January 2019 UPDATE

UPCOMING EVENTS

Gullkronen Awards
February 06, 2019
Oslo, Norway
For more information,
please click here

Information Session Perth
February 19, 2019
Perth, Australia
For more information,
please click here

Information Session London
February 25, 2019
London, United Kingdom
For more information,
please click here

Information Session Tokyo
February 26, 2019
Tokyo, Japan
For more information,
please click here

Offshore Strategy Conference
February 04-05, 2019
Stavanger, Norway
For more information,
please click here

Riviera Offshore Conference
February 06, 2019
London, United Kingdom
For more information,
please click here

NAPE Summit 2019
February 14, 2019
Houston, United States
For more information,
please click here

5th Annual FPSO Europe Congress 2019
February 19-20, 2019
London, United Kingdom
For more information,
please click here

International Petroleum Week
February 26-28, 2019
London, United Kingdom
For more information,
please click here

Offshore Pipeline Technology Conference
February 27-28, 2019
Amsterdam, The Netherlands
For more information,
please click here


UPCOMING
WEBINARS

Rystad Energy Upstream Webinar
Content webinar
February 19, 2019

Learn more & Register

 

Rystad Energy Shale Webinar
Content webinar
February 21, 2019

Learn more & Register

 

Rystad Energy Oilfield Service Webinar
Content webinar
February 27, 2019

Learn more & Register

 

LAST BUT NOT LEAST

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INDUSTRY VIEW

"Glengorm, largest discovery in a decade in UK North Sea, will likely be an industry hotspot for years"
The oil and gas world is abuzz with news of a major gas find in the UK as operator CNOOC and partner Total unveiled the largest discovery in British waters since 2008.
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"US sanctions on Venezuela will be weaker than expected"
Rystad Energy analyst Paola Rodriguez-Masiu comments on the sanctions announced yesterday by the US against Venezuelan state oil company PDVSA: “The sanctions will deal a meaningful blow to the Maduro administration’s cashflow, but the effects will not be as harsh as the United States expects. Administration officials reportedly said the sanctions would result in more than $11 billion in export losses for Venezuela over the next year, but I believe this figure will be substantially lower.”
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"Global LNG production expected to be up 11% YoY 2019/18"
Global LNG production is one element to watch in 2019. As shown in the figure the global liquefaction capacity is expected to increase from 396 Mt in 2018 to 434 Mt in 2019. Most of the new capacity will be added by the commissioning of US projects.
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"South East Asia on the cusp of a solar boom in 2019"
The Southeast Asian renewable energy sector is expected to see installed capacity triple in 2019, according to Rystad Energy’s annual outlook report, as Vietnam’s energy transition kicks into high gear.
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"US sanctions on Venezuela would hurt US Gulf Coast refiners"
Sanctions against Venezuelan crude oil exports would represent a blow to US refiners on the Gulf Coast, according to Rystad Energy. “Venezuela is very important for oil markets, not so much the sheer volumes but rather for the quality of their crude. Sanctions would make US Gulf coast refiners the biggest loser,” said Rystad Energy analyst Paola Rodriguez-Masiu.
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"US oil to eclipse Russia and Saudi Arabia combined by 2025"
In a major shift, the United States is set to produce more oil and liquids than Russia and Saudi Arabia combined by 2025. In Rystad Energy’s base case oil price scenario, US liquids production is forecast to surpass 24 million barrels per day over the next six years, thereby outpacing the combined output from Russia and Saudi Arabia.
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"Frac water demand is sky-rocketing"
As oil production in the US shale industry soars to record levels, so does the need for water.
New research from Rystad Energy shows that demand for so-called frac water has more than doubled from 2016 levels. Current demand in the Permian, the prolific shale basin located in western Texas and southeastern New Mexico, now exceeds the total US demand of 2016.
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"Middle East greenfield investment surge seen in 2019 to meet gas demand"
The global oil and gas industry’s investments in new projects are set to double in 2019, with Qatar, the UAE and Saudi Arabia fueling growth.
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"Global gas supply achieved highest growth in a decade in 2018"
Global gas production grew at a record clip in 2018, driven by North America, according to research by Rystad Energy.
The industry achieved a net production increase of 164 billion cubic metres (bcm), which represents the highest production growth since 2010.

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"Vietnam: 2GW of solar projects to be commissioned in 2019"
2018 saw only two large-scale solar projects commissioned in Vietnam: Krong Pa - 49 MW and Duc Hue 1 - 35 MW.
Due to the current FiT Commercial Operation Date we expect a rush of construction and commissioning to happen for solar developments in Vietnam with 40 projects of total 2GW capacity coming to life. That is roughly $2 billions USD spent on building solar farms in just 2 years. Investors and developers will be eagerly waiting for the policy update after FiT.

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"Offshore service market growth to outpace shale in 2019"
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector are set to benefit from this trend reversal.
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"Haynesville Shale set to surpass historical gas output record from 2011"
Gas production in the state of Louisiana in the southern US will soon reach record heights thanks to an outstanding resurgence of the Haynesville shale play.
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"Potential takeover of US-listed QEP Resources"
Following the announcement of a $2 billion takeover offer for US oil driller QEP Resources by US hedge fund Elliott Management Corp, Rystad Energy partner Artem Abramov said: “As Elliott outlined, this could end up as an excellent deal for both the buyer and the seller.”
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"Frack jobs peaked in May/June"
Shale fracking activity in the US likely dropped to 44 jobs per day in November 2018, Rystad Energy’s analysis of preliminary data suggests.
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"Rising activity levels in Norway provide silver lining to output decline"
Norway’s oil and gas industry had a disappointing production year in 2018, having fallen short of forecasts, but can find comfort in the positive trends seen in exploration and field sanctioning.
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"To sanction, or not to sanction - that is the offshore question"
While Hamlet’s famous ‘to be or not to be’ questioned the existential, E&P’s will look to answer more concrete questions this year when evaluating projects for sanctioning.
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"When will we really need post-2019 Permian pipelines in a $50 world?"
As a result of the slide in oil prices over the past three months, operators have already started to guide down activity for 2019 compared to their initial plans to ramp up activity.
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"APAC starting 2019 in a blistering pace"
2019 is shaping up to be another red hot year for APAC Renewables. Australia's pipeline continues to grow at a rapid pace at the front end, whilst construction and commissioning continues on over 6 GW of solar and wind projects.
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