<a href="http://youngpetro.org/2013/03/06/how-is-it-possible-to-produce-oil-from-sand/"><b>How is it possible to produce oil from sand?</b></a> <a href="http://youngpetro.org/2011/10/09/people-engineers-and-spe-members/"><b>People, Engineers and SPE Members</b></a> <a href="http://youngpetro.org/2012/12/19/if-i-were-a-prime-minister/"><b>If I Were a Prime Minister…</b></a> <a href="http://youngpetro.org/2012/12/26/polish-shales-delayed/"><b>Polish shales delayed?</b></a> <a href="http://youngpetro.org/2013/01/11/russia-continues-the-policy-of-states-companies-monopoly/"><b>Russia continues the policy of state companies’ monopoly</b></a>
 

The World’s Largest Oil & Gas Companies 2018

The World’s Largest Oil & Gas Companies 2018

This year’s ranking of the largest companies in the world brings few changes to the Oil & Gas companies. The biggest upturn can be seen in the revenues, all the big players reported significant growth due to the higher commodity prices than last year. With higher profits Oil & Gas companies were ranked higher this year, showing that if only oil keeps the price they can still compete with other modern high-value industries. The upturn we could have seen during last year brought Oil & Gas companies back to the head of this list. WTI crude with the average price $51 per barrel in 2017, raised $7 per barrel over the previous year, according to the U.S. Energy Information Administration. Earlier this year WTI oil prices hit the level of $72 per barrel but again fall to $65 due to the tension between US, Russia and Saudi Arabia. The last two indicated they may increase production later this year in response to US criticism about rising prices. Although there are signs to predict further oil prices rise such as Venezuelan production cut, the impact of Iranian sanctions on supply and Saudi Aramco IPO, where Saudi Arabia would prefer higher oil prices.

The Forbes Global 2000 is determined by a composite score of equally weighted measures of revenue, profits, assets and market value.

Royal Dutch Shell took the top spot among oil and gas companies on the Forbes Global 2000′s list of the biggest and most powerful public companies, surpassing last year’s leader Exxon Mobil Corp.

The Anglo-Dutch company was ranked 11th among all companies on the list, gaining 9 levels up from the 20th position last year. The US, Texas-based Exxon kept 13th, same as last year.

Chevron Corp. was the third-biggest oil and gas company on the list with a 21st ranking compared with 359th the previous year, which it ended $431 million in the red because of lower commodity prices, among other things.

France’s Total SA was the fourth-ranked oil and gas company on the list, followed by China Petroleum & Chemical Corp., known as Sinopec, and PetroChina Co. Ltd.

BP plc, Gazprom and Rosneft of Russia and India’s Reliance Industries Ltd. rounded out the top 10.

 The top 25 oil and gas companies on the Forbes Global 2000 earned $144.6 billion on sales of $2.9 trillion during the list’s 12-month measurement period, way up from $73 billion in earnings on sales of $2.2 trillion the previous year and $81 billion in earnings on sales of $2.6 trillion the year before that.

Source: Forbes

East meets West 2018

East meets West 2018

From the 10th to the 12th April AGH UST SPE Student Chapter organized ‘East meets West’ International Student Petroleum Congress and Career Expo. Around 200 students and university representatives from numerous parts of the world, as well as E&P companies were gathered in Kraków for the 9th time.

Thanks to SPE International, for the second time in a row the congress could host European Qualifier for SPE Student Paper Contest and Petrobowl. The winner of SPC Undergraduate was Yasir Yousuf Thara from Middle East Technical University for the presentation ‘Development of a Physical Hydrodynamic Hydrocarbon – Trap Model’. In the Postgraduate category the first prize went to Pierre Hacquard representing IFP School for the paper titled ‘New Generation of Uncertainty Analysis in Basin Modelling’. The best from PhD category was Alsu Valiakhmetova from Heriot-Watt University, who gave a speech about ‘Phophonate/Ca/Mg Precipitates for Application in Scale Inhibitor Squeeze Treatments’. All the winners will participate in the International SPC at the ATCE in Dallas.

Traditionally, in the Poster Session selected students could present the results of their researches and compete in the contest. This year, thanks to Orlen Upstream, Shell and PGNiG the contest was supervised by representatives from the industry. Every contestant presented bright and innovative ideas. Rasoul Foroutan from TU Clausthal was announced the winner, second prize received Stefano Tagliaferri from Technical University of Denmark and third prize went to Evan Jonathan Gowidjaja from TU Clausthal.

Emotions were running high during Petrobowl Contest. It gathered over 20 teams from Europe and Caspian Region. Congratulations to NTNU, Herriot Watt University, Technische Universiteit Delft, TU Clausthal and the winner- University of Stavanger, who will represent the region at the ATCE!

Thanks to delegates from Shell, MIT Forum Enterprise, MOLGROUP and NOV congress participants could hear very interesting debate about ‘Innovative solutions in Oil and Gas industry’. The panelists could share their ideas about current situation and future of our industry.

The congress would not be so successful without partnering companies: Shell, PGNiG, LOTOS, EuRoPol GAZ, MOLGROUP, Orlen Upstream, Schlumberger, Halliburton, Gaz system and City of Cracow. Their support enabled AGH UST SPE Student Chapter to organize the Congress, gave students the opportunity to find out about the chances of employment and take part in the recruitment organized by Schlumberger and Halliburton.

The idea behind the first ‘East meets West’ Congress was to gather people from different parts of the world and it is still the clue of the event. Smiles on participants’ faces were for organizers a true reward for the year of preparations. Next year it is going to be the 10th anniversary of the Congress. AGH UST SPE Student Chapter invite everybody to spend this SPEcial time with them.

 

YoungPetro – 21st Issue – Winter 2017

YoungPetro – 21st Issue – Winter 2017

The wise man once said: Winter is coming! He was right, it is coming indeed and in some places, it is already there. Whether it is in your hometown yet or not, we bring you Winter Issue of the YoungPetro Magazine! It is packed with interesting articles, reports and much more! Enjoy reading and share with friends!

 

Annual Technical Conference and Exhibition in San Antonio 2017

Annual Technical Conference and Exhibition in San Antonio 2017

On 9–11 October, the Society of Petroleum Engineers (SPE) hosted global exploration and production professionals for the 2017 Annual Technical Conference and Exhibition (ATCE) at the Henry B. Gonzalez Convention Center in San Antonio, Texas, USA. During the 93rd annual event, 2018 SPE President Darcy Spady received the presidential gavel and officially commenced his presidency of the not-for-profit professional association.

SPE’s premier technical conference, ATCE presented best practices and emerging technologies to attending engineers, scientists, academia, managers and executives. The conference’s international exhibiting companies featured a broad range of technological innovations, new products and valuable industry services. ATCE 2017 featured nearly 400 technical papers in 46 technical sessions, plus panels and ePoster sessions.

“It was wonderful seeing SPE members from around the world this week, particularly our Gulf Coast members following the recent devastation of Hurricane Harvey,” said 2017 SPE President Janeen Judah. “From our session focused on learnings following the recent natural disaster to sessions on digital energy, ATCE once again delivered subject matter important to our members, industry professionals, the public, and the environment.”

Five panelists discussed “Sustainable Oil and Gas: Improving People’s Lives” in front of a packed ballroom at the Opening General Session. The panel was moderated by Eithne Treanor, ETreanor Media, and comprised Lorenzo Simonelli, chairman and CEO of Baker Hughes, a GE company; David Hager, president and CEO of Devon Energy; Khaled Al-Buraik, vice president for Saudi Aramco; Deborah Wince-Smith, president and CEO of the Council on Competitiveness; and Franklin Orr from Stanford University.

Tackling the challenges of sustainability, Hager said, requires creativity. “Creativity is at the heart of everything we do,” he said. He added later, “To do things tomorrow the way we do things currently is not going to provide the sustainability we need.”

Simonelli built on the idea of creativity by including the concept of disruption. “I think, as an industry, we’ve got to embrace disruption,” he said, adding, “How do we embrace that disruption and change much faster?”

Overall, more than 8,300 professionals from 60 countries attended this year’s event. Sessions focused on subjects such as creating databases of multiple data streams for analyzing how to improve performance and how R&D may be the key to companies’ survival. Speakers, including representatives from operating companies, governmental agencies and global leaders addressed commercializing digital controls and automation.

Also on Monday, Vicki Hollub, president and CEO of Occidental Petroleum Corporation, spoke at the Chairperson’s Luncheon. She cited three technologies that, although not new, have played a significant role in upstream development. Seismic imaging, horizontal drilling, and hydraulic fracturing all have succeeded in revolutionizing upstream practices. “The point is, you don’t to have to go too far for new ideas,” she said. “We are seeing the benefits of all three of these technologies at Occidental, most recently in our Permian Basin position.”

SPE’s Annual Reception and Banquet recognized individuals for their significant contributions to the oil and gas industry and SPE, while the President’s Luncheon offered the “State of the Society” address from Judah, who also passed the presidential gavel to Spady during the event.  An active SPE member since graduating from university, Spady most recently served on the SPE International Board as regional director for Canada and is the first Canadian elected as SPE president.

“While we’re confronted with a constantly changing industry landscape, SPE continues to fulfill its mission of collecting, disseminating, and exchanging technical knowledge as exhibited by ATCE 2017. It delivered one of the most innovative, forwarding thinking conferences in its nearly century long history,” said Spady.

“Though innovation and technology remain a core focus of this organization, the environment and community are also an essential part of our DNA for SPE members young and old — it is not a simple matter of choosing economy or environment, instead we choose both. As SPE’s new president, one of my main objectives will be to continue pushing these dialogues and actions across our society for the betterment of our industry and world.”

_______________________________________________________________________

In addition to this on 9th of October in San Antonio was held the PetroBowl competition. After a tough quarterfinal battle with Batangas State University from Philippines, team representing AGH UST ended their PetroBowl adventure at quarterfinals as the best team in Europe and one of the eight best in the World! After this great success, came time for another event connected with our section. President of our chapter had opportunity to accept the Outstanding Student Chapter Award from Darcy Spady for the whole effort that we have put in this year into our student chapter.

We would like to thank our sponsors GAZ-SYSTEM S.A. and United Oilfield Services, as well as CRUX Fine Selection – partner of our chapter, thanks to them we had the opportunity to participate in such a prestigious event as the ATCE Conference.

The 2018 ATCE conference will be held 24–26 September in Dallas, Texas, USA.
For more information, visit www.atce.org.

 

 

Few words about sponsors of AGH University students in ATCE

Few words about sponsors of AGH University students in ATCE

Thanks to courtesy of GAZ-SYSTEM, United Oilfield Services and AGH University of Science and Technology, Polish students will be able to participate in the Annual Technical Conference and Exhibition. We can’t wait to see their relation from the event!

Few words about our sponsors: United Oilfield Services (UOS) is an oilfield service company focused on providing drilling, well stimulation and well testing services to the onshore oil and gas industry. UOS delivers customized, efficient solutions to the highest quality of service to meet customer needs and to empower them to accelerate the development of Europe’s conventional and unconventional oil and gas resources. UOS offers drilling equipment produced in the USA by the world’s largest producer of oil drilling equipment, National Oilwell Varco. In combination with more than 20 years of experience and gained knowledge, company is successful in mining projects both in Poland and in the United States of America.

Gas Transmission Operator GAZ-SYSTEM S.A. is a strategic company for Poland’s economy and energy security. It’s key task is the transport of gas via the transmission network throughout the country to supply with gas the distribution networks and final customers connected to the transmission system. GAZ-SYSTEM as national monopolist on the gas transmission is generaly responsible for providing gas-market participants with equal access to the transmission network. Company is responsible also for maintaining, repairing and developing transmission facilities – Gaz-System owns and operates all gas transmission and distribution pipelines in Poland, except the Yamal–Europe pipeline. GAZ-SYSTEM S.A. does not deal exclusively with intrastate gas transmission – it owns the company Polskie LNG S.A., set up to build and operate the liquefied natural gas (LNG) terminal at Świnoujście. The LNG terminal is diversifying natural-gas supply sources, which translates into improved national energy security. In addition company is the owner and co-operator of the ‘Baltic Pipe’ pipeline between Poland and Denmark.

ATCE 2017 to highlight digital energy, hydraulic fracturing, unmanned vehicles, and more; host inaugural energy startup competition!

ATCE 2017 to highlight digital energy, hydraulic fracturing, unmanned vehicles, and more; host inaugural energy startup competition!

On 9–11 October, the Society of Petroleum Engineers (SPE) will again assemble exploration and production (E&P) professionals from around the world for the 2017 Annual Technical Conference and Exhibition (ATCE) at the Henry B. Gonzalez Convention Center in San Antonio, Texas, USA.

A leading technical conference in the upstream oil and gas industry for the past 93 years, ATCE will present current best practices and emerging technologies to attending engineers, scientists, academia, managers and executives. At the same time the conference’s exhibiting companies, which represent more than 50 countries, will feature the latest products and services.

“SPE members and companies know the value and return on investment of meeting and networking at ATCE. There is simply no other event in the industry that brings the level of insights, innovations and technological dialogue covering all things E&P,” said ATCE 2017 General Chairperson Vicki Hollub. “This year’s robust technical offerings and our great new programs, should inspire everyone – from students to more experienced professionals – and generate solutions that can be applied back at the office or in the field.”

This year’s conference received a record 2,521 paper proposal submissions, with close to 400 selected for presentations. The technical sessions, ePosters and panel sessions will cover digital energy, chemicals, hydraulic fracturing, flow assurance, unmanned vehicles, and other timely topics. Anticipated session highlights include:

  • “Driving Sustainable Value From Digital Energy Revolution,” which will present various case studies for showcasing the use of digital automation;
  • “Chemical Oil Enhanced Recovery,” showcasing the current interest in the E&P industry;
  • “Frac Modeling: From Injection Test to Treatment Simulation,” featuring papers ranging from pre-fracturing tests to post-fracturing diagnostics and assessments;
  • “The Smarter Flow Assurance Path Toward Improved Offshore Production Economics,” which explores opportunities for flow assurance to help decrease costs and make offshore more competitive with onshore and unconventional; and
  • “Can Unmanned Vehicles and Robotics Create a Step Change in the Oil Industry,” a special session about new technologies to improve operational efficiency and asset integrity as well as minimize personnel exposure to dangerous environments.

New to ATCE, Startup Village will feature new business-focused table discussions and expert presentations on Tuesday. It also includes the inaugural Energy Startup Competition, in partnership with Rice University. This competition will showcase promising emerging technology companies in the energy sector as they pitch venture capitalists, angel investors, and industry leaders.

“Downturns have traditionally been a catalyst for startups, and ATCE has always embraced this industry’s entrepreneurial spirit. While widely known as the launching pad for new onshore and offshore technologies among leading E&P companies, programs like this equip future oil and gas leaders with the right tools, insights, and networks to turn these business ideas into realities that can benefit the broader industry,” said 2017 SPE President Janeen Judah.

ATCE continues to deliver training courses, special awards recognitions and specialized topics for students and young professionals, such as:

  • 20 pre- and post-conference training courses covering a wide range of industry topics;
  • Its traditional ATCE Annual Reception and Banquet on Tuesday to recognize outstanding SPE members who have made significant contributions to the industry, and the President’s Luncheon and Annual Meeting of Members on Wednesday, where new achievements and upcoming initiatives will be presented.

For more information on ATCE 2017, visit www.spe.org/atce.

New Discoveries in North-Western Poland

New Discoveries in North-Western Poland

Polish Oil and Gas Mining Company in collaboration with LOTOS Petrobaltic have started drilling exploratory well on a concession Kamień Pomorski. According to the estimates in the area of work being prepared, in commune Golczewo (West Pomeranian voivodeship) may be 7.5 million boe.

Read more

Q2 Results – Oil Companies Make Profit in Tough Times

Q2 Results – Oil Companies Make Profit in Tough Times

During last few days major Oil & Gas Companies revealed their second-quarter earnings and believe or not, almost all of them are higher than expected. Is it sign of the end of downturn and back to wealthy times? I wouldn’t say so, but reported results shows that Oil Companies adapted to the market conditions and now they can make profit from diverse sources like downstream or manufacturing and not only from Upstream. Furthermore, in many cases Upstream is now not the strongest branch. The price around $50 per barrel isn’t that bad for companies to prosper well. The biggest companies managed it by making redundancy and savings.

Read more

Drilling Into A Volcano in Iceland

Drilling Into A Volcano in Iceland

Iceland is known for its ability to produce renewable energy which covers 100% of energy demand. The largest share is geothermal and hydropower energy whereas fossil fuels are still in use but this share is constantly declining. What stands behind such good statistics, it is definitely Iceland’s unique geology which makes it fairly cheap to produce energy from a variety of natural sources. Recently, a massive drill project, named “Thor” has been in the spotlight.

Actually, drilling into volcano is an incentive that brings one’s attention. A depth has reached 4,659 kilometers and is expected to generate up to 10 times more energy than conventional methods. The drilling had begun in August, 2016 and was completed on January 25 of this year.

At the very bottom of the wellbore the temperature reaches 427 Celsius degrees and the pressure outweighs 200 atmospheres. In such conditions occurs bizarre fluid that behaves both as gas and liquid but is neither of them. This well can provide a tremendous supply of energy. It has been estimated that the capital of Iceland, Reykjavik would require between 30 and 35 usual conventional wells to provide its inhabitants hot water whereas only three to five wells like Thor could do the same.

Projects like Thor put Iceland in a role model position of a renewable energy superior producer ahead of any other country in the world. It appeals to be stunningly interesting how this small country has been pioneering in energy field.

Sources:

iflscience.com

wikipedia.org

‘East meets West’ 2017!

‘East meets West’ 2017!

From 4th to 7th of April for the 8th time SPE AGH Chapter was organizing ‘East meets West’ International Student Petroleum Congress and Career Expo. We have gathered around 250 participants representing 26 countries and numerous companies from E&P sector. This year’s edition was special thanks to SPE International which enabled us to host European Qualifier to Student Paper Contest and Petrobowl. It is worth to mention that the winners of above contests will represent European region at ATCE Conference in October in San Antonio, Texas.

The winner of SPC Undergraduate was Wojciech Labuda, from AGH UST with the paper on ‘Profitability calculations of abandoned mine methane production in the Upper Silesian coal basin’. In the Postgraduate category the best was Dongue Dongue Dietrich Kevin representing Imperial College London, with the ‘Study of grid effects on leak-off rate calculation for a numerical fracture propagating model’. The best from PhD’s was Marsha Maraj from London South Bank University presenting the paper on ‘Deriving the pore size distribution of selected reservoir material using a combined microCT and NMR approach’.

Traditionally, we had the Poster Session during which selected students could present the results of their researches and compete in the contest. All the contestants presented a very high substantive level and Yiqun Liu from DTU was announced the winner. Needless to say, emotions were running high during Petrobowl Contest. It gathered 23 teams from Europe and Caspian Region and resulted in 5 teams which will represent this region at ATCE. They were from University of Stavanger, Herriot Watt-, Gubkin-, Leoben University and the best team- AGH UST! Congratulations to all, it was a pleasure to watch you!

Debates are always a very popular point in EMW’a agenda. It was no different this year with „HSE Aspects in Oil & Gas Industry” and „Womens role in modern O&G Industry” debates. The panelists who have taken part were extremely experienced professionals and thank to that the audience could gain knowledge, interact by asking questions and raise a discussion. Both panels showed that the future of our Industry and the situation of women in s.t  is bright despite the crisis.

This Conference though wouldn’t have been such a success if not for the Partnering Companies: MOL Group, Schlumberger, Baker Hughes, EuRoPol GAZ and PGNiG. Their support enabled to organize the Congress, gave students the opportunity to find out about the chances of employment and take part in the recruitment organized by Schlumberger.

This conference is and always has been all about bringing young people together in the center of Europe, creating the environment which will enable them to gain knowledge, exchange experience and develop friendships. Seeing you all there was a true reward for the year of preparations and I hope that our efforts will resulted in fruitful event and great memories. If you haven’t take part in this edition – do not worry, next year we see each other in Krakow with even bigger amount of knowledge and experiences!