Buyer Community> Trade Intelligence> Energy> FACTBOX-Global oil, gas projects delayed in 2009
Source: Reuters

FACTBOX-Global oil, gas projects delayed in 2009

Published: 01 Jul 2009 01:50:17 PST

July 1 - Following is a list of oil and gas projects and oil refinery expansion plans that have been delayed or cancelled so far in 2009.

The global financial crisis, falling oil demand, a slide in prices and poor general market conditions have prompted many in the industry to scale back spending and delay projects.

* Jun 30 - The Singapore government will take over development of its first $1 billion liquefied natural gas (LNG) terminal from a consortium to avoid more delays, and will defer its completion by a year to 2013. [ID:nLU779428]

* May 22 - Jurong Aromatics Corp (JAC) said it has delayed the start-up of its $2.4 billion aromatics project in Singapore until early 2013 from 2011, as it struggles to obtain funding in the current credit crunch. [ID:nSP477329]

* May 14 - Singapore industrial landlord JTC Corp scrapped the operational tender for the city-state's underground rock cavern oil storage and re-issue it three years later. [ID:nSP124882]

* May 12 - SP Chemicals, which makes chemicals in China, has scrapped a $1.5 billion naphtha cracker project in Vietnam due to poor economic conditions and as it aims to lean on growing Chinese petrochemical feedstock supply. [ID:nSP444323]

* April 13 - Saudi Aramco defers plans to expand capacity at its Ras Tanura refinery. [ID:nLD657309]

* March 24 - Qatar delays plans to build the 250,000 bpd Shaheen refinery by one year. [ID:nLO329588]

* March 21 - Qatar and ExxonMobil <XOM.N> delay development of the $5 billion Barzan gas field joint venture, primarily to cut costs. [ID:nLL517983]

* March 20 - Kuwait said it scrapped a tender to build a $15 billion refinery project, the second multibillion-dollar major deal to be cancelled in three months after facing opposition in parliament. [ID:nN20516815]

* March 17 - Royal Dutch Shell Plc <RDSa.L> said start-up of the Perdido platform in the Gulf of Mexico had been pushed back to the beginning of next year from this November.

The Forcados Yokri and Bonga North West projects in Nigeria which were due to come onstream sometime during 2010 or 2011 will now come onstream in 2012 or later. Bonga North West is being re-tendered.

The Motiva Port Arthur refinery expansion is now expected to be completed in 2012 or later, rather than 2010 as earlier planned.

The Pearl GTL plant in Qatar could also be delayed. Shell said it was expected onstream "at the very end of 2010 or early 2011" rather than late 2010 as earlier targeted.

* Feb 3 - Marathon said it would delay the completion of a 15,000 barrel per day expansion at its Detroit refinery to mid-2012 in an effort to cut spending. The project had been scheduled for completion in late 2010. [ID:nN03505778]

* Jan 28 - ConocoPhillips said it would defer refinery upgrade projects at two of its plants to reduce capital spending, but did not identify which projects.

* Jan 27 - Leading U.S. refiner Valero Energy Corp <VLO.N> said it was cutting capital spending in 2009 by $800 million by delaying construction of a diesel hydrotreater and aromatics unit at its Norco refinery in Louisiana and the upgrade of an FCC at its Memphis refinery in Tennessee. [ID:nN27455546]

* Jan 22 - Peru's state-owned energy company Petroperu S.A. has placed under review a $1 billion plan to modernize its Talara refinery because of low crude oil prices, Peru's mining and energy minister said.

* Jan 20 - Suncor Energy Inc <SU.TO>, Canada's No. 2 oil sands producer, halts construction of its C$20.6 billion oil sands expansion called Voyageur, including the planned upgrader and new stages of its steam-assisted production operation known as Firebag.

* Jan 19 - The $2.2 billion Al Dur power and water project in Bahrain is delayed. The Al Dur project is 50 percent owned by the Gulf Investment Corp, with France's GDF Suez <GSZ.PA> owning the other 50 percent.

* Jan 17 - Canada's Enbridge Inc <ENF_u.TO> shelves plans for a C$346 million ($277 million) pipeline reversal that would have shipped 170,000 barrels per day of oil sands crude from Sarnia, Ontario, to a tanker port in the state of Maine, supplying refineries in Montreal en route and replacing the imported oil the line now carries.

* Jan 13- Russian oil pipeline monopoly Transneft [TRPRO.UL] said contractor problems caused by the global financial crisis pose a threat to its launch of a major oil route to China this year.

* Jan 9 - Suncor delays a C$120 million expansion of its St. Clair ethanol plant at Sarnia, Ontario, scheduling completion for 2011 instead of late 2009.

* Jan 8 - Ecuador plans to delay some gas and oil projects while it seeks loans and investment to boost its key sector.

* Jan 8 - South Korea's Honam Petrochemical said its $2.6 billion joint venture with Qatar Petroleum will be delayed by a year to early 2013 due to slump in oil demand. [ID:nSEO95236]

* Jan 5 - North Sea gas pipeline operator Gassco says the 10 billion crown Skanled gas pipeline project to Scandinavia could be delayed from its planned 2012 launch, partly due to worries over investment plans by British chemicals group Ineos, a key client.

Share this post:
Related Article
Most Popular