Tuesday, September 2, 2014

Converting Natural Gas Prices

C — equals one hundred (100).
Ccf — equals the volume of 100 cubic feet (cf) of natural gas.
M — equals one thousand (1,000).
MM — equals one million (1,000,000).
Mcf — equals the volume of 1,000 cubic feet (cf) of natural gas.
MMBtu — equals 1,000,000 British thermal units (Btu). (One Btu is the heat required to raise the temperature of one pound of water by one degree Fahrenheit.)
Therm — One therm equals 100,000 Btu, or 0.10 MMBtu.

In 2013, the
average heat content of natural gas for the residential, commercial, and industrial sectors was about 1,025 Btu per cf; one Ccf = 102,500 Btu or 1.025 therms; one Mcf = 1.025 MMBtu or 10.25 therms.

You can convert prices from one basis to another:
$ per Ccf divided by 1.025 = $ per therm
$ per therm multiplied by 1.025 = $ per Ccf
$ per Mcf divided by 1.025 = $ per MMBtu
$ per Mcf divided by 10.25 = $ per therm
$ per MMBtu multiplied by 1.025 = $ per Mcf
$ per therm multiplied by 10.25 = $ per Mcf

 Learn more:
Natural Gas Conversion Calculator

Source: US EIA- http://www.eia.gov/tools/faqs/faq.cfm?id=45&t=8

Monday, July 7, 2014

FEEM Workshop on Oil and Commodity Price Dynamics

On June 5 and 6, 2014, Fondazione Eni Enrico Mattei is organizing at its headquarters in Milan the 2014 International Workshop on "Oil and Commodity Price Dynamics". The ambition of the workshop is to provide participants with updated and high-quality perspectives on a number of issues which are crucial to understand the complexity and the evolution of the international oil markets, the dynamics of the price of oil, the financialization and the interconnections of oil, energy and non-energy commodity derivatives markets.

Waste Plastic Depolymerisation Plant

The plastics and rubber or tires are polymers and are long chain hydrocarbons.
Plastics are manufactured from petroleum products.
These can be recycled 2 to 3 times and lastly they are thrown and used in filling grounds.
We have developed the low temperature plastic / rubber depolymerisation process.
This process is used for almost all types of polymer waste except PVC and PET.
Depolymerisation converts waste materials into following products:
Synthetic oil (similar to light diesel oil)
Hydrocarbon gas which is used to heat the depolymerisation reactor
The metals and glass materials are recovered from the waste before feeding to the reactor.
Synthetic oil can be further purified to obtain petrol (gasoline), Naphtha, Jet fuel, diesel and heavy oil.
Diesel can be used to generate electricity.


Game Changer: Unconventional Gas and Oil and the Energy Landscape

A panel of national experts—Steven Hamburg, Chief Scientist of Environmental Defense Fund; Nancy Pfund, Founder and Managing Partner of DBL Investors; Marcia McNutt, Editor-in-Chief of Science Magazine; Tupper Hull, Vice President of Strategic Communications for Western States Petroleum Association - engage in a discussion about unconventional oil and gas, including its potential impact on the economy and environment, and its overall influence on the energy landscape of the future. Recorded on 03/06/2014. Series: "Carsey-Wolf Center"

Wednesday, July 2, 2014

Tom Farrell: Future of Energy Development in the U.S.

Featuring Tom Farrell, President & CEO, Dominion Resources.

Tom Farrell speaks about the future of energy development in the U.S. He addresses the risks associated with fracking for natural gas such as groundwater contamination, earthquakes, and leakage, but says it will also lead to 725,000 direct jobs and more than 1 million indirect jobs in the U.S. Farrell also discusses the heavily-fracked Marcellus Shale Region, saying that if it were a country, it would rank eighth in the world for natural gas production.

Offshore Installations and Drilling Rigs in Norway

Deep water = Outer space ?

Waltersmith Petroman Oil outlines its Nigeria-centric strategy

Abdulrazaq Isa, founder and chief executive of Waltersmith Petroman Oil, says the Nigerian oil and gas producer's strategy is focused on delivering oil solely to the 170 million people of Nigeria.

By not exporting production Isa says this strategy is aligned with government policy aimed at adding value to the overall growth and expansion of the country's middle class.

The company forecasts that with a combination of its own and foreign capital one billion dollars of oil revenue will be generated over the next five years.

HSE in Oil and Gas 2014: Steven Wright, Karachaganak Petroleum Operating...

Chris Mawer of Karachaganak Petroleum speaking at the 4th International HSE in Oil & Gas in Russia & CIS Conference in Moscow, Russia.

The HSE in Oil and Gas: Russia and CIS Conference is a platform for discussing and solving issues on streamlining regulation, environmental protection, emergency preparedness, staff training, compliance with international standards and asset integrity management


Tuesday, July 1, 2014

Renewable Energy Saves Fortune 500 Companies Over $1 Billion

Renewable energy is dismissed by some as being only for ‘greenies’ or as some kind of fringe technology, but a recent report has shown mainstream Fortune 500 companies are using it to save hundreds of millions of dollars every year. Collectively, they are saving about $1.1 billion dollars, according to the report put out by Ceres, David Gardiner & Associates, Calvert Investments, and World Wildlife Fund (WWF).

Some of the companies and their annual savings mentioned are:

 UPS ($200 million)

Cisco Systems ($151 million)

PepsiCo ($120 million)

United Continental ($104 million)

General Motors ($73 million).

AT&T has installed 11 MW of renewable energy (as of 2013). Hewlett-Packard purchased 13% of their electricity from renewable sources in 2012. IBM has saved about $477 million from its efforts to conserve energy. Both Wal-Mart and Dell could save about one billion each through similar efforts.

Read more: http://cleantechnica.com/2014/06/30/renewable-energy-saves-fortune-500-companies-1-billion/?utm_medium=referral&utm_source=t.co

U.S. oil tankers built on spec face choppy waters as export ban eases

NEW YORK - U.S. ship builders are making a $500 million (292 million pounds) bet on robust domestic demand for crude oil from newly-tapped shale fields by building new tankers without having lined up customers to lease them.

Philly Tankers AS, majority-owned by Aker Philadelphia Shipyard is building four ships on spec, and Seabulk Tankers Inc, an indirect wholly-owned subsidiary of SEACOR Holdings Inc, is building another two. The 330,000-barrel ships, which cost about $125 million each, conform to the 1920 Jones Act, which requires ships moving between U.S. ports to be U.S.-built, -crewed and -flagged, making them about three times more costly to build and operate than a comparable foreign-flagged ship.

Read more:

Monday, June 30, 2014

In Shetland, Oil Shapes Debate Over Scottish Independence

 In September, Scotland will vote on whether to break away from the United Kingdom and declare independence.

So far, the debate has been largely about money: One poll says most voters would switch their vote if it meant an extra 500 pounds, or around $800 dollars.

North Sea oil and gas are central to this economic debate — nowhere more so than in the remote Shetland Islands, many miles from the Scottish mainland, where tankers carrying North Sea oil come ashore. The oil has transformed both the local and national economy.

Read more:

Sunday, June 29, 2014

The world has 53.3 years of oil left

BP (ticker BP ) has provided an intriguing update to its global oil reserves estimate in the company's latest yearly review of energy statistics. BP raised its reserve estimate by 1.1% to 1,687.9 billion barrels, which is enough oil to last the world 53.3 years at the current production rates. However, there's likely a lot more oil left in the tank beyond what BP sees today.

America's energy boom surges

A good portion of the growth in global oil reserves in BP's report comes from the United States. According to BP, the U.S. has 44.2 billion barrels of oil reserves, which is 26% higher than it previously thought. It's also quite a bit more optimistic than the U.S. Energy Information Administration, which recently increased its estimate to 33.4 billion barrels of reserves, or 15% more than previously thought.

The overall cause for that surge in oil reserves is that America's shale oil plays -- the Bakken, Eagle Ford and Permian Basin -- are now being unlocked through horizontal drilling technology.

Read more:

Why do oil and natural gas markets appear complacent?

 By Ross McCracken

In this month’s selection on The Barrel from Platts’
Energy Economist, Ross McCracken wonders why in the midst of so much turmoil, markets are relatively calm.

The energy sector is beset by crises, but the price response has been muted.

Two days after the fall of the northern Iraqi city of Mosul to Islamic Sunni militants, international benchmark Dated Brent was assessed at $109.77/barrel, more than $1/b less than two weeks earlier. It then rose to $113.25/b June 16, the highest level since February 2013, but still only about a 3% jump overall. By June 19, it had reached $115.31/b, falling back to $114.52/b June 20 and to $113.13/b June 23. This despite a major uprising in Iraq, chaos in Libya, a civil war in Syria, and, somewhat below the radar, the spread of Al-Queda linked activity in the Sahel.

European month-ahead gas prices at the UK’s NBP and Zeebrugge in Belgium have fallen, despite eastern Ukraine becoming the scene of armed conflict between pro-Russian separatists and the Ukrainian army. Spot LNG prices have plummeted from around $20/MMBtu at the start of the year to pre-Fukushima levels below $12/MMBtu. Both the relative calm of the oil markets and the decoupling of the dynamics of the LNG spot market and European gas prices from oil are notable.

But why so calm?

Ban on Exporting U.S. Crude Oil Is Essentially Over

When the U.S. Department of Commerce ruled that Enterprise Products Partners L.P. (EPD) and Pioneer Natural Resources Co. (PXD) could begin exporting condensate, U.S. oil refiners' stocks were pummeled. Every time the federal government puts its thumb on the scales, there are winners and losers: this time the refiners lost and production companies won.

Read more: http://finance.yahoo.com/news/ban-exporting-u-crude-oil-130049279.html


IRAQ and OIL PRICES: Interview with Global Head, Oil & Gas, Deloitte Touche Tohmatsu

With the current crisis in Iraq, crude oil prices are seeing a spike after being stable for a long while. Adi Karev, global head, oil and gas, for Deloitte Touche Tohmatsu, the New York-headquartered consultancy services network, says production disruption could hit the market badly. Edited excerpts of a talk with Jyoti Mukul:

Oil prices were around $100 a barrel and the industry had become comfortable with it. With the Iraq crisis, what impact do you see on global crude oil prices and for how long?

The price has been relatively stable, hovering around $100 but it also reached $95 and $108 in that period. Right now, the high price of crude is a market-driven reaction -- the producing fields are in the far south or east of Iraq and the rebels are reported to be fighting in the north or west. So, there is no production impact yet. But if the fighting escalates and there is impact on production, the price impact will be severe. A production disruption will have a lasting impact.

With the changed relationship between Russia and the West, do you see any change in the
US policy on gas exports?

Read more: http://world.einnews.com/article/211558807/BJhHafTvJsF7jQSX

UAE’s renewable energy goals depend on skilled workforce

By Thilanka Sooriyaarachchi and Dr Toufic Mezher

Within the next seven years, Abu Dhabi plans to get 7 per cent of its electricity from renewable energy. Dubai, meanwhile, plans to get 5 per cent of its power from renewables by 2030.

These goals will not be met without concerted effort. Effective strategies, significant investment, policy support, world class project development, and perhaps most importantly people will have to be in place to m
ake it all work.

We will need people to develop technology and systems, lead projects, run hi-tech facilities, repair machines, provide funding, and even provide critical administrative staff support. No hi-tech facility, however advanced, can run without people in all these roles.

But which people? To help answer that question, I focused my Masdar Institute thesis research on a comprehensive assessment of the UAE’s renewable energy human capital needs.

Read more:
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@TheNationalUAE on Twitter | thenational.ae on Facebook

Friday, January 31, 2014

Shell: comforting times

Less than two weeks after Royal Dutch Shell announced its first profits downgrade in a decade, the company's share price has bounced back up. Lex's Joseph Cotterill and Alan Livsey discuss why.

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President Obama on Climate Change

President Obama addresses climate change during the State of the Union on January 28, 2014.


One of the biggest factors in bringing more jobs back is our commitment to American energy. The "all the above" energy strategy I announced a few years ago is working, and today America is closer to energy independence than we have been in decades.

One of the reasons why is