Doing business with Saudi Aramco. Thanks to BOTAK on LSE.[link]
Re: Response from QFI Thanks for posting this Captain. It sounds as if we are getting pretty close now.
Response from QFI Good morning Shipmates, I sought advice on the current state of play in KSA from IR, this was their response yesterdayear (many of you know me anyway) "Thank you for your enquiry. We will be providing an update to shareholders when the initial agreements for the significant, but complex KSA project are signed. Kind regardsQFI Investor Realtions"I think we all accept that the project is complex, especially given the size of the refinery. However, it's oviously the word 'significant' that give me a warm glow, and that's without Nurse sitting on my lap. TH2
Re: Did we win the raffle ?- TOT We seem to be moving ahead well on the marine side. Basically on schedule as per advised at the AGM last year.However, there is definately delay concerning the works at KSA. Although this is probably to be expected due to the political activities and the possible part sale of Saudi Aramco.At the AGM we were advised that approval was expected soon on the 2016 test program and that the engineering design had started. We do not seem to have moved ahead in this area.If FEED is still to start, we could be a long way away on this part unfortunately. It means that KSA have not signed off, on any significant expenditure on this program. Engineering studies don't cost a lot of money to these types of companies.Until they reach a point where they sign off on AFE ( approval for expenditure ) this is only one of many studies they may action.I hope it goes ahead, but until they sign off or start spending significant monies, this part of our program is still a concern.regardssm0uvy
Re: Did we win the raffle ?- TOT Hi Incitatus,Sorry for the late response, it's been a busy day....You state "Site preparation and installation anticipated to start year-end for 2016/2017 trial"How can it be a "2016/2017 Trial" if site preparation and installation isn't going to START until the year end.?? On this timetable it sounds more like a mid/late 2017 trial to me."Well, when QFI talk about year ends they are usually referring to their financial years. The current financial year ends on 30th June, so plenty of time to start the trial before the end of 2016 provided the necessary paperwork is signed. You might wish to drop the company a line to obtain confirmation though. They are exceptionally good at reponding to investor queries.ATB,T
Shareholder Investor Forum I understand that there is such a forum - can someone let me know where I find it as I can not see it on their website?It would be great if they could put up a more recent research note other than Edison's 2012 on one page and elsewhere there is a 2013 - but nothing of recent months!
Re: Oil Price nearing $50 Two good points TH2POO not a defining factor for the value add case which is MSAR, but the lower oil price has had a terrible effect on investment within the oil industry, this will have inevitably slowed our progress, we know from RNS's that it has had that effect.As the POO increases though, so the confidence should return and BIG oil should start to push us along a bit in the oil major department.It should also help Maersk to sharpen their procurement pencils and encourage CEPSA to get a move on!All the best
Oil Price nearing $50 Although, as we explained ad nauseam when the oil price was dropping, the price of crude is not the determiner of the case for MSAR it is nice to see it back at more sensible levels.I've strained to find the mass media devoting masses of air time to the turn around, and have waited in vain for one of the 'experts' who predicted that sub $20 oil was a real possibility to explain how they got it so wrong. Their bosses at Goldman must be furious!GLATH2
Re: Did we win the raffle ?- TOT Although we are used to slippage as part of any pre-commercial company, especially one dealing with countries in the KSA area. I think recent changes in the 'management' of KSA have every chance of speeding the project along.Jason wrote "National imperative to reduce domestic crude oil demand", this is not jut a throw away line, but government policy.With Khalid al-Falih back in the driving seat, and the Deputy Crown Price directing policy, things are looking better than ever for our KSA JV IMO.TH2
Re: Did we win the raffle ?- TOT Hi Incitatus,Might not be as long as mid/late 2017 for the trails IMO.Site tie in's are complete, which is a key milestone for the production refinery.FEED and permitting expected to commence mid year.Site preps and install to start year end.So they should be in a position to carry out pre-commissioning and commissioning in Q1 2017, so with a favourable wind trials could start as early as Q2 2017.I've no visibility of boots on the ground, so it will be interesting to see how the timelines play out.That's the beauty of investing in AIM, Picking the right entry time before the fun starts.I'm fully loaded here, so I'm happy to play the long game.CheersFB
Re: Did we win the raffle ?- TOT "Site preparation and installation anticipated to start year-end for 2016/2017 trial"How can it be a "2016/2017 Trial" if site preparation and installation isn't going to START until the year end.?? On this timetable it sounds more like a mid/late 2017 trial to me.Any thoughts from the cognoscenti on this one?Incitatus
Re: Did we win the raffle ? From half year report Sept 16th 2015Marine - Contracts signed for the Operational Trial Programme Agreements have been executed between Maersk, CEPSA, and the Company's 100% subsidiary, Quadrise International Limited ("QIL", together the "Parties", for inter alia, the supply, installation and commissioning of an MSAR Manufacturing Unit ("MMU" at the CEPSA San Roque refinery near Gibraltar ("San Roque" and the production of Quadrise Marine MSAR fuel to be used in the planned seaborne operational trial (the "Operational Trial Programme" due to commence in Q1 2016. Engine performance data from the associated extended continuous Operational Trial Programme is required to provide a basis for the issue of a LONO by the engine manufacturer. The programme will also provide an opportunity for evaluation of possible further refinements to on-board fuel handling systems and procedures. The "Tripartite Agreement" provides for:- The supply, installation and commissioning of an MMU at the CEPSA San Roque refinery near Gibraltar adjoining the Algeciras bunker fuel supply hub;- The production of Quadrise Marine MSAR fuel, and the terms of supply to any Maersk vessel participating in the Operational Trial Programme;- Contractual terms for the supply of process chemicals, technical advice and support services by Quadrise to CEPSA for the period of the Operational Trial Programme; and- The rights and obligations of all Parties on completion of the Operational Trial Programme. The Parties have also entered into an agreement for the envisaged production and future supply of Marine MSAR fuel beyond the Operational Trial Programme (the "Collaboration Agreement". CEPSA and Quadrise have further entered into a bilateral agreement which clarifies the basis on which costs and benefits of MSAR production will be shared during the Operational Trial programme (the "Margin Sharing Agreement".More details in the actual half year report
Re: Did we win the raffle ? Thanks for posting the presentation, very interesting. I note that on page 18 it states:Tripartite agreement to proceed Q4 2015, site permitting initiatedWhat is the status of the Tripartite agreement? I take it that its inclusion in this presentation means that it has been delayed. I can't seem to find any mention of it in the recent half yearly reportI am a long time shareholder
Re: Did we win the raffle ? Thanks Ianto,That really is a must read for all shareholders and anybody thinking of investing here. Not only does it provide costs of production for MSAR it confirms that Saudi is still very much on track and gives more details on the LONO stage timetable. Some nice annotated pictures too!Saudi"400MWe Demonstration Trial (Refinery Power MSAR® - Major Utility): West coast candidates established: Major integrated 400KB/D refinery Largest oil-fired power generation facility in KSA Scope of demonstration: Refinery production of MSAR®, coastal supply to modern 400MWe baseload unit 2-3 month commercial trial, plus potential follow-on opportunities Project timetable: Preliminary client approvals and refinery tie-ins completed Trial agreements in negotiation FEED and permitting expected to commence mid year Site preparation and installation anticipated to start year-end for 2016/2017 trialMarineOperational Trial (Mærsk & Cepsa): Cepsa (Compañía Española de Petróleos, S.A.U.), an integrated energy company 100% owned by IPIC (the Abu Dhabi sovereign wealth fund) One 6,000 BPD MSAR® system is being installed at the 240,000 BPD GibraltarSan Roque Refinery (RGSR, Cepsas largest oil refinery) Fast-track Timetable: Triparty agreement to proceed Q4 2015, site permitting initiated FEED and Detailed Engineering completed Q1 2016, civils started Mechanical and E&I works completed end Q2 2016 LONO volumes commencing summer 2016 for ~4,000 hours of testing Commercial MSAR® volumes post-LONO early 2017, subject to resultsWell done Jason.T
Re: Did we win the raffle ? Dear Mr James Many thanks for your email and your shareholding in the company. The BBTC presentation is now live on the website, under [link] Regarding the Operational Trial all that we can say is we will be updating the market as a whole with announcements once appropriate milestones are met. QFI Investor Relations