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☆ Sinopec says signs new 27-year LNG supply deal with QatarEnergy
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

The logo of China Petroleum & Chemical Corporation, or Sinopec, is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. Under the agreement, the two firms will cooperate on the second phase of the North Field gas project, which will supply 3 million metric tons of LNG per year to Sinopec. The deal, signed at the China International Import Expo in Shanghai, is the third long-term supply deal between Sinopec and Qatar Energy, the world's top LNG supplier. The two parties signed a 10-year LNG purchase and sales agreement in 2021, followed by a 27-year deal last year. The North Field is part of the world's largest gas field which Qatar shares with Iran, which calls its share South Pars.

Persons: Chris Helgren, Jason Xue, Dominique Patton, Jason Neely Organizations: China Petroleum & Chemical Corporation, REUTERS, Rights, China Petroleum & Chemical Corp, BEIJING, Qatar Energy, China, Qatar, Pars, Thomson Locations: Vancouver , British Columbia, Canada, Shanghai, Sinopec, Iran

Sept 28 (Reuters) - U.S. oil producers Exxon Mobil (XOM.N) and Hess Corp (HES.N) have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results. The exit comes as the producers focus on their larger and highly productive Stabroek block, where more than 11 billion barrels of oil and gas have been discovered so far. The companies have transferred their stakes in the block to Ratio Guyana Limited and Cataleya Energy Limited, which originally held the exploration licenses, Exxon said. A consortium composed of Exxon, Hess and CNOOC Ltd (0883.HK) control all offshore production in Guyana through the Stabroek block. Exxon and Hess were among oil companies that submitted bids in an auction for 14 other oil and gas exploration blocks.

Persons: Exxon, Hess, Kiana Wilburg, Sabrina Valle, Chris Reese, Leslie Adler Organizations: Exxon Mobil, Hess Corp, Exxon, Guyana, Cataleya Energy, Hess, CNOOC Ltd, Qatar Energy, Thomson Locations: deepwaters, HK, Guyana, Stabroek, Georgetown, Houston

☆ Japan's Cosmo extends oil production deal with Qatar Energy
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 23 (Reuters) - Japan's Cosmo Energy Holdings Co Ltd (5021.T) said on Friday it has signed a new agreement with Qatar Energy to continue its operation in the Al-Karkara and A-Structures oil fields, which came into effect after the expiry of the current contract this month. Japan's Qatar Petroleum Development (QPD), 75% owned by Cosmo Energy Exploration & Production and 25% by trading house Sojitz Corp (2768.T), has been developing and producing crude oil in the fields, located offshore Qatar, for 25 years since the signing of the current contract in 1997. Japan's third-biggest oil refiner declined to comment on details of the new agreement, but it is a 5-year agreement, succeeding the development and production sharing agreement signed in Dec. 1997, Qatar Energy said in a separate statement. The fields started production in March 2006, and since then have produced a total of 33.5 million barrels of crude oil, according to Qatar Energy. Cosmo's oil output stood at 45,157 barrels per day in the financial year ended in March 2022, a company spokesman said.

☆ Qatar energy chief says oil and gas trade should be depoliticized
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

DOHA, Oct 24 (Reuters) - Saad al-Kaabi, the head of Qatar's state-run energy company, said on Monday all oil and gas trade should be depoliticized, calling for policies to move away from sanctions and anti-free market agreements. The Group of Seven countries agreed last month to cap Russian oil sales at an enforced low price by Dec. 5. The European Commission also last week proposed its latest set of emergency measures to tackle high energy prices, but steered clear of an immediate cap on gas prices as EU countries remain split over the idea. More than 15 EU countries, including Italy, Poland, Greece and Belgium, have called for an EU gas price cap, but disagree on its design. Germany and the Netherlands warn capping gas prices could leave countries struggling to attract fuel from global markets during a winter with scarce Russian supply.

☆ Qatar cuts al-Shaheen crude term price for December - sources
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Oct 19 (Reuters) - Qatar Energy has reduced the term price for December-loading al-Shaheen crude oil to a premium of $4.19 a barrel above Dubai quotes after receiving lower bids in its tender, several trade sources said on Wednesday. This was down from a premium of $5.35 a barrel for November-loading cargoes. The price was set after the producer sold three December-loading cargoes in a spot tender. read moreQatar Energy has also sold a December-loading Qatar Land crude cargo via a tender at a premium of $4.50-$4.60 a barrel above Dubai quotes, likely to Reliance Industries, they said. Prior to the tender, Qatar Land crude was sold at premiums closer to $5 a barrel, the sources added.

☆ Europe makes sharp U-turn from green energy - Qatar energy minister
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +3 min

Sept 29 (Reuters) - QatarEnergy CEO and state minister for energy Saad al-Kaabi said on Thursday that skyrocketing energy prices are "weighing painfully" on the global economy, dampening support for the transition to green energy. "Sadly, the growing economic burden has fizzled the euphoria over the series of energy transition plans, causing severe erosion in public support for reducing carbon emissions," Kaabi told a liquefied natural gas (LNG) conference in Japan. "Many countries particularly in Europe which had been strong advocates of green energy and carbon-free future have made a sudden and sharp U-turn. Analysts estimate Europe will need to import around 200 million tonnes of LNG over the next decade to phase out Russian gas. Kaabi stressed the need to invest in cleaner and renewable energies, including natural gas, to drive capacity and baseload capabilities.

A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. The global LNG market has more than doubled in size since 2011, ushering in dozens of new entrants and the expansion of smaller players in Asia. The capital needed to trade the market soared after benchmark LNG prices rose from record lows below $2 per million British thermal units (mmBtu) in 2020 to highs of $57 in August. LNG spot prices price stood at $40.50/mmBtu then. 'DIFFICULT TO COMPETE'High LNG cargo prices are also widening energy poverty globally as some cargoes, initially destined for poorer nations, end up being diverted to European buyers.

☆ Rights groups ask sponsors to press FIFA, Qatar on migrant worker compensation
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +3 min

Workers are seen inside the Lusail stadium which is under construction for the upcoming 2022 Fifa soccer World Cup during a stadium tour in Doha, Qatar, December 20, 2019. Qatar has faced intense criticism from human rights groups over its treatment of migrant workers, who along with other foreigners comprise the bulk of the country's population. Qatari authorities did not immediately respond to a request for comment from Reuters about the rights groups' report. read moreMinky Worden, the director of global initiatives at Human Rights Watch, said that sponsors should use their "considerable leverage" to apply pressure on FIFA and Qatar to fulfil their responsibilities to workers. In May, Amnesty and other rights groups had called on FIFA to earmark $440 million to compensate migrant workers in Qatar.

The logo of German energy utility company Uniper SE is pictured in the company's headquarters in Duesseldorf, Germany, March 10, 2020. REUTERS/Thilo SchmuelgenLONDON/FRANKFURT, Sept 19 (Reuters) - German utilities RWE (RWEG.DE) and Uniper (UN01.DE) are close to striking long-term deals to buy liquefied natural gas (LNG) from Qatar's North Field Expansion project to help replace Russian gas, three sources familiar with the matter said. Qatar Energy did not immediately respond to a request for comment. Uniper told Reuters on Monday that it remained in talks with Qatar but had not reached a deal. read moreGULF TRIPAt the moment, the two utilities buy LNG from Qatar on the spot market.

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