Skip to main content

Energy Gas Oil

Search This Blog

O&G to get competitive

on August 11, 2014

Get link
Facebook
X
Pinterest
Email
Other Apps

August 11:

The global oil and gas industry is being driven by greed for control over resources, according to a newly released report.

Source: www.upstreamonline.com/subscribe/order/

Get link
Facebook
X
Pinterest
Email
Other Apps

Comments

Post a Comment

Popular Posts

Shale Gas Flows in Morocco

June 30: In a further expansion of Morocco’s domestic energy efforts, Ireland’s Circle Oil announced late last week that gas had begun flowing from its first shale well. According to a UPI report , the company announced that it had reached a stabilized flow rate of 1.9 million cubic feet per day at a well in the Lalla Mimouna onshore permit area. “We are delighted that our first well on the Lalla Mimouna block has such positive results, flowing gas at significant rates,” Circle Chief Executive Officer Mitch Flegg said, according to UPI. “The productivity of this first well is very encouraging for the expansion of Circle’s portfolio of Morocco gas fields.” The shale development continues Morocco’s multi-year push towards broadening their energy base. The North African country currently depends on costly imports for virtually all of its oil and gas needs. Over the last five years, Morocco has initiated a series of new energy development projects, including both tradit...

First Gen readies plans for $1-B LNG import terminal

May 13: MANILA - The Philippines' First Gen Corp. said construction of its $1 billion LNG terminal should begin by next year to ensure unhampered operation of its power plants when the country's Malampaya natural gas fields run dry in the next decade. The company intends to keep a 50 percent stake in the project and give partners the other half, including a foreign investor, First Gen President Francis Giles Puno told reporters after a stockholders' meeting on Wednesday. "The foreign partner will bring in the expertise in operating and maintaining the facility," he said, although a final investment decision has yet to be made. First Gen's regasification terminal is one of at least four such projects that would open the Southeast Asian country's doors to natural gas imports. Australian-listed Energy World Corp. Ltd is looking to switch on its Quezon LNG import hub and power plant this year, while Manila Electric Co. (Meralco) recently said it was...

LNG FOR EUROPE: A MULTI-FACETED ROLE

May 24: The role of LNG for Europe is “multi faceted,” according to Andrew Walker, Vice President Global LNG, BG Group. LNG in Europe, he said, is a diversification of supply, “A means of getting gas into the European network whose connectivity is not so good, and if we look at the new markets that have emerged last year, Europe is in the mix, adding new construction of locations.” The key is supply diversification, away from Russian gas. He mentioned the completed and forthcoming projects, in Lithuania and Poland, respectively. “There's the balancing element and also the option to access global supplies when it needs them,” he offered, although he conceded that the liquidity of the global market towards those purposes is questionable. For most of the LNG industry's history, he said, it has grown exponentially, at around 8-9% per annum. That is, until things grew difficult in 2010-11, when it began to plateau. It was then, he said, that Asia became the predominant d...

Tidal power hailed by low-carbon expert

May 08: TIDAL Energy has the potential to become a huge power resource for Scotland, but patience is required to allow the technology needed for its exploitation to become reliable. Andrew Lever, director of innovation at the Carbon Trust Scotland, expects significant progress to be made in exploiting tidal energy in Scotland over the next 10 years, citing the MeyGen project in Caithness as a world leading move into the sector. Mr Lever, who also noted that two licences had recently been granted for offshore farms in Scotland, said the country's rich tidal resources mean it is well placed to take advantage of energy source. He warned it is a "technology that requires some patience and development", but declared that "if it can be tapped and be achieved, it offers a great export opportunity and a great addition to the energy mix." Mr Lever was speaking after addressing the All-Energy conference at the Scottish Exhibition and Conference Centre ...

Rebound in oil markets could prove lasting

May 07: Predicting oil prices is a risky endeavour. Photo: Bloomberg As Brent crude oil reached more than $68 per barrel Wednesday, a high for 2015, analysts started to backtrack on earlier predictions of $40-$50 oil. The rebound, however, may not last: Speculators appear to have disrupted Saudi Arabia’s strategic game against US shale oil producers. Predicting oil prices is a risky endeavour. They are determined by a multitude of political, economic, psychological and climate-related factors that cannot be modeled with accuracy. So analysts would suggest that Brent is rising because of unexpectedly fast demand growth in China; another bout of trouble in Libya, where a key oil port has shut down; a decrease in US inventories; the continuing fighting in Yemen; and any number of other events. It’s just as likely, however, that oil’s rise is driven by hedge funds holding a net long position of 550,000 futures and options contracts, or 550,000 barrels of imaginary oil. Arguably,...

Does Turkey Prefer A European Or Eurasian Energy Union?

May 01: The sixth meeting of the World Forum on Energy Regulation is scheduled to be held on May 25–28, in Istanbul, and is being organized by the office of the prime minister of the Turkish Republic. The competitive and dynamically expanding nature of the energy sector in Eurasia has been boosting Turkey’s regional importance as it prepares to take on the role of a strategically important transit and energy hub country (Hurriyet Daily News, January 28). December 2014 saw the reemergence of competition between rival pipeline projects in Eurasia—similar to the earlier competition between the Nabucco natural gas pipeline, proposed by a consortium of European companies, and Russia’s South Stream. Currently, Russia’s new proposed pipeline project—Turkish Stream—is challenging the Azerbaijani-initiated Southern Gas Corridor, which will carry Caspian-basin gas to Europe via the South Caucasus, Turkey and then across Southeastern Europe. Turkey is already signed on to the Southern Gas C...

Powered by Blogger