New base 678 special 02 september 2015

Copyright © 2015 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,

or otherwise copied without the written permission of the authors. This includes internal distribution. All reasonable endeavours have been used to ensure the accuracy of the information contained in this

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NewBase 02 September 2015 - Issue No. 678 Senior Editor Eng. Khaled Al Awadi

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

Fuel Ships Take 4,000-Mile Africa Detour as Oil Prices Plunge Bloomberg - Manisha Jha

Slumping oil prices are spurring 4,000-mile (6,400-kilometer) diversions of tankers filled with diesel and jet fuel as the price of ship fuel plunges, opening up trading opportunities.

At least five tankers will deliver refined products to European ports in August and September, sailing around South Africa rather than using the normal shortcut through Egypt’s Suez Canal, ship tracking data show.

The falling cost of fuel oil, used to power ships, has made longer voyages viable at a time when there are advantages for traders to keep cargoes at sea. Long-distance shipments between continents have increased this year, according to Torm A/S, world’s second-biggest publicly traded product-tanker owner.

Brent crude futures plunged about 50 percent since August last year as OPEC nations kept pumping more than the market needs. Across oil markets, the rout triggered what traders call contango, a price pattern that lessens the need for speedy oil deliveries because future fuel prices are higher than immediate ones.

“There’s massive demand to move oil products over very long distances,” Erik Nikolai Stavseth, a shipping analyst at Arctic Securities ASA in Oslo, said by phone Aug. 27. “These shipments tell me that there are very good times ahead for product-tanker owners,” he said, referring to ships that carry refined fuels like gasoline and diesel.




Rates Surge

Rates for hauling these fuels are surging. The sort of long-range tankers being used to sail around Africa will earn $28,375 a day this year, according to a survey of shipping specialists compiled by Bloomberg. That’s the most since at least 2010 and 19 percent more than anticipated at the end of last year.

The Baltic Clean Tanker Index, an overall measure of the cost of moving gasoline, diesel and other fuels, averaged 695 points since the start of January, the highest in four years, data from the Baltic Exchange in London show.

The journey around Africa only works occasionally, when fuel prices are low and trading conditions are right. The normal route remains through the Suez Canal, which is what most vessels are doing now, according to lists of charters and tracking compiled by Bloomberg.

Each long-range tanker is designed to deliver about 80,000 metric tons of cargo.

Extended Journeys

Extended journeys help owners because they keep ships employed for longer, effectively cutting fleet supply. As well as lower fuel prices, traders also like the option of selling cargoes en route, to West Africa, for example, where demand is rising, and to other regions including Latin America, according to Erik Broekhuizen, the head of tanker research and consulting at Poten & Partners Inc. in New York.

The trend to sail around Africa could intensify if the price slides to new lows, reducing fuel costs further and as more export refineries come on stream, in particular in the Middle East and countries like India, Broekhuizen said. That would increase demand for long-range product carriers.

A widening of the contango-- where a near-term oversupply makes gasoline and other products cheaper today than in future months -- could also spur demand. "Low fuel prices make the longer route around the Cape increasingly competitive relative to the Suez Canal," Broekhuizen said. “Another advantage of taking the longer route is that it gives traders more options of where to sell their cargoes




Russian & China trade slide affecting Gas Projects Bloomberg - Elena Mazneva Anna Baraulina Yuliya Fedorinova

As Chinese leader Xi Jinping welcomes Russian President Vladimir Putin to Beijing this week to celebrate the anniversary of the end of World War II, the news on the economic front for the two would-be allies isn’t nearly as positive.

China’s market plunge over the last few weeks has added to the pressure, helping knock the ruble to the lowest levels in months. Growing doubts about China’s economic outlook have hit prices for oil, Moscow’s main export, pushing Russia deeper into recession.

Russia, in pivoting toward China, is portraying closer relations as the emergence of a counterweight to the U.S. and Europe’s dominance. “Russian-Chinese ties have reached probably their highest level in history and continue to develop,” Putin said in a pre-visit interview with Tass and Xinhua released Sept. 1.

Economic data tell a different story. Trade between the two nations fell 29 percent in the first half of this year to $30.6 billion. Russian government officials now say that there’s virtually no chance they will hit their target of $100 billion in trade turnover this year, a goal Putin publicly embraced as recently as October. Putin in his interview didn’t mention the drop in trade this year.

Gas Deals

Gazprom signed a $400 billion gas contract during Putin’s visit to China in May 2014, a deal that Putin said would help to turn Russia’s eastern regions into the world’s largest construction site.

Since the announcement, the two countries have failed to agree on advance payments from China as a possible source of financing for the $55 billion link and fields.

Moscow’s plan for another gas pipeline from west Siberia to China has faced a cool reception from Beijing. The route is a priority for the Kremlin because it would connect Russia’s main gas fields deep in western Siberia to the Chinese market, reducing their dependence on Europe, where political pressures are squeezing demand. Analysts see little appetite in China for the pipeline because it would cross the border thousands of kilometers from its industrial centers.




Transportation has been a bright spot for cooperation. In June, Russia brought Chinese partners into a 1 trillion-ruble project to build a high-speed-rail link from Moscow to Kazan. Before sanctions, the Kremlin had been hoping to attract European companies to the deal.

Russian officials say they aren’t giving up hope. “When there is such an explosive growth of cooperation, there are always more intentions than results” at the start, Deputy Prime Minister Arkady Dvorkovich said Aug. 26 in an interview with state television.

Rhetoric Gap

“The level of Russian rhetoric about Russia-Chinese relations and the reality are quite separate things,” Alexander Gabuyev, head of the Russia in Asia Pacific Region program at the Moscow Carnegie Center, said by phone on Aug. 31. “Russia is the supplicant partner, not China, which still has a range of choices to source resources even despite its recent economic troubles.”

The biggest deal expected to be signed during the visit, according to Kremlin foreign policy aide Yuri Ushakov, is a memorandum of understanding for a new pipeline to take gas from Russia’s Far East to China. No binding commitments on the key issues of price or timing are expected. Ushakov said it’s unlikely that

Moscow’s goal of a deal on a pipeline from western Siberia to China will be met this time, either.The decline in trade this year has pushed Russia out of the ranks of China’s top 15 trade partners for the first time in more than five years.

In the interview, Putin denounced U.S. and European sanctions imposed on Russia over the Ukraine crisis as “illegitimate,” saying that they have “stimulated” Russian business to build ties with China. From Beijing, Putin heads to an economic forum in Vladivostok aimed at raising Russia’s economic profile in the region.




Petronas Could Buy Statoil's Stake in TAP Bloomberg + NewBase

Malaysia’s Petronas could acquire Statoil’s stake in the Trans Adriatic Pipeline project, known as TAP, Petronas may pick up Statoil’s 20 percent stake, sources told the news agency.

In July, president of Azeri state energy firm SOCAR told ANS TV Statoil has decided to leave the TAP project completely, and there is a company which is ready to buy its stake. However, Bloomberg reported that no final decision has been made and Petronas may choose not to pursue the acquisition.

TAP will transport natural gas from Azerbaijan to Europe. Connecting with the Trans Anatolian Pipeline (TANAP) at the Greek-Turkish border, TAP will cross Northern Greece, Albania and the Adriatic Sea before coming ashore in Southern Italy to connect to the Italian natural gas network.

The project is currently in its implementation phase and is preparing for construction of the pipeline, which is planned to begin in 2016 and likely to be complete by 2020. Once built, TAP will offer a direct route opening up the Southern Gas Corridor.

TAP's current shareholders are BP (20 percent), the State Oil Company of the Azerbaijan Republic (SOCAR) (20 percent), Norway's Statoil (20 percent), Belgium's Fluxys (19 percent), Spain's Enagas (16 percent) and Swiss company Axpo (5 percent).




US: improves monthly reporting of crude oil production Source: U.S. Energy Information Administration, Monthly Crude Oil and Natural Gas Production

With the release of the Petroleum Supply Monthly (PSM) later today, EIA is incorporating the first survey-based reporting of monthly crude oil production based on an expansion of its survey program earlier this year. Today's PSM includes EIA's first reporting of June crude oil production. EIA also begins using new survey data from multiple states and regions within the United States, and revises figures previously reported for January through May 2015.

EIA estimates U.S. crude oil production in June 2015 at 9.3 million barrels per day (b/d), a decrease of approximately 100,000 b/d from the revised May 2015 figure. Production estimates released in the PSM for January through May were revised downward by 40,000 b/d to 130,000 b/d. The largest revisions in volume include decreases of oil production in Texas (ranging from about 100,000 b/d to 150,000 b/d) and increases in the federal Gulf of Mexico (ranging from about 10,000 b/d to 50,000 b/d). U.S. crude oil production for the first six months of 2015 averaged 9.4 million b/d.

The expanded survey collects monthly oil production data from a sample of operators of oil and natural gas wells in 15 individual states and the federal Gulf of Mexico; production from all remaining states and the federal Pacific is reported collectively in an "other states" category. The states and regions individually surveyed include Arkansas, California, Colorado, Kansas, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, West Virginia, Wyoming, and the federal Gulf of Mexico.

The survey-based approach improves estimates by representing more than 90% of oil production in the United States. A detailed comparison of estimates using the expanded survey data with the previous methodology will be provided on the Monthly Crude Oil and Natural Gas Production web page later today.

Revised survey-based crude oil production estimates will not be provided in the latest PSM for Oklahoma and West Virginia in the expanded survey because EIA has not completed validation of the new estimates for those states. EIA anticipates revising data for these states in the next few months. Email Print




Botswana: UK Nodding Donkey Issued Shale Gas Licences

UK’s Nodding Donkey on Tuesday announced that its subsidiary companies have been issued with three petroleum exploration licences in Botswana, all prospective for hosting shale gas.

“We are excited at the potential of the licences to host shale gas, which can play a vital role as an energy source for electricity in Botswana and the wider African region. We look forward to

commencing work on the licences shortly,” Noel Lyons, CEO, Nodding Donkey said.

Company’s 86.95 percent subsidiary, Equatorial, has been issued with petroleum exploration licence 171/2015, which is located in the Kgalagadi district, and covers 29,291 square kilometres. The licence, which is valid for four years, is contiguous to the south of petroleum licence EL001/2012, which is controlled by Equatorial’s 85 percent owned subsidiary, Tamboran. Together, the two licences cover the entirety of the Gemsbok Basin in South-West Botswana.

Equatorial’s 85 percent owned subsidiary, Tamboran, has been issued with petroleum exploration licence 162/2015, which is located in the Ghanzi/Kgalagadi/Kweneng districts, and covers 34,435 square kilometres. The licence, which is valid for four years, is contiguous to the east of Tamboran’s licence EL001/2012, and is located within the Western Central Kalahari sub-basin.

Tamboran has also been issued with petroleum exploration licence 161/2015, which is located in the Central district, and covers 23,980 square kilometres. The licence, which is valid for four years, lies within the Northern Belt of the Central Kalahari sub-basin, and is of particular geologic significance as it covers almost the entirety of the Mmashoro sub-basin, which is a structural low that has the requisite conditions for natural gas to be hosted within shales.

In Botswana, the Group now controls four petroleum exploration licences over a combined area of 141,260 square kilometres, and two licences for coal bed methane exploration over an area of 1,574 square kilometres.




NewBase 02 September - 2015 Khaled Al Awadi

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

Oil prices extend losses on U.S. oil inventory, manufacturing data REUTERS + NEWBASE

Oil prices fell around 2 percent in early Asian trade on Wednesday, as a stronger than expected build in U.S. crude oil stocks and weaker U.S. manufacturing data fueled a rout in prices that started in the previous session.

Brent and U.S. crude finished around 8 percent lower on Tuesday to end a 25-percent three-session surge, the largest three-day gain since 1990. That came after oil prices dropped to their lowest level in 6-1/2 years last week.

This rollercoaster volatility could continue especially if there are similar wild swings in the equity markets, said Ric Spooner, chief market analyst at Sydney's CMC Markets. "Any change in sentiment tends to be amplified. Any change in direction in the oil markets has the potential to be risk driven by what's going on in the equity markets," he said.

U.S. stocks fell nearly 3 percent on Wall Street on Tuesday, with all three major U.S. equity indexes in negative territory for the year so far.

Brent crude for October delivery had dropped 85 cents to $48.70 a barrel, or 1.7 percent, as of 0324 GMT, after falling $4.59, or 8.48 percent, in the previous session.

Oil price special

coverage




U.S. crude for October delivery declined 98 cents, or 2.2 percent, to $44.23 a barrel, after ending down $3.79, or 7.7 percent, in the previous session.

Oil prices retreated after data from industry group the American Petroleum Institute on Tuesday showed U.S. crude stocks surged by 7.6 million barrels to 456.9 million in the week to Aug. 28. Analysts in a Reuters poll expected just a 32,000 barrel gain.

Official inventory data will be released by the U.S. Energy Information Administration later on Wednesday.

Weaker than expected U.S. manufacturing data from the Institute for Supply Management (ISM), which showed growth in August slowed to its lowest level since May 2013, also weighed on oil prices in the Asia timezone.

Upcoming U.S. data, including oil stocks, factory orders and employment figures, will be important in giving oil markets direction, Spooner said.

Prices are expected to hold at current levels until U.S. crude data is released, when they are expected to fall if oil inventories are higher, Singapore's Phillip Futures said in a note on Wednesday.

"We expect prices to find support at $42.18 (for U.S. crude) and $46.84 (for Brent)."

CMC's Spooner said prices were expected to end the week down, but should be above last week's lows.

Crude prices have fallen too far, too fast and should recover gradually over the next year, with Brent averaging $62.30 a barrel in 2016 and U.S. crude $57 a barrel, a Reuters poll of analysts showed on Tuesday.




Vitol Sees Price Stuck at $40-$60 to 2016 Bloomberg - Javier Blas Will Kennedy

Oil prices will remain at $40 to $60 a barrel into 2016 as rising crude supplies overwhelm demand, according to the world’s largest independent oil trader.

The oil-production surplus means stockpiles will keep expanding for “the next few quarters” and excess inventories won’t clear until 2017 at the earliest, Vitol Group BV Chief Executive Officer Ian Taylor said in an interview.

The forecast, if realized, would mean oil-producing countries and the energy industry would need to weather a longer downturn than occurred after the financial crisis of 2008-2009, when prices fell as low as $36 a barrel, but recovered to almost $80 within a year.

“Oil prices will be stuck between $40 and $60 a barrel this year and in 2016,” Taylor said. “I don’t see much reason to go higher and we can go lower” because the physical crude oil market is “quite weak” right now.

Vitol is the world’s largest independent oil trading house, handling more than five million barrels a day of crude and refined products -- enough to cover the needs of Germany, France and Spain together.

Brent crude, the global benchmark, dropped to a six-year low of $42.23 a barrel on Aug. 24, down from more than $100 a barrel a year ago. While prices rebounded to $51.81 at 9:32 a.m. on the London-based ICE Futures Europe exchange Tuesday, they remain 50 percent lower than a year-earlier.

Crude plunged after the Organization of Petroleum Exporting Countries in November diverged from its traditional policy of adjusting supply to manage prices, announcing it would maintain output to defend its position in the market. After an almost 40 percent drop in prices, the group ratified that decision in June. It is scheduled to meet again Dec. 4.




OPEC effectively began a price war against higher-cost producers including U.S. shale operations, the North Sea and ultra-deep-water discoveries in Brazil and Angola. So far, however, “non-OPEC production is proving more resilient than expected,” Taylor said.

Daily oil production outside OPEC will grow this year by 1.1 million barrels, compared with an expansion of 2.4 million in 2014, the International Energy Agency said Aug. 12. Non-OPEC supply is set to contract by 200,000 barrels per day in 2016, the first drop since 2008, it said.

Chinese Demand

Taylor, a 59-year-old trader-cum-executive who started his career at Royal Dutch Shell Plc in the late 1970s, said oil demand growth was the only bullish factor in the market. Global daily consumption will increase this year and next by about 1.5 million barrels and “we are not seeing any dramatic drop in demand in China,” he said.

While the prices slump has hurt oil producers, independent traders such as Vitol and its competitors Trafigura Beheer BV, Glencore Plc, Gunvor Group Ltd. and Mercuria Energy Group Ltd. are profiting from the increase in volatility. The Chicago Board Options Exchange Crude Oil Volatility Index, a measure of fluctuations in prices, averaged 44.28 so far this year, almost double the level in 2014.

These companies also benefit from a market structure called contango -- where forward prices are higher than current costs. This allows traders to buy oil, store it in tanks and lock in a higher selling price for a later date using derivatives.

Contango Trade

“Contango opportunities are emerging, particularly in products,” Taylor said. Onshore inventories are currently expanding at a rate of 1.5 million barrels a day, although the price incentive is not strong enough to store fuel offshore in tankers, he said.

The price difference between the front-month Brent contract and a year-forward has more than doubled since early July to $7.88 a barrel. The contango is deeper in some refined products, including fuel-oil, Taylor said.

Vitol is betting that demand for oil storage will continue to grow. Varo Energy, partly owned by Vitol and private-equity fund The Carlyle Group, announced Tuesday it has agreed to take full ownership of Rhytank AG, which operates oil tanks in Switzerland. Another Vitol-led venture said Aug. 21 it would pay $830 million for the 50 percent it didn’t already own in storage company VTTI BV from MISC Bhd., a shipping group owned by Malaysia’s national oil company.

Vitol earned $1.35 billion last year, the most since 2011, as the trader profited from price swings in the energy market and the widening contango. The company, formally based in Rotterdam, but with big operations in London, Geneva, Singapore and Houston, reported net income of $837 million in 2013, its worst result in 10 years.




GCC growth to remain strong despite lower commodity prices: QNB

Gulf Times .. Growth in the GCC is expected to “remain strong” despite lower commodity prices, QNB said as it maintains its “overall positive outlook” for the region, with a growth forecast of 4-4.5% for 2015-16. On the United States, QNB Economics said the US economy looked very much

on track. The second quarter GDP is expected to be revised up to 3.2% and activity data were indicating above-trend growth in Q3, QNB said in in its “economic outlook”.

Many market participants were bracing themselves for a Fed rate hike in September, but the ongoing volatility in markets and tighter US financial conditions have led some to push out their call for the date of the first rate hike. Regardless of its exact start date, QNB expects the tightening cycle to be slow and gradual, leading US growth to average 2-2.5% in 2015-16.

The Q2 GDP in the Euro area was slightly weaker than expected (0.3% quarter-on-quarter), but composite Purchasing Managers’ Index (PMI) was still showing expansions in July and August.

The region still faces headwinds from weak potential growth and high unemployment. The turmoil in financial markets has led to the appreciation of the

euro, which could hurt exports. But the region still benefits from a fading fiscal drag, improving credit channels and now even lower oil prices. QNB therefore expects the Euro area to grow by 1-1.5% in 2015-16.

China has slowed down significantly in July and August, QNB said. Growth in retail sales (10.5%) and industrial production (6%) fell in July. Exports dropped by a much larger than expected 8.3% in July.

August flash manufacturing PMI was the weakest since the financial crisis (47.1). Weak data prompted the authorities to surprise markets and devalue the currency on August 11. This has triggered major turmoil in global financial markets and led to steep declines in Chinese equities. The authorities responded by easing monetary policy and cutting rates.

And QNB expects further stimulus measures to be implemented this year in order for growth to reach 7% in 2015 and 6.4% in 2016.

On emerging markets, QNB said lower commodity prices and financial market turmoil are rattling EMs. China’s surprise devaluation resulted in capital flight into safe havens. This led to the depreciation of the currencies of commodity-rich countries such as Indonesia, South Africa and Latin American nations, but also countries with large trade exposure to China such as Taiwan, Thailand and South Korea.

Vietnam followed China’s steps by devaluing its currency, and lower oil prices forced Kazakhstan to abandon its peg to the US dollar. “Overall, we expect EMs to grow by 3.5-4% in 2015-16,” QNB said.




NewBase Special Coverage

News Agencies News Release 25 Aug 2015

Obama pushes for more U.S. ice-breaking might in Arctic Reuters + NewBase

President Barack Obama on Tuesday will propose a faster timetable for buying a new heavy icebreaker for the U.S. Arctic, where quickly melting sea ice has spurred more maritime traffic, and the United States has fallen far behind Russian resources.

It 's a move that has long been urged by Arctic advocates inside and outside the administration as the nation prepares for more shipping, mining and drilling in the region.

But the vessels are valued at about $1 billion each, and the U.S. Congress would need to agree to pay for the expansion.

Obama will say that the government should buy a heavy icebreaker by 2020 - a year when routine Arctic marine transit is expected - instead of the previous goal of 2022.

He also will propose to start planning for additional icebreakers. The White House said move is required for safety in the changing Arctic - and to keep up with Russia.

The U.S. Coast Guard used to have seven icebreakers, but the fleet has dwindled to three creaky vessels, only one of which is a heavy duty vessel, the White House said. "Russia, on the other hand, has 40 icebreakers and another 11 planned or under construction," the White House said.

During the past year, Obama has taken steps to seal off parts of Alaska from new drilling, although environmental groups are howling about a recent decision to allow Royal Dutch Shell to drill off the northwest coast of the state.

Obama's administration also will update outdated maps for regions with newly open waters, and survey a transit route through the Aleutians and Bering Strait, the White House said.




Obama will spend the second day of his Alaska tour in the picturesque coastal town of Seward, named after President Abraham Lincoln's Secretary of State William Seward, who negotiated the purchase of Alaska in 1867 from Russia.

Obama plans to hike the Exit Glacier near Seward and take a boat tour of Kenai Fjords National Park to see the impact of rising seas.

"Climate change is no longer some far-off problem. It is happening here. It is happening now," Obama said on Monday in an address urging the world to agree later this year to new targets for cutting carbon emissions.

On Monday, residents spruced up the town after a recent wind storm. "We get to showcase our piece of paradise to the president of the United States, and that means a lot to us as it would any town," Seward Mayor Jean Bardarson said in an interview.

Obama defends Shell Arctic drilling decision

The Obama administration's green light for the Anglo-Dutch oil giant angered environmental groups which have decried the "hypocrisy" of the president, who in recent months has stressed the need for aggressive actions against climate change.

Opponents note how the decision comes in the run-up to the UN climate conference in Paris in December. The meeting is seen as crucial in efforts to forge an agreement to curb international emissions.

"I know there are Americans who are concerned about oil companies drilling in environmentally sensitive waters," Obama said in his weekly address, noting that the drilling leases had been purchased before he took office.

"I share people's concerns about offshore drilling," he added. "I remember the BP spill in the Gulf of Mexico all too well. That's precisely why my administration has worked to make sure that our oil exploration conducted under these leases is done at the highest standards possible ... We don't rubber-stamp permits."

Obama on Monday begins a three-day trip to Alaska, the largest state in America which is already seeing the effects of climate change, including melting glaciers and the thawing of permafrost. "Alaskans are already living with (climate change's) effects. More frequent and extensive wildfires. Bigger storm surges as sea ice melts faster. Some of the swiftest shoreline erosion in the world," he said.




Kuwait:KPC,‘Diamond Sponsors’ of 15th Industrialists’ Conference

The Gulf Organisation for Industrial Consulting (Goic) has announced that Kuwait Petroleum Corporation (KPC) and its subsidiary companies are Diamond Sponsors for “15th Industrialists’ Conference” slated on November 25 and 26 in Kuwait.

With the theme “Foreign Direct Investment in GCC and its Impact on Industry,” the event is organised by Kuwait’s Ministry of Commerce and Industry, the Public Authority for Industry (PAI), and Goic, in collaboration with Kuwait Direct Investment Promotion Authority (KDIPA), Kuwait Chamber of Commerce and Industry, the Industrial Bank of Kuwait and Kuwait Industries Union, and in co-ordination with the Secretariat-General of the Gulf Co-operation Council and the Federation of GCC Chambers (FGCCC).

KPC is fully-owned by the State of Kuwait and managed on a commercial basis. It is one of the “most important oil and gas companies in the world.” Its activities include discovering new reservoirs, producing, refining, marketing and manufacturing petrochemical products, and transport.

Its mission is to manage and operate these integrated activities worldwide through “efficient and effective means,” maximise the value and financial benefits of stakeholders, and optimise the use of Kuwait’s hydrocarbon resources.

KPC also plays a key role in supporting and stimulating the local economy, developing national labour force, preserving experienced commercial and technical cadre, and managing issues related to health, safety and environment.

According to Goic, the 15th Industrialists’ Conference aims to identify clear policies to stimulate development plans in the GCC countries based on a comprehensive set of elements to attract foreign investors.

It also seeks to create an ambitious strategy to develop and promote the industrial sector in order to attract more foreign investments. Furthermore, it aims at enacting legislations and laws and offering facilitations and incentives to foreign investors in order to create a promising investment environment.

“The conference will develop recommendations and suggestions to improve the investment environment and overcome obstacles hindering foreign investments and directing foreign investments in accordance with GCC strategic plans to achieve their development goals and maximise the benefit from these investments. In addition to that, they will work on determining key pillars of GCC investment plans in the industrial sector,” Goic added.




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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

Mobile: +97150-4822502 [email protected] [email protected]

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 02 September 2015 K. Al Awadi




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New base 678 special 02 september 2015

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