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Collaborating Authors
Atlantic Basin
Abstract Petrobras achieved a gross income of US﹩ 93.8 billion in 2006, and a net profit of US﹩ 12.8 billion. It had an average daily production of 2,298,000 barrels/day and by the end of the year had a total of 47,955 employees (of the holding). In 2012, production shall reach 3,494,000 barrels/day and a total number of direct employees of 62,000, representing 52% and 29% growth rates respectively. Within this time frame, investments in the range of US﹩ 112.4 billion are projected. The 2020 strategic plan keeps the commitment to the sustainable development, and stresses the challenges in the natural gas and biofuel markets. Petrobras vision now includes becoming one of the major five integrated energy companies world wide. The plan emphasizes excellence in performance operations, technological management and human resources, key factors for implementing the Company strategies. This sets the HR strategic goals within which "guarantee adequacy of the workforce and the development of the technical and managerial competences needed for Petrobras' strategy". To attend Company growth, it has become necessary to consider the profile of the current workforce with an average age of 42, and 48% with over 20 years tenure. Since 2002, through a public selection process, 17,500 new employees were admitted, 7,700 in 2006. In 2007, 171,000 candidates ran for the 163 positions available, which is over 1000 candidates per position. Through the corporate university, the Company has been investing heavily in development programs, mainly in formation courses for the new employees, which could last as long as one year. Between 2004 and 2006 Petrobras invested US﹩ 481 million in developing its professionals, US﹩ 173 million last year. Since it joined the Dow Jones Sustainability Index (DJSI) in 2006, it was twice considered as a benchmark at developing human asset, one of the variables of the social dimension.
- Government > Regional Government > South America Government > Brazil Government (1.00)
- Energy > Oil & Gas > Upstream (1.00)
- Energy > Renewable > Biofuel (0.87)
- South America > Brazil > Rio de Janeiro > South Atlantic Ocean > Santos Basin > Block BM-S-11 > Tupi Field > Lula Formation (0.99)
- South America > Brazil > Rio de Janeiro > South Atlantic Ocean > Santos Basin > Block BM-S-11 > Tupi Field > Guaratiba Formation (0.99)
- South America > Brazil > Rio de Janeiro > South Atlantic Ocean > Santos Basin > Block BM-S-11 > Tupi Field > Cernambi Formation (0.99)
- (7 more...)
Abstract The demand for energy is projected to increase robustly in emerging economies, particularly China and India. Both are the largest holder, producer and consumer of coal - hence pollution is the biggest challenge in these economies. Natural gas could provide an opportunity to fuel these growing economies and could also contribute to reduction in pollution. In anticipation of higher natural gas demand due to security of supply and environmental consideration, almost all LNG producers are aggressively expanding LNG production. However, the recent natural gas discoveries and availability of other possible import avenues especially in emerging economies has raised number of question for the future prospects of LNG industry. For example, availability of imported natural gas, sizable coal reserves and weaker domestic demand for natural gas has put China in a strong position. Most recently negotiations between China and Australia's Gorgon LNG broke down on price related issues - signalling that Beijing may be attaching somewhat of a low priority to the development of natural gas market than expected by many LNG producers. The objective of this paper is to analyze the global natural gas and LNG market from both the producers and buyers perspective. It is intended to analyze how existing and new LNG producers are positioning LNG projects in anticipation of higher natural gas demand and how the natural gas consuming countries are gearing up their efforts to absorb growing volumes of gas. Should all the LNG projects including those under consideration materialize, and in view of flexibility of buyers, what are the possible implications on LNG prices and bargaining position of LNG sellers/buyers? Or are we moving back to a historical buyers market? The paper also intends to discuss the regional natural gas outlook and briefly review the challenges and opportunities ahead of LNG industry. Introduction During the last few years, LNG industry has witnessed significant changes. Strong natural gas demand mainly driven by economic growth, security of supply and environmental consideration in particular, are most noticeable. Robust demand is mainly associated with the emerging economies of Asia, such as China and India and revival of natural gas demand in America due to stagnant domestic production, and expected decline in Canadian imports. Historically, Europe has relied on pipeline gas imports from Algeria and Russia. In the light of changing economic and geopolitical situation, major European countries, are now exploring other possible diversified import options to ensure stable and reliable supply of energy resources. LNG, due to its distinct advantages in terms of environment and energy efficiency, has become a globally traded commodity. This allows buyers greater flexibility to import from multiple sources, irrespective of location and help in mitigating security of supply issues. Due to its distinguished advantages, LNG market is likely to further flourish in meeting the growing demand of major energy consumers. At the same time the industry also likely to face stiff competition. The objective of this paper is to analyze the global natural gas and LNG market from both the producers and buyers perspective.
- North America > United States (1.00)
- Asia > Middle East (1.00)
- Africa > Middle East > Algeria (0.35)
- Asia > China > Beijing > Beijing (0.24)
- Energy > Oil & Gas > Midstream (1.00)
- Government > Regional Government > North America Government > United States Government (0.68)
- South America > Atlantic Basin (0.99)
- North America > Atlantic Basin (0.99)
- Europe > Atlantic Basin (0.99)
- (2 more...)
ABSTRACT Forecast to grow at seven per cent per annum, world LNG trade has proved to be the ‘vector of growth’ for the natural gas market. Not only have demand and prices shot up, the number of projects and the investment required to meet growing demand have gone the same way up. If the loaded pipeline of LNG projects on the drawing board is anything to go by, the future looks bright. The projects would require billions of dollars to bring to production. Without finance, the growth trend currently witnessed in the LNG trade and anticipated to continue would be unsustainable. True, 'the world runs on energy and energy runs on finance'. So, where does the money come from, given the rapid changes in global financial and oil and gas markets? The paper discusses the contemporary trends in global markets and shares learning points from successful financing deals which have helped the growth of Nigeria LNG's Bonny Island plant. Already Africa's largest single industrial site, the Bonny Island plant is among the world's fastest growing. Nigeria LNG's shipping subsidiary, BGT, has one of the largest dedicated fleet of LNG vessels. How were these feats achieved within a decade and how is financing part of the growth strategy of the future? How robust are third-party financing options amid the global equity and debt market turmoil triggered by the summer 2007 US subprime mortgage crisis? The paper sets out success templates for LNG and related business, seeking to access global finance for their projects.
- South America > Atlantic Basin (0.99)
- North America > Atlantic Basin (0.99)
- Europe > Atlantic Basin (0.99)
- (5 more...)
Abstract A review of the international exploration scorecard shows that we are struggling to replace reserves via the bit. Companies are consistently relying more on field growth and mergers and acquisitions to keep up their reserve replacement ratios. Much of this is due to the decreasing size of prospects and/or discoveries. Some is also due to the shift by majors away from risk as Wall Street punishes those who miss short-term targets severely. Compounding these two factors is the overall decrease in wildcat drilling, which is led by an almost 80% decrease in drilling by majors. Other above ground risk factors such as access are complicating the situation further. Despite this pessimistic outlook, explorationists are more successful than ever, with a NFW success rate of 40% internationally, and locally as high as 80% in some plays offshore and in new areas. Thorough mid-year 2007, drilling resulted in the discovery of 2 supergiants (>500mmboe) and 20 fields over 100 mmboe. Many of these were operated by NOCs, leading to the changing of the guard in exploration. This talk will focus on technical issues and review the major successes and trends of 2007 and highlight potential future international trends/ plays and opportunities, offshore and onshore.
- Africa > Middle East > Libya (0.30)
- Asia > Middle East > Iraq (0.29)
- North America > United States > New York > New York County > New York City (0.24)
- South America > Atlantic Basin (0.99)
- North America > Atlantic Basin (0.99)
- Europe > Atlantic Basin (0.99)
- (17 more...)