FACTBOX-Global oil, gas projects delayed in 2009

Thu Jul 16, 2009 11:19am EDT
 
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July 16 (Reuters) - Following is a list of some of the 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.

* June 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]

* June 15 - U.S. oil major Chevron (CVX.N) said it expected its natural gas project in Vietnam to be delayed until late 2014 due to prolonged negotiations over gas prices with oil monopoly Petrovietnam. Chevron said last year it wanted to start gas production in 2012 from the project off the southwest coast of Vietnam. [ID:nHAN360121]

* June 1 - Indonesian Energy Minister Purnomo Yusgiantoro told Reuters production from the Cepu block -- Indonesia's biggest oil find in a decade which is being jointly developed by Exxon Mobil (XOM.N) -- was facing delays over a local land dispute. [ID:nSP393631]

* May 22 - Jurong Aromatics Corp (JAC) said it had delayed the start-up of its $2.4 billion aromatics project in Singapore until early 2013 from 2011, as it struggled 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 said it would re-issue it in three years' time. [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 24 - Paris-based Perenco, a privately-held oil and natural gas company, said it would delay its $2 billion investment to develop an oil field in Peru's northern jungle because of low prices. The company said it expected to start production from lot by 2013, two years later than previously announced.

* 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 in 2010 or 2011 will now come onstream in 2012 or later. Bonga North West is being re-tendered.  Continued...

 

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