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Petroleum Review - June 2013

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Perspective
Oil supply prospects – famine or feast?
Jim Skea OBE FEI, Research Council’s Energy Strategy Fellow, Imperial College London

DRILLING – ENVIRONMENT
Green grows my pasture

It might appear that ‘green drilling’ has suddenly become sexy, but the task of reducing upstream’s environmental footprint has been going on for almost a decade, writes Gordon Cope.

DRILLING – CASE STUDY
Simplifying well integrity management
Well integrity management is becoming a vital element in managing corporate risk for operators as spills and leaks through loss of integrity can harm people, the environment and a firm’s reputation. Here, we look at how Statoil has tackled the issue.

TRADING – OIL
Pay attention – the oil market is changing

Recent changes in the oil trading market and unregulated changes to benchmark contracts, including the debacle on the inclusion of quality escalators and de-escalators in the 25-day BFOE contract, are the tip of a rather large iceberg, writes Liz Bossley, CEO of Consilience Energy Advisory Group (research by James Walmsley).

TRADING – GAS
Developing a natural gas trading hub in Asia
Natural gas has the potential to improve energy security and economic and environmental performance in the Asia-Pacific economies. However, expanding its role will depend on regional market conditions that allow gas to compete autonomously in energy markets which are themselves connected to the global energy market. A new report from the International Energy Agency (IEA) focuses on the obstacles and opportunities for the Asia-Pacific economies to establish natural gas trading hubs that will allow gas prices to reflect local demand and supply.

LATIN AMERICA – ARGENTINA
From investment risk to pariah state?

The Argentine government is expanding its grip on the energy sector, introducing controversial judicial reforms and warming to Iran, writes Maria Kielmas.

CARIBBEAN E&P
Caricom energy mix
Although the 15 member countries of the Caricom group have decided to base their now approved regional energy plan on ‘sustainable energy’ – whose twin pillars are renewable energy and energy efficiency – none has decided to forego domestic oil and gas resources if they can find them. David Renwick reports.

CARIBBEAN ENERGY
Getting inter-connected
The scattered island-nations of the Caribbean archipelago are steadily moving to integrate their energy sectors as part of a wide-ranging energy policy for the region that will complement the free trade in goods and services which has long existed, writes David Renwick.

LATIN AMERICA – BRAZIL
A brighter picture
The news that three auctions are to be held this year brightens the E&P picture in Brazil, reports Patrick Knight.

GAS-TO-POWER – GLOBAL
Watts happening
Worldwide energy sources and uses are changing rapidly. Gas-to-power (GTP) is gaining ground in some countries but losing in others, reports Gordon Cope.

POWER – COMMISSIONING
Getting fired up
Amin Almasi, Rotating Machine Consultant, offers some practical suggestions on how to commission power generation facilities safely and efficiently while minimising time and costs.

EI TECHNICAL OFFSHORE WIND
EI enters offshore wind arena

Alongside a long-standing technical programme covering the oil and gas industry, the Energy Institute (EI) is now moving to support the renewables sector. The G9 Offshore Wind Health and Safety Association has partnered with the EI to deliver a technical work programme looking at health and safety issues for offshore wind. Here, Martin Maeso and Andrew Sykes explain how the partnership will work and where efforts will be focused during 2013.

ALTERNATIVE FUELS – ELECTRIC VEHICLES
Going full circle
Inspired after reading the article entitled ‘Plugged in fleets’ in the January issue, Dr Roger Cairns FEI proposes the UK should take an age-old transport solution to resolve a new-age fuelling problem.

POWER – ENERGY NETWORKS
EU energy network priorities take shape

Summer 2013 marks an important milestone in the evolution of the European Union regulatory framework and financial support for Trans-European Energy Networks (TEN-E) that will contribute towards the European Commission’s goal of a single-energy market for gas and electricity. Oil and carbon dioxide (CO2) transport from carbon capture and storage systems also figure in the picture, reports Robert Stokes.

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