Refining & Petrochemicals ME - May 2010

NEWS, DATA AND ANALYSIS FOR THE REFINING AND PETROCHEMICAL INDUSTRIES MAY 2010

NEWS 05 | BUILD & PROJECTS 09 | SCIENCE & TECHNOLOGY 11 | DOWNSTREAM DATA 30 | FACE TO FACE 32

REFINED AMBITION

An ITP Business Publication, licensed by Dubai Media City

BAHRAIN’S VISIONOPPORTUNITIES FOR BUSINESS

WITH SITRA REFINERY EXPANSION

REACTION BOOSTERSCATALYST QUALITY AND COST

UNDER THE MICROSCOPE

At the launch of the Laffan Refi nery, Faisal Al-Suwaidi, CEO of Qatargas says his next priority is to double output by 2015

20 CATALYST MARKET ANALYSISCatalyst purchasing and licensing deals have come under increased scrutiny as producers try to drive down operational costs.

24 PETROTECH 2010 OVERVIEW More than 3000 delegates and 100 companies from 20 countries will fl ock to Bahrain for May’s Petrotech event. Dow Chemical and Hyperion Systems engineering speak to RPME ahead of the event.

26 CAPEX CORNERFollowing the second year of higher than average spending plans, Contax Group Partners ask: Are we ready for the next peak?

30 NUMBER CRUNCHERRefi ning and Petrochemicals Middle East provides market data and analysis for the region’s listed downstream companies

32 FACE TO FACE Meet Ruya Bayegan, board member of Bayegan Group.

5 REGIONAL NEWSSABIC’s profi t swings to $1.4bn • Qatar attacks EU taxes • CONOCO exits Yanbu deal • Syria scraps refi nery deal

10 MIDDLE EAST MARKET UPDATEBuild & Projects • Operations & Maintenance • Science & Technology • Equipment & Machinery • Sales & Shipments

14 BAHRAIN COUNTRY PROFILEDespite a small feedstock and resource base, Bahrain is boosting investment across its downstream industries.

16 LAFFAN REFINERY UNVEILEDExclusive: The CEO of Qatargas, Faisal Al-Suwaidi, says the newly inaugurated Laffan Refi nery is key to Qatar’s growth.

May 2010 Volume 03 Issue 05IN PRINT

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1Contents

Refining & Petrochemicals Middle East May 2010www.arabianoilandgas.com

Online2

Refining & Petrochemicals Middle East May 2010 www.arabianoilandgas.com

Kuwait is set to review gas and condensates pricing methodology due to the increase of demand and limited availability.

arabianoilandgas.com

Linking gas prices with oil prices topped the agenda of the tenth ministerial meeting of the gas exporting countries forum (GECF) held in Oran, Algeria, on the sidelines of the LNG 16 conferencearabianoilandgas.com

MAY EVENTS ROUNDUPONLINE GALLERY

The online home of:

P

1 12 missing in Gulf of Mexicooffshore rig blaze

2 Iran hoarding up to 38m barrels on supertankers

3 Conoco withdraws from Saudi Aramco’s Yanbu project

4 GE awarded $100M contractby Petrofac in Algeria

5 Schlumberger JV nets Chevron service contract

Vietnam will sign an agreement with Saudi Arabia to encourage Saudi Aramco to invest in two refi neries to be built in the Asian country.


Higher margins and one off income helped Saudi based Rabigh Refi ning and Petrochemical Co (PetroRabigh) post its fi rst quarterly net profi t after starting operations at its $10.1 billion complex.arabianoilandgas.com

EDITOR’S CHOICE

DOWNSTREAM WEEK Major issues facing the downstream industry thrashed in Abu Dhabi.


WEB FORUM

An Eye on LNG16Arabianoilandgas.com picture gallery takes you behind the scenes of LNG16 Conference, the mega energy conference dedicated to the LNG, held in Oran, Algeria.


BREAKING NEWS AND VIEWS FIRST

MOST POPULAR NEWS

KUWAIT REVIEWS GAS PRICING METHODOLOGY

ARAMCO, SUMITOMO JV MAKES Q1 PROFIT AFTER LAUNCH

SAUDI AND VIETNAM MULL OIL REFINING DEALS

LINKING OIL AND GAS PRICES TOPS GECF AGENDA

APIC CoverageArabianoilandgas.com reporters and photographers will be present in Mumbai, India to cover Asia Petrochemical Industry Conference (APIC).


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Is there a quick fix for KSA’s refining sector?Saudi Arabian refining has suffered a lot since the beginning of this year.

Three major development projects face an unclear future that may lead the government to review its generous subsidies for the sector.

In January, plans to privatise the Jizzan Refinery were scrapped, in favour of Saudi Aramco carrying out the project without any international partners. Because of this procrastination, the refinery is expected to be delayed by up to two years. Then, in March this year, Dow and Aramco revealed that they were considering shifting their integrated project from Ras Tanura to somewhere else – while some sources have speculated that they are thinking of shelving it altogether. In April, ConocoPhillips sent a formal written notice to Aramco announcing its withdrawal from the new export refinery project in Yanbu, on the western coast.

While Saudi Arabia aims to meet the increasing demand on refined products, mainly diesel, the exit of ConocoPhillips is a blow for the Kingdom’s

efforts. There is no doubt in my mind that Saudi Arabia will execute all the announced projects, in spite of the challenges

it faces. However, significantly increasing the price of gasoline and diesel and thereby decreasing local consumption, could be a quick fix for this critical issue.

Fuel prices in Saudi Arabia remain among the lowest in the world at 15 US cents a litre. This subsidised price

encourages wasteful consumption, as well as smuggling to neighbouring countries. Increasing prices would force

people to rationalise fuel consumption.The coming weeks will be critical for industrial

drivers in Saudi Arabia, as a decision to increase prices looms on the horizon. That would be the

quickest fix for the issue.

Abdelghani Henni, editore-mail: [email protected]

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Comment4


SABIC’s profit surges to US$1.4bnNews

Saudi Basic Industries Corpora-tion (SABIC) net profi ts surged to US$1.44bn in the fi rst quarter of 2010, compared to a net loss of $258m during the same period in 2009, the company said.

Operating profi t for the quar-ter reached US$2.58bn, com-pared to US$101m for the same period a year earlier. Earnings per share for the fi rst quarter stood at US$0.48, versus a loss of US$0.085 per share recorded for the same period in 2009.

Improved prices and new pro-duction helped SABIC recover from its loss a year earlier, caused by a slump in the automotive, construction and consumer in-dustries. Prices for olefi ns and chemical intermediates have ad-vanced on greater demand.

SABIC vice chairman and CEO Mohamed Al-Mady noted that the rise of net profi ts in the fi rst quarter can be attributed to the rise of both production and sales volumes, as well as a remarkable improvement in the prices of most petrochemical products and plastics.

Al-Mady added that future profi tabiliy of SABIC’s petro-chemical and iron products largely depended on the extent the global economy will grow, and how fast it will recover from the crisis of the last two years. “We are overcoming the impacts of the global fi nancial crisis, as well as continuing our strategy of growth

All subsidiaries are profitable in first quarter of 2010, but not everyone is impressed

and investment in new industrial plant,” he said.

He also pointed out that the cur-rent year is seeing more produc-tive capacity added through the completion of projects at SHARQ, YANSAB and the joint-venture petrochemical complex in Tianjin, China. “As economies strengthenthis will also positively affect the company’s performance and pro-duction,” Al-Mady observed.

Al-Mady also said that all of SABIC’s subsidiaries have con-tributed to the profi t, including GE Plastics. Even the subsidiary Yanbu National Petrochemical Company (Yansab), which was only launched in the fi rst quarter, was already profi table, recording

earnings of US$69.2m. In addi-tion, SABIC benefi ted from im-proved earnings at other local units, as Saudi Arabian Fertilizer Company’s fi rst-quarter profi t rose 33% to US$168m.

The company is also expand-ing its iron capacity. SABIC is currently constructing an iron plant which will have an annual capacity of one million tonnes, Al-Mady said. Together with the expansion of existing plants, its

SABIC profi ts per sector (in billion US$)

Sector Petrochemicals Fertilisers Steel Consolidation adjustments

Total

1st Quarter 2010 1.60 0.269 0.037 - 0.618 1.44

1st Quarter 2009 - 0.637 0.178 - 0.053 0.253 -0.258

output will help meet growing do-mestic demand.

Not all observers were im-pressed with the result. “Exclud-ing SAFCO and Yansab addition-al quarter on quarter earnings impact, SABIC net income rose US$159m, which is not impres-sive,” said Laurent-Patrick Gally, vice-president of SHUAA Capi-tal Research. “The steel division Hadeed spoiled what could have been a strong quarter.”

The future profitability of SABIC’s petrochemical and iron products is largely dependant on the extent of recovery and growth of the global economy.

MAY 2010

Source: Argaam.com

5News

Al Attiyah attacks EU taxesQatari energy minister raps EU taxes on GCC petrochemicals

The Qatari deputy prime minis-ter and minister of energy and industry Abdullah Al Attiyah has lashed out at the taxes levied by the European Union (EU) on petrochemical imports from the Gulf Cooperation Council (GCC) states.

Orascom buys fertiliser activities of DSM

Iran to privatize refineries

Dutch’s Royal DSM and Oras-com Construction Industries (OCI) from Egypte announced they have reached an agree-ment for the sale of DSM Agro and DSM Melamine to OCI for US$415.5 million on a cash and debt-free basis with effect from 1 January 2010.

The intended sale is expected to close in Q2 2010, subject to regulatory and other customary approvals and notifi cations.

“For DSM the intended sale of both business groups is an

Iran plans to privatize all its refi neries and petrochemical plants, according to Iranian Oil Minister Massoud Mirkazemi.

“Work on the privatization of oil companies has begun. All petro-chemical units and refi neries will be ceded to private sector, includ-ing service, drilling and support companies,” he said.

Iran, the world’s fi fth-largest crude exporter, is speeding up the sale of state holdings to encourage private investment.

The government recently trans-ferred shares in six petrochemi-cal plants and power stations to a social welfare investment orga-nization of the armed forces as a means of repaying debts to the organization.

Almost 300 000 widely used oil byproducts will get the Iran code stickers by the end of the Iranian fi scal year, the minister also said, adding that the distribution of the products will also be mechanized.

Speaking at the inaugura-tion ceremony of the Qatalum Melting Plant, Al-Attiyah said that the European Union ma-nipulates the GCC countries in the worst way and invent pretexts in order to impose protectionist taxes.

“This is absolutely an unfair approach. The GCC have to adopt a collective measure in response to this treatment be-cause a strong reaction could force the Europeans into taking our demands into account,” the minister urged.

Qatar is taking the lead in adding value to its huge gas reserves, and fears any protective measurments would impact its exports.

SAFCO posts 33% profit increase in Q1 2010The Saudi Arabian Fertilizer Company (SAFCO) has posted a 33% profi t increase to US$186.1m during the fi rst quarter of 2010, compared to $139.8m during the same period 2009, the company said in statement.

The company attributed this profi t increase to rising urea and ammonia prices in the the three fi rst months of 2010, in addition to increasing sales.

SAFCO is the world’s largest producer urea and ammonia. It produces 2.2m t/y of urea, and 2.09m t/y of ammonia, through its four subsidiaries.

Ammonia and urea prices roseto a one year high in February.

important step forward in the realization of its Vision 2010 ambitions to focus on life sci-ences and materials sciences,” DSM said in statement.

“The transformation of DSM’s portfolio is an impor-tant prerequisite for achieving these ambitions. As announced in September 2007, DSM Agro and DSM Melamine do not fi t with this focus,” it added.

With the acquisition of DSM Agro, the OCI Fertilizer Group expands its customer base in

key European markets to which the group will be able to offer a wider range of products includ-ing urea, ammonia, calcium ammonium nitrate (CAN), urea ammonium nitrate (UAN), and ammonium sulphate (AS). “OCI believes that healthy synergies exist through a wider product portfolio and distribution infra-structure in Europe.

OCI will assume responsibility for the business results of DSM Agro and DSM Melamine from the fi rst half 2010 onwards.

News 6


Syrian government scraps refinery deal The Syrian government has can-celed a deal with Kuwait’s Noor Financial to build a 140 000 bar-rel per day refi nery in eastern Syria, Oil Minister Sufi an Alao has said.

“This project is no longer among our current plans,” Alao told Reuters.

The announcement is another setback to government efforts to attract investment in the ail-

ing refi ning sector and meet do-mestic demand, with the coun-try relying on two old refi neries that have a combined capacity of 240 000 bpd.

Noor and the Syrian govern-ment signed a memorandum of understanding in 2007 to con-struct the US$1.7 billion refi nery. Consultancy fi rm Wood McKen-zie was hired to undertake a fea-sibility study last year.

Alao did not give a reason for ending the deal. He said the gov-ernment remained in talks with other foreign investors to fi nance two refi neries that could double Syria’s capacity.

Noor is a division of the Na-tional Industries Holding Group, a Kuwaiti conglomerate linked to the Kharafi s, a Gulf business and political family, which also aims to invest in Algeria and Egypt.

Saudi International Petrochemicals Company (Sipchem) posted a US$21.6m profi t in the fi rst quarter 2010, compared to $7.78m a year ago. The increase was due to the improvement of chemical prices and an increase in profi ts margins of the company’s main products, including methanol and butanediol.

Abu Dhabi National Chemicals Company (Chemaweyaat) is set to award front end, engineering and design (FEED) works in the summer. The multi billion dollar project is located in the Taweel area in Abu Dhabi, and owned by IPIC which controls 80% and ADNOC, and holds 20% of the project.

Five OAPEC members dominate more than 70% of energy investments in the Arab world, with a total estimate of US$470 billion, the Organization of the Arab Petroleum Exporting Countries (OAPEC) said. The countries are Algeria, Kuwait, Saudi Arabia, Qatar, and the UAE.

LyondellBasell announcedthat the company has emerged from Chapter 11 bankruptcy protection. The company’s plan of reorganisation was confi rmed by the United States Bankruptcy Court for the Southern District of New York with the approval of a majority of the voting creditors.

BriefsConoco bails on Yanbu deal

Saudi Aramco confi rmed that it had received a formal written notice from ConocoPhillips an-nouncing its withdrawal from the new export refi nery project to be built at Yanbu on Saudi Arabia’s western Red Sea coast.

Saudi Aramco said that, while regretting ConocoPhillips’ de-parture from the project, it was evaluating its options to develop

Saudi Aramco evaluating options to develop the refinery project

Yanbu. The company is optimis-tic about the project. “The project is anticipated to generate strong returns due to attractive capital costs, a best in class operating cost structure, and an ideal location for serving local and globalmar-kets,” said Khalid Al-Buainain, senior vice president of refi ning and marketing at Saudi Aramco.

“The Yanbu Export Re fi nery

is a full-conversion refi nery de-signed to process Arabian heavy crude. It will produce high-qual-ity, ultra-low sulfur refi ned prod-ucts, including about 265 000 b/d of diesel and 90 000 b/d of gasoline. These products will meet the strictest international specifi cations, and can be sold globally to the highest valued markets.” he added.

Yanbu Export Refinery is a full-conversion refinery designed to process Arabian heavy crude and will produce high-quality refined products.

7News


BUILD&PROJECTS8


SABIC and Celanese announce polyacetal expansion project

Rabigh Refi ning and Petro-chemical Company (PetroRab-igh) is looking for contractors to start work on the second phase of its giant petrochemicals com-plex, located in Rabigh, on the red sea coast of the Kingdom.

“They have just issued the solicitation of interest, there are seven construction packages.Contractors are requested to re-spond by the end of this month,” said one source.

Phase II of the project will add about 17 new products, and is estimated to cost US$6.67bn.

A fi nal investment decision on the project will be taken once the study is completed and reviewed, during the second half 2010.

Japan’s JGC Corporation is currently conducting a feasibil-ity study on Phase II which is due to be completed by the third

quarter this year. “Each pack-age consists of several process units,” one contractor said.

As part of the expansion, Petro Rabigh will consider increas-ing the capacity of the existing ethane cracker to take in an ad-ditional 30 million cubic feet per

Daelim scoops US$426m LDPE contract in KSADaelim Industrial Company said it received a US$426 million EPC contract from Saudi Kayan Petrochemical to construct an LDPE plant in the Kingdom.

The contract is for the con-struction of a low-density poly-ethylene (LDPE) plant with an annual capacity of 300 000 tonne in Saudi Arabia’s Al-Jubail Industrial City, Daelim said in a fi ling to the Korean stock exchange.

The company expects to com-plete the EPC works within the fi rst half 2012, according to the fi ling.

PetroRabigh is seeking contractorsPhase II of the project will add 17 new products, with an estimated cost of US$6.67bn

day (cfd) of ethane feedstock.The PetroRabigh is also con-

sidering to build a new aromatics complex using around 3m t/y of naphtha as feedstock. It will also look at constructing various pet-rochemical units within the exist-ing complex.

Celanese Corporation and Saudi Arabia Basic Industries Corpo-ration (SABIC) announced that their National Methanol joint venture company (Ibn Sina) will construct a 50 000 tonne poly-acetal (POM) production facility in Saudi Arabia.

Construction of the facility is part of an extension of the Ibn Sina joint venture. “Engineering and construction of the facility is expected to begin later this year,” accoding to Ibn Sina.

The total cost of the project will be around US$400 million.

Ibn Sina produces methanol, a key feedstock for POM produc-tion, as well as methyl tertiary-butyl ether (MTBE).

Once the exansion has been completed, Celanese will in-crease its stake in the JV.“Upon successful startup of the POM facility, Celanese’s eco-nomic interest in Ibn Sina will increase from 25% to a total of 32.5%, providing further fi nan-cial benefi ts for Celanese,” the company said in a statement.

Celanese, SABIC and Duke Energy Corporation entered into the Ibn Sina joint venture

The first phase of the $10.3bn integrated project was inaugurated last November, and produce 2.4m t/y of petrochemical products.

PetroRabigh, is a joint venture between Saudi Aramco and Sumi-tomo, with 25% of the company is listed in the Saudi stock exchange. It can process 400 000 barrels of crude per day, accounting for about 19% of Saudi Arabia’s total refi ning capacity.

in 1981. Celanese and Duke En-ergy currently each hold a 25% interest in the venture, with the remaining 50% held by SABIC.

“SABIC’s economic interest will remain unchanged. Over the past three years, Celanese has received approximately $238 million in dividends from the venture,” Celanese added.

US$400mThe cost of the new

polyacetal (POM) projectSource: Celanese

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OPP resumes productionOman Polypropylene (OPP) has restarted its polypropylene plant which is located at Sohar, Oman, after conducting maintenance work.

The maintenance tasks, which lasted several weeks, started with mandatory internal cleaning and inspection of static pressure ves-sels, heat exchangers, process fi lters, periodic testing and cali-bration of safety valves, critical

manual valves and control valves. In addition to priority plant mod-ifi cations, the turnaround period was also used to replace the two existing stainless steel powder discharge vessels with new carbon steel vessels, using a 800-tonne capacity wheel mounted crane.

OPP is a joint venture the be-tween Ministry of Finance (40%), Oman Oil Company (40%) and LGi Corporation (20%).

Sharq starts commercial operationSaudi Arabia Basic Industries Corporation (SABIC) said that its subsidiary Eastern Petrochemi-cal Co. (Sharq) has started com-mercial operation at its expand-ed petrochemical complex at Al Jubail industrial city.

In a statement to the Saudi stock exchange, SABIC said that commercial production started on April 1st. The third expansion has increased the capacity of its MEG plant to 1.38m t/y from 700 000 t/y. The project will consolidate Sharq’s position as the largest single MEG producer in the world.

The third expansion project has increased the capacity of its MEG plant to 1.38m t/y

The expansion doubled Sharq’s polyethylene capacity to 1.55m tonnes per year.

OPP’ maintenance work was done by an inhouse engineering team. Advanced Petrochemical Company posted a 23% profit increase during Q1.

APC plant back in businessSaudi Arabia’s Advanced Petro-chemical Company (APC) has restarted its 450 000 t/y poly-propylene (PP) plant at Al-Jubail industrial city after completing maintenance works, the company said in statement.

The plant was shut down for three weeks for maintenance and a catalyst change.

The company’s 450 000 t/y propane de-hydrogenation (PDH)

OPERATIONS&MAINTENANCE

unit at Al Jubail, which provides feedstock to the PP plant, re-mained shut during the mainte-nance period.

Despite the shutdown, the com-pany posted a 23% pro fi t increase during the fi rst quarter 2010 to US$14.02m, compared to $11.43m for the same period in 2009.

The increase was a consequence of rising polypropylene prices, said the company.

The new expansion also dou-bled the company’s polyethyl-ene capacity to 1.55m t/y.

With the new 1.3 m t/y crack-er in operation, cracking capac-ity at the complex has more than doubled to 2.46m t/y.

The company started the commissioning of its third ex-pansion project in November.

Sharq is a 50:50 joint venture between Saudi Arabia Basic Industries Corp (SABIC) and Saudi Petrochemical Develop-ment Corporation (SPDC), a Japanese consortium led by the Mitsubishi group.

10


10

SIP launches new techSABIC Innovative Plastics (SIP)launched a new Lexan polycar-bonate (PC) fi lm technology – Lexan EFR fi lm – that delivers non-brominated, non-chlorinat-ed fl ame retardance (FR) at thin-ner gauges than fl ame-retardant polypropylene (FRPP).

This new material enables elec-trical/electronics (E/E) OEMs to create fl atter, lighter-weight note-book computers and other elec-tronic devices while signifi cantly

reducing material costs, giving them a competitive advantage.

The new Lexan EFR fi lm en-ables global E/E manufacturers to go beyond current environmental directives by voluntarily eliminat-ing halogenated additives in their products.

“As E/E OEMs step up to meet anticipated and ever-tightening environmental requirements, we are taking the initiative in engi-neering precisely targeted ma-terials technologies to help pro-actively address these changes,” said Lennard Markestein, global marketing director for specialty fi lm and sheet at SABIC Innova-tive Plastics. “We are very serious about furthering our leadership position by delivering superior environmentally progressive so-lutions that allow customers to distance their competition.”

SABIC develops advanced PP catalystSaudi Arabia Basic Industries Cor-poration (SABIC) has developed an new catalyst for producing poly-propylene.

This catalyst has already con-tributed to increased productivity, enhanced quality and new product development. There is potential for its future use in different applica-tions, said the company.

The new catalyst has been ap-plied commercially by the Saudi European Petrochemical Com-pany (Ibn Zahr), a SABIC affi liate, and has been proven superior to the catalyst previously used by the company.

The fourth generation catalyst is the fi rst of its kind developed in the

The new catalyst can be used in several applications including packaging and pipes

SCIENCE&TECHNOLOGY

Borouge presents new technologies at Wire 2010

Dow expands catalyst offering

Dow Chemical Company has ex-panded its catalyst system offering with CONSISTATM D7000 Donor, designed specifi cally for high melt fl ow (HMF) applications. The fi rst product in Dow’s new CONSISTA portfolio of advanced catalyst sys-tems, CONSISTA D7000 enables polypropylene manufacturers to achieve the performance differen-tiation needed to enter premium markets, while realizing the ben-efi ts of better on-stream time, bet-ter plant operability and reduced production costs.

“CONSISTA D7000 helps poly-propylene producers differentiate their products and seize profi table market opportunities,” said Cherie Holliman Wrenn, product market manager at Dow Basic Plastics Li-censing and Catalyst, a business unit that licenses UNIPOL Poly-propylene Process Technology.

Gulf and Middle East. By using the catalyst, production

reached nearly 30 000 tonne of polypropylene at the end of March 2010. The product was sold to local and international markets.

The catalyst can also be used in several vital applica-tions, the most important of which are packaging, carpets, piping, and automotive parts. Investing in R&D is part of SABIC’s ambitious growth plans.

“Our efforts have yielded this milestone, which is in line with the corporate goals and strategic plans of strengthening our posi-tion among the world’s leading petrochemical companies,” said

Mohamed Al-Mady, SABIC vice chairman and CEO.

“I can assure you that SABIC continues to improve its working

The new catalyst has been applied commercially at the Ibn Zahr affiliate to produce PP.

The new material is used in different fields.

environment in order to advance innovation and creativity in all the company’s sites around the world,” he added.

Abu Dhabi Polymers Compa-ny (Borouge) and Austrian’s Borealis are expected to pres-ent their new technology for high voltage (HV), extra high voltage (EHV), and direct current (DC) applications so-lutions for the wire and cable industry at Wire Dusseldorf 2010, Borealis said.

Advances in Supercure XLPE cable insulation tech-nology will be showcased alongside low voltage Visico /Ambicat insulation, and the complete line of insulation and jacketing products from the Borcell, Borstar and Ca-sico ranges. The event will be an opporutinty to both part-ners to showcase their cutting edge technologies.


11

Tendeka launches monitoring systemTendeka has launched its Sensor-net Oryx-XR Distributed Tem-perature Sensing (DTS) system, designed for use in harsh envi-ronments.

The Oryx-XR is an en-hanced version of the original Oryx system, which was launched in 2009. “The upgraded model has an extended sensing range, increased from 4km to 12km, and an improved m e a s u r e m e n t p e r f o r m a n c e , which can pro-

The upgraded model has a sensing range of 12km and better measurement performance

vide a temperature resolution as fi ne as 0.010C,” said Dan Watley, Tendeka’s vice president for Digital

Monitoring.The autonomous,

low powered device provides tempera-ture samples every

metre along a fi bre, and has a wide op-erating temperature window of between

-50C to 650C. It can be operated by solar or

wind power. The p e r m a n a n t standalone unit

contains the sensing optoelectron-ics and operates remotely with an intuitive, user-friendly software interface, making it a simple-to-use and easily transportable system.

The Oryx-XR features an inbuilt multiplexing module with either two or four channels, enabling it to make up to four single-ended measurements, or two double-ended measurements. It provides data back to the client’s offi ce by any available satellite, radio or fi bre communications link, making it a powerful remote logging DTS unit.

The system has been designed to complement the performance

of Tendeka’s existing range of Sen-tinel DTS units, making it suitable for the toughest monitoring chal-lenges and enviroment, such as horizontal well activity.

The Oryx-XR is a natural pro-gression of the original system. Technology developments mean it can now provide monitoring across greater lengths and even smaller temperature differences. Operators are increasingly targeting harder to reach reserves with increasingly complex wells and the Oryx-XR technology is ideally suited to mon-itoring for these challenging appli-cations, says Watley.

Dan Watley, Tendeka VP.

News 12


EQUIPMENT&MACHINERY12

SALES&SHIPMENTS

Cristal hikes TiO2 pricesCristal Global (Cristal) an-nounced that, effective from May 1st, or as permitted by contract, it will increase prices on all of its anatase and rutile Tiona and Cristal titanium dioxide (TiO2) products sold in Latin America to US$200 per metric tonne in all countries across the region.

“This price increase is in ad-dition to previously announced price increases,” it said.

Cristal is a subsidiary of Saudi Tasnee, which acquired the com-pany in 2007 for US$1.3bn.

Cristal Global is the world’s sec-ond-largest producer of titanium dioxide and a leading producer of

titanium chemicals. Cristal Global operates eight manufacturing plants in six countries on fi ve con-tinents and employs nearly 4,000 people worldwide.

Saleh Al-Nazha, Tasnee Petchem president.

ADNOC meets Asian naphtha clientsAbu Dhabi National Oil compa-ny (ADNOC) met Asian naphtha customers in Singapore to dis-cuss supplies for July 2010-June 2011 delivery, unusually early for any contract negotiations.

But traders said the face-to-face talks held between April 19-21 were unlike their usual nego-tiations via fax. They were aimed at enabling ADNOC to get a feel of the volumes needed by buyers at a time prices are still holding fi rm before sliding in the coming months, the traders added.

The term buyers involved in the one-year contract include Taiwan’s Formosa, Japan’s Mar-ubeni and Itochu and South Ko-rea’s Honam, which last month dropped its contract for sup-plies to be lifted during April 2010-March 2011.

ADNOC has three contracts, spanning from January to De-

Client list includes Taiwan’s Formosa, Japan’s Marubeni and Itochu, and Korea's Honam

ADNOC's Takreer is doubling its throughput capacity for refined products by 2013.

Dow Increases Emulsion pricesEmulsion Polymers, a business unit of Dow’s Styron division, is increasing the prices of all styrene butadiene latex products and sty-rene acrylic latex products sold into the paper industry in Europe, India, Middle East and Africa by US$306 per tonne (dry). The company will implement the new price from May 1.

Dow said that the continu-ing escalation in feedstock costs were the primary driver for this increase.

This hike in feedstock costs was in turn driven by the limited avail-ability of many raw materials, the company added.

cember, April to March and July to June. “ADNOC wants to dis-cuss volumes and market senti-ment. I think price negotiation will take place in May,” a trader told Reuters.

But others said that Abu Dha-bi’s ADNOC may be attempting to secure better buying notions before the market heads south from May, as increased ethylene supplies will hit naphtha crack-ing margins.

On top of this, traders expect ADNOC to have at least 2 mil-lion tonnes a year of new naph-tha supplies from July after re-peated delays.

ADNOC was supposed to have more condensates early this year to feed its splitters. This would increase its naphtha yield, but up till now, it has not been able to ramp up its naphtha produc-tion, according to a trader.

“A softer market ahead may be the only reason why they want to have a discussion this early, even if buyers are not likely to give any buying ideas,” another trader told Reuters. “Their term

negotiation is likely to drag like the last time.”

Term suppliers usually start negotiations a month, or at the most two months, before ship-ment takes place.

Sabic fixes MEG prices at $1050Saudi Arabia Basic Industries Corporation (Sabic) has fi xed Asian Contract Prices (APC) of mono ethylene glycol at US$US1 050 per tonne, for the third month in row.

Meanwhile, Shell lowered its May Asian Contract Price nominations by US$50/tonne to US$1 050/tonne CFR Asia, while MEGlobal rolled over May ACP from its April levels at $1 050 CFR Asia.

In the spot market, MEG is currently traded at around US$950/tonne.


13

Bahrain Profi le14


Unlike other GCC countries, Bahrain doesn’t have feedstock resources to help attract investment from petrochemical companies and

technology owners. Instead, it depends mainly on Saudi Arabia in securing its oil and gas requirements, and can barely get enough to crude to secure the need for existing industries. Instead, its business friendly attitude continues to make Bahrain a destination of choice for many services providers.

The petrochemicals and refi ning sector in Bahrain faces many obstacles that hamper any development, despite it being the fi rst GCC country to discover oil in 1936 and to build a refi nery in 1940. “Limited reserves and production of oil along with a limited and lean domestic natural gas supply are the main obstacles facing the industry,” says Osama Al Khaja, CPA, head of project development at Kuwait Finance House Bahrain. “The lack of clear industrial strategies and plans, as well as limited industrial space and infrastructure are also an issue,” he adds.

The bulk of the petrochemical industry in the Kingdom of Bahrain is made up by the Gulf Petrochemicals Industries Company (GPIC), a joint venture established in 1980. It is owned in equal parts by the Saudi Arabia Basic Industries Corporation (SABIC), the government of Bahrain, and

Bahrain has a shortage of its own feedstock, but as a gateway to Saudi Arabia’s downstream heartland it is a great hub with its own petrochemicals credentials

BUSINESS FRIENDLY

the Petrochemical Industries Company (PIC), a Kuwait fi rm. The company produces mainly fertilizers including urea, ammonia and methanol.

GPIC consumes 80m cubic feet of natural gas per day, sourced from a domestic fi eld. “We use Khuf gas from the Bahrain fi eld,” says Zuhair Taw fi qi, manager at GPIC. Beside the Bahrain fi eld, which is operated by Bahrain Petroleum Company (Bapco) and produces 32,000bpd of crude oil, Bahrain also draws crude from the Abu Saafa fi eld. This fi eld lies between Bahrain and Saudi Arabia, and is operated by Saudi Aramco.Bahrain’s share from the fi eld was 150 000bpd in 2009, representing 82% of the country’s oil production.

Bahrain also imports crude oil from Saudi Arabia through a pipeline linking the two GCC countries from Abqaiq in Saudi Arabia

GPIC is the only petrochemical company in the Kingdom.

GPIC has recently launched a carbon recovery plant.

Bahrain Profi le14

via Dhahran to the Bahrain refi nery in the Sitra region, located south east of the capital Manama. It currently imports some 230 000 barrels per day (bpd), and it aims to increase the capacity to 350 000bpd as Bahrain intends to increase the refi ning capacity of its refi nery in Sitra to handle the extra oil exported from Saudi Arabia.

The current refi ning capacity of the Bahrain refi nery is 267 000 bpd according to data of the National Oil and Gas Authority of Bahrain (NOGA), and it processes 85% of the oil imported from Saudi Arabia. 25 000 barrel of processed oil is consumed domestically while the rest in destined for export to international markets. “More than 90% of our products are destined to for exports,” says Mohamed Hassan Mezal, manager of the refi nery operations planning at Bapco.

15Bahrain Profi le


According to NOGA, Bahrain exported 223 000 bpd during 2009. Bapco completed a major seven-year upgrade of its refi nery in 2008, which was designed to increase the proportion of clean products and which saw the installation of various new conversion units, including a 100 000 bpd low sulfur diesel plant (LSDP) and a 60 000 bpd hydrocracker, as well as revamping the hydrocracker. The LSDP was completed in June 2007 and produces ultra low sulfur diesel oil with a sulfur content of less than 0.001%, a major reduction on the previous 0.65%.

Another company active in the downstream sector in Bahrain is National Chemical Industries Corporation (NACIC), which produces sodium sulfi te and sodium metabisulfi te, which are primarily used in the paper and pulp industry.

“We produce 18 000 tonne per year of sodium sulfi te and sodium metabisulfi te,” says Shetty Sudakar, marketing manager at NACIC. “We are planning to increase the production capacity to 35 000 tonne per year in the next year,” he adds.

Sudakar says that his company sources its feedstock from the Bapco refi nery, and targets Asian and the GCC markets.

GPIC will raise production once the needed gas is secured.

Petrochemical projects in Bahrain have been struggling to secure additional gas feedstock against rising demand for power.Seena Dashty, engineer at Haldor Topsoe.

Future PlansIn an attempt to boost the downstream sector, Bahrain launched the Lubricant Basic Oil Lubrication Holding Company Limited, a joint venture between Neste Oil, Bapco and Oil and Gas Holding.

The new venture is developing a plant in Sitra with a capacity of 400 000 tonnes per year of very high viscosity index (VHVI) base oil, which is expected to cost US$430 million. The plant is being built by Samsung Engineering under a US$314m EPC contract awarded in August 2008 and scheduled for completion in 2011.

In addition, the private Kuwait Finance House (KFH) has been promoting a project

to preduce low density polyethylene at Sitra. The plant, which would be provided with 1.5m t/y of naphtha from the Bahrain refi nery, would produce 409 000 t/y of low density polyethylene and 379 000 t/y of poly propylene. However, the project hasn’t progressed since its announcement in 2005.

Service HubDespite the fact that Bahrain doesn’t have natural resources, many service providers have chosen to set up regional headquarters in Bahrain, mainly to serve the Saudi Arabian market. “There is easy access to the Saudi market via the causeway, and it is easy to establish a foreign branch in Bahrain,” says Seena Dashty, technical sales and services engineer at Haldor Topsoe. Moreover, Bahrain is known a hub of many international fi nancial fi rms. “Along with an increasing large banking sector, especially for offshore banking, Bahrain has gained a good reputation in the fi elds of oil refi ning, petrochemical and aluminum industries,” he adds.

With petrochemical production set ot expand, Bahrain will be able to boost its exports of refi ned products, and also attract more service providers to the country.

Laffan Refi nery16


Faisal Al Suwaidi, chairman and CEO of Qatargas,reveals how Qatar is monetizing the large amount of condensates extracted along with natural gas from the giant North Field reserves

Qatar’s Laffan Refi nery is one of the world’s largest condensate refi neries and was formally inaugurated in early April, in Ras

Laffan Industrial City, 80km from Doha, Qatar, allowing the state of Qatar to consolidate its investments in the downstream sector.

Signifi cantly, the refi nery will process suffi cient quantities of condensate to enable Qatar to meet all of its gasoil, LPG and Kerojet needs domestically for the fi rst time, and move into export market as well.

“The initial concept of the Laffan Refi nery began eight years ago when discussions were held about implementing measures to help diversify Qatar’s energy sector,” Faisal Al Suwaidi, chairman and

CEO of Qatargas, told Refi ning and Petrochemicals Middle East. “It was realised that it would be benefi cial for the state of Qatar to capitalise on the synergies at Ras Laffan City created by the development of the North fi eld,” he adds.

Construction of the US$900m re fi nery project was completed in July 2009 by a GS Engineering / Daewoo (GSDW) consortium (on a 62:38 share basis) from South Korea who had been awarded a lump sum engineering, procurement, supply, construction and commissioning (EPSCC) contract in April 2005.

The refi nery will add value to the condensate produced by Qatargas and RasGas facilities. “Once the condensate arrives into the refi nery, it is heated into

LAFFAN REFINERY UNVEILED

16

furnace to over 300 degrees Celsius and then transferred to the distillation column where it is separated into products like LPG and Kerojet,” he explains.

The Laffan refi nery has a process capacity of 146 000 barrels per stream day (bpsd) and uses the fi eld condensates

wted

along with natural gas from the giant North Field reserves

atar’s Laffan Refinery is one of the CEO of Qatargas, told Refining and

Faisal Al Suwaidi, chairman and CEO of Qatargas,reveals howQatar is monetizing the large amount of condensates extract

l i h l f h i N h Fi ld

furnace to over 300 degrees Celsius and

116 Laffan Refi nery16

The tank farm has a storage capacity of 5.6 million barrels of condensate which is the equivalent of 356 Olympic sized swimming pools.

5.6m

17Laffan Refi nery


17

produced from the Qatargas and RasGas facilities. The production capacity of the refi nery will be 52 000 bpsd of kerojet, 24 000 bpsd of gasoil, 9 000 bpsd of LPG and 61 000 bpsd of naphtha. “The naphtha will be used as a feedstock for the aromatic complex,” reveals Al Suwaidi.

“THE NEW EXPANSION PROJECT WILL DOUBLE THE CAPACITY OF LAFFAN REFINERY TO 296 000 BARRELS PER DAY BY 2015” FAISAL AL SUWAIDI, CHAIRMAN AND CEO OF QATARGAS.

Laffan Refi nery consists of process units including utility systems, distillation units, naphtha and kerosene hydrotreaters, a hydrogen unit and a saturated gas plant producing naphtha, kerojet, gasoil and liquefi ed petroleum gas (LPG).

The refi nery has been planned as an environmentally-friendly facility and built in line with stringent environmental standards to refl ect this concept in every detail. “The refi nery is designed for zero fl aring during normal operations,” says Al Suwaidi. “In rare cases when there is excess fl aring, the refi nery has a recovery gas compressor which is designed to capture any excess gas and recycles it back into the refi nery rather than it being released into the environment,” he adds.

Taking the leadQatar’s next wave of condensate production this year will come from the two fi nal LNG mega trains - Qatargas 6 led by ConocoPhillips, and Qatargas 7, led by Shell

NOVEMBER 2006 FEBRUARY 2007 OCTOBER 2007 MARCH 2008

Qatargas operates the refi nery on behalf of the shareholders which include Qatar Petroleum, Total, ExxonMobil, Cosmo, Idemitsu, Mitsui and Marubeni. “Due to Qatargas’s strong reputation in executing projects safely and on time, we were assigned the project management and operation of the refi nery on behalf of the shareholders,” he adds.

Michael Corke, senior vice president at the Dubai based refi ning consultancy Purvin and Gertz says: “Laffan Refi nery certainly makes strategic sense for Qatar to process some of its condensate at source and the economics of a well-executed project of this type should be positive.

Qatar currently produces 476 000 b/d of condensate, which will rise to 787 000 b/d by 2014, becoming the world’s largest condensate seller, producing 15-18% of global condensate exports. Al Troner, president of the Huston based Asia Pacifi c Energy Consulting (Apec) says: “Unlike Saudi Arabia, which is also ramping up production (together they will add more than 600 000 b/d output by 2013), Qatar doesn’t have enough crude to spike condensates into, so export is its only option,” he says.

What characterises the Laffan re fi nery is the fact that it only processes condensates. “Processing condensate in a specialized facility will give better margins than processing it in oil refi nery,” says Corke.

produced from the Qatargas and RasGas

Project timeline

Company Stake in the project

QP 51%

Total 10%

ExxonMobil 10%

Cosmo 10%

Idemitsu 10%

Mitsui 4.5%

Marubeni 4.5%

Laffan Refi nery18


Energy minister Abdullah Al-Attiyah (left) and Faisal Al Suwaidi (right) at the inauguration press conference in Ras Laffan.Qatar is doubling the capacity of Laffan Refi nery by 2015.

- due on stream by the year end. Each will produce 42 000b/d of condensate. At the beginning of 2011 Shell will start producing 65 000 b/d condensates and 36 000 b/d LPG from the gas feedstock for its $19bn gas-to-liquids (GTL) plant, which is being commissioned.

To utilise the condensates coming from these projects, Qatar is building a second 146 000 b/d condensate splitter at Ras

Laffan for 2015 start up. “We expect to award the front end, engineering and design (FEED) contract for the expansion project in the coming few weeks,” Al-Suwaidi says. “The new expansion project will double the capacity of the refi nery to 296 000bpd by 2015,” he adds.

Energy minister Abdullah Al-Attiyah, says the second Ras Laffan splitter will allow Qatar to become a net exporter of diesel, instead of an importer.

Al Attiyah said Qatar will target Asia and Europe with the splitter products, “Markets across Southeast Asia and Europe in particular rely on these commercially valuable products for their petrochemical industry and to run their vehicles and jets,” Al Attiyah says.

Qatar’s large condensate output is often forgotten, but the light liquid is allowing the state of Qatar to remain rather immune to global gas price fl uctuations, while at the same time not being included in OPEC production quotas, giving it something of a central role in Qatar’s new energy mix, and in its 2030 vision.

MAY 2008 JANUARY 2009 APRIL 2009 NOVEMBER 2009

barrels of condensate or 23 million litres are processed per day, which is enough to continuously fl y 14 jumbo jets or keep 6000 trucks and 43 000 cars on road every day.

146 000Key Contractors

Contractor Job

Technip FEED Study

GS Engineering/ Daewoo EPC Contractor

Invensys Process Systems Automation systems

Kentz Construction of a receiving and loading facility

Project timeline

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M

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CM

MY

CY

CMY

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MEP10_Ad_265x200.pdf 1 28/3/10 2:03 PM

Technology Focus: Catalysts Market20


Catalysts are a crucial component in the processing of highly valued petrochemicals, gasoline, diesel and other refi ned products.

Processing feedstock in refi neries and pet-rochemicals plants means converting high-boiling, high-molecular weight hydrocarbon fractions of crude or condensate feedstocks to more valuable gasoline, olefi nic gases

After stringent regulation was introduced to regulate the production of refi ned and petrochemicals products, catalyst quality and cost has come to the fore

REACTION BOOSTERSand other petrochemicals and refi ned prod-ucts. This important conversion is generally achieved through a process of fl uid catalytic cracking, or hydrocracking, where catalysts are used to set off reactions in chemical mixtures.

With more stringent local speci fi cations and a real incentive to produce cleaner fuel and petrochemical products for the export market, the role of catalysts play in reaching strict international requirements and specifi cations is very important.

In a fast-changing marketplace, the right catalytic solution can help boost refi nery profi tability. “There are many different catalysts used in refi neries and petrochemical plants. Most of these catalysts are solid, but some are liquid,” says Yassir Ghiyati, sales manager for the Yassir Ghiyati, sales manager, Haldor Topsøe.

Global market for chemical processing catalysts by 2015. Source: GIA Report

$7.5b


21Technology Focus: Catalysts Market


hydroprocessing technology division at Haldor Topsøe.

In the refi ning and petrochemicals industry, catalysts are used in different processes. “We fi nd catalysts in the hydrotreating process, hydrogen production, isomerisation and reforming,” says Ghiyati. “It is also used in catalytic cracking, hydrocracking, sulphur or sulphuric acid production,” he adds.

Catalysts are also present in the dimethyl ether production (DME), methanol production and in many other processes.

Many different catalysts are also used in the petrochemical process. “Our catalyst portfolio can be broken down into four main categories including ethylene oxide catalysts, styrene catalysts, hydrogenation catalysts for steam cracker and associated units as well as environmental catalysts,” says Kelvin Halliwell, licensing manager at Shell.

Moreover, every petrochemical product has its specifi c catalyst. “We provide a family of polypropylene polymerization catalyst systems,” says Holliman Wrenn, product market manager at Dow Basic Plastics Licensing and Catalyst. “Our catalyst and donor technologies enable producers to manufacture more than 160 different products,” she says.

Each process uses a system comprising of different catalysts. “In a hydrocracking unit, Catalysts are a crucial component in the processing of highly valued petrochemicals, gasoline, diesel and other fuels.

Holliman Wrenn, product market manager, Dow Chemical.

“THE HYDROCRACKING CATALYSTS AIM TO CRACK LARGE HYDROCARBONS TO SMALLER MOLECULES IN DIESEL AND KEROSENE RANGE” YASSIR GHIYATI, HYDROPROCESSING TECHNOLOGY AT HALDOR TOPSØE

the catalyst system will typically comprise of grading catalysts, hydrotreating catalysts and hydrocracking catalysts,” says Ghiyati.

Grading catalysts are used to invoke a stepwise increase in activity and size, so as to minimise pressure drop problems, while the hydrotreating catalysts aims to remove sulphur and nitrogen from the feed. The material in this catalyst is typically Nickel on Molybdenum (NiMo) or Cobalt on Molybdenum (CoMo). “The hydrocracking catalysts aim to crack large hydrocarbons into smaller molecules in the diesel and kerosene range,” explains Ghiyati.

The choice of catalysts used during the process depends on different factors related to the type of the process itself. “Some of the main factors are: feed density, boiling range, aromatic content in addition to hydrogen availability and desired product specifi -cations,” says Ghiyati. Meanwhile, the catalyst charge is changed depending on the feed property and operation conditions,

usually two years to eight years. More than ever before, effi ciency is the operator’s primary concern. “A good way for a refi nery to reduce global catalyst expenses is to maximize the catalyst’s multiple uses, which is possible for a number of applications,” says Dr Saleh Abotten, general manager of Al Bilad Catayst. “The technique of ex situ regeneration gives the best chance to recover the maximum performance, with the lowest chance for pressure drop build up in the reactor beds as well as improper liquid distribution,” he explains.

Market forecastThe refining and petrochemicals industries are currently undergoing its most serious challenge in recent times, since cleaner fuels with lower sulfur content are gradually introduced in many markets. “Middle East countries still have less history than western countries when it comes to clean fuels, but the trend is there, with more


World market for petroleum refi ning catalysts by 2015. Source: GIA Report

$3.8bKelvin Halliwell, licensing manager at Shell.

“MIDDLE EAST COUNTRIES STILL HAVE LESS HISTORY THAN WESTERN COUNTRIES WHEN IT COMES TO CLEAN FUELS, BUT THE TREND IS THERE WITH MORE STRINGENT LOCAL SPECIFICATION AND A REAL INCENTIVE” DR FRANCOIS LOCATELLI, DEPUTY GENERAL MANAGER, AL BILAD CATALYST

stringent local specifi cation and a real incentive to produce cleaner fuel for the export market,” says Dr Francois Locatelli, deputy general manager, Al Bilad Catalyst. “This increases the demand for hydro-processing catalysts in the region,” he adds.

China and Middle East are expected to be the major centers of growth for the overall catalyst market, as stated in a recent reports published by Global Industry Analysts, a market research publisher. This growth in the worldwide catalysts market is driven by the ever-increasing demand from polymer manufacturers, and refi ning and petro-chemicals industries.

The global market for chemical processing catalysts is projected to reach US$7.5 billion by 2015, driven by the increased use of catalysts for commodity chemicals and rising prices for catalysts on the back of more expensive precious metals.

Most of catalysts are solid, but some are liquid, they are used in different downstream processes including hydrotreating process , hydrogen production, isomerisation and reforming.

“THE GLOBAL MARKET FOR CHEMICAL PROCESSING CATALYSTS IS PROJECTED TO

REACH US$7.5 BILLION BY 2015, DRIVEN BY THE INCREASED USE OF CATALYSTS

FOR COMMODITY CHEMICALS”


Meanwhile, world market for petroleum refining catalysts is poised to reach $3.8 billion by 2012. Global Industry Analysts believe that other primary growth drivers include the rapid rise in consumption of petroleum based derivatives and petrochemical products, the deteriorating quality of crude oil and refiners’ growing use of heavier and dirtier feedstocks. Growing demand for transportation fuels, and the ongoing transition from heavier petroleum components to smaller and lighter fractions also play a part.

In a buoyant downstream sector in the Middle East, catalyst providers need to be able to provide regional producers with the catalysts necessary to operate efficiently. And, even more importantly, they need to help producers face the challenge of meeting international standards.

Petrotech 201024


The seventh Petrotech conference is set to draw more than 3000 delegates and 100 companies from 20 countries to Bahrain’s capital

Over 3 000 downstream professionals are set to converge on Bahrain between the 23rd and the 26th of May for the seventh

Middle East International Refining and Petrochemicals Conference and Exhibition (Middle East Petrotech 2010).

Set against a backdrop of ongoing refinery expansion projects in the region, the event has attracted highly respected members of the industry and companies from around the world, all active in increasing capacity as global demand for energy continues to rise.

“The 5,200 square metre exhibition of products and services at the Bahrain International Exhibition and Convention Centre showcases over 100 companies from 20 countries,” says Natasha Coelho, from Arabian Exhibition Management, the conference organisers.

Major exhibitors include the Bahrain Petroleum Company (Bapco), the Kuwait National Petroleum Company (KNPC), the Rabigh Refining and Petrochemical Company (Petro Rabigh), the Saudi Arabian Oil Company (Saudi Aramco) and Qatar Petroleum (QP), all of which are taking flagship stands in the four days event.

International petrochemical and refining companies as well as service industry majors also maintain a strong presence at Petrotech 2010 with ABB, Air Liquide, Dow, ExxonMobil and Yokogawa

“MORE THAN 100 PAPERS WILL BE DELIVERED DURING THE COURSE OF THE CONFERENCE BY LEADING PROFESSIONALS UNDER THIS YEAR’S DIFFERENT THEME”NATASHA COELHO, ARABIAN EXHIBITION MANAGEMENT.

occupying significant exhibition space. Smaller specialist companies and a dedicated UK pavilion complete the line up.

More than a hundred paper’s by leading professionals will deal with the conference’s theme: Downstream Challenges: Financing, Market Changes and Technology.

The packed schedule also includes a series of sessions, in which top level speakers will focus on the challenges, as well as the extensive opportunities, the Middle East faces in managing the world’s most important energy reserves.

“The conference will open with a keynote speech by Petrotech 2010

chairman Ali Hassan Al-Sidiky, director of downstream ventures, Qatar Petroleum,” revealed Coelho.

Dr. Abdulhussain bin Ali Mirza, Bahrain’s Minister of Oil and Gas Affairs and chairman of the National Oil and Gas Authority (NOGA), will also address the delegates.

Abdullah bin Hamad Al-Attiyah, Qatar’s deputy prime minister and minister of Energy and Industry, will also deliver a speech during the inauguration session.

Other high level guest speakers featuring during the course of the conference at the Bahrain International Exhibition Centre include CEO’s and

PETROTECH 2010

The number of downstream professionals who are expected to converge Bahrain to attened the event.

3000

The 5 200 square metre exhibition of products and services will showcase the cream of the downstream industry.

25Petrotech 2010


“WE HAVE DECIDED TO COME OUT WITH A REINFORCED PRESENCE BY PARTICIPATING IN THE EXHIBITION AS WELL AS THE CONFERENCE, AS WE HAVE AN IMPORTANT MESSAGE TO CONVEY TO OUR CLIENTS” NILE AL RUSHAID, HYPERION SYSTEMS.

www.arabianoilandgas.com

Over 100 companies from 20 countries will be exihibiting.

DOW CHEMICALMargaret Walker, vice president for engineering solutions, technology centers and manufacturing & engineering.

Is this your first Petrotech conference and exhibition? This will be the second time Dow participates in PETROTECH, and Dow believes this to be a strategic opportunity to engage with high-level decision-makers and network with key stakeholders in the petrochemicals industry.

Why is your company participating in Petrotech 2010?Among our many participation objectives, Dow will promote cutting-edge technologies and market solutions that connect chemistry and innovation with the principles of sustainability to help address some of the most challenging problems our customers face in the oil and gas, water, construction and coatings industry, among others. In addition to having a stand at the PETROTECH Exhibition area, we will be represented at the Conference session; as I will deliver a keynote speech. Also, Dow will deliver two technical presentations by leaders within Dow’s manufacturing and engineering function.

senior executives of major regional petrochemicals producers, international financial firms and the major service providers.

Middle East Petrotech 2010 is organised by Bahrain-based Arabian Exhibition Management and London-based Overseas Exhibition Services, both members of Allworld Exhibitions. The event is held every two years, and in 2008 attracted 2,705 senior downstream oil industry professionals from 156 companies.

important message to convey by showcasing an array of products and services, all helping our customers drive down their costs and dramatically increase their operational effi ciency. Last but not least, our participation is a way to celebrate completing our fi rst year of successful operation of our Saudi Arabia subsidiary, who is leading our participation.

What do you hope to get out of Petrotech 2010?Our company is consistently executing our strategy of becoming a leading force in providing process engineering solutions in the Kingdom of Saudi Arabia and the Gulf region in general. Our participation in the exhibition does not focus on a specifi c solution, rather we intend to showcase a number of solutions with material and live demos, including our Operator Training Simulators, our Production Scheduling and Multi-Blend Optimisation solutions for refi ning and petrochemicals, Advanced Process Control, as well as our Laboratory Information Management Solutions. We would be happy to see you at Stand 011.

HYPERION SYSTEMS ENGINEERINGNile Al Rushaid, Manager, Saudi Arabia

Is this your fi rst Petrotech conference and exhibition? Yes, this is the fi rst time we are participating in the Petrotech Exhibition with our own stand, although in the past our company has often participated in the Petrotech conference presenting, mostly in conjunction with one of our customers, papers based on successfully completed projects that also had an innovative angle (such as this year’s paper that we are presenting jointly with Saudi Aramco on web-based operator training simulation).

Why is your company participating in Petrotech 2010?Hyperion Systems Engineering Ltd, is one of the leading (and the only truly independent) provider of systems engineering solutions and services to the oil & gas and petrochemical industries.

This year, we have decided to come out with a reinforced presence by participating in the exhibition as well as the conference, as we feel we have an

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27Market Analysis


2009 saw the award of $95bn worth of energy and energy related projects in the GCC. This fi gure was c.53% higher than the level awarded in

2008, despite the economic downturn and was largely driven by the region’s strategic energy production targets to ensure a solid position for the future upturns in demand, relaxation in the contracting market and increased gas demand from the regions power and petrochemical sectors.

At the beginning of 2010, it was clear that the region had high spending hopes, with c.$230bn worth of projects planned for award in the year. Each taking nearly 25% share of this were the power and refi ning sectors with Oil and Gas Production spending following suit with c.17%. However, as has been the trend for the past few years, there is always a considerable difference between the planned and actual spending. This is due to a number of reasons; projects are not considered to be essential in terms of a country’s strategic master plan, there is a heavy dependency on international project fi nancing, lack of feedstock availability or due to the depressed demand and prices for certain products resulting in, the attractiveness of certain projects from a ROI perspective being less attractive.

On a quarterly basis, Contax Partners conducts an analysis all of the energy and energy related projects in the region to tier them in terms of their likelihood of progressing, thus allowing for the generation of a more realistic view of the project award landscape. With the Tier 1 category representing a greater than 70% likelihood of proceeding in the current market, Tier 2 between 40 and 70% and Tier 3 less than 40%, the majority of planned 2010 projects at

Contax’s Capex Corner

Kathleen Bury is Director of Market Analysis. Nora Ismagilova, Business Analyst, Contax Partners

Second year of higher than average spending plans…are you ready for the next peak?

the beginning of the year fell into the Tier 1 category, 40%. Following closely was Tier 2 with 32%, thus giving a total of 72% of projects with a greater than 40% of proceeding within the year. Interestingly, on a quarterly basis, the forecast total spending levels across the tiers between Q1 and Q3 was relatively steady, between c.$46bn and c.$54bn. However, in Q4, the expected spending levels increased to c.$88bn, representing c.38% of the total yearly

Source: Contax Partners, MEED-Projects March 2010

Q1 2010 Q2 2010 Q3 2010 Q4 2010

1009080706050403020100

Planned Capex Jan ‘10 Planned Capex Mar‘10

GCC Energy Capex 2010US $ Billion

Saudi Arabia’s PetroRabigh integrated refi nery and petrochemical project was completed in 2009.

Market Analysis28


20% of the projects planned for award in Q1 have actually been awarded. The majority of these awards took place within the petrochemical and power sectors, c.30% and c.19% respectively, although the forecast at the beginning of the year was that the majority of spending would be found within the power, water and waste and oil and gas

production sectors. Coupled with the c.$185bn worth of projects still on the table and planned for award this year, the total planned expenditure for 2010 has decreased by c.16% from the levels forecast three months ago.

Nevertheless, looking forward to the remainder of the year, c.55% of the planned projects due for award is in Saudi Arabia, followed by the UAE which accounts for c.22%. From a sector perspective, the power sector continues to dominate the region’s spending plans with c.33%, followed by oil and gas production and petrochemicals, c.17% and c.15% respectively. Looking again to develop a more realistic picture, Tier 1 projects account for over c.40% of the planned Capex expenditure, c.$75bn. With this in mind, it is expected that the fi nal level of spending at the end of the year will be in line with or just below that of 2009 and once again considerably higher than that in 2007 and 2008.

Given this, under a realistic scenario where only Tier 1 and 2 projects go ahead, future projects will sustain the GCC energy workload at high levels. Looking briefl y beyond 2010, should all of these Tier 1 and 2 projects go ahead as scheduled, the GCC is expected to witness another energy workload peak throughout 2011, which would be even higher than the stretched conditions of the construction boom during 2007 and 2008. If this occurs, it would result in similarly severe challenges in project planning and execution. The question is: have we learnt from the past to ensure that we are properly prepared for this next cycle and have we developed robust mitigation strategies to ensure that we minimize the associated risks?

amount, although it was expected that some of this planned spending would spill over into 2011. For the Tier 1 projects, specifi cally however, the scenario was slightly different, with over 60% of projects being awarded in the fi rst half of the year.

Given these forecasts, it is interesting to note that as we near the end of Q1, fewer than

To further discuss how the Business Advisory Team can help you understand the changing market dynamics, the full set of opportunities open to you and the best strategy/approach to ensure the opportunities are successfully secured, please contact Ann-Marie Carbery Antoun at [email protected]. We look forward to speaking with you!

Total GCC EPC Workload 2007 - 2012US $ Billion

Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012Residual workload Future Tier 1 Future Tier 2 Future Tier 3

Source: Contax Partners, March 2010

40

35

30

25

20

15

10

5

0

The UAE’s Borouge will inaugurate its polyethylene expansion project in June this year.

Number Cruncher30


Price on Mar,19th (US$ per share)

Price on Apr,19th (US$ per share)

Change %

Saudi Basic Industries Corporation (SABIC) 25.80 27.07 4.68

Saudi Arabian Fertilizer Company (SAFCO) 38.33 37.20 -3.05

Saudi Kayan Petrochemical Company (Kayan) 5.05 5.84 13.47

Rabigh Refi ning and Petrochemical Company (Petrorabigh) 9.33 9.76 4.37

Yanbu National Petrochemical Company (YANSAB) 9.47 9.47 0.00

National Industialization Company (TASNEE) 7.71 9.33 17.43

Saudi Industrial Investment Group (SIIG) 5.81 6.56 11.38

Saudi International Petrochemical Company (SIPCHEM) 6.33 12.56 49.58

Sahara Petrochemical Company (SAHARA) 5.89 6.80 13.33

Advanced Petrochemicals Company (Advanced) 6.03 6.48 7.00

Nama Chemicals Group (NAMA) 2.79 2.83 1.42

Alujain Corporation (ALUJAIN) 4.59 4.95 7.28

Methanol Chemicals Company (CHEMANOL) 4.23 4.39 3.65

Petrochem 4.08 5.17 21.13



Change %

Qurain Petrochemical Industries Company (AL-QURAIN) 0.70 0.75 6.54

Boubyan Petrochemical Company (BOUBYAN) 1.96 1.82 -7.69

Ikarus Petroleum Industries (IKARUS) 0.51 0.55 7.59



Change %

Industries Qatar 30.74 31.21 1.50



Change %

Oman Chlorine S.A.O.G. (CHLORINE) 1.02 0.93 -8.73



Change %

Abu qir Fertilizers 40.00 40.40 0.99

Sidi Kerir Petrochemicals Company 2.44 2.49 1.85

Downstream Data

Number Cruncher30

Most listed petrochemical companies saw share prices improve through April. Regional listed companies led the charge, with TASNEE posting the largest gains.

LISTED COMPANIES IN THE SAUDI STOCK MARKET

LISTED COMPANIES IN THE KUWAITI STOCK MARKET

LISTED COMPANIES IN THE QATARI STOCK MARKET

LISTED COMPANIES IN THE OMANI STOCK MARKET

LISTED COMPANIES IN THE EGYPTIAN STOCK MARKET

31Number Cruncher


31

Source: www.argaam.com

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(HDPE Injection)

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Benzene prices reached US$1005 per tonne, as crude values hovered around $83 bpd, as well as improvement of demand from key downstream segments.

Ethylene prices jumped to US$1210 per tonne, reaching its highest level in 8 weeks, underpinned by tight supply and improved demand from key Asian markets.

MEG prices have stabilised for the second week in row around $940 per tonne, following improvement of crude prices during the last two weeks and also to tight supplies.

Propylene prices edged to its highest level in 2010, reaching $1350 per tonne due to the high demand and amid uncertainty over the outlook for the market.

Polyethylene prices rose to $1250 per tonne on the back of strengthening sentiment due to high crude and ethylene feedstock values.

Polypropylene prices rose to $1250 per tonne in the two last week of April, supported by snug supply and strengthen-ing demand from key markets.

PVC prices stablised at around $1030 per tonne due to decline of demand from key markets and sectors.

RUYA BAYEGANMEMBER OF BOARD, BAYEGAN GROUP

We are a family company, established in 1940, and I am part of the third generation running the business. The Bayegan Group initially focussed on the Turkish market, and then started serving Asia, the Middle East, Europe, the CIS and Africa. We are very well established in Turkey, where we make 60% of our turnover. But we are aiming to generate 70% of our turnover outside Turkey in future. We have three business units: the oil and derivatives business, the petrochemicals business and the fertilizer business. The petro-chemicals unit operates three different departments: solvents, polymers and intermediates. We have a market share of 10% in polymer distribution in Turkey, but are looking to increase this to 20%. One of our strengths is our logistics infrastructure, as we are used to dealing with a diverse range of products.

We source our products from different parts of the world, from the US, Europe, the Middle East and Asia, and sell them in the markets where we can get the best profit margins.

For each product we deal with, we have built a solid partnership with producers, as we have been dealing with the same sources for a long time and on a regular basis. This is very important as it allows us to be regular and reliable source to our customers, and enables us to establish a

from low production costs which allow them to compete easily with other producing countries.

Surviving the downturn is the main challenge, as some customers want to postpone their payments because they couldn’t secure the necessary funds on time. Another big challenge is doing business in Iran, due to the embargo. Iran is a big import and export market for us, so we have to be ready to cope with any changes to the US sanctions regime.

The credit crunch has had a huge impact on us, as the market volatility it caused made it difficult to make forward price estimations. Before the credit crunch, we could predict prices based on seasonal patterns. But now, it is difficult to predict the direction of the market.

I graduated from Boston university with a management degree. I have been with the company for 12 years. After graduation, I joined my father’s company where I was in the textile business and then moved to the petrochemicals distribution business, where I am in charge of the international markets.

long term relation with them. We have exclusive partnerships with ExxonMobil Chemical, Du Pont, Evonik, Lukoil.

Our primary sales focus is the Turkishmarket, Asian represents 27% of our sales, followed by the Middle East which accounts for 23% of sales. The African and European markets account for another 19% of our sales each.

Ruya Bayegan, board member of Bayegan Group, discusses the petrochemicals distribution business.

GLOBALDISTRIBUTION BUSINESS

“TURKEY IS SECOND BIGGEST BUYER OF PETROCHEMICALPRODUCTS IN THE WORLD, WE ARE PURELY IMPORTER”

We distribute for Saudi Arabian and Iranian producers in Turkey. These companies also distribute in Turkey themselves, yet we have maintained excellent relationships with them. Despite the competition, I think that all parties are happy with this model. Turkey is the second biggest buyer of petrochemical products in the world, as we don’t have production facilities like in India or China, with the exception of the Petkim refinery. So Turkey is purely an importer. Iran and Saudi Arabia benefit

Face to Face32


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