<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>
 

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.

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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!

YoungPetro 20th Issue Summer 2017

YoungPetro  20th Issue  Summer 2017

The new semester has arrived, spring is also already here and ‘East Meets West’ – International Student Petroleum Congress & Career Expo starts in 3 days. All that signs encouraged YoungPetro Team to deliver fresh and full of content the 20th issue of YoungPetro Magazine. We hope that you will find joy in reading articles developed by our authors and ambassadors. Should you have any questions, do not hesitate to contact us.