Monday, July 30, 2012

Developments in International Oil & Gas | Energy | Extractive Industries

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Brent slips under $106, stimulus expectations fade

LONDON (Reuters) - Brent crude oil fell under $106 a barrel on Monday, erasing early gains as hopes faded that the United States and Europe would soon announce measures to shore up their fragile economies, which could boost the outlook for oil demand | Reuters

Account for Oil revenue periodically … Anglican Bishop tells GNPC

Yinka –Sarfo, has called for proper, systematic and transparent accounts of oil revenue by the Ghana National Petroleum Corporation (GNPC) to the Public Interest and Accountability Committee (PIAC) at least every three months | The Chronicle

Nigeria: Oil Firms Underpay FG U.S.$ 2.33 Billion

Lagos — Nigeria Extractive Industry Transparency Initiative, NEITI, has disclosed that from its audit report between 2006 and 2008, the Nigerian National Petroleum Corporation, NNPC, received $3.789 billion as dividends from Nigeria Liquefied Natural Gas, NLNG, which it did not confirm that the payments were made to the Federation account | Vanguard

CNOOEC's Working Vessel Sunk Offshore Hong Kong during

IRAN’S NUCLEAR PROGRAMME: WHAT IS THE PURPOSE FOR ENRICHING URANIUM?

By Azubuike Smith

Iran has been pursuing its nuclear programme for more than 50 years and the purpose for which it is being pursued is doubtful especially with two decades of clandestine activities and its use of centrifuge enrichment technology, making the detection of secret uranium enrichment very difficult.[1] The revelation of a secret uranium enrichment site at Natanz, heavy water reactor at Arak, and the discovery of a new uranium enrichment plant at Qom in September 2009, among others, is considered internationally as a likely indicator of a nuclear weapon build-up by Iran.

Barnett Shale drilling overview: Texas Gas for the USA

This short video provides an overview of the natural gas drilling process in the Barnett Shale. Animations of the hydraulic fracturing process are highlighted.

JAPAN- Nuclear nation

Despite major safety concerns, why is Japan restarting its nuclear reactors?

Tuesday, July 24, 2012

Trisha O'Reilly- Panel Session on Role of Gas in Energy Mix- Oil & Gas UK

Question and Answer Session on Gas and its role in the UK Energy mix

Michael Tholen- Role of Gas in the Energy Mix- Oil & Gas UK

Gas prices, UK reliance on gas: Any new directions for alternative energy sources; any time soon?

David Cox- Role of Gas in Energy Mix- Oil & Gas UK

Is Gas a destination fuel or a transition fuel?

Monday, July 23, 2012

PIPELINES VS TRUCKS: Anadarko Wattenberg Oil Line

You cannot underestimate the financial and environmental savings of transporting oil via pipeline infrastructure as compared to trucks. Agree?

Understanding 'Indemnities' in Oil & Gas Agreements

Lecturer: Ken Mildwaters

Date: 26th July 2012

Time: 1:30PM

Holiday Inn

20 Seats Available - contact knowledgeseries@ghanaoilclub.org to book your space

Dr Mildwaters is the managing partner of Mildwaters Consulting LLP, a consultancy specialising in the provision of advisory services to participants in the natural resources sector across the world. Prior to establishing Mildwaters Consulting LLP in 2004, Dr Mildwaters was a partner with law firms in England, Europe and Australia, general counsel at Guinness Plc, subsequently Diageo Plc, and was a partner at the investment bank Babcock & Brown.

In a career spanning more than 30 years Dr Mildwaters has advised on

Breakingviews: CNOOC is older and wiser

What is your take on CNOOC's game plan?

Biofuels as an issue of dispute | Tomorrow Today - Talk

How beneficial are biofuels?

Saturday, July 21, 2012

SPE: Nigeria Annual International Conference and Exhibition (NAICE 2012)

The Society of Petroleum Engineers (SPE) Nigeria Council announces the 36th edition of the Nigeria Annual International Conference and Exhibition (NAICE 2012) scheduled to be held on 6-8 August 2012, in Lagos, Nigeria.

NAICE is the largest upstream Oil and Gas event in Africa, held annually in Nigeria and attracts industry practitioners at all levels, as well as key stakeholders. NAICE 2012 is the industry's opportunity to learn, review, and proffer new ideas to chart the right course towards a sustainable future for the industry.

The theme for NAICE 2012 is Future of Oil & Gas: Right Balance with the Environment and Sustainable Stakeholders Participation. The event will explore the elements of a rapidly transforming environmental and societal concerns and expectations; the industry's response with appropriate technology and solutions and the opportunities in emerging legal and political frameworks for all.

Details: CLICK ON CAREERS BOARD PAGE TO FIND OUT MORE.

Friday, July 20, 2012

Endless Oil Spills - Nigeria

The Oil Curse. How many Exxon Valdez-type spills will it take to get world attention and get the Niger Delta out of the Oil Spill Crisis?

Wale Oluwo analyzing the Petroleum Industry Bill

Is this the DREAM BILL or a severely watered down COMPROMISE? Looking forward how will this Bill- if/ when passed- create value for the Nigerian economy?

Local Content Policy in Ghana’s Oil and Gas Industry: What are the Prospects and Challenges?

By Gilbert Azaah

In recent times, local content has become a significant issue and most resource rich countries especially in the oil and gas industry have made it part and parcel of their investment agreements with International Oil Companies (IOCs) by enshrining such requirements in law. Local content according to the International Petroleum Industry Environmental Conservation Association (IPIECA)[1] (2008) is “the added value brought to a host nation (national, regional and local areas in that country, including communities) through the activities of the oil and gas industry. This may be measured (by project, affiliate, and/or country aggregate) and undertaken through activities such as but not limited to: workforce development, supplier development and community development.” It basically refers to the development of local skills, transfer of technology, and the use of local manpower and local manufacturing. Local content provisions are employed by governments especially in developing and middle income earning countries as a way of deriving maximum benefits from their new found wealth in order to “support the long term development of the sector locally so that the future of the oil and gas projects can bring the desired sustainable benefits to the local economy.” (Wilson and Kuszewski, 2011)

Applications Close 30 July for the SPE Forum on Designer Chemicals and Fluids for the Oilfield

This Forum invites our industry experts and thought leaders to participate with designer material experts from chemical and other industries, to explore the potential of applying this new product development paradigm in oil and gas applications, as well as speeding up the process of adopting new technologies from other industries.

Participants will discuss these technologies, their limitations, best practices towards solving the new challenges presented by high temperature and high pressure wells, ultradeep water wells and environmental compliance, along with cross-industry collaboration models that could lower the product qualification cost and time.

Find out more about this Forum on the event website:

Details: CLICK ON CAREERS BOARD PAGE TO FIND OUT MORE.

PetroEdge Presents EPCIC Contract Management & Essential Elements of International Contract Law

30 September - 2 October 2012, Abu Dhabi - 11th run in Asia!

"The quality of your projects is determined by the meticulous specification of your procurement and contract administration”

Dear colleague,

In the Oil & Gas construction and procurement business, the success of your project is dependent on your practical “know how” in contract management. Understanding the essential ingredients of contracts and mastering the fundamentals will equip you to identify vague contracts, avoid dangerous and often hidden terms, and better understand your position and project.

Course Expert Course Director: Jayems Dhingra, Principal Consultant

FSIArb, FCIArb, M.S.I.D, MBA, M. Tech (Knowledge Engineering), M. Sc. (Maritime Studies) B. E. (Elect), Ist Class CoC (DOT, UK). Specialist in the marine, offshore and onshore oil & gas construction industry segments for 30 years in Asia and Europe.

Details: CLICK ON CAREERS BOARD PAGE TO FIND OUT MORE.

HEALTH & SAFETY: Nigeria gold rush is killing children

To what extent is the local extractive industry monitored and evaluated for health and safety? The situation of lead-poisoning in a gold province in Nigeria is killing the very ones it should prosper. What can be done to stem this tide and to introduce (safe) mining best practices?

Aboriginal Employment & Economic Benefits from Oil Sands

Local content and capacity development. Can exploration activity survive without sustainable stakeholder engagement? Let us draw the line here; I think there is a difference between EFFECTIVE stakeholder engagement and SUSTAINABLE stakeholder engagement. Both approaches will deliver results but the former will not last very long....; Agree?

The Truth About Wind Power

Efficient power from an unpredictable source, environmental impact, wind credit, home wind systems- Which way for the U.S.?

Thursday, July 19, 2012

Chesapeake Presidential Scholars Program

I am aware that in Nigeria, there are several scholarship programmes out there. The question is: how do the programmes raise the required skilled human capital within the extractive industries in-country? This applies to so many countries anyway. Training people without a fit with local supply chains is a waste of resources; or do you beg to differ?

Steamflooding Helps Produce Oil & Energy While Producing Water

Environmental-friendly exploration?

Chesapeake partners to open CNG stations across Oklahoma

Is CNG the next big thing in Energy Independence for the U.S.?

How does emissions trading work? | Global Ideas

Makes sense?

U.S. ENERGY FUTURE: BP CEO Bob Dudley on Energy in Ohio

Just how big is BP on the U.S.A. Energy map? BP CEO speaks on BP's commitment to the American Energy Future

Wednesday, July 18, 2012

POWER PROJECT FINANCING: Key Features & Areas of Concern

By John Peter Amewu

The power sector is the major index that drives business, manufacturing and transportation of goods and services to serve a competitive nation’s economy and the world at large. But the mechanism for financing of such projects is becoming tricky for emerging markets. According to the United Nations Environment Programme, the rising global demand for energy will require substantial capital investments in the coming decades. Sustainable energy development will play an important role in meeting this demand, particularly in emerging markets, but many mainstream financiers are averse to supporting what they consider a risky market.[1] While energy project developers face significant financial and regulatory barriers to market entry, a number of foreign governments are at various stages of implementing privatizing policies to allow private ownership of power projects with the assumptions that third party investors would fill the financing void. Promisingly, more financing opportunities are emerging across all sectors, from major corporations and private equity funds, to government and multilateral organizations.[2]

UK: Britain loses billions in oil taxes?

Effective rate of taxation not optimal in the UK? 20 cents on every dollar of revenue from the Oil sector compared to 70 cents on the dollar in Norway. Collection in the UK: 21 dollars per barrel and 48 dollars per barrel in Norway. Up to £5bn lost yearly in under-taxation? The question is why?

Sunday, July 15, 2012

Shell companies in Nigeria: Investing in communities

How are the GMOU's faring in Nigeria? Community-driven development the way to go?

Should the communities now take this one notch up: Blueprints vs Scramblers?

Saturday, July 14, 2012

The Exchange: Exxon is America's Energy Policy

Rob Cox talks to Steve Coll, author of "Private Empire: ExxonMobil and American Power," about the pros and cons of the world's biggest private oil company.

Xinjiang: China's Solar frontier

Is Xinjiang the new model for off-grid energy solutions?

Earthrise - Plastic Fuel

End of life plastics can now be given a new lease of life; with a much lower carbon footprint? How soon can this "know-how" catch up with your constituency?

Thursday, July 12, 2012

Climate of Change in China

Learn more about opportunities at BP: http://bp.com/careers . In building a secure, affordable energy industry in China, BP is focusing on the inclusion and diversification of employees. Learn more from Li Ming, President of BP China.

NIGERIA: Littoral Status of Cross Rivers, Cameroon & Akwa Ibom's 76 Oil wells

To what extent is it right to yank off the littoral status of Cross Rivers State? Now the state map is in dispute. Way forward?

Helping Entrepreneurs Meet Investors (Part I)

Chevron partnered with the Cleantech Open to develop a series of videos to provide guidance on the practical things entrepreneurs must do to transform their ideas into thriving businesses. In this video, Trond Unneland, vice president and managing executive of Chevron Technology Ventures, and other representatives from venture capital funds discuss how entrepreneurs can secure an initial face-to-face meeting with a venture capitalist.

Wednesday, July 11, 2012

Next Generation Energy Forum 2012

According to BP: On June 18, over 150 energy industry leaders gathered in Washington, D.C. for the Next Generation Energy Forum, sponsored by BP Alternative Energy and AtlanticLIVE. The event fostered discussion about the growing role of renewable power across the globe and governments' influence on the alternative energy market. Speakers such as Colorado Governor John Hickenlooper and former EPA Chief Carol Browner talked about the importance of advocating green energy policies. We asked attendees what they thought the future holds for alternative forms of energy. For more information on the event, visit The Atlantic's Next Generation Energy Forum website here: http://events.theatlantic.com/next-generation-energy/2012/

Ernst & Young Australia -- advisory opportunities in oil & gas, mining a...

Ernst & Young Australia are looking for candidates with a resources background interested in roles within our Performance Improvement Advisory Team. Watch this video and hear two partners talk about the opportunities available and the growth Ernst & Young is experiencing in both Oil & Gas and Mining & Metals industry sectors. For more see:

http://ey.com/AU/en/Careers/Experienced/Careers-in-the-Resources-Industry-Sector

Launch of Oil & Gas UK's 2012 Economic Report

View the launch of Oil & Gas UK's 2012 Economic Report which took place on 5 July. The accompanying presentation slides can be found athttp://www.oilandgasuk.co.uk/templates/asset-relay.cfm?frmAssetFileID=2246.

UK: BritishGas A Roll Final Branded

What's your take on energy savings culture in the UK? Will this initiative improve the practice or further complicate it for business?

Monday, July 9, 2012

Carlo Rubbia: Energy for the future | Tomorrow Today

According to DW: "Carlo Rubbia, Physics Nobel Laureate in 1984, is examining sustainability in the context of global energy supplies. Rubbia is the Scientific Director of the Institute for Advanced Studies on Sustainability in Potsdam, Germany. He wants to collate research results from across the world to develop a new strategy on energy. The objective: the sustainable generation, transfer and storage of energy." But really?? A world without coal?

Energy Sector and Business in Nigeria with Gregory Havermahl

Havermahl says Africa is the 'flavour of the month'. Nigeria represents ' a market that you cannot ignore ' but then lack of infrastructure and lack of structure in the Power sector make it difficult to do business without high costs. He also feels that the Energy Industry should be structured so as to make returns on investments easier to capture. How ready is Nigeria's Power sector for business?

Australia: Gas boom in Chinchilla

Chinchilla: Getting ready for a gas boom or the onset of the resource curse?

Developments in International Oil & Gas | Energy | Extractive Industries

CLICK ON THE LINKS FOR FULL STORIES

World rig count up 4.4% in June

The worldwide rig count rose 4.4% last month, with the largest increases being seen in Canada and the Middle East, where Iraq’s rigs were included for the first time in more than 20 years | Upstream Online

Nigeria woos Turkey on development of its steel sector

09 July 2012, Sweetcrude, ABUJA -NIGERIA’s Minister of State for Trade and Investment, Dr. Samuel Ortom, has invited the Turkish government and businessmen to invest in the exploitation of opportunities in its steel sector | SweetCrude

Norway faces oil output shutdown as pension talks fail

Oil and gas production in Norway will be shut down from Tuesday because of a dispute over pensions, a government minister has confirmed | BBC News

Brent climbs to $99 on

REGULATORY CAPTURE: Nigeria's Oil Subsidy Probe

Nigerian Lawyer- Richard Nwankwo discusses issues brought to the fore by the Nigeria Oil Subsidy Probe- which has now gone sour. Is Nigeria experiencing REGULATORY CAPTURE??? According to Adam Thierer: “Regulatory capture” occurs when special interests co-opt policymakers or political bodies — regulatory agencies, in particular — to further their own ends. Capture theory is closely related to the “rent-seeking” and “political failure” theories developed by the public choice school of economics. Another term for regulatory capture is “client politics,” which according to James Q. Wilson, “occurs when most or all of the benefits of a program go to some single, reasonably small interest (and industry, profession, or locality) but most or all of the costs will be borne by a large number of people (for example, all taxpayers).” (James Q. Wilson,Bureaucracy, 1989, at 76). How does Nigeria's Oil Industry shake off the negative externalities- if indeed we can establish that this subsidy probe conundrum is a clear signal of Regulatory Capture? The 2012 PIB?

Algae Bio Fuel, Belize's Coral Reefs and Solar-powered Sea Vessels

Check out the interesting developments in energy and environmental sustainability on this programme. Scrambler or Blueprint?

Friday, July 6, 2012

DOWNLOAD: Nigeria's 2012 Draft Petroleum Industry Bill (PIB)

A BILL

FOR

AN ACT TO PROVIDE FOR THE ESTABLISHMENT OF THE LEGAL AND REGULATORY FRAMEWORK, INSTITUTIONS AND REGULATORY AUTHORITIES FOR THE NIGERIAN PETROLEUM INDUSTRY; ESTABLISH GUIDELINES FOR THE OPERATION OF THE UPSTREAM AND DOWNSTREAM SECTORS.

Download after the jump-break.

The past 5 years have seen some dramatic changes in the way operators and contractors use Flow Assurance and the relevance of the discipline within the field development stages as well as during operation. Started as a downstream of the wellhead discipline, Flow Assurance has

TOPIC:

Recent discoveries has promulgated the nation’s status as an investment hub. In response to this transition, the Government in Q1 2011 developed a local content policy framework aimed at driving the sustainable development of Ghana’s petroleum development though training,

The Lagos Oil Club Q+A - JULY & AUGUST Notices

We are pleased to announce our confirmed Guest Speakers for The Lagos Oil Club Question & Answer Sessions as follows:

1. Dr. Timothy Okon, Nigeria National Petroleum Corporation (NNPC) Group Coordinator, Corporate Strategy and Planning for July Q+A Session.

2. Mr. Peter Johnson, Group Managing Director/CEO, Dorman Long Engineering Limited for August Q+A Session

Our July Q+A Guest Speaker, Dr Tim Okon is Nigeria National Petroleum Corporation (NNPC) Group Executive Director and Coordinator, Corporate Strategy and Planning.

AUSTRALIA: Gas industry booming long-term

EnergyQuest CEO discusses prospects for Australia's Gas Industry. What are the strategic imperatives?

QC Solar of China

China is rising steadily to become a world leader in photo-voltaic. Check out the quality, systems and level of sophistication of this company. We have a long way to go where I am from...or do we?

Uganda Oil exploration: Albertine graben wildlife endangered

What is the extent of environmental liability and responsibility of oil exploration companies in Uganda? What is the environmental impact assessment regime like; should this not be a proactive measure to mitigate against such negative economic externalities and wildlife endangerment as listed in this report?

KENYA: More oil in Turkana

Kenya TV: "Kenyas oil prospects have grown brighter after africa oil corporation which is running oil explorations in turkana discovered yet another oil well within the ngamia 1 section near lokhone in lokichar turkana county. This revelation means the estimate of the amount of potential oil in kenya has increased by a third since the first oil discovery in march".

Iran nuclear energy program from 1953 to 2012

The P5+1 is made up of the 5 permanent members of the United Nations Security Council and Germany. Iran's nuclear program; is it all about energy- or a lot more?

Wednesday, July 4, 2012

KEY LEGAL CONSIDERATIONS FROM THE NIGERIAN OIL AND GAS INDUSTRY CONTENT DEVELOPMENT ACT

By Tade Oyewunmi[1]

1. Introduction

Local or Nigerian Content has been defined as the ‘quantum of composite value added or created in the Nigerian economy through the utilization of Nigerian human and material resources for the provision of goods and services to the petroleum industry within acceptable quality, health, safety and environmental standards in order to stimulate the development of indigenous capabilities.’ It therefore entails creating value to the economy, utilizing local resources and building local capacities.

On the 22^nd April 2010, the Nigerian Oil and Gas Industry Content Development Act (“Local Content Act/the Act”) which was enacted, essentially designed to increase the level of indigenous participation in the Nigerian oil and gas industry as all oil and gas arrangements, contracts and operations are now required to comply with minimum Nigerian content standards and thresholds specified in the Act. Upon the commencement of the Act, all subsequent oil and gas agreements, contracts or memoranda of understanding relating to any operation or transaction in the Nigerian Oil and Gas Industry must conform to the provisions of the Act.

The scope of the Act is extensive and all Operators, contractors, sub-contractors and other entities carrying out projects, operations, activities or transactions in the Nigerian Oil and Gas Industry are required to consider Nigerian Content as an essential factor in their project conceptualization, development and management.[2] The implications and application of the Act, therefore cuts across all sub-sectors of the industry. It has however been applied mostly in the upstream and midstream sub-sectors, which have historically been noted for its paucity in de facto local capacity, expertise and stewardship. This article will focus on the critical legal considerations for an upstream operator[3] or company.

U.S.: Why Fracking Undermines Oil-Services Stocks

Oil Services companies in the U.S. should get ready for a relative slow-down in business. Shale is where the "action" has been for a while but in recent times the price trend (of gas) will fall due to excess supply. Rig numbers will be et al. What to do?

South Africa: Mining For Change with Abiel Mngomezulu

Intelligence and ability to influence the Political, Economic, Social and Technological (PEST) factors are essential external considerations for any industry. Regulatory frameworks must be improved for the 'enabling environment' for the mining business in South Africa. What aspects of the current South Africa Mining laws need to be optimised?

Nigeria: An illegal NNPC account with JP Morgan?

To what extent can one argue that the case of Nigeria is just one of the need for more transparency in the oil and gas sector? The Nigerian National Petroleum Corporation and the Central Bank of Nigeria on the spot: who takes responsibility for this account which is not supported by the nation's laws? How is it possible that the account was opened in the first place?

Australia: Free fuel?

Filling stations have a target of E10 (10% Ethanol) fuel to sell. Woolworths came up with this plan to give free fuel to 200 vehicles. E10 fuel; how is that catching on?

Ghana’s Local Banks and the Ghanaian Petroleum Project Financing Mix

By Adwoa Oye Acquaiye

Unlike other fuels, green-field financing of gas faces certain challenges due to its peculiar attributes. Gas projects are noted to be very complex and expensive. Financing gas projects ‘require a large combination of factors that must be knitted into a seamless fabric to ensure gas trade’[1] Gas projects are market driven hence require a market for the output. Gas trade is cyclical in nature with a regionally segmented market since they rely on the market for the gas produced to be purchased in order to continue production.[2]

Costs are a major determinant of the feasibility of gas projects. A standard investment in a gas project which takes advantage of economies of scale cost between $4 billion to $8 billion coupled with the interest payable during the construction period which is capitalised.[3]

Developments in International Oil & Gas | Energy | Extractive Industries

CLICK ON THE LINKS FOR FULL STORIES

Mobil, Agip, Chevron lead in Nigeria’s gas flaring chart

US companies, ExxonMobil and Chevron, together with Italy’s Agip led Nigeria’s gas flaring chart in the month of February, according to the latest edition of Monthly Petroleum Information published by the Nigerian Nation Petroleum Corporation (NNPC) | Sweetcrude

Political Instability Blocks Nepal’s Hydropower Potential as Daily Power Outages Continue

Nepal has the second-largest water supply in the world, yet it uses less than 1 percent of its hydropower potential | Global Press Institute

GE Oil & Gas, Rosneft, to Pursue Russian Energy Opportunities

GE, Rosneft sign MOU to jointly evaluate & develop opportunities in oil & gas exploration & production in the Russian Federation | Marine Link

Brent rises on Iran tension

Brent crude climbed above $98 per barrel on Tuesday as escalating tensions between Iran and the west offset concerns that gloomy manufacturing data from China, the US and Europe will hurt oil demand | Upstream Online

With PIB, Nigeria set for stability in oil sector

NIGERIA might be heading for unprecedented stability in its oil and gas sector, with the passage of its much-anticipated oil industry law, known, at the current stage, as the Petroleum Industry Bill (PIB) | Sweetcrude

World Bank supports hydropower plant in Pakistan

Karachi—The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance arm of the World Bank Group, has announced to support a hydropower plant in Pakistan, according to a statement issued by the World Bank | Pakistan Observer

U.S. Invests $62-million in