Oil firm upheaval will add to Algerian investment woes

2020 ◽  
Keyword(s):  
Oil And Gas ◽  
Chief Executive ◽  
Gas Production ◽  
Net Energy ◽  
Medium Term ◽  
Oil And Gas Production ◽  
Content Type ◽  
Oil Company ◽  
A Company ◽  
Marking Time

Subject The context and impact of changes in the Algerian state oil firm. Significance The appointment in February of its third new chief executive within a year is symptomatic of deep malaise in the national oil company, Sonatrach. The managerial turbulence comes as the company’s revenues are under pressure owing to a combination of declining production and tumbling oil and gas prices. Impacts Algeria faces the prospect of becoming a net energy importer if investment in oil and gas production, plus renewables, keeps marking time. The new Sonatrach chief will have difficulty imposing his authority on a company beset by corruption and factional rivalries. Progress on a key refinery project, for which the contract was signed in January, will have a bearing on medium-term fuel supply balance.

There is no easy solution to Cuba’s fuel challenges

2019 ◽  
Keyword(s):  
United States ◽  
Oil And Gas ◽  
New Technologies ◽  
The United States ◽  
Gas Production ◽  
Oil Price ◽  
Oil And Gas Production ◽  
Content Type ◽  
Generating Capacity ◽  
Major Producer

Subject Cuba's energy troubles. Significance With a previously generous Venezuela facing economic crisis and the United States tightening sanctions, Cuba’s ability to augment its limited domestic oil and gas production is severely constrained. It lacks the export earnings to invest in new technologies and power generating capacity that could ease its fuel supply problems. Russia and China have spoken of offering assistance, but neither is inclined to provide handouts in the absence of commercial returns. Impacts Cuba has tried to trade more with Algeria and Angola but remains vulnerable to international oil price shifts. As a major producer of both sugar and biofuels, Brazil could provide a model for Cuba’s biofuel plans. Cubans are resilient and accustomed to hardship; the country’s looming economic troubles are unlikely to trigger serious unrest.

Economic woes to drive Greenland's hydrocarbons effort

2015 ◽  
Keyword(s):  
Oil And Gas ◽  
Gas Production ◽  
The Arctic ◽  
Oil And Gas Production ◽  
Content Type ◽  
New Generation ◽  
Economic Ties ◽  
Opening Up ◽  
The Eu

Subject Prospects for the hydrocarbons sector under the new government Significance After three years of GDP contraction, a new government is pursuing increased foreign investment in hydrocarbons, to boost employment and growth and to repair the budget. In the long term, Greenland is likely to emerge as an international shipping, mining and hydrocarbons centre. For now, the fall in the international oil price has seen oil exploration stop. The wish for economic development is leading a new generation of Greenlandic politicians to embark on re-integration with the EU, where a ban on seal products is the greatest obstacle to closer ties. Impacts Infrastructure and climate challenges mean that full-scale oil and gas production is at least 15-20 years away. Emerging Greenland-China economic ties may create a new alignment in the opening up of the Arctic. A relaxation of the EU seal products ban would ease negotiations on Greenland's further integration with the bloc. Enhanced EU-Greenland ties could extend the EU's role in the Arctic.

Oil hopes could distract Bahrain from urgent reforms

2018 ◽  
Keyword(s):  
Economic Performance ◽  
Oil And Gas ◽  
Credit Rating ◽  
Gas Production ◽  
Medium Term ◽  
Content Type ◽  
Gulf States ◽  
Offshore Oil And Gas ◽  
Oil Wealth ◽  
Offshore Oil

Subject Hydrocarbons in Bahrain’s economy. Significance A potentially game-changing offshore oil and gas discovery could offer fresh hope for Bahrain’s weak public finances and broader economic woes. The find, announced in April, comes at a time when -- although its recent economic performance has been stronger than anticipated -- there has been medium-term stagnation in some of the sectors at the heart of Manama’s diversification efforts. Impacts Renewed gas production could render obsolete the liquefied natural gas import terminal due for completion in 2019. The hope of new oil wealth could support an upgrade in Bahrain’s credit rating and lower borrowing costs. Neighbouring Gulf states may be increasingly less inclined to make valuable grants, after reports of newfound oil wealth.

Russia's 2018 GDP mini-surge will not be repeated

2019 ◽  
Keyword(s):  
Economic Activity ◽  
Oil And Gas ◽  
Gas Production ◽  
External Shocks ◽  
Government Officials ◽  
Private Debt ◽  
Oil And Gas Production ◽  
Content Type ◽  
Consensus Forecasts ◽  
Oil Markets

Subject Russia's economic performance. Significance The GDP growth figure of 2.3% in 2018 announced by the economic development ministry is modest but still diverges enough from consensus forecasts to raise doubts about its veracity. The explanation seems to lie in the inclusion of previously unrecorded Arctic construction, plus high oil and gas production, and strong financial-sector activity, albeit the result of borrowing by hard-pressed consumers. Impacts An unexpectedly strong start to the year for oil prices will support economic activity in Russia. Global oil markets are currently more bullish than bearish thanks to fears about supply from Venezuela and Iran. Russia's state reserves exceed sovereign and private debt together, providing a cushion against external shocks. The nature and scale of further US sanctions will keep investors and government officials on edge.

What fuels oil company risk?

2009 ◽  
Vol 49 (1) ◽  
pp. 183
Author(s):  
Les Coleman
Keyword(s):  
United States ◽  
Oil And Gas ◽  
Research Question ◽  
The United States ◽  
Gas Production ◽  
Risk Propensity ◽  
Oil And Gas Production ◽  
Integrated Theory ◽  
And Performance ◽  
Oil Company

This article has a simple research question: what determines the risks of oil producing companies listed in Australia and the United States, and are there any differences between their risk attitudes? A literature review is used to develop an integrated theory of company risk that is validated using a hand-collected database covering active oil and gas production companies in Australia and the United States. Risk in both countries proved to be a function of company risk propensity and risk management, which each had a small number of deep-seated drivers spread across company structure, governance and performance. These common risk-related features between companies in geographically remote countries point to the complexity of achieving portfolio diversification.

Oil and gas majors are decarbonising their businesses

2021 ◽  
Keyword(s):  
Oil And Gas ◽  
Energy Transition ◽  
Gas Production ◽  
Power Sector ◽  
Oil And Gas Production ◽  
Content Type ◽  
Oil Reserves ◽  
The Us ◽  
New Energy ◽  
Capital Spending

Significance While the US oil majors are adopting strategies primarily based on decarbonising oil and gas production, European companies are also developing new businesses designed to compensate for future demand-led reductions in oil and gas revenues. The European majors’ entry into the power sector and renewable energy markets brings new, well-financed and technologically proficient competitors into a sector made up predominantly of utilities and smaller developers. Impacts Hydrocarbon majors' capital spending on renewables will rise over the next decade. The oil majors will continue to buy into promising new energy transition technologies. These companies will invest in oil output and protect their legacy assets, but their valuations will be less driven by their oil reserves.

Outsourcing and clustering as a development form of coope- ration in the national service industry of oil and gas production

2020 ◽  
pp. 65-68
Author(s):  
O.B. Huseinli ◽  
Keyword(s):  
Oil And Gas ◽  
Service Industry ◽  
Gas Production ◽  
Service Market ◽  
Gas Field ◽  
Oil And Gas Production ◽  
Service Companies ◽  
Business Customers ◽  
Oil Gas ◽  
Oil Company

The paper reviews the formation prospects of two up-to-date forms of economic cooperation in the sphere of oil and gas production – outsourcing and clustering, as well as the schematic presentation of their implementation. The outsourcing means the execution of the functions on the systematic professional support of working efficiency of the business customer by the operation company under the permanent contract. The outsourcing allows the oil-gas producing company increasing its capitalization and profit amount. Therefore, the oil company can fix innovative, scientific and technological resources in its hands providing maximum meeting of business customers’ demands. The development of oil service cluster, in its turn, aims to provide the interaction of all corporate parties. The establishment of cluster unions in oil-gas field with the participation of petroleum service companies under the principles mentioned in the paper will contribute to the development of both oil-gas complex in a whole and petroleum service market.

Senegal's Sall will look to bolster his standing

2020 ◽  
Keyword(s):  
Oil And Gas ◽  
Poor Response ◽  
Gas Production ◽  
Public Attention ◽  
Oil And Gas Production ◽  
Content Type ◽  
Significant Damage ◽  
Restrictive Measures ◽  
Public Revenues ◽  
Public Criticism

Significance The changes follow recent public criticism over Sall’s poor response to flooding that caused significant damage in many areas, including the capital Dakar, coupled with anger over restrictive measures to combat COVID-19. Public attention has temporarily shifted to the inclusion in government of several opposition figures, most notably 2019 presidential runner-up Idrissa Seck. Impacts The successful third-term bids of his Guinean and Ivorian counterparts could bolster Sall’s purported aim to follow suit. Sall will try to use new social relief measures and social programmes to stem rising public anger. Oil and gas production will significantly boost public revenues, but not until at least 2023 after a recent postponement.

scholarly journals Development of Oil and Gas Projects Based on the Cluster Approach on the Example of the Irkutsk Oil Company

2020 ◽  
Vol 11 (2) ◽  
Author(s):  
Maria Chalikova-Uhanova ◽  
Alexey Samarukha
Keyword(s):  
Large Scale ◽  
Oil And Gas ◽  
Production Capacity ◽  
Value Added ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Gas Clusters ◽  
Oil Company

Currently, world experience in oil and gas production shows that long-term economic impact of the industry can only be achieved if high value-added production capacity is established. The article analyzed the role of oil and gas industry worldwide and in Russia, noting relatively low level of hydrocarbon processing in Russia. The article analyzed international experience of various forms of state participation in creation and support of oil and gas clusters. Main trends in the development of gas and chemical industry abroad have been identified. We analyzed the current strategy for the development of chemical and petrochemical complex up to 2030. The conclusion is made about the need for state support for large-scale projects to create clusters in the field of oil and gas production and refining. The article described main stages of the project to create an oil and gas cluster in the Irkutsk Region - a gas project of the Irkutsk Oil Company.

Numerical simulation of two-phase flow regime in horizontal pipeline and its validation

2018 ◽  
Vol 28 (6) ◽  
pp. 1279-1314 ◽  
Author(s):  
Sam Ban ◽  
William Pao ◽  
Mohammad Shakir Nasif
Keyword(s):  
Flow Regime ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Liquid Holdup ◽  
Two Phase ◽  
Horizontal Pipe ◽  
Oil And Gas Production ◽  
Content Type ◽  
The Difference

Purpose The purpose of this paper is to investigate oil-gas slug formation in horizontal straight pipe and its associated pressure gradient, slug liquid holdup and slug frequency. Design/methodology/approach The abrupt change in gas/liquid velocities, which causes transition of flow patterns, was analyzed using incompressible volume of fluid method to capture the dynamic gas-liquid interface. The validity of present model and its methodology was validated using Baker’s flow regime chart for 3.15 inches diameter horizontal pipe and with existing experimental data to ensure its correctness. Findings The present paper proposes simplified correlations for liquid holdup and slug frequency by comparison with numerous existing models. The paper also identified correlations that can be used in operational oil and gas industry and several outlier models that may not be applicable. Research limitations/implications The correlation may be limited to the range of material properties used in this paper. Practical implications Numerically derived liquid holdup and holdup frequency agreed reasonably with the experimentally derived correlations. Social implications The models could be used to design pipeline and piping systems for oil and gas production. Originality/value The paper simulated all the seven flow regimes with superior results compared to existing methodology. New correlations derived numerically are compared to published experimental correlations to understand the difference between models.

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