Reminders

Smart Oil & Gas

Archives for August 2012 « Recent Articles

Photo of Arthur MeletOffline

The world’s largest oil-producing company, Saudi Aramco, was the victim of a significant cyber attack on August 15th. The oil giant recently announced that 30,000 of its workstations had been infected by a virus. A group of hackers calling themselves the 'Cutting Sword of Justice' claimed to be responsible for the attack. They allegedly infected Saudi Aramco’s systems with replicating malicious software (malware) for political reasons.


Photo of Rick NicholsonOffline

It takes a large amount of energy to extract, treat, store, and transport water. Indeed, approximately 15-30% of a typical water utility's operations and maintenance (O&M) expenses are for energy. At the same time, a large amount of water is used in the production of energy — particularly as cooling water for power plants and for hydraulic fracturing or "fracking" in the development of shale gas and tight oil. If certain predictions regarding recycling of fracking water come true this could become the ultimate example of the energy-water nexus.


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The oil & gas industry has continued to increase its capital spending over the past 2–3 years, creating an even greater need for improved processes and technologies to manage large capital projects. This increased capital spending has been driven by sustained high oil prices and the need to pursue
unconventional resources like shale gas, tight oil, and oil sands as well as deep water offshore projects. However, the industry continues to struggle with the management of large capital projects, with overruns in budgets and schedules common. These projects are so large and require so much capital that they can directly create or destroy shareholder value.


Photo of Arthur MeletOffline

National oil companies (NOCs like Saudi Aramco, Sonatrach in Algeria, and NNPC in Nigeria) currently hold nearly 88% of the world oil reserves, compared to a mere 15% in the early 1960s. Due to their increased control over global reserves, government-owned oil companies have recently gained significant importance in the energy business.



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