scholarly journals Problems and prospects of development of the Russian oil and gas complex at the present stage

2019 ◽  
Vol 6 (3) ◽  
Author(s):  
Yulia Pleshkova ◽  
Sofya Petrova ◽  
Yulia Karpovich
Keyword(s):  
Large Scale ◽  
Oil And Gas ◽  
New Technologies ◽  
Oil And Gas Industry ◽  
The United States ◽  
Petroleum Products ◽  
Present Stage ◽  
Pricing Policy ◽  
Production Chain ◽  
Oil And Gas Sector

The article presents the challenges and threats of the Russian oil and gas complex against the background of global trends. The author asks the question of the analysis of the Main threat to the Russian export of oil and petroleum products to Europe, which comes from suppliers from the United States and the General aggravation of competition in the crude oil market due to the likely decline in demand due to the slowdown in the economies of the EU and Turkey. At the present stage, the author comes to the conclusion that the progressive enterprises of the oil and gas sector are those that implement projects in the field of rapid creation and introduction of new technologies in the production chain. As a result, companies that are technologically and financially lagging behind face serious problems that harm their reputation, and even more so their viability in the market. It should be added that the development of Russian oil and gas industry enterprises is hampered by various sanctions imposed on the economy of the state. In the course of the study, the author concludes that the development of the oil and gas sector is due to many external and internal factors, the instability of which leads to a collision of this business with large-scale development problems, which subsequently have an undeniable impact on the economy of oil-producing countries as a whole. However, the oil and gas sector also has development prospects, which are mainly related to the improvement of technologies, an increase in the share of exports, pricing policy and the absence of sanctions.

How Do Bankruptcies in the Shale Sector Induce Operators to Focus on Value Creation?

2021 ◽  
Author(s):  
Majed Ayed Alsuwailem ◽  
Malik Selemankhel
Keyword(s):  
Financial Risk ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
The United States ◽  
Positive Sign ◽  
Tight Oil ◽  
Market Uncertainty ◽  
Oil Sector ◽  
Oil And Gas Sector

Abstract Between January 2015 and early 2021, about 76 of the approximately 2,160 small-to-medium independent companies in the tight oil sector filed for Chapter 11 protection. These filings mostly occurred in 2016 and 2019. These companies were negatively impacted by the low oil prices in these years owing to their lack of financial discipline and poor financial risk assessments. As a result, they declared bankruptcy. News outlets tend to amplify bankruptcy filing announcements in the oil and gas sector. Nevertheless, our analysis shows that these bankruptcy declarations do not imply that the shale oil and gas sector collapsed. The ailing operators in 2019 were responsible for about 8.5% of total tight oil production in the United States. This volume did not disappear from the market because of the Chapter 11 provisions. Instead, the ailing operators either became more efficient and financially disciplined or transferred their assets to more efficient operators. Over 33 independent companies have ultimately emerged from bankruptcy. These companies successfully reached debt restructuring resolutions with their investors, transferred equity ownership to investors or sold or leased their assets to other operators. Companies that failed to adapt exited the oil market through either liquidation or acquisitions by other companies. Going forward, more consolidations are expected in the shale industry, especially among medium-to-large independent producers that accrued large debts in previous years. These producers will either enter bankruptcy owing to financial headwinds and market uncertainty or be acquired by larger companies. This analysis shows that bankruptcies in the tight oil sector may be viewed positively or negatively depending on the situation and perspective. Bankruptcies do incur different types of costs and losses to many parties. However, consolidation that improves the efficiency of resource allocation can be viewed as a positive sign for the economy. Operators, equity owners, debtors-in-possession and the oil and gas industry can therefore view bankruptcies within the industry differently.

Improving Offshore Platform Production With Artificial Intelligence

2021 ◽  
Author(s):  
Philippe Herve
Keyword(s):  
Artificial Intelligence ◽  
Carbon Emissions ◽  
Oil And Gas ◽  
New Technologies ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Carbon Neutrality ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

Abstract The oil and gas sector is facing a changing market with new pressures to which it must learn to adapt. One of the biggest changes in expectations is the increased focus being placed on carbon emissions. Many consumers, investors, and lawmakers see reforms to the oil and gas industry as one of the most important avenues toward reducing carbon emissions and curbing climate change, and accordingly, a large number of companies have already made ambitious pledges towards carbon neutrality. New technologies may offer the best avenue for oil and gas companies to reduce their carbon emissions and meet those neutrality goals. Digital technologies—and in particular, artificial intelligence—can aid in decarbonization even with relatively small investments, primarily by enabling large increases in efficiency and reducing unscheduled downtime and the need for flaring. This paper discusses how artificial intelligence-powered predictive maintenance can be applied to reduce carbon emissions, and a case study illustrating a real-world deployment of this technology.

Decommissioning – the next Australian oil and gas boom?

2017 ◽  
Vol 57 (2) ◽  
pp. 421 ◽  
Author(s):  
Bernadette Cullinane ◽  
Susan Gourvenec
Keyword(s):  
Large Scale ◽  
Oil And Gas ◽  
New Technologies ◽  
Geographic Location ◽  
Oil And Gas Industry ◽  
Complete Removal ◽  
Gas Industry ◽  
Innovative Thinking ◽  
Fit For Purpose

In the Oil and Gas Competitiveness Assessment recently published by National Energy Resources Australia (NERA), Australia ranked at the bottom of the group of 30 oil and gas producing nations in abandonment and decommissioning (NERA 2016). With the recent focus on the massive investment in liquefied natural gas (LNG), it is easy to forget that the Australian oil and gas industry is nearly 100 years old and many assets are reaching the end of their producing life. Liabilities are estimated at more than US$21billion over the next 50 years (Wood Mackenzie 2016a). With nearly 70% of producing assets located offshore, this problem is complex and costly. The industry must develop strategies to address this looming challenge, however Australia has completed few large-scale decommissioning projects and currently lacks the required experience. This paper explores how Australia must: evaluate a range of approaches from complete removal to allowing assets to remain in situ; develop multi- and interdisciplinary solutions based on the collaborative input of all stakeholders and ocean users to develop a framework suited to our geographic location and environment; develop fit-for-purpose policies and regulations to support the most appropriate decommissioning framework for Australia, by learning from other countries, while recognising local uniqueness; and build workforce capability and capacity to support efficient and economical decommissioning activities and stimulate economic growth, which is more challenging than in other regions given our remoteness and high cost structure. The upcoming decommissioning wave represents a perfect ‘greenfield’ opportunity to apply innovative thinking, new technologies and collaborative approaches as well as an opportunity for Australia to demonstrate global leadership in this inevitable final stage of the lifecycle.

scholarly journals THE ISSUE OF PRICING POLICY IN OIL AND GAS SECTOR: WHY OIL PRICES RISING

2019 ◽  
pp. 30-40
Author(s):  
Irina Onyusheva ◽  
Khaing Phyu Phyu ◽  
Aung Noe Noe
Keyword(s):  
Oil And Gas ◽  
Social Issues ◽  
Oil Prices ◽  
Oil And Gas Industry ◽  
Expert Assessment ◽  
Pricing Policy ◽  
Gas Industry ◽  
Political Differences ◽  
The Given ◽  
Oil And Gas Sector

The given article is devoted to the current issue of pricing policy in oil and gas sector. Particularly, it has been studied the factors, causes and consequences of oil prices rising. The research methodology of this paper is based on conducting the comparative analysis of existing patterns of macroeconomic development, political differences and social issues within global oil and gas industry providers. The given analysis is based on SWOT, PESTEL, cause and effect modeling, risk management techniques, as well as the five forces model by M. Porter detecting competitive advantages of the related countries. It is also implemented the systematic vision and expert assessment. Moreover, it has been considered the possible solutions and recommendations on how to improve the current global economic situation.

THE ISSUE OF PRICING POLICY IN OIL AND GAS SECTOR: WHY OIL PRICES ARE RISING

2019 ◽  
pp. 13-24
Author(s):  
Irina Onyusheva ◽  
Phyu Phyu Khaing ◽  
Noe Noe Aung
Keyword(s):  
Oil And Gas ◽  
Social Issues ◽  
Oil Prices ◽  
Oil And Gas Industry ◽  
Competitive Advantages ◽  
Pricing Policy ◽  
Gas Industry ◽  
Political Differences ◽  
The Given ◽  
Oil And Gas Sector

The given article is dedicated to the current issues of pricing policy in the oil & gas sector. Particularly, it studies the factors, causes and consequences of oil prices rising. The research methodology of this paper is comparative analysis of the existing patterns of macroeconomic development, political differences and social issues within the global oil and gas industry providers. The given analysis is based on SWOT, PESTLE, cause-effect modeling, risk management techniques, as well as the five forces model by M. Porter detecting competitive advantages of the related countries. The authors also consider possible solutions and provide recommendations on how to improve the current global economic situation in the given field.

Shale, Quakes, and High Stakes: Regulating Fracking-Induced Seismicity in Oklahoma, USA and Lancashire, UK

2019 ◽  
Vol 3 (1) ◽  
pp. 1-14
Author(s):  
Miriam R. Aczel ◽  
Karen E. Makuch
Keyword(s):  
United States ◽  
Hydraulic Fracturing ◽  
Shale Gas ◽  
Seismic Activity ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
High Volume ◽  
The United States ◽  
Horizontal Drilling ◽  
Induced Seismic Activity

High-volume hydraulic fracturing combined with horizontal drilling has “revolutionized” the United States’ oil and gas industry by allowing extraction of previously inaccessible oil and gas trapped in shale rock [1]. Although the United States has extracted shale gas in different states for several decades, the United Kingdom is in the early stages of developing its domestic shale gas resources, in the hopes of replicating the United States’ commercial success with the technologies [2, 3]. However, the extraction of shale gas using hydraulic fracturing and horizontal drilling poses potential risks to the environment and natural resources, human health, and communities and local livelihoods. Risks include contamination of water resources, air pollution, and induced seismic activity near shale gas operation sites. This paper examines the regulation of potential induced seismic activity in Oklahoma, USA, and Lancashire, UK, and concludes with recommendations for strengthening these protections.

Financial and Economic Support of Innovation Processes in the Russian Fuel and Energy Complex

2019 ◽  
Vol 12 (3) ◽  
pp. 77-85
Author(s):  
L. D. Kapranova ◽  
T. V. Pogodina
Keyword(s):  
Oil Recovery ◽  
Large Scale ◽  
Oil And Gas ◽  
New Technologies ◽  
Innovative Development ◽  
Oil Reserves ◽  
Energy Complex ◽  
Innovation Activities ◽  
Substantial Investment ◽  
The Government

The subject of the research is the current state of the fuel and energy complex (FEC) that ensures generation of a significant part of the budget and the innovative development of the economy.The purpose of the research was to establish priority directions for the development of the FEC sectors based on a comprehensive analysis of their innovative and investment activities. The dynamics of investment in the fuel and energy sector are considered. It is noted that large-scale modernization of the fuel and energy complex requires substantial investment and support from the government. The results of the government programs of corporate innovative development are analyzed. The results of the research identified innovative development priorities in the power, oil, gas and coal sectors of the fuel and energy complex. The most promising areas of innovative development in the oil and gas sector are the technologies of enhanced oil recovery; the development of hard-to-recover oil reserves; the production of liquefied natural gas and its transportation. In the power sector, the prospective areas are activities aimed at improving the performance reliability of the national energy systems and the introduction of digital technologies. Based on the research findings, it is concluded that the innovation activities in the fuel and energy complex primarily include the development of new technologies, modernization of the FEC technical base; adoption of state-of-the-art methods of coal mining and oil recovery; creating favorable economic conditions for industrial extraction of hard-to-recover reserves; transition to carbon-free fuel sources and energy carriers that can reduce energy consumption and cost as well as reducing the negative FEC impact on the environment.

Trends and Prospects of Development of the Oil and Gas Sector in the Context of Digitalization

2020 ◽  
Vol 26 (1) ◽  
pp. 35-45 ◽  
Author(s):  
A. G. Kazanin
Keyword(s):  
Oil And Gas ◽  
Digital Technologies ◽  
Oil And Gas Industry ◽  
Global Market ◽  
The Arctic ◽  
Business And Society ◽  
Gas Industry ◽  
Exploration And Production ◽  
Oil And Gas Sector

The modern oil and gas industry is heavily dependent on the processes and trends driven by the accelerating digitalization of the economy. Thus, the digitalization of the oil and gas sector has become Russia’s top priority, which involves a technological and structural transformation of all production processes and stages.Aim. The presented study aims to identify the major trends and prospects of development of the Russian oil and gas sector in the context of its digitalization and formation of the digital economy.Tasks. The authors analyze the major trends in the development of the oil and gas industry at a global scale and in Russia with allowance for the prospects of accelerated exploration of the Arctic; determine the best practices of implementation of digital technologies by oil and gas companies as well as the prospects and obstacles for the subsequent transfer of digital technologies to the Russian oil and gas industry.Methods. This study uses general scientific methods, such as analysis, synthesis, and scientific generalization.Results. Arctic hydrocarbons will become increasingly important to Russia in the long term, and their exploration and production will require the implementation of innovative technologies. Priority directions for the development of many oil and gas producers will include active application of digital technologies as a whole (different types of robots that could replace people in performing complex procedures), processing and analysis of big data using artificial intelligence to optimize processes, particularly in the field of exploration and production, processing and transportation. Digitalization of the oil and gas sector is a powerful factor in the improvement of the efficiency of the Russian economy. However, Russian companies are notably lagging behind in this field of innovative development and there are problems and high risks that need to be overcome to realize its potential for business and society.Conclusions. Given the strategic importance of the oil and gas industry for Russia, its sustainable development and national security, it is recommendable to focus on the development and implementation of digital technologies. This is crucial for the digitalization of long-term projection and strategic planning, assessment of the role and place of Russia and its largest energy companies in the global market with allowance for a maximum number of different internal and external factors.

Mining the air: Political ecologies of the circular carbon economy

2021 ◽  
pp. 251484862110614
Author(s):  
Holly Jean Buck
Keyword(s):  
Fossil Fuels ◽  
Oil And Gas ◽  
New Technologies ◽  
Oil And Gas Industry ◽  
Carbon Utilization ◽  
Gas Industry ◽  
The Public ◽  
Fossil Carbon ◽  
Political Ecologies ◽  
Carbon Economy

Can fossil-based fuels become carbon neutral or carbon negative? The oil and gas industry is facing pressure to decarbonize, and new technologies are allowing companies and experts to imagine lower-carbon fossil fuels as part of a circular carbon economy. This paper draws on interviews with experts, ethnographic observations at carbontech and carbon management events, and interviews with members of the public along a suggested CO2 pipeline route from Iowa to Texas, to explore: What is driving the sociotechnical imaginary of circular fossil carbon among experts, and what are its prospects? How do people living in the landscapes that are expected to provide carbon utilization and removal services understand their desirability and workability? First, the paper examines a contradiction in views of carbon professionals: while experts understand the scale of infrastructure, energy, and capital required to build a circular carbon economy, they face constraints in advocating for policies commensurate with this scale, though they have developed strategies for managing this disconnect. Second, the paper describes views from the land in the central US, surfacing questions about the sustainability of new technologies, the prospect of carbon dioxide pipelines, and the way circular carbon industries could intersect trends of decline in small rural towns. Experts often fail to consider local priorities and expertise, and people in working landscapes may not see the priorities and plans of experts, constituting a “double unseeing.” Robust energy democracy involves not just resistance to dominant imaginaries of circular carbon, but articulation of alternatives. New forms of expert and community collaboration will be key to transcending this double unseeing and furthering energy democracy.

Nanoemulsions: A Versatile Technology for Oil and Gas Applications

2021 ◽  
Author(s):  
Nouf AlJabri ◽  
Nan Shi
Keyword(s):  
Droplet Size ◽  
Large Scale ◽  
Oil And Gas ◽  
Volume Fraction ◽  
Oil Industry ◽  
Oil And Gas Industry ◽  
High Energy ◽  
Small Droplet ◽  
Gas Industry ◽  
Wide Range

Abstract Nanoemulsions (NEs) are kinetically stable emulsions with droplet size on the order of 100 nm. Many unique properties of NEs, such as stability and rheology, have attracted considerable attention in the oil industry. Here, we review applications and studies of NEs for major upstream operations, highlighting useful properties of NEs, synthesis to render these properties, and techniques to characterize them. We identify specific challenges associated with large-scale applications of NEs and directions for future studies. We first summarize useful and unique properties of NEs, mostly arising from the small droplet size. Then, we compare different methods to prepare NEs based on the magnitude of input energy, i.e., low-energy and high-energy methods. In addition, we review techniques to characterize properties of NEs, such as droplet size, volume fraction of the dispersed phase, and viscosity. Furthermore, we discuss specific applications of NEs in four areas of upstream operations, i.e., enhanced oil recovery, drilling/completion, flow assurance, and stimulation. Finally, we identify challenges to economically tailor NEs with desired properties for large-scale upstream applications and propose possible solutions to some of these challenges. NEs are kinetically stable due to their small droplet size (submicron to 100 nm). Within this size range, the rate of major destabilizing mechanisms, such as coalescence, flocculation, and Ostwald ripening, is considerably slowed down. In addition, small droplet size yields large surface-to-volume ratio, optical transparency, high diffusivity, and controllable rheology. Similar to applications in other fields (food industry, pharmaceuticals, cosmetics, etc.), the oil and gas industry can also benefit from these useful properties of NEs. Proposed functions of NEs include delivering chemicals, conditioning wellbore/reservoir conditions, and improve chemical compatibility. Therefore, we envision NEs as a versatile technology that can be applied in a variety of upstream operations. Upstream operations often target a wide range of physical and chemical conditions and are operated at different time scales. More importantly, these operations typically consume a large amount of materials. These facts not only suggest efforts to rationally engineer properties of NEs in upstream applications, but also manifest the importance to economically optimize such efforts for large-scale operations. We summarize studies and applications of NEs in upstream operations in the oil and gas industry. We review useful properties of NEs that benefit upstream applications as well as techniques to synthesize and characterize NEs. More importantly, we identify challenges and opportunities in engineering NEs for large-scale operations in different upstream applications. This work not only focuses on scientific aspects of synthesizing NEs with desired properties but also emphasizes engineering and economic consideration that is important in the oil industry.

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