NrgEdge Editor

Sharing content and articles for users
Last Updated: March 8, 2018
1 view
Business Trends
image

Market Watch

Headline crude prices for the week beginning 5 March 2017 – Brent: US$65/b; WTI: US$62/b

  • Crude oil prices began the week on a stronger note, bouncing back from market jitters of American plans to impose steep tariffs on steel and aluminium imports to trade on indications that US crude inventories continue to fall.
  • Tanks at the important storage hub in Cushing, Oklahoma are at their lowest levels since 2014, as a booming American economy and backwardisation structure in futures trading encouraging drawdowns.
  • However, despite the fall in Cushing, overall US crude stockpiles rose more than expected – up by a preliminary estimate of 5.66 million barrels - providing some drag to the market.
  • The US is expected to become the world’s largest oil producer in 2019, overtaking Russia, with Saudi Arabia remaining the world’s largest exporter for the foreseeable future.
  • The upward march of American output remains the single largest drag on crude prices, and a key variable in determining direction, as the EIA confirmed that American production shattered a 47-year old output record last November, hitting 10.044 mmb/d.
  • OPEC commented that while it was committed to ensuring the market was rebalance by mid-2018, it warned that there was a risk of an ‘upcoming energy crisis’, sown by the current seeds of under-investment.
  • The US active oil rig count hit 800 for the first time in almost three years, gaining a single site. Along with 2 new gas rigs, the US rig count stands at 981 as of last Friday.
  • Crude price outlook: Crude prices should stay steady this week, with prices in the US$65-66/b range for Brent and US$62-63/b for WTI.

Headlines of the week

Upstream

  • The hits keep coming for ExxonMobil in Guyana, as it and partner Hess made a seventh major offshore discovery in two years in the Pacora-1 well. Development will be folded into the plans for the Payara field, which should bring Guyanese output up to a potential 500,000 bpd.
  • While Turkey squabbles with Cyprus over gas fields, Greece is hoping to make its own discoveries, sanctioning development of four blocks in the west of the country by Total, Italy’s Edison and Hellenic Petroleum.
  • Mexico will be hoping that the shale revolution can begin within its borders, as it offers up nine onshore areas in Tamaulipas state that will be awarded to private firms for the first time in September.
  • Thawing relations with China, The Philippines has identified two offshore sites – SC-57 and SC-72 at Reed Bank – which could be prototypes for proposed joint upstream activities with China.
  • Bolivia’s YPFB has reportedly signed an MoU with Dubai’s Kampac Oil and London’s Milner Capital to jointly invest US$2.5 billion to developing the Madre de Dios oil and gas basin in northern Bolivia.
  • Japan’s Inpex has been awarded a 10% interest in Abu Dhabi’s Lower Zakum concession for 40 years; separately, Inpex’s stake in the Satah and Umm al Dalkh concession has also been extended for 25 years.

Downstream

  • After years of delays, Vietnam’s second oil refinery in Nghi Son is ready for commercial startup in April, processing Kuwaiti crude. The country’s third refinery, in Long Son, also broke ground last week.
  • Total is aiming to build and operate a 150 kb/d greenfield refinery in Iraq, which would be linked to the Nassirya oilfield. Originally planned for 300 kb/d, PetroChina and Lukoil are also reportedly interested.
  • Poland’s plan to push for a merger of its two state oil refiners – PKN Orlen and Lotos – has met with intense political opposition once again.
  • Tullow Oil and its partners expects to finalise the construction of an export pipeline – linking the inland Amosing and Ngamia fields to the port of Lamu – by mid-2018, clearing the way for output to begin in 2022.

Natural Gas/LNG

  • While there has been no damage to ExxonMobil’s gas pipeline in Papua New Guinea after a 7.5 magnitude quake, it will take 8 weeks to repair and restore production at the PNG LNG plant, with ExxonMobil declaring force majeure on all exports as it continues to assess damage to gas fields.
  • Dominion Energy’s Cove Point export terminal in Maryland, USA has been cleared for commercial startup, shipping its first LNG cargo to Europe, becoming the second American LNG export facility to operate.
  • Timor Leste and Australia are on the verge of agreeing on a permanent maritime border at the Permanent Court of Arbitration, paving the way to develop the Greater Sunrise offshore gas field that had been shelved previously due to disputed oceanic borders. 
  • There may finally be some movement in the Philippines’ planned LNG import facility, as four potential investors – including Tokyo Gas and domestic power player First Gen – have reportedly expressed interest.
  • Japan’s Jera and Marubeni are reportedly teaming up with Australia’s Fortescue Metals to build a 2 mtpa LNG import terminal in New South Wales, which would help ease the east coast natural gas crunch.
  • India has begun to receive its first US LNG as Cheniere begins its 20-year contract with GAIL, supplying 3.5 mtpa of LNG per year.

nrgedge news oilandgas energy weeklyupdate
3
1 0

Something interesting to share?
Join NrgEdge and create your own NrgBuzz today

Latest NrgBuzz

Must have features of a chat service agent.

Communication is an art. Period”



It is true when we say that connecting with people is not everyone’s cup of tea. The first step is listening and then responding accordingly. 



When it comes to chatting services, it becomes even more crucial to be clear and transparent.



It falls under the category of Managed Chat Services. People are trained to know inside out about a particular service/product.



But what are the exact requirements and features for anyone to become a chat service agent? Find about them below:

.

This form of communication requires the agent to understand the need of the user properly and respond in a way that the easiest for them to understand. This differs from person to person easily.



It has been found that using managed services helps in acquiring customers and converting leads easily. People get quick quality responses which creates a good image of the seller in their minds. 



Be quick in responding. This show how alert and active the employees are. If the response takes a long amount of time, then it can leave the customer frustrated. This can end up creating a negative impact on the customer. 



There can be times when a shopper can get distracted or can get busy exploring other options/varieties online. This can look like the customer has helped but the reality is far away from it. Give the user a sufficient amount of time before declaring a chat dead or unresponsive.

October, 04 2022
Propane Bullet Tank: What Is It?


A Propane Bullet Tank, also known as LPG Above Ground Tanks, is used for storing liquid natural gas. The tanks have components that best fit your company's needs and are available in various sizes.


The size of a propane bullet tank can be anything from 6,000 and 30,000 gallons, with an 18,000 tank generally the most popular. Tank fill levels should not exceed 70–80% for liquid natural gas to expand inside the vessel.


For holding trucks to reach the site and collect liquids, a tank's average pressure should be approximately 250 psi. This will keep liquid natural gas contained and under low pressure.

What & Where Is Propane Bullet Tank Used?


You're undoubtedly wondering, "Where should I utilize or keep them?" A propane bullet tank is linked to the cold separator drain on a Joule Thomson System (JTS) or mechanical refrigeration devices for the collection and short-term storage of the recovered natural gas liquids.


These tanks are also utilized in refineries and other end-use facilities for the bulk storage of goods that can be sold, such as propane or butane.


LPG is kept in propane bullet tanks because the liquid gas needs to be kept under intense pressure to remain fluid. Bullet tanks effectively do this because of their evenly dispersed, consistent pressure. Since there are no edges, there is also no possibility of a variable pressure region.



What Can a Propane Bullet Tank Do?

  1. A channel called a bulkhead stanchion prevents unintentional vehicle pull-away.

  2. The most important valve on any tank is the pressure relief valve. It is intended to release too much pressure. 

  3. The level gauge continuously measures the levels of liquid natural gas.

  4. Reduces fluid loss during emergencies thanks to the emergency shutoff valve.

  5. If trucking drives away while the hoses are still attached and move, the bulkhead, flexible hose, and hose couplings protect the piping. The flexible hoses won't break the ridged pipework; they will stretch.

  6. The high-pressure regulator controls the pneumatic pressure necessary for all ESVs to operate effectively.


GasnTools offer the most excellent propane Bullet tanks at affordable prices. Offering high-quality bullet tanks is what they are involved in doing due to their knowledge and experience in this particular field.


LPG gas is frequently kept and stored in these tanks. These LPG Above Ground Tanks serve a variety of industrial utilities quite effectively. Only top-notch raw materials and cutting-edge technologies are used when making this tank.



October, 03 2022
Where To Buy Nitrogen Gas?

Nitrogen in liquid form is a colorless, odorless, nonflammable, inert cryogenic liquid. It has a boiling point of less than -130 °F (-196 °C). Although this product is freezing, Nitrogen is widely used in chemical analysis during sample preparation. It is employed in the concentration and condensing of liquid sample volumes. It is used in the production of explosives, nylon, nitric acid, fertilizers, and color-safe operation precautions must be taken when handling or using it in Dubai.

Buy Liquid Nitrogen Cylinder in the UAE from GasNtools and improve the display of your frozen items!

Ways To Deliver Nitrogen

You must be wondering where to buy nitrogen gas. GasNtools is one of the best liquid nitrogen suppliers that can meet your needs for nitrogen gas no matter what they are. They provide nitrogen to:

  • Compressed nitrogen is offered in a variety of cylinder sizes:

40-liter nitrogen cylinder with a 6 m3 capacity at 140 bar and a 10 m3 capacity at 200 bar.

  • Different-sized pour spouts of liquid nitrogen are available.

  • Massive service: For high-volume applications, liquid nitrogen is transported in cryogenic tankers to on-site storage. It is kept as a cryogenic liquid in a vacuum-insulated vessel that can hold enough over many days and is available as either a liquid or a gas on demand.

Food Industry

It has spread throughout the industry and is now widely used in restaurants to quickly freeze liquids to ice creams and desserts for live food displays. Because liquid nitrogen has a temperature of -196 °C, the liquid ice cream mixture can be quickly cooled and frozen. Any remaining nitrogen escapes as a gas. Another advantage of freezing is that it reduces dehydration losses, which can reach crucial economic tiers with these items under ambient air. The cost of liquid nitrogen in Dubai is completely inexpensive. As a result, many customers approach GasNtools to obtain this nitrogen gas quickly and affordably.


Warnings

Although liquid nitrogen is safe in food and beverages, it should not be consumed immediately. Before providing it to the customer, it must have vanished entirely from the food or drink. Because it can be highly hazardous or devastating if not handled properly, this product is only maintained by trained chefs.

When managing liquid Nitrogen, wear dielectrics gloves and carefully made PPEs (Personal Protective Equipment).

GasNtools is Dubai's most dependable nitrogen gas supplier. They always transport nitrogen gas in a trustable container. You must use a service elevator to transport this gas.



October, 01 2022