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WTI Crude Oil West Texas Intermediate
WTI Crude Oil West Texas Intermediate Alexander Filitz Minh Khoa Nguyen Outline • Crude Oil • Value Chain • Politics • Market • Demand • Facts & Figures • Discussion Crude Oil • Flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds • Is recovered mostly through oil drilling • In its strictest sense, petroleum includes only crude oil, but in common usage it includes all liquid, gaseous, and solid hydrocarbons. • An oil well produces predominantly crude oil, with some natural gas dissolved in it Classification • By the geographic location it is produced in • Its API gravity (an oil industry measure of density) • Its sulfur content • Some of the common reference crudes are: • West Texas Intermediate (WTI), a very high-quality, sweet, light oil delivered at Cushing, Oklahoma for North American oil. • Brent Blend, comprising 15 oils from fields in the North Sea. • Dubai-Oman, used as benchmark for Middle East sour crude oil flowing to the Asia-Pacific region • The OPEC Reference Basket, a weighted average of oil blends from various OPEC (The Organization of the Petroleum Exporting Countries) countries West Texas Intermediate • Also known as Texas light sweet, used as a benchmark in oil pricing • API gravity of around 39.6 and specific gravity of 0.827 and 0.24% sulfur • WTI is refined mostly in the Midwest and Gulf Coast regions in the U.S • It is the underlying commodity of New York Mercantile Exchange's (NYMEX) oil futures contracts • Often referenced in news reports -
Climate and Energy Benchmark in Oil and Gas Insights Report
Climate and Energy Benchmark in Oil and Gas Insights Report Partners XxxxContents Introduction 3 Five key findings 5 Key finding 1: Staying within 1.5°C means companies must 6 keep oil and gas in the ground Key finding 2: Smoke and mirrors: companies are deflecting 8 attention from their inaction and ineffective climate strategies Key finding 3: Greatest contributors to climate change show 11 limited recognition of emissions responsibility through targets and planning Key finding 4: Empty promises: companies’ capital 12 expenditure in low-carbon technologies not nearly enough Key finding 5:National oil companies: big emissions, 16 little transparency, virtually no accountability Ranking 19 Module Summaries 25 Module 1: Targets 25 Module 2: Material Investment 28 Module 3: Intangible Investment 31 Module 4: Sold Products 32 Module 5: Management 34 Module 6: Supplier Engagement 37 Module 7: Client Engagement 39 Module 8: Policy Engagement 41 Module 9: Business Model 43 CLIMATE AND ENERGY BENCHMARK IN OIL AND GAS - INSIGHTS REPORT 2 Introduction Our world needs a major decarbonisation and energy transformation to WBA’s Climate and Energy Benchmark measures and ranks the world’s prevent the climate crisis we’re facing and meet the Paris Agreement goal 100 most influential oil and gas companies on their low-carbon transition. of limiting global warming to 1.5°C. Without urgent climate action, we will The Oil and Gas Benchmark is the first comprehensive assessment experience more extreme weather events, rising sea levels and immense of companies in the oil and gas sector using the International Energy negative impacts on ecosystems. -
Safety and Reliability Improvements of Valves and Actuators for the Offshore Oil and Gas Industry Through Optimized Design
Safety and reliability improvements of valves and actuators for the offshore oil and gas industry through optimized design by Karan Sotoodeh Thesis submitted in fulfilment of the requirements for the degree of DOCTOR PHILOSOPHIAE (Dr. Philos.) Faculty of Science and Technology 2021 UniversityofStavanger NO-4036Stavanger NORWAY www.uis.no ©2021 Karan Sotoodeh ISBN:877 ISSN: PhD:ThesisUiSNo.7 Abstract Valves are essential components of piping systems in the oil and gas industry, especially offshore, where they are used for stopping or starting the fluid, flow regulation, and back flow prevention, as well as safety reasons. The efficiency, safety and reliability of an oil and gas plant is largely dependent on the handling and transportation of fluid through the piping system, including industrial valves. In the offshore sector of the oil and gas industry, valve failure for different reasons, such as corrosion and material failure, inadequate strength against loads, nonconformance to the international standards, etc., is a big risk, with severe negative consequences. Some of the negative impacts of valve failure in the oil and gas industry, especially the offshore sector, can be summarized as loss of asset and production and Safety and Environmental issues (HSE), including problems like environmental pollution, loss of human life in some cases and jeopardizing safety and reliability, etc. Thus, developing methods to improve the design, selection, safety and reliability of valves and actuators is essential and the main objective of this thesis. It should be noted that actuators are mechanical devices installed on the valves, and the performance of the valves is largely dependent on the actuators. -
U.S.-Canada Cross- Border Petroleum Trade
U.S.-Canada Cross- Border Petroleum Trade: An Assessment of Energy Security and Economic Benefits March 2021 Submitted to: American Petroleum Institute 200 Massachusetts Ave NW Suite 1100, Washington, DC 20001 Submitted by: Kevin DeCorla-Souza ICF Resources L.L.C. 9300 Lee Hwy Fairfax, VA 22031 U.S.-Canada Cross-Border Petroleum Trade: An Assessment of Energy Security and Economic Benefits This report was commissioned by the American Petroleum Institute (API) 2 U.S.-Canada Cross-Border Petroleum Trade: An Assessment of Energy Security and Economic Benefits Table of Contents I. Executive Summary ...................................................................................................... 4 II. Introduction ................................................................................................................... 6 III. Overview of U.S.-Canada Petroleum Trade ................................................................. 7 U.S.-Canada Petroleum Trade Volumes Have Surged ........................................................... 7 Petroleum Is a Major Component of Total U.S.-Canada Bilateral Trade ................................. 8 IV. North American Oil Production and Refining Markets Integration ...........................10 U.S.-Canada Oil Trade Reduces North American Dependence on Overseas Crude Oil Imports ..................................................................................................................................10 Cross-Border Pipelines Facilitate U.S.-Canada Oil Market Integration...................................14 -
Registration Document
Registration Document AKER ASA Senior Unsecured Bond Issue 2015/2020 ISIN: NO 0010737158 Date: 30 June 2015 Joint Lead Managers: DNB Markets Nordea Markets Pareto Securities Registration Document IMPORTANT INFORMATION The Registration Document has been prepared in connection with listing of the bonds at Oslo Børs. This Registration Document is subject to the general business terms of the Lead Managers. Confidentiality rules and internal rules restricting the exchange of information between different parts of the Lead Managers may prevent employees of the Lead Managers who are preparing this document from utilizing or being aware of information available to the Lead Managers and/or affiliated companies and which may be relevant to the recipient's decisions. The Lead Managers and/or affiliated companies and/or officers, directors and employees may be a market maker or hold a position in any instrument or related instrument discussed in this Registration Document, and may perform or seek to perform financial advisory or banking services related to such instruments. The Lead Managers’ corporate finance department may act as manager or co-manager for the Company in private and/or public placement and/or resale not publicly available or commonly known. Copies of this Registration Document are not being mailed or otherwise distributed or sent in or into or made available in the United States. Persons receiving this document (including custodians, nominees and trustees) must not distribute or send such documents or any related documents in or into the United States. Other than in compliance with applicable United States securities laws, no solicitations are being made or will be made, directly or indirectly, in the United States. -
World Oil Outlook 2040
Organization of the Petroleum Exporting Countries 2019 World Oil Outlook 2040 2019 World Oil Outlook 2040 Organization of the Petroleum Exporting Countries Digital access to the WOO: an interactive user experience 24/7 OPEC’s World Oil Outlook (WOO) is part of the Organization’s commitment to market stability. The publication is a means to highlight and further the understanding of the many possible future challenges and opportunities for the oil industry. It is also a channel to encourage dialogue, cooperation and transparency between OPEC and other stakeholders within the industry. As part of OPEC’s ongoing efforts to improve user experience of the WOO and provide data transparency, two digital interfaces are available: the OPEC WOO App and the interactive version of the WOO. The OPEC WOO App provides increased access to the publication’s vital analysis and energy-related data. It is ideal for energy professionals, oil industry stakeholders, policymakers, market analysts, academics and the media. The App’s search engine enables users to easily find information, and its bookmarking function allows them to store and review their favourite articles. Its versatility also allows users to compare graphs and tables interactively, thereby maximizing information extraction and empowering users to undertake their own analysis. The interactive version of the WOO also provides the possibility to download specific data and information, thereby enhancing user experience. Download Access the OPEC WOO App interactive version Available for Android and iOS OPEC is a permanent, intergovernmental organization, established in Baghdad, Iraq, on 10–14 September 1960. The Organization comprises 14 Members: Algeria, Angola, Republic of the Congo, Ecuador, Equatorial Guinea, Gabon, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates and Venezuela. -
2020 Report on Saipem's Remuneration Policy and Paid
01-36RelRemSaipem20Ing.qxd 3-04-2020 19:19 Pagina I 2020 Report on Saipem’s Remuneration Policy and Paid Compensation APPROVED BY THE BOARD OF DIRECTORS ON MARCH 12, 2020 01-36RelRemSaipem20Ing.qxd 3-04-2020 19:19 Pagina II Mission Our mission is to implement challenging, safe and innovative projects, leveraging on the competence of our people and on the solidity, multiculturalism and integrity of our organisational model. With the ability to face and overcome the challenges posed by the evolution of the global scenarios, we must seize the opportunities to create economic and social value for all our stakeholders. OUR VALUES Innovation; health, safety and environment; multiculturalism; passion; integrity. COUNTRIES IN WHICH SAIPEM OPERATES EUROPE Albania, Austria, Bulgaria, Croatia, Cyprus, France, Germany, Greece, Italy, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Serbia, Spain, Sweden, Switzerland, Turkey, United Kingdom AMERICAS Argentina, Bolivia, Brazil, Canada, Chile, Colombia, Ecuador, Guyana, Mexico, Peru, United States, Venezuela CIS Azerbaijan, Georgia, Kazakhstan, Russia AFRICA Algeria, Angola, Congo, Egypt, Ghana, Libya, Morocco, Mauritania, Mozambique, Namibia, Nigeria, Senegal, South Africa, Tunisia, Uganda MIDDLE EAST Iraq, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates ESTREMO ORIENTE E OCEANIA Australia, China, India, Indonesia, Japan, Malaysia, Pakistan, Singapore, South Korea, Taiwan, Thailand, Vietnam 01-36RelRemSaipem20Ing.qxd 3-04-2020 19:19 Pagina 1 2020 Report on Saipem’s Remuneration -
Drilling for Data
Drilling for data A pragmatic perspective on demystifying digitization in oil and gas Contacts Beirut Houston Georges Chehade Reid Morrison Partner, Strategy& Middle East Principal, PwC US +961-1-985-655 +1-713-356-4132 [email protected] [email protected] Dallas London John Corrigan Adrian Del Maestro Principal, PwC US Director, PwC UK +1-214-746-6558 +44-79-0016-3558 [email protected] [email protected] Düsseldorf Milan Dr. Joachim Rotering Giorgio Biscardini Partner, PwC Strategy& Germany Partner, PwC Italy +49-211-3890-250 +39-02-72-50-92-05 [email protected] [email protected] David Branson Stavanger Executive Advisor, PwC Strategy& Germany Eirik Rasmussen +49-160-4906-431 Partner, PwC Norway [email protected] +47-9526-1193 [email protected] About the authors Reid Morrison leads PwC’s Eirik Rasmussen is a partner Adrian Del Maestro is a global energy advisory with PwC Norway. Based in specialist in oil and gas and practice. Based in Houston, Stavanger, he has more than the broader energy industry he is a principal with PwC US. two decades of experience for Strategy&, PwC’s strategy He has more than 25 years of as a strategy and business consulting business. He is a experience in the oil and gas advisor. He works with director at PwC UK based in industry and advises clients national and global oil and London, where he oversees on strategies to improve gas companies on business the firm’s global research operational and commercial management system and capabilities in energy. -
Equinor Detailed Assessment of Equinor’S Corporate Industry Association Review
April 2021 Equinor Detailed assessment of Equinor’s corporate industry association review April 2021 This document outlines a detailed breakdown of InfluenceMap's assessment of the company's corporate disclosure on industry association lobbying, using the traffic-light assessment framework summarized below. Further details on the assessment methodology is available in the Appendix, and in our April 2021 report here. Key Explanation Has broadly met investor expectations in this area. Has made some progress on investor expectations in this area, but with significant deficiencies. Has fallen short of investor expectations in this area. A summary of Equinor’s disclosures on industry associations is shown below. Equinor has published two reviews of its industry associations to date. The Review Score represents InfluenceMap’s overall assessment of the quality of the company’s industry association review process, where 100 would indicate that a company has met investor expectations for all criteria related to the review process. Date of Review Review Score March 2020 21 / 100 March 2021 29 / 100 This assessment is based on Equinor’s latest disclosure on industry associations and climate lobbying, which can be found here. InfluenceMap's online profile of Equinor, including access to the underlying data which forms this assessment, can be found here. Item Comment Corporate Equinor has disclosed top-line statements describing its top-line policy priorities (e.g. adopt climate carbon pricing, promote research and development, phase out fossil fuel subsidies). However, positions the company does not disclose its position on or engagement with specific climate policies. Industry group Equinor has disclosed the climate policy positions and influencing activities of three industry climate associations with “some” or “material” misalignment, but the company does not disclose any positions details of the climate positions of the 90 remaining “aligned” industry associations. -
Oil Price Reporting Agencies
Oil Price Reporting Agencies Report by IEA, IEF, OPEC and IOSCO to G20 Finance Ministers, October 2011 This Joint Report and the annexed report prepared by the consultants do not necessarily express the positions of the member countries of IEA, IEF, IOSCO, and those of OPEC and of the Governments they represent. IEA, IEF, IOSCO and OPEC assume no liability or responsibility whatsoever for the use of the data or analyses contained in this Joint Report or in that of the consultants, and nothing in either of these shall be construed as interpreting or modifying any legal obligations under intergovernmental and/or international agreement, treaty, law or other texts; or expressing any legal opinions or having probative legal value in any proceedings. 1 Executive Summary ................................................................................................. 3 Background to the report ........................................................................................ 6 Price Reporting Agencies (PRAs) and benchmark crudes .................................. 7 Transparency and reliability of price assessment process ................................... 8 Results of industry interviews ...............................................................................10 Potential for manipulation or collusion ..............................................................12 Impact of PRA assessments on global petroleum trade ...................................13 Impact of price reporter benchmarks on financial market transparency and functioning -
2019 Remuneration Report
01-30RelRemSaipem19IngN.qxd 9-04-2019 21:59 Pagina I 2019 Remuneration Report Approved by the Board of Directors on March 11, 2019 01-30RelRemSaipem19IngN.qxd 9-04-2019 21:59 Pagina II Mission Our mission is to implement challenging, safe and innovative projects, leveraging on the competence of our people and on the solidity, multiculturalism and integrity of our organisational model. With the ability to face and overcome the challenges posed by the evolution of the global scenarios, we must seize the opportunities to create economic and social value for all our stakeholders. Our values Innovation; health, safety and environment; multiculturalism; passion; integrity. Countries in which Saipem operates EUROPE Albania, Austria, Bulgaria, Croatia, Cyprus, Denmark, France, Germany, Greece, Italy, Luxembourg, Netherlands, Malta, Norway, Poland, Portugal, Romania, Serbia, Spain, Sweden, Switzerland, Turkey, United Kingdom AMERICAS Argentina, Bolivia, Brazil, Canada, Chile, Colombia, Ecuador, Guyana, Mexico, Peru, United Stat es, Venezuela CIS Azerbaijan, Georgia, Kazakhstan, Russia, Turkmenistan AFRICA Algeria, Angola, Congo, Egypt, Gabon, Ghana, Libya, Morocco, Mozambique, Namibia, Nigeria, South Africa, Tunisia, Uganda MIDDLE EAST Iraq, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates FAR EAST AND OCEANIA Australia, China, India, Indonesia, Japan, Malaysia, Pakistan, Singapore, South Korea, Taiwan, Thailand, Vietnam 01-30RelRemSaipem19IngN.qxd 9-04-2019 21:59 Pagina 1 2019 Remuneration Report Letter from the Chairman of the Compensation -
Equinor ASA Capital Markets Day on June 15, 2021 / 9:30AM
REFINITIV STREETEVENTS EDITED TRANSCRIPT EQNR.OL - Equinor ASA Capital Markets Day EVENT DATE/TIME: JUNE 15, 2021 / 9:30AM GMT REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us ©2021 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 15, 2021 / 9:30AM, EQNR.OL - Equinor ASA Capital Markets Day CORPORATE PARTICIPANTS Al Cook Equinor ASA - Executive VP of Exploration & Production International (EPI) Anders Opedal Equinor ASA - President & CEO Carri Lockhart Equinor ASA - EVP of Technology, Digital & Innovation (TDI) Irene Rummelhoff Equinor ASA - EVP of Marketing, Midstream & Processing Kjetil Hove Equinor ASA - EVP of Exploration & Production Norway Pål Eitrheim Equinor ASA - EVP of Renewables (REN) Peter Hutton Equinor ASA - SVP of IR Svein Skeie Equinor ASA - Acting Executive VP & CFO CONFERENCE CALL PARTICIPANTS Alastair Roderick Syme Citigroup Inc. Exchange Research - Research Analyst Anders Torgrim Holte Kepler Cheuvreux, Research Division - Equity Research Analyst Biraj Borkhataria RBC Capital Markets, Research Division - Director, Co-Head of European Energy Research Team & Lead Analyst Christyan Fawzi Malek JPMorgan Chase & Co, Research Division - MD and Head of the EMEA Oil & Gas Equity Research James Richard Hubbard Deutsche Bank AG, Research Division - Research Analyst Jason S. Kenney