Top 15 Oilpro Videos Of 2014

1. Huge Explosion At Saudi Aramco Refinery

The news of the explosion of an oil pipeline belonging to Saudi Aramco near Sudair caused an immediate $2 spike in WTI crude oil prices as traders knee-jerk reacted to the news.

2. $10 Crude? Wall Street Pundit Claims “Crude Oil The New Whale Oil”

On CNBC, Dennis Gartman stated that crude oil is set to go “the way of whale oil,” which went obsolete when crude came on the scene in the early-20th century.

http://player.theplatform.com/p/gZWlPC/cnbc_global?byGuid=3000324916&size=530_298

3. Watch This Huge Wave Hit North Sea Rig

Here is a short video that shows the dangers of working offshore in unpredictable, and often violent, weather. These huge waves hit the Dunbar in the North Sea.

4. Seeing Is Believing: Fracing Process From Start To Finish

Marathon Oil produced this video detailing the fracing process from start to finish.

5. Deepwater Drilling In Under 8 Minutes

This video on deepwater drilling is short, to the point, and comprehensive.

6. Oceaneering ROV Records Sea Monster In Deepwater

Oceaneering ROV cameras appear to have recorded a massive sea creature moving around riser in deepwater. The video looks to have been recorded in 2012, but the clip below was posted on Youtube about one week ago. Hoax or real?

7. Hear HAL CEO Talk Deal, Jobs & Oil Prices In 1st TV Interview Since Baker Purchase

Halliburton CEO Dave Lesar was interviewed by CNBC’s Squawk on the Street crew – one of his first public speaking engagements since the deal between Halliburton and Baker Hughes became official.

8. It’s Hurricane Season: Watch This Oil Rig In A Tropical Storm

This is a video from an offshore rig in the Gulf of Mexico during Tropical Storm Hanna (which later became Hurricane Hanna) in 2008. Hurricane season poses many risks for offshore workers who bravely weather the storms year after year.

9. Meet The New BOSS- Tour The Latest Pad Drilling Rig

Unit Drilling Company has a new, high-tech rig known as the BOSS. The new drilling gear is known as a BOSS rig, which is short for a box-on-box self-stacking rig.

10. How Low Can You Go? Oil Well Downhole Camera

A very interesting video, detailing what drillers can see, identify and diagnose using a downhole camera.

11. Watching A Dreamliner Fly Like A Stunt Plane Sparks A Look At Airline Oil Usage

The rare sight of a Dreamliner behaving like a stunt plane got me thinking about the fact that the airline industry is one of the biggest consumers of the product our industry creates and made me wonder exactly how much of our product is used to power the aviation industry.

12. Understand The Ukraine Crisis In 5 Minutes

This short video is very helpful in understanding the ongoing crisis in Ukraine. Although released prior to the mobilization of Putin’s Russian military in the Crimea, it’s very helpful in giving a historical context to the current conflict.

13. When Anchovies Are Mistaken For Oil Slicks

Have you ever seen a desert mirage? Well take a look at this video of what one person thought was a massive oil slick near Scripps Pier off La Jolla, California (in San Diego county).

14. This State Has More Oil Than Saudi Arabia, & Other Facts You Might Not Know

This Inno-Versity Inno-Mation was adapted from Stephen Moore’s talk on America’s Energy Boom: How It Will Save U.S. Manufacturing and Recharge The U.S. Economy. Some unknown or forgotten fascinating facts about the US energy renaissance here.

15. Crane Operator Prevents OSV From Capsizing

In this video, an OSV offshore Brazil is heavily listing to its port side and almost capsizes. An offshore crane operator may have saved the day by acting quickly to pick off some of the shifting cargo.

The original source for this post can be found here.

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The five issues worrying oil executives in the North Sea

On the 50th anniversary of the issuing of the first licenses for the extraction of oil and gas from the UK continental shelf (UKCS), we asked oil executives what their main concerns were in an increasingly challenging period in the sector’s turbulent history.The consensus was that the industry needs to learn to collaborate if it is to survive these challenges.

Issue 1: Operating expenditure is going up while production forecasts are going down

Production from assets fell by 38 per cent between 2010 and 2013, equating to a drop of around 500 million barrels of oil equivalent (boe) and a drop in tax receipts of approximately £6 billion.In exploration, just 15 wells were drilled on the UKCS last year, compared to 44 in 2008, while operating expenditure rose to a record level of £8.9 billion, and is expected to increase further to about £9.6 billion this year. But there are reasons for optimism: while approximately 42 billion boe have been produced from the UKCS to date, it is estimated that a further 24 billion boe could remain.

Energy Inforgraphic - operating-expenditure-is-going-up-while-production-forecasts-are-going-down

Issue 2: The contracting model is failing from the cost base perspective

Attendees at an executive briefing noted that the supply chain had received little mention in the Wood Review. Significant sums were being spent on ‘low value-high volume’ work, leading the executives to consider the question: is there a genuine appetite within the industry to look at a transitional approach to costs in terms of fixed price agreements? One executive commented “We’re not talking about the 2009 solution of going in and saying rates have gone down by 10%. That’s not going to work. We have got to see cleverer business models. That may include more remote location working not just in Manchester … but going much further, to India or China for example, to try and get services from there.”

Issue 3: The industry is not planning for decommissioning

Oil executives in the North Sea recognise that the industry needs to plan more effectively now for end of life assets, or face potentially catastrophic consequences down the line. “The industry is not planning for decommissioning, we are just hoping (an incident) won’t happen, then when something does we will cope with the crisis and everybody will jump into action. But nobody is willing to take that first step,” the head of one company said. It has been suggested that decommissioning costs should be included in the design stage to offset their impact.

Issue 4: A new regulator will not change anything

While the Wood Review’s approach to regulation is welcomed, many executives are questioning what we can expect to be different this time around.  “Why should we expect a new nirvana with the Regulator?” asked one operator, while others expressed doubt as to whether the Regulator would be able to push back against future treasury demands.

Issue 5: The industry is facing a knowledge shortage, not a skills shortage

While much has been made about the shortage of skilled people in the oil and gas industry, not enough is made of the importance of knowledge transfer, which requires greater collaboration within the industry.  “Working on a brownfield site can give you the ability to learn the skills to work on a greenfield site, but you need to have gained that experience beforehand to make that change,” said one director. All these issues require collaboration in an industry in which, as one operator said, “competition is bred into you”. These concerns are just some of the key points raised at an executive briefing we held with executives from across the industry.

The original source for this post can be found here.