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Thursday, March 10, 2016
Wednesday, March 9, 2016
Exploration Technics for non-technical professionals
This video gives a non-technical oil & gas professional a detailed look at Exploration techniques for the oil and gas industry
Tuesday, March 8, 2016
THROWBACK: Wale Tinubu Interview with The Oil Council
Wale, many thanks for joining us today, for our readers who might be unaware of all that Oando PLC does, can you give us a brief overview of the company?
Oando Plc is an integrated Pan-African energy company with a plethora of assets spanning the entire energy value chain from the Downstream to the Upstream.
In the downstream, we possess the country’s largest distribution network with over 400 retail outlets and operations in Nigeria, Ghana, Benin and Togo. 7 terminals, 3 aviation fuel depots, 3 blending plants, and 10 LPG filling plants within Nigeria, approximately 15% of the country’s fuel requirement is currently supplied by Oando. We also recently completed construction of a 1km subsea pipeline which will result in substantial savings on our shipping costs and demurrage.
In the midstream, our focus is on infrastructure development and captive power solution. We have an extensive footprint of gas and power projects in the country having constructed over 250km of pipelines in Lagos and South East Nigeria and a power generated capacity of 22.25MW.
Monday, March 7, 2016
Iraq is second-leading contributor to global liquids supply growth in 2015
Iraq was the second-leading contributor to the growth in global oil supply in 2015, behind only the United States. Crude oil production in Iraq, including fields in the Kurdistan Region of northern Iraq, averaged 4.0 million barrels per day (b/d) in 2015, almost 700,000 b/d above the 2014 level. Iraq is the second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC) and accounted for about 75% of total OPEC production growth in 2015. Iraq's oil consumption decreased slightly in 2015, and as a result, all of the crude oil production increase was exported to international markets.
In southern Iraq, where almost 90% of the country's oil was produced in 2015, the upgrade of midstream infrastructure (pipeline pumping stations and storage facilities) and improvements to crude oil quality contributed to increased production.
In southern Iraq, where almost 90% of the country's oil was produced in 2015, the upgrade of midstream infrastructure (pipeline pumping stations and storage facilities) and improvements to crude oil quality contributed to increased production.
Sunday, March 6, 2016
Global politics and economics Oil price prognosis
Predicting the oil prices is a hundred million dollar question; in literal sense, it's a game of billions of dollars. This is one of the most difficult tasks, given that there're too many variables and moving parts on the economic, and more so, on the political fronts. Market punters are not willing to take a view for longer tenors and quote forward rates for larger volumes beyond 2/3 months. The recent phenomenon is surely more political than otherwise.
The similar situation was witnessed almost 30 years back, in 1985-86 when there was oversupply situation whilst demand, and hence prices, remained subdued. The meaningful difference this time round, however, is the enhanced world storage capacity availability - 85 million tons. Therefore, as a side note, the storage in the oil sector remains the single biggest business opportunity for the investors, particularly in Pakistan, as that would determine the energy security levels and dependence on the international oil supplies and the price volatility in future.
Whatever the case maybe, the fact of the matter is that the oil price movement is largely dependent on the global politics. This is also a fact that the US is driving the world politics, and their future actions will drive where the prices will settle. The dependence of USA on the Middle Eastern, more specifically Saudi, oil is minimal - merely 16%. This was all achieved in a very strategic way in the last decade by the administration of USA - imposing ban on exports, focusing on indigenous E&P activities (shale, case in point) and enhancing the storage capacities. Resultantly, in 2010-11, the total indigenous production over took the imports which stands at over 60% now.
This development helped USA in driving the
The similar situation was witnessed almost 30 years back, in 1985-86 when there was oversupply situation whilst demand, and hence prices, remained subdued. The meaningful difference this time round, however, is the enhanced world storage capacity availability - 85 million tons. Therefore, as a side note, the storage in the oil sector remains the single biggest business opportunity for the investors, particularly in Pakistan, as that would determine the energy security levels and dependence on the international oil supplies and the price volatility in future.
Whatever the case maybe, the fact of the matter is that the oil price movement is largely dependent on the global politics. This is also a fact that the US is driving the world politics, and their future actions will drive where the prices will settle. The dependence of USA on the Middle Eastern, more specifically Saudi, oil is minimal - merely 16%. This was all achieved in a very strategic way in the last decade by the administration of USA - imposing ban on exports, focusing on indigenous E&P activities (shale, case in point) and enhancing the storage capacities. Resultantly, in 2010-11, the total indigenous production over took the imports which stands at over 60% now.
This development helped USA in driving the
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