The number of electric and natural gas vehicles is growing rapidly with increased government support and private sector investments reflecting major developments in the energy and transportation industries.
The oil and gas downstream sector has no less importance and effect on developing the countries’ economy than the upstream and midstream sectors. Globally, 2017 proved to be a successful year for the downstream sector in which products demand and refinery margins improved and the global market was under attempts for rebalancing. In fact, oil demand grew by 1.7%, reaching 97 million barrels per day (b/d) in 2017, having such an acceleration in the oil demand managed to support developing the downstream sector. Moreover, the increasing oil demand came in line with pushing the global economic wheel which was reflected in the growing consumption of oil products in both the Organization for Economic Cooperation and Development (OECD) countries and non-OECD countries, according to the Organization of the Petroleum Exporting Countries (OPEC) Annual Statistical Bulletin 2018.
As Egypt paves its way to achieve natural gas self-sufficiency, could there possibly be another shortcut to secure the country’s downstream activities? One might think it is not necessary to explore another alternative with the booming natural gas discoveries. However, a plan B could be the safest bet to offer a myriad of possibilities for the petrochemical industry.
A pipeline could help Libya sustain its oil exports through Egyptian infrastructure, and provides Egypt with the needed crude for its upgraded and expanded refineries.
Joint ventures (JVs) can often be a conundrum, with complicated structures and shared management teams. However, with key human resource (HR) managers, more companies opt for collaboration to modernize their business landscapes. Find out here the best HR practices that optimize JV excellence.
Currently, a wave of advanced technologies has dominated the oil and gas sector around the world, primarily to address the surging global demand through enhancing hydrocarbon recovery. Human capital remains to be the pivotal tool in achieving the industry’s goals.
An oil company could achieve as much as $1 billion in cost savings or production increases by deploying technologies that exist today.
Structural integrity management (SIM) is one of the main pillars of asset integrity management (AIM) in the oil and gas sector. SIM focuses on ensuring the asset’s structural integrity and its continuous fitness-for-purpose, allowing owners to achieve their business objectives flexibly and to ensure operations sustainability. Maintaining structural integrity guarantees that different structures of the sector will have the ability to bear any loads, including their own weight. Therefore, enhancing the integrity of oil and gas structures represents a cornerstone for guaranteeing the success of the ongoing operations.
PIMS evaluates a pipeline’s integrity across its lifecycle, from identifying risks and hazards to managing testing and mitigations to streamlining safe operations. Through proper assessment methods, PIMS identify, validate, and utilize pipeline data in order to optimize the pipeline’s integrity.
The importance of capitalizing on every asset in the oil and gas industry is fundamental. Therefore, oil and gas companies continuously aim at utilizing unused reserves, as well as ensuring that major assets are safe, well maintained, and efficiently operating. Drilling technologies have an integral role in enhancing efficiency, which drove the rising worldwide use of Managed Pressure Drilling (MPD) to drill challenging wells, taking into consideration reducing fluid losses and non-productive time (NPT).
