Does crude oil price respond to US oil and gas industry value chain economics

2021 ◽  
Vol 27 (4) ◽  
pp. 434
Author(s):  
Chamil W. Senarathne ◽  
Jianguo Wei
Author(s):  
Nickanor Amwata Owuor

This chapter introduces the key constituent activities of the oil and gas industry and aims to outline the core benefits that the recent oil and gas discoveries in Kenya herald to the country's expectant population. It describes and analyzes the global oil and gas industry with a focus on its strategic, financial, and business aspects. It also identifies the opportunities for participation in the industry value chain through which the oil and gas revenues can be of benefit to the Kenyan people. However, the study's focus is on the creation of social value at the community or country level rather than on private shareholder value. Moreover, the chapter only examines upstream activities—that is, exploration and production—even though the implications might also apply to midstream and downstream activities.


Author(s):  
Lisa M. Gieg ◽  
Mohita Sharma ◽  
Trevor Place ◽  
Jennifer Sargent ◽  
Yin Shen

Abstract Corrosion of carbon steel infrastructure in the oil and gas industry can occur via a variety of chemical, physical, and/or microbiological mechanisms. Although microbial corrosion is known to lead to infrastructure failure in many upstream and downstream operations, predicting when and how microorganisms attack metal surfaces remains a challenge. In crude oil transmission pipelines, a kind of aggressive corrosion known as under deposit corrosion (UDC) can occur, wherein mixtures of solids (sands, clays, inorganic minerals), water, oily hydrocarbons, and microorganisms form discreet, (bio)corrosive sludges on the metal surface. To prevent UDC, operators will use physical cleaning methods (e.g., pigging) combined with chemical treatments such as biocides, corrosion inhibitors, and/or biodispersants. As such, it necessary to evaluate the efficacy of these treatments in preventing UDC by monitoring the sludge characteristics and the microorganisms that are potentially involved in the corrosion process. The efficacies of a biocide, corrosion inhibitor, and biodispersant being used to prevent microbial corrosion in a crude oil transmission pipeline were evaluated. A combination of various microbiological analyses and corrosivity tests were performed using sludge samples collected during pigging operations. The results indicated that the combined treatment using inhibitor, biocide 1 and biodispersant was the most effective in preventing metal damage, and both growth-based and Next-Generation Sequencing approaches provided value towards understanding the effects of the chemical treatments. The efficacy of a different biocide (#2) could be discriminated using these test methods. The results of this study demonstrate the importance of considering and monitoring for microbial corrosion of crucial metal infrastructure in the oil and gas industry, and the value of combining multiple lines of evidence to evaluate the performance of different chemical treatment scenarios.


2017 ◽  
Vol 57 (2) ◽  
pp. 589
Author(s):  
Astrid Barros

The last few years have been challenging ones for the oil and gas industry with a significant drop in oil price. At the same time ageing facilities and a more dynamic market have been driving the need for becoming more efficient in the way we do our business, i.e. business as usual is not enough anymore. It is not only about individual efforts, the global response to the need for becoming more efficient has driven an increase in collaborative initiatives among the industry which we will all benefit from. A few of these initiatives have significantly improved the way we manage offshore floating structures engineering at Woodside.


Energies ◽  
2020 ◽  
Vol 13 (5) ◽  
pp. 1154 ◽  
Author(s):  
Mohmmad Enamul Hoque ◽  
Soo Wah Low ◽  
Mohd Azlan Shah Zaidi

This study examines whether oil and gas risk factors are priced in the returns of Malaysian oil and gas stocks employing asset pricing model with improved version of Fama-MacBeth two-stage panel regression. The findings reveal that oil price risk, gas price risk, and exchange rate risk are priced factors in the returns of oil and gas stocks, alongside market-based risk factors. Oil price, gas price and exchange rate factors are found to be associated with positive risk premium implying that they are systematic risk factors in the Malaysian oil and gas industry. Investors demand compensation for exposure to changes in oil price, gas price and exchange rate, implying that the risk cannot be eliminated through diversification. The risk premium for common systematic risk factors such as market, book-to-market, and momentum factors are found to be negative. The results suggest that in the Malaysian oil and gas industry, momentum driven strategy produces negative returns and investors receive higher returns from investing in growth oriented oil and gas stocks. Our results offer implications for asset pricing and portfolio management.


2020 ◽  
Vol 17 (2) ◽  
pp. 893-901
Author(s):  
Naqiyatul Amirah Mohd Said ◽  
Nur Emma Mustaffa ◽  
Hamizah Liyana Tajul Ariffin

Engineering, Procurement, and Construction Contract is a project delivery method in the oil and gas industry. However, the complexity of Engineering, Procurement and Construction projects inevitably leads to issues of project management, risk and technical to occur. Therefore, oil and gas players demand a course of action in minimizing the issues arise in this project. Digitalization in the oil and gas trade indeed offers benefits in the upstream value chain of exploration, development, and production, which Engineering, Procurement and Construction projects take place. Oil and gas companies had been focusing too much on digitizing technical work until the non-technical aspect has been abandoned. Therefore, this study presents and discusses the issues in Engineering, Procurement and Construction contract specifically in the Malaysian oil and gas industry. This is a descriptive study and the methodology used is essentially based on the review of the literature in relation to Engineering, Procurement and Construction contract and the findings of a pilot study in relation to Engineering, Procurement and Construction contract and cloud computing. The analysis revealed that the characteristics of cloud computing in relation to the adoption of Engineering, Procurement and Construction contract helps in empowering collaboration among stakeholders, allow oil and gas companies work highly automated, improve the performance of upstream oil and gas industry, improve speed and minimize financial risks, delayed in schedule as well as improving the quality of the project.


2021 ◽  
Vol 4 (2) ◽  
pp. 26-33
Author(s):  
Daisy Mui Hung Kee ◽  
Nur Amira Liyana ◽  
Zhang LuXin ◽  
Nur Atikah ◽  
Ninie Alwanis ◽  
...  

As a result of the Covid-19 epidemic, every industry in the world has been greatly affected. We took Malaysia's Petronas as an example to analyze how oil and gas industries were impacted by such a difficult international situation. This paper investigated how Covid-19 affected Petronas and how it responded to the sharp drop in oil price. In a questionnaire survey, we listed the problems that Petronas may face in this outbreak.


2020 ◽  
Vol 6 (3) ◽  
Author(s):  
Mark Burghardt ◽  
Gage Hart Zobell

Oil and gas production continues to be an important sector of Utah’s economy. Following a 25% loss in production between 2014 and 2015, Utah’s production continues to slowly rebound. Crude oil production in 2019 appears to be slightly ahead of 2018 production. Monthly production averages slightly over three million barrels, placing Utah among the top ten states in crude oil production. Along with the continuing increase in production, the state’s legal framework governing oil and gas continues to develop. This Article examines recent changes in Utah statutes and regulations along with new case law developments involving the oil and gas industry. In particular, this Article discusses a recent federal bankruptcy decision involving midstream agreements, the revision to a Utah statute that now requires mandatory reporting of unclaimed mineral interests, and recent revisions to Utah’s oil and gas regulations.


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