Reminders

Smart Oil & Gas

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In the midst of recent price volatility, consolidation of vendors and new energy supply chain, energy companies would be wise to examine the adequacy of their current Energy Trading and Risk Management (ETRM) applications. ETRM vendors have been rolling out messaging to the market, along with new products and enhancements. Added to that voice is Allegro Development. With the new investment by Vector Capital and some changes in leadership, attendees at Allegro's 2014 Customer Summit were anxious to see the latest product release and solution road maps as customers embarked on 3 days of networking and knowledge sharing in Austin, TX. There was a lot to see.


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MIT Student Energy Conference has become a Cambridge tradition. Each year for the last 8 years, students, professors from many disciplines, entrepreneurs, financiers, and vendors to the energy industry have come together to take a peek at the future in energy. Every year is exciting, and the recent energy conference was no exception.


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23rd Accenture's IUEC Speaks Chinese!

By Roberta Bigliani

Since its inception 22 years ago, the International Utilities and Energy Conference (IUEC) has become Accenture's most important conference dedicated to examining topics of global interest to senior leadership executives in the electric, natural gas, petroleum, and water industries. This year’s conference theme was global perspectives on the world’s energy agenda. The event was held in China, in Beijing.


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CFTC Dodd Frank Reporting is Here

By Jill Feblowitz

The dust has finally settled, at least in the United States, on new regulations for transparency in the commodities markets. Dodd-Frank regulations are in place and companies trading in energy commodities are affected, whether or not these companies are major swap participants (MSP) or swap dealers (SD). Trade repositories (SDRs in US) will not have ultimate responsibility for quality of the data – companies participating in the trades will.


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I was given the opportunity to attend the 18th Middle East Oil and Gas Show and Conference (MEOS 2013) two weeks ago in Bahrain. Dedicated to the theme of 'Transforming the Energy Future', the event provided an opportunity for participants from the international majors, prominent national companies, and leading service providers to identify common challenges and share thoughts on new business models and upcoming technologies.


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Macondo Revisited and the Role of IT

By Jill Feblowitz

The recent settlement with Transocean to pay $1.4 billion in fines associated with the DeepWater Horizon brings to mind again the risks associated with exploration and production - loss of life, environmental impact, and the consequent economic impact. Another recent event – a drilling barge set adrift in heavy storms in the Gulf of Alaska – ended on a better note, with Shell recovering a drilling barge after it was successfully evacuated. While the focus has been on prevention, given the nature of the industry and the uptick in extreme weather events, the industry will not be hazard free. A lot of attention has been paid to prevention, but how can information help in reducing losses and environmental impact once an incident has occurred.


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Our 2013 top 10 predictions for the worldwide oil and gas industry were presented in a webcast on December 5 and the accompanying report is now available to clients on our web site. This is a brief recap of the webcast.


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SAP Moves Upstream

By Jill Feblowitz

The Oil and Gas (O&G) applications market traditionally was big and small at the same time. Big in the sense of the magnitude of spending on applications, but small compared to the manufacturing industry which has a large number of companies. So ERP vendors have had the challenge of deciding how much O&G functionality to build out to satisfy the needs of their O&G customers, functionality that could be sold to a limited number of companies. In recent years, the number of companies in the O&G market has grown, with the rise of national oil companies and the proliferation of upstream and midstream companies focused on enhanced oil recovery and unconventional resources. ERP vendors have taken notice and made efforts to engage the industry in a dialog about solution development. This trend is demonstrated by the engagement of SAP with its oil and gas customers.


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The International Energy Agency’s recently released World Energy Outlook 2012 contained at least one headline grabbing forecast – that the United States is projected to become the largest global oil producer by around 2020, overtaking Saudi Arabia, and putting North America on a path to become a net oil exporter around 2030.



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