[April 1-13, 2020] ON THE NEWS

/, Technical/[April 1-13, 2020] ON THE NEWS

[April 1-13, 2020] ON THE NEWS

[April 1-13, 2020] Recommended Articles

Howdy!

Following are brief list of articles from beginning of April. All Texas A&M University students should have access to this articles. Feel free to let me know if you have any questions or concerns. I hope these are helpful. Stay safe and healthy, all!

Companies and World Response to COVID-19 and Oil Price War:

>> MUST READ: Oil and Gas in the Perfect Storm

source: https://pubs.spe.org/en/ogf/ogf-article-detail/?art=6821

Keywords: Russia- Saudi Oil Price War, OPEC oil production cut, over saturated market, recession vs. reconciliation vs. rebound

>>Reevaluation of supply chain and procurement strategies

source: https://pubs.spe.org/en/jpt/jpt-article-detail/?art=6859

Keywords: supply chain disruptions, risk intelligence, supply chain mapping, costumized procurement strategies, decentralization of global supply chain

>> ExxonMobil and Halliburton

source: https://pubs.spe.org/en/jpt/jpt-article-detail/?art=6855

Keywords: executive salary reductions, personnel, cuts, and furlough; reduce 2020 capital spending, reevaluate, and operating expenses; maximize cost efficiency

>> Baker Hughes

source: https://pubs.spe.org/en/jpt/jpt-article-detail/?art=6875

Keywords: Restructuring (job cuts); reduce capital expenditures; total equity reduction

>> Schlumberger

source: https://pubs.spe.org/en/ogf/ogf-article-detail/?art=6797

Keywords: Voluntary reduction of salary and job cuts, global supply chain and logistics disruptions, reduce capital spending

Renewables Shift:

>> Equinox

source: https://pubs.spe.org/en/hsenow/hse-now-article-page/?art=6830

Brief summary:

    1. Exit the Independent Petroleum Association of America (IPAA)

    2. Reduce organic capital expenditures for 2020 by 20%

    3. Reduce exploration activity by $400M and operation costs by $700M

    4. 2050 – Reduce net carbon intensity of energy produced (from production to consumption) by at least 50% by 2050

    5. 2030 – Aim to attain carbon-neutral global operations

    6. 2026 – Become a global offshore wind major with aim of growing renewable capacity by tenfold

Related article: https://pubs.spe.org/en/ogf/ogf-article-detail/?art=6866

>> BP

source: https://pubs.spe.org/en/hsenow/hse-now-article-page/?art=6676

Summary:

    1. Exit American Fuel and Petrochemical Manufacturers (AFPM) and Western States Petroleum Association (WSPA) due to different view on carbon pricing and Western Energy Alliance (WEA) due to differing view on methane emission federal regulation

    2. 2050 – Projected deadline of shrinking carbon footprint to net zero

    3. BP identify these to be partially aligned with climate crisis: American Petroleum Institute (API), Australian Institute of Petroleum, Canadian Association of Petroleum Producers, National Association of Manufacturers, and US Chamber of Commerce

>> Past SPE Presidents on Decarbonation

source: https://pubs.spe.org/en/hsenow/hse-now-article-page/?art=6863

    1. Nathan Meehan (2016 SPE President) – Blue and Green Hydrogen as source of new energy

    2. Darcy Spady (2018 SPE President) – Methane Emission and other detrimental emissions mitigation

>> Other Related Articles:

Energy transition: https://pubs.spe.org/en/hsenow/hse-now-article-page/?art=6730

Sustainable Power for North Sea Projects: https://pubs.spe.org/en/ogf/ogf-article-detail/?art=6611

ExxonMobil

  1. Carbon capture project in Wyoming: https://pubs.spe.org/en/hsenow/hse-now-article-page/?art=6570

  2. Texas Windfarm Project: https://www.environmentalleader.com/2020/04/sage-draw-wind-farm-online/

Schlumberger: https://pubs.spe.org/en/hsenow/hse-now-article-page/?art=6570

2020-07-19T20:54:21+00:00

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