Oil & Gas Industry Recent Developments

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Oil & Gas Industry Recent Developments"

Transcription

1 Oil & Gas Industry Recent Developments By Dr. Hilmar R. Zeissig Houston International Business Corp. For RIAS BERLIN COMMISSION U.S. Energy Program in Texas Houston, Texas, April 27, 2015

2 Typical Downstream Petroleum Supply Chain

3 Differences between Upstream and Downstream Petroleum Upstream petroleum (exploration & production) is a high risk business with big budgets and a romance factor Downstream petroleum (refining & distribution) is a commodity business, same as supply of car tires or computer batteries. Upstream employs highly trained geologists, geophysicists, petroleum engineers, specialized economists, accountants, IT technicians etc. Downstream, except refining, just needs traders, maintenance technicians, truck driver and cashiers. Upstream requires long-term, large investments, economies of scale, diversification and distribution of risks. Downstream investment can be limited to a few installations and operations with targeted investment and normal operating expense. Upstream has the potential of enormous windfall profits if successful. Downstream has limited profit margins as any trading business.

4

5

6 Petroleum Products Characteristics and Typical Use Crude Oil First refinery in 1861 There are other products and byproducts from refining. Natural Gas No refining Distributed by urban pipeline or as compressed or liquefied natural gas (LNG & CNG).

7 History of Texas Oil & Gas Industry Explorers landing in Texas in 1543 used asphalt floating on rivers to caulk their ships. Mineral Rights to oil, gas, water and other minerals are private property and NOT government owned. First producing oil well in Nacogdoches in 1866 supplied lamp oil. World s largest oil field, Spindletop near Houston, discovered In Texaco and Gulf Oil Corporation formed in Houston Ship Channel opened in 1914 attracting refineries and tank farms. In the 1940s Texas dominated world petroleum markets like OPEC today. In 1950 Zapata Oil Co. founded by George H. W. Bush and Liedtke brothers. 1919

8 It s all about $$$$$ More than 1/2 of all US land rigs are drilling in Texas Texas produced 18% of US oil from 155,654 wells and 27% of US gas from 91,757 gas wells (2013) jobs related to oil & gas, but only 4% of total work force. Houston has 13% of US refinery capacity and 45% of US petrochemical capacity, making it the largest petrochemical manufacturing center in the world. Economy of Houston and Texas very big and diversified, therefore, low oil prices have less impact than in other producing states.

9 World Petroleum Market

10 World Energy Consumption Oil Production

11 Local and Geopolitical Aspects Local end-user prices of petroleum products are effected by: Market size, economies of scale and cost of transportation Different levels of various taxes by central and local governments Degree of competition or protection for domestic suppliers Efficient monitoring and enforcement of legal framework Transparence/disclosure of end-user prices and other industry data Impact of recent increase of US domestic production: US oil production of 9.5 mbpd highest since 1970 US importing 32% less oil than in % less imports from Saudi Arabia than in x more oil imported from Canada than from Saudi Arabia Much less political leverage by Saudi and OPEC Example: Iran-US nuclear deal impossible a few years ago

12 Natural Gas Prices U.S. gas market split between NYMEX financial (futures) market at the Henry hub in Louisiana, physical market price paid for actual sales at individual delivery points in the U.S. European prices are oil-indexed, reset 6-9 months imports from Russia, Norway, and Netherlands over 80% pegged to fuel oil. imports from Algeria linked 70% to basket of oil products.

13 Natural Gas Processing

14 Natural Gas for Transportation CNG Station USA: 602 public access CNG filling stations and 633 private access stations. CNG and LNG public access stations expanding rapidly. By 2015 federal and many state agencies shall purchase NGVs. In 2014 railroad CSX will be testing trains running on LNG or diesel. CNG delivered by pipeline, LNG by tanker trucks. Modern NGVs can run on CNG/LPG or gasoline. Higher upfront cost of Natural Gas Vehicles (NGV). 1 gal CNG is $2.00 cheaper than diesel, LNG is $1.00 cheaper. Tax incentive and rebates for NGV in many states. LNG Station

15 Hydraulic Fracturing of a Horizontal Gas Well

16 Contrary to environmentalists assertations: Ground water reservoirs are shallow, protected from the much deeper oil/gas reservoirs by impenetrable formations. They are not contaminated by fracking, but by bad cementing and other operational mistakes in the vertical bore hole.

17 Fracking Regulation Fracking has been done for more than 50 years. I personally was responsible for fracking deep gas wells in South Texas When the shale boom started local municipalities, mainly at the US East coast, prohibited it without any technical evaluation. Environmental Protection Agency did intensive studies, does not oppose fracking, but requires strict safety rules. States like Texas have had those rules for a long time. Chemicals used for fracking (0.45% only) need to be revealed to special website FracFocus. Germany issued new rules which practically prohibit fracking, obviously for political reasons and not based on sound technical data. Recently the EU announced that fracking should be allowed under adequate safety rules which is a reasonable decision. Governor of New York prohibited fracking and basically all oil & gas drilling in Nov while his experts found the respective studies inconclusive. Voters in Denton County, Texas prohibited fracking not because of safety reasons, but because of the oil boom s impact on their lives. Now debated in Legislature. In March 2015 US Dept. of Interior issued new rules for Federal lands (10% of total): - companies to submit detailed information about wells, including faults, fractures, volume of fluid to be used and chemical components; - boreholes to be reinforced to prevent water leakage.

18 Keystone XL Pipeline from Canada s oil sand production to Texas refineries 3,456 km long mio bbl/d capacity cost: US$7 billion Planned since 2005, approved by Canada authorities in 2010 Construction in phases by TransCanada et al 2010 US rejects application; positive EIA published in 2011 Jan Nebraska Supreme Court clears construction US Congress approves by law Jan. 2015, but vetoed by Obama Arguments pro: US energy security, less imported oil, many new jobs and expansion of refining industry Arguments contra: Risk of oil spills, higher greenhouse gas emissions from oil sands compared to conventional oil ALTERNATIVE: Continued transport by railways, all owned by BNSF (Warren Buffet, major donor for democrats) Cost: 30 $/bbl on rail - 10 $/bbl by pipeline Historically risk of spills by rail much higher than pipeline Canada could export to other countries by pipeline to Pacific

19

Mr. Chairmen, Members of the Subcommittees.

Mr. Chairmen, Members of the Subcommittees. Testimony of Mr. Andrew Littlefair President & CEO Clean Energy Fuels Before the Subcommittee on Select Revenue Measures and the Subcommittee on Oversight House Committee on Ways & Means September 22,

More information

Challenges and Opportunities for Small Businesses Engaged in Energy Development and Energy Intensive Manufacturing

Challenges and Opportunities for Small Businesses Engaged in Energy Development and Energy Intensive Manufacturing Statement of Toby Mack, EEIA President, Before the U.S Senate Committee on Small Business and Entrepreneurship July 14, 2015 Challenges and Opportunities for Small Businesses Engaged in Energy Development

More information

Oil and Gas U.S. Industry Outlook

Oil and Gas U.S. Industry Outlook Oil and Gas U.S. Industry Outlook VERSION 01 YEAR 13 OUTLOOK: Positive fundamentals & outlook www.eulerhermes.us Key points WTI Crude is expected to continue to converge to Brent crude prices, narrowing

More information

The Future of Energy in Louisiana! March 2014

The Future of Energy in Louisiana! March 2014 The Future of Energy in Louisiana! March 2014 1! GNO, Inc. Overview! GNO, Inc. is the economic development organization serving the ten parishes of Southeast Louisiana.! Logo! Business Development! Business

More information

Integrated Oil Companies

Integrated Oil Companies Integrated Oil Companies Loretta Bu Zhou Fang Suvayan Roy Patrick He Artur Shikhaleev Yang Zeng 1 Key Questions 2 Upstream, Midstream, Downstream, Equipment and Services Companies THE OIL SUPPLY CHAIN

More information

Oil Gas expo 2015 is comprised of 13 Main tracks and 131 sub tracks designed to offer comprehensive sessions that address current issues.

Oil Gas expo 2015 is comprised of 13 Main tracks and 131 sub tracks designed to offer comprehensive sessions that address current issues. OMICS Group cordially invites participants from all over the world to attend International Conference and Expo on Oil and Gas, scheduled during November, 16-18, 2015 at Dubai, UAE mainly focused on the

More information

IMPACT OF SHALE TECHNOLOGY ON HOUSTON REAL ESTATE

IMPACT OF SHALE TECHNOLOGY ON HOUSTON REAL ESTATE IMPACT OF SHALE TECHNOLOGY ON HOUSTON REAL ESTATE Prepared for: Modern Green Development Co., Ltd. and Canadian Community Service Association June 21, 2013 Mining, Finance and Real Estate Forum Vancouver,

More information

First to US Market with trucked compressed natural gas delivered to companies beyond the pipeline. Bennington presentation by NG Advantage LLC

First to US Market with trucked compressed natural gas delivered to companies beyond the pipeline. Bennington presentation by NG Advantage LLC First to US Market with trucked compressed natural gas delivered to companies beyond the pipeline 1 Natural gas is methane same stuff that comes from cow manure CNG is compressed natural gas LNG is liquefied

More information

OIL MARKETS AND THEIR ANALYSIS IEA ENERGY TRAINING WEEK PARIS, APRIL 2013

OIL MARKETS AND THEIR ANALYSIS IEA ENERGY TRAINING WEEK PARIS, APRIL 2013 OIL MARKETS AND THEIR ANALYSIS IEA ENERGY TRAINING WEEK PARIS, APRIL 2013 A (VERY) BRIEF OVERVIEW OF THE OIL INDUSTRY End consumers buy refined products (eg gasoline / diesel) Refineries buy crude oil

More information

US Shale Gas Revolution Economic, Commercial and Environmental/ Carbon Implications

US Shale Gas Revolution Economic, Commercial and Environmental/ Carbon Implications US Shale Gas Revolution Economic, Commercial and Environmental/ Carbon Implications Benjamin Schlesinger and Associates, LLC 3 Bethesda Metro Center, Suite 700 Bethesda, Maryland 20814 5th UNECE Gas Centre

More information

Preparing for Changes in Market Design

Preparing for Changes in Market Design Preparing for Changes in Market Design EMART Conference Didier Lebout, Strategy and Development Director Gazprom Marketing and Trading France Amsterdam, 21 November 2012 In this presentation GM&T Ltd:

More information

The effect of shale gas revolution on oil industry

The effect of shale gas revolution on oil industry The effect of shale gas revolution on oil industry Choi DooHo Oil & Gas Unit Introduction The Shale Gas Revolution is one of the most significant issues in the energy industry today. This revolution has

More information

The Growing Importance of Natural Gas

The Growing Importance of Natural Gas May 2014 Natural Gas White Paper The Growing Importance of Natural Gas The natural gas industry is experiencing a revolution. Fueled by advances in drilling technology, natural gas has become an abundant

More information

Pet Coke Consulting, LLC. Phil Fisher Argus Conference, Houston September 19-21, 2012

Pet Coke Consulting, LLC. Phil Fisher Argus Conference, Houston September 19-21, 2012 Pet Coke Consulting, LLC Phil Fisher Argus Conference, Houston September 19-21, 2012 Will Pet Coke continue to be made over next 25 years? To answer, we need to know: What drives pet coke production? How

More information

2015 JET FUEL PRICE FORECAST

2015 JET FUEL PRICE FORECAST 2015 JET FUEL PRICE FORECAST Airlines The prospects for airlines are dependant on economic recovery. There is little to indicate an early end to the downturn. It will be a grim 2009. And while prospects

More information

CBRE CLARION SECURITIES MASTER LIMITED PARTNERSHIPS: GLOBALIZATION OF ENERGY MARKETS LEADING TO SECULAR GROWTH

CBRE CLARION SECURITIES MASTER LIMITED PARTNERSHIPS: GLOBALIZATION OF ENERGY MARKETS LEADING TO SECULAR GROWTH CBRE CLARION SECURITIES MASTER LIMITED PARTNERSHIPS: GLOBALIZATION OF ENERGY MARKETS LEADING TO SECULAR GROWTH MAY 2014 201 King of Prussia Road, Suite 600 Radnor, PA 19087 USA T. 610.995.2500 www.cbreclarion.com

More information

EIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications

EIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications EIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications November 2014 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared

More information

Annual Energy Outlook 2015

Annual Energy Outlook 2015 For Columbia University New York, NY By Adam Sieminski U.S. Energy Information Administration U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov Key results from (AEO215)

More information

HOW EXPANDING U.S. CRUDE EXPORTS CAN MEAN CHEAPER GAS FOR AMERICANS

HOW EXPANDING U.S. CRUDE EXPORTS CAN MEAN CHEAPER GAS FOR AMERICANS HOW EXPANDING U.S. CRUDE EXPORTS CAN MEAN CHEAPER GAS FOR AMERICANS BY DAN EBERHART, CEO, CANARY, LLC CANARYUSA.COM WELLHEADS FRAC EQUIPMENT PRODUCTION SERVICES MANUFACTURING HOW EXPANDING U.S. CRUDE EXPORTS

More information

Natural Gas. Shale Gas Impacts. Natural Gas Liquids (NGLs) Dan Brockett Penn State Extension

Natural Gas. Shale Gas Impacts. Natural Gas Liquids (NGLs) Dan Brockett Penn State Extension Natural Gas Shale Gas Impacts Natural Gas Liquids (NGLs) Dan Brockett Penn State Extension Natural Gas Liquids Natural Gas Liquids (NGLs) are found in wet gas or rich gas areas of shale gas producing regions.

More information

Energy Value Chains. What is a Value Chain?

Energy Value Chains. What is a Value Chain? Energy s Overview of Fundamentals Center for Energy Economics, UT-Austin. No reproduction, distribution or attribution without permission. 1 What is a? The process of linking specific functions from input

More information

Coalbed Methane Production!

Coalbed Methane Production! Coalbed Methane Production INTERNATIONAL STANDARD RESOURCES (0091.HK) Suzhou City, Anhui Suzhou City is approximately 500km northwest of Shanghai, with its landscape defined by flatlands and a river channel

More information

Introduction to Oil & Gas Industry, Accounting & Financial Statement Analysis. Copyright by Wall Street Prep, Inc. All rights reserved 1

Introduction to Oil & Gas Industry, Accounting & Financial Statement Analysis. Copyright by Wall Street Prep, Inc. All rights reserved 1 Introduction to Oil & Gas Industry, Accounting & Financial Statement Analysis Copyright by Wall Street Prep, Inc. All rights reserved 1 A number of distinct yet interconnected sectors There are a number

More information

Tuesday, March 17, 2015 Houston, TX. Energy Exchange 9:20 9:50 a.m. and 9:55 10:25 a.m. OIL AND GAS: ENVIRONMENTAL INSURANCE IS IT NECESSARY?

Tuesday, March 17, 2015 Houston, TX. Energy Exchange 9:20 9:50 a.m. and 9:55 10:25 a.m. OIL AND GAS: ENVIRONMENTAL INSURANCE IS IT NECESSARY? Tuesday, March 17, 2015 Houston, TX Energy Exchange 9:20 9:50 a.m. and 9:55 10:25 a.m. OIL AND GAS: ENVIRONMENTAL INSURANCE IS IT NECESSARY? Copyright 2015 International Risk Management Institute, Inc.

More information

MLP Investing: Source: U.S. Energy Information Administration, Monthly Energy Review, March 2016

MLP Investing: Source: U.S. Energy Information Administration, Monthly Energy Review, March 2016 August 2016 MLP Investing: The Impact of the Natural Gas Megatrend on Energy Infrastructure Curt Pabst, Managing Director, Eagle Global Advisors U.S. Shale Revolution Much has been made of the impact of

More information

JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY

JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY Testimony of Kenneth B. Medlock III, PhD James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics, and Senior Director,

More information

March 2015 MEGATRENDS IN THE OIL AND GAS INDUSTRY

March 2015 MEGATRENDS IN THE OIL AND GAS INDUSTRY March 2015 MEGATRENDS IN THE OIL AND GAS INDUSTRY Cautionary Statement The following presentation includes forward-looking statements. These statements relate to future events, such as anticipated revenues,

More information

Fuel Focus. Understanding Gasoline Markets in Canada and Economic Drivers Influencing Prices. Issue 5, Volume 9

Fuel Focus. Understanding Gasoline Markets in Canada and Economic Drivers Influencing Prices. Issue 5, Volume 9 Fuel Focus Understanding Gasoline Markets in Canada and Economic Drivers Influencing Prices Issue, Volume 9 April 4, 14 Copies of this publication may be obtained free of charge from: Natural Resources

More information

Executive Briefing: LNG Supply for Marine Vessels

Executive Briefing: LNG Supply for Marine Vessels Executive Briefing: LNG Supply for Marine Vessels June 2011 1 Agenda Clean Energy Business Brief LNG Benefits Cheaper Cleaner American Economics LNG Supply & Logistics 2 About Clean Energy (NASDAQ: CLNE)

More information

Australia s Natural Gas Opportunity: Fuelling A Manufacturing Renaissance

Australia s Natural Gas Opportunity: Fuelling A Manufacturing Renaissance Australia s Natural Gas Opportunity: Fuelling A Manufacturing Renaissance Fact Sheet 1: September 2012 Supply Constraints Ahead for Gas Natural gas is essential for Australian industry. It is used as an

More information

Keeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma

Keeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma Keeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma Trisha Curtis, Research Analyst Energy Policy Research Foundation, Inc. (EPRINC) CERI Oil Conference 2012 April 23 rd, 2012

More information

Oil Price Volatility and the Continuing Case for Natural Gas as a Transportation Fuel

Oil Price Volatility and the Continuing Case for Natural Gas as a Transportation Fuel Oil Price Volatility and the Continuing Case for Natural Gas as a Transportation Fuel The recent decline in world crude oil prices is bringing new attention to the factors that drive the price and stability

More information

Is fracking cracking the renewable industry? How big a threat is shale gas to renewables?

Is fracking cracking the renewable industry? How big a threat is shale gas to renewables? Is fracking cracking the renewable industry? How big a threat is shale gas to renewables? Infrastructure Investor: Renewable Energy Forum 2012 London, 30 th October 2012 Dragoș Tâlvescu on behalf Karen

More information

Residential Heating Oil Prices: What Consumers Should know

Residential Heating Oil Prices: What Consumers Should know Residential Heating Oil Prices: What Consumers Should know Introduction Heating oil is a petroleum product used by many Americans to heat their homes. Historically, heating oil prices have fluctuated from

More information

LNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39

LNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39 LNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39 For the past few years LNG has experienced high levels of activity and investment in

More information

NATURAL GAS: CHANGING THE MIDDLE EAST ENERGY LANDSCAPE. Malcolm Brinded EXECUTIVE DIRECTOR, UPSTREAM INTERNATIONAL

NATURAL GAS: CHANGING THE MIDDLE EAST ENERGY LANDSCAPE. Malcolm Brinded EXECUTIVE DIRECTOR, UPSTREAM INTERNATIONAL NATURAL GAS: CHANGING THE MIDDLE EAST ENERGY LANDSCAPE Malcolm Brinded EXECUTIVE DIRECTOR, UPSTREAM INTERNATIONAL 1 KUWAIT: UNLOCKING JURASSIC GAS FIELDS 2 THE MIDDLE EAST GAS PUZZLE Middle East has 40%

More information

UPSTREAM OIL AND GAS INDUSTRY IN KENYA

UPSTREAM OIL AND GAS INDUSTRY IN KENYA UPSTREAM OIL AND GAS INDUSTRY IN KENYA INTRODUCTION What is Upstream Oil and Gas? The petroleum industry is broadly divided into three segments namely: upstream (exploration and production), mid-stream

More information

Reducing America s Dependence on Foreign Oil Supplies. Martin Feldstein *

Reducing America s Dependence on Foreign Oil Supplies. Martin Feldstein * Reducing America s Dependence on Foreign Oil Supplies Martin Feldstein * The United States now imports nearly 60 percent of the oil that we consume. This dependence on foreign supplies makes us vulnerable

More information

U.S. Energy Outlook. Oil and Gas Strategies Summit May 21, 2014 New York, NY. By Adam Sieminski, EIA Administrator

U.S. Energy Outlook. Oil and Gas Strategies Summit May 21, 2014 New York, NY. By Adam Sieminski, EIA Administrator U.S. Energy Outlook May 21, 214 New York, NY By Adam Sieminski, EIA Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov The U.S. has experienced a rapid increase

More information

Global Energy Dynamics: Outlook for the Future. Dr Fatih Birol Chief Economist, IEA 18 June 2014

Global Energy Dynamics: Outlook for the Future. Dr Fatih Birol Chief Economist, IEA 18 June 2014 Global Energy Dynamics: Outlook for the Future Dr Fatih Birol Chief Economist, IEA 18 June 2014 The world energy scene today Some long held tenets of the energy sector are being rewritten Countries are

More information

PETROLEUM SECTOR DEVELOPMENTS IN EGYPT

PETROLEUM SECTOR DEVELOPMENTS IN EGYPT PETROLEUM SECTOR DEVELOPMENTS IN EGYPT March 2009 2009 Business Studies & Analysis Center. All rights reserved. Unauthorized reproduction, copying, re-mailing, storage or website posting is prohibited.

More information

Natural Gas for Fleet Vehicles

Natural Gas for Fleet Vehicles Natural Gas for Fleet Vehicles The Answer to Rising Energy Prices and Lower Emissions Targets Union Gas Limited June 18 th 2014 What is Compressed Natural Gas (CNG)? Pipeline gas compressed and stored

More information

2010 Advanced Energy Conference

2010 Advanced Energy Conference 2010 Advanced Energy Conference Natural and Renewable Gas Focus Global presence, with headquarters in Montreal, Canada Listed on the Toronto Stock Exchange (TSX: XBC) Who we are Market Focus Strategy Leading

More information

Democratic and Republican Positions on Environmental Issues. Edward H. Klevans, Professor and Department Head Emeritus of Nuclear Engineering

Democratic and Republican Positions on Environmental Issues. Edward H. Klevans, Professor and Department Head Emeritus of Nuclear Engineering Democratic and Republican Positions on Environmental Issues Edward H. Klevans, Professor and Department Head Emeritus of Nuclear Engineering Issue: Climate Change Democratic Position The Democratic Platform

More information

22 nd WPC Topic Descriptions

22 nd WPC Topic Descriptions 22 nd WPC Topic Descriptions BLOCK 1: Exploration and Production of Oil and Gas FORUMS: F1 Exploration challenges how to reduce risk F2 Unconventional hydrocarbon resource development North American phenomena

More information

Moving Crude Oil by Rail

Moving Crude Oil by Rail Moving Crude Oil by Rail Association of American Railroads December 2013 Summary Technological advances, along with relatively high crude oil prices, have led to sharply higher U.S. crude oil production.

More information

Platts Pipeline Development and Expansion NuStar Energy s Eagle Ford Program Presented by Mike Crossey September 17, 2013

Platts Pipeline Development and Expansion NuStar Energy s Eagle Ford Program Presented by Mike Crossey September 17, 2013 Platts Pipeline Development and Expansion NuStar Energy s Eagle Ford Program Presented by Mike Crossey September 17, 2013 4 NuStar Overview Asset Stats: Operations in the U.S., Canada, Mexico, the Netherlands,

More information

OUR CONVERSATION TODAY

OUR CONVERSATION TODAY OUR CONVERSATION TODAY Our goal is to raise the level of awareness around the oil supply chain among key stakeholders in order to facilitate positive working relationships and more informed decision making.

More information

Rush hour in Kolkata (formerly Calcutta), India. Between 1990 and 2000, the number of motor vehicles per capita more than doubled in four

Rush hour in Kolkata (formerly Calcutta), India. Between 1990 and 2000, the number of motor vehicles per capita more than doubled in four Rush hour in Kolkata (formerly Calcutta), India. Between 1990 and 2000, the number of motor vehicles per capita more than doubled in four Asia-Pacific nations: South Korea, the Philippines, India, and

More information

Nigeria: A market for the Danish offshore industry? Seminar. Peter Blach, Offshore Center Danmark Tuesday, March 11th 2008 at Offshore Center Danmark

Nigeria: A market for the Danish offshore industry? Seminar. Peter Blach, Offshore Center Danmark Tuesday, March 11th 2008 at Offshore Center Danmark Nigeria: A market for the Danish offshore industry? Seminar Peter Blach, Offshore Center Danmark Tuesday, March 11th 2008 at Offshore Center Danmark 1 The Nigerian Oil Industry Nigerian Oil Industry: Introduction

More information

Cabot Oil & Gas Corporation

Cabot Oil & Gas Corporation Information you need to know regarding Cabot Oil & Gas Corporation s natural gas production activities and hydraulic fracturing About Cabot Cabot Oil & Gas Corporation (Cabot) is a leading independent

More information

Der europäische Energiemarkt im Einfluss globaler Entwicklungen Auswirkungen unkoordinierter, regionaler Energiestrategien

Der europäische Energiemarkt im Einfluss globaler Entwicklungen Auswirkungen unkoordinierter, regionaler Energiestrategien Der europäische Energiemarkt im Einfluss globaler Entwicklungen Auswirkungen unkoordinierter, regionaler Energiestrategien DI Dr.techn. Christian Panzer Wien Energie Unternehmensentwicklung Web: http://wienenergie.at

More information

Teacher s notes. Overview. The arguments. Lead-in. Key words. Describing a process and checking for understanding

Teacher s notes. Overview. The arguments. Lead-in. Key words. Describing a process and checking for understanding Level: Intermediate upwards Timing: 90 minutes plus Material needed: One copy of the student worksheet, Part A or B of the article and Vocabulary record per student Group size: Any Overview This lesson

More information

Why SWN Choose Natural Gas Vehicles? Natural Gas Summit Austin, TX. October 23 rd 2014 Eddie Murray. Texas Railroad Commission

Why SWN Choose Natural Gas Vehicles? Natural Gas Summit Austin, TX. October 23 rd 2014 Eddie Murray. Texas Railroad Commission Why SWN Choose Natural Gas Vehicles? Texas Railroad Commission Natural Gas Summit Austin, TX October 23 rd 2014 Eddie Murray What I will cover - Why SWN decided on CNG? I will take you through our reasoning.

More information

The shale revolution - impact on the global oil and gas market

The shale revolution - impact on the global oil and gas market The shale revolution - impact on the global oil and gas market Thina Margrethe Saltvedt, Senior Analyst, Macro/Oil March 2013 @ThinaSaltvedt Brief intro to the oil market Drivers of the oil price Short-term

More information

Brenntag AG Analyst Round Table 2014

Brenntag AG Analyst Round Table 2014 Brenntag AG Analyst Round Table 2014 London November 5, 2014 AGENDA Update on Brenntag Europe and ONE Brenntag initiative Karsten Beckmann, CEO Brenntag Europe Update on Brenntag North America and Oil&Gas

More information

Adding fuel to the fire North America s hydrocarbon boom is changing everything. Steven Meersman. Roland Rechtsteiner

Adding fuel to the fire North America s hydrocarbon boom is changing everything. Steven Meersman. Roland Rechtsteiner Adding fuel to the fire North America s hydrocarbon boom is changing everything Steven Meersman Mark Pellerin Roland Rechtsteiner What if the gasoline that you put in your car came from natural gas instead

More information

Presentation from the 2014 World Water Week in Stockholm

Presentation from the 2014 World Water Week in Stockholm Presentation from the 2014 World Water Week in Stockholm www.worldwaterweek.org The Author(s), all rights reserved www.siwi.org TRADING SECURITIES? A COMPARATIVE STUDY ON REGULATING FRACKING IN EUROPE

More information

February 29, 2016 Price Forecast Commentary

February 29, 2016 Price Forecast Commentary February 29, 2016 Price Forecast Commentary Sproule s short-term outlook for oil and gas prices is based on information obtained from various sources, including government agencies, industry publications,

More information

Oil and Gas Capital Expenditure Outlook, 2012

Oil and Gas Capital Expenditure Outlook, 2012 Brochure More information from http://www.researchandmarkets.com/reports/2017870/ Oil and Gas Capital Expenditure Outlook, 2012 Description: Oil and Gas Capital Expenditure Outlook, 2012 Summary Oil and

More information

Gas Prices in Idaho. What factors determine the price of gas in Idaho?

Gas Prices in Idaho. What factors determine the price of gas in Idaho? Gas Prices in Idaho What factors determine the price of gas in Idaho? OFFICE OF THE ATTORNEY GENERAL Lawrence G. Wasden Consumer Protection Division 954 W. Jefferson, 2 nd Floor P.O. Box 83720 Boise, ID

More information

US and China Energy: Swapping Places in World Markets

US and China Energy: Swapping Places in World Markets US and China Energy: Swapping Places in World Markets Dr David Robinson OIES 23 January 2014 Energy for Economics Madrid 1 Sources and Caveat These slides include references to the history and forecasts

More information

A History and Overview of the Barnett Shale

A History and Overview of the Barnett Shale A History and Overview of the Barnett Shale Drilling The Dale Operating / Fourth Street 'A' Gas Unit #1H, East Downtown Fort Worth, Texas October, 2006, Courtesy of Dale Operating, Photo by Mike Fuentes

More information

Unnecessary Keystone XL Pipeline Delay Obstructs Energy, Jobs

Unnecessary Keystone XL Pipeline Delay Obstructs Energy, Jobs No. 2632 December 13, 2011 Unnecessary Keystone XL Pipeline Delay Obstructs Energy, Jobs Nicolas D. Loris Abstract: The Obama Administration has announced that it will delay the decision to approve or

More information

Global growth rates Macroeconomic indicators CEDIGAZ Reference Scenario

Global growth rates Macroeconomic indicators CEDIGAZ Reference Scenario Medium and Long Term Natural Gas Outlook CEDIGAZ February 215 Global growth rates Macroeconomic indicators CEDIGAZ Reference Scenario 4 3 %/year 199-213 213-235 6 Main consuming markets - %/year (213-235)

More information

Expanding the Twin Ports Energy Cluster to include LNG and CNG Production and Distribution. Dr. Richard Stewart, Co-Director-GLMRI May 21, 2014

Expanding the Twin Ports Energy Cluster to include LNG and CNG Production and Distribution. Dr. Richard Stewart, Co-Director-GLMRI May 21, 2014 Expanding the Twin Ports Energy Cluster to include LNG and CNG Production and Distribution Dr. Richard Stewart, Co-Director-GLMRI May 21, 2014 Natural Gas (NG) Study Overview The U.S. Maritime Administration

More information

CEE Midstream/Downstream Review Do we WANT it?

CEE Midstream/Downstream Review Do we WANT it? CEE Midstream/Downstream Review Do we WANT it? CEE-BEG-UT, 1 Industrial Demand Inventory 107 projects, $75 billion, mainly in the Gulf Coast region Segment $ million Fractionation (28) 6,208 Ethylene (15;

More information

Tuesday, March 5, 2013 Houston, TX. 9:00 10:10 a.m. KEYNOTE ADDRESS: HYDROCARBON HAT TRICK HOW SHALE IS IMPACTING THE ECONOMY

Tuesday, March 5, 2013 Houston, TX. 9:00 10:10 a.m. KEYNOTE ADDRESS: HYDROCARBON HAT TRICK HOW SHALE IS IMPACTING THE ECONOMY Tuesday, March 5, 2013 Houston, TX 9:00 10:10 a.m. KEYNOTE ADDRESS: HYDROCARBON HAT TRICK HOW SHALE IS IMPACTING THE ECONOMY Presented by Jesse Thompson Business Economist Federal Reserve Bank of Dallas,

More information

Black Wax Workshop Crude Oil Transportation April 12, 2012"

Black Wax Workshop Crude Oil Transportation April 12, 2012 Mike Miller Vice President Commercial Development Email: mikem@savageservices.com Website: www.savageservices.com Black Wax Workshop Crude Oil Transportation April 12, 2012" Discussion Points" Conventional

More information

Presentation to the Angola Field Group at the Viking Club Luanda - Angola February 5, 2015. Tako Koning, Senior Petroleum Geologist

Presentation to the Angola Field Group at the Viking Club Luanda - Angola February 5, 2015. Tako Koning, Senior Petroleum Geologist Fracking for Oil in the USA and its Impact on Angola s Economy Presentation to the Angola Field Group at the Viking Club Luanda - Angola February 5, 2015 Tako Koning, Senior Petroleum Geologist The presenter:

More information

Technology, Government, and Enterprise: Fossil Fuels

Technology, Government, and Enterprise: Fossil Fuels Stillwater Associates LLC Technology, Government, and Enterprise: Fossil Fuels SE2 Fellows Network 2011 David Hackett Stillwater Associates LLC www.stillwaterassociates.com UC Irvine July 25, 2011 Zao

More information

Watco Companies, L.L.C. NUTC Oil Panel Discussion Terminal Perspective Evanston, IL June 11, 2014 Stefan Loeb SVP Marketing & Strategic Development

Watco Companies, L.L.C. NUTC Oil Panel Discussion Terminal Perspective Evanston, IL June 11, 2014 Stefan Loeb SVP Marketing & Strategic Development Watco Companies, L.L.C. NUTC Oil Panel Discussion Terminal Perspective Evanston, IL June 11, 2014 Stefan Loeb SVP Marketing & Strategic Development Terminal Perspective: Watco Shale Opportunities CASE

More information

Oil and Gas Prices. Oil and Gas Investor Summit London 17th-18th June 2014

Oil and Gas Prices. Oil and Gas Investor Summit London 17th-18th June 2014 Oil and Gas Prices Oil and Gas Investor Summit London 17th-18th June 2014 Oil Price Drowning in oil Economist, March 1999 $10 oil might actually be too optimistic. We may be heading for $5. Crude touches

More information

State of the Oil Markets?

State of the Oil Markets? State of the Oil Markets? U.S. and Global Refining Prospects John R. Auers, P.E. Executive Vice President Washington DC February 17, 2016 U.S. Refining is YUGE! 2 What Determines Refining Winners? Refined

More information

Texas: An Energy and Economic Analysis

Texas: An Energy and Economic Analysis Texas: An Energy and Economic Analysis Posted on 9/30/2013 Texas leads the nation in oil and natural gas reserves and production. In just over 2 years, Texas has doubled its oil production with large quantities

More information

Brisbane Mining Club June Lunch 2014 David Knox Managing Director & CEO, Santos Limited

Brisbane Mining Club June Lunch 2014 David Knox Managing Director & CEO, Santos Limited Brisbane Mining Club June Lunch 2014 David Knox Managing Director & CEO, Santos Limited Thursday, 5 June Brisbane Ladies and Gentlemen Thank you for inviting me here today. Today I want to talk to you

More information

The Shifting World: Iran and the Gas-LNG Game

The Shifting World: Iran and the Gas-LNG Game The Shifting World: Iran and the Gas-LNG Game Paris, 28 April 2016 Bijan Khajehpour INTRODUTION The implementation of the Joint Comprehensive Plan of Action (JCPOA) and the lifting of key sanctions will

More information

China s growing energy demand: some international implications

China s growing energy demand: some international implications China s growing energy demand: some international implications Dr David Robinson Senior Research Fellow OIES 17 October 2013 NOG Stockholm 1 Outline Introduction China s energy demand v. policy objectives

More information

Great Energy Debate Game Students evaluate the advantages and disadvantages of the major energy sources in an innovative debate format.

Great Energy Debate Game Students evaluate the advantages and disadvantages of the major energy sources in an innovative debate format. Great Energy Debate Game Students evaluate the advantages and disadvantages of the major energy sources in an innovative debate format. SUBJECT AREAS Science Social Studies Math Language Arts? s s STUDENT

More information

Transamerica MLP & Energy Income

Transamerica MLP & Energy Income Alternative Investments Transamerica MLP & Energy Income A comprehensive approach to infrastructure investing Portfolio managed by Kayne Anderson Capital Advisors, L.P. Transamerica Funds are advised by

More information

Is Shale Gas In the Driver s Seat???? 3,000 TCF!!!!

Is Shale Gas In the Driver s Seat???? 3,000 TCF!!!! New Institute Go Is Shale Gas In the Driver s Seat???? 3,000 TCF!!!! 2002- Mitchell Energy Led the Way Barnett Shale Gas Play With Discovery of the Barnett Shale Everything Changed Abundant Supplies Price

More information

Impact of Big Data Analysis on Strategic Business Planning for Liquid Natural Gas (LNG) and Methanol Pricing in Commodity Markets

Impact of Big Data Analysis on Strategic Business Planning for Liquid Natural Gas (LNG) and Methanol Pricing in Commodity Markets Impact of Big Data Analysis on Strategic Business Planning for Liquid Natural Gas (LNG) and Methanol Pricing in Commodity Markets By Merv Perry MBA MSc CISSP CISM Big data is fundamentally changing the

More information

The Shale Gale Also Brings a Data Blizzard Author:

The Shale Gale Also Brings a Data Blizzard Author: The Shale Gale Also Brings a Data Blizzard Author: Jim Crompton, Subject Matter Expert Times, they are a-changing. The U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency,

More information

LNG bunkering market perspectives, challenges and trends

LNG bunkering market perspectives, challenges and trends LNG bunkering market perspectives, challenges and trends Moscow 31 March 2015 Sergiu Maznic Full-picture perspective Sund Energy helps navigate into the energy future Energy Economics Environment Learning

More information

Crowley LNG. Puget Sound Harbor Safety Committee June 3 rd, 2015. Matthew Sievert Director Business Development LNG

Crowley LNG. Puget Sound Harbor Safety Committee June 3 rd, 2015. Matthew Sievert Director Business Development LNG Crowley LNG Puget Sound Harbor Safety Committee June 3 rd, 2015 Matthew Sievert Director Business Development LNG Company Profile Crowley was founded in 1892. Largest US Jones Act Co. Focusing on Marine

More information

LNG in Great Lakes Transportation

LNG in Great Lakes Transportation Congressional Briefing: LNG in the Great Lakes January 13, 2015 LNG in Great Lakes Transportation Richard Stewart, Ph.D., CTL Emissions Reductions: A Driver of Change European countries such as Norway

More information

OUR CONVERSATION TODAY

OUR CONVERSATION TODAY OUR CONVERSATION TODAY Our goal is to raise the level of awareness around the natural gas supply chain among key stakeholders in order to facilitate positive working relationships and more informed decision

More information

FINNGULF LNG LNG IMPORT TO FINLAND

FINNGULF LNG LNG IMPORT TO FINLAND FINNGULF LNG LNG IMPORT TO FINLAND CLEANLY WITH NATURAL ENERGY GASES Gasum is a Finnish expert in natural energy gases. We import natural gas to Finland, and transmit and supply it for energy production,

More information

Main Street. Economic information. By Chad Wilkerson, Vice President and Oklahoma City Branch Executive, and Nida Cakir Melek, Economist

Main Street. Economic information. By Chad Wilkerson, Vice President and Oklahoma City Branch Executive, and Nida Cakir Melek, Economist THE Main Street ECONOMIST: ECONOMIST Economic information Agricultural for the and Cornhusker Rural Analysis State S e Issue p t e m b1, e r 2014 2 0 1 0 Feed de er ra al l RR e es se er rv ve e BBa an

More information

Room XXVI Palais des Nations Geneva, Switzerland. Oil Market Outlook. Eissa B. Alzerma Oil Price Analyst Petroleum Studies Department, OPEC

Room XXVI Palais des Nations Geneva, Switzerland. Oil Market Outlook. Eissa B. Alzerma Oil Price Analyst Petroleum Studies Department, OPEC UNCTAD Multi-Year Expert Meeting on Commodities and Development 2013 Recent developments and new challenges in commodity markets, and policy options for commodity-based inclusive growth and sustainable

More information

What s Hot in Oil, Gas and Energy Equipment Leasing

What s Hot in Oil, Gas and Energy Equipment Leasing WWW.IBISWORLD.COM October 2013 1 Follow on head on Master page A October 2013 What s Hot in Oil, Gas and Energy Equipment Leasing By David Yang Effective portfolio risk management is vital to the long-term

More information

UNECE Energy Week Geneva. in Energy Security

UNECE Energy Week Geneva. in Energy Security UNECE Energy Week Geneva Investing in Energy Security Committee on Sustainable Energy and related Meetings Wednesday 28 November 2007 Special Session: Investing in and Financing the Hydrocarbon Sector

More information

CNG & LNG PROMISING NEW GROWTH OPPORTUNITIES FOR THE NATURAL GAS MARKET. Sarah Van Der Paelt, Director, Sales Business Markets

CNG & LNG PROMISING NEW GROWTH OPPORTUNITIES FOR THE NATURAL GAS MARKET. Sarah Van Der Paelt, Director, Sales Business Markets CNG & LNG PROMISING NEW GROWTH OPPORTUNITIES FOR THE NATURAL GAS MARKET Sarah Van Der Paelt, Director, Sales Business Markets Natural Gas Supply Changes The Picture Projected U.S. Pump Fuel Price ($/diesel

More information

mawer INSIGHT CANADA S CRUDE AWAKENING IN THIS ISSUE North America s surging oil & gas supply The technology that s leading to greater output

mawer INSIGHT CANADA S CRUDE AWAKENING IN THIS ISSUE North America s surging oil & gas supply The technology that s leading to greater output mawer INSIGHT Volume 39 April 2013 CANADA S CRUDE AWAKENING IN THIS ISSUE North America s surging oil & gas supply The technology that s leading to greater output The transportation challenge Copyright

More information

2015 MAPA Asphalt Conference Asphalt/Binder Update. Randy Canfield Ergon Asphalt & Emulsions Kansas City, KS

2015 MAPA Asphalt Conference Asphalt/Binder Update. Randy Canfield Ergon Asphalt & Emulsions Kansas City, KS 2015 MAPA Asphalt Conference Asphalt/Binder Update Randy Canfield Ergon Asphalt & Emulsions Kansas City, KS Welcome to MO Asphalt Conference Next Stop Types of Asphalt Trinidad Lake Pen Graded 60/70, 120/150,

More information

Energy. Environmental Science 101. Fall 2012. Learning Objectives: Reading Assignment: Energy

Energy. Environmental Science 101. Fall 2012. Learning Objectives: Reading Assignment: Energy Environmental Science 101 Energy Fall 2012 1 Lecture Outline: 7. NON-RENEWABLE ENERGY RESOURCES A. Energy Sources and Uses in USA B. Current Consumption, Uses and Costs 1. Consumption 2. Energy Costs C.

More information

SPECIAL REPORT: Crude Oil, Natural Gas Production Projected To Increase In U.S.

SPECIAL REPORT: Crude Oil, Natural Gas Production Projected To Increase In U.S. SPECIAL REPORT: Crude Oil, Natural Gas Production Projected To Increase In U.S. April 2013 Executive Summary Just a few years ago, no one would have thought that U.S. oil production could surpass Saudi

More information

Shale gas and tight oil: Framing the opportunities and risks

Shale gas and tight oil: Framing the opportunities and risks 30 Shale gas and tight oil: Framing the opportunities and risks Discussions about broader access to unconventional natural gas and oil should account for a wide range of potential benefits and risks. Tommy

More information

U.S. Crude Oil Pricing Analysis

U.S. Crude Oil Pricing Analysis Alan Stevens, President Stancil & Co. 400 E. Las Colinas Boulevard Suite 700 Irving, Texas 75039 214.688.0255 www.stancilco.com Table of Contents I. Introduction and Summary of Findings... I-1 Historical

More information

STATEMENT OF HOWARD GRUENSPECHT DEPUTY ADMINISTRATOR ENERGY INFORMATION ADMINISTRATION U.S. DEPARTMENT OF ENERGY BEFORE THE

STATEMENT OF HOWARD GRUENSPECHT DEPUTY ADMINISTRATOR ENERGY INFORMATION ADMINISTRATION U.S. DEPARTMENT OF ENERGY BEFORE THE STATEMENT OF HOWARD GRUENSPECHT DEPUTY ADMINISTRATOR ENERGY INFORMATION ADMINISTRATION U.S. DEPARTMENT OF ENERGY BEFORE THE COMMITTEE ON ENERGY AND COMMERCE SUBCOMMITTEE ON ENERGY AND POWER UNITED STATES

More information