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Natural Gas Energy
Annual Report 2006 Contents - PROFILE, MISSION, VISION 2015, VALUES AND CONDUCT - HIGHLIGHTS - MESSAGE FROM THE CEO - OIL MARKET OVERVIEW - CORPORATE STRATEGY - BUSINESSES Exploration and Production Refining and Commercialization Petrochemicals Transportation Distribution Natural Gas Energy - INTERNATIONAL ACTIVITIES - SOCIAL AND ENVIRONMENTAL RESPONSIBILITY Human Resources Health, Safety and the Environment Social, Environmental, Cultural and Sports Sponsorship - INTANGIBLE ASSETS Technological Capital Organizational Capital Human Capital Relationship Capital - BUSINESS MANAGEMENT Business Performance Capital Markets Risk Management Corporate Governance Annual Report 2006 2 Profile Petrobras is a publicly listed company that operates on an integrated and specialized basis in the following segments of the oil, gas and energy sector: exploration and production; refining, commercialization, transportation and petrochemicals; the distribution of oil products; natural gas and energy. Founded in 1953, Petrobras is now the world’s 14 th largest oil company, according to the publication Petroleum Intelligence Weekly . The leader in the Brazilian hydrocarbons sector, the company has been expanding, in order to become an integrated energy business with international operations, and the leader in Latin America. Mission To operate safely and profitably, in a socially and environmentally responsible manner, within the oil, gas and energy sector, both domestically and abroad, supplying products and services that meet the needs of the customers, thereby -
Financing Options in the Oil and Gas Industry, Practical Law UK Practice Note
Financing options in the oil and gas industry, Practical Law UK Practice Note... Financing options in the oil and gas industry by Suzanne Szczetnikowicz and John Dewar, Milbank, Tweed, Hadley & McCloy LLP and Practical Law Finance. Practice notes | Maintained | United Kingdom Scope of this note Industry overview Upstream What is an upstream oil and gas project? Typical equity structure Relationship with the state Key commercial contracts in an upstream project Specific risks in financing an upstream project Sources of financing in the upstream sector Midstream, downstream and integrated projects Typical equity structures What is a midstream oil and gas project? Specific risks in financing a midstream project What is a downstream oil and gas project? Specific risks in financing a downstream project Integrated projects Sources of financing in midstream, downstream and integrated projects Multi-sourced project finance Shareholder funding Equity bridge financing Additional sources of financing Other financing considerations for the oil and gas sectors Expansion financings Hedging Refinancing Current market trends A note on the structures and financing options and risks typically associated with the oil and gas industry. © 2018 Thomson Reuters. All rights reserved. 1 Financing options in the oil and gas industry, Practical Law UK Practice Note... Scope of this note This note considers the structures, financing options and risks typically associated with the oil and gas industry. It is written from the perspective of a lawyer seeking to structure a project that is capable of being financed and also addresses the aspects of funding various components of the industry from exploration and extraction to refining, processing, storage and transportation. -
UT2 2009 March
Contents Contents News Mussel Power 4 Subsea Report 5 UT2 March 2009 The magazine of the Seismic Society for Underwater Technology Seismic Coil Shooting 6-8 Towed Streamer Technology 8-9 Oceans Projects Seafl oor Laboratory 10, Life on MARS 12 Oceans News Hydroid for Geomar 14, Ice Profi lers 14 Tsunami Detection Remote Vehicles Offshore 15, Google Earth 15, Seabed Visualisation 16, Depth Measurement 16, Pressure Sensor 16, Swedish Tracking 17, Waterside security 18, Contour Generator 18, Seabed Cover: Using mussels as a pollution biosensor Scanning 18, Training Courses 19, Software Enhancement Photo by Vidar Skålevik 20, Deepwater Acoustic release 21, Seabed Classifi cation Cables and Software 22, Glass Ceiling 22, Current Profi ler 22 Umbilicals Usan and Skarv 24, Airgun Umbilicals 24, Jade 24 Digital Digital Controlled Manipulator, Digital Pan and Tilt 26, Revolution March 2009 Vol 4 No 1 ROVs & Off shore ROVs Aircraft Crash 28, Icy Ise Hysub 28, Buoyant Market 30, Going East 30, Rock Trencher 30, ISS ROV Control System 2 31, Tracking Jason 31, Wet Mate Connector 31 UT Subsea Perdido 32, Tupi 33, Yttergryta 28, Frigg 34 Asgard 34 Society for Underwater Projects ABS Rules 35, Cascacde Chinook 35, Roncador 36, Girassol Technology 36, Gudrun 36 Machar 37, Tahiti 37 80 Coleman St, Underwater The Lost Arc 40, Friction Stitch Welding 40, Cold Tee 41, London EC25 5BJ Welding and Deeper Welding 42, Future 43, Chamber of Secrets 43, Pipelines EHPIP 44 +44 (1) 480 370007 Births, Marriages and Separations 47 Editor: John Howes [email protected] SUT London SUT AGM 48, Aberdeen SUT AGM 49, Award of Merit 49, Carbon Capture and Storage 50, SUT YP 50 Sub Editor: Mariam Pourshoushtari [email protected] Advertising: Joe Sinfi eld Published by UT2 Publishing Ltd for and on behalf of the Society for Underwater Technology. -
Tip Focus Group on Energy Innovation System Country Report Upstream Oil and Gas in Norway
TIP FOCUS GROUP ON ENERGY INNOVATION SYSTEM COUNTRY REPORT UPSTREAM OIL AND GAS IN NORWAY Aslaug Mikkelsen, Stavanger University College/Rogaland Research Kari Jøsendal, Rogaland Research Jon Moxnes Steineke, Nordregio Antje Rapmund, Norwegian Institute for Studies in Research and Higher Education TABLE OF CONTENT 1 Government institutions and regulatory bodies...................................................................8 Main government institutions........................................................................................................8 Natural resource conditions and regulatory framework ..............................................................9 Globalization and market conditions..........................................................................................10 2 Private sector drivers of innovation in upstream oil and gas ...........................................10 Trends in private sector R&D expenditures ...............................................................................11 3 Public research organizations active in oil and gas exploration and production............12 Trends in public sector R&D expenditures.................................................................................13 Publicly funded research programmes .......................................................................................13 4 Upstream oil and gas: knowledge creation, diffusion and exploitation ...........................15 Private and national oil companies ............................................................................................15 -
Oil and Gas in Indonesia Investment and Taxation Guide
Oil and Gas in Indonesia Investment and Taxation Guide September 2019, 10th Edition www.pwc.com/id This page and cover photo courtesy of: PT Medco Energi Internasional Tbk. DISCLAIMER: This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication and, to the extent permitted by law, KAP Tanudiredja, Wibisana, Rintis & Rekan, PT Prima Wahana Caraka, PT PricewaterhouseCoopers Indonesia Advisory, PT PricewaterhouseCoopers Consulting Indonesia, and Melli Darsa & Co., Advocates & Legal Consultants, its members, employees, and agents do not accept or assume any liability, responsibility, or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance upon the information contained in this publication or for any decision based on it. Regulatory information is current to 31 July 2019. 1 Contents Glossary 4 Foreword 10 1 Industry Overview 12 2 Regulatory Framework 24 3 (Conventional) Upstream Sector 40 106 4 Gross Split PSCs 5 Downstream Sector 118 Service Providers 6 to the Upstream Sector 136 Appendices 142 About PwC | PwC Oil & Gas Contacts Insertion - Indonesian Oil & Gas Concessions and Major Infrastructure Map 147 Glossary Term Definition AFE Authorisation for Expenditure APBN Anggaran -
The Future of Energy and the Case of the Arctic Offshore: the Role of Strategic Management
Journal of Marine Science and Engineering Article The Future of Energy and the Case of the Arctic Offshore: The Role of Strategic Management Elias G. Carayannis 1, Alina Ilinova 2,* and Alexey Cherepovitsyn 2 1 School of Business, George Washington University, Washington, DC 20052, USA; [email protected] 2 Organization and Management Department, Saint-Petersburg Mining University, 199106 Saint-Petersburg, Russia; [email protected] * Correspondence: [email protected]; Tel.: +7-921-349-3472 Abstract: As risk and uncertainty factors have become more prominent in the already volatile energy market because of the COVID-19 pandemic, the development of Arctic hydrocarbon resources has become a debatable issue. At any rate, oil and gas companies need to improve their strategic manage- ment systems (along with the development of technologies) for the successful implementation of such complex projects. The purpose of this study was to propose the conceptual basis for transforming strategic management and planning systems of oil and gas companies so that they can successfully face global challenges when implementing offshore oil and gas projects in the Arctic as well as provide more sustainable energy sources. The article discusses the current situation with Arctic initiatives and the results of an analysis of price instability in the energy sector, along with an analysis of several megatrends affecting oil and gas companies. All this allows for presenting a conceptual vision of how a strategic management system should be transformed in order to become able to meet the requirements for implementing Arctic projects, with the emphasis being placed on sustainability, management requirements, and the key principles. -
2021 Oil and Gas M&A Outlook: Consolidation Through the Price Cycle
2021 oil and gas M&A outlook: Consolidation through the price cycle Contents Executive summary 1 COVID-19 undermined market fundamentals in 2020 3 2020 M&A sector by segment 7 Four trends for 2021 13 Toward a brighter future 20 Endnotes 21 Lets talk 23 Methodology Deloitte’s 2021 oil and gas M&A outlook leverages Enverus’s global M&A database, updated on January 6, 2021. The data includes all reported 2020 upstream, oilfield services (OFS), midstream, and downstream transactions valued at more than $10 million, excluding those between related parties and government lease sales and licensing. Sector Deals Deals down YoY Sector Deals 258 deals 433 deals in 2020 in 2019 Deals down 218 B YoY 347 B 258 deals 433 deals in 2020 in 2019 Sector10 argest Deals Global Deals 218 B 2021 oil and gas M&A347 outlook: B Consolidation through the price cycle Upstream Deals down 10 argest Global Deals YoY 7 of 10 258 deals 433 deals Executive summary Midstream 4 deals in the in 2020 in 2019 Upstream USA The spread of COVID-19 greatly affected the oil and gas industry as deals across the sector in 2020, the lowest number in more than Downstream218 B 1 347 B demand for energy declined, compounded by supply uncertainty a decade. Deal value fell below $30 billion in the first half7 of of the10 Midstream 4 deals in the from OPEC+, leading to lower, more volatile commodity prices. year, also the lowest in the decade, but rebounded to almostUSA $170 Revenues and earnings declined substantially, leading to not just billion in the second half. -
View Annual Report
Contents PROFILE, MISSION, 2020 VISION MAIN INDICATORS MESSAGE FROM THE CEO RESULTS AND BUSINESS - Analysis of the oil market - Corporate strategy - Stock performance - Exploration and production - Refining and marketing - Petrochemicals - Transportation - Distribution - Natural Gas - Electric Power - Biofuels - International Research & Development SOCIAL AND ENVIRONMENTAL RESPONSIBILITY - Social Responsibility - Health, Safety, Environment and Energy Efficiency MANAGEMENT & ORGANIZATIONAL STRUCTURE - Financing - Risk management - Human resources - Corporate governance FINANCIAL ANALYSIS - Economic-Financial Summary Consolidated - Consolidated Results - Net Income by Business Segment - Added Value Distributed - Liquidity and Capital Resources - Debt - Taxes and Production Taxes - Assets and Liabilities subject to Exchange Variation 2 Profile Founded in 1953 and the Brazilian oil sector leader, Petrobras is a publicly-held corporation which closed 2012 as the seventh largest energy company in the world in terms of market capitalization, according to the ranking published by the Consulting firm PFC Energy. It was also ranked 12th by Petroleum Intelligence Weekly (PIW), which, in addition to market cap, considers six operational criteria. In the oil, gas and energy industry, Petrobras operates in an integrated and specialized manner in the exploration and production, refining, marketing, transportation, petrochemical, oil product distribution, natural gas, electric power, gas-chemical and biofuel segments. Mission To operate in a safe and -
Technip Brazil: Solid Local Foundations for Profitable Growth
Technip Brazil: Solid Local Foundations for Profitable Growth Paulo Veronesi, Subsea Commercial Director, Brazil Investor Day in Brazil, October 4, 2011 Key Aspects of Brazil’s Economy One of the world’s largest economies 193 million inhabitants over 8.5 million km² 2010 nominal GDP: US$2.1 trillion (Ranked 8th globally) World’s seventh-largest oil consumer(1) Driven by natural resources ~40% of stock market capitalization (IBOVESPA index) 2.1 mb/d oil production US$74 billion of agricultural exports(2) Forthcoming sports events trigger significant investments Soccer World Cup in 2014 and Olympic Games in 2016 Source: Brazilian National Petroleum Agency (ANP), CIA World Factbook, IHS Global Insight, MDIC (1) Domestic oil demand of ~2 mb/d (2) From November 2009 to October 2010 2 Investor Day in Brazil, October 4, 2011 Focus on the Oil Industry Expected oil production Diversified customer base (Thousand barrels per day) 5 000 National company: 4 900 CAGR: 8.7% 98.5% of Brazilian production 4 000 ~14 billion boe of proved oil reserves 3 000 CAGR: Other operators 5.3% 2 000 2 137 1 716 1 268 1 000 … 2000 2005 2010 2020 Brazil’s oil production is estimated to double by 2020 Source: BP Statistical Review of World Energy 2011, Bradesco Corretora, Petrobras, PFC Energy. 3 Investor Day in Brazil, October 4, 2011 Brazil’s Leadership in Deepwater Worldwide new discoveries 2005 - 2010 Deepwater discoveries (33,989 million bbl) (300 - 1,500 meters) Deepwater accounts for 50% of worldwide discoveries over the last 5 years Development -
Brazilian Achievements 2010 Your Best Choice for Business and Investment
BRAZILA BRAND OF EXCELLENCE BRAZILIAN ACHIEVEMENTS 2010 YOUR BEST CHOICE FOR BUSINESS AND INVESTMENT PAC 1: A Long Cycle of Expansion Growth in Industrial Output Floating Exchange Rate and International Reserves Annual GDP growth Data in % annual change International reserves allow secure exchange rate fluctuation PAC 1 PAC 2 8 250 US$ billions Mar 03 - 241.7 6 6 Ago 08 - 205.1 Average 200 5 5.5% 4 4 2 150 Average 3 4.2% 0 100 2 - 2 50 1 - 4 Average 1.7% 0 0 - 6 Jan Jan Jan Jan Jan Jan Jan Jan Jan 1998 2000 2002 2004 2006 2008 2010* 2012* 2014* 1995 1997 1999 2001 2003 2005 2007 2009*10* 02 03 04 05 06 07 08 09 10 *Government forecast Source: IBGE *Forecast Source: FGV Source: Central Bank of Brazil Investment Has Strong Growth Path Job Creation Inflation Targeting Forecast of investment ratio 2009-2012 (% of GDP) Net Creation of Jobs Six consecutive years of inflation on target 22.0 10 MILLION JOBS IN THE FORMAL ECONOMY 8 1600 Market 21.0 7 forecast Forecast 20.0 1200 6 2010 4.91% 19.0 800 5 4 18.0 400 3 17.0 0 2 16.0 -400 1 15.0 0 1 2006 2007 2008 2009 2010 2011 2012 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10* Jan/04 Jan/05 Jan/06 Jan/07 Jan/08 Jan/09 Jan/10 Jan/11 Source: APE/BNDES *Government forecast Source: MTE/CAGED Source: Central Bank of Brazil Brazil is awash with optimism, thanks to a booming economy, huge new oil fields, the 2014 World Cup and the 2016 Olympic Games Achievements.indd 1 4/17/10 1:22 AM BRAZIL Contents APRIL / MAY / 2010 DIRECTOR AND EDITOR Dirceu Brisola ENGLISH EDITOR Brian Nicholson ASSISTANT EDITOR Luiz Gonzaga S. -
P-36 Report-R
OCS Study MMS 2008-052 Benefits and Burdens of OCS Activities on States, Labor Market Areas, Coastal Counties, and Selected Communities Supplemental Study Component Social and Economic Impacts of the Sinking of Petrobras-36 (P-36) Deepwater Oil Platform Author John S. Petterson, PhD Prepared under MMS Contracts 1435-01-98-CT-30899 1435-01-00-CT-31066 (M98PC0001) Submitted to New Orleans November 2008 Background Information Petrobras Petrobras was founded in 1953 as a state-owned company after the government decided that all natural resources were the property of the state. Previously, all petroleum products had been imported into Brazil. At the beginning of Petrobras’ establishment, there were not many new reserves that were found. This problem compounded the national debt that already existed as a result of the absence of private oil companies investing in the country (Deloitte Touche Tohmatsu, 2002). Since Petrobras was the only oil company in Brazil, it incurred all the exploration risk. The two international oil crises of 1973 and 1979 severely affected Brazil’s economy- mainly due to an increase in import costs. Petrobras was ordered to find more oil. An extensive exploration program began in the late 70’s and early 80’s that included moving exploration activity into deepwater areas. The discoveries made particularly in the Campos Basin produced lucrative oil fields. In 1988, Article 177 of Brazil’s constitution was passed, prohibiting foreign investment in the hydrocarbon industry. This secured Petrobras’ monopoly, which in turn secured the state’s monopoly on the oil industry (ibid). In 1997, the 44 year monopoly that Petrobras had held effectively ended when Brazil opened the industry to outside private companies through a series of licensing rounds. -
Fact Book: Offshore Oil and Gas Industry Support Sectors
OCS Study BOEMRE 2010-042 Coastal Marine Institute Fact Book: Offshore Oil and Gas Industry Support Sectors U.S. Department of the Interior Bureau of Ocean Energy Management, Cooperative Agreement Regulation and Enforcement Coastal Marine Institute Louisiana State University Gulf of Mexico OCS Region OCS Study BOEMRE 2010-042 Coastal Marine Institute Fact Book: Offshore Oil and Gas Industry Support Sectors Author David E. Dismukes December 2010 Prepared under BOEMRE Cooperative Agreement 1435-01-99-CA-30951-85248 (M07AC12508) by Louisiana State University Center for Energy Studies Baton Rouge, Louisiana 70803 Published by U.S. Department of the Interior Cooperative Agreement Bureau of Ocean Energy Management, Coastal Marine Institute Regulation and Enforcement Louisiana State University Gulf of Mexico OCS Region DISCLAIMER This report was prepared under contract between the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) and Louisiana State University’s Center for Energy Studies. This report has been technically reviewed by the BOEMRE, and it has been approved for publication. Approval does not signify that the contents necessarily reflect the views and policies of the BOEMRE, nor does mention of trade names or commercial products constitute endorsement or recommendation for use. It is, however, exempt from review and compliance with the BOEMRE editorial standards. REPORT AVAILABILITY This report is available only in compact disc format from the Bureau of Ocean Energy Management, Regulation and Enforcement, Gulf of Mexico OCS Region, at a charge of $15.00, by referencing OCS Study BOEMRE 2010-042. The report may be downloaded from the BOEMRE website through the Environmental Studies Program Information System (ESPIS).