Do you work in the oil and gas industry? Want to protect your assets better? Could you develop your income streams faster? Join our Oil Gas Industry Risks Forum.
What are the key issues in oil and gas industry? What are the most demanding types of risk in oil and gas industry? What opportunities lie before your oil and gas business? Rapid global change presents both a threat and an opportunity to grow faster. At almost the flip of a coin, you can see oil and gas consumption spiking or falling off a cliff. Are you prepared for the uncertainties and business risks facing you :
- Rapid oil and gas price fluctuations
- Geopolitical and economic risk factors
- Operational hazards including safety and environmental risks
- Natural disasters and extreme weather events
- Competition within types of oil and gas production as well as external market competition from other types of energy production
- Inadequate assets or assets in wrong place
- Regulatory compliance
- Manipulation of oil and gas marketplace
- Increased costs of oil and gas exploration
- Health of global economy – expansion or contraction in demand for oil and gas
What risks are on the horizon for the oil and gas industry? Join in the discussion. Promote your business interests in the oil and gas industry products or services.
Oil and Gas Industry Risk Management
The oil price recover at the back end of 2016 will continue and get stronger in 2017 as the cut back in investment feeds into higher prices. Longer-term is always wrapped in uncertainty and risk for the oil industry. The world’s population continues to grow and this brings with it an amount of certainty that sooner or later oil and gas prices will rise, as demand will eventually catch up with supply. Which means that the oil and industry grow for many decades yet and then morph into other forms of energy production.
Oil and Gas Industry Risk Factors Overview News Headlines, Business Opinions, Risk Analysis
Read more about the current issues in oil and gas industry.
3rd June 2018 Kenya To Export Oil Via Mombassa
Kenya will export oil via Mombasa. Kenya will pump oil from its reserves in its Lokichar oil reserves 500 miles via a pipeline.
Oil output from this source will reach full capacity by 2022. Initially oil will be transported by road. The pipeline will cost more than 1 billion dollars to build.
Lokichar has around 600 million barrels of oil to the benefit of all of Kenya.
31st May 2018 – Shell and Gulf of Mexico
Royal Dutch Shell has started oil production at the Kaikias oil field in the Gulf Of Mexico one year ahead of schedule. Oil output is expected to reach 40000 barrels per day.
18th April 2018 – Iran Switches To Euro and Bins USA Dollar
Irans official reporting currency will be the euro in future. Iranian government institutions will start reporting foreign currency amounts in euros rather than USA dollars. This is to reduce Irans reliance on American currency.
9th March 2018 – Royal Dutch Shell To Focus On USA Shale Oil Production
Developing revenue from natural gas and oil exploration will become the poorer relative in Shell’s corporate strategy. Instead Shell is increasing investment in USA shale oil production.
— Risk Management (@HolisticRiskMgt) March 8, 2018
6th March 2018 – Exxon Mobile and Algeria
According to head of Algerian state-owned firm Sonatrach, Exxon Mobile have shown an interest in working in Algeria.
— Risk Manager (@ERMuk) February 20, 2018
— Risk Management (@HolisticRiskMgt) February 20, 2018
— Risk Management (@HolisticRiskMgt) February 16, 2018
9th February 2018 – USA Continues To Disrupt Oil Gas Marketplace
America’s self-imposed ban on oil gas exports was changed in 2016. Since then USA oil and gas producers have been stealing market share from OPEC and Russia, largely based on lower pricing of oil gas products.
Despite apparent political conflict neither China nor USA have been letting their pride get in the way of a good deal. China is getting cheaper oil and gas. USA is making billions of dollars out of a new oil and gas market that this China.
USA is forecast to export 11 billion barrels of oil per day to China. The main reason America can’t export more than this, is because American ports can’t accommodate the biggest oil delivery ships, though this is changing in the Gulf of Mexico. When upgrades are complete, America will export even more oil to China and the rest of the world, taking over number one oil producer status.
To go from zero exports to China from USA in the such a short space of time should be good for political relations too. It helps to rebalance trading between the two countries. America is making billions more from China and China is saving a packet by buying oil and gas from America instead of OPEC or Russia.
31st January 2018 – Shell Makes Deepwater Oil Discovery Gulf Of Mexico
Royal Dutch Shell said it has made one of its biggest oil discoveries in the last decade in the Whale deepwater well in the USA Gulf of Mexico. Whale is co-owned with Chevron Corp.
22nd January 2018 – Oil Prices Rise Again
Oil prices continued their upward trend after comments from Saudi Arabia that cooperation between oil producers to restrict oil supply will continue beyond 2018. Saudi Arabia exports more oil than any other country and is the driver of oil pricing from OPEC countries and Russia.
In addition, there are strong signs that strong global growth will develop in 2018.
18th January 2018 – Iraq To Boost Oil Production From Kirkuk With BP
According to reports from Reuters Iraq has plans to sign a deal with BP to boost oil production capacity from Kirkuk oil fields. BP will work in partnership with Iraq’s North Oil Company which operates the oil fields.
The oil deal is aimed at producing twice as much oil to 700,000 barrels per day.
Iraq plans to truck crude oil from the northern oil fields to Iran at the end of January.
Kirkuk is one of the biggest oilfields in the Middle East, estimated to have 9 billion barrels of recoverable oil according to BP.
Oil and Gas Industry Jobs and Career Advice Tips Support
Find oil gas industry job vacancies. Boost your career in the oil and gas industry.
Post your oil gas industry job vacancies to fill jobs faster quicker and cheaper.
Easily keep across the latest oil and gas industry news opinions and economic and business reviews.
BusinessRiskTV.com Oil and Gas Industry Risk Management
Subscribe to oil and gas news opinions and risk overview for free. By submitting form below you agree to submit your info to BusinessRiskTV.com and its business partners, who will contact you about oil and gas industry news views and reviews.
Oil Gas Industry Enterprise Risk Management ERM Training
Manage business enterprise risks better in the oil and gas industry to achieve enterprise objectives more easily, with less uncertainty and more confidence.
Identify threats and opportunities to your business. Assess the impact of threats and find out how to exploit business opportunities more. Learn how to control corporate risks within your risk tolerance and appetite for risk to boost your business performance.
Find a better way to deal with the complexities of enterprise-wide risk management ERM. Sign-up for one of our online enterprise risk management ERM workshops or book an inclassroom workshop.
- Develop ERM risk knowledge and skills required for you and your business in the oil and gas industry.
- Revise your enterprise risk management ERM framework and risk assessment process.
- Build a new better risk-based approach to your strategic, operational and project risks.
Use our enterprise risk management distance learning training or book an inhouse workshop.