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BP LEGACIES FROM LORD BROWNE’S GREEN TO HAYWARD’S PROCESS SAFETY

June 11, 2010

Analysis of:The Oil Disaster Is About Human, Not System, Failure | online.wsj.com

BP was transformed into a major multinational oil company under the leadership of Lord Browne with environmental safety characterized as number one priority. Tony Hayward’s legacy is still up in the air and with current Macondo disaster it is in danger. It is suggested that Hayward continues and replaces the process safety as the number one corporate priority.

SHALE GAS FROM USA to EUROPE EXXON FOLLOWS THE LIGHTS

November 7, 2009

Analysis of:Technology to Help Meet Germany's Cleaner Energy Future | www.bakerinstitute.org

Shale Gas has become a target for exploration and development in Lower Saxony, Mako Trough, Baltic, East Paris, Weald, Vienna, Cambrian Alum and Dadas in Turkey by companies like ExxonMobil, Shell, OMV, Falcon Oil and Gas, 3Legs Resources, Toreador Resources and EurEnergy Resources.

Threshold was exceeded in Iraq Risk Service Contracts

November 2, 2009

Analysis of:Eni closes in on Iraq Zubair deal | www.upstreamonline.com

BP agreement in October of 2009 has helped the Iraqi Oil Ministry to exceed the threshold. New agreements will mean billions of dollars of investment dollars for the international oil companies and similar amount of revenue potentials for the oil and gas service industry.

The End Justifies the Means: Russia, Germany and Turkey

October 30, 2009

Analysis of:The story of gas | www.todayszaman.com

European energy supply diversification policy is in contrast between the EU directives and German energy policy decision. Germany and Russia is very much integrated in both upstream and downstream sectors.

Akcakoca Gas Field Turkey: Toreador sale to Petrol Ofisi has troubles

January 2, 2009

Analysis of:Toreador Notified by Petrol Ofisi of Claims of Changes in Conditions in Black Sea Asset and Agrees to Meeting to Resolve Issues | phx.corporate-ir.net

Akcakoca discovery was considered the biggest event in 2004. Project development in offshore Akcakoca waters amounted significant costs.   Production amounts came in significantly lower than expected flow rates and lower proven reserves.   More development costs are in operator’s work plans. Toreador’s plan for providing the future development costs by the project cash flow is becoming less possible.

Sonic Gauge: Revolutionary Permanent Bottom Hole Data Acquisition

December 28, 2008

Analysis of:Downhole gauge aims to cut interventions | www.upstreamonline.com

Proposed assembly utilizes similar electronic downhole sensor but a revolutionary and practical data transmission system.   Proposed product price is quite advantageous to the rival techniques   Once deployed, users will not be dependent on service providers for a period of 18 months to two years

Selmo Oil Field Turkey: Takeover fight for Incremental Oil, between Cooper Energy and TransAtlantic Petroleum

December 28, 2008

Analysis of:TransAtlantic has 18.87% of Incremental Petroleum | www.businessspectator.com.au

Selmo field is the biggest and currently only producing asset in Incremental Petroleum portfolio.   Weakening share prices at or below enterprise values are turning these companies as takeover candidates.   Acquisition of this asset with proved developed reserves will greatly benefit the new owner at current low oil prices and establish a foothold in the region close to Middle East.

TANGANYIKA, SINOPEC AND HEAVY OIL DEVELOPMENTS IN SYRIA

November 3, 2008

Analysis of:Sinopec Launches Take-over Bid For Tanganyika Oil | www.oilvoice.com

Syria is a declining oil producer under US Embargo. Sinopec is expanding their spheres in oil and gas production besides their core refining business. The Tanganyika acquisition is a difficult operation due to intense reservoir technology. If Tanganyika success continuous with this takeover, it will open a new opportunity for the heavy oil bearing Middle East carbonates.

Nortern Iraq Oil Pioneer DNO lost 2/3 of its stock value in last 2 months

October 17, 2008

Analysis of:Iraq says DNO has no export licence | www.upstreamonline.com

Major implications are in the safety of the contracts signed with the Kurdistan Regional Government and requirement of more funding in the absence of oil exports.

First Ring Fenced Iraqi Oil Field Scorecard

May 14, 2008

Analysis of: DNO International: Reports Strong First Quarter Results | www.dno.no

DNO 2008 First Quarter results reveal the latest action in the North Iraq petroleum business. Results show the effects of revised PSA terms, amount of finding and development costs. It also shows the power that the controlling authority has over the equity rights.

Search for a Contract Type in Iraq

May 2, 2008

Analysis of:Iraq to 'fast track' oil bids to boost production, sets June TSA deadline | www.upi.com

·        Iraqi Oil Ministry opposes foreign or private ownership of natural assets, as contemplated by the production sharing type contracts (PSCs). ·        PSCs allow the oil companies book their share of the reserves and cost oil in barrels, indirectly correlating with their book values. ·        Iraq and most of oil producing countries are in need of international oil company experience in geology, engineering and production methods. ·        Oil Companies takes venture risks and earn equity from their projects. ·        Service companies take no equity risk and perform the prescribed work by the oil companies. ·        There is a growing concern of resource nationalism all over the world amid increasing oil prices. ·        There has to be a mutually beneficial solution between the oil companies and the producer states.

Chances of 2008 Oil Export out of Kurdistan Region of Iraq

April 4, 2008

Analysis of:UPDATE 2-DNO "quite confident" of Iraq oil exports in 2008 | www.reuters.com

DNO officials increasingly more transparent, expressed their strong believes that the regional Kurdish government authorities gave indications of agreement between the regional and central government in oil export rights. If achieved, this would mean an agreement on oil revenue sharing and oil law for Iraq.

Modifications to older PSAs and New Discovery Well in North Iraq, Kurdistan Region

March 17, 2008

Analysis of:Norway's DNO inks new PSC terms in Iraq, flows oil at new find | www.platts.com

Older PSA agreements are under revision for interest dilution in Northern Iraq by the Kurdish Regional Government. At the end of last year more than 15 new agreements were signed with foreign companies. The release of new well activity by DNO in their Erbil EPSA is the first discovery well this year.

Umid Field Azerbaijan, New Exploration Activity in the Caspian

March 17, 2008

Analysis of:Gas Reserves of Azerbaijan Offshore Field Likely to Reach 300bln cu m: SOCAR President | capital.trendaz.com

Neither new discovery nor exploration activity is reported in the Caspian region. This project, if proves to be fruitful may catalyze new interest to the region.

Kurdish Oil Contracts in Northern Iraq

December 3, 2007

Analysis of:EU, US oil firms’ uneasy gamble in Northern Iraq | www.neurope.eu

1. Iraq in general and Kurdish sector in particular remain as the world’s most untouched hydrocarbon reserve source amidst in the most politically turmoil country and at the highest commodity value period. 2. Respective Oil Laws and model concession agreements accepted in KRG and still negotiated in Central Government are similar, but both legal documents are very unacceptable in the minds of both Shiite and Sunni Iraqi divisions represented in the oil sector and legislation. 3. The KRG is moving towards unilateral actions and semi-independence as a result of Central Government indecision. EU, USA and most important neighbor Turkey is watching these developments with caution.

Gazprom strategies and energy supply to Europe

November 23, 2007

Analysis of:South Stream deal 'on the table' | www.upstreamonline.com

1.Gazprom wants to remain as monopole to supply and determine the price to Europe 2.North Stream project involved Germany as the partner 3.Proposed South Stream project targets Italy as the partner 4.Italy is already in a progressing project to bring Azeri gas to Europe via Turkey and Greece

IRAQ OIL LAW

May 10, 2007

Analysis of:Why Iraqis Cannot Agree on an Oil Law | www.cfr.org

Integrity of Iraq

Security of people in Iraq

Fair distribution of national income

Ceyhan Crude Oil Futures Exchange

February 26, 2007

Analysis of:Middle East Crude Pricing and the Oman Crude Oil Futures Contract: A Critical Assessment. | www.oxfordenergy.org

 

• Reliance of Brent and WTI futures for the price discovery
• Physical delivery requirement
• Oil price manipulation and price transparency
• Declaiming and marginal oil markers
• Concentration of ownership and storage facilities
• Oil prices are increasingly determined by the futures markets

Caspian Oil to Asia via Israel

February 26, 2007

Analysis of:An Eastern Mediterranean Oil War? | www.defense-update.com

 

• Meetings between Turkish and Israeli officials
• Underwater pipeline transportation of oil, gas water, and electricity from Turkey to Israel
• BTC pipeline with no Russian or Iranian influence
• Ashlelon to Eliat connection for Red Sea transportation route

Azerbaijan and Underground Natural Gas Storage

February 26, 2007

Analysis of:Azerbaijan to reconstruct underground gasholders | en.apa.az

 

Net gas importer

Gas Exploration the Caspian

Potential exporter

Inferior infrastructure

Trans Caspian Gas Pipeline

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