Posts Tagged ‘oil and gas’
Should Singapore banks prepare for another O&G nightmare?
The indebted crude oil supplier owes the three Singapore banks a combined US$172.1m. The liquidation process undertaken by crude oil supplier Coastal Oil Singapore is unlikely to result in the previous oil and gas (O&G) downturn that pushed up the banking sector’s bad debt and credit costs although lenders are likely to take a one-off hit, according […]
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Read MoreLNG Trends to Watch in 2019
Looking ahead to the next 12 months, Wood Mackenzie foresees a mixed mood in the global liquefied natural gas (LNG) market. In an emailed statement to Rigzone, the consultancy observed that the LNG market in 2019 will feature a return of “big LNG buyers” and “a record year for supply” based on growth in production […]
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Read MoreNorth Sea Exploration is Back
North Sea exploration is back in 2019, according to Wood Mackenzie (WoodMac). Across the UK, Norway, Netherlands and Denmark North Sea, WoodMac expects more than 60 exploration wells to spud this year, up 25 percent on 2018. Budgets are bigger and company portfolios are “brimming with prospects matured through the downturn,” according to WoodMac, which […]
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Read MoreDigital Investment Set to Surge for Oil and Gas
Global oil and gas executives are preparing to accelerate their investment in digital technologies, according to a new report from EY. The report, titled ‘New technology can lead the way, but do you know where you’re headed?’, found that 89 percent of executives surveyed expect to step up their investment in digital over the next […]
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Read MoreBilling Fraud and How to Spot them
Estimated reading time: 3 minutes Combating procurement fraud is vital due to the disastrous impacts’ procurement fraud brings. In Southeast Asia, procurement fraud costs US$140billion each year. Nearly all…
Read MoreUnderstanding Commissioning of Offshore Oil and Gas Projects
Estimated reading time: 3 minutes Project commissioning is the process of assuring that all systems, components and processes of an industrial plant are according to the operational requirements of the…
Read MoreUnderstanding A Contractor’s Capabilities and Readiness to Perform
Estimated reading time: 3 minutes Refineries, petrochemical plants and power plants are all major investments. Ongoing care and maintenance of the assets can involve up to 50% of the…
Read MoreManaging Human Failures for Human Factors Engineering
Estimated reading time: 5 minutes Everyone can make errors no matter how well trained and motivated they are. However, in the workplace, the consequences of such human failure can…
Read MoreApplication of EPC contracts in the Global Power Industry
Estimated reading time: 2 minutes The private sector is learning more towards more Engineering, Procurement and Construction (EPC) contracts when taking on large scale infrastructure projects. In every project,…
Read MoreFactors Affecting the Performance of a Centrifugal Pump
Centrifugal pumps are usually used in the Oil and Gas industry to mix and handle oilfield fluids. The rotary motion combined with a shaped pump housing creates centrifugal force…
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