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Brightoil Aims to Commission Xinjiang Well in September

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Hong Kong-listed Brightoil Petroleum said in a statement Tuesday that it expects to commission the onshore Dina 1-2 well in September this year. The well is located in the Xinjiang Uyghur Autonomous Region. The company expects the well to produce 550,000 cubic meters per day of natural gas and 25 tonnes per day of condensate after commissioning.

 

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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August 1st, 2012 | Posted in Drilling & Production | Read More »

After hitting record high, corn prices edge down

The price of corn edged down slightly on Tuesday, an aberration after climbing higher throughout the summer.

Corn prices have soared since late June as a brutal drought has dried out fields across much of the country, particularly big corn producers like Indiana and Illinois.

On Monday, corn for September delivery hit a record of $8.20 per bushel.

Tuesday, corn for December delivery, the most active contract, fell 8.75 cents, to $8.0525 per bushel.

As of this week, 48 percent of the U.S. corn crop is in “poor” or “very poor” condition, according to a research note Tuesday by Stifel Nicolaus analysts led by Meyer Shields. Last year at this time, only 14 percent of the crop was in one of the two lowest conditions.

Many analysts fear that even a good rain wouldn’t salvage the corn crop at this point in the season.

“With 94 percent of the corn crop already at or past the pollination phase, future rains this summer probably won’t have much positive impact on final yields,” Shields wrote to clients.

There is a little more hope for soybeans, which are planted later in the season. Shields said that rain “within the next week or so” could still boost soybean crops.

November soybeans fell slightly, losing 2.5 cents to $16.41 per bushel. September wheat fell nearly 3 percent, losing 26.25 cents to $8.8825 per bushel.

On the U.S. stock market, indexes closed slightly lower as investors waited for details on whether the Federal Reserve planned to pump more money into the economy. That also pushed down most energy prices, which are tied to how investors feel about the economy.

Benchmark U.S. crude lost $1.72 to end the day at $88.06 per barrel in New York. Brent crude lost $1.28 to finish at $104.92 per barrel in London.

Gasoline lost 4.41 cents to end at $2.7743 per gallon, heating oil lost 3.74 cents to finish at $2.8417 per gallon, and natural gas fell less than a penny to finish at $3.2090 per 1,000 cubic feet.

No key metals made significant moves.

Gold for December delivery fell $9.40 to $1,614.60 per ounce. September palladium rose $2.20 to $590.55 per ounce, and October platinum rose $5.10 to $1,416.90 per ounce.

September silver fell 11.9 cents to $27.914 per ounce.

September copper was virtually flat, edging up 0.15 cent to $3.4175 per pound.

Article source: http://finance.yahoo.com/news/hitting-record-high-corn-prices-202024594.html

August 1st, 2012 | Posted in Trading | Read More »

News Summary: Drought-stricken corn prices fall

DOWN FROM SKY-HIGH: Corn prices edged down 1 percent. Corn for December delivery, the most active contract, lost 8.75 cents to close at $8.0525 per bushel. But it was only small relief: On Monday, September corn hit a record high of $8.20 per bushel.

A DRY SUMMER: Corn prices have been rising as drought grips much of the country, including corn producers like Indiana and Illinois. Some analysts think it’s too late in the season to salvage much of the corn crop even if rains come.

OIL INCHES DOWN: Energy prices fell along with stocks, as investors waited to see whether the Federal Reserve would pump more money into the economy. Crude, gasoline and heating oil all fell.

Article source: http://finance.yahoo.com/news/news-summary-drought-stricken-corn-202053553.html

August 1st, 2012 | Posted in Trading | Read More »

IAEA Says Nuclear Energy Will Go From Strength to Strength

Global production of nuclear energy is expected to grow significantly in future years, despite setbacks in Japan and Germany, as China and the United States eyes next-generation reactors.

Worldwide nuclear electricity generating capacity is expected to increase between 44 percent and 99 percent by 2035, the International Atomic Energy Agency and the Organization for Economic Cooperation and Development Nuclear Energy Agency said in their joint biannual report on uranium resources, released this week.

Japan’s decision to shut down all but two of its nuclear reactors in the wake of the nuclear accident at Fukushima Daiichi last year played in to Germany’s decision to phase out nuclear by 2022, but has apparently not slowed plans in other parts of Asia. Nuclear energy will see the sharpest expansion in China, India, and South Korea, the agencies said in a release, as well as in Russia.

Gary Dyck, head of nuclear fuel cycle and materials at the International Atomic Energy Agency, told Reuters that the long-term impact of Fukushima on global nuclear energy production was a “speed bump… We still expect huge growth in China.”

Capacity in East Asia will jump by 125 percent to 185 percent, according to the report.

Though China suspended new nuclear projects in the wake of Fukushima, it now appears that China will react to the incident by turning to newer, domestically produced nuclear reactors, Harvard research scholar Yun Zhou wrote last month.

“It appears that the Fukushima disaster may lead China to adopt newer, third-generation (or Gen III) reactor designs created by Chinese firms, allowing China to wean itself from purely foreign reactor technology much more quickly than was expected pre-Fukushima,” she wrote. “In fact, a race to develop indigenous Gen III technology is emerging, with all three major nuclear power companies in China announcing their own Gen III reactor designs.”

China’s 22 Generation II reactors currently under construction will not go under any major redesigns, but its additional 14 planned reactors are much more likely to be advanced models.

Meanwhile, nuclear advocates are making a push in the US for Generation IV reactors, many of which are viewed as safer and cheaper than large-scale Generation II light water reactors currently in use.

Climatologist James Hansen, who heads the NASA Goddard Institute for Space Studies, and Virgin billionaire Sir Richard Branson penned a letter earlier this year to President Barack Obama urging him to reignite federal efforts to commercialize what they called “arguably the world’s most powerful clean energy technology.”

“Unlike today’s nuclear reactors, the IFR [internal fast reactor] can generate unlimited amounts of inexpensive clean power for hundreds of thousands of years. It provides an excellent solution for what to do with our nuclear waste because it can use our existing nuclear waste for fuel and it is significantly more proliferation-resistant than other methods of dealing with nuclear waste,” they wrote, according to a copy of the letter obtained by the Breakthrough Institute.

“The IFR is also inherently safe. In an emergency, unlike today’s reactors, it shuts down without human intervention and without requiring electric power.”

The IFR is “sitting on the shelf waiting for the US government to support its commercialization,” Hansen and Branson wrote in the letter, dated April 17 and also signed by American Nuclear Society president Eric Loewen.

The US Department of Energy has backed another type of next-generation reactor, known as a small modular reactor (SMR), which is about one-third of the size of current reactors or smaller. In March, it announced $450 million in new funding to support engineering, design certification and licensing for up to two SMRs over five years. The funds are subject to Congressional appropriations.

DOE said it would solicit matching private funds for a total of $900 million and hoped the SMRs would be ready for commercial operation by 2022.

“Through the funding for small modular nuclear reactors announced today, the Energy Department and private industry are working to position America as the leader in advanced nuclear energy technology and manufacturing,” DOE Secretary Steven Chu said at the time.

And this week, the Babcock Wilcox Company and FirstEnergy Corp announced that they would study the potential deployment of a new small modular reactor. FirstEnergy currently operates two full size reactors in Ohio, and this is the second such announcement from Babcock Wilcox.

Other states are in on the SMR competition, including Missouri, Washington and South Carolina.

The new SMR funding comes on the heels of $8 billion in federal loan guarantees to support two new 1,100 megawatt Westinghouse AP1000 nuclear reactors in Georgia, as well as $200 million to advance AP1000 certification and $170 million in grants to Universities to support nuclear technology RD.

This article was published with permission from The Breakthrough Institute

Article source: http://feedproxy.google.com/~r/oilpricecom/~3/AOJmN7VwgWM/IAEA-Says-Nuclear-Energy-go-from-Strength-to-Strength.html

August 1st, 2012 | Posted in Headlines | Read More »

Rail May Hold its Own Against Pipelines

The Association of American Railroads reports the number of rail tankers carrying crude oil and petroleum products in the United States increased more than 35 percent during the first six months of the year when compared with 2011. After the U.S. Energy Department, in its report, noted the lack of pipeline infrastructure in North Dakota, British supermajor BP announced it was considering rail to bring oil from the Bakken formation there to its refinery in Washington state. In terms of the environmental footprint, meanwhile, rail deliveries account for less than 1 percent of the total emissions from the transportation sector. These findings come even though rail shipments are three times more expensive than pipeline deliveries
 
The AAR finds that 241,000 rail tanker cars hauled oil during the six-month period ending in June, a 38 percent increase over the same period in 2011. For June, rail deliveries increased 51 percent over their 2011 levels for the month. Each rail tanker carries around 700 barrels of oil, meaning June deliveries translated to nearly 1 million barrels per day. The U.S. Energy Department’s Energy Information Administration attributes much of the increase in rail deliveries to the oil boom under way in North Dakota, which in March became the second-largest oil producing U.S. state. Oil producers in the region, however, rely on rail to get oil out of the region and BP this week said it was considering a rail project to bring Bakken crude to its 225,000-bpd refinery in Washington. The permitting process could begin as early as next month.
 
Rail deliveries, however, cost, on average, $15 per barrel compared with the $5 per barrel for deliveries through pipeline systems. On the other hand, the rail system is getting less energy intensive. While the transportation sector accounts for about 25 percent of the global energy-related carbon dioxide emissions, rail represents a minor fraction of that total. Across the board, emissions for transportation are increasing in every sector except rail, which accounts for less than 1 percent of total CO2 emissions for the sector.
 
When completed, the entire Keystone oil pipeline network could carry about 1.1 million bpd compared with the same approximate total for the entire United States for rail. The 3,100-mile Enbridge Pipeline System, which stretches from the Athabasca oil sands facilities in Alberta to oil refineries in the Midwest, can carry, on average, 1.4 million bpd. Last week, however, more than 1,000 barrels oil spilled from a section of that pipeline in Wisconsin. While Enbridge said much of the release was contained, the incident occurred one day after the two-year anniversary of the costliest onshore crude oil spill in U.S. history from a section of the same pipeline network. Though in terms of volume, pipeline transportation has proved its merit, the move by BP in the Bakken formation suggests rail transit remains a viable option for the industry.

By. Daniel Graeber of Oilprice.com

Article source: http://feedproxy.google.com/~r/oilpricecom/~3/5t_qaACuZ6Y/Rail-May-Hold-its-Own-Against-Pipelines.html

August 1st, 2012 | Posted in Headlines | Read More »

CBSRC-23-2062136A0 – Piping Designer

Job Description

Requisition Number: IE70241
Interest Category: Engineering
Interest Sub Category: Engineering – CADD
Job Title : Piping Designer
Employment Category/Status: full-time
Type of Position: Regular Hire
Country: U.S.State: Colorado
City: Lakewood

Minimum Requirements: Associate’s degree or completion of technical trade school courses, or equivalent experience.Minimum ten years of design experience with AutoCAD experience developing energy, oil, gas or petrochemical industry drawings.Five of the ten years of experience must have been spent using AutoCAD 3D and CADWORX plant software to develop 3D piping and equipment models.Proficiency in mechanical and piping 3D drafting and design of mid-level to complex designs/layouts.Must be able to travel to field project locations with lead designers or engineers to make field sketches, take dimensions, etc., and climb ladders, stairs and piperacks at these locations.Proficiency in Microsoft Word and Excel.

Job Description:
This position involves the development, design and drafting of 3D CAD based mechanical and piping drawings for the energy, oil, gas and petrochemical industry projects.Successful candidate will:Have a full understanding of the design and drawing preparation process using project specifications and discipline-associated written and verbal instructions in accordance with established design practices, standards and procedures.Collect data on manpower, man-hour and labor costs requirements for design staff to aid in evaluating the budget.Provide advanced CADWORX plant drafting and design services by preparing and maintaining mechanical and piping drawings.Prepare CADWORX plant designs and estimates from general instruction and/or preliminary sketches, diagrams, or schematics.Prepare Line Lists, Manual Valve Lists, Drawings Lists.May recommend modifications and changes for design improvement and simplification.Produce complex technical drawings and piping isometrics.Prepare working drawings from conceptual layout to detailed finished product.Coordinate CAD projects with other discipline personnel.Prepare and assemble project deliverables.

EOE M/F/D/V

Article source: http://www.careerboard.com/job/2798239-Piping-Designer.aspx

August 1st, 2012 | Posted in Jobs | Read More »

CBSRC-342-2062448A0 – Oilfield Services Field Technician

Job Description

Job Title: Oilfield Services Field Technician
Job Description:

At Waste Management, an Oil Services Field Technician must have the ability to perform manual labor in confined spaces under direct supervision. An Oil Services Field Technician performs general manual labor tasks including, but not limited to, the following:

- Lifting and moving materials greater than 50lbs
- Operating industrial vacuum equipment (guzzler)
- Industrial cleaning of oil field equipment
- The use of hand tools
- Spending 50% of time in confined space (including pits and Roll Off boxes)

Qualifications:
- At least 6 months of related experience, with a preference of 1 year of related experience.
- Valid Driver’s License
- MUST BE ABLE TO LIFT UP TO 50 LBS
- Permit -Required Confined Space [29CFR1910.146] 8 Hour Entrant Attendant Program
- Hazwoper [29 CFR1910.120] 40 Hour Worker Program
- CPR First Aid
- A field tech can work once they have the 8hr CS but it is recommended they receive the 40hr and CPR/First Aid ASAP
- Must be at least 18 years of age or older
- Must be eligible to be legally employed in the US
- Ability to perform physical requirements of the position with or without reasonable accommodations.
- Successfully pass pre-employment (post offer) drug screen, background check and motor vehicle records check

At Waste Management, each eligible employee receives a competitive total compensation package including Medical, Dental, Vision, Life Insurance and Short Term Disability. As well as Stock Purchase Plan, Company match on 401k plan, Tuition Reimbursement and more! Our employees also receive Paid Vacation, Holidays and Personal Days. Please note that benefits may vary by site.

EOE M/F/D/V

Article source: http://www.careerboard.com/job/2798324-Oilfield-Services-Field-Technician.aspx

August 1st, 2012 | Posted in Jobs | Read More »

CBSRC-342-1912550A3 – Oilfield Services Field Technician

Job Description

Job Title: Oilfield Services Field Technician
Job Description:

At Waste Management, an Oil Services Field Technician must have the ability to perform manual labor in confined spaces under direct supervision. An Oil Services Field Technician performs general manual labor tasks including, but not limited to, the following:

- Lifting and moving materials greater than 50lbs
- Operating industrial vacuum equipment (guzzler)
- Industrial cleaning of oil field equipment
- The use of hand tools
- Spending 50% of time in confined space (including pits and Roll Off boxes)

Qualifications:
- At least 6 months of related experience, with a preference of 1 year of related experience.
- Valid Driver’s License
- MUST BE ABLE TO LIFT UP TO 50 LBS
- Permit -Required Confined Space [29CFR1910.146] 8 Hour Entrant Attendant Program
- Hazwoper [29 CFR1910.120] 40 Hour Worker Program
- CPR First Aid
- A field tech can work once they have the 8hr CS but it is recommended they receive the 40hr and CPR/First Aid ASAP
- Must be at least 18 years of age or older
- Must be eligible to be legally employed in the US
- Ability to perform physical requirements of the position with or without reasonable accommodations.
- Successfully pass pre-employment (post offer) drug screen, background check and motor vehicle records check

The compensation for this position is $12.00 per hour.

At Waste Management, each eligible employee receives a competitive total compensation package including Medical, Dental, Vision, Life Insurance and Short Term Disability. As well as Stock Purchase Plan, Company match on 401k plan, Tuition Reimbursement and more! Our employees also receive Paid Vacation, Holidays and Personal Days. Please note that benefits may vary by site.

EOE M/F/D/V

Article source: http://www.careerboard.com/job/2798341-Oilfield-Services-Field-Technician.aspx

August 1st, 2012 | Posted in Jobs | Read More »

CBSRC-246-2064100A0 – Administrative Assistant

  • Advanced PowerPoint skills, including the demonstrated ability to build clear, highly effective presentations based on hand-drawn graphics and verbally communicated concepts

    Why join one great company when you can join many? We are more than 280,000 people with jobs that range from biochemist to finance specialist to wind energy engineer. We’re passionate about making life better with new ideas and technologies. We’re diverse, supporting our communities in more than 140 countries. Experience personal growth and competency development as part of the GE team. GE Energy is leading the field in the development, implementation and improvement of the products and technologies that harness our resources such as wind, oil, gas and water.

    GE Oil Gas is a world leader in advanced technology equipment and services for all segments of the oil and gas industry, from drilling and production, LNG, pipelines and storage to industrial power generation, refining and petrochemicals. GE Oil Gas also provides pipeline integrity solutions, including inspection and data management, and designs and manufactures wire-line and drilling measurement solutions for the oilfield services segment.

    GE Oil Gas exploits technological innovation from other GE businesses, such as aviation and healthcare, to continuously improve oil and gas industry performance and productivity. GE Oil Gas employs more than 33,000 people worldwide and operates in more than 130 countries.

    PLEASE NOTE: Strong candidate identified; qualified candidates are encouraged to post.

    To stay connected with exciting news and the latest job opportunities from GE AMSTC, Aviation, Energy and Transportation, follow us on twitter: @geconnections

  • Article source: http://www.careerboard.com/job/2795177-Administrative-Assistant.aspx

    August 1st, 2012 | Posted in Jobs | Read More »

    CBSRC-246-2064039A0 – Optical Product Manager

  • MBA preferred

    Why join one great company when you can join many? We are more than 280,000 people with jobs that range from biochemist to finance specialist to wind energy engineer. We’re passionate about making life better with new ideas and technologies. We’re diverse, supporting our communities in more than 140 countries. Experience personal growth and competency development as part of the GE team. GE Energy is leading the field in the development, implementation and improvement of the products and technologies that harness our resources such as wind, oil, gas and water.

    GE Oil Gas is a world leader in advanced technology equipment and services for all segments of the oil and gas industry, from drilling and production, LNG, pipelines and storage to industrial power generation, refining and petrochemicals. GE Oil Gas also provides pipeline integrity solutions, including inspection and data management, and designs and manufactures wire-line and drilling measurement solutions for the oilfield services segment.

    GE Oil Gas exploits technological innovation from other GE businesses, such as aviation and healthcare, to continuously improve oil and gas industry performance and productivity. GE Oil Gas employs more than 33,000 people worldwide and operates in more than 130 countries.

    To stay connected with exciting news and the latest job opportunities from GE AMSTC, Aviation, Energy and Transportation, follow us on twitter: @geconnections

  • Article source: http://www.careerboard.com/job/2795204-Optical-Product-Manager.aspx

    August 1st, 2012 | Posted in Jobs | Read More »

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