Business environment review 2020

2021 ◽  
Vol 61 (2) ◽  
pp. 347
Author(s):  
Simon Molyneux
Keyword(s):  
Carbon Emissions ◽  
Oil And Gas ◽  
Supply And Demand ◽  
Petroleum Industry ◽  
Commodity Prices ◽  
Oil And Gas Industry ◽  
Business Environment ◽  
Gas Industry ◽  
The Impact ◽  
Oil Gas

The petroleum (oil, gas and LNG) business environment in 2020 was adverse. Two factors disrupted the foundations of the global oil and gas industry. First, the COVID-19 global pandemic caused an unprecedented reduction of demand that combined with high levels of production resulted in oversupply of oil, gas and LNG. This gap between supply and demand resulted in a collapse in commodity prices, reduced revenues and cancelling or deferral of investment. Second, societal awareness of the impact of climate change on planet Earth increased. Pressure to reduce carbon emissions and a concomitant societal-shift against carbon-emissions intensive petroleum-based forms of energy generation intensified. Many major players in the petroleum industry re-framed their strategies to focus on energy supply in general and in some cases plan to cease their exploration, development and production activities in the coming decades. In Australia, in part global factors manifested in the deferral of investment decisions on three LNG investments. The Australian Government signalled that gas developments would be a critical part of Australia’s post-COVID recovery and that management of abandonment and decommissioning liabilities would be a factor in the approval of transactions leading to a change in ownership. This paper will describe each of the factors faced by the industry in 2020 and frame the issues facing the petroleum industry in 2021 and beyond.

The Impact of News on the MICEX Oil & Gas Index: Textual Analysis

2018 ◽  
Vol 2018 (4) ◽  
pp. 79-99
Author(s):  
Elena Fedorova ◽  
Oleg Rogov ◽  
Valery Klyuchnikov
Keyword(s):  
Oil And Gas ◽  
Pearson Correlation ◽  
Oil And Gas Industry ◽  
Stock Index ◽  
Gas Industry ◽  
Negative News ◽  
The Russian Federation ◽  
Oil And Gas Companies ◽  
The Impact ◽  
Oil Gas

In this study, a relationship between the mood of news and the response of the oil and gas industry index of the Russian Federation was revealed. The empirical base of the study included 8.5 million news from foreign sources. Research methodology: fuzzy sets, naive Bayesian classifier, Pearson correlation coefficient. As a result of the research, it was discovered that: 1) negative news affects the stronger than the positive on the stock index; 2) news on companies affect the value of the index, and news on the industry affect the volume of trading; 3) the sanctions did not significantly affect the coverage of Russian oil and gas companies.

BIOCHEMICAL AND CHEMICAL PARAMETERS FOR AQUATIC ECOSYSTEM HEALTH ASSESSMENTS ADAPTED TO THE AUSTRALIAN OIL AND GAS INDUSTRY

1999 ◽  
Vol 39 (1) ◽  
pp. 584 ◽  
Author(s):  
M.M. Gagnon ◽  
K. Grice ◽  
R.I. Kagi
Keyword(s):  
Environmental Health ◽  
Biochemical Markers ◽  
Oil And Gas ◽  
Petroleum Industry ◽  
Oil And Gas Industry ◽  
Marine Organisms ◽  
Chemical Markers ◽  
Gas Industry ◽  
Chemical Measurements ◽  
The Impact

Field assessments using biochemical and chemical markers in marine organisms will be necessary to provide the Australian Petroleum Industry with a realistic evaluation of the impact of their activities on the marine environment. In field investigations, wild or caged animals are sacrificed and their organs are collected in order to assess if industrial activities do have a significant adverse impact on the organisms' health. Biochemical markers of chronic exposure to contamination may include reversible effects such as induction of a detoxification system, or permanent effects such as damage to nuclear DN A. Studies of sentinel species using biochemical markers of exposure, complemented by chemical analyses provide a realistic holistic method for assessment of environmental health. This multidisciplinary approach has proven valuable in Europe and North America.This paper outlines the need for biochemical and chemical markers to assess environmental health in a dynamic milieu such as the North West Shelf of Australia. Selected biochemical markers for use by the oil and gas industry in field monitoring of ecological health, and the complementary chemical measurements focussed on persistent contaminants such as poly eye lie aromatic hydrocarbons (PAHs), are described. The biological and ecotoxicological significance of the biochemical markers applied in sentinel marine organisms is reviewed, and some limitations regarding their interpretation are stated. It is suggested that biochemical monitoring of the environment complemented with sophisticated chemical measurements can provide environmental managers working within the oil and gas industry with a system for ecotoxicological monitoring programs in offshore Australia.

scholarly journals Corrosion Control, Prevention and Mitigation in Oil & Gas Industry

2019 ◽  
Vol 9 (2) ◽  
pp. 1568-1572
Keyword(s):  
Oil And Gas ◽  
Continuous Production ◽  
Oil And Gas Industry ◽  
Co2 Corrosion ◽  
Gas Industry ◽  
Well Control ◽  
Material Choice ◽  
Definition Of ◽  
The Impact ◽  
Oil Gas

The impact of corrosion within the refining industry ends up in the failure of components. This failure leads to closing down the plant to scrub the corroded components. Additionally, corrosion normally causes serious environmental issues, namely spills and releases. A vital resource for all those that are concerned within the corrosion management of oil and gas infrastructure, corrosion management within the oil and gas industry provides engineers and designers with the tools and strategies to plan and implement comprehensive corrosion-management programs for oil and gas infrastructures. Control of corrosion is important for continuous production and evading the well control losses. Materials to be used in down hole have to meet certain characteristics to avoid corrosion and provide additional mechanical strenght. It is potential to determine a logical series of steps for material choice, incorporating analysis of the surroundings, corrosion rate calculations, and final material choice based on established limits. Several developments have taken place in refinement the calculation of CO2 corrosion rates. Moreover, the definition of bitter examination has been reviewed and a way wider evaluation of the relevance of varied established and new materials for various service conditions has been created.

Global Oil & Gas Corporations in a Changing World

2014 ◽  
pp. 3-14
Author(s):  
A. Bereznoi
Keyword(s):  
World Economy ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Business Environment ◽  
Competitive Advantages ◽  
Gas Industry ◽  
Oil Companies ◽  
Corporate Strategies ◽  
Oil Gas ◽  
Structural Shifts

The article explores the main structural shifts in the global oil and gas industry from the perspective of their impact on the elite of international oil companies (IOCs), the so-called supermajors, who have traditionally played key role in this sector of the world economy. The author draws attention to the latest trends in the industry that have pushed the contemporary inheritors of International Oil Cartel to introduce serious changes in their corporate strategies. The attempt is made to disclose the new features of the emerging strategic business model and related unconventional competitive advantages that allow supermajors to maintain stable positions of industry leaders despite unfavorable developments in business environment.

scholarly journals The Alberta Land Stewardship Act and its Impact on Alberta's Oil and Gas Industry

2010 ◽  
Vol 48 (2) ◽  
pp. 295 ◽  
Author(s):  
Alan Harvie ◽  
And Trent Mercier
Keyword(s):  
Land Use ◽  
Oil Sands ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Land Use Decisions ◽  
Land Stewardship ◽  
The Government ◽  
The Impact ◽  
Oil Gas

This article discusses the impact of the Alberta Land Stewardship Act – enacted by the Government of Alberta with the goal of developing an overarching land use policy to manage all lands and natural resources in the province – on Albertans generally, as well as the oil, gas, and oil sands industries. Although the implementation of the Act is in its early stages, the article nonetheless argues that the Act, and the authority that it grants, will significantly alter the way that land use decisions are made in Alberta and, of specific interest to those in the oil, gas, and oil sands industries, the manner in which proposed projects are reviewed and approved.

Minimizing Carbon Footprint by Smart Sustainable Reservoir Management

2021 ◽  
Author(s):  
Klemens Katterbauer ◽  
Alberto Marsala ◽  
Abdulaziz Al Qasim ◽  
Ali Yousif
Keyword(s):  
Carbon Footprint ◽  
Carbon Emissions ◽  
Industrial Revolution ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Hydrocarbon Production ◽  
Reservoir Performance ◽  
Final Optimization ◽  
The Impact

Abstract Sustainability and reducing carbon footprint has attracted attention in the oil and gas industry to optimize recovery and increase efficiency. The 4th Industrial Revolution has made an enormous impact in the oil and gas industry and on analyzing carbon footprint reduction opportunities. This allows classification of various reservoir operations, installation of permanent sensors and robots on the field, and reduction of overall power consumption. We present an overview of new AI approaches for optimizing reservoir performance while reducing their carbon footprint. We will outline the significant carbon emissions contributors for field operations and how their impact will change throughout the production's lifecycle from a reservoir. Based on this analysis, we will outline via an AI-driven optimization framework areas of improvement to reduce the carbon footprint considering the uncertainty. We analyzed the framework's performance on a synthetic reservoir model with several producing wells, water, and CO2 injecting wells. Beneficial in reducing carbon emissions from the field is the reuse and injection of CO2 for enhancing hydrocarbon production from the reservoir. One hundred different scenarios were then investigated utilizing an innovative autoregressive network model to determine the impact of these components on the overall carbon emission of the field and determine its uncertainty. The conclusions from the analysis were then incorporated into a data-driven optimization routine to minimize carbon footprint while maximizing reservoir performance. The final optimization results of the showcase outlined the ability to reduce the carbon footprint significantly.

Consideration of Geopolitical Challenges within the Analysis of Geoenvironmental Risks for Oil and Gas Development of the Russian Arctic

2019 ◽  
Vol 16 (6) ◽  
pp. 50-59
Author(s):  
O. P. Trubitsina ◽  
V. N. Bashkin
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Optimal Operation ◽  
The Arctic ◽  
Stage Model ◽  
Oil And Gas Development ◽  
Gas Industry ◽  
The Impact ◽  
Further Development ◽  
Geopolitical Risks

The article is devoted to the consideration of geopolitical challenges for the analysis of geoenvironmental risks (GERs) in the hydrocarbon development of the Arctic territory. Geopolitical risks (GPRs), like GERs, can be transformed into opposite external environment factors of oil and gas industry facilities in the form of additional opportunities or threats, which the authors identify in detail for each type of risk. This is necessary for further development of methodological base of expert methods for GER management in the context of the implementational proposed two-stage model of the GER analysis taking to account GPR for the improvement of effectiveness making decisions to ensure optimal operation of the facility oil and gas industry and minimize the impact on the environment in the geopolitical conditions of the Arctic.The authors declare no conflict of interest

Study the effect of casting temperature on details from thermo-plastic materials

2020 ◽  
pp. 42-45
Author(s):  
J.A. Kerimov ◽  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Mold Temperature ◽  
Quality Parameters ◽  
Oil Field ◽  
Casting Temperature ◽  
Gas Industry ◽  
Field Equipment ◽  
Wide Range ◽  
The Impact

The implementation of plastic details in various constructions enables to reduce the prime cost and labor intensity of machine and device manufacturing, decrease the weight of design and improve their quality and reliability at the same time. The studies were carried out with the aim of labor productivity increase and substitution of colored and black metals with plastic masses. For this purpose, the details with certain characteristics were selected for further implementation of developed technological process in oil-gas industry. The paper investigates the impact of cylinder and compression mold temperature on the quality parameters (shrinkage and hardness) of plastic details in oil-field equipment. The accessible boundaries of quality indicators of the details operated in the equipment of exploration, drilling and exploitation of oil and gas industry are studied in a wide range of mode parameters. The mathematic dependences between quality parameters (shrinkage and hardness) of the details on casting temperature are specified.

On Approaches to Taking into Account the Risks of Changing Climatic Conditions when Planning and Implementing Oil and Gas Projects

2021 ◽  
Vol 18 (1) ◽  
pp. 52-65
Author(s):  
P. N. Mikheev
Keyword(s):  
Climate Change ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Climatic Conditions ◽  
Qualitative Assessment ◽  
Physical Factors ◽  
Gas Industry ◽  
Climate Risks ◽  
The Impact

The article discusses issues related to the impact of climate change on the objects of the oil and gas industry. The main trends in climate change on a global and regional (on the territory of Russian Federation) scale are outlined. Possible approaches to the identification and assessment of climate risks are discussed. The role of climatic risks as physical factors at various stages of development and implementation of oil and gas projects is shown. Based on the example of oil and gas facilities in the Tomsk region, a qualitative assessment of the level of potential risk from a weather and climatic perspective is given. Approaches to creating a risk management and adaptation system to climate change are presented.

Applied Mechanics Problems in the Oil and Gas Industry

1986 ◽  
Vol 39 (11) ◽  
pp. 1687-1696 ◽  
Author(s):  
Jean-Claude Roegiers
Keyword(s):  
Oil And Gas ◽  
Petroleum Industry ◽  
Oil Industry ◽  
Oil And Gas Industry ◽  
Production Equipment ◽  
Paper Briefly ◽  
Research Activity ◽  
Gas Industry ◽  
Well Production ◽  
Current Research Activity

The petroleum industry offers a broad spectrum of problems that falls within the domain of expertise of mechanical engineers. These problems range from the design of well production equipment to the evaluation of formation responses to production and stimulation. This paper briefly describes various aspects and related difficulties with which the oil industry has to deal, from the time the well is spudded until the field is abandoned. It attempts to delineate the problems, to outline the approaches presently used, and to discuss areas where additional research is needed. Areas of current research activity also are described; whenever appropriate, typical or pertinent case histories are used to illustrate a point.

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