Planning a renowned oil and gas conferences such as Asia Oil & Gas Conference and Offshore Technology Conferencerequires a skill set that includes incredible organizational and interpersonal skills, creativity, powerful teamwork and attention to detail. In addition to that, a comprehensive conference planning is required in order to give amazing impacts to people which they will make it viral online. Those people will keep talking about your event and it will be one of the most memorable conferences they have ever attended.
These successful and renowned conferences tend to be large scale events which typically take a year or more to plan. You will have more than a thousand attendeesespecially business managers and decision makers eagerly searching for business opportunities and expanding markets. Usually, they pay attention to details and everything should be perfect. This is where the challenges and feedbacks keep coming inand as an event organizer, you should hear with an open heart.
Last week, I was pleasured to attend this well-known event organizer’s Industry Reception in Mandarin Oriental Kuala Lumpur. The main agenda of the International Conference & Exhibition Professionals (iCEP) reception is to introduce us to these three big events that will captivate the eye of Malaysian Oil & Gas Industry. They are:
SPE Asia Pacific Health, Safety, Security, Environment and Social Responsibility Conference
4 – 6 April 2017, KLCC
19th Asia Oil & Gas Conference
7 – 9 May 2017, KLCC
Asia Petroleum Geoscience Conference & Exhibition
20 -21 November 2017, KLCC
The upcoming events which will take place next year would be from different disciplineas we can see on thelisted conferences above. 2017 would be an exciting year for oil and gassince everyone is predicting a higher price per barrel of oil. Fingers crossed!
The NrgEdge team would like to wish our heartiest best of luck to iCEP in organizing these gigantic events in 2017. People of the oil and energy should really keep an eye on these events to grab unexpected opportunities and knowledge. Here is a few simple tips for young graduates and students; read about the conference, keep in line of whom will be exhibiting, attend those knowledgeable slots, connect with panels and speakers, do volunteering works and most importantly, expand your circle. Many of the attendees are trying to build their following and constituents as well. So make use of the time wisely to introduce yourself! The opportunities are as wide as the sky. You will never know what’s up there for you, don’t miss it!
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Headline crude prices for the week beginning 10 December 2018 – Brent: US$62/b; WTI: US$52/b
Headlines of the week
The Permian is in desperate need of pipelines. That much is true. There is so much shale liquids sloshing underneath the Permian formation in Texas and New Mexico, that even though it has already upended global crude market and turned the USA into the world’s largest crude producer, there is still so much of it trapped inland, unable to make the 800km journey to the Gulf Coast that would take them to the big wider world.
The stakes are high. Even though the US is poised to reach some 12 mmb/d of crude oil production next year – more than half of that coming from shale oil formations – it could be producing a lot more. This has already caused the Brent-WTI spread to widen to a constant US$10/b since mid-2018 – when the Permian’s pipeline bottlenecks first became critical – from an average of US$4/b prior to that. It is even more dramatic in the Permian itself, where crude is selling at a US$10-16/b discount to Houston WTI, with trends pointing to the spread going as wide as US$20/b soon. Estimates suggest that a record 3,722 wells were drilled in the Permian this year but never opened because the oil could not be brought to market. This is part of the reason why the US active rig count hasn’t increased as much as would have been expected when crude prices were trending towards US$80/b – there’s no point in drilling if you can’t sell.
Assistance is on the way. Between now and 2020, estimates suggest that some 2.6 mmb/d of pipeline capacity across several projects will come onstream, with an additional 1 mmb/d in the planning stages. Add this to the existing 3.1 mmb/d of takeaway capacity (and 300,000 b/d of local refining) and Permian shale oil output currently dammed away by a wall of fixed capacity could double in size when freed to make it to market.
And more pipelines keep getting announced. In the last two weeks, Jupiter Energy Group announced a 90-day open season seeking binding commitments for a planned 1 mmb/d, 1050km long Jupiter Pipeline – which could connect the Permian to all three of Texas’ deepwater ports, Houston, Corpus Christi and Brownsville. Plains All American is launching its 500,000 b/d Sunrise Pipeline, connecting the Permian to Cushing, Oklahoma. Wolf Midstream has also launched an open season, seeking interest for its 120,000 b/d Red Wolf Crude Connector branch, connecting to its existing terminal and infrastructure in Colorado City.
Current estimates suggest that Permian output numbered around 3.5 mmb/d in October. At maximum capacity, that’s still about 100,000 b/d of shale oil trapped inland. As planned pipelines come online over the next two years, that trickle could turn into a flood. Consider this. Even at the current maxing out of Permian infrastructure, the US is already on the cusp on 12 mmb/d crude production. By 2021, it could go as high as 15 mmb/d – crude prices, permitting, of course.
As recently reported in the WSJ; “For years, the companies behind the U.S. oil-and-gas boom, including Noble Energy Inc. and Whiting Petroleum Corp. have promised shareholders they have thousands of prospective wells they can drill profitably even at $40 a barrel. Some have even said they can generate returns on investment of 30%. But most shale drillers haven’t made much, if any, money at those prices. From 2012 to 2017, the 30 biggest shale producers lost more than $50 billion. Last year, when oil prices averaged about $50 a barrel, the group as a whole was barely in the black, with profits of about $1.7 billion, or roughly 1.3% of revenue, according to FactSet.”
The immense growth experienced in the Permian has consequences for the entire oil supply chain, from refining balances – shale oil is more suitable for lighter ends like gasoline, but the world is heading for a gasoline glut and is more interested in cracking gasoil for the IMO’s strict marine fuels sulphur levels coming up in 2020 – to geopolitics, by diminishing OPEC’s power and particularly Saudi Arabia’s role as a swing producer. For now, the walls keeping a Permian flood in are still standing. In two years, they won’t, with new pipeline infrastructure in place. And so the oil world has two years to prepare for the coming tsunami, but only if crude prices stay on course.
Recent Announced Permian Pipeline Projects
Headline crude prices for the week beginning 3 December 2018 – Brent: US$61/b; WTI: US$52/b
Headlines of the week