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Last Updated: October 6, 2017
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Last week in World oil:

Prices

  • With OPEC production rising in September as supplies from Nigeria and Libya recover, and US drilling numbers also show improvement, crude oil prices fell slightly from their recent highs – with Brent trading at about US$56/b and WTI at US$50/b.

Upstream

  • Chevron is committing some US$4 billion to ramp up crude production in the Permian Basin, aiming to grow its production there from 90,000 b/d in 2016 to over 400,000 b/d over the next five years. With a report calling the Permian a ‘super basin’ with some 60-70 billion barrels yet unpumped, Chevron expects production across all producers in the Permian to rise to 3.8 mmb/d in 2020, from a present 2.4 mmb/d.
  • Brazil’s latest round of oil block auctions revealed one very big winner – ExxonMobil – and one very big loser – the Santos basin. ExxonMobil bet big on the offshore pre-salt Campos basin, taking its first Brazilian blocks in five years. A total of eight blocks were handed to ExxonMobil, six in partnership with Petrobras, with changes in Brazilian regulations allowing private players to operate blocks on their own now. This could make ExxonMobil the pre-eminent pre-salt crude producer in Brazil. Meanwhile, of the 76 blocks offered in the prized offshore Santos basin, only one received a bid – by Australia’s Karoon Gas – a sign that in a persistent low oil price environment, upstream companies are still wary.
  • American drillers added oil rigs for the first time in seven weeks, as six new sites (mostly in Utah) brought the total oil rig count to 750 and the total rig count to 940.

Downstream & Midstream

  • Pemex’s largest Mexican refinery– the 330 kb/d Salina Cruz site – will remain offline until the third week of October, as a series of natural disasters including flooding, storms and two earthquakes devastated its refining production, causing product shortages across Mexico.

Natural Gas and LNG

  • The Ruby well in the Dutch North Sea cold hold more gas than previously anticipated, which would be a shot in the arm for waning gas production in the Netherlands. Flows from the well 20km offshore have been encouraging; with estimates suggesting it could contain some 2 trillion cubic feet of gas, more than the country’s current annual production. The partners on the Ruby well as Oranje-Nassau Energie, Energie Beheer Nederland, Hansa Hydrocarbons and Avista Capital Partners.
  • Trader Glencore has agreed to purchase Angola LNG in a multi-year deal that represents a new foray for the country. Angolan LNG has mainly been sold on the spot market – as the shale boom curtailed Angola’s initial plan of shipping LNG to the US – but the Glencore deal joins similar longer-term contracts signed by Angola with Vitol and Germany’s RWE, as jitters about Angola LNG’s reliability as a supplier fade. Russia major Gazprom has also signed a recent long-term deal, with Ghana National Petroleum Corp, to purchase LNG over a 12 year period beginning 2019. Details on volumes, however, were not released.

Last week in Asian oil

Downstream & Midstream

  • Petronas Chemicals has agreed to sell a 50% stake in its PRPC Polymers subsidiary to Saudi Aramco for some US$900 million. The sale will be completed by 15 March, 2018, when the new shareholding structure for the previously wholly-owned company takes effect. Devoted to developing, constructing and operating polymers and glycol plants in Malaysia, but having yet started operations, the tie-up with Saudi Aramco bring in a deep-pocketed partner for Petronas, while being part of Aamco’s diversification plan. Aramco and Petronas are already partners in the massive US$27 billion RAPID project in the southern state of Johor.

Natural Gas & LNG

  • Australia has let Shell, ConocoPhillips, Origin and Santos off the hook for the current gas shortage in the eastern states for now. The government had threatened to impose export curbs on the four producers if they did not redirect supplies meant for LNG export to the domestic market. There are three LNG export plants currently on Australia’s east coast, and the deal with the government will see the plants act on their promise to provide supplies to meet the government’s projected shortfall of up to 17% of domestic demand in 2018.
  • Woodside is partnering with Chevron to pick up three new exploration blocks off the north-west coast of Australia. With equal stakes in the permits, both companies are eyeing gas from the WA-528-P, WA-529-P and WA-530-P permits in the Carnarvon Basin to supply their respective – and competing – LNG plants in Western Australia. Operated by Chevron, the gas blocks are ideally placed some 250km north-west of the existing Pluto, Gorgon and Wheatstone plants, increasingly important as an LNG supply point to East Asia.
  • Thailand has decided to delay its auctions for the Erawan and Bongkot gas concessions for at least another month, expecting to only announce the winners in the middle of 2018. Chevron currently operates Erawan and state firm PTTEP operates Bongkot, with licenses set to expire in 2022 and 2023. Combined, both fields account for some 76% of Gulf of Thailand output, with the delay stemming from a government review of the new PSC terms to be used for the new licences. Chevron and PTTEP are bidding to keep the fields, while local firms Bangchak and Palang Sophon, along with Abu Dhabi’s Mubadala Petroleum and Japan’snMitsui Oil Exploration, are also in the running.
  • South Korea’s KOGAS is planning to build the country’s fifth LNG import terminal, targeting operational usage by 2025. The plant – which is planned to have ten 200,000 cbm storage tanks and associated infrastructure at the port of Dangjin near Incheon - will join the existing terminals at Incheon, Pyengtaek, Tongyeong and Samcheok.
  • India’s Reliance has outbid its rivals in a competitive auction for coal-bed methane produced from its own blocks in central India until at least March 2021. Reliance will purchase up to 3 million cbm/d of coal seam gas from its blocks in Sohagpur East and Sohagpur West in Madhya Pradesh, to be used as petrochemical feedstock.

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Infographic: Oil and Gas Scams & How to avoid them!

Oil and gas sector is one of the most lucrative sectors for job seekers from industries all over the world. It offers great salaries and benefits packages and an opportunity to travel and work overseas. Due to its high demand, scammers are preying on the vulnerable oil and gas workers. To ensure you don’t fall prey to their mischievous tactics, we would recommend reading our guideline below:

How does scamming occur? 

The scammer poses as an employer or recruiter of an oil and gas company or he may claim to be an employee or recruiter for a job consultancy firm catering to the oil and gas industry. They offer irresistible employment opportunities and often demand money in advance to conduct further processes. Money is often demanded on the pretext of work visas, travel expenses, background or credit checks that the job requires.

What do scammers want from you?

 It is important to understand what the scammer's agenda is so that it helps you shield yourself from getting conned:

To extract money: On the pretext of getting you a job in the energy sector employing any of the tactics mentioned above

For identity theft: scammers look for valid identity of people and ask for confidential personal details including bank details to commit fraud through your name or to withdraw money from your account.

Whatever be their modus operandi, their goal is to either separate you from your cash or accomplish an identity theft. The bigger problem is, the scammers are getting better at their game and coming up with innovative ideas to lure innocent job seekers. In oil and gas industry, the scammers are targeting the job seekers from overseas, immigrants or contractors as they feel it is easier to attract them on the pretext of work permits, high salaries, paid travel, better lifestyle in the first world countries.

How to spot a job scam and keep yourself secure?

 There is always a difference between real and fake, all you need to do is be watchful to notice the underlying discrepancies. There is a pattern that scammers usually follows, which is discussed below. Make sure you watch out for these red flags when you receive any job offer next time:

Free email provider - No legitimate hiring agency or company will use the services of free email provider like Gmail, Hotmail, or Yahoo. So, if you are receiving an email or have been requested to share your details on emails that use free email services, then be extremely cautious. The scammers try to trick the job seekers by using an email address that looks authentic for instance: [email protected]. It is important to notice here that the ‘xyz’ part of the email ID is usually a gmail, yahoo, etc. which is a free email address. A legitimate job provider would never use.

Fake or new company name - If company name or oil and gas recruitment agency name is mentioned along with the free email id, then do a quick search on the company. Verify its existence and contact them via official email address and contact numbers mentioned on the website. Check their social media presence too. If the website and social media page look new while the company claims to be in business for a substantial amount of time, know for sure that there is something fishy.

Bad grammar and confusing job details - The scammers usually do not pay much attention to structure the mail. You can spot grammatical errors and even the job descriptions are not explained well or is completely different than your skillset and experience. Any authentic mail from a company or oil and gas recruitment agency will ensure an error-free, concise, and clear communication

Fee to conduct a job interview - No legitimate oil and gas company or recruitment agency will ever ask for money to conduct a job interview or to apply to job positions. If the mail says, the money will be refunded once you appear for a job interview, then please do not trust such claims as it is always bogus.

Asking for confidential personal information - Anyone asking for information that you will never put on CV, is a warning sign. It includes your bank details, passport copy, identity cards, your current residential details and so on. No genuine company will ever ask for such details before you sign the offer letter. If by chance, you have shared your bank details or another confidential detail to the scammer, contact your bank and email service provider and register a complaint against it.

Unknown source - There are countries who have strict spam rules and until you subscribe or give consent to the company, they cannot send you emails. So, if you receive an email from a company you haven’t contacted or have not applied for jobs, then be cautious it might be a scam.

The principle on which scammers operate is “Too good to be true”.  Don’t entertain any job offer that offers a position, you are not qualified for or offers a salary which is unrealistically high. In the oil and gas sector, be careful not to reveal your passport/work visa details to the scammer. Remember, if you find anything which is way beyond the realistic expectations, then trust your instincts and drop the offer and do not respond.

See our infographic below for a quick summarized glance -


 If you are looking for a job in the Energy sector then sign up today to stay updated with the latest industry news, apply for jobs and network - https://www.nrgedge.net/jobs 

November, 04 2018
Infographic: Pros and Cons of App Based Talent Search in Oil and Gas


Searching for the right talent is often a tedious chore for the HR. However, with technological improvements, the usage of app-based recruitment has increased manifold. Recruiters and job seekers are increasingly adopting this new method. A mobile application simplifies the labor-intensive and time-consuming recruitment task and comes loaded with features that help to automate the recruitment cycle. For all the good, app-based approach can do, it still comes under fire from the critics. Here's our take on the pros & cons of App-based talent search.


November, 16 2018
Asif Mukri
I am Asif Mukri as STOREKEEPER with 3 years of experience i am searching a new opportunity as Warehouse Assistant OR Store Man OR Storekeeper. Please Contact me +919588663322 / +919004351849 Email. [email protected]
November, 15 2018