The Weekly Digest brings you the highlights of 'The Mix: Oil and Water!' for the past week.
Catch up. Read your favourite Articles and Posts- again and again...and some more!!!
**CLICK ON THE ARTICLES TO READ**
Top 5 Posts Read- This Week:
Read | Learn | Discuss | Share !!!
Saturday, March 31, 2012
Friday, March 30, 2012
TOP NEWS PICK : MARCH 30, 2012
CLICK ON THE LINKS FOR FULL STORIES
Brent rises towards $123
Brent crude rose towards $123 on Friday as investors bet on a tighter gasoline market in the world's largest oil consumer during the peak summer driving season and on persistent worries of a supply disruption in the Middle East | Upstream Online
US: Senate rejects ‘Big Oil’ tax breaks, scrambles for answer to high gas prices
WASHINGTON, March 29 (UPI) -- As the U.S. Senate voted 51-47 against a bill that would remove billions of dollars in oil company tax breaks, members of the Senate Committee on Energy and Natural Resources pressed a panel of experts on the nation's rising gas prices | UPI
Norway: NPD widens 2012 APA offerings
The Norwegian Petroleum Directorate (NPD) has expanded the acreage on on offer in the Awards in Predefined Areas (APA) round for 2012 by 48 blocks | Upstream Online
Eaton gets U.S. grant to cut fuel cell costs
The U.S. Department of Energy is giving $2 million to auto supplier Eaton to help reduce the cost of advanced fuel cell systems | Freep
In Wake of Protests, India Confirms
Thursday, March 29, 2012
BURDEN OF SUBSIDIES: The Case for Nigeria Downstream Oil Sector Deregulation
By Ahmed Adamu
Despite the huge amount of money spent in Nigeria to fund subsidies, its cost is observed to outweigh the social benefits and environmental improvements. Other adverse effects of subsidies include the following:
DEMAND GROWTH:
Providing subsidies tend to encourage individuals to consume more even inefficiently due to the lower petroleum products prices they face in the market. Over-consumption of fossil fuels will lead to environmental degradation. This is observed in major Nigerian cities where pollution is highly concentrated in the atmosphere and congestion across the cities. Moreover, no one pays for the environmental degradation hence negative externalities. Similarly, the cost of addressing the environmental challenges could also be more costly. Therefore, removing subsidies will help address the environmental issues because consumption of fossil fuels will reduce relatively.
Wednesday, March 28, 2012
RELIEF FROM FORFEITURE: Knotty issues for Oil Industry Contracting
By Nkaepe Lisk-Carew
The courts of equity have the right to relieve against the forfeiture of property. This gives the defaulter more time to perform its contractual obligations. Relief is available because forfeiture is a draconian remedy which results in substantial and disproportionate loss to the defaulter. How does the doctrine of relief from forfeiture impact on the forfeiture provision in a JOA?
Applicable Case Law
The classical position on relief from forfeiture can be found in the House of Lords decision in Shiloh Spinners Ltd v Harding (“Shiloh”). The case involved a right of re-entry over assigned premises. The claimants claimed possession of the assigned premises while the defendants disputed the right of re-entry and sought relief from forfeiture. Lord Wilberforce in his judgement said:
ESCP Europe - Energy Conference Invitation
On behalf of the Research Centre for Energy Management (RCEM) at ESCP Europe, it is our pleasure to invite you to a special conference in London.
Environmental liability risk: a pressing issue for energy companies
We are entering a new technological era which marks the end of so-called 'easy oil'. This shift creates an increased complexity in energy projects and a growing concern for both environmental impacts and the potential for damage to local populations.
Furthermore, the mishandling of recent catastrophes by large energy companies - as well as the largely unpublicised leaks - have cast serious doubts as to their ability to prevent severe accidents from occurring and if they do to limit their development.
Given all of these factors, there is a growing concern for how prepared energy companies are to deal with the new risks they face. This conference aims to provide a forum for researchers and practitioners to exchange ideas and present new research results on this pressing issue.
TOP NEWS PICK : MARCH 28, 2012
CLICK ON THE LINKS FOR FULL STORIES
Malaysia's Petronas, Total sign HOA on development of offshore sour gas field
Malaysia's Petronas and Total of France have signed a heads of agreement to jointly study the development and production of a high carbon dioxide gas field offshore Sarawak in eastern Malaysia, the state-owned oil and gas company said Wednesday | Platts
Total shuts in gas production from North Sea fields
Production was shut in from Elgin, Franklin, and West Franklin natural gas and condensate fields in the UK North Sea following a Mar. 25 gas leak on the wellhead platform on Elgin field 240 km east of Aberdeen, Total SA reported | Oil & Gas Journal
Indonesia offers 19 blocks
The Indonesian government will invite tenders for five of 19 oil and gas blocks to be offered to investors in the latest block offer, according to reports | Upstream Online
Burma set for block awards
Burma is in the process of awarding nine onshore oil and gas blocks to seven foreign oil companies and their domestic partners, and will launch another tender soon, its energy minister said on Wednesday | Upstream Online
Brent slips below $125
Brent crude fell for a second session on Wednesday, breaching $125, on the possibility of a release of strategic oil reserves by the US even after crude stockpiles in the world's largest oil user rose more than expected last week | Upstream Online
Nigeria to partner private investors in
Tuesday, March 27, 2012
MONETARY TRANSMISSION & THE OIL INDUSTRY
By Lanre Richard Igandan
Monetary policy issues especially sudden monetary shocks have major effects on the economy at least in the short run. Therefore, it is necessary for policy makers to be aware of the implications of their policies on economy. This research by Lanre investigates the extent of the level of the monetary transmission mechanism and the financial accelerator effect on investment possibilities in the oil industry. In order to carry out this investigation, the interest rate channel and credit channels were reviewed alongside other channels such as the foreign exchange and equity price channels. Under the financial accelerator effect, the credit channel has been critically examined. Lanre finds out that monetary policies by the Central Bank has an effect on the level of investment in the oil industry as rising interest rates and inflationary pressures and constrained access to credit under a contractionary monetary policy will negatively affect investment possibilities in the oil industry. Monday, March 26, 2012
TOP NEWS PICK : MARCH 27, 2012
CLICK ON THE LINKS FOR FULL STORIES
Total in North Sea emergency
Total is responding to a well control incident that led to a gas release at its Elgin-Franklin development in the North Sea | Upstream Online
Nigeria, General Electric sign $10bn MoU on new power plants
London – Nigeria has signed a $10 billion agreement with General Electric (GE) to build 10,000 megawatts power plants in the country | Vanguard
Aggreko set to acquire Brazilian rival
Aggreko is set to announce the £140m purchase of a Brazilian rival as the temporary energy supplier buys greater access to one of its fastest growing markets | Financial Times
Dubai abattoirs to apply solar energy system
Dubai Abattoirs are keen to apply the solar energy system in producing hot water aimed at saving the energy and following green building standards | Khaleej Times
Shell to Iran: About that $1B, we're working on it
LONDON — Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because European Union and U.S. financial sanctions now make it almost impossible to process payments, industry sources said | MSNBC
BP looks to sell some North Sea
Sunday, March 25, 2012
What is the future for gas storage in the United Kingdom?
By Chinwe E. Ezeigbo, Project Director- Europe (The Mix: O & W)
Summary of the Energy Institute evening lecture held in London on the 22nd of March, 2012. The presentation was given by Dr Andrew Knights, Petroleum Services Group, Deloitte.Natural gas storage has been described as an “insurance”[1] against unforeseen circumstances that hamper the production of gas. The concept of gas storage is aimed at bridging the gap between supply of gas and the demand for it. Ideally gas which is produced and not used during summer is stored for use during the winter period to meet the increased demand for it at that period. The demand chain for gas is an inconsistent chain and is characterised by wild imbalances. Gas storage helps in the management of the gas supply chain[2]. This is because gas storage serves as an instrument for balancing the gap between supply and demand in the gas market[3] . Gas storage is used as an alternative to other supplies of gas.
Thursday, March 22, 2012
MONI PULO PETROLEUM DEVELOPMENT: Knowledge Sharing and Intrapreneurship?
By Adokiye Tom Briggs
This analysis will seek to evaluate organisational forms managerial strategies and structures used to embed intrapreneurship and knowledge sharing in knowledge intensive industries especially the oil and gas industry. The aim of this article is to overview the managerial strategies and practices of a medium sized indigenous oil and gas exploration and production company, Moni Pulo Limited (MPL) as between its employees and across organisations, for the purposes of suggesting more appropriate entrepreneurship enhancing and knowledge sharing processes across cross-professional teams to enhance competitive advantage.
Wednesday, March 21, 2012
TOP NEWS PICK : MARCH 21, 2012
CLICK ON THE LINKS FOR FULL STORIES
WAfrica Crude-Nigeria loading emerges, Angola offered up
(Reuters) - The May loading schedule for Nigerian crude was released on Tuesday while Angolan oil has started trading actively ahead, with some cargoes offered at strong differentials, traders said | Reuters
Germany’s $263 Billion Renewables Shift Biggest Since War
Not since the allies leveled Germany in World War II has Europe’s biggest economy undertaken a reconstruction of its energy market on this scale | Bloomberg
Oil price spike would have 'serious consequences,' IMF warns
The managing director of the International Monetary Fund warned Tuesday that a sudden spike in oil prices would have "serious consequences" for the global recovery | CBC News
Oil tumbles on Saudi pledge
Oil prices fell more than $1 a barrel in London and nearly $2 in the U.S. market on Tuesday after Saudi Arabia assured that it will increase crude exports to compensate for the loss of Iranian oil | Financial Post
U.S. Exempts Japan, 10 EU Nations From Iran
Friday, March 16, 2012
TRANSFORMATON: SPE Intelligent Energy International 2012
Just over one week to go until the SPE Intelligent Energy International Conference and Exhibition
Don't miss the opportunity to be a part of this international event which marks a milestone on the oil and gas industry's road map to fully integrated operations.
Each year this event brings together the industry's leading professionals to focus on the cutting edge technologies and developments in this field.
SPE programme committee's top level speakers
This year's event will host three plenary sessions discussing important industry topics with some of the most influential players.
Dr Nabeel I Afaleg, Saudi Aramco
Deanna Alaniz, BP
Roy Borkhoche, Baker Hughes
Steve Cassidy, Chevron
Jim Crompton, Chevron
Dr Iraj Ershaghi, USC
Jonathan Lewis, Halliburton
Satish Pai, Schlumberger
Brage Sandstad, ConocoPhillips
Gerald Schotman, Shell
Nathan Tabb, Chevron
Naji Al Umair, Saudi Aramco
Jay Rogers, CEO of Local Motors to give Keynote Address
CEPMLP Professional Development March Newsletter
News and Updates - March 2012
Contents
News and Updates
1. CPD Special Offers
2. Rio Tinto Scholarships- applications now being taken
3. Professor Bekker's latest book receives high praise
4. New Partners join EI Source Book Project
TOP NEWS PICK : MARCH 16, 2012
CLICK ON THE LINKS FOR FULL STORIES
Chevron finds fresh oil leak in Brazil
Chevron has moved to suspend production at its Frade oilfield in Brazil after discovering a second oil spill and subsidence in the seabed near the facility | Financial Times
Obama said to mull tapping oil reserve
WASHINGTON, March 16 (UPI) -- President Barack Obama is mulling tapping U.S. oil reserves to ease gas prices, British officials said after Prime Minister David Cameron left the White House | UPI.com
Anadarko Announces Successful Appraisal Well Encountering High-Quality Oil Offshore Ghana
HOUSTON, TX--(Marketwire -03/16/12)- Anadarko Petroleum Corporation (NYSE: APC - News) today announced the Enyenra-4A appraisal well, located in the Deepwater Tano Block offshore the Republic of Ghana, encountered approximately 105 feet (32 meters) of net oil pay in high-quality sandstone reservoirs, expanding the areal extent of the TEN (Tweneboa, Enyenra and Ntomme) complex | Marketwire
GE To Supply Water Recycling Technology For SAGD Project In Alberta Oil Sands
GE's wastewater evaporation technologies have been selected to improve wastewater recovery at an existing oil sands project near Fort McMurray in Alberta, Canada. The facility utilizes once through steam generators (OTSGs) to produce steam, which drives the steam assisted gravity drainage (SAGD) process for the production of bitumen, which is a heavy crude oil produced from oil sands | Oil and Gas Online
Oil near $106 as US denies plan to
Subscribe to:
Posts (Atom)