wellheads

Report from West Texas oil country between Odessa and Midland, Texas: Found words: Drilling, energy, fracturing, pioneer, petroleum basin, resource, diesel, convoy, Midland, torque, stay back 200 feet, pumping, cranes, fuel, wells, swift, ice, technologies, construction zone, chemplex, tools, wellhead, roustabout, pulling unit, refinery, Oil! TEXAS.

Tanzanian Government gives go ahead to Aminex for sale of Kiliwani North Development Licence

Tanzanian Government gives go ahead to Aminex for sale of Kiliwani North Development Licence

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Aminex has notified shareholders that it has received confirmation from the Tanzanian Ministry of Energy and Minerals that the Minister has no objection to the proposed transfer of assignment for the sale to Solo of up to 13% of in the Kiliwani North Development Licence (‘KNDL’)
in Tanzania for a total consideration of $7 million.

The sale now remains subject only to a…

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Special Report: Depleted oil field is window into China’s corruption crackdown

The latest from Reuters World News! LIMAU, Indonesia (Reuters) – In a muddy clearing in southern Sumatra, a portable diesel power plant hammers away alongside a wellhead, struggling to extract crude from a depleted reservoir that lies below farmland and rubber plantations.



Reuters: World News http://ift.tt/1sEKkhF

http://ift.tt/1C5fmrI
Special Report: Depleted oil field is window into China's corruption crackdown

LIMAU, Indonesia (Reuters) - In a muddy clearing in southern Sumatra, a portable diesel power plant hammers away alongside a wellhead, struggling to extract crude from a depleted reservoir that lies below farmland and rubber plantations.



http://dlvr.it/7sPsh6
Special Report: Depleted oil field is window into China's corruption crackdown

LIMAU, Indonesia (Reuters) - In a muddy clearing in southern Sumatra, a portable diesel power plant hammers away alongside a wellhead, struggling to extract crude from a depleted reservoir that lies below farmland and rubber plantations.








The "Unequivocally 'Not' Good" Reality Of Lower Oil Prices & Jobs

By : Zero Hedge Published on : 12/18/2014 4:37:19 PM


Via ConvergEx’s Nick Colas,

The drop in oil prices is certain to cause some incremental unemployment in the U.S. energy industry; the question is simply how much and what that means for the American economy as a whole.

To begin the search for answer, you have to go to the wellhead and consider how many individuals work in American oilfields, as well as those workers that directly support those activities. The answer here, courtesy of the Bureau of Labor Statistics, is 812,000 as of March 2014 (the most current data available). That may not sound like a lot, but at average annual wages of $99,854/worker, this small group receives $81 billion in estimated annual compensation. How bad can things get if oil prices stay low?

We actually have a recent case study in the 2008 experience, the last great crash in oil prices. The answer is a 20per headcount reduction from October 2008 to January 2010. The great wildcard for U.S. GDP is the Multiplier effect of these jobs. The damage could be slight (at 3x just 0.3per of GDP) or large (at 10x, a full 1per cut in 2015).

Offsetting benefits will have to surmount that hurdle to make themselves useful.

You may not know the author Robert E. Howard, but you have certainly heard of his most famous character: Conan the Barbarian. The original stories predate the famous movies of the 1980s by several decades, first published in a pulp fiction magazine called Weird Tales in 1932. If you enjoy Game of Thrones or any sword-and-sorcery drama, you have Conan to thank, for Howard essentially created the genre and gave it its first hero.

As for the inspiration for the Conan character, a muscular loner with serious fighting skills, it helps to remember that Howard grew up central Texas in the early 1900s. His hometown of Cross Plains saw its share of the 1920s oil boom. In watching the men that worked these early finds he found the inspiration for the tough and independent Conan. Howards famous barbarian is really just a Texas roustabout with a loincloth and a sword.

Fast forward to today, and the fate of Conans progenitors is of great interest in economic circles. The drop in oil prices from $106 in June to yesterdays $56 close cannot, after all, be good for employment in the oil fields of Texas, North Dakota or Colorado. Yes, we all know commodity prices swing around like a weathervane in a hurricane, but this drop seems different. It does not come with a financial crisis like 2008 or on the heels of Fed-designed recessions in the late 1970s/early 1980s. Rather, it seems to start in the OPEC meeting room and emanate outwards towards the oilfields of Russia and American northern Midwest. So what will the harvest be if crude oils price drop lingers into 2015 and beyond?

To answer that question we started with industry data from the Bureau of Labor Statistics for employment and wages…

Heres a summary of what these charts show:

We are focusing for now on Direct employment at or near the wellhead where the product comes out of the ground. The categories we chose were employment related to: Oil and Gas Extraction, Support Activities for Oil and Gas Operations, Oil and Gas Pipeline Construction, Oil and Gas Field Machinery and Equipment, and Drilling Oil and Gas wells.

The total current employment for these 5 classifications is 811,552 as of March 2014 (lastest data available). This represents 0.52per of the current civilian workforce. The largest segment is Support Activities at 38per of the total, followed by Extraction at 24per and Pipeline Construction at 16per.

At just over half a percent of the workforce, this may not seem like a lot of people but they are paid exceedingly well. The average annual income here is $99,854 according to the BLS data, up from $64,642/year at the beginning of 2003 (the first year of this data series). That is a 54per increase in the last 11 years during a time when national household incomes remained largely flat.

Since 2001, the first year of the employment data, the oilfield employment levels relative to the civilian workforce have risen steadily, starting at 0.29per and climbing to just over 0.40per in 2008. From there they decline along with oil prices as the Great Recession pushed crude prices down from $140 to the low $30s. Then, starting in January 2010 they began to climb again as commodity prices recovered. The takeaway: yes, employment in the oil fields correlates directly with oil prices. In percentage terms, employment here dropped by 20per in a little over a year before it bottomed with crude prices in the 2008-2010 downcycle.

With that data in hand, we can begin to consider what will happen to oilfield employment if oil prices do not begin to snap back in 2015. A few thoughts:

If employment levels track the 2008-2010 experience, we can expect a 20per decline in employment. That amounts to 162,400 jobs based on current employment. How quickly they come off the rolls is another issue. The largest losses during the last recession came in month 3 and month 6 after the peak.

Remember that these are high-paying jobs on average, so that 162,400 job loss will feel more like +300,000 to the real economy. Assuming that average annual pay of $99,854 we mentioned earlier, this would take $16.2 billion out of the U.S. economy or 0.1per of GDP in 2015.

The job losses could be greater or less harmful depending on how employers see the recent price drop for crude. There is also the issue of break-even levels to consider. No one seems to have a good handle on actual break-evens for domestic oil production, so this is the Known unknown in the calculus.

Then there is the subject of economic multipliers how many other jobs do these oilfield and related jobs actually support? Take the home office of a medium sized exploration and production company, for example: how many layoffs will occur there as prices drop? Then there is all the economic infrastructure around the fields themselves homebuilders, service industry staff, car dealerships, etcetera. How will those sectors respond to a deteriorating local economy? Three quick thoughts on this:

Since consumption is the first variable in the classic equation for Gross Domestic Product, we are assuming that reduced personal income has a direct effect on national output. We are ignoring potential positives to lower oil prices, such as increased consumer spending in other areas from the money saved at the pump. That benefit would have to come in the form of higher multipliers than the ones we consider here that are related to the energy sector and its economic adjacencies. A dollar spent on gasoline looks just like a dollar spent at the local organic food market, until you chase it upstream and see what else it touches.

At the lower end, consider a 3x multiplier on the 0.1per of GDP we calculated previously. That would amount to 0.3per in 2015. Whats the magic behind that number? Simply that it is a common starting point for the economic multiplier related to a high wage job. It is, for example, the most common assumption used by auto industry economists a sector I used to follow quite actively to translate a lost assembly plant job in terms of its effect on a local economy.

At the higher end, try a 10x multiplier. The math behind this comes from the energy industry itself, which estimates total direct employment at 9.8 million (see http://www.energytomorrow.org/economy ) , or just over 10x our oilfield/related employment number. That doesnt even include the impact on local economies, but it is a decent starting point. By that multiple, a loss of $16 billion in income at the oil field would amp up to $160 billion, or 1per of GDP.

If you are a glass half empty kind of person, you simply need to believe that the economic benefits of lower energy prices will outrace the math we present here. Can we get more than 0.3-1.0per GDP growth from the tailwinds of lower oil prices in 2015? If the answer is yes, then these are surmountable hurdles.

And if, like Conan, you tend towards darker thoughts, then the math we present here is just the tip of the iceberg. Or the sword…








The "Unequivocally 'Not' Good" Reality Of Lower Oil Prices & Jobs

Via ConvergEx’s Nick Colas,

The drop in oil prices is certain to cause some incremental unemployment in the U.S. energy industry; the question is simply how much and what that means for the American economy as a whole.

To begin the search for answer, you have to go to the wellhead and consider how many individuals work in American oilfields, as well as those workers that directly support those activities.  The answer here, courtesy of the Bureau of Labor Statistics, is 812,000 as of March 2014 (the most current data available).   That may not sound like a lot, but at average annual wages of $99,854/worker, this small group receives $81 billion in estimated annual compensation.  How bad can things get if oil prices stay low?

We actually have a recent case study in the 2008 experience, the last great crash in oil prices.  The answer is a 20% headcount reduction from October 2008 to January 2010.  The great wildcard for U.S. GDP is the “Multiplier” effect of these jobs.  The damage could be slight (at 3x just 0.3% of GDP) or large (at 10x, a full 1% cut in 2015).

Offsetting benefits will have to surmount that hurdle to make themselves useful.

You may not know the author Robert E. Howard, but you have certainly heard of his most famous character: Conan the Barbarian.  The original stories predate the famous movies of the 1980s by several decades, first published in a pulp fiction magazine called “Weird Tales” in 1932.  If you enjoy “Game of Thrones” or any sword-and-sorcery drama, you have Conan to thank, for Howard essentially created the genre and gave it its first hero.

As for the inspiration for the Conan character, a muscular loner with serious fighting skills, it helps to remember that Howard grew up central Texas in the early 1900s.  His hometown of Cross Plains saw its share of the 1920s oil boom. In watching the men that worked these early finds he found the inspiration for the tough and independent Conan.  Howard’s famous barbarian is really just a Texas roustabout with a loincloth and a sword.

Fast forward to today, and the fate of Conan’s progenitors is of great interest in economic circles.  The drop in oil prices from $106 in June to yesterday’s $56 close cannot, after all, be good for employment in the oil fields of Texas, North Dakota or Colorado.  Yes, we all know commodity prices swing around like a weathervane in a hurricane, but this drop seems different.  It does not come with a financial crisis like 2008 or on the heels of Fed-designed recessions in the late 1970s/early 1980s.  Rather, it seems to start in the OPEC meeting room and emanate outwards towards the oilfields of Russia and American northern Midwest.  So what will the harvest be if crude oil’s price drop lingers into 2015 and beyond?

To answer that question we started with industry data from the Bureau of Labor Statistics for employment and wages…

Here’s a summary of what these charts show:

We are focusing for now on “Direct” employment at or near the wellhead – where the product comes out of the ground.  The categories we chose were employment related to: Oil and Gas Extraction, Support Activities for Oil and Gas Operations, Oil and Gas Pipeline Construction, Oil and Gas Field Machinery and Equipment, and Drilling Oil and Gas wells. 

The total current employment for these 5 classifications is 811,552 as of March 2014 (lastest data available).  This represents 0.52% of the current civilian workforce.  The largest segment is “Support Activities” at 38% of the total, followed by “Extraction” at 24% and “Pipeline Construction” at 16%.

At just over half a percent of the workforce, this may not seem like a lot of people but they are paid exceedingly well.  The average annual income here is $99,854 according to the BLS data, up from $64,642/year at the beginning of 2003 (the first year of this data series).  That is a 54% increase in the last 11 years during a time when national household incomes remained largely flat.

Since 2001, the first year of the employment data, the oilfield employment levels relative to the civilian workforce have risen steadily, starting at 0.29% and climbing to just over 0.40% in 2008.  From there they decline along with oil prices as the Great Recession pushed crude prices down from $140 to the low $30s.  Then, starting in January 2010 they began to climb again as commodity prices recovered.  The takeaway: yes, employment in the oil fields correlates directly with oil prices.  In percentage terms, employment here dropped by 20% in a little over a year before it bottomed with crude prices in the 2008-2010 downcycle.

With that data in hand, we can begin to consider what will happen to oilfield employment if oil prices do not begin to snap back in 2015.  A few thoughts:

If employment levels track the 2008-2010 experience, we can expect a 20% decline in employment.  That amounts to 162,400 jobs based on current employment.  How quickly they come off the rolls is another issue.  The largest losses during the last recession came in month 3 and month 6 after the peak.

Remember that these are high-paying jobs on average, so that 162,400 job loss will feel more like +300,000 to the real economy.  Assuming that average annual pay of $99,854 we mentioned earlier, this would take $16.2 billion out of the U.S. economy or 0.1% of GDP in 2015.

The job losses could be greater – or less harmful – depending on how employers see the recent price drop for crude.  There is also the issue of break-even levels to consider.  No one seems to have a good handle on actual break-evens for domestic oil production, so this is the “Known unknown” in the calculus.

Then there is the subject of economic multipliers – how many other jobs do these oilfield and related jobs actually support?  Take the home office of a medium sized exploration and production company, for example: how many layoffs will occur there as prices drop?  Then there is all the economic infrastructure around the fields themselves – homebuilders, service industry staff, car dealerships, etcetera.  How will those sectors respond to a deteriorating local economy?  Three quick thoughts on this:

Since consumption is the first variable in the classic equation for Gross Domestic Product, we are assuming that reduced personal income has a direct effect on national output.  We are ignoring potential positives to lower oil prices, such as increased consumer spending in other areas from the money saved at the pump.  That benefit would have to come in the form of higher multipliers than the ones we consider here that are related to the energy sector and its economic adjacencies.  A dollar spent on gasoline looks just like a dollar spent at the local organic food market, until you chase it upstream and see what else it touches.

At the lower end, consider a 3x multiplier on the 0.1% of GDP we calculated previously.  That would amount to 0.3% in 2015.  What’s the magic behind that number? Simply that it is a common starting point for the economic multiplier related to a high wage job.  It is, for example, the most common assumption used by auto industry economists – a sector I used to follow quite actively – to translate a lost assembly plant job in terms of its effect on a local economy.

At the higher end, try a 10x multiplier.  The math behind this comes from the energy industry itself, which estimates total direct employment at 9.8 million (see http://ift.tt/1x2DsC2 ) , or just over 10x our oilfield/related employment number.  That doesn’t even include the impact on local economies, but it is a decent starting point.  By that multiple, a loss of $16 billion in income at the oil field would amp up to $160 billion, or 1% of GDP.

If you are a glass half empty kind of person, you simply need to believe that the economic benefits of lower energy prices will outrace the math we present here.  Can we get more than 0.3-1.0% GDP growth from the tailwinds of lower oil prices in 2015?  If the answer is yes, then these are surmountable hurdles.

And if, like Conan, you tend towards darker thoughts, then the math we present here is just the tip of the iceberg.  Or the sword…










via Zero Hedge http://ift.tt/1C5OPYp
13. The "Unequivocally 'Not' Good" Reality Of Lower Oil Prices & Jobs - http://ift.tt/UCMjST
Zero Hedge -

Via ConvergEx’s Nick Colas,

The drop in oil prices is certain to cause some incremental unemployment in the U.S. energy industry; the question is simply how much and what that means for the American economy as a whole.

To begin the search for answer, you have to go to the wellhead and consider how many individuals work in American oilfields, as well as those workers that directly support those activities.  The answer here, courtesy of the Bureau of Labor Statistics, is 812,000 as of March 2014 (the most current data available).   That may not sound like a lot, but at average annual wages of $99,854/worker, this small group receives $81 billion in estimated annual compensation.  How bad can things get if oil prices stay low?

We actually have a recent case study in the 2008 experience, the last great crash in oil prices.  The answer is a 20% headcount reduction from October 2008 to January 2010.  The great wildcard for U.S. GDP is the “Multiplier” effect of these jobs.  The damage could be slight (at 3x just 0.3% of GDP) or large (at 10x, a full 1% cut in 2015).

Offsetting benefits will have to surmount that hurdle to make themselves useful.

You may not know the author Robert E. Howard, but you have certainly heard of his most famous character: Conan the Barbarian.  The original stories predate the famous movies of the 1980s by several decades, first published in a pulp fiction magazine called “Weird Tales” in 1932.  If you enjoy “Game of Thrones” or any sword-and-sorcery drama, you have Conan to thank, for Howard essentially created the genre and gave it its first hero.

As for the inspiration for the Conan character, a muscular loner with serious fighting skills, it helps to remember that Howard grew up central Texas in the early 1900s.  His hometown of Cross Plains saw its share of the 1920s oil boom. In watching the men that worked these early finds he found the inspiration for the tough and independent Conan.  Howard’s famous barbarian is really just a Texas roustabout with a loincloth and a sword.

Fast forward to today, and the fate of Conan’s progenitors is of great interest in economic circles.  The drop in oil prices from $106 in June to yesterday’s $56 close cannot, after all, be good for employment in the oil fields of Texas, North Dakota or Colorado.  Yes, we all know commodity prices swing around like a weathervane in a hurricane, but this drop seems different.  It does not come with a financial crisis like 2008 or on the heels of Fed-designed recessions in the late 1970s/early 1980s.  Rather, it seems to start in the OPEC meeting room and emanate outwards towards the oilfields of Russia and American northern Midwest.  So what will the harvest be if crude oil’s price drop lingers into 2015 and beyond?

To answer that question we started with industry data from the Bureau of Labor Statistics for employment and wages…

Here’s a summary of what these charts show:

We are focusing for now on “Direct” employment at or near the wellhead – where the product comes out of the ground.  The categories we chose were employment related to: Oil and Gas Extraction, Support Activities for Oil and Gas Operations, Oil and Gas Pipeline Construction, Oil and Gas Field Machinery and Equipment, and Drilling Oil and Gas wells. 

The total current employment for these 5 classifications is 811,552 as of March 2014 (lastest data available).  This represents 0.52% of the current civilian workforce.  The largest segment is “Support Activities” at 38% of the total, followed by “Extraction” at 24% and “Pipeline Construction” at 16%.

At just over half a percent of the workforce, this may not seem like a lot of people but they are paid exceedingly well.  The average annual income here is $99,854 according to the BLS data, up from $64,642/year at the beginning of 2003 (the first year of this data series).  That is a 54% increase in the last 11 years during a time when national household incomes remained largely flat.

Since 2001, the first year of the employment data, the oilfield employment levels relative to the civilian workforce have risen steadily, starting at 0.29% and climbing to just over 0.40% in 2008.  From there they decline along with oil prices as the Great Recession pushed crude prices down from $140 to the low $30s.  Then, starting in January 2010 they began to climb again as commodity prices recovered.  The takeaway: yes, employment in the oil fields correlates directly with oil prices.  In percentage terms, employment here dropped by 20% in a little over a year before it bottomed with crude prices in the 2008-2010 downcycle.

With that data in hand, we can begin to consider what will happen to oilfield employment if oil prices do not begin to snap back in 2015.  A few thoughts:

If employment levels track the 2008-2010 experience, we can expect a 20% decline in employment.  That amounts to 162,400 jobs based on current employment.  How quickly they come off the rolls is another issue.  The largest losses during the last recession came in month 3 and month 6 after the peak.

Remember that these are high-paying jobs on average, so that 162,400 job loss will feel more like +300,000 to the real economy.  Assuming that average annual pay of $99,854 we mentioned earlier, this would take $16.2 billion out of the U.S. economy or 0.1% of GDP in 2015.

The job losses could be greater – or less harmful – depending on how employers see the recent price drop for crude.  There is also the issue of break-even levels to consider.  No one seems to have a good handle on actual break-evens for domestic oil production, so this is the “Known unknown” in the calculus.

Then there is the subject of economic multipliers – how many other jobs do these oilfield and related jobs actually support?  Take the home office of a medium sized exploration and production company, for example: how many layoffs will occur there as prices drop?  Then there is all the economic infrastructure around the fields themselves – homebuilders, service industry staff, car dealerships, etcetera.  How will those sectors respond to a deteriorating local economy?  Three quick thoughts on this:

Since consumption is the first variable in the classic equation for Gross Domestic Product, we are assuming that reduced personal income has a direct effect on national output.  We are ignoring potential positives to lower oil prices, such as increased consumer spending in other areas from the money saved at the pump.  That benefit would have to come in the form of higher multipliers than the ones we consider here that are related to the energy sector and its economic adjacencies.  A dollar spent on gasoline looks just like a dollar spent at the local organic food market, until you chase it upstream and see what else it touches.

At the lower end, consider a 3x multiplier on the 0.1% of GDP we calculated previously.  That would amount to 0.3% in 2015.  What’s the magic behind that number? Simply that it is a common starting point for the economic multiplier related to a high wage job.  It is, for example, the most common assumption used by auto industry economists – a sector I used to follow quite actively – to translate a lost assembly plant job in terms of its effect on a local economy.

At the higher end, try a 10x multiplier.  The math behind this comes from the energy industry itself, which estimates total direct employment at 9.8 million (see http://ift.tt/1x2DsC2 ) , or just over 10x our oilfield/related employment number.  That doesn’t even include the impact on local economies, but it is a decent starting point.  By that multiple, a loss of $16 billion in income at the oil field would amp up to $160 billion, or 1% of GDP.

If you are a glass half empty kind of person, you simply need to believe that the economic benefits of lower energy prices will outrace the math we present here.  Can we get more than 0.3-1.0% GDP growth from the tailwinds of lower oil prices in 2015?  If the answer is yes, then these are surmountable hurdles.

And if, like Conan, you tend towards darker thoughts, then the math we present here is just the tip of the iceberg.  Or the sword…








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boutique louboutin paris First

boutique louboutin paris First

the owners have been opened up the area, and some are circle into “small pieces shortage”, there’s simply been changed to “private garden.”In addition, visits to the reporter also found cases where the owners themselves are relatively common wells, wellhead and more designed to be more subtle.Residents: mostly unawareSuch wanton expansion, vandalism, other owners district know?First,boutique…

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boutique louboutin paris First

the owners have been opened up the area, and some are circle into “small pieces shortage”, there’s simply been changed to “private garden.”In addition, visits to the reporter also found cases where the owners themselves are relatively common wells, wellhead and more designed to be more subtle.Residents: mostly unawareSuch wanton expansion, vandalism, other owners district know?First,boutique louboutin paris, find a reporter in the district where several owners, owners are asked to give more is “Yes?” “I did not hear ah.” “Which piece ah?” This answer seems never heard of this thing. Subsequently,tn, the reporter found the Rose Valley community property,chaussure air jordan pas cher, Chen Shih country manager,tn pas chere, said, in fact,christian louboutin soldes, from the owners to stay there since 2008, has more than one owner with property reflects this issue, as the property,escarpins louboutin, although they actively deal with,tn requin, but the effect is not very satisfactory .”Indeed there are the owners of the area before the expansion issue violations reflected to us, and we all say,parajumpers homme, but we only service units, limited powers, but is also faced with the owners, they are able to do is just to communicate with the illegal owners, to persuade . “Chen Shih-country memories.Property: has notified law enforcement agenciesChen Shih country introduced in 2013 and earlier this year.

this time, the real estate company submitted more concentrated areas, the owners privately expansion, renovation of the garden are more cases,hollister outlet, there is really no way to deal with the latter part of the property, put the briefing to the relevant law enforcement agencies.Rose Valley area in two phases, the project altogether,air max pas cher, although the district from 2008 began to have owner occupancy,christian louboutin paris, but the last part of the second phase of the housing was completed in June this year, and to the main villa, so now there are many property owners in the district renovated houses.”According to the program, our staff has to communicate with the corresponding owners too,christian louboutin pas cher, the stakes are also clearly explained, and can not listen to the owners, we have no alternative. Now we have the situation to the relevant departments, as to how the relevant departments treatment,hollister online, we do not know. “said Chen Shih country.Forest Police: investigate four ownersSubsequently.

the reporter went to the net monthly Changchun National High-tech Industrial Development Zone, Forest Public Security Bureau,air max femme pas cher, the Secretary Gui Guangdong said that this year they have dealt with two residential property owners,chaussure louboutin, Rose Valley “unauthorized forest land use change” case. Questions from reporters in the Rose Valley area happens to be found in September along with their investigation of the case.Ding police investigators introduced in early September they received reports that investigators through nearly two weeks of investigation and verification,escarpin louboutin, determine the Rose Valley area L7-104, L11-104,air max bw pas cher, L11-105, L11-108 four owners of the Housing renovation process exist privately external expansion, “unauthorized change of forest use” violations, the most serious of which extend outside an owner, an area of 166.8 square meters.In mid-September, the branch of the owners of the four parties issued a “forestry administrative penalty decision” notify the owners to pay a fine of four, and the deadline to 90 days to restore the original appearance of woodland.

over the scope of this buffer is further south of the Moon Lake National Forest Park .About 50 meters along the drainage canal on foot, the reporter finally saw the residents pointed out the place. This is the back fence of a residential villa, decorated scene is a mess, the district also fell to the side of the fence.Construction along the villa’s windows face south has been extended outside the district has made some hardened ramp,barbour pas cher, stairs small area extending out onto the ramp has also been revised. Originally the fence in the area where the villas and hillsides have and Moon Lake National Forest Park together into one.Reporters noted that the vast majority of the site have not yet completed renovation.

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Read tips grandfather worked in the fields, in the next six-year-old grandson playing accidentally fell in diameter 0.4 m 10 m deep wells. Fire officers and people nearby after 4 hours, digging 10 meters, when the boy was rescued 12 o’clock midnight.

[Event] children out of the well

July 16 evening, Lankao County Fire Squadron received the alarm,moncler uomo outlet, the county Chengguan Township ancient Zhai a 6-year-old child accidentally falling wells, squadron Luoya Hui quickly led a rescue vehicle and six men rushed to the scene to rescue.

9 minutes later, the fire brigade arrived at the scene found that children falling wells wellhead diameter of about 40 cm,spaccio peuterey, depth of 30 to 40 meters, the water about 10 meters away from the wellhead; cloudy fall well child stuck in the water 10 meters, in addition to the head outside the entire body is soaked in cold well water.

Because Flanders trapped deep position,piumini moncler, the soldiers first time using mobile supply fresh air to the underground source of transportation,woolrich uomo, to ensure adequate oxygen underground,http://cutyayu.sakura.ne.jp/cabbs/sunbbs.cgi?mode=form&no=116&page=1payon, while the commander sent his helmet cloudy head underground to prevent falling objects hit the ground hurt him. Subsequently,http://www.jyzxs.net/read-0-tid-1762.html/read.php?tid-1762.html/read.php?tid-1762.html/, the fire brigade removed the rope, marked slipknot, along the rope to the mine, intended to set out cloudy with a rope, but due to cloudy leg was stuck on a rope cloudy sore, rescue officers dare force pulling,http://bbs.bzwh.gov.cn/home.php?mod=space&uid=55402, rescue a troubled time.

According to the site, contact Luoya Hui while deployed excavators, ready to break the well of salvation, while dragon, he tried to guide the card will be left leg straight. After trying seven or eight times, cloudy due to resist pain relief.

[Rescue] 3 excavator into rescue

20:27, first a small excavator arrived at the scene and began digging wells four weeks. However, wells north of about 1.5 m at a tree to become another rescue problem.

To save you have to dig dig poplar,nike air max pas cher, but hastily excavated tree roots and fear lead to the collapse of the wall extrusion. Luoya Hui introduction, the car was just a handful of rescue shovels,http://club.shouyoubus.cn/forum.php?mod=viewthread&tid=559368, simply enough, the presence of ancient literature after Zhai village party secretary Yang learned of the situation, immediately organized the villagers to carry tools came to the rescue.

After rescue workers with shovels will contact between trees and wells Waduan the tree down and moved a safe location. At this point,http://tanfukubaken.seesaa.net,moncler outlet, the second vehicle excavator arrived to join the rescue. After two excavators dug the soil around the wall, next to the wall to rescue workers with shovels to clean up the soil,piumini woolrich, will lift away the wellbore. When V borehole dug, the soil around the beginning of the pulp effluent, commander let excavator digging to expand the scope of the slurry to prevent the mud flow into wells, while using manual cleaning mud around the wall.

23:03, the third large excavator arrived at the scene, rescue faster. 23:50, section VIII of the wall has been successfully removed,giubbotti woolrich,http://www.eveshausen.de/cgi-bin/gaestebuch.cgi, firefighters can already cloudy enough to touch, Luoya Hui child was immediately approached by hand probe card situation.

“Wellbore firmly stuck with the child’s left knee and heel, keep left ass falls,air max tn requin, pulling up just keeps getting tight.” Luoya Hui will clean debris wells,nike tn, one hand holding down the left cloudy legs,air max tn pas cher, thighs, one hand clenched his left heel, heel slowly moving downward, while dragon mood,http://www.euruchess.org/cgi-bin/index.cgi, after nearly five minutes of effort,spaccio moncler, and finally the child knees and the wall apart. Pointer to 0:00 when she finally rescued the cloudy.

After checking the medical staff, cloudy body only by a few bruises, does not matter.

According to Yang literature reports, cloudy parents are overseas workers,http://celtis.sanparks.org, children usually followed by grandparents live, incident grandfather worked in the fields alongside the results do not accidentally fall into the wells in Flanders.

(Original title: Fire-year-old boy digging wells fall 10 meters to save)

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Old Park Lane Capital comment on LGO Energy and the highly restricted choke - LSE:LGO

Old Park Lane Capital comment on LGO Energy and the highly restricted choke

Here is Old Park Lane Capital’s latest update on LGO Energy PLC (LSE: LGO) “LGO’s recently completed well GY-670 has stabilised at a rate of 1,085 bopd on a highly restricted choke. With a wellhead pressure of 1,290 psi, the well has flowed at an average rate of 1,104 bopd of 37 degree API oil over the last 48 hours. The open hole flow rate of GY-670 is calculated at over 6,000 bopd.

This is the sixth completion out of eight wells drilled in the current 30-well programme on the Goudron field and the first of three wells from Pad-3. Two further wells, GY-671 and GY-699, have yet to be placed on production from the same pad.

Although investors should guard against runaway expectations for the next two well completions on Pad-3 in particular, this is undoubtedly great news for LGO in the context of significantly increased group production going into 2015. We believe that such positive operational performance will serve to offset much of the impact of a lower oil price environment.”

At the Wellhead: A model oil contract in India might not be too popular
Otmane El Rhazi from The Barrel Blog.

India is setting up a new model for outside investment in its oil and gas sector. But as Mriganka Jaipuriyar notes in this week’s Oilgram News column, At the Wellhead, it isn’t getting rave reviews just yet.

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The statistics are glaring—of the 209 discoveries made since India launched the New Exploration Licensing Policy in 1999, only 30 have been put into production.

India last saw a major hydrocarbon discovery in the early 2000 when Reliance Industries discovered the deepwater KG-D6 gas block and Cairn India discovered the Rajasthan oil block.

Furthermore, India has seen a 25% drop in gas production between fiscal year 2009-10 (April-March) and 2013-14 to 3.42 Bcf/day, though one can say that this drop has been partly offset by a 12% rise in crude oil production over the same period to 37.79 million mt (760,000 b/d).

In light of these facts, one would have expected the action-oriented and pro-investment government led by Prime Minister Narendra Modi to have taken some decisive steps to spur the E&P engine and deliver on its commitment of gradually boosting India’s energy security and make it less import dependent.

India relies on imports to meet 85% of its crude needs and recently had the privilege of overtaking Japan to become Asia’s number two crude oil importer.

It is against this backdrop that the terms and conditions laid out by the government in its model revenue sharing contract come as a surprise. The onerous clauses will drive investors away when the need of the hour is to get the best oil and gas companies to come in and uncover the country’s hydrocarbon potential.

To give the government some benefit of doubt, it has said that the model contract was just that—a model—and officials are working on parts of the contract that have raised the most concern in the industry.

India has for the last several years debated whether it should completely do away with the decades-old production sharing contract, where a contractor is allowed to fully recover costs before sharing revenue with the government, or move to a revenue sharing model, where the government gets a share of revenue from the moment production begins on a block.

It was the controversies surrounding the KG-D6 block and allegations by the federal audit agency that operator Reliance had inflated costs to cut the government’s share of profit petroleum that led to the start of the debate.

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A committee set up by the previous government had recommended in 2012 that India move to a revenue sharing model. The recommendation, adopted by the new government, was based on the premise that a focus on costs has been a major bottleneck in exploration with the contractor and the government often disagreeing on the actual cost and delaying progress of a project.

But some of the clauses in the Modi-led government’s model revenue sharing contract have raised serious concerns in the industry, according to K. Ravichandran, senior vice president at ratings agency ICRA.

These include asking the contractor to set up an escrow account where all revenues earned from the asset will be deposited so that the government can protect its share of the revenue and, in certain circumstances, restrict the contractors’ access to the revenue; penalties if the actual volume deviates from the committed volume by more than 25%; and no scope to lower the government’s share of revenue if the actual capital expenditure on a block is higher than initial estimates.

The conditions set in the contract won’t work in India where the risks are high for deep and ultra-deepwater projects, and the probability of time and cost overruns are high, Ravichandran said. Also, in unexplored basins, if actual production is lower than the initial estimates, the industry could end up paying large penalties, he said.

“The government seems very focused on maximizing revenue for itself rather than maximizing produciton. They are looking at it from an audit point of view and not a business perspective,” Ravichandran said.

A similar view was echoed by P. Elango in an editorial published in local daily The Hindu, where he said that the spirit of partnership and trust completely goes missing under the escrow clause.

On the penalty for low production, Elango wrote: “The data from seismic surveys using the best of technology cannot tell with certainty whether the fluid seen is oil or water. To put such penal provisions is a sure way to put off serious investors who have multiple investment options across the globe.”

The key difference between the production sharing contract and the revenue sharing model is that the PSC model would encourage investors to take higher exploration risks, and in the event of success, the costs could be recovered, Elango wrote. Since only one-third of our sedimentary basins have been fully explored, a contract model that encourages intensified exploration activities should have been preferred, he said. — Mriganka Jaipuriyar in Singapore

Host communities decry neglect by multinational oil firms

Oil communities in Bayelsa State, under the aegis of Swamp Oil and Gas Producing Communities, have decried the neglect and insensitivity by mltinational oil companies.
The group singled out the Shell Development Petroleum Company and the Nigeria Agip Oil Company as the alleged culprits in this direction.
To this extent, SOGPC made a clarion call to the oil majors to stop the alleged ‘mistreatment’ of the communities and do the needful to ensure harmonious coexistence.
It has therefore given a seven day ultimatum to them to address the alleged neglect of the communities, particularly in the area of security support for the protection of oil well heads and manifolds.
The group said it also requested the oil majors to pay monthly salaries for the wellhead guards and pipeline security men, as well as scholarships to youths from primary to tertiary institutions.
Bayelsa State Chairman, SOGPC, Chief Victor Igbaba, in a statement on Sunday, lamented the non-recognition of the group and its modest demands to foster better relationship between the oil companies and the communitues.
Igbaba said prior to the existence of the association, multinational oil companies had suffered great loss on repairs of vandalized oil pipelines and illegal refineries and oil theft.
He, however, said since the coming on board of the group, such menace had reduced drastically owing to sustained sensitisation and campaigns to safeguard oil facilities, well heads, manifolds and the endangered environment.
He picked holes in the ill-treatment meted out to revered chiefs and youths of host communities, adding that “whereas they are treated with ignominy, contempt and disdain, government and security contractors of SPDC and NAOC are given the best treatment,” as they were usually flown on airplanes and helicopters, even to the shortest distance.
Igbaba noted that the insensitivity of the oil majors was also displayed when they were asked to provide security support to enable the association to safeguard wellheads/oil pipelines in the interest of their facilities.
He said it was unfair that members of the association, who had taken over the security job of their facilities that had drastically reduced oil theft, illegal refineries and bunkering, were being treated with ignominy.
He pointed out that unknown to oil majors, the surveillance contractors whom they were paying, were applying neo-colonialism, but paying individuals to allegedly damage the pipelines only to apply and get more funds from them for jobs not done.
He further said during the period of existence, over 370 illegal refinery operators had left to embrace the protection of wellheads and oil pipelines.
He noted that stipends should be given to royal fathers, CDC chairmen and youths leaders, completion of abandoned host communities MoU projects, befitting secretariat, and skills acquisition centre for youths, home and abroad.



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Oilfield Firefighting (Modern Marvels)

Oil well fires are more difficult to extinguish than regular fires due to the enormous fuel supply for the fire. In fighting a fire at a wellhead, typically high explosives, such as dynamite, are used to create a shockwave that pushes the burning fuel and local atmospheric oxygen away from the well. (This is a similar principle to blowing out a candle.) The flame is removed and the fuel can continue to spill out without catching on fire.

After blowing out the fire, the wellhead must be capped to stop the flow of oil. During this time, the fuel and oxygen required to create another inferno are present in copious amounts. At this perilous stage, one small spark (perhaps from a steel or iron tool striking a stone) or other heat source might re-ignite the oil.