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Oil & Gas and Petrochemicals Projects First Half 2013 Digest

Key Projects and Business Highlights

2B1st_Project_Smart_Explorer_Sales_Pursuit_ToolIf the global economy is running from one dip to another dip wondering which bubble will cause the next one, the Oil & Gas and Petrochemical sector is flying over all these issues with only one concern, how to go faster?

This question comes back from all the corners of this sector for different reasons but at the end the question turns the same.

Oil-Gas-and-Petrochemical_Projects_Smart_Explorer_MapFrom the 650 active projects, above $100 million of capital expenditure, we trace in the Project Smart Explorer data base, we never saw as many projects being developed on fast track.

The competitive front end engineering and design (FEED) which was reserved for very rare and specific cases is now becoming a common practice to short cut the months or years of bidding and redesigning projects.

Some projects start the engineering, procurement and construction phase while the costs estimation is not completed yet and the final investment decision not formally made yet.

The reasons for this hurry are specific to each market and lead to the same conclusion, how to go faster?

Summer Blog: One Day – One Country

For the Oil, the barrel price stands for years at a high plateau level well maintain by the OPEC countries and Saudi Arabia especially.

Anyway because of the global crisis and more recently with the development of the tigh oil production in USA, numbers of analysts anticipate that oil barrel prices can only go down but nobody is able to predicts when and by how much.

In the meantime all the producing companies and countries speed up their exploration and development to seal commercial agreements and weight on the market prices the day it should be necessary.

Project_Smart_Explorer_Oil_and_Gas_and_Petrochemical_projectsIn that respect the OPEC countries boost investments to maintain their targets to represent at least 40% of the world production despite North America beating its historical records on first half 2013.

In this context, West Africa is popping up again  the radar screen well supported by the pre-salt oil discoveries. 

For the gas, the decision of the US Administration to approve the first license to Cheniere Energy for its export LNG project  to countries with no trade agreement resonated in the world as a shock wave with all kinds of consequences. 

Australia is the first victim, as companies are no longer accepting its high costs and are rethinking their projects.

In opposite way other regions in the world such as West Canada,  East Africa, East Mediterranean Sea, Russia and Central Asia have confirmed their potential and intention to join the race in targeting operation in 2018 or 2020.

Downsteam, all the refining and petrochemical industries are also impacted by these changes with the consequence again to multiply projects on the drawing boards.

During this summer period, we shall propose you a “One Day – One Country” blog where we shall analyze these changes country by country in order to give you an overview of the projects to become active on this second half of 2013.

 For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer2B1st_Project_Smart_Explorer_Sales_Pursuit_Tool

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