October November 2014 Underwater Vehicles Positioning

Total Page:16

File Type:pdf, Size:1020Kb

October November 2014 Underwater Vehicles Positioning UT3 October November 2014 Underwater Vehicles Positioning 1 THE MAGAZINE OF THE SOCIETY FOR UNDERWATERUT2 October TECHNOLOGY November 2014 2 UT2 October November 2014 Contents August September 2014 UT2 October November 2014 Underwater Vehicles Positioning 1 THE MAGAZINE OF THE SOCIETY FOR UNDERWATERUT2 October TECHNOLOGY November 2014 The G1200 vessel working in the Juniper field Image: Technip Vol 9 No 5 Society for Underwater Technology 1 Fetter Lane London EC4A 1BR +44 (0) 1480 370007 Editor: John Howes [email protected] Editorial Assistant: Roland Soup Sub Editor Laura Howes Production: Sue Denham ISSN: 1752-0592 Published by UT2 Publishing for and on behalf of the Society for Underwater Technology. Reproduction of UT2 in whole or in part, without permission, is prohibited. The publisher and the SUT assumes no responsibility for unsolicited material, nor responsibility for content of any advertisement, particularly 3 infringement of copyrights, trademarks, intellectual property rights and patents, nor liability for misrepresentations, false or misleading statements and illustrations. These are the sole responsibility of the advertiser. Opinions of the writers are not necessarily those of the SUT or the publishers. UT2 October November 2014 Contents News 6 Vessels 20 Cables 35 Mooring 40 Positioning 42 Submersibles 58 4 UT2 October November 2014 Safety 30 Trees 32 Positioning 42 Expedition 46 ROVs 50 SUT 74 UT2 University 76 5 UT2 October November 2014 Sapinhoá The FPSO Cidade de Ilhabela has been mobilised prior to starting work on the Sapinhoá (originally called Guará) pre-salt cluster in the Santos Basin. It will be anchored 310km off the coast of Rio de Janeiro in a water depth of 2140m. It will be connected to eight production and News seven injector wells. The vessel is capable of producing up to 150 000b/d oil and compressing up to 6 million m3 of gas. It can store 1.6 million barrels of oil and inject 180 000 barrels of water per day. BHP Billiton and Pemex BHP Billiton has signed a memorandum of understanding The FPSO is owned and will be operated by joint venture (MOU) and cooperation with Pemex for the exchange partners SBM Offshore, Queiroz Galvão and Mitsubishi of technical knowledge, information, experiences and under a 20 year lease contract for Petrobras. practices in activities related to the oil and gas industry. FMC “We see considerable opportunity in Mexico following the FMC Technologies has received an order for five recent economic reforms, and we are excited about the subsea manifolds from Petrobras for its Brazilian pre- extension of the Paleogene play into the Perdido play,” said salt fields. The order represents the balance of the 16 BHP Billiton Petroleum and Potash President, Tim Cutt. subsea manifolds under a frame agreement signed in 2013. In total, FMC has received orders for 19 subsea “Shenzi is an excellent example of what we can do and manifolds for Petrobras’ pre-salt fields. Engineered the deep water capacity we possess within our offshore and manufactured in Brazil, the subsea manifolds are organisation. BHP Billiton’s drilling rig, Deepwater Invictus, scheduled for delivery beginning in 2015. arrived in the Gulf of Mexico in May 2014.” GE Awarded $300M Contract Cameron GE has won a $300 million contract with Petrobras Cameron has selected AUMA as a technology partner in for the first supply of the subsea manifold systems for developing the LEDEEN line of electric actuation offerings Brazil’s pre-salt fields, located offshore in water depths for the worldwide oil and gas industry. up to 2000m (6500ft). This partnership will help complete Cameron’s valve This award includes eight manifolds designed automation actuation product portfolio, providing with retrievable injection modules to allow water- customers with total package solutions, including LEDEEN alternated gas injection for up to four wells and system electric, electrohydraulic, pneumatic, hydraulic, direct gas, integration with subsea controls. The equipment will be gas-over-oil, subsea, and compact actuators. manufactured in Brazil. Acteon Acquires UTEC Aker Acteon has acquired the independent survey services Aker Oilfield Services (AKOFS) has won a 5-year company, UTEC Survey. It generated revenues in excess contract worth US$465 million from Petrobras to provide of $84 million in 2013. subsea intervention services offshore Brazil from the Aker Wayfarer vessel. The contract will start within the The company has said that the acquisition enhances its fourth quarter of 2016. ability to serve tier one contractors and oil companies which require comprehensive external support for The Aker Wayfarer vessel will be outfitted at a yard in their assets in terms of data gathering, analysis and Norway to become a deepwater subsea equipment interpretation, in order to operate competitively in the support vessel (SESV). It will have a fibre-rope integrity and maintenance fields. deployment system, deck skidding systems and a subsea orientation equipment system, allowing it to Xodus Subsea install and retrieve subsea trees and modules, including Saipem has joined forces with Xodus Group and Chiyoda subsea structures and manifolds. to establish a standalone company, named Xodus Subsea, with the objective to support the growing activity in the The Aker Wayfarer will be the second vessel of this type subsea fields development sector. operated by AKOFS in Brazil. The Skandi Santos has performed SESV services successfully for Petrobras Xodus Subsea will provide studies, engineering and since starting operations in March 2010. At the end of consultancy services focusing mainly on the early phase September, AKOFS became part of Akastor. of the projects, such as front end engineering, conceptual studies, and basic design. EMAS AMC EMAS AMC has been awarded a three-year frame Penspen agreement with Apache North Sea for offshore Penspen has acquired the engineering division of DPS 6 construction services. This includes pipeline Group. The acquisition significantly strengthens Penspen’s construction, umbilical/cable lay, structure installation oil and gas process facilities engineering capability, and and other typical related offshore construction services. brings access to the FPSO construction market in Asia For rigid pipeline work EMAS AMC will use their state of Pacific. The purchase includes all DPS engineering staff the art spool base, currently being established at Halsvik based in Singapore and Bristol. in Norway. Last August, EMAS AMC announced a number of project wins worth close to US$110 million, including UT2options. October November 2014 surveillance hours. Real-time condition monitoring. OneSubsea FRIEND: optimizing equipment performance to maximize production As the leader in surveillance and monitoring of subsea pumps for eight years, the OneSubsea™ FRIEND™ Remote Surveillance and Diagnostic System provides real-time AD00642OSS condition monitoring to extend the life of your equipment. Currently, OneSubsea monitors more than 40,000 quality parameters from more than 100 different subsea systems worldwide. Our monitoring portfolio includes pumps and subsea processing systems, subsea trees and production systems, multiphase meters, and swivel and marine systems. Increased availability. Reduced intervention costs. Proven reliability. The FRIEND system enables a proactive service approach to continued optimal equipment performance, 7 improved lifespan and reduced operational costs. Visit www.onesubsea.com/increasedavailability UT2 October November 2014 ONESUB-236_Friend Ad_UT2.indd 1 8/1/14 5:28 PM The scope of work for the projects include the transport and installation of subsea structures in Africa, inspection, maintenance and repair work in the Gulf of Mexico, as well as support services for a deep-water project with an oil major in the Asia Pacific. 2H HMC 2H Offshore has been appointed by Heerema Marine Contractors (HMC) to engineer hybrid risers for Total’s Kaombo Block 32 project. HMC, together with consortium partner Technip, were awarded the contract News for the EPCI and pre-commissioning of the SURF scope for the development by Total. Kaombo, located offshore Angola in water depths extending from 1425m to 1925m, will include the Bukit Tua Gindungo, Gengibre, Canela, Louro, Mostarda west and Caril fields tied back to two turret-moored McDermott has been awarded the FPSOs. The selected concept consists of a number of transportation, installation and pre- production loops with one insulated production riser commissioning contract by PETRONAS for the and one non-insulated service riser per field. Water Bukit Tua Development Project in the Ketapang injection risers will also be required. block of East Java, Indonesia. Bukit Tua field is located approximately 21 miles from Madura The project is currently in the detailed engineering Island, in approximately 190ft of water. stage with 2H also contracted to support HMC through the procurement, fabrication and installation phases. “This is the second award we have received related to the Bukit Tua Development this Troubador and Glenlivet year,” said Hugh Cuthbertson, Vice President FMC Technologies has received an order from Total to and General Manager, Asia Pacific. supply subsea systems for its Edradour and Glenlivet fields offshore in the West of Shetland area. “We are currently fabricating the 1212t BTJT-A wellhead jacket at our Batam Island fabrication FMC Technologies’ scope of supply consists of facility in Indonesia, where construction work subsea equipment including manifolds
Recommended publications
  • BP Executive: True Test of Downturn Will Come During Recovery
    2016.otcnet.org Tuesday, May 3 | Houston, Texas | THE OFFICIAL 2016 OFFSHORE TECHNOLOGY CONFERENCE NEWSPAPER | DAY 2 BP Executive: True Test Fiery Ice of Downturn Will Come Takes Center During Recovery Stage n Leading experts to discuss advances n Energy demand is expected to increase by one-third by 2035, but oil and gas in E&P testing of gas hydrates during companies need to start looking at hydrocarbons as products to streamline. Wednesday luncheon. BY DARREN BARBEE “It’s how we will improve through BY JENNIFER PRESLEY the productivity of our oil sector and magine the oil and gas world as an assembly line, put costs on a downward curve.” t is the ice that burns, and it is more than an industrial Ichurning out cubes of oil and natural gas. Assem- For instance, BP’s Mad Dog Ihazard plugging pipelines. It goes by many names—fire bly lines are efficient. Changes mean swapping out Phase 2 project in the Gulf of Mex- in the ice or fiery ice being two of the more popular descrip- one part—not the entire system. Industrial and avia- ico went through about $10 billion tors. Gas hydrate is the curious clathrate formed by natural tion companies typically cut costs annually. But on the in cost trims, Looney said. gas and water. Found in the Arctic and in the deepwater hydrocarbon conveyor belt, cost efficiency doesn’t seem “This was a $20 billion project, continental margins around the globe, the energy poten- to follow any logical pattern. Bernard Looney and we’ve brought it down to under tial of this other unconventional hydrocarbon is keeping “In oil and gas, specifically the upstream, costs as we $10 billion with expected returns researchers busy unlocking its secrets to better understand know tend to follow oil price and in general have trended improved despite a lower oil price,” he said.
    [Show full text]
  • BP Mad Dog 2
    Mad Dog 2 production pipeline end terminal BP Mad Dog 2 OUR PROJECT Field Information VALUES CLIENT Project at a glance The Mad Dog field is located approximately 190 miles offshore in the Southern Green BP The contract scope awarded to Subsea 7 covers engineering, procurement, Canyon area of the Gulf of Mexico (GOM). Mad Dog is a deep-water field in a water depth construction and installation (EPCI) of the subsea umbilicals, risers and flowlines ranging from approximately 1,370m - 2,200m. Oil reserves have been discovered within Safety (SURF) and associated subsea architecture. the existing Mad Dog field that are outside the reach of the existing Spar drilling rig and Schlumberger OneSubsea, Subsea 7's Subsea Integration Alliance partner, has been therefore new subsea and surface facilities are required to exploit the new reserves. awarded the Subsea Production Systems contract. Source: Modified from BP.com Full project information overleaf Integrity Highlights • First substantial project in the US • Multi-centre project with project Sustainability to use Subsea 7’s Swagelining management and engineering polymer lining technology. taking place in Houston, Texas with • First project to install in-house support from Subsea 7’s Global Performance designed steel lazy wave riser Project Centres in London and Paris. systems. Pipeline fabrication and Liner support supplied from Glasgow, Scotland. • The lazy wave risers will be wet stored onto the seabed and then • Delivered in close collaboration with Collaboration recovered and hung off onto Schlumberger OneSubsea, Subsea 7's the FPU following tow-out and Subsea Integration Alliance partner. mooring. Innovation Our Differentiators Culture Creativity Relationships Reliability Solutions www.subsea7.com© Subsea 7, February 2019.
    [Show full text]
  • Subsea Sampling Systems MARS Multiple Application Reinjection System Configurations
    Subsea Sampling Systems MARS multiple application reinjection system configurations APPLICATIONS Almost all technical and economic studies in the oil industry require an understanding of the reservoir ■ Production monitoring fluids. MARS* multiple application reinjection system sampling technology enables the capture of ■ Reservoir modeling and management a representative, uncontaminated sample from multiphase flow, in which the sample has the same molecules in the same proportions as the flow at the sampling point where all three phases are ■ Flow assurance in equilibrium. ■ Well intervention ■ Each phase is enriched and captured individually to collect sufficient volume of sample from ■ Subsea processing strategically chosen phase-rich sampling points. ■ EOR ■ No pressure or temperature drop should occur during sampling to maintain equilibrium BENEFITS between phases. ■ Enables representative subsea sampling ■ Each phase is captured and physically or mathematically recombined for reservoir fluids properties. throughout life of field ■ Mitigates risk and enhances flow assurance management ■ Optimizes multiphase flowmeter calibration and performance ■ Increases production and recovery rates ■ Reduces capex FEATURES ■ Flexibility for integration into subsea hardware and for various sampling applications ■ Three-phase representative sampling from multiple wells in a single dive ■ Phase detection and enrichment ■ Complete chain of custody throughout sample journey ■ Proven technology ■ Ideal solution for greenfield architecture ■ Retrofit
    [Show full text]
  • Comparing the Dutch and British Maritime Technologies During the Napoleonic Era (1792–1815)
    Technology and Empire: Comparing the Dutch and British Maritime Technologies during the Napoleonic Era (1792–1815) By Ivor Mollema December, 2015 Director of Thesis: Dr. Lynn Harris Major Department: History The two ships, Bato (1806) and Brunswick (1805) wrecked in Simons Bay, South Africa, provide an opportunity to compare British and Dutch maritime technologies during the Napoleonic Era (1792–1815). The former was a Dutch 74-gun ship of the line and the latter a British East Indiaman. Their remains reveal pertinent information about the maritime technologies available to each European power. Industrial capacity and advanced metal working played a significant role in ship construction initiatives of that period, while the dwindling timber supplies forced invention of new technologies. Imperial efforts during the Napoleonic Era relied on naval power. Maritime technologies dictated imperial strategy as ships were deployed to expand or maintain colonial empires. Naval theorists place the strategy into a wider spectrum and the analysis of the material culture complements further understanding of sea power. The study also recommends management options to preserve the archaeological sites for future study and to showcase for heritage tourism. TECHNOLOGY AND EMPIRE: Comparing Dutch and British Maritime Technologies During the Napoleonic Era (1792–1815) Title Page A Thesis Presented To The Faculty of the Department of History East Carolina University In Partial Fulfillment Of the Requirements for the Degree Master of Arts, Program in Maritime Studies by Ivor Mollema December, 2015 © Ivor Mollema, 2015 Copyright Page TECHNOLOGY AND EMPIRE: Comparing Dutch and British Maritime Technologies During the Napoleonic Era (1792–1815) by Ivor Mollema Signature Page APPROVED BY: DIRECTOR OF THESIS: ________________________________________________________ Dr.
    [Show full text]
  • Pre-Conference Ice Breaker, Monday 22Th October
    Subsea Controls Down Under Conference 2018 Post-event Report By Ian Wilson, SUT Perth Branch Committee Member Pre-Conference Ice Breaker, Monday 22th October At 6pm delegates boarded the Crystal Swan for a cruise on the Swan river. Rob Bush of Yokogawa Australia opened the conference with a welcome address. Everyone enjoyed an evening of networking, canapes and drinks before disembarking at 9pm for some rest. SCDU 2018 Post-event Report 1 of 24 | P a g e Day ONE Tuesday 23rd October 2018 0915 Welcome by Rex Hubbard, SUT Perth Branch Vice Chairman Rex acknowledged our Major Sponsors: Viper Innovations and Woodside Energy, Ice Breaker sponsor, Yokogawa Australia and Event Partners, One Subsea, Pressure Dynamics and Shell Australia. It was mentioned we had 106 participants from 8 different countries and 20% from Opcos. The Conference Theme is “Technology, Reliability & Availability through Collaboration” 0925 Welcome to Country by Irene Stainton, INPEX SCDU 2018 Post-event Report 2 of 24 | P a g e Session A - Chaired by Ross Hendricks, TechnipFMC 0935 Keynote presentation by Miranda Taylor, CEO NERA “Cluster isn’t a dirty word: How innovative business models are changing the collaboration in landscape across Australia’s energy resources sector” Australia does not have a track record for commercialization of new technology, NERA want to change that. Australia needs a cultural change to gain the benefits of collaboration around innovation. Two innovation drivers are AI and big data. Australia does great things, but we fail to co-ordinate these
    [Show full text]
  • The Bedlam Stacks Natasha Pulley
    JULY 2017 The Bedlam Stacks Natasha Pulley An astonishing historical novel set in the shadowy, magical forests of South America, which draws on the captivating world of the international bestseller The Watchmaker of Filigree Street Description An astonishing historical novel set in the shadowy, magical forests of South America, which draws on the captivating world of the international bestseller The Watchmaker of Filigree StreetIt would have been a lovely thing to believe in, if I could have believed in anything at all.In 1860, Merrick Tremayne is recuperating at his family's crumbling Cornish estate as he struggles to recover from an injury procured on expedition in China. Dispirited by his inability to walk any futher than his father's old greenhouse, he is slowly coming round to his brother's suggestion that - after a life lived dangerously - he might want to consider a new path, into the clergy.But when the East India Trading Company coerces Merrick in to agreeing to go on one final expedition to the holy town of Bedlam, a Peruvian settlement his family knows well, he finds himself thrown into another treacherous mission for Her Majesty, seeking valuable quinine from a rare Cinchona tree. In Bedlam, nothing is as it seems. The Cinchona is located deep within a sacred forest where golden pollen furls in the air and mysterious statues built from ancient rock appear to move. Guided by the mysterious priest Raphael, who disappears for days on end into this shadowy realm, Merrick discovers a legacy left by his father and grandfather before him which will prove more valuable than the British Empire could ever have imagined.
    [Show full text]
  • 2020 Annual Report Schlumberger Limited
    2020 Annual Report Schlumberger Limited 45507schD1R2.indd 1 2/19/21 8:20 AM CONTENTS Safety Sustainability 2 LETTER TO SHAREHOLDERS 4 AN EVOLVING ENERGY INDUSTRY 4 The Performance Strategy 11 A Global Reach Equipping Basins for Success ESG Rating 12 PERFORMANCE IN PRACTICE 12 Our Safety and Service Quality Commitment 15 Focus on People Improvement B 18 OPPORTUNITIES IN THE ENERGY TRANSITION 18 Environmental Performance 18 Decarbonizing Oil and Gas Operations 22 Schlumberger New Energy TRIF (Total Recordable Injury Frequency) 2019 2020 CDP Climate Change Directors, Officers, and Corporate Information Inside Back Cover Service Quality Financial Schlumberger (SLB: NYSE) is a technology company Improvement † that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all. and Serious Events Major, Catastrophic, per million work-hours Find out more at slb.com †For a reconciliation of adjusted EBITDA to loss before taxes on a GAAP basis, see our fourth-quarter and full-year 2020 results earnings press release at investorcenter.slb.com/node/22541/html (pp. 19–20). Schlumberger Limited | 2020 Annual Report Our Resilience, Driving Performance 1 45507schD1R3.indd 2 45507schD2R3.indd 1 2/20/21 2:32 PM 2/20/21 2:15 PM LETTER TO SHAREHOLDERS Looking back on 2020, I would like to reflect on what this year meant for Schlumberger—a year that brought incredible challenges, but during which we achieved much and laid a strong foundation for our future success—through resilience and strategic execution.
    [Show full text]
  • The Canterbury Association
    The Canterbury Association (1848-1852): A Study of Its Members’ Connections By the Reverend Michael Blain Note: This is a revised edition prepared during 2019, of material included in the book published in 2000 by the archives committee of the Anglican diocese of Christchurch to mark the 150th anniversary of the Canterbury settlement. In 1850 the first Canterbury Association ships sailed into the new settlement of Lyttelton, New Zealand. From that fulcrum year I have examined the lives of the eighty-four members of the Canterbury Association. Backwards into their origins, and forwards in their subsequent careers. I looked for connections. The story of the Association’s plans and the settlement of colonial Canterbury has been told often enough. (For instance, see A History of Canterbury volume 1, pp135-233, edited James Hight and CR Straubel.) Names and titles of many of these men still feature in the Canterbury landscape as mountains, lakes, and rivers. But who were the people? What brought these eighty-four together between the initial meeting on 27 March 1848 and the close of their operations in September 1852? What were the connections between them? In November 1847 Edward Gibbon Wakefield had convinced an idealistic young Irishman John Robert Godley that in partnership they could put together the best of all emigration plans. Wakefield’s experience, and Godley’s contacts brought together an association to promote a special colony in New Zealand, an English society free of industrial slums and revolutionary spirit, an ideal English society sustained by an ideal church of England. Each member of these eighty-four members has his biographical entry.
    [Show full text]
  • Mce Deepwater Development 2016
    MCE DEEPWATER DEVELOPMENT 2016 5-7 APRIL, 2016 Managing the Downturn PALAIS BEAUMONT Through Cost Reductions Collaborating to Realize PAU • FRANCE Economic Benefits WWW.MCEDD.COM Hosted by: SHOW PROGRAM Organized by In Partnership with Supported by Host Letter of Support Release Date: 9 November, 2015 Dear Colleaues, TOTAL RÉFÉRENCES COULEUR TOTAL_brand_block_CMYK The uniue dynamics of our current down cycle in the glo30/01/2014bal oil and gas industry reuires a structural 24, rue Salomon de Rothschild - 92288 Suresnes - FRANCE Tél. : +33 (0)1 57 32 87 00 / Fax : +33 (0)1 57 32 87 87 M100% Y80% Web : www.carrenoir.com M48% Y100% M100% Y80% and fundamental shift in the way we develop our offshore, and spC100%e cM80%ifically deepwater, discoveries. K70% C70% M30% While continuously aiming at improvin industry safety objectives, our common objective is to reduce costs sinificantly in order for deepwater to remain competitive. This will only be achieved thou a step chance in efficiency which reuires reinforced industry collaboration and innovative technologies. MCE Deepwater Development is a leadin industry event focused on brinin together the strategic decision makers within the deepwater oil and gas market. Throu a focused tecnical program, creative networkin opportunities and a comprehensive exhibition hall, the event creates a uniue opportunity for these members of industry to engage in critical dialoue around the future of our industry. Considerin current market conditions and the lon established reutation of MCE Deepwater Development, Total is pleased to host the 2016 event in Pau, France, 5-7 April 201. As a key operator in deepwater oil and gas, Total looks forward to taking full advantage of the opportunities provided durin MCE Deepwater Development.
    [Show full text]
  • Research & Development
    RESEARCH & DEVELOPMENT, AN INTERNATIONAL NETWORK TOTAL RESEARCH CENTRE – STAVANGER R&D IN FIGURES HOUSTON RIO DE JANEIRO CSTJF PERL ABERDEEN STAVANGER DOHA R&D, (United States) (Brazil) (France) (France) (United Kingdom) (Norway) (Qatar) THE WORLD IS OUR LABORATORY Our research organization spans the globe. Basing our specialized Research Centres and teams strategically near the regional hubs of the oil & gas industry gives us access to these regions and projects our image of R&D excellence around the world. In full synergy with the nerve centre of Total E&P’s R&D at the Centre Scientifique et Technique Jean-Féger (CSTJF) in southwest France, these researchers are part of a multi-disciplinary network of teams working on strategic R&D programs and themes, crucial for Total’s competitiveness. Our international network and the close ties we have forged with leading-edge public and private research bodies enable us to tap into the academic and industrial expertise available 300 25 in each region. This open innovation strategy helps us RESEARCHERS NATIONALITIES access the most promising scientific and technological NEARLY 340 PATENT FAMILIES advances that we can leverage to deliver tomorrow’s REPRESENTING SOME breakthrough technologies a step ahead of our peers. 1,700 Our Research Centre in Stavanger, Norway, has enjoyed rapid PATENTS FILED growth, fostering highly efficient partnerships with industrial ALL AROUND 10 THE WORLD DISRUPTIVE consortiums and universities in some of the world’s most 2 9,000 m TECHNOLOGIES crucial R&D programs, that will keep Total ahead in our OF LABORATORY FIELD-TESTED EACH YEAR commitment to produce better energy.
    [Show full text]
  • Impact of Covid-19 on Indian PETROLEUM Sector and Recovery
    Feedback Advisory Covid-19 Series Im p a c t of Covid-19 on Indian PETROLEUM Sector and R e c ov e r y Thereof A large part of this fall in prices out of sync, as Saudi Arabia & Global Crude Oil can be attributed to the diminished Russia had been refusing to back industrial activity, reduction in global down crude oil production in a prices during this air travel, and the drastic fall in bid to capture market share in the automobile use under the lockdown already flooded market. However, pandemic are among conditions. This has driven the with production control agreement demand for the popular fuels, such being reached between the two the lowest that have as petrol & diesel, ATF and industrial oil-producing giants on April 9, fuels & oils into the ground. prices are expected to stabilize, been seen in decades These problems were exacerbated if not increase in the near future. by the supply side dynamics being For a good part of the last one and a half years, crude oil price was hovering between US$ 60 – US$ 70 per bbl. Opposing forces of OPEC and Shale The falling crude oil prices have drillers had kept the price range bound during this period. While OPEC was trying to maintain failed to spark joy in the Indian the price above US$ 60 per bbl through supply cuts, possibilities of Shale gas flooding the market petroleum industry as the reduced above US$ 70 per bbl kept the oil price in check. However, Global crude oil prices have been in demand for fuels is hitting the OMCs’ a free fall ever since the Covid-19 spread has reached pandemic proportions affecting the major economic centres around the world, including IOC 8.0 Europe & USA.
    [Show full text]
  • Oil & Gas Journal
    MAR. 4, 2019 | USD 15 International Petroleum News and Technology | www.ogj.com CAPITAL SPENDING UPDATE US OLEFINS UKRAINE OFFERS NEW PSAS IEA UPDATES EOR PROJECTS, OUTPUT IMPROVING NAPHTHA CRACKING MARCELLUS-UTICA OPTIONS 190304OGJc1-c5.indd 1 2/26/19 3:08 PM Oilwell Supply North Sea Cables Norge AS Texas Mill Supply United Distribution Capital Valves National Supply Wallace Company Machine Tools Supply Bovaird Supply MacLean Electrical Union Supply Wilson Supply Midco Odessa Pumps & Equipment Republic Supply Continental EMSCO Highland Pump & Supply Colorado Valve & Controls DOSCO/TS&M Van Leeuwen USA Texas Oil Works CE Franklin HOMCO Supply Mannesmann International Alloys Power Service Inc. OAASIS Group Rye Supply Tyler Dawson Energy Delivered.™ Dupré Supply Challenger Industries, Inc. Since 1862, a diverse legacy of quality companies has gathered strength and now Mid-Valley Supply S&D Supply stands as the single global source for energy industry products, market-focused applications Mid-Continent Supply and total supply chain solutions. DNOW has the unmatched scope and scale to never stop delivering value so clients can accelerate their businesses and surpass their goals. DISTRIBUTIONNOW.COM © 2019 DistributionNOW. All rights reserved. DistNow_OGJ_190304 1 2/18/19 10:50 AM 190304OGJc1-c5.indd 2 2/26/19 3:09 PM CONTENTS Mar. 4, 2019 Volume 117.3 GENERAL INTEREST SPECIAL REPORT CAPITAL SPENDING UPDATE IEA: Crude oil quality matters amid lower supply Growth of US upstream 26 spending to decelerate in 2019 Conglin Xu Queensland’s CSG-LNG
    [Show full text]