17 April 2017, Singapore
NrgEdge is pleased to welcome, Haria Djuli, coming on board as Advisor.
Haria brings with him over 11 years of experience in corporate talent acquisition in the Energy, Oil & Gas industry, spending over a decade of his career with the Shell group in various locations including the Netherlands, Qatar and Malaysia since 2005. Haria’s direct experience in various markets in Europe, Middle East and Southeast Asia gives him a strong understanding and knowledge of the competitive nature of talent acquisition in the global Oil & Gas sector. His hands-on involvement in recruiting talents ranging from roles in senior management to technicians for both onshore and offshore operations has allowed him to appreciate the various complexities and intricacies involved in meeting organizational goals in talent management. As a firm believer that organisations need to develop their own talents to build a sustainable and successful business, Haria was also actively involved in campus recruitment programs both locally in Malaysia and overseas, where he provided guidance to young university graduates on career advancement in the Oil & Gas industry.
Haria’s invaluable experience in corporate recruitment in the Oil & Gas sector provides an excellent resource for members in the NrgEdge community. His role as Advisor will certainly add value to our members’ NrgEdge experience, as he will be sharing his in-depth knowledge on best hiring practices and successful execution of hiring strategies for companies and HR personnel and insider career advice to job-seekers and students. “We are excited to welcome Haria into our team,” said Mohammad Khalid, Co-Founder and CTO, NrgEdge. “With over a decade of industry expertise hiring in the oil & gas industry with key oil major, Haria will be a great asset and will be able to provide valuable insights and guidance to the companies and users on NrgEdge.”
About NrgEdge - Refueling Employability in the Oil & Gas Industry
NrgEdge is the newest professional networking platform for the Energy, Oil & Gas industry, aimed at creating a holistic environment that will empower members to excel at every point in their career journey and to assist companies in hiring more effectively. Focusing on the Asia-Pacific region, NrgEdge has amassed close to 10,000 registered users from the Energy, Oil & Gas industry in the area since our launch in Oct 2016.
NrgEdge was born as a response to the current Oil crisis, to enable the community to retain its most qualified and experienced members and enable current and new professionals to be engaged and maintain growth while awaiting market recovery. The oil price slump has taken its toll on the O&G workforce, where over 350,000 jobs have been cut by O&G production companies since 2014. Amidst the fluctuations in Oil & Energy in recent years, some things remain constant – companies hunting skilled employees and professionals looking for new opportunities.
While the O&G industry is a mature one and conservative by convention, it is important for the industry to constantly update processes with new technologies to adapt to new audiences. This is especially crucial with the ‘skills gap’ the industry is facing, with senior professionals leaving the industry and only inexperienced new graduates to replace them, leading to a loss of valuable knowledge. NrgEdge helps to bridge this gap by creating a space for knowledge-sharing and upskilling with E-Learning initiatives such as webinars, Virtual Reality-enabled courses and Q&A forums. Jobseekers are well-equipped to explore new opportunities in the NrgEdge Job Portal with the Career Passport, a professional resume designed to showcase capabilities and key project achievements.
NrgEdge also helps Companies build their brand awareness, elevate their corporate standing and streamline hiring processes through competencies-matching to allow a more efficient workflow, where companies can easily filter and find skilled individuals that best match their job requirement and connect with current and potential employees.
From new graduates to experienced professionals and companies, NrgEdge provides a universal platform for current and potential members of the Energy, Oil & Gas industry to excel in their career.
NrgEdge is available on the web (www.nrgedge.net) and via the NrgEdge native app on both iOS and Android platforms.
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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
The engine oil market has grown up around 10 to 12% in the last three years because of various reasons, mostly because of the rise of automobiles.
According to the Bangladesh Road Transport Authority (BRTA), the number of registered petrol and diesel-powered vehicles is 3,663,189 units.
The number of automotive vehicles has increased by 2.5 times in the last eight years.
The demand for engine oils will rise keeping pace with the increasing automotive vehicles, with an expected 3% yearly growths.
Mostly, for this reason, the annual lubricant consumption raised over 14% growth for the last four years. Now its current demand is around 160 million tonnes.
The overall lubricants demand has increased also for the growth of the power sector, which has created a special market for industrial lubricants oil.
The lubricants oil market size for industries has doubled in the last five years due to the establishment of a number of power plants across the country.
The demand for industrial oil will continue to rise at least for the next 15 years, as the quick rental power plants need a huge quantity of lube oil to run.
The industries account for 30% of the total lubricant consumption; however, it is expected to take over 35% of the overall demand in the next 10 years.
Mobil is the market leader with 27% market share; however, market insiders say that around 70% market shares belong to various brands altogether, which is still undefined.
It is already flooded with many global and local brands.