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Quatar leaves OPEC

There has been lots of rift between the Saudis and Qatar, for quite some time. Saudi Arabia is accusing Qatar of financing terrorism. The Saudis are trying to give Qatar lots of problems, and Qatar fought back, by damaging OPEC and leaving. This will be the beginning of the unraveling of OPEC as I predict more nations to leave OPEC. This will also give OPEC less control of oil prices. Therefore any production cuts from OPEC in the future could soon become meaningless.

JJ

Top Oil Trader

 

Analysis: Trump and Saudi collision on oil, and Bingaman’s return to Santa Fe

The full article is here-> https://www.daily-times.com/story/money/industries/oil-gas/2018/11/25/analysis-trump-and-saudi-collision-oil-bingamans-return-santa-fe/2015081002/ "In an earlier column, readers overseas benefited from this writer’s forecast that crude oil prices would fall dramatically because most commodity traders got it wrong. Simply, this column’s analysis was the buying of oil assumed a shortage would result once the sanctions against Iran would be activated the first week of November.    President Trump wanted lower oil prices with OPEC and Saudi Arabia pumping more. Two weeks ago, a call from the Middle East confirmed readers of the column had followed the analysis in the Energy Magazine and sold Brent oil — and profited.   Oil has slumped under $60 as the delusion of a shortage vanished. In the November issue column, this writer made a call: the oil price would reach $50 as a low. There is no change in that forecast. The price in the commodity market for WTI crude would touch in the very high $40 range before the Saudi-led production cut-back is realized. Why? Again, too much capacity to produce too much oil for demand. What's the impact on SW oil? Oil demand without commodity traders’ bets on the sanctions against Iranian oil production and export contradicts flagging demand. Some Southwest shale producers, faced with discounts on domestic sales, are exporting oil to world markets and capturing the higher Brent price or differential between the WTI priced Midland domestic and the Brent price for the World.     But this would shift Southwest tight oil into a world market where such supply also chases weaker demand. This switches U.S. oil into world oil as exports and diverts it from going into U.S. storage. Unlike the last three price sell-offs Saudi Arabia, speaking for OPEC, is strangely silent on calling on non-OPEC producers join it in lowering production or “balancing” the market.      Quite the opposite. Led by shale producers in the Delaware (New Mexico) Basin in the Permian complex, United State production approaches 12 million barrels per day, a historic high and number one position against the Middle East and Russia."

RB

bluewill

Eagle Ford - update through August 2018

This interactive presentation contains the latest oil & gas production data from all 21,540 horizontal wells in the Eagle Ford region, that started producing since 2008, through August. Visit ShaleProfile blog to explore the full interactive dashboards Since the low point two years ago, oil production in the Eagle Ford has kept growing. I expect that after revisions August production will eventually come in at around 1.3 million bo/d (~100 kbo/d higher than shown now).   Natural gas production follows a very similar pattern. If you switch ‘Product’ to gas, you’ll find that in 2018 total gas production was just below 6 Bcf/d. The underlying decline is clearly visible in this graph; you can see that the horizontal wells from before 2015 peaked at over 1.6 million bo/d in Dec 2014, and that the same group produced just 0.3 million bo/d in August.   The main reason for the recent increase in oil production is not higher well productivity, as this has not significantly changed in the past 2 years (see ‘Well quality’). But about 5 wells have been completed every day in 2017 & 2018, on average, versus just 4 in 2016.   The ‘Advanced Insights’ presentation is displayed below: In this “Ultimate Recovery” overview, the relationship between production rates and cumulative production is revealed. Wells are grouped by the year in which production started. Declines here are steeper than in the Permian or the Bakken, and that means that a greater part of the oil EUR is recovered in the first year on production (about half). I wanted to have a closer look at the well performance of the two leading operators, EOG & ConocoPhillips. Here you find this comparison, for horizontal wells that started between 2014 & 2017, taken from our ShaleProfile Analytics service. For each operator & year combination, you can see the performance curve on the right plot. Striking here is the difference in well behavior. EOGs wells decline in a fairly straight line from the peak, while the wells operated by ConocoPhillips are able to maintain a higher flow rate for several months, before they display a steepening of the decline. Early next week we will have a post on the Permian again.   Production data is subject to revisions, especially for the last few months. For this presentation, I used data gathered from the following sources: Texas RRC. Production data is provided on lease level. Individual well production data is estimated from a range of data sources, including regular well tests, and pending data reports. FracFocus.org   Visit our blog to read the full post and use the interactive dashboards to gain more insight http://bit.ly/2Q2eRwV   Follow us on Social Media: Twitter: @ShaleProfile
Linkedin: ShaleProfile
Facebook: ShaleProfile  

shaleprofile

shaleprofile

offshore wind energy market Offshore Wind Energy Market’s Cumulative Offshore capacity Is Expected To Reach to 49,931.6 MW By 2025

According to a new market report published by Credence Research “Global Offshore Wind Energy Market , by foundation type (Monopile, Jacket, Tripod, Floating), by Water Depth (shallow water [up to 29m deep], transient water [30-60m deep] and deep water [60m and above]) and by Geography (North America, Europe, Asia Pacific and Rest of the World) - Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the offshore wind energy market volume is expected to reach to 49,931.6 MW by 2025 Browse the full offshore wind energy market, by foundation type (Monopile, Jacket, Tripod, Floating), by Water Depth (shallow water [up to 29m deep], transient water [30-60m deep] and deep water [60m and above]) and by Geography (North America, Europe, Asia Pacific and Rest of the World) – Market Growth, Future Prospects and Competitive Analysis, 2017 – 2025 Market Insights Offshore wind energy (offshore wind power) is the conversion of wind’s kinetic energy into electrical energy. Uniform and high speeds of wind can be harnessed in offshore environment since it accounts to nil obstruction to wind force. Multiple windmills together constitute to a wind farm. These farms are constructed in the water bodies usually oceans to harvest the energy of wind and convert it into electrical energy. Browse the full report at https://www.credenceresearch.com/report/offshore-wind-energy-market The offshore wind installations reduces the impact on real estate as in onshore installations. Moreover, wind speed is uniform and consistent in offshore installations, which increases the efficiency of electricity generation. Thus, the offshore wind energy is highly attractive and more promising in terms of power generation and grid connections. Some of the restraining factors of offshore wind installations are wind turbines are exposed to high humidity and salt contents, which affects service life of components due to corrosion, oxidation and increased repair and maintenance costs. In general, the offshore installation costs are much higher than onshore.  The repair maintenance and overhauling operations are also high cost and time consuming as it requires expensive marine operations involvement and are comparatively dangerous. The offshore wind farms operate at high speeds compared to onshore wind farms, hence offshore turbines are more susceptible to high rate of wear and tear, maintenance and repair of moving parts. In the early 2017, Denmark has come up with new recycling process of offshore wind turbine blades, made up of fiberglass. When the wind turbine is de-commissioned, the blades may fall off to the landfill area where it may take many years to decompose. The blades can now be recycled and applied as sound barriers of vehicular traffic along major roads. The key players, developers, suppliers and service providers are Siemens-Gamesa, MHI Vestas Wind Systems A/S, DONG Energy, VattenFall, E.on, GE Wind, Sinovel Wind Group Co. Ltd., Nordex S.E, China Ming Yang Wind Power Group Ltd, Alstom, Senvion Ltd., Clipper Wind power, and DOOSAN Heavy Industry & Construction. Key Trends: Rising investor confidence in the offshore wind energy market. More financial institutions and Governmental agencies actively investing in the market for development of offshore wind farms. Deployment of 8MW and above wind turbine in European and Chinese farms and its introduction in the respective countries for proposed offshore wind power projects  

JP

johnsonpaul

Niobrara (CO & WY) - update through September 2018

These interactive presentations contain the latest oil & gas production data, from all 9,508 horizontal wells that started production in Colorado and Wyoming since 2009/2010, through September. Since the last post, we’ve also added several other regions in these 2 states, and they are included here. Visit ShaleProfile blog to explore the full interactive dashboards In August a new record was set, at over 0.5 million bo/d. After revisions are in I believe September will show a higher level again. Weld County produces about 75% of this output (group production by ‘County’ to see this).   Decline rates are fairly high, and most wells are at or below 20 bo/d after 4 years on production, as you’ll see in the ‘Well quality’ tab. In the ‘Well status’ tab the statuses are shown for all these wells. After selecting only ‘First flow’, you’ll note that the number of wells that started production in July and August (>160) was almost back to the record levels in 2014.   The final tab shows the leading operators and the location of their operated wells. Extraction Oil & Gas tripled its output in the past 1.5 years, and is now the number 3.   The ‘Advanced Insights’ presentation is displayed below: In this “Ultimate Recovery” graph, the average cumulative production of all these horizontal wells is plotted against the production rate. Wells are grouped by the quarter in which production started. A major jump in average well productivity can be seen near the end of 2016, marked by the pink and red curves at the top, after which it has slightly fallen.   The 2nd tab ranks all wells by their cumulative production. The best three horizontal wells since 2009 have now produced more than 0.5 million barrels of oil, and they are all located in Campbell County (WY).   Last week we published a post on gas production in Pennsylvania. Tomorrow (Tuesday), at 10:30 EST, we’ll go over that in more detail in our show at enelyst: enelyst ShaleProfile Briefings channel. If you are not an enelyst member yet, you can sign up for free at www.enelyst.com, using the code: “Shale18” We have upgraded our data release procedure, and are now able to share on a weekly basis our database with ShaleProfile Data subscribers. More info can be found here. Later this week we will have an update on the Eagle Ford, followed by the Permian early next week. Production data is subject to revisions. For this presentation, I used data gathered from the following sources: Colorado Oil & Gas Conservation Commission Wyoming Oil & Gas Conservation Commission FracFocus.org   Visit our blog to read the full post and use the interactive dashboards to gain more insight http://bit.ly/2PWT8pP   Follow us on Social Media: Twitter: @ShaleProfile
Linkedin: ShaleProfile
Facebook: ShaleProfile  

shaleprofile

shaleprofile

motor gasoline market Motor Gasoline Market Is Expected To Each US$ 1,792.4 Bn by 2024

The latest market report published by Credence Research, Inc. “Global Motor Gasoline Market, By Geography- Growth, Future Prospects and Competitive Analysis, 2016 – 2024” the global Motor Gasoline market was valued at US$ 1,134.1 Bn in 2016, and is expected to each US$ 1,792.4 Bn by 2024, expanding at a CAGR of 5.9% from 2016 to 2024. Browse the full report at https://www.credenceresearch.com/report/motor-gasoline-market Market Insights Global Motor Gasoline market is projected to witness substantial growth over the forecast period. Rapid growth in disposable income of middle class especially in emerging economies of Asia Pacific is expected to fuel the demand for automobiles which in turn is projected to drive the demand for motor gasoline over the forecast period. In 2015, sales of passenger cars reached to 73.9 Mn vehicles out of which sales of passenger vehicles in China and Japan was 21.15 Mn vehicles and 4.22 Mn vehicles respectively. Followed by it, U.S. stood at second position with annual sales of 7.57 Mn vehicles annually. Robust growth in sales of passenger vehicles is projected to fuel the demand for the motor gasoline over the forecast period. However, growing use of alternatives such as LPG, Diesel and CNG as fuels coupled with increasing initiatives of government to promote use renewable fuels is anticipated to restrain the demand for global motor gasoline market during the forecast period (2016-2024). By geography, North America was the largest region in global motor gasoline market in 2015. The growth in the region is fueled by increasing sales of automobiles in the regions especially in U.S. Followed by it, Asia Pacific is anticipated to be the second largest and fastest growing region in global motor gasoline market. China, Japan and India is anticipated to drive the demand for the motor gasoline in the region over the forecast period (2016-2024). Considering the competition, the global motor gasoline market is expected to witness a significant rise in investment in capacity expansion for the production and supply of gasoline to cater the increasing demand for motor gasoline. Further, market has witnessed strategic mergers and collaborations among motor gasoline regional and global players. Such growth strategies are focused on increasing their market penetration in key consuming economies. Download Sample Here: https://www.credenceresearch.com/sample-request/58367 For the purpose of this study, the global motor gasoline market is categorized into: North America Europe Asia Pacific Latin America (LATAM) Middle East and Africa (MEA)  

JP

johnsonpaul

oil storage market size Oil Storage Market Size, Share, Growth, Future Prospects, Competitive Analysis and Forecast 2018 To 2026

The latest report from Credence Research on “Oil Storage Market” market offers comprehensive understanding on market sizes and trends, competitive analysis, and market forecast from 2018 to 2026. Credence Research report helps to discover future business opportunities for stakeholders in this sector by highlighting different aspects such as potential revenues streams, market drivers, opportunities, challenges, issues, and events impacting the “Oil Storage Market” market. “Oil Storage Market” market report covers detailed analysis and forecast for “Oil Storage Market” market segmentation, leading continents along with major countries, and profiles of major companies operating in “Oil Storage Market” market. Browse Full Report with Toc: https://www.credenceresearch.com/report/oil-storage-market Credence Research employs extensive research methodology to derive market size and forecast. Detailed secondary research has been conducted by exploring “Oil Storage Market” related sources, directories, and databases to grasp the market information and dynamics, followed by primary interviews with industry experts, and subject matter expert’s input to further validate the information sourced. Market size estimation involves triangulation of the data obtained from various approaches such as bottom-up, top-down, demand-side, and supply-side. The report studies different segments of “Oil Storage Market” market and provides both, qualitative and quantitative analysis along with competitive landscape, profiling of key players and their preferred development strategies that helps to formulate competitive market strategies and take informed decisions. How this report is useful? The “Oil Storage Market” report will reinforce the strategic decision-making with authentic and reliable market data. It identifies the key competitors operating in the market and their positioning and strategies. The study reveals the new and upcoming technological trends to give you an edge over your competitors. Market data, dynamics, and industry model covered in the report offers clarity on different markets across the value chain and support the decision making regarding entering and exiting the industries. The study also highlights the investment opportunities and revenue pockets present in the market. Download Free Sample Here: https://www.credenceresearch.com/sample-request/58146 Who should buy this report? ·      Stakeholders across the “Oil Storage Market” market value chain. ·      Business development managers ·      CEO’s ·      COO’s ·      Marketing managers ·      Technologists ·      Suppliers ·      Investors ·      Banks ·      Government agencies Major highlights of the study ·      Global “Oil Storage Market” market outlook ·         Classification of the “Oil Storage Market” market based on their major segmentation and Geography ·         Market segments analysis with respect to geographies and their respective countries ·      Industry analysis such as SWOT analysis, Value Chain Analysis, and Porter’s Five Force model for “Oil Storage Market” market ·      Analysis of the key drivers, restraints, and future prospects at global and regional level ·      Market positioning of key players ·      Profiles and competitive dashboard of the leading 10 companies in 2018 at a global level By Reserve Type Commercial Petroleum Reserve Strategic Petroleum Reserve By Geography North America Europe Asia Pacific Latin America Middle-East & Africa (MEA) Key players across the global defoamer’s market value chain are: Oiltanking GmbH, Royal Vopak N.V, Horizon Terminals Ltd and Magellan Midstream Partners L.P., others.  

JP

johnsonpaul

naphtha market Naphtha Market Size, Share Is Expected To Reach US$ 230.9 Bn by 2030

The latest market report published by Credence Research, Inc. “Naphtha Market, By Product Type and By Geography- Growth, Future Prospects and Competitive Analysis, 2016 – 2030,” the global naphtha market was valued at US$ 102.6 Bn in 2016, and is expected to reach US$ 230.9 Bn by 2030, expanding at a CAGR of 5.97% from 2016 to 2030. Click Here for Full Report at https://www.credenceresearch.com/report/naptha-market Market Insights Global naphtha market is projected to witness significant growth over the forecast period. Growing demand for naphtha as a feedstock in petrochemical industry is projected to drive the demand for naphtha over the forecast period. Increasing use of plastic products fueling the demand for the polypropylene and polyethylene which in turn is driving the demand for naphtha used as a feedstock for the production olefins and aromatics using in production of paints and coatings. Further, naphtha also finds application in blending with gasoline. Growing demand for gasoline is anticipated to augment the growth of global naphtha market. Moreover, recent technological advancement such as development of advance furnace materials, advanced distillation column and alternative technologies such as hydro- pyrolysis of naphtha and catalytic cracking of naphtha saves approximately 10% of the energy which in turn reduces the production cost. Thus, making naphtha the preferred feedstock for the end use applications. Growing chemical industry especially in Asia Pacific is projected to drive the global naphtha market during the forecast period (2016-2030). However, growing use of alternatives such as LPG for the production of propane and butane are expected to restrain the growth of global naphtha market during the forecast period (2016-2030). By Product type, heavy naphtha segment was the most dominant segment in 2015 and anticipated to continue its dominance of over the forecast period. The segment is projected to witness stable growth during the forecast period. Light naphtha segment is expected to be the fastest growing segment during the forecast period. Growing use of light naphtha in petrochemical steam crackers is anticipated to fuel the demand over the forecast period (2016-2030). By application, chemical segment was observed to be the largest segment in 2015 in global naphtha market. Increasing use of naphtha as a feedstock for the production of materials such as polyethylene and polypropylene in petrochemical industry is projected to fuel the growth of naphtha over the forecast period (2016-2030). Considering the competition, the global naphtha market is expected to witness a significant rise in investment in capacity expansion for the production and supply of naphtha. Further, market has witnessed strategic mergers and collaborations among naphtha regional and global players. Such growth strategies are focused on increasing their market penetration in key consuming economies. Download Free Sample Request: https://www.credenceresearch.com/sample-request/58350 By Product Heavy Naphtha Light Naphtha By Application Chemical Energy/Fuels Others By Grography North America Europe Asia Pacific Latin America (LATAM) Middle East and Africa (MEA)

JP

johnsonpaul

Increasing Natural Gas Production and Increasing Trade Of Oil & Gas Products Drive The Growth Of Pipeline Leak Detection System Market For Oil & Gas Industry

Market Insights: Global leak detection system market is expected to gain momentum with growing pipeline network and increasing demand for fossil fuels. Advancement in technology has facilitated the pipeline operators to remote monitoring of pipeline operations. Global pipeline network is about 3.5 million kilometers which is responsible for movement of oil & gas products across the globe. Pipelines are considered to be the safest and the most efficient mode of transportation of hydrocarbons as they are hazardous in nature and any spillage or leakage can results in huge loss to the product owner as well as to the environment. Leakage is considered as the most common problem in pipeline operations which not only results in product loss but also can results accidents with huge potential to damage nearby environment. Recent accident happened in recent past such as explosion in gas pipeline in Minnesota, U.S., and eruption of natural gas pipeline in Nebraska in 2014 has bought in legislation for the pipeline carrying hazardous products to mandatory have leak detection system. Thus, global leak detection system market for oil & gas industry is anticipated to driven by factors such as increasing natural gas production, increasing trade of oil & gas products coupled with growing pipeline infrastructure and associated regulatory policies. However, volatile oil prices restricting cash flow of the oil producers which is likely have a negative impact on upcoming pipeline project which in turn is expected to restrain the demand for pipeline leak detection system in oil & gas industry. Competitive Insights: Global leak detection system market for oil & gas industry is segmented on the basis of technology, product type and geography. By technology, negative pressure wave segment is projected to be the most dominant segment due to easy installation along with low installation cost. Considering segment product type, the natural gas segment to be the largest segment over the forecast period (2016-2023) owing to increasing production of shale gas coupled with growing increasing number of gas based economies. The key players in the market are focusing on research & development of new technologies to enhance accuracy of their products. Overall, global pipeline leak detection system market is projected to register significant growth over the forecast period (2016-2023). Key Trends: Merger & Acquisition
Development of new technologies

Kumar Satyam

Kumar Satyam

Growing demand for electricity drive the growth of Transformer Oil Market

Market Insights Increasing power demand due to growth in industrial, commercial and residential establishments fueling the demand for electricity across the globe which in turn is driving the demand for transformers subsequently increase the demand for transformer oil. Besides this, favorable government initiatives in key consuming economies such as India to completely move to electric vehicles on the road by 2030 which is expected to fuel the electricity consumption in India which is subsequently fueling the demand for transformer oil. Furthermore, rapid growth in rural electrification due to various government initiatives in emerging economies such as India and China is expected to impel the growth in demand of transformer which is subsequently projected to drive the demand for transformer oil over the forecast period. However, growing inclination towards dry type transformer and corrosive nature of transformer oil due the presence of sulfur content is projected to hamper the growth of transformer oil over the forecast period (2017-2025). Competitive Insights: Global transformer oil market is segmented on the basis of type, application and geography. By type, mineral oil based segment was the most dominant segment in global transformer oil market in 2016 and anticipated to continue its dominance over the forecast period. Easy availability and affordable prices are projected to be the growth drivers of the segment. Based on application, distribution transformer segment accounted for the largest share in global transformer oil market. Growing demand for electricity due to growing urbanization and rural electrification projected to drive the growth of the segment. On the basis of geography, Asia Pacific was estimated to be the largest market for transformer oil in 2016 and projected to maintain its dominance during the forecast period. Rapid urbanization and growing industrial manufacturing and high growth in rural electrification is expected to impel the electricity consumption in the region which in turn is anticipated to drive the growth of the segment during the forecast period. Major players in global transformer oil market are investing in research and development, merger and acquisition with focus on improve their product portfolio and market penetration. Overall, global transformer oil market is anticipated to register significant growth over the forecast period (2017-2025). Key Trends: -  Merger & Acquisition -  Investment in R&D

Kumar Satyam

Kumar Satyam

Base Oil Market – What Factors will drive the Market in Upcoming Years and How it is Going to Impact on Global Industry The report covers outlook and research for the Base Oil market on a worldwide and regional level.

The purpose of the report is to illustrate the state of the market of Base Oil, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026. Browse here for full report: https://www.credenceresearch.com/report/base-oil-market Why was the report written? This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Base Oil buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry. What is the current market landscape and what is changing? Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017. The report on the market of Base Oil contains: Analysis and forecast of Base Oil market dynamics; Analysis of domestic production, market shares of the main market players; Analysis of exports and imports; Analysis of factors, leading the development of the Base Oil market; Assessment and forecast of Base Oil market development; Financial and business profiles of the leading companies in the Base Oil industry. Scope – Up to date working Base Oil data by major regions in the world, the forecast of planned capacity additions by 2026 – The annual breakdown of capital expenditure spending on proposed Base Oil for the period 2018 to 2026 – Planned Base Oil additions and capital expenditure spending by key countries and companies across the world – Planned capital expenditure spending on new Base Oil projects by region, key countries, and companies – Details of major planned Base Oil projects in the world up to 2026 Also you can request us for sample in pdf with more details and graph:https://www.credenceresearch.com/sample-request/57908  

CR

Radhe thakur

Europe Offshore Wind Energy Market Is Expected To Reach 29.8 GW By 2024

Europe Offshore Wind Energy Market Is Expected To Reach 29.8 GW By 2024: Increasing Investment In Offshore Wind Energy Market Is Projected To Drive The Growth Of Europe Offshore Wind Energy The latest market report published by Credence Research, Inc. “Europe Offshore Wind Energy Market, By Geography- Growth, Future Prospects and Competitive Analysis, 2016 - 2024,” the Europe offshore wind energy market was 13.4 GW in 2016, and is expected to reach 29.8 GW by 2024, expanding at a CAGR of 12.0% from 2016 to 2024. Market Insights Europe offshore wind energy market is projected to witness robust growth owing to increasing investment in offshore wind energy projects. Rising energy demand and growing concerns over the emission of greenhouse gases is influencing the governments to promote the adoption renewable energy source such as wind and solar. Increasing investment in the offshore wind projects especially in Europe is anticipated to fuel the growth of offshore wind energy market. However, high cost of installation, delayed regulatory approvals and stringent labour laws are factors expected to restraint the growth of Europe offshore wind energy market during the forecast period (2016-2024). U.K. was the largest market for offshore wind energy in 2015 among all European countries. Increasing investment in offshore wind energy projects from private sector coupled with favorable government policies such as Energy Act, 2013 and establishment of Offshore Wind Cost Reduction Task Force to achieve levelised costs of offshore wind to £100 per MW/h by 2020 represent high growth for the offshore wind energy market during the forecast period (2016-2024). Germany is projected to be the fastest growing segment among all European countries during the forecast period. High number of approved and pipeline projects coupled with increasing investment from private sector in offshore wind energy is anticipated to fuel the growth of offshore wind energy in the region. The country is anticipated to witness addition of 4.5 GW capacity of installation offshore wind energy from under construction projects in next five years. Further, approval of new projects and pipeline projects is projected to expand the installation capacity to 9.4 GW by 2020. The country also holds second largest market share on terms of installation capacity in Europe. The country is projected to gain significant market share by 2023. Other regions such as Denmark and Netherlands are also anticipated to witness high growth during the forecast period (2016-2024). Considering the competition, the Europe offshore wind energy market is expected to witness a significant rise in investment in research and development with the focus to reduce installation cost of offshore wind installations. Further, market has witnessed strategic mergers and collaborations among Europe offshore wind energy regional and global players. Such growth strategies are focused on increasing their market penetration in consuming economies. Browse the full Europe Offshore Wind Energy Market - Growth, Future Prospects and Competitive Analysis, 2016 – 2024 report at https://www.credenceresearch.com/report/europe-offshore-wind-energy-market

CR

Radhe thakur

Solar Tracker Market Research with Size, Industry impacting factors, Share and Forecast to 2023

The report includes forecast and analysis for the Solar Tracker market on a global and regional level. The research gives important data of 2016, 2017 and 2018 along with a projection from 2018 to 2026 based on revenue. The study covers drivers and limitations of the Solar Tracker market along with the impact they have on the trade over the forecast period. Additionally, the report covers the study of possibilities available in the Solar Tracker market on a global level. Browse detail report @  https://www.credenceresearch.com/report/solar-tracker-market Overview: Trackers direct solar modules or panels toward the sun to harness more sunlight. To accumulate maximize energy these trackers change their orientation during the day to follow the sun’s path. Solar trackers are rising in popularity, as it generates more electricity when compared to its stationery counterparts. Furthermore, favorable government initiatives are projected to augment the market growth. However, owing to the more complex technology and moving parts necessary for their operation solar trackers are slightly more expensive than their stationary counterparts which is one of the major factor restraining the market growth. Also, a solar tracker is more prone to be damaged in a rough weather when compared to the actual panels. Owing to supportive regulatory scenario North America and Europe are projected to witness high demand over the next six years. Italy, Spain, U.S., and Germany are the major regional market for solar trackers. On the other hand, Asia Pacific market offers high potential. Emerging economies are upgrading energy infrastructure to meet the rising demand for power. By product type, single axis tracker accounts for major chunk of the market pie when compare to double axis trackers. Single axis trackers are witnessing growth as it is widely used in residential and commercial application and low cost. The market for solar trackers is highly competitive due to presence of large and well established multinationals.  Array Technologies, Inc, Hao Solar Technology Co. Ltd, Titan Tracker SL, and AllEarth Renewables, Inc, among others are some of the prominent players present in this market. Apply here for the free sample copy of the report @ https://www.credenceresearch.com/sample-request/58151 Global solar tracker market is segmented on the following bases: By Technology PV CPV CSP By Product Type Single Axis Dual Axis Application Utility Non-utility By Geography North America U.S. Rest of North America Europe EU7 CIS Rest of Europe Asia Pacific (APAC) China India Rest of APAC Latin America Brazil Rest of Latin America Middle-East & AfricaKey Players Identified in the Solar Tracker Market include but are not limited to: Abengoa Solar, S.A., AllEarth Renewables, Inc, Array Technologies, Inc., SunPower Corporation, Titan Tracker SL, Powerway Renewable Energy Co., Ltd. and First Solar, Inc. among others. Reasons for Buying Solar Tracker market: This report provides pin-point analysis for changing competitive dynamics     It helps in understanding the key product segments and their future It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia. Do You Have Any Query or Specific Requirement? Ask to Our Industry Expert @ https://www.credenceresearch.com/inquiry-before-buying/58151

CR

Radhe thakur

Data Analytics To Play A Crucial Role In Growth Of Oil & Gas Companies In Coming Years

According to a new market research report published by Credence Research “Oil & Gas Analytics Software Market (Operations – Upstream (Exploration and Drilling Analytics, Production Planning & Forecasting Analytics, Field Surveillance and Monitoring Analytics, Equipment Maintenance Management Analytics, Workforce Management Analytics and Asset Performance Analytics), Midstream (Fleet Analytics, Pipeline SCADA Analytics and Storage Optimization Analytics), Downstream (Pricing Analytics, Commodity Trading Analytics,  Refining Analytics and Demand Forecasting Analytics); Deployment Type – On-premise and Hosted) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global oil & gas analytics software market was valued at US$ 2.34 Bn in 2017 and will be growing at a CAGR of 17.5% during the forecast period from 2018 to 2026. Browse the full report at  https://www.credenceresearch.com/report/oil-and-gas-analytics-software-market Market Insights The oil & gas analytics software market expected to grow at a compounded annual growth rate (CAGR) of 17.5% during the forecast period from 2018 to 2026. The size of the market stood at stood at US$ 2.34 Bn in 2017. Increasing focus on the part of oil & gas companies to focus on data analytics in order to generate growth is one of the most prominent factors aiding the oil & gas analytics software market growth. In recent years, a growing number of oil & gas companies are implementing analytics with an aim to increase revenue. The advent of big data has further complimented the oil & gas analytics software market growth. Oil & gas companies generate a humungous amount of data and over the years with improvements in the process of data collection, has enabled these companies to efficiently utilize data and improve the business processes. The fact that implementation of data analytics helps oil & gas companies to reduce costs is further bolstering its adoption in companies. Moreover, with real-time analytics gaining in prominence and data continuing to offers significant growth opportunities, the oil & gas analytics software market expected to witness significant growth during the forecast period. However, data privacy and ownership concerns remain major market growth inhibitors. Further, the need for companies to comply with legal and regulatory regulations expected to be another major challenge influencing the market growth negatively. North America stood as the largest market for oil & gas analytics software in 2017 and expected to remain a lucrative market for investment during the forecast period from 2018 to 2026. The region held a share of more than 35% of the overall market value. Increasing exploration and production activities in the region has been an important factor contributing to the oil & gas analytics software market growth in North America. In recent years, exploration and production of unconventional oil and shale gas in the region has been on the high, a factor positively influencing the oil & gas analytics software market growth. Some of the major players operating in the oil & gas analytics software market include Hitachi, Hewlett-Packard, IBM, Oracle, Northwest Analytics, SAS Institute, SAP AG, Tibco Software, Teradata and Cisco Systems among others. Market Synopsis Key questions answered in this report What was the global oil & gas analytics software market size in 2017 and forecast for 2026? What are the current trends in the oil & gas analytics software market? What are the various valuable opportunities for the players in the market? Which is the largest regional market for oil & gas analytics software? Which region expected to be the fastest growing and why? What are the future prospects for the oil & gas analytics software market? What are the major drivers and restraints influencing the market growth? What are the key strategies adopted by the leading players in market?

CR

Radhe thakur

Marcellus (PA) – update through September 2018

This interactive presentation contains the latest gas (and a little oil) production data, from all 8,512 horizontal wells in Pennsylvania that started producing since 2010, through September. Visit ShaleProfile blog to explore the full interactive dashboards Gas production from horizontal wells came in higher again in September, at 17.4 Bcf/d. Output has grown by about 10% in the 4 preceding months, driven mostly by an increase in well completions; In both August and September, 107 wells started production, the highest since the end of 2014.   This increase in completion activity didn’t have a negative effect so far on well productivity. In the ‘Well quality’ tab you’ll find the production profiles for all these wells, averaged by the year in which they started. Group the wells by the quarter in which they started (using the ‘Show wells by selection’), and you’ll see that the best initial performance came from the wells that started in Q3 this year, at over 13 MMcf/d.   Of the 5 leading operators, Cabot stood out as it increased gas production by 18% in just 2 months (see the final tab). The ‘Advanced Insights’ presentation is displayed below: This “Ultimate Return” overview shows the relationship between gas production rates, and cumulative gas production, averaged for all horizontal wells that started producing in a certain quarter. Well design has changed significantly over the years; in 2012 about 4 million pounds of proppant was used per completion, on average, while this has recently increased to over 18 million pounds. The plot clearly shows how this has had a positive impact on well productivity. Early next week I will have a new update on the Niobrara.   If you missed our live chat last Tuesday with John Sodergreen and Het Shah, about the Permian Basin, you can still read back our discussion here in the enelyst ShaleProfile Briefings channel. Next week Tuesday, at 10:30 am (EST), we’ll take a closer look at gas production in Pennsylvania, and there is enough time to ask questions. If you are not an enelyst member yet, you can sign up for free at www.enelyst.com, using the code: “Shale18” Happy Thanksgiving! Production data is subject to revisions. For this presentation, I used data gathered from the following sources: Pennsylvania Department of Environmental Protection FracFocus.org   Visit our blog to read the full post and use the interactive dashboards to gain more insight http://bit.ly/2DVzQLg   Follow us on Social Media: Twitter: @ShaleProfile
Linkedin: ShaleProfile
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shaleprofile

shaleprofile

North Dakota – update through September 2018

These interactive presentations contain the latest oil & gas production data from all 14,050 horizontal wells in North Dakota that started production since 2005, through September. Visit ShaleProfile blog to explore the full interactive dashboards Oil production in North Dakota jumped to 1,359 kbo/d in September, a month-on-month increase of more than 5%, which again set a new record. Just over 150 wells were brought into production, the highest number in more than 3 years. The year-to-date number of new producers is now almost the same as for the full 2017 (933 vs. 992).   The 2nd tab (“Well quality”), shows that recent wells are performing initially slightly better than those from 2017. Lateral lengths have slowly increased in the past couple of years, to just over 10k feet on average. Proppant loadings have increased faster, and have more than doubled in the past 4 years, to an average of about 10 million pounds per completion. This is still significantly below the average completion size in the Permian or the Eagle Ford (~15 million pounds).   In the “Well status” tab you can find the status of all these wells. By selecting just the status “DUC”, you’ll find that the number of drilled, but uncompleted wells has fallen in the summer months, to almost a 5-year low.   You can find in the last tab (“Top operators”), that all major operators were able to grow production in September, with Continental Resources clearly in the lead.   The ‘Advanced Insights’ presentation is displayed below: This “Ultimate recovery” overview shows how all these horizontal wells are heading towards their ultimate recovery, with wells grouped by the year in which production started. You can see more granular and recent data by grouping the wells by quarter or month of first production. The improvements in initial performance in recent years are clearly revealed here. Interestingly, you can see that later in life the wells from 2009-2011 experience a shallower decline than later wells. This holds even if you exclude the wells that have been refractured (which is possible in our online analytics service). Later this week I plan to have a new post on the Marcellus, followed by updates on the Niobrara and the Permian next week.   We are now collaborating with enelyst, an online chat platform for energy traders and analysts. We’ll host a weekly show there every Tuesday at 10:30 am (EST) for about 30 minutes, starting with today! Each time, we’ll take a basin and explain some significant trends in more detail, utilizing the latest insights we get from our ShaleProfile Analytics service, and we are open to Q&A. You can join it live, or later on the day review the discussions at your own leisure. You can join as follows: If you are already an enelyst member: Jump directly to the ShaleProfile Permian basin update this Tuesday at 10:30 am EST by hitting the channel link: Enter the ShaleProfile Briefings Channel If you are not yet an enelyst member: Sign up for free at: www.enelyst.com
Using the code: “Shale18”   For these presentations, I used data gathered from the following sources: DMR of North Dakota. These presentations only show the production from horizontal wells; a small amount (about 30 kbo/d)  is produced from conventional vertical wells. FracFocus.org   Visit our blog to read the full post and use the interactive dashboards to gain more insight http://bit.ly/2S4gJSm   Follow us on Social Media: Twitter: @ShaleProfile
Linkedin: ShaleProfile
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shaleprofile

 

Smart Technology Needs Smart Regulators

The title of this article piece caught my ear when I was watching a debate that was held at the recent Bali Fintech conference, where the President of Indonesia made an outstanding speech that was appreciated by many members attending, he made one reference to the popular series "The Game of Thrones" where he said "Several great houses, great families, battle each other fiercely to seize control over the ‘Iron Throne' He also made the following statements: "Preventive excessive government interference too early in the process of innovation". "Give the innovative the confidence to experiment without having the fear of civil or criminal liability". A recent article published in the Jakarta Post in reference to geothermal, where Pak Prijandaru Effendi the chairman of the Indonesian Geothermal Association (API) dismissed the government's claims of the geothermal success story, where he said that this has needed more than three decades to succeed. In my opinion four very good statements, there is no doubt that regulations are holding back innovation and technology in many sectors of industry in the country including the exploration industry. There is no doubt that excessive government interference is holding back development and there is no doubt that the fear of being victimised because you have made a business decision which was not successful in terms of financial loss is helping to increase Indonesia's imports for oil and gas as well as delaying the geothermal development that Indonesia has so much potential for. Geothermal development does take time, on average from the early exploration stage to production can take eight years or more, in some cases it has taken 15 years, therefore taking credit for geothermal that is coming online today has taken many years of development as well as huge amounts of money, (much of which has been lost by the investor), is not correct. There are worrying signs that the targets set by the government for renewable energy will not be met, it is understood that this has been verbally stated that instead of 2025 it will now be 2030. It is fair to say that the government of Indonesia has not invested as it should have done in the natural resources that it has in its own backyard, the reliance of investors in the past is not what the future holds. Many of the geothermal power plants that have been developed have been in areas that shall I dare say easier to develop than several of the options that are available today, geothermal is a complex and difficult resource to develop, hence the reason that so many coal-fired plants have been and still continue to be developed, the cost difference of a coal-fired plant compared to a geothermal plant is substantial. Geothermal Development costs US$8 million per 1 MW (in comparison to US$2 - 3 million for coal) or approximately US$400 million for a mid-sized 50 MW plant. The four statements highlighted what is and is not happening in the geothermal, oil and gas industries, which is down to the people who are a part of the "Game of Thrones" in Indonesia. They are stopping what the President is saying should happen. There is also another added problem, which is supported by a comment from Fintech, "Geopolitics is becoming more important than energy", it certainly appears that way with the run-up to the election next April. I was in a recent meeting where I was told that the government's exploration budget for 2018 is 60 billion Rupiah (less for 2019), or US$4.1 million, this is a very small amount of money considering the cost of conventional exploration methods. We have heard so often that Indonesia needs to explore and it needs investment, but if you are only going to invest peanuts yourself, how will you attract other investors? Another person told me that it appears that Indonesia has lost the appetite for exploration, if this is the case, why are they complaining about the cost of importing oil to meets its daily demand? A recent regulation to lift the charges for oil and gas block data was made, this previously could cost up to US$80,000. The move is an attempt to attract more companies to bid in the upstream sector, This is an interesting development, but will it really attract more interest? As far as I am aware, the data that is available is normally of a poor quality and any investor will be taking a very high risk in bidding for any block based on this data. It is considered that the cost of US$80, 000 is very small and that investors would be willing to pay far above this sum if there was reliable data available. "The bitterness of poor quality remains long after the sweetness of a low price is forgotten" Personally, I am not seeing that the government is looking at the real problem that is not attracting investors, scrapping the charge for oil and gas data is scratching the surface of what needs to be done, what needs to be done is simple, exploration with technology that is supported by conventional exploration methods. Knowing the full potential of any area is important. Giant, mature oil fields all have potential, hidden geothermal reservoirs also have potential, we just need to know where they are and what they contain. Why are they not developing areas that do contain large resources, such as one area in Lampung that contains one billion barrels of oil, or another area that is reported to have 40 billion barrels of oil? When a respected person mentioned these to me, I said, who is listening, he replied, “no one”. Business conducive regulations are needed, smart technology is needed, they both go hand in hand, this does not appear to be the case in Indonesia at this time. Technology and financing are two different sides of the coin. Technology providers are NOT supposed to bring financing, the Indonesian government is expecting both. This article was written by myself and was published in the Jakarta Post on Friday 16th of November 2018.

George A Barber

George A Barber

 

Pt. 2 Electric and Hydrogen Vehicles - the crucial difference between a Media Interview and a Presentation?:  Conclusions

Pt. 2 Electric and Hydrogen Vehicles - the crucial difference between a Media Interview and a Presentation?:  Conclusions The Presentation might now continue as follows (from Pt.1)  ... "The West's rush for EV's still requires inhumane conditions and poverty to persist  - e.g. in DRC mines, where the biggest cobalt reserves are currently found. The West's clean air comes at a high human cost. All this for EV car batteries, (also batteries for smartphones, tablets etc).    There's another elephant in the room. EV's will require a vast infrastructure of electric charging points. Think of all those huge apartment blocks housing car owners.  Both EV's and HV's need a large amount of initial energy. EV's need it continuously to feed the huge infrastructure of charging points. The demand will keep growing as well. HV's need it to produce the hydrogen fuel itself, but the vehicle fuelling infrastructure is already present with networks of petrol stations. Natural Gas and LNG are still vital for generating the energy of EV's and HV's. (Renewables are too inconsistent and paltry; subsidised by high energy bills - which penalises the poor, not the rich - create more emissions in their manufacture, construction, maintenance and dismantling than they re-pay, and in the case of solar panels are full of toxic waste that cannot be disposed of)."Green is not as green as it appears to be. On top of which environmentalists are very quiet on the carnage being meted out to flying creatures.  Hydrogen vehicle fuel is making ground. Germany has just launched its first hydrogen train. California and Hawaii are just two US states fully developing hydrogen fuel. NASA uses hydrogen fuel to launch space shuttles.   Natural Gas - LNG (and nuclear, where the waste is not "waste" but a resource that can be returned to) are abundant sources for generating the energy required to produce the Hydrogen. Mozambique is becoming a new supplier in Africa   So, the presentation might then come to its conclusion: Hydrogen is a simple element; found throughout the universe. It doesn't come from exploiting human poverty. What are the HV emissions? Water."   Here's the point and the crucial difference between the Presentation and the Media Interview.    In the Presentationwe tend to work towards our conclusions, showing the proof on the way. In the Media Interview(especially TV, Radio and any broadcast) you might only have 15-30 seconds to give an answer, so always start with your conclusion. You can elaborate on the reasons if you then have some more time to use.   Contact: rogercrisp@gmx.co.uk / rogercrisp.com / Linkedin: Roger Crisp (Consultancy) Media Advisor & Trainer / Speaker-Presenter on: - Dealing effectively with the Media (TV, Radio, Press, Blog, Vlog) - Climate Change - Energy

Roger Crisp

Roger Crisp

 

Electric and Hydrogen Vehicles - the crucial difference between a Media Interview and a Presentation? pt.1

Electric and Hydrogen Vehicles - the crucial difference between a Media Interview and a Presentation? pt.1 "The West's rush for EV's lacks perspective. The main forces pushing the EV industry are rarely mentioned, nor is the 'elephant in the room' ". This is a good clear start to a Presentation but terrible for a Media interview. There might not be time to add the details.   The Presentation continues ... "The two main forces are: the guilt-agenda of green lobbying power on governments and industry; and resulting government initiatives pushing EV's in a bid to signal green credentials and garner votes. The 'elephant' is about how all the massive extra amount of required electricity will be produced - certainly it won't be by renewables, which represent, even now, only a tiny percentage of world energy production.  Natural Gas and LNG are currently abundant, relatively clean, excellent sources of electricity generation and fuel for vehicles. China despite its lip service to Greenery is currently building coal-fired power stations. Germany is unwinding its Green leadership and exploiting coal again to reduce domestic and industrial costs."  How would the Media Interview best be started? See the Presentation's conclusion in part 2. Contact: rogercrisp@gmx.co.uk / rogercrisp.com Speaker & Conference Presenter on Energy - Climate Change / Media Interview Advisor & Trainer

Roger Crisp

Roger Crisp

 

So About That Petronas Dividend From Its Cash Reserves

The Petronas Dividend of RM 30 Billion has been in the Malaysia news lately. Here's an excerpt from an article yesterday: Pakatan MP questions need to use Petronas reserves for special dividend A Pakatan Harapan MP today questioned the rationale in using 36% of national oil company Petroliam Nasional Bhd’s cash reserves for the special dividend of RM30 billion. Wong Chen (PH-Subang) pointed out that Petronas’ cash reserves, as of last year, stood at RM128 billion, and the profit after tax was RM46 billion. “This worries me because we know there is a huge possibility Malaysia will be stuck in the trade war between US and China. “If we use all the money now, the financial power of RM54 billion, we may run out of ‘financial bullets’ when the crisis really hits,” he said in the Dewan Rakyat when debating the Budget 2019. The RM30 billion special dividend is part of RM54 billion that Putrajaya is asking from Petronas next year. It will be utilised to fully settle the outstanding tax refunds estimated at RM37 billion — RM18 billion in income tax and RM19 billion in goods and services tax (GST). Wong stated that while he understood Finance Minister Lim Guan Eng’s anger and frustration in inheriting the financial woes of the previous administration, he was of the view that Parliament needs a guarantee that a special dividend of this nature cannot be repeated in next year’s budget.   Yesterday, I had commented on LinkedIn a bit about this. Generally, my view is that if this is a one-off higher than normal dividend from Petronas, then it shouldn't be a problem. My concern is if this is an old crutch that is getting long in the tooth from decades-old age and too much reliance on Petronas to provide money. For some perspective, let me turn back the clock a couple years, when I interviewed Dr. Mahathir about Petronas in 2016. Here is an excerpt of my one-on-one interview: Interview with Former Petronas Advisor Dr. Mahathir Mohamad Dr.  Mahathir bin Mohamad was the 4th Prime Minister of Malaysia. He held the post for 22 years from 1981 to 2003, making him Malaysia's longest-serving Prime Minister. After stepping down as Prime Minister, Dr. Mahathir took on the role of Petronas Advisor in 2003. On March 11 2016, the Malaysian government terminated the services of Dr. Mahathir, due to a political dispute between former Prime Minister Mahathir and the current Prime Minister Najib Razak. The Prime Minister's Office said in a brief statement that the Cabinet had discussed the actions of Dr. Mahathir, and decided that since he was "no longer supporting the current Government, he should no longer hold any position related to the Government." On 30th March 2016, Dr. Mahathir was kind enough to agree to an interview with Oilpro Moderator Tom Kirkman, to discuss Petronas. ... Question:  In August 2015, the Petronas CEO told reporters that Petronas had RM 126 billion in cash reserves.
And in January 2016, the Petronas CEO told reporters that Petronas had RM 88 billion in cash reserves.
That's a RM 38 billion reduction in Petronas cash reserves in 5 months.
What is your opinion on Petronas current cash reserves? Dr. Mahathir:  Well, Petronas is regarded by the government as some kind of cash cow.  When the government is short of money, or needs to have some investment, usually they pump it off on Petronas.  And currently, the government is really short of money.  They have mismanaged things, including borrowing huge sums of money.  So they are in deficit.  And what we do know is that they have been cutting back on budgets, by 20% last year, and again 20% this year.   I am told that Petronas was told to make up for the loss of government revenue.  And of course Petronas reply was that they need the money for their capex. They have to invest all the time.  I think the rumors are they were told “Look, you are a government company. You are 100% owned by the government. Whatever you earn belongs to the government.  You give the money to the government, then you can borrow.  If you need money, you can borrow.” It would seem that the government finds difficulty borrowing.  So, asking Petronas, which has more credit-worthiness, I think, is the way for them to borrow.
  Things have changed quite a bit since that interview in March 2016. Personally, I think Dr. Mahathir and Lim Guan Eng (the Finance Minister) and the new federal government are doing an overall great job in rescuing and repairing the country's financial mess, left behind by the previous administration.  Notably, working to clean up the mess of 1MDB. And I understand a stop-gap measure of increasing the Petronas Dividend this year to help alleviate the budgetary shortfall as the federal government works to pay down earlier commitments and reduce debt.  Again, cleaning up the financial nuclear fallout from 1MDB won't happen overnight. This time around, Petronas actually has sufficient cash reserves to pay a higher dividend. Compare that with the situation a couple years ago... here's another question and answer from my interview in 2016: Question: Petronas has recently stated that they may have to borrow money in order to pay their RM 16 billion dividend for 2016. Petronas originally wanted to pay only RM 9 billion in dividends for this year, but the government announced that Petronas was going to pay RM 16 billion in dividends for this year. About a month ago, Petronas announced that they will likely have to go in debt in order to pay the government dividend this year.  Do you have an opinion about that? Dr. Mahathir: Well, I think the government, as I said just now, is short of money. Petronas will have problems paying them more than what Petronas can afford. But the government is in such a desperate state, that they don’t care what happens to Petronas. As I said just now, Petronas can borrow money more than the government can borrow. So Petronas will have to cough up the amount of money that the government directs it to pay to the government.     Again, if this is a one-off higher than normal Dividend this year from Petronas, then it should be no problem. Next year, the dividend should be reduced, to allow Petronas to re-invest more in new Exploration & Production activities, both domestic and overseas.   Just my opinion; as always, you are free to disagree.   “I have always strenuously supported the right of every man to his own opinion, however different that opinion might be to mine.  He who denies to another this right, makes a slave of himself to his present opinion, because he precludes himself the right of changing it.” – Thomas Paine (1737-1809)  

Tom Kirkman

Tom Kirkman

US - update through July 2018

This interactive presentation contains the latest oil & gas production data from 95,093 horizontal wells in 10 US states, through July. Cumulative oil and gas production from these wells reached 9.3 Gbo and 102.9 Tcf. Ohio and West Virginia are deselected in most dashboards, as they have a greater reporting lag. Visit ShaleProfile blog to explore the full interactive dashboards Oil and gas production from horizontal wells kept setting new records through the first 7 months of this year. The 5,600 new producers contributed ~2.2 million bo/d and 10.4 Bcf/d in July, versus 4,600 new producers in the same period last year (which contributed 1.6 million bo/d and 9.1 Bcf/d in July last year).   The steady increases in well productivity between 2012 and 2017 are clearly visible in the 2nd tab, ‘Well quality’, where the oily basins have been preselected. Almost 12 thousand wells were completed in these plays in 2014, more than in any other year, which is why this curve is drawn with the greatest thickness. The final tab shows the production and location of the wells operated by the largest operators, as measured by their cumulative production in the past decade. The ‘Advanced Insights’ presentation is displayed below: This “Ultimate recovery” overview shows the relationship between production rates and cumulative production over time. The oil basins are preselected, and wells are grouped by the year in which production started. You can see in the graph above that the 7,600 wells that started in 2017 recovered on average almost 100 thousand barrels of oil in the first 8 months on production, while declining from 600 bo/d to 274 bo/d. More recent and granular data can be seen by grouping the wells by the quarter or month in which production started.   The 2nd tab, ‘Cumulative production ranking’, ranks all counties with horizontal production based on cumulative oil production. McKenzie and Mountrail counties, both in North Dakota, are in the lead, but Karnes (Eagle Ford) and Weld (Niobrara) are catching up on the number 2. Early next week I will have a new post on North Dakota, which will soon release September production data. In our ShaleProfile Analytics service we keep all data up-to-date on a daily basis, and for most states we already have August or even September production in. If you’re interested, you can request a demo or trial here. Production data is subject to revisions. For these presentations, I used data gathered from the sources listed below. FracFocus.org Colorado Oil & Gas Conservation Commission Louisiana Department of Natural Resources. Similar as in Texas, lease/unit production is allocated over wells in order to estimate their individual production histories. Montana Board of Oil and Gas New Mexico Oil Conservation Commission North Dakota Department of Natural Resources Ohio Department of Natural Resources Pennsylvania Department of Environmental Protection Texas Railroad Commission. Individual well production is estimated through the allocation of lease production data over the wells in a lease, and from pending lease production data. West Virginia Department of Environmental Protection West Virginia Geological & Economical Survey Wyoming Oil & Gas Conservation Commission   Visit our blog to read the full post and use the interactive dashboards to gain more insight http://bit.ly/2DBiiE9     Follow us on Social Media: Twitter: @ShaleProfile
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Thoughts on Multiculturalism in Europe

Twenty-plus years ago I lived in England, had a Sri Lankan boyfriend, an Israeli best friend who shared a flat with a Palestinian guy, and a Persian housemate. This is still my idea of multiculturalism. Yet 20 years later what I read and see about Europe -- and Turkey but that's a different question altogether -- suggests the multicultural model governments have been shoving down people's throats has begun to backfire and it is backfiring spectacularly. Take the hidden camera film about the encapsulated Muslim neighbourhoods in Paris. This is no spin and no fake news. I have a friend who lives and Paris and she has vouched for the genuineness of these neighbourhoods. There are similar places in Germany, too, if we are to believe none other than Angela Merkel, who said in an interview such encapsulated areas have no place in the German society. Ironic, given she put a lot of effort into taking migration to ridiculous levels. Then there's Denmark, where I saw (hopefully because I only had three days) multiculturalism still working, probably because the country, as far as I remember, limited its intake of economic (sic) refugees. There I saw people of various colors all smiling and friendly, as befits one of the happiest nations in the world. And then I saw a boy that eyed me suspiciously for several minutes until I felt extremely uncomfortable (I went out to smoke and forgot the keys to the Airbnb, okay? Don't tell anyone). That one single boy is new to the country, I'm sure. I really hope he won't look at this very typical Middle Eastern way at people in five years. Because he will have assimilated. Assimilation is the only sensible way of actually accomplishing multiculturalism that doesn't give rise to racist extremists. I will here quote Mr. Schwarz, an expat in a country neighbouring his home one, who, after 20 years here says "We" when he talks about the locals and "they" when he talks about his countrymen and countrywomen. The only way to have a decent life in a foreign country even one that is culturally close to your home one, is to assimilate, learn the language and the culture, and make it your own. This emphatically does not suggest you need to give up your own culture or religion. What it does suggest is that if you want to live in a society you need to become a part of it, rather than an appendage that feeds from a society, operates in it, but remains a separate part of that society and, ultimately, does not contribute to the greater good. That's what encapsulation is all about and to me, it is the one single negative aspect of the recent migration waves that can bring the whole European Union down. How did we get here? We need to thank PC gone mad and congenital human stupidity. The more you force a group of people to accept something new and unfamiliar as normal and familiar without giving them enough time to process this thing, the more they will clench their teeth and refuse to eat it. The pendulum, as I like to say, always swings. The further it swings into one direction, the further it will then swing into the opposite one. it's just one of these laws that can't be violated. And personally, I believe Western Europe is being so stupid because they have no group memory of the Ottoman empire ruling over them. We do although we won't continue to have this memory for long as history is being rewritten. Literally.

Marina Schwarz

Marina Schwarz

Eagle Ford - update through July 2018

This interactive presentation contains the latest oil & gas production data from all 21,344 horizontal wells in the Eagle Ford region, that started producing since 2008, through July. Visit ShaleProfile blog to explore the full interactive dashboards In July 228 horizontal wells started production, the highest number in more than 3 years. Although the graph above shows a dip in production in July, this is partially because of reporting lag, and I expect that when these wells have a full month on production in August total output will show a bump.   Average production profiles haven’t changed much in the past couple of years, especially since 2017, as you can see in the ‘Well quality’ tab. Laterals (at ~ 7k feet) didn’t get any longer in 2018, while proppant intensity increased with about 10%. More information on these trends can be learned in our ShaleProfile Analytics service.   EOG is already for more than 5 years the top oil producer in this area, and it currently operates about 20% of total production capacity (“Top operators”).   The ‘Advanced Insights’ presentation is displayed below: In this “Ultimate Recovery” overview, the relationship between production rates and cumulative production is revealed. Wells are grouped by the year in which production started. These curves appear to bend slightly downwards, hinting at a hyperbolic decline with a b-value smaller than 1. Production profiles with a harmonic decline (= hyperbolic decline with a b-value of 1) show up on this type of plot as a straight line. The wells that started in 2014 (the year which saw the greatest number of new producers), are on track to recover on average 150 thousand barrels of oil (and ~0.6 Bcf of natural gas) before hitting a production rate of 30 bo/d.   Devon and ConocoPhillips are still showing the best well results on average, as measured by the cumulative oil production in the first 2 years (see “Productivity ranking”).   Early next week we will have a post on all 10 covered US states.   Production data is subject to revisions, especially for the last few months. For this presentation, I used data gathered from the following sources: Texas RRC. Production data is provided on lease level. Individual well production data is estimated from a range of data sources, including regular well tests, and pending data reports. FracFocus.org   Visit our blog to read the full post and use the interactive dashboards to gain more insight http://bit.ly/2Jtl5zq     Follow us on Social Media: Twitter: @ShaleProfile
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