9/20/2023 0 Comments Deep water producersThe Hamburg-based company manages and markets 1.8 million tonnes of UAN annually from its own production facility in Trinidad and Tobago. Joint ventureĪ recent joint venture with global chemical and fertiliser producer HELM AG adds a further layer of security to Brineflow’s supply network. This enables vessels to perform a quick and efficient operation, minimising the time spent in port, which is attractive to ship owners. It uses large diameter low-friction, energy-efficient pipes through which ships can discharge over 1000t of product per hour directly to the quayside storage tanks. The terminal is designed to the latest EU Eurocodes standards. “We can now receive tankers up that can carry over 30,000t of product.” “The Sunderland terminal has given us the ability to ship large trans-Atlantic vessels,” says Ian. Together with Brineflow’s other terminal in Great Yarmouth, the expansion takes the company’s total portside storage capacity to 65,000t and increases annual production to 250,000t. This has tripled the capacity of the site, boosting quayside storage to 35,000t and annual production to 125,000t. “We will be able to supply these products on demand to growers across at least 90% of the UK’s key arable areas, even when markets are in turmoil.” Deep-water terminalīrineflow has just finished phase two of Nitrasol Terminal North, its purpose-built deep-water liquid fertiliser import facility in Sunderland. “We can now access new deep-ocean primary suppliers in the Americas and beyond, away from Putin’s gas and European competition, and we can hold huge stocks of UAN, the base material for our Nitrasol liquid fertiliser products. “Added to that, a large percentage of imports has traditionally been shipped from countries that were feeding directly and indirectly off Russian gas, chiefly Russia itself, several Baltic states and nearby Western Europe. “We have seen domestic production reduce significantly over the past 18 months. “The UK is very restricted in terms of nitrates production due to the high cost of natural gas,” says Mr Ferris. West Texas Intermediate dropping to around $48 a barrel, while Brent crude oil dipped to around just above $50 a barrel in the last week.This will reduce exposure to the turmoil that has engulfed the fertiliser market since Russia’s invasion of Ukraine, giving farmers confidence in a challenging market. While oil prices rose as much as 20 percent solidly above $50 a barrel when the deal was struck in November of last year to curb output, they have come off this year with U.S. "Deep-water remains a big boys' game, it's not for everyone," said Rodger. "The majors are showing signs they are looking at this resource class again," he said, citing examples of BP's M&A transactions in Egypt and Senegal, and Statoil and Total's deals in Brazil.īecause of the long project timeline and large investment capital involved, the market can expect large companies to dominate deep-water exploration as medium-size players have all but gotten out of the space to put their money into lower cost shale instead, Rodger said. ![]() With three big deep-water projects approved so far this year, Rodger says he expects a total of eight projects overall in 2017 - the same as combined total for 20. ![]() ![]() "Over time, we see much more of a leveling of the playing field than we've seen in the last few years ," Rodger said. shale oil producers to an average $35 per barrel, Reuters reported. Shale oil is competitive in the current price environment around $50 a barrel as OPEC and non-OPEC producers work to curb output by almost 1.8 million barrels per day (bpd) in the first half of this year.Ī report from consultancy Rystad Energy issued in February pegged the break-even price for U.S. Projects in the Gulf of Mexico are leading the way, with breakeven likely moving below $50 per barrel of oil equivalent, down from above $70, potentially giving shale oil a run for its money. Producers are reducing the cost of their deep-water projects by making them smaller and producing fewer barrels while trying to remain profitable, he told CNBC's " Squawk Box". "It's not so much innovation, it's more a change in mind-set," said Wood Mackenzie's upstream oil and gas research director, Angus Rodger. ![]() The U.S. shale boom shaking the oil industry is changing the way deep-water oil exploration projects are carried out as producers move to scale down these mega-operations, a researcher said Thursday.
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