then be mobilised to site and development drilling will commence. The current schedule has the Ophir filed commencing oil production in late 2016.

Octanex’s share of the Ophir project is fully funded via OPSB’s 75% project financing and Octanex’s strategic alliance and funding arrangements with major shareholder, Malaysian, Sabah International Petroleum (SIP). SIP is an entity wholly owned by the Malaysian State of Sabah via the Sabah Development Bank.

Octanex COO, Rae Clark said 'The award of the wellhead platform contract is a significant step towards first oil for the Ophir development and marks a major milestone in the transformation of Octanex from an exploration company to a producer.'

Ophir field

The Ophir oil field is being developed via three production wells, a well head platform (WHP) and leased Floating Production Storage and Offload (FPSO) vessel. OPSB was formed by Octanex together with its two Malaysian joint venturers, Scomi Energy Services Bhd (Scomi) and Vestigo Petroleum Sdn Bhd (Vestigo). Octanex holds a 50% interest in OPSB with Scomi 30% and Vestigo 20%. Scomi is a Malaysian downstream oil and gas services company listed on the Main Board of Bursa Malaysia. Vestigo is a wholly owned subsidiary of PETRONAS Carigali Sdn Bhd with a focus on marginal field development




UK: InfraStrata provides update on Islandmagee gas storage project Source: InfraStrata

In the Company's update announcement on 4 September on the 2015 programme of work, InfraStrata confirmed that following successful drilling of the Islandmagee-1 data gathering well to obtain core samples of the Permian Salt and wireline data, all end of well reports had been finalised and the initial results from the laboratory testing on the cores were encouraging and being used by InfraStrata's engineering team to update the facility design and costs estimates.

Test results on the salt cores and rock mechanics have now been incorporated into the preliminary design of the subsurface and surface facility and cost estimates for the project have been updated.

InfraStrata is therefore pleased to confirm that with the finalisation of this work, the five stages of the £3.8 million programme of work have been successfully completed, on time and within budget. The overall results from the technical programme of work are positive and the objective

to confirm the feasibility of the development of an underground gas storage facility in salt caverns in this location has been met.

The thickness and depth of the Permian Salt were both within 10% of pre-drill estimates. The Permian Salt average thickness over the area of the proposed gas storage caverns is approx. 200 metres to a depth of approx. 1,300 metres sub-sea. The rock mechanical properties of the salt determined from the core data are in line with data for Permian Salt at other locations across northern Europe where caverns for gas storage have been constructed and are in operation.

The successful completion of the programme is a major milestone for the project and InfraStrata can now commence the monetisation process to attract investors into the project to take it through to detailed design and on to full construction.

In addition, InfraStrata is pleased to announce that the status of the Islandmagee gas storage project as an EU Project of Common Interest ('PCI') was reconfirmed recently with the adoption of the latest PCI list by the European Commission on 18 November 2015. The list of PCIs is reviewed and updated every 2 years and continued inclusion is a significant boost for the project. Islandmagee is the only gas storage project in northwest Europe to be awarded PCI status.

Under PCI rules, PCI projects benefit from accelerated permitting procedures and improved regulatory conditions and are also eligible to apply for financial support from the Connecting Europe Facility ("CEF"). A budget of €5.35 billion has been allocated under CEF for 2014-20 to help PCIs be implemented faster and make them more attractive to investors. As an existing PCI, InfraStrata, on behalf of the project company Islandmagee Storage Limited ("IMSL"),




NewBase 29 November - 2015 Khaled Al Awadi

NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

US oil settles down $1.33, or 3.09%, at $41.71 a barrel Reuters + NewBase

Crude oil futures ended sharply lower on Friday 27/11/2015 as the U.S. dollar index hit a fresh eight-month high, adding more pressure to an already oversupplied, bearish market. Strength in the greenback, which makes oil more expensive for holders of other currencies, joined with negative sentiment that kicked off earlier in the day due to disappointing Chinese economic data.

Brent crude was down 59 cents to $44.87 per barrel by 1:35 p.m. EDT, after settling down 71 cents at $45.46 in the previous session. It traded as low as $44.80 earlier in the session.

West Texas Intermediate (WTI) futures, the U.S. crude benchmark, settled $1.33 lower, or 3.09%, at $41.71 per barrel. Trading in U.S. futures was muted due to holidays in the country. Both crude

contracts were on track for small weekly gains, but were down by roughly 9 percent since the start of November.

On Friday, officials with the Organization of the Petroleum Exporting Countries (OPEC) questioned an upbeat forecast from its researchers, with some skeptical there will be a quick easing of the supply glut in 2016.

The group is scheduled to convene its annual policy meeting on Dec. 4.

Earlier in the day, Chinese shares slumped 5 percent, hit by regulatory worries and declining industrial sector profits. Worrying economic indications in the world's largest energy consumer typically filter quickly through to oil prices, particularly given the nagging global surplus of physical oil.

But Bjarne Schieldrop, chief commodities analyst at SEB in Oslo, said the shooting down of a Russian jet by the Turkish military this week had gone from being a geopolitical risk concern to worries about falling oil demand due to potential economic sanctions.

"Rather than being bullish ... it's now bearish for marginal demand," Schieldrop said.

Oil price special

coverage




NewBase Special Coverage

News Agencies News Release 26 Nov.. 2015

Biggest Oil Buyers Pick Themselves as Winners From OPEC Meeting Bloomberg - Heesu Lee

Oil buyers in Asia are sure of one thing as OPEC prepares to meet: They’ll emerge as winners from the group’s rift over production.

Members of the Organization of Petroleum Exporting Countries will gather Dec. 4 in Vienna, where Iran has said it will announce plans to boost production by 500,000 barrels a day. That may further lift the 12-member group’s output, which has exceeded its target for 17 months. The increase in volumes would exacerbate a global glut and benefit the biggest oil-consuming region’s refiners, which are seeking cheaper sources of crude.

OPEC is forecast to stick with its strategy of defending market share by maintaining output and driving down higher-cost production elsewhere, according to analysts and traders surveyed by Bloomberg. That’ll leave members including Saudi Arabia free to continue pumping even amid calls from Iran to make room for its extra supply after international sanctions over its nuclear program are lifted.

“This is probably the best time we’ve ever had as a buyer,” said Kim Woo Kyung, a spokeswoman for SK Innovation Co., South Korea’s largest refiner. “We are enjoying an overflow of oil.”

OPEC has exceeded its output target of 30 million barrels a day since June 2014 as it pumps near record amounts of crude, boosted by increases from its biggest members, Saudi Arabia and Iraq.




The group’s strategy to defend market share has helped lift refining margins for Asian processors, who have been treated to a steady flow of cheap cargoes from the Middle East to Mexico, Nigeria and Russia.

Profits from turning crude into naphtha, which is used to produce gasoline as well as petrochemicals, surged to $9.42 a barrel this month, the highest level since at least May, data compiled by Bloomberg show. Purchasing costs for refiners have slumped. Japan, Asia’s second-biggest oil consumer, spent an average of $51.22 a barrel in September for supplies, down from $113.47 in January 2014, according to data from the nation’s Ministry of Finance.

While oil’s decline has spread to fuels such as gasoline, the pace of crude’s slide has been faster. Spot prices of the motor fuel loading from Singapore have fallen about 37 percent over the past year, compared with a slump of about 45 percent in Dubai crude, a benchmark for shipments to Asia. Additionally, cheaper fuel has boosted consumer demand for the supplies that refiners sell.

“Refining margins in Asia have stayed very strong, certainly much stronger than in 2014, largely because feedstock prices have dropped significantly,” Victor Shum, a vice president at IHS Inc., an Englewood, Colorado-based industry consultant, said by phone from Singapore.

Brent crude, the benchmark for more than half the world’s oil, has dropped 22 percent this year after falling by almost 50 percent in 2014. Futures in London slipped 1.3 percent to a $44.86 a barrel on Friday. West Texas Intermediate, the U.S. marker, decreased to $41.71 a barrel, down 37 percent from 12 months earlier.

The Asia-Pacific region will consume 31.87 million barrels a day of oil in 2015, exceeding demand of 31.28 million barrels from the Americas, the International Energy Agency said in a report on Nov. 13. China, India, Japan and South Korea will be among the biggest users of oil, according to the Paris-based IEA.

“For six months to a year, I see markets flush with supply,” said Naveen Kumar, general manager for international trade and supplies at Hindustan Petroleum Corp., an Indian state-run processor. “As a refiner, low crude prices are benefiting us, so we would continue to hope for prices to remain low.”




Canadian Energy Companies seen disappearing in oil new world Bloomberg + Gulf News + NewBase

Canada is poised to lose energy companies as the industry faces the “new normal” of lower and more volatile oil prices along with tougher climate and regulatory policies, billionaire investor Murray Edwards warned Friday.

The chairman of the nation’s largest heavy-oil producer, Canadian Natural Resources Ltd., likened the oil industry to a horse race in which western Canadian producers are struggling to compete with developers of light crude from US shale. While cost cuts and innovation are allowing some oil-sands developers to stay in the game, parts of the Canadian industry will go by the wayside, Edwards said at a conference hosted by Bennett Jones LLP in the mountain community of Lake Louise, Alberta.

“We have a lot of wind blowing in our face right now, a lot of challenges before us,” Edwards told reporters after delivering remarks to a crowd of more than 300 at a ski resort hotel. “Only those that are going to be top in class on execution are going to be able to survive in that environment.”

Snow-covered peaks in the background at the conference offered an uplifting contrast to the pall cast over Calgary. Office buildings in the Centre of the nation’s oil patch are emptying with a persistent price slump that began in June 2014, which has led to 40,000 lost jobs across the Canadian industry and 100,000 cumulatively with the spillover to other industries, according to the latest figures Friday from the Canadian Association of Petroleum Producers. US crude is down about 60 per cent since its high last year, hovering just above $40 a barrel.

Higher Levies

Oil companies in Alberta are facing higher levies, with a new climate policy this month including a

rising carbon tax, and await the results of a policy review to finish later this year on the royalties

the provincial government collects on their production. Some parts of the industry won’t outlive the

new regime, said Peter Tertzakian, chief energy economist at ARC Financial Corp. and a member

of the royalty review panel.




“I am confident that segments of the industry will remain competitive,” Tertzakian told reporters. In an earlier presentation, he outlined a “new world” facing oil companies since the Organisation of Petroleum Exporting Countries last year decided to maintain output amid a supply glut, boosting competition, complicated by rising use of renewable energy that’s damping demand for crude. “We are in the mother of all market share battles.”

Canada is one of the most expensive places to extract crude, yet some of its largest energy companies publicly embraced the province’s new climate policy even if it means that only oil-sands projects with the lowest carbon footprint get developed in the future, Edwards said. Producers are seeking to “change the conversation,” he said, after years of environmental opposition that has held back the development of export pipelines, including Keystone XL to the US and Northern Gateway to Canada’s Pacific Coast.

Edwards, who joined environmentalists on stage Nov. 22 to announce the policy, challenged the US and other countries to tax the emissions from their oil and natural gas production to level the playing field.

“I hope that Canadians are taking a leadership role on this one and that others will start to follow,” Edwards said. “It’s going to lead to a more positive discussion, rather than the adversarial discussion we’ve had in the past.”




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Khaled Malallah Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA Emarat member since 1990 ASME member since 1995 Hawk Energy member 2010

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Khaled Al Awadi is a UAE National with a total of 25 years of experience in the Oil & Gas sector. Currently working as Technical Affairs Specialist for Emirates General Petroleum Corp. “Emarat“ with external voluntary Energy consultation for the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years, he has developed great experiences in the designing & constructing of gas pipelines, gas metering &

regulating stations and in the engineering of supply routes. Many years were spent drafting, & compiling gas transportation, operation & maintenance agreements along with many MOUs for the local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE and Energy program broadcasted internationally, via GCC leading satellite Channels.

NewBase : For discussion or further details on the news above you may contact us on +971504822502 , Dubai , UAE

NewBase 25 November 2015 K. Al Awadi




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New base 738 special 29 november 2015