Fuel prices go up again

MANILA, Philippines -- Escalating prices of gasoline and liquefied petroleum gas in the world market prompted local oil firms to raise gasoline prices by 50 centavos a liter and cooking gas prices by 56 centavos a kilogram over the weekend.

First to raise prices was Pilipinas Shell Petroleum Corp. at 12:01 a.m. Saturday, followed by Petron Corp. and Chevron Philippines Inc. at 6 a.m.

Flying V was to hike prices at 12:01 a.m. Sunday, with Eastern Petroleum Corp. following suit at noon.

Seaoil Philippines Inc. will increase gasoline prices by the same level at 6 a.m. Monday.

Data from the Department of Energy show that the regional benchmark Dubai crude soared to an average of $64.61 a barrel in the May 1-30 period from the April average of $63.97 a barrel.

The price of unleaded gasoline based on the Mean of Platts Singapore (MOPS) benchmark for refined petroleum products surged to an average of $88.77 a barrel in the first 30 days of May from $83.64 a barrel in April.

The all-time high price of $92.53 a barrel for MOPS-based unleaded gasoline was recorded last May 18.

MOPS-based diesel inched up to an average price of $83.42 a barrel as of May 30, from the April average of $82.11 a barrel.

International gasoline prices have been soaring these past few weeks, ahead of the summer driving season in the United States, which started at the end of May.

Uncertainties surrounding Russia's tussle with oil giant BP are also seen further boosting gasoline prices, particularly amid strong demand for fuel right now.

This fuel price hike was the eighth for gasoline for a total of P4.50 a liter.

Since the start of the year, pump prices of gasoline have also been reduced by a total of P1.80 a liter.

LPG prices have so far gone up four times this year for a total of P2.80 a kilo, but have also gone down four times for a total of P2.24 a kilo.

This latest price hike brings premium unleaded gasoline prices to between P38.23 and P41.27 a liter and LPG prices to between P474.28 and P546.16 per 11-kilogram cylinder.

Source : business.inquirer.net

Qatar Petroleum Selects VectorCommand's Emergency Command System for Advanced Fire Training

Qatar Petroleum, one of the world's largest liquefied natural gas and oil exporters, has selected a package of advanced fire safety training software and services from leading UK technology company VectorCommand. The products were chosen to support the company's ambitious expansion plans for developing its gas and oil reserves and LNG tanker fleet, with associated requirements for training for crisis responders.

The two products selected - Emergency Command System /Tactical Command Trainer and Emergency Command System /Training and Exercising System - are widely used by fire safety managers throughout the world to provide tactical command training and operational command training for crisis responders.

Qatar Petroleum will initially use the two virtual reality-based training packages to prepare commanders for dealing with large tank farm fires and training for dealing with fire on LNG tanker ships. As part of the Qatar Petroleum contract, senior system developers and customer support staff from VectorCommand will travel to Qatar where they will work closely with local Qatar Petroleum personnel on product and scenario customisation as well as staff training and familiarisation.

One of the many benefits of adopting a virtual reality-based approach within an integrated fire command training system is that command at both the tactical and operational levels can be combined within exercises with a high degree of realism.

Emergency Command System products enable all exercise activities to be recorded for post-exercise analysis and comment. Consistency of training doctrine is promoted by adopting a computer-based approach which incorporates local operational procedures and local and international best practice. Emergency Command System scenarios already incorporate advanced technology for simulating typical activities specific to oil and gas fires, such as drenching systems and foam blankets.

Emergency Command System is a world-leading family of proven command, control, training, exercising and assessment technology products and services which incorporate advanced communications, display and virtual reality technologies.

Clients include the London Fire and Emergency Planning Authority, UK fire and rescue services, the European Commission, Emergency Management Australia and Australian and New Zealand fire services, the Swedish Rescue Services Agency and the UK Police National CBRN (Chemical, Biological, Radiological, Nuclear) Centre.

Sourc : www.emergencycommandsystem.com

Repsol to sell up to 45 percent in Argentinian unit: report

Antonio Brufau, seen here in May 2007, Chairman of the Spanish petroleum giant Repsol YPF, speaks during a press conference. Repsol YPF, Spain's biggest oil firm, plans to sell up to 45 percent of its Argentinian unit, a deal that could earn it more than four billion euros (5.4 billion dollars).

Repsol YPF, Spain's biggest oil firm, plans to sell up to 45 percent of its Argentinian unit, a deal that could earn it more than four billion euros (5.4 billion dollars).

.

Spanish daily Expansion said on Saturday Repsol intends to sell to a "large Argentinian investor" a stake of between 15 and 25 percent of Yacimientos Petroliferos Fiscales (YPF), which Repsol bought in 1999 for 15 billion dollars, the paper said.

.

The group is in talks with three groups about the sale: Jorge Brito, Enrique Eunekian et Enrique Eskenazi. The latter is favourite and all three "have good relations with Argentinian President Nestor Kirchner," the paper cited unnamed sources as saying.

.

Repsol will then begin preparations for selling a further 20 percent stake via a stock market listing at the end of 2007 or the start of 2008, Expansion added.

.

The desire to find a partner in Argentina is part of chairman Antonio Brufau's desire to improve relations in the south American country, the paper said.

Source : www.todayonline.com

AGR Reorganizes Petroleum Services Unit

Richard Erskine, Executive Vice President of AGR Petroleum Services, has unveiled a new organizational structure for the business, along with key appointments.

The changes reflect ambitious growth plans for Petroleum Services together with improved integration of existing businesses and the establishment of centers of excellence.

In future Petroleum Services will be organized in three business streams: Well Construction, Manpower Consulting and a new entity called PET (EX)2 embracing Reservoir

Evaluation Services (RES) and field management. PET (EX)2 , will be expanded to include production engineering, concept development, and engineering design, providing oil companies with a one-stop shop from exploration through to exploitation.

"We have ambitious plans based on growing our existing businesses and pursuing new opportunities. We need to retain, motivate and recruit top notch personnel, and continue to offer them a stimulating environment with increasing opportunities for international experience. I think it is also vital to foster a culture based on openness, trust and transparency," said Erskine.

"While we are very serious about our standards, our work ethic and ambitions I am also keen to see that we have fun as well! These are exciting times."

Who does what….

In the new organization, which will be a matrix structure, there will be four Well Construction centers: Asia Pacific (headed by Phil Duff), Norway (Geir Finsrud), Americas (Francis Brown) and the UK (Ian Burdis). Ian Burdis will also be responsible for Well Construction's center of excellence. PET (EX)2 will be headed by Atle Andresen and Christina MacDonald will head up the worldwide Manpower Consulting business. Erik Lorange will be responsible for the G & G consultancy's center of excellence within PET (EX)2.

AGR will continue to focus on performance improvement tools, processes and management consulting within the well construction sector. In future these activities will also report to Ian Burdis.

Hugh Mackay will continue as Director, Business Development, and Tove Magnussen will be responsible for HSEQ. Petroleum Services will also be assisted in a number of support functions including Business Unit Control, under Torstein Floden, Human Resources, under Stig Tuastad, Legal (Ole Oulie), and Information Technology (Tom Roger Grovassbakk).

There will be a sustained focus on Field Development, with Atle continuing to pull on the skills in the PET (EX)2 group, backed up by support in Asia Pacific, (Greg Hogan) and Kazakstan.

Business development will be a crucial function in Petroleum Services. This is recognized in the new business development network being established, by Hugh Mackay. In future, he will be assisted by business development managers in six key areas of operation: UK and Africa (Michail Tsouvelekis); Asia Pacific (Bruce Roebuck); Middle East (Tom Conlon); Americas (Mike Williams); PET (EX)2 (Knut Sovold); and Norway (manager still to be appointed).

Source : www.rigzone.com

Beach Petroleum says finds oil at Bodolla field

Australia's Beach Petroleum Ltd. , a mid-sized oil and gas exploration and production company, said on Friday it has found oil at its Bodalla South field in southeast Australia. Beach said in a statement that an appraisal drilling programme at its fully-owned Bodalla South field in the Cooper Basin showed oil flows of 4,617 barrels of oil per day (bpd) in the Bodalla South 17 well.

The Bodalla South 16 well had a flow of 230 bpd.

The two new appraisal wells have added an estimated incremental oil reserve of 250,000 barrels to the field and commercial production from the wells would be underway in a month.

Adelaide-based Beach said the oil shows at Bodalla have also opened the northern portion of the field to further drilling.

Beach Petroleum's Managing Director, Reg Nelson, said the success at Bodalla has given the company "a very high level of confidence of further extractive upside for some years in both Bodalla and the nearby Kenmore fields".

Shares in Beach, which has a market value of around A$1.26 billion ($1.04 billion), were up 2.15 percent at A$1.425 by 0348 GMT.

Beach, which had oil and gas reserves of 101 million barrels of oil equivalent as at July 1, 2006, produced 1.35 million barrels of oil in 2006. ($1=A$1.21)

Source : asia.news.yahoo.com