1- The oil and gas industry is a fast-changing industryThe change in the oil industry is not only driven by rapid changes in technology, new types of resources and the new challenges associated with it, but it is also driven by unexpected events and changes in geopolitics which could turn the oil industry up-side-down just like what happened back in 2014. To survive in such an ever-changing industry, you need to be flexible and agile. You need to be able to accept changes, stay clam and confident, adapt, plan and respond fast to these changes.2- Adaptability is key to survival and success in your careerAdaptability is an important quality that employers in fast-changing industries such as the oil industry seek to have in their employees. Take a look at the jobs' requirements of many oil and gas companies, you will find that adaptability is one of their top requirements. Schlumberger is one example. For other companies, even if it is not written there in their website, they expect you to have it.One of the job requirement as shown in Schlumberger's websiteThe nature of work in the oil industry requires you to be adaptable. You will work in different projects, with different teams and different challenges every time. Adding to these challenges, projects that you will be working on will have tight deadlines which makes it even more important to be able to adapt fast. To become successful in your career and to meet exceptions, you need to be open to new ideas, flexible to work in challenging issues, and you need to be able to cope when things don't go as planned.
1- Embrace changeHow to embrace the change? Don't waste your time worrying about things that you can't change. Instead, spend that time thinking about the the things you can change and how you want to change them. It is hard to let go of worries, but ask yourself one question. What is the point of getting stressed over thing you can't change? Does your worry change anything? If it does not, then stop it.2- Plan to change the things you can and do it fastOnce you let go of your worries and stress over things you can't change, then start planning to change the things you can change. Be realistic, and stop worrying about uncertainty. It is only fear in our minds, it does not exist. Plan your change and do it fast.
3- Marketing and branding yourselfThe recent changes in the oil industry has resulted in many oil and gas companies cutting their spending to weather the effects of low oil prices. One way to achieve that is by reducing the number of their workforce through layoffs and slowing down recruitment activities. That means, there is a high demand for jobs, but the supply is too low and this in turn created a downturn in recruitment activities and the consequence is a high competition for less jobs. In such an environment, the question is always about how to stand out of the crowd and secure the job you want or keep the one you have and avoid being laid off.There are many things you can do to stand out of the crowd such as writing irresistible CV and cover-letter, educating yourself and staying up-to-date with the industry events, developments and new technologies, connecting with people in the industry, building relationships, having professional memberships and volunteering in activities and events to gain experience. All these things will add value to you and help you stand out, but what is the point of doing all these things if you can't show them to your potential employers. It is like having a great product and the worst marketing strategy, you end up selling nothing.What is the point of doing all these things if you don't use them to sell yourself, market your skills and competencies and create a brand for yourself. By marketing and branding here, I don't mean doing that on CV, because no matter how good is your CV, you only send it to few companies and due to the high number of applications as a result of the high rate of unemployment, the chances of your CV getting noticed is too low. What I am talking about here is the online marketing and branding.For me, online marketing and branding is the best type of branding, because you only have to work hard on it for one time and it will continue to promote you even when you are sleeping. It will even promote you to companies you never knew and others whom you never thought of sending your application over to them. That is the power of online marketing and branding.
1- The first stepsThe first steps are the initial steps that you should go through in order to develop a strong personal brand. These steps involve defining youroverall aspirations, conducting research, defining your brand attributes, assessing your current state and creating your branding plan.These are the initial steps that you should go through to get you started. Here is agreat article by Lisa Quast on Forbes which will walk you through these steps in more details.2- Select a platformOnce you are done with the first steps, it is time to find the platform where you will be doing all the branding. To brand yourself, you need a platform, and since you are in the oil industry, you need a platform that is fully dedicated for oil and gas professionals. One of the choices you have is NrgEdge. It is a new oil and gas professional platform, dedicated to oil and gas professionals, and it has many features to help you brand yourself. Other platforms such as LinkedIn, Twitter, and other social media platforms are also a good place to start. In the coming days, I will share an article explaining how to brand yourself in social media based on my personal experience, stay tuned.3- Continue to ImproveMarketing and branding is not a one time job. Things change and improve, and you too. You will cultivate new skills and gain new experiences. When that happens, you need to update your online profiles. Allocate a time every month to check your online profiles for improvement and updates. As you grow and improve, you will find things to improve.
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Headline crude prices for the week beginning 9 September 2019 – Brent: US$61/b; WTI: US$56/b
Headlines of the week
Detailed market research and continuous tracking of market developments—as well as deep, on-the-ground expertise across the globe—informs our outlook on global gas and liquefied natural gas (LNG). We forecast gas demand and then use our infrastructure and contract models to forecast supply-and-demand balances, corresponding gas flows, and pricing implications to 2035.Executive summary
The past year saw the natural-gas market grow at its fastest rate in almost a decade, supported by booming domestic markets in China and the United States and an expanding global gas trade to serve Asian markets. While the pace of growth is set to slow, gas remains the fastest-growing fossil fuel and the only fossil fuel expected to grow beyond 2035.Global gas: Demand expected to grow 0.9 percent per annum to 2035
While we expect coal demand to peak before 2025 and oil demand to peak around 2033, gas demand will continue to grow until 2035, albeit at a slower rate than seen previously. The power-generation and industrial sectors in Asia and North America and the residential and commercial sectors in Southeast Asia, including China, will drive the expected gas-demand growth. Strong growth from these regions will more than offset the demand declines from the mature gas markets of Europe and Northeast Asia.
Gas supply to meet this demand will come mainly from Africa, China, Russia, and the shale-gas-rich United States. China will double its conventional gas production from 2018 to 2035. Gas production in Europe will decline rapidly.LNG: Demand expected to grow 3.6 percent per annum to 2035, with market rebalancing expected in 2027–28
We expect LNG demand to outpace overall gas demand as Asian markets rely on more distant supplies, Europe increases its gas-import dependence, and US producers seek overseas markets for their gas (both pipe and LNG). China will be a major driver of LNG-demand growth, as its domestic supply and pipeline flows will be insufficient to meet rising demand. Similarly, Bangladesh, Pakistan, and South Asia will rely on LNG to meet the growing demand to replace declining domestic supplies. We also expect Europe to increase LNG imports to help offset declining domestic supply.
Demand growth by the middle of next decade should balance the excess LNG capacity in the current market and planned capacity additions. We expect that further capacity growth of around 250 billion cubic meters will be necessary to meet demand to 2035.
With growing shale-gas production in the United States, the country is in a position to join Australia and Qatar as a top global LNG exporter. A number of competing US projects represent the long-run marginal LNG-supply capacity.Key themes uncovered
Over the course of our analysis, we uncovered five key themes to watch for in the global gas market:
Challenges in a growing market
Gas looks the best bet of fossil fuels through the energy transition. Coal demand has already peaked while oil has a decade or so of slowing growth before electric vehicles start to make real inroads in transportation. Gas, blessed with lower carbon intensity and ample resource, is set for steady growth through 2040 on our base case projections.
LNG is surfing that wave. The LNG market will more than double in size to over 1000 bcm by 2040, a growth rate eclipsed only by renewables. A niche market not long ago, shipped LNG volumes will exceed global pipeline exports within six years.The bullish prospects will buoy spirits as industry leaders meet at Gastech, LNG’s annual gathering – held, appropriately and for the first time, in Houston – September 17-19.
Investors are scrambling to grab a piece of the action. We are witnessing a supply boom the scale of which the industry has never experienced before. Around US$240 billion will be spent between 2019 and 2025 on greenfield and brownfield LNG supply projects, backfill and finishing construction for those already underway.50% to be added to global supply
In total, these projects will bring another 182 mmtpa to market, adding 50% to global supply. Over 100 mmtpa is from the US alone, most of the rest from Qatar, Russia, Canada, and Mozambique. Still, more capital will be needed to meet demand growth beyond the mid-2020s. But the rapid growth also presents major challenges for sellers and buyers to adapt to changes in the market.
There is a risk of bottlenecks as this new supply arrives on the market. The industry will have to balance sizeable waves of fresh sales volumes with demand growing in fits and starts and across an array of disparate marketplaces – some mature, many fledglings, a good few in between.
India has built three new re-gas terminals, but imports are actually down in 2019. The pipeline network to get the gas to regional consumers has yet to be completed. Pakistan has a gas distribution network serving its northern industrial centres. But the main LNG import terminals are in the south of the country, and the commitment to invest in additional transmission lines taking gas north is fraught with political uncertainty.
China is still wrestling with third-party access and regulation of the pipeline business that is PetroChina’s core asset. Any delay could dull the growth rate in Asia’s LNG hotspot. Europe is at the early stages of replacing its rapidly depleting sources of indigenous piped gas with huge volumes of LNG imports delivered to the coast. Will Europe’s gas market adapt seamlessly to a growing reliance on LNG – especially when tested at extreme winter peaks? Time will tell.
The point-to-point business model that has served sellers (and buyers) so well over the last 60 years will be tested by market access and other factors. Buyers facing mounting competition in their domestic market will increasingly demand flexibility on volume and price, and contracts that are diverse in duration and indexation. These traditional suppliers risk leaving value, perhaps a lot of value, on the table.
In the future, sellers need to be more sophisticated. The full toolkit will have a portfolio of LNG, a mixture of equity and third-party contracted gas; a trading capability to optimise on volume and price; and the requisite logistics – access to physical capacity of ships and re-gas terminals to shift LNG to where it’s wanted. Enlightened producers have begun to move to an integrated model, better equipped to meet these demands and capture value through the chain. Pure traders will muscle in too.
Some integrated players will think big picture, LNG becoming central to an energy transition strategy. As Big Oil morphs into Big Energy, LNG will sit alongside a renewables and gas-fired power generation portfolio feeding all the way through to gas and electricity customers.
LNG trumps pipe exports...
...as the big suppliers crank up volumes