Petroleum Review - January 2010
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Editorial – Solving riddles to find success
E&P – DIGITAL OIL FIELDS
Digital oil fields impact process rather than technologyDigital oil field developments continue to gather pace in new and existing fields. Significant benefits are being gained, but most companies are still in the early adoption phase according to leading service suppliers like Schlumberger and Halliburton. Moreover, the key benefits are being achieved in process optimisation rather than simply new technology innovation. Brian Davis reports.
CLEAN COAL – CCS
How CCS can protect the planet and global economy
Michael J Nasi* and Travis W Wussow of Texas-based law firm Jackson Walker outline how clean coal technology and carbon capture and sequestration (CCS) can help protect both the planet and the global economy.
GULF OF MEXICO – E&P
New prospects offshore Gulf of Mexico
Optimism for future offshore Gulf of Mexico production is focused on the ultra-deepwater Lower Tertiary Wilcox formation. To date, more than a dozen discoveries, listed in Table 1, have been announced in this formation, writes Judith Gurney.
E&P – FINANCE
Increased debt funding for UKCS
The oil and gas industry is renowned for its cyclicality, but the volatility of late has been unprecedented. Over the last 18 months since their peak in July 2008, there have been serious movements in oil prices, as well as a hazardous credit crunch and the consequent tightening of capital markets. However, the climate seems to be changing. We are seeing renewed optimism in the sector, fuelled by improving demand, slowly recovering world economies, improved investment in infrastructure and – crucially for small and medium-sized independents – increased access to debt funding. AndrewMoorfield* (pictured), Head of UK Oil & Gas, Lloyds Banking Group, explains.
LATIN AMERICA – MEXICO
The need for liberalisation
The underperformance of Mexico’s national oil company Pemex is closely connected to the country’s struggling economy and proof of the urgent need to reform its oil industry. Pacifica Goddard reports from Caracas.
FUELS – MICROBIAL CONTAMINATION
Bug attack
Growth of microorganisms in petroleum products has been recorded since 1895, causing fouling, malfunction and corrosion in storage tanks, equipment, pipelines, filters and engines. Over a century later, microbial activity in fuel is on the increase. Phil James, PureFuel Technologies, explains why.
Features
LAW – BRIBERY
The very, very long arm of the law
It is probably fair to say that, historically, the oil industry does not enjoy an untarnished reputation for transparent dealing. While practices today have changed beyond all recognition, decision makers will be paying close attention to the global crackdown on bribery and corruption. Catriona Munro (pictured), Partner in the EU Competition and Regulatory Team at Maclay Murray & Spens, explains.
CANADA – OIL SANDS
Hope springs eternal
The oil sands are back, writes Gordon Cope.
EUROPE – ENERGY POLICY
Europe's energy foreign policy
The European Union has spent the past two decades expanding the activities and power of Brussels in two policy areas – external relations and energy. Growing reliance on outside countries to supply oil and gas means these two policy areas are increasingly aligned, writes Giles Broom. Meanwhile, new powers created by the Lisbon Treaty could add further impetus to a combined energy foreign policy.
ITALY – ENERGY POLICY
Energy policy despite the EU
Italian Premier Silvio Berlusconi has been receiving gushing praise in the mainstream international media for his personal approach towards energy policy – follow national interest and ignore the European Union (EU). Similar policies have been pursued by larger EU members such as Germany and France despite criticism from many smaller EU members, especially in former communist states. Now, even the capital markets like the bilateral approach, writes Maria Kielmas.
UK – POWER
UK power generation – past, present and future
John Westwood, Chairman, Douglas-Westwood, provides a review of the energy business analyst’s latest report* which focuses on the market for developing and constructing power generation capacity in the UK.
EI TECHNICAL – SAFETY
Process safety showcase
The Institution of Chemical Engineers (IChemE) convened its Hazards XXI symposium in Manchester, UK, on 9–12 November 2009. Around 400 process safety specialists attended the symposium, at which over 100 peer-reviewed papers were presented. The theme was process safety and environmental protection. Three papers showcased EI Technical publications with the objective of sharing knowledge from the EI’s Technical Work Programme across process industry sectors. Mark Scanlon, Technical Team Manager – Safety, Health and Environment, reports.
FEATURES LIST 2010
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