OilGas Events

Top 15 Oil and Gas Job interview Q&A

noreply@blogger.com (Anand) — Thu, 21 Jul 2022 01:30:00 +0000

15 Oil And Gas Interview Questions and Answers, Question1: What are the different categories of Oil found worldwide? Question2: Explain what is OPEC? Question3: What is the purpose of forming OPEC? Question4: Who are the members of OPEC currently? Question5: On what basis Crude Oil prices are determined? Are you not satisfied with the current job? Looking for better prospects in the future? Then check into our site Wisdom jobs where you can find number of job opportunities to reach your destination. If you want to enter into oil and gas industry it is a good option for the fresher’s, as oil and gas has become an important source of energy to the world. The main aim is to process the extraction, exploration, refining, transporting oil by oil tankers and marketing of petroleum products. There is a wide scope in this field to work as a production engineer, petroleum engineer, oil and gas engineer, reservoir engineer, drilling engineer, supervisors etc. Oil and gas engineers are involved in the process of extracting oil and natural gas from reservoirs. To avail the job wisdom jobs has come up with oil and gas job interview questions and answers for you to get the job easy in reputed companies.

Whats next for Oil?

noreply@blogger.com (Anand) — Wed, 06 Jul 2022 23:00:00 +0000

Top 12 Interview Q&A for Oil & Gas companies.[VIDEO]

noreply@blogger.com (Anand) — Wed, 29 Jun 2022 01:30:00 +0000

If you want to enter into oil and gas industry it is a good option for the engineer, as oil and gas has become a significant foundation of energy to the world. The core aim is to process the extraction, exploration, refining, transporting oil by oil tankers and marketing of petroleum goods.

There is a wide possibility in this field to work as a production engineer, petroleum engineer, oil and gas engineer, reservoir engineer, drilling engineer, supervisors etc. Oil and gas engineers are intricate in the method of extracting oil and natural gas from reservoirs.

To avail these jobs we have come up with oil and gas job interview questions and answers for you to get the job easy in reputed companies like chevron, Exxon Mobil, shell, Worley, Gazprom, BP, TOTAL, PETRO CHINA, Canadian natural, Conoco Phillips, Irving oil Etc.

Mechanical Interview Q&A for Oil and Gas Industry.[VIDEO]

noreply@blogger.com (Anand) — Sat, 19 Mar 2022 03:30:00 +0000

Succeeding in the downstream Oil and Gas market amid Covid 19

noreply@blogger.com (Anand) — Thu, 24 Feb 2022 20:30:00 +0000

Entering 2020 the outlook for North America’s downstream oil and gas industry was one of strong margins, a buoyant economy, and robust demand. The only cloud on the horizon was the potential impact of the energy transition. Companies were building for a future of plenty.

For a decade, downstream companies in North America invested in capitalizing on booming North American shale, retooled their refining and transport capacities, and entered adjacent industries. The sector managed to outperform similar industries in total value creation over ten years and even as far back as the early 1990s. But there was also a downside. The North American downstream companies developed large, inflexible technical and engineering functions; loosened their control over administrative costs; and failed to seize new opportunities for margin improvement through digitizing refineries.

The global COVID-19 pandemic caught the oil and gas industry unprepared for a completely changed landscape. Planes were grounded and cars parked. Countries outside the Organization of Petroleum Exporting Countries (OPEC) that export crude oil (known as OPEC-plus countries) initially turned up the spigots, and oil prices collapsed. Demand for transportation fuels fell by up to half,1 and storage tanks filled. That forced refineries to cut their rates or even stop production. Oil and gas companies experienced the sharpest shock they had ever seen, and it may also turn out to be their most enduring one.

Long after countries tentatively emerge from quarantine, constantly on the lookout for another surge in COVID-19 cases, the oil and gas industry will face the twin specters: sudden travel interruptions (and longer-term demand decline caused by an economic downturn) and a rise in telecommuting (and the accelerating shift to greener energy sources). We expect the global growth in hydrocarbon demand to peak in the 2030s. As it does, it will expose excess refining capacity and put downward pressure on profits. Adding to the demand-side challenges are vacillation over regulatory policy, the possibility of a breakdown in OPEC’s uneasy production discipline, and the chance that refiners will prolong the glut in petroleum-product inventories by increasing output as soon as their margins improve.

To adjust, oil and gas companies will have to transform radically. Those that succeed will shape the industry’s future; those that fail will become consolidation targets. Even among companies ultimately acquired, there is an important benefit to getting as far down the path of transformation as possible. The further they progress, the higher their valuations will be.

Many have already begun to react. As in past downturns, they are cutting headcount, reviewing operating expenses, and curtailing capital expenditures. Such incremental changes are a start. To emerge from these challenging times with the capability of delivering another decade of long-term growth, companies will have to go much further. They will need strong market perspectives and a clear strategic vision informed by five fundamental changes that define the current downturn (Exhibit 2).

Click here to download this 8 page pdf market report by Mckinsey authored by By Gopal Chakrabarti, Tim Fitzgibbon, and Micah Smith.

How Oil and Gas companies can decarbonize?

noreply@blogger.com (Anand) — Thu, 17 Feb 2022 21:30:00 +0000

If the world is to come anywhere near to meeting its climate-change goals, the oil and gas (O&G) industry will have to play a big part. The industry’s operations account for 9 percent of all human-made greenhouse-gas (GHG) emissions. In addition, it produces the fuels that create another 33 percent of global emissions. Several trends are focusing the minds of industry executives. One is that investors are pushing companies to disclose consistent, comparable, and reliable data. Activist shareholders, for example, are challenging US- and Europe-based oil majors on their climate policies and emissions-reduction plans.1 Investors are also increasingly conscious of environmental issues. In the five markets examined by the Global Sustainable Investment Alliance—Australia and New Zealand, Canada, Europe, Japan, and the United States—sustainable investments reached assets of $30.7 trillion in early 2018, one-third of total investment. At September’s UN climate summit, an alliance of the world’s largest pension funds and insurers (representing $2.4 trillion in assets) committed itself to transitioning its portfolios to net-zero emissions by 2050.2

At the same time, renewable technologies have been getting cheaper. In the United States, the cost of solar—both photovoltaics (PV) and utility scale—has fallen more than 70 percent since 2011, and the cost of wind by almost two-thirds. By 2025, they could be competitive with natural gas–based power generation in many more regions. Other forces are also coming into play. Although there is still no global market, carbon taxes or trading systems cover 20 percent of worldwide emissions, compared with 15 percent in 2017, according to the World Bank.3 Many European governments plan to implement binding GHG emissions targets and are drawing up national energy and climate plans.

To play its part in mitigating climate change to the degree required, the oil and gas sector must reduce its emissions by at least 3.4 gigatons of carbon-dioxide equivalent (GtCO2e) a year by 2050, compared with “business as usual” (currently planned policies or technologies)—a 90 percent reduction in current emissions. Reaching this target would clearly be easier if the use of oil and gas declined. But even if demand doesn’t fall much, the sector can abate the majority of its emissions, at an average cost of less than $50 per ton of carbon-dioxide equivalent (tCO2e), by prioritizing the most cost-effective interventions. Process changes and minor adjustments that help companies reduce their energy consumption will promote the least expensive abatement options.

The specific initiatives a company chooses to reduce its emissions will depend on factors such as its geography, asset mix (offshore versus onshore, gas versus oil, upstream versus downstream), and local policies and practices (regulations, carbon pricing, the availability of renewables, and the central grid’s reliability and proximity). Already, many companies have adopted techniques that can substantially decarbonize operations—for example, improved maintenance routines to reduce intermittent flaring and vapor-recovery units to reduce methane leaks (Exhibit 3). Cutting emissions is not necessarily expensive. An onshore operator found that about 40 percent of the initiatives it identified had a positive net present value (NPV) at current prices. Click here to download this 7 page pdf market report by Mckinsey authored by Chantal Beck, Sahar Rashidbeigi, Occo Roelofsen, and Eveline Speelman

Oil & Gas companies seeking vendor registrations in the tier 2 category.

noreply@blogger.com (Anand) — Tue, 08 Feb 2022 22:30:00 +0000

Oil and Gas companies around the world are grappling with the appropriate response to the Coronavirus (Covid-19) for their employees, customers and their business, as well as the fallout from the Saudi/Russia price war. This unique situation of an overstocked oil market and a massive fall in demand has created a once-in-a-generation test of resilience planning and organisation flexibility. For many organisations the current crisis is an opportunity to not just survive but thrive.

Rapid decision making

Oil and Gas leaders should think through the medium term implications of decisions as they finalize a course of action – this is where an organization’s data strategies will separate the winners and the losers. Having the ability to quickly access and analyse data that allows you to assess things like credit exposure and payables is a tremendous tool for rapid decision making. The ability to distinguish between what is keep the lights on (KTLO) spend, important programs and discretionary spend is key to navigating this difficult time, many organisations are still reeling from the “freeze all spends” stance in the 2014-2015 crash.

Identifying and optimising value streams

For organisations that are on the path to being more agile and have value streams defined, the Covid-19 situation is a great litmus test – they should be able to look at value streams which are still yielding (or are expected to) yield high value and focus on those while curtailing the other ones. For B2B firms, these may or may not end up being customer facing ones, a good example is that a refiner may look for value streams that are optimization oriented vs. customer oriented. In nutshell this is a golden opportunity for small medium equipment and service providers that could never make it to the vendor approval and meet qualification requirements. EPC as well as end user downstream manufacturing plants will once again open vendor registrations in a big way in an effort to source at lower costs. Click here to download validated datalists of Purchase & Contracts at global EPC, Oil and Gas companies.

Business models for long term resilience

During black swan events like the current Coronavirus situation, and the Russia/Saudi price war, it is absolutely critical for oil and gas companies to have a better understanding of their B2B and B2C customers and a more flexible business model to build long term resilience.

On the B2C side, again, having an exemplary customer data strategy can give you an alternative business model, by truly understanding your customer’s behaviour, preferences and intent you have a ‘plan b’ strategy of relevant products from your own organisation or partner organisations (for example EV charging stations) that can offer an alternative revenue stream, when oil demand has decreased.

In a B2B context it is equally important to know which customers to focus on first, and again having access to this data is key, in such situations, keeping close to customers who have long term contracts, are worried about supply chain disruption or are looking for supplier flexibility in light of dwindling demand (say an airline which has a long term contract with an oil major).

How Offshore Oil rigs work? [VIDEO]

noreply@blogger.com (Anand) — Sat, 04 Dec 2021 19:30:00 +0000

How utilities can adapt to the next normal?

noreply@blogger.com (Anand) — Fri, 26 Nov 2021 01:30:00 +0000

At the beginning of the COVID-19 outbreak, utilities had to resolve to meet the immediate issues posed by operating during a pandemic and then build resilience to meet immediate operational demands. The priority was to ensure the safety of their people while guaranteeing the security of supplies and addressing risks. Crisis teams had to stabilize supply chains and operations, which were disrupted by physical distancing and on-site restrictions. They also had to cope with the financial impact of the crisis. Lower industrial power demand and rising consumer defaults had hurt cash flows and balance sheets. Hence, it was crucial to stress-test financials and engage customers.

As lockdowns have started easing in many countries, the focus is shifting toward a safe return: how to bring more workers back to their jobs and to ramp up operations as demand begins to rise. At the same time, utilities need to think longer term by recognizing the operational shifts experienced in the sector as they reimagine and reform their operating environments. The priority will be to understand which of the temporary disruptions they have experienced are likely to persist. Finally, the COVID-19 crisis will have longer-term implications for the industry, and companies should take stock of the regulatory- and competitive-environment shifts to balance their future business footprints.

In this article, we describe five themes that are reshaping the utility sector and offer practical suggestions on how leaders can adapt their organizations to meet the needs of the next normal.

Click here to download this 7 page pdf market report by Mckinsey authored by Adrian Booth, Tom Carlowitz, Elizaveta Malashenko, and Jesús Rodriguez Gonzalez

Oil and Gas after Covid 19,The day of reckoning or a new age of opportunity?

noreply@blogger.com (Valve Solutions) — Wed, 17 Nov 2021 23:30:00 +0000

The oil and gas industry is experiencing its third price collapse in 12 years. After the first two shocks, the industry rebounded, and business as usual continued. This time is different. The current context combines a supply shock with an unprecedented demand drop and a global humanitarian crisis. Additionally, the sector’s financial and structural health is worse than in previous crises. The advent of shale, excessive supply, and generous financial markets that overlooked the limited capital discipline have all contributed to poor returns. Today, with prices touching 30-year lows, and accelerating societal pressure, executives sense that change is inevitable. The COVID-19 crisis accelerates what was already shaping up to be one of the industry’s most transformative moments.

While the depth and duration of this crisis are uncertain, our research suggests that without fundamental change, it will be difficult to return to the attractive industry performance that has historically prevailed. On its current course and speed, the industry could now be entering an era defined by intense competition, technology-led rapid supply response, flat to declining demand, investor scepticism, and increasing public and government pressure regarding impact on climate and the environment. However, under most scenarios, oil and gas will remain a multi-trillion-dollar market for decades. Given its role in supplying affordable energy, it is too important to fail. The question of how to create value in the next normal is therefore fundamental.

To change the current paradigm, the industry will need to dig deep and tap its proud history of bold structural moves, innovation, and safe and profitable operations in the toughest conditions. The winners will be those that use this crisis to boldly reposition their portfolios and transform their operating models. Companies that don’t will restructure or inevitably atrophy.

Click Here to download this 11page McKinsey market report by Filipe Barbosa, Giorgio Bresciani, Pat Graham, Scott Nyquist, and Kassia Yanosek

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Shale Gas Market Size to be Around 17,201.6 Bcf By 2022.

noreply@blogger.com (Anand) — Thu, 30 Sep 2021 00:00:00 +0000

Market Research Engine is involved in providing research reports and company profiles in the global shale gas market in terms of revenue and output/volume. Market drivers, opportunities and restraints are thoroughly studied which influences the market. This study is further utilized for the overall analysis of the market.

Global Industry Analysis of Shale Gas Market Size, Share, Growth and Forecast 2015-2021. Shale Gas Industry is expected to Reach 17,201.6 Bcf Globally by 2021, growing at a CAGR of 7.9% from 2015 to 2021.

Discovery of new shale gas basins in China, Australia, etc. have created great opportunity for this market's growth. In addition, it is expected to increase the ethylene production in the next few years. Shale gas is extracted through techniques like horizontal drilling and hydraulic fracturing. It involves applications such as power generations, transportation and various other applications.

Shale gas is a type of natural gas explored from shale rocks or deposits underneath earth through various techniques. Globally, it has become an increasingly important source of natural gas.

Shale Gas Market is segmented on the Basis of Applications Type, Techniques Type and Geography. Shale Gas by Applications Type this market is segmented on the basis of Power Generation, Industrial and Manufacturing Applications, Residential Applications, Commercial Applications and Transportation.

Shale Gas by Techniques Type this market is segmented on the basis of Horizontal Drilling and Hydraulic Fracturing. Shale Gas by Geography Type this market is segmented on the basis of North America, Europe, MEA, Asia Pacific and Latin America.

Google and Amazon are now in the Oil business.

noreply@blogger.com (Anand) — Sun, 05 Sep 2021 20:00:00 +0000

Offshore Wind Energy Market To Exceed $60 Billion By 2024.

noreply@blogger.com (Anand) — Thu, 26 Aug 2021 20:30:00 +0000

In recent years, the offshore wind energy market has been ablaze and all indications are that it will only continue to grow.

According to report by Global Market Insights Inc., the offshore energy market—windfarms constructed on bodies of water—will surpass $60 billion by 2024. The reason for the expected growth is the worldwide quest for more sustainable and cleaner energy sources.

Currently, the largest offshore wind energy farms are in Northern Europe and Germany, but the market is gaining steam with the U.S. and China also investing heavily in the offshore wind energy market, according to Global Market Insights

“In the current scenario, wind energy is considered among the mature energy sources, since its first deployment in Denmark,” said Ankit Gupta, who is the research manager for energy and power with Global Market Insights. “The Global Wind Energy Council in 2016 claimed that the unconventional energy system will be led by wind. Subject to the fact, offshore wind industry has been gaining momentum, as to contribute majorly in achieving renewable energy targets across the globe.”

At the end of 2017, the total worldwide offshore wind energy market had a capacity of 18,814 megawatts (MW). The largest sources are in the U.K. and Germany where two-thirds of the worldwide offshore wind energy farms have been installed.

But the U.K. and Germany are now facing some strong competition.

After the first offshore wind farm in North America was completed, the continent has been identified as one of the more lucrative markets. The Block Island Wind Farm offshore Rhode Island is projected to produce enough electricity to power over 17,000 homes.

How Big Tech Has Helped Big Oil? [VIDEO]

noreply@blogger.com (Anand) — Mon, 16 Aug 2021 22:30:00 +0000

Non Fossil energy consumed in the US highest at 20% in 2020.

noreply@blogger.com (Anand) — Wed, 28 Jul 2021 23:30:00 +0000

In 2020, overall energy consumption in the United States hit 100 quadrillion British thermal units (Btu), nearly matching the all-time record set in 2018, according to the U.S. Energy Information Administration’s newest Monthly Energy Review. Yet it’s not just energy consumption that has been trending upwards — as non-fossil generation sources accounted for 20% of all energy consumed, the highest mark in history.

Nuclear energy contributed a record 8.5 quadrillion Btu to the overall energy consumption mix, with wind being the renewable energy source with the most consumption at 2.7 quadrillion Btu. After wind, hydroelectric contributed around 2.5 quadrillion Btu, biofuels came in at around 2.25 quadrillion Btu, solar recorded just over 1 quadrillion Btu and geothermal was about 0.25 quadrillion Btu.

In total, U.S. renewable energy consumption reached 11.5 quadrillion Btu in 2020, though this figure does include wood burning as a renewable energy source. 2020 marked the first time in 130 years that renewable energy consumption outpaced coal. This accomplishment has been driven by the large strides in generation capacity made by solar and wind in the last decade.

And while overall energy consumption has been steadily around 100 quadrillion Btu, the good news is that coal consumption fell by 15% in 2020. What’s more is that since the peak fossil fuel consumption mark of 86 quadrillion Btu in 2007, that figure has been falling steadily. In 2020, fossil fuel consumption was 80 quadrillion Btu, which may not seem like the biggest reduction over a 13-year period, but it works out to about half a percent a year.

The oil and gas automation market to grow at CAGR of over 6.47% by 2024.

noreply@blogger.com (Anand) — Wed, 23 Jun 2021 07:40:00 +0000

The oil and gas automation market is expected to register a CAGR of over 6.47% during the forecast period, 2019 – 2024. In the oil and gas industry processes, there is always a high demand for safety and reliability. The supply chain of this industry creates a great need for automation, industry expertise, and an extensive partner network. Process automation helps oil and gas producers to integrate information, as well as control, power, and provide safety solutions, in order to respond to the dynamic global demand.

From the past, it is observed that even though the oil prices are fluctuating, the demand for oil and gas remained stable. Price of oil per barrel has gone to a peak level of more than USD 140, and also, a trough low to USD 20, but the average energy consumption is steadily increasing, globally. As of 2017, it was estimated that the world consumed over 98 million barrels of oil every day, indicating a growth of almost 2% when compared to 2016. Such a rate of consumption was primarily spiked by the reduced crude oil prices and increasing demand from automobiles.

In addition to that, since the low prices of crude hit the market in early 2014, the major consumption groups in the Asian and European countries have predominantly benefited from these changes. In fact, according to the British Petroleum’s estimates, the regions witnessed a towering increase in the refinery capacities and throughputs. The refining capacity and throughput of the Asia-Pacific region spiked by 1.3% and 8.6%, respectively, between 2013 and 2016. It is estimated that the region was able to refine over 27,000 million barrels of oil every day, in 2016, owing to cheaper crude oil. The low crude oil price situation occurred toward the end of 2014, due to the oversupply situation of crude oil, globally. The new-found shale resources in North America and high production in the Middle East forced down the prices in the global market.

To rebalance the situation, the Organization of the Petroleum Exporting Countries (OPEC) has taken the initiative of minimizing crude oil production, until the prices are back to normal. This has affected the demand for automation in the industry severely.Although the oil prices have come back to their usual prices, the cutbacks in the name of reserve development and OPEC’s decision are expected to create supply constraints. Cutting back oil production, in order to balance the oversupply situation, might be a meaningful choice. But, the extended cuts, until the end of 2018, are raising the fear that this situation may send the world into a supply shock. Recovering from the oversupply situation is a crucial step for the global oil and gas industry. However, improving from the case with a supply shock may lead to some unexpected results, thus adversely affecting all the industries.

Global Oil & Gas Instrumentation market stable during COVID 19.

noreply@blogger.com (Anand) — Wed, 16 Jun 2021 02:30:00 +0000

The newly published market research study Global Oil and Gas Instrumentation Market Size, Status and Forecast 2020-2026 deeply studies a bunch of insightful and comprehensive details about the market. The report is an exhaustive research investigation of this global Oil and Gas Instrumentation market that has been anticipated to accumulate exceptionally considerable returns before the finish of the conjecture span. The report presents a proper description of every section and emerging industry trends. It gives knowledge into vital parameters, for example, showcases size, deals volume, income figure. The research focuses on distinct parameters such as market risk factors, challenges, industrial developments, new opportunities available in the report.

Market Scenario:

The report features the divisions of the global Oil and Gas Instrumentation market and characteristics insights about each sub-sections of the market. The report showcases the valuation of the market size, SWOT Analysis, territorial market opportunity, deals, income by area, cost investigation, and industrial chain. Information on market size and other market aspects is demonstrated through graphs and statistics, tables, bar and pie charts, and a lot more for business insight. Then the study incorporates point by point data about market drivers, restrictions, difficulties, threats, and potential development chances of the global market. It also comprises of patterns that are foreseen to affect the development of the industry market during the forecast period frame somewhere in the range of 2020 and 2026. Assessment of these patterns is included alongside their item advancements in the report.

Essential vendors involved in this report are: ABB, Agilent, Noshok, SGS, SIKA, Chandler Engineering, Yokogawa Electric, AMETEK, ABLE Instruments & Controls, Emerson, GE, Endress+Hauser Maulburg, Honeywell, Schneider Electric, Rockwell, Siemens, Mitsubishi, Yokogawa,

Significant Takeaways From The Study:

Leading as well as prominent players of the global Oil and Gas Instrumentation market are broadly studied on the basis of key factors. Moreover, other aspects such as customer base, sales reach, local coverage, production price trends, and production cost layout are also analyzed in this report. Also, the report expounds on details relating to the goods manufactured by these firms, that would help new industry participants and major stakeholders work on their competition and portfolio strategies. The report delivers information regarding market competition trends – extremely essential data subject to contender intelligence and the current industry drifts. This information will enable shareholders to compete and take advantage of the biggest growth opportunities in the global Oil and Gas Instrumentation market. Here, all the data featured in the report is validated and revalidated with the help of trustworthy sources.

Oil and Gas markets recovery related to growth in Manufacturing.

noreply@blogger.com (Anand) — Tue, 08 Jun 2021 22:30:00 +0000

A revival in manufacturing across the world holds the key to the mid-term recovery of oil and gas markets, with consumer demand likely to lag as the energy industry begins to recover from the twin shock of the COVID-19 crisis and the resulting demand crash.

Participating in the latest online ADIPEC Energy Dialogue, Rachel Ziemba, an economic and political risk expert and Founder of Ziemba Insights, said the early signs from China, the first major economy to exit from the COVID-19 induced lockdown, are that manufacturing has bounced back more than consumption and that trend could be repeated in other countries.

“It is notable that the COVID crisis and the associated economic and energy crisis has really been the first to blow out the global consumer,” Ziemba said. “2008 was much more of a hit to the financial sector and manufacturing. This time it is the reverse. The big question is how quickly consumer demand will come back.”

Ziemba added it could be well into 2021 before oil and gas markets get to volumes approaching where the industry was at the end of 2019.

Looking at the trends likely to impact the recovery of oil markets in the mid-term, Ziemba said the OPEC Plus group of producers has had some success in tightening the market. But a question mark hangs over how long supply can be constrained.

“The challenge is that a few countries, those that are most economically strapped and not eligible for debt relief, are not complying in full and some have barely reduced production,” Ziemba said. “Despite pressure from the likes of Saudi Arabia and Russia, it is going to be very difficult for them to comply because these are countries that had big fiscal deficits when oil was US$70 a barrel.

“The other challenge is that we are starting to see parts of the US shale industry starting to reverse shut ins. We are also seeing more rig activity after many weeks of decline. In a price range of mid-30s into a 40 range, there will be more entities that can make some money and the risk is that it puts even more pressure on OPEC Plus. So, I do think the most likely scenario is a rolling over and extension of the supply cuts.”

Access to credit, to support economic recovery, is an additional challenge for indebted oil producing countries, which are having to deal with multiple shocks at the same time, including sizable outbreaks of the COVID-19 coronavirus that may or may not be under control. Many of the oil producers that are in a tougher financial position than their rich peers are too wealthy to qualify for debt relief, Ziemba said, heightening social, political and economic risks which could further impact the oil and gas industry.

Elsewhere, as oil and gas companies seek for ways to recover, Ziemba said she expects to see some industry consolidation, particularly in the United States with more cash rich entities looking to go into smaller, more speculative areas that are lower cost. She also highlighted the possibility of further job cuts as companies become leaner and decide between boosting commercial reserves, or partnering with governments. Meanwhile, she added she expects to see more National Oil Company enter into partnerships, for example Middle East producers and Asian buyers, which enable greater creativity in payment terms and contracts.

The ADIPEC Energy Dialogue is a series of weekly online thought leadership events created by dmg events, organisers of the annual Abu Dhabi International Exhibition and Conference. Featuring key stakeholders and decision-makers in the oil and gas industry, the dialogues focus on how the industry is evolving and transforming in response to the rapidly changing energy market.

ADIPEC 2020 is projected to attract more than 155,000 energy professionals from 67 countries; including senior decision-makers and energy industry thought leaders, over 2200 exhibiting companies and 23 national exhibiting pavilions as oil and gas companies convene to share views and best practices to address the long-term impact of the triple challenge of lower oil prices, weaker demand and over supply.

Held under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE; hosted by the Abu Dhabi National Oil Company (ADNOC); and supported by the UAE Ministry of Energy & Industry, the Abu Dhabi Chamber, and the Abu Dhabi Tourism and Culture Authority, ADIPEC is scheduled to take place from November 9 to 11, at the Abu Dhabi National Exhibition Centre (ADNEC).

Can Artificial Intelligence keep Oil and Gas assets safe?

noreply@blogger.com (Anand) — Sun, 23 May 2021 20:30:00 +0000

As artificial intelligence (AI) systems begin to control safety-critical infrastructure across a growing number of industries, the need to ensure safe use of AI in systems has become a top priority. DNV GL has launched a position paper to provide guidance on responsible use of AI. The paper asserts that data-driven models alone may not be sufficient to ensure safety and calling for a combination of data and causal models to mitigate risk.

Entitled AI + Safety, the position paper details the advance of AI and how such autonomous and self-learning systems are becoming more and more responsible for making safety-critical decisions. The operation of many safety-critical systems has traditionally been automated through control theory by making decisions based on a predefined set of rules and the current state of the system. Conversely, AI tries to automatically learn reasonable rules based on previous experience.Since major incidents in the oil and gas industry are fortunately scarce, such scenarios are not well captured by data-driven models alone as not enough failure-data is available to make such critical decisions. AI and machine-learning algorithms, which currently rely on data-driven models to predict and act upon future scenarios, may not be sufficient then to assure safe operations and protect lives. DNV GL seeks to combine the best of the traditional physics-based methods with the opportunities provided by novel data-driven approaches.

“The emergence of AI and digital-based solutions is the next natural step for the oil and gas sector to drive efficiencies and forty percent of senior oil and gas professionals say that digitalization has improved safety over the past three years. The industry is already developing and working with autonomous robots capable of performing a plethora of complex actions, including reading dials and gauges and navigating around obstacles on offshore assets.

“However, a combination of data-driven models and the causal and physics-based knowledge of industry experts is essential when AI and machine learning are used to inform or make decisions in safety-critical systems,” said Simen Eldevik, author of the position paper and a principle research scientist with DNV GL Risk & Machine Learning.

The position paper stresses that if the industry can supplement these data-driven models by generating physics-based casual data, it will be significantly closer to the safe implementation of AI in safety-critical systems.

DNV GL has joined forces with Norway’s largest universities and companies, including Equinor, Kongsberg Group and Telenor, to establish a Norwegian ‘powerhouse’ for AI. The Norwegian Open AI Lab aims to improve the quality and capacity for research, education and innovation in AI, machine learning and big data.

“We are supporting the industry to confidently make use of the most appropriate modelling and analytical approaches to better understand AI and reduce the high-risk scenarios we have pledged to safeguard against. As the sector accelerates its digital ambitions, confidence and trust in AI will be a huge step forward in its adoption and implementation,”

Working remotely in energy and materials in a covid world.

noreply@blogger.com (Anand) — Tue, 18 May 2021 21:00:00 +0000

The world has undergone unprecedented change because of COVID-19, with energy and materials sectors such as oil and gas, mining, metals, and chemicals among the most heavily affected. A sharp decrease in demand has shifted market power to customers, further intensifying market competition. This, combined with supply-chain disruption, has created a severe margin squeeze for energy and materials businesses. Many companies are not only seeking solutions to improve their performance in the short term—and increase their competitive edge in shrinking markets—but also to ensure long-term sustainability in the next normal through healthy transformation.

While some industries, such as software development, have been able to move seamlessly to working remotely, many energy and materials companies must retain at least some highly skilled operations and maintenance workers on-site. Still, those that adopt new tools or structures to enhance remote ways of working could improve their future operating models, attracting top talent or reducing costs. In this article, we review the challenges facing energy and materials manufacturers, suggest best practices to strengthen remote ways of working, and discuss the dimensions of a long-term transformation.

Energy and materials companies transitioning to remote ways of working face immediate communication challenges, many of which are compounded by inadequate technology infrastructure and reduced organizational efficiency. On the former, relying on existing digital tools alone is often an inadequate solution, as many remote sites face certain limitations, such as insufficient internet bandwidth. And on the latter, organizational chaos may be compounded by deteriorating company culture, as large teams are sometimes split up across different locations.

Finally, the very nature of working remotely presents its own challenges. Our research shows that remote workers, even in times of normalcy, often feel like they don’t have the skills to be successful for extended periods of time. In fact, they worry that such arrangements make them less valuable. With COVID-19, these pressures will likely be intensified. Therefore, the measures companies previously took to protect the well-being of workers and maintain operational efficiency may no longer be good enough.

As part of an initial response to COVID-19, many companies were forced to quickly introduce emergency plans to ensure site safety. Measures were put in place to adjust rotation schedules and provide personal protection equipment (PPE). After that, ongoing projects were reviewed, prioritized, and recalibrated to account for available resources. Teams and individuals eligible for remote work were then identified and necessary role changes were assigned. As a result, all non-essential employees—those not required to ensure continuous operations—were moved to working remotely and were equipped with laptops, mobile phones, and data access. In the meantime, site leaders developed simple infrastructure for newly adopted operating models and project managers defined routines to ensure the progress of teams. They also found and assigned the right talent to the right areas, fast-tracked decision making, and established crisis-response centers. Such day-zero response efforts were critical to handle the immediate effects of the pandemic, though it became clear that a more comprehensive transition to working remotely was needed This Mckinsey report was written by Greg Kudar, Lapo Mori, Jonathan Oswalt, Sebastian Reiter, Robert Samek

AI-enabled IoT platform improves productivity for oil and gas client.

noreply@blogger.com (Anand) — Thu, 06 May 2021 23:00:00 +0000

Indian IT services firm Kellton Tech has implemented its Cloud-based artificial intelligence (AI)-enabled Internet of Things (IoT) and real-time analytics platform for an undisclosed customer in the oil and gas industry.

The company implemented the customisable Optima IoT platform using its proprietary IoT Edge device Envision, a remote communication modular gateway.

The deployment of Optima, which connects multiple wells with controllers and analogue and digital sensors to Envision, will enable downstream oil and gas enterprises to optimise and predict events. This is expected to reduce the amount of time spent on maintenance processes and result in an increased output of up to 30%.

Kellton Tech co-founder and chairman Niranjan Chintam said: “Kellton Tech has been working on the cutting-edge of IoT innovation for the last few years. We have gained huge traction in the last six months.

“IoT has gone from a once hyped-up novelty to a transformational force in the world of business. It is not just a new product feature; it is a whole new way of doing business. Businesses can now see when a device needs servicing, with problems being anticipated and addressed before they even occur, allowing customers to get higher availability levels.”

Optima offers improved visibility of well operations. It also enhances operational efficiency, maximises oil production and reduces the cost and risk of operating wells.

According to Kellton, the platform will allow clients to collaborate between different departments and various levels of management.

Optima enables the integration of people, data, information, processes, and technology to ensure data can be accessed round the clock.

Companies using Envision will have secure access to real-time data acquisition, transmission, processing, computation, and control from remote oilfield well sites and gathering stations both onshore and offshore.

The device will support remote monitoring, equipment protection, and onsite automation.

How Covid-19 is impacting emerging economies oil and gas sector.

noreply@blogger.com (Valve Solutions) — Tue, 27 Apr 2021 21:30:00 +0000

Lately, China has established itself as the most dominant country among the emerging economies, hence, when Wuhan City in Hubei became ground zero for Covid-19 outbreak, it resulted in a pronounced slowdown in the global economy, including the oil and gas industry.

China consumes 13.5 million barrels per day (bpd) of crude oil annually according to a 2018 estimate, of which around 62% is obtained through imports. The lockdowns and travel restrictions imposed in some of the major cities across China have resulted in declining consumption of petroleum products in the country.

The steep decline in the workforce, a consequence of lockdown, has also disrupted port activity in China. Major ports, such as Shenzhen and Shanghai exhibited about 20% year-on-year decline in the month of February. It prompted companies, such as PetroChina and China National Offshore Oil Corporation (CNOOC) to decline some crude oil cargoes from Brazil and West Africa.

Chinese national oil companies have also cut down on refinery output due to labour shortages. This has also impacted the activity of other industries depending on petroleum and petrochemical products made available by refineries.

In February 2020, China’s state-owned refiners announced a cut in the refining throughput of 940,000bpd for the month of February. Downstream projects that are under construction, such as Jieyang, Lianyungang 2, Dayushan Island phase two and Zhejiang Petrochemical Daishan Xylene Plant 2, could potentially see some delays in execution due to the disruption in supply chains amid travel restrictions.

Chinese firms have also invested in the oil and gas sector of several other emerging markets, especially Russia, Brazil, Nigeria and Mexico. These countries too may witness some dip in their oil and gas income due to the faltering energy consumption in China and the subsequent spread of the disease in different parts of the world.

Chinese firms have collaborated with Russian oil and gas firms on several key projects of late, particularly in the Arctic region. The ones that are under construction, such as the Arctic-2 liquified natural gas (LNG) liquefaction terminal, may get hampered. Brazil and Nigeria also export significant volumes of their crude oil production to China, which are likely to drop over the short term.

India has been one of the beneficiaries of the Covid-19 outbreak in China and the resultant low oil prices, in contrast to other emerging economies. Following China’s cancellation of some crude oil imports, India refiners, such as Bharat Petroleum Corporation Limited (BPCL), have purchased stranded consignments of from the Mediterranean and Latin American regions at discounted rates.

Oil & Gas Industry Training Part 1 [VIDEO]

noreply@blogger.com (Anand) — Fri, 16 Apr 2021 22:30:00 +0000

ADNOC’s Downstream refining capacity to increase by 600,000 bpd, by 2025.

noreply@blogger.com (Anand) — Sun, 04 Apr 2021 23:00:00 +0000

ADNOC Refining, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), announced, today, it has successfully completed the commissioning of a specialized coker unit, as part of its Carbon Black and Coker Project. With this, ADNOC will extract the maximum value from ‘bottom-of-the-barrel’ heavy oils and slurry, as it delivers on its aggressive Downstream strategy.

ADNOC’s Carbon Black & Coker Project incorporates a coker, known in the oil and gas industry as a ‘delayed coker’, that will allow ADNOC Refining to recover highly specialized and valuable grades of carbon black and calcined coke. Not only will it create higher value from what would otherwise be used for low value fuel oil, but both products are essential to industrial processes within ADNOC subsidiaries and other UAE industries, potentially removing the need to import costly raw materials.

Increasing the flexibility of ADNOC’s refining assets to stretch the value of every barrel of oil – and produce additional feedstocks and additives for the petrochemical industry – is a key pillar of ADNOC’s Downstream expansion strategy, announced at its Downstream Investment Forum earlier this year. The strategy will see ADNOC become a world-class producer, supplier and trader of refined and petrochemical products, as it focuses on growth markets in Asia, including China.

ADNOC’s multi-billion-dirham Downstream investment program will see the company’s refining capacity increase by more than 65%, or 600,000 bpd, by 2025, through the addition of a third refinery, creating a total capacity of 1.5 million barrels per day (mbpd). The new refinery will significantly increase the capability, flexibility and output of Abu Dhabi’s refining operations by adding to the range of crudes that can be processed. ADNOC also plans to build one of the world’s largest mixed feed crackers, which will enable it to produce additional feedstocks and additives for the petrochemicals industry.

Abdulaziz AlHajri, Director of ADNOC’s Downstream Directorate, said: “At the heart of our Downstream strategy is an AED 165 billion (US $45 billion) investment, over the next five years, that will create the world’s largest integrated refining and petrochemicals hub in Ruwais, where ADNOC will convert 20% of its crude to chemicals, tripling petrochemical production capacity to 14.4 million tons per year, by 2025. In parallel, ADNOC intends to build an international, integrated Downstream presence, including securing additional crude refining capacity in growth markets.”

The commissioning of the new coker unit coincided with the first production of Green petroleum coke in the UAE. An intermediate product, Green petroleum coke can be further processed to produce either fuel oils, or calcine petroleum coke, a raw material used by the aluminum and steel industries.

Jasem Ali Al Sayegh, CEO of ADNOC Refining, said: “We are delighted to introduce technology that extracts more value from our downstream operations. The successful commissioning of the coker project, along with the production of the first Green coke created in the UAE, will improve ADNOC Refining’s margins by maximizing value from every barrel of crude oil that we refine. By working with local petrochemicals and aluminum industries, and engaging new local and international customers for these high value products, we will deliver greater value to ADNOC and more broadly to the UAE economy.”

Through the Carbon Black & Coker Project, ADNOC Refining can produce 40,600 tons of two different grades of Carbon black per year, and 430,000 tons of high value anode grade calcined coke. Borouge, a joint venture between ADNOC and Borealis, makes extensive use of special carbon black grades across a range of products, including high-pressure water and gas pipes, steel pipe coatings and linings, and standalone piping. Calcined coke is a key ingredient in the anodes used in the electrolysis process that separates pure aluminum from bauxite ore. The UAE is the world’s sixth-largest aluminum producer, accounting for over 50 percent of the Gulf’s aluminum production, with annual production of 2.6 million metric tons.

Top 8 Oil and Gas Technology trends for 2020.

noreply@blogger.com (Anand) — Tue, 16 Mar 2021 22:00:00 +0000