The intricate and indirect linkage between Covid-19 global pandemic and the oil and gas trade balance of Indonesia

2021 ◽  
Author(s):  
Mustamina Maulani ◽  
Andry Prima ◽  
Lisa Samura ◽  
Astri Rinanti ◽  
Bayu Satiyawira ◽  
...  
Keyword(s):  
Trade Balance ◽  
Oil And Gas ◽  
Global Pandemic ◽  
Indirect Linkage

How Brazil Operators and Regulators Implemented, Audited and Learned from COVID-19

2021 ◽  
Author(s):  
Nathan Biddle ◽  
Jorge Siqueira ◽  
Anne Guedes ◽  
Mariana França ◽  
Nayara Ferreira ◽  
...  
Keyword(s):  
Emergency Response ◽  
Oil And Gas ◽  
Service Providers ◽  
Gas Production ◽  
Hazard Identification ◽  
Positive Outcomes ◽  
Worst Case ◽  
Effective Response ◽  
Global Pandemic ◽  
Exploration And Production

Abstract The COVID-19 pandemic brought with it the potential risk for personnel abandonment of various oil and gas installations that was unprecedented in the industry. Uncertainties on how to implement and monitor these processes was a significant challenge. This pandemic scenario required that operators and regulators work together to reformulate their normal way of working to decrease the risk of virus exposure to personnel, while still ensuring critical elements were implemented for safe operations. Regulators were required to act quickly to implement and adjust regulations to meet the new demands for safe operations during the global pandemic. Through joint discussions with industry associations and an understanding of the situation, the Brazilian oil and gas industry regulator, ANP, was able to immediately implement tracking requirements and, within less than one month after formal declaration of a state of emergency, issued new regulations for the restart and operations of installations. These measures assisted in a better understanding of the COVID-19 situation onboard offshore installations and in disseminating learnings across Exploration and Production (E&P) industry. Operators across Brazil all implemented modified emergency response plans, new hazard identification measures and means to reduce the risks of these identified hazards in response to COVID-19. The ANP worked to oversee the manner in which these measures were conducted, while successfully assisting in reducing demands on offshore work during the pandemic by migrating to a fully-remote means of regulatory enforcement and auditing. Regulators and operators all worked across five key areas and within the joint efforts significantly mitigated the impacts which COVID-19 had on the industry in Brazil. These key areas were: Operational Safety Documentation, procedures within the regulations and management system to cope with the pandemic scenario; Tracking of COVID-19 cases and effective response measures/learnings across industry; Hazard Identification related to the operational conditions impacted by the COVID-19 crisis; Risk Assessment for the identified hazards because of the pandemic; and Emergency Response plans for response to the worst-case operational scenario during a pandemic. Although severe outbreaks did occur on several installations, causing temporary shutdowns, there have to date been no major operational accidents as a result of COVID-19 personnel evacuations or procedures. Additionally, the total oil and gas production levels for Brazil have been maintained or increased across the sector. These high-level performance indicators demonstrate that through the efforts of the ANP, operators, service providers and other regulators, the pandemic situation is being managed successfully while the industry also continues meet the necessary energy demands of the country. Although the global pandemic has been a sobering and dark period in history for all, there have been positive outcomes for the oil and gas exploration and production industry. The three most apparent positive outcomes are: Ability of regulators and operators to adapt together; A focus by all players on the safety of the workforce and environment;. Effectively operating under adverse conditions with reduced and essential workforce.

scholarly journals Canada’s Economy in 2021: Exiting the “Pandemic” Recession

2021 ◽  
pp. 0
Author(s):  
Lyudmila Nemova
Keyword(s):  
Budget Deficit ◽  
Oil And Gas ◽  
Federal Budget ◽  
Economic Activities ◽  
Emergency Plan ◽  
Fiscal Stimulus ◽  
Global Pandemic ◽  
Global Demand ◽  
Residential Capital ◽  
The Waves

The article analyses the dynamics of the Canadian economy in 2020-2021, during the unprecedented global “pandemic” recession. It is shown that like in many other countries, the economic ups and downs in Canada closely followed the waves of the COVID-19 infection spreading across the regions and the subsequent rounds of regulatory restrictions on “high-contact” economic activities, citizens’ travel inside and outside the country, international trade, and etc.  In the latter half of the 2020 several goods-producing industries showed signs of recovery which continued through the following year. However, it was only mass vaccination of Canadians in all provinces and territories that created conditions for sustained re-opening of businesses in most sectors of the national economy by the end 2021. The author looks at the internal and external drivers of recovery and continued growth.  It is shown that on the whole the federal emergency plan proved to be successful in providing income support for Canadians and preventing bankruptcies among small and medium-sized businesses. The 2021 Federal Budget includes more than $100 billion in new spending over three years. It is expected that massive fiscal stimulus coupled with pent-up demand will sustain strong consumer spending after the speedy vaccine rollout allows businesses to fully reopen. At the same time, non-residential capital expenditures by private sector companies will increase only moderately in most sectors after a sizable decline in 2020. This year Canada’s resource-based industries are benefiting from the growing global demand for oil and gas, base metals, forest and agricultural products. The concluding part of the article analyses the major risks which can slow the economic recovery: the global supply-chain bottlenecks, labour market imbalances, growing inflation pressures, and massive federal budget deficit.

scholarly journals Unprecedented quiescence in resource development area allows detection of long-lived latent seismicity

2020 ◽  
Author(s):  
Rebecca O. Salvage ◽  
David W. Eaton
Keyword(s):  
British Columbia ◽  
Hydraulic Fracturing ◽  
Oil And Gas ◽  
Oil And Gas Development ◽  
Seismicity Rate ◽  
Global Pandemic ◽  
Time Period ◽  
Show Evidence ◽  
Montney Formation ◽  
Correlation Prior

Abstract. Recent seismicity in Alberta and British Columbia has been attributed to ongoing oil and gas development in the area, due to its temporal and spatial correlation. Prior to such development, the area was seismically quiescent. Here, we show evidence that latent seismicity may occur in areas where previous operations may have occurred, even during a shutdown in operations. The global pandemic of COVID-19 furnished the unique opportunity to study seismicity during a period of anthropogenic quiescence. A total of 389 events were detected within the Kiskatinaw area of British Columbia from April to August 2020, which encompasses a period with no hydraulic fracturing operations during a government imposed lockdown. Apart from a reduction in seismicity rate, the general characteristics of the observed seismicity were similar to the preceding time period of active operations. During the shutdown, observed event magnitudes fell between ML −1 and ML 1.2, but lacked temporal clustering that is often characteristic of hydraulic-fracturing induced sequences. Hypocenters occurred in a corridor orientated NW-SE, just as seismicity had done in previous years in the area, and locate at depths associated with the target Montney formation or shallower (

India will be a major beneficiary of Iran deal

2015 ◽  
Keyword(s):  
Latin American ◽  
Security Council ◽  
Trade Balance ◽  
Oil And Gas ◽  
Energy Market ◽  
Framework Agreement ◽  
Content Type ◽  
Un Security Council ◽  
Final Agreement ◽  
The Impact

Subject The impact of the Iran deal on India's energy sector. Significance On April 2, Iran and the P5+1 countries (five permanent members of the UN Security Council plus Germany) agreed a framework agreement on Iran's nuclear programme. Despite continued political posturing from both sides, a final agreement is likely by the June deadline. This could set the stage for economic sanctions to be phased out on a gradual basis, potentially leading to a resurgence of Iranian crude in the energy market. This will have implications for India, which has oil and gas links to Iran. Impacts India's energy links with Latin American oil suppliers will strengthen. Due to US pressure, Delhi is unlikely to entertain talks about the India-Pakistan-Iran pipeline. India's trade balance will continue to benefit from a lower oil import bill, relieving some pressure on public finances.

MECHANISMS FOR ENSURING FINANCIAL STABILITY OF OIL AND GAS ENTERPRISES BY ATTRACTING INVESTMENT IN THE CONTEXT OF A GLOBAL PANDEMIC

2020 ◽  
Vol 5 (3) ◽  
pp. 14-20
Author(s):  
Dinora Ishmanova ◽  
Keyword(s):  
Strategic Management ◽  
Financial Stability ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Global Pandemic ◽  
Oil And Gas Enterprises

This article provides conclusions and suggestions on how to attract investment to improve the mechanism of strategic management as a solution to ensure the financial stability of oil and gas industry enterprises in the context of a global pandemic

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