Tag: oil and gas

IR19

Top Oil Spill Solutions Providers in the World

Oil spill solutions: Market overview

In recent years, there has been a boom in oil exploration and production activities. Consequently, the oil spill hazards related to such operations have increased the importance and growth of oil spill solutions providers around the world. Oil spill solutions are a set of techniques or solutions that are used to minimize environmental damage caused by oil spills. They also contribute to reducing the financial loss to stakeholders involved in spills. Oil spills commonly occur during the transfer of oil to ships and the transportation of oil. Another notable cause of oil spill could be due to leakage in pipelines that carry the oil from sea to land. The growing concern against environmental damage caused by oil spills and the consequent government mandates for ensuring accountability of oil and gas companies with respect to controlling oil spills are also playing a key role in driving demand for oil spill solutions.

oil spill

Top oil spill solutions providers

Polyeco

 

The company was founded in the year 1977 and is currently headquartered in the UAE. They provide a full range of oil spill services including incident evaluation & consultation, spill management, technical support, response logistics, planning & admin, deployment/operation of equipment & management of waste. The Polyeco Group has developed its expertise over the years in more than 2,100 operations across the globe. The company not only offers the most extensive range of environmental services available but also responds promptly to any size emergency oil or HNS incident as well as process and treat any volume of waste.request proposal

Lamor

Lamor is a Finland based company that was established in the year 1982. The company’s oil spill solutions include a complete range of skimmers, oil booms, pumps, power packs, landing crafts, workboats, storage, and ancillary equipment. They have also invested significantly in R&D to discover new and effective oil clean-up solutions. Lamor has over the past 36 years developed its expertise in oils spill response and recovery, especially in the Arctic and offshore operations.     

NRC International

NRC International is the global leader in oil spill response, containment, and remediation. The company was established in the year 1992 and is currently headquartered in the US. In its rich history of 26 years, the company has contained and remediated over 1,000 oil spill incidents. Their emergency response network includes a workforce of over 1,250 personnel. NRC International operates from over 50 office locations in 13 countries worldwide, including in the United Kingdom, the Caspian and the Black Sea regions, the Mediterranean, the Middle East, and the Americas.Request Demo

Marine Pollution Control

Marine Pollution Control offers comprehensive environmental solutions that range from emergency response and clean-up to industrial maintenance and training. Founded in the year 1967 in Detroit, MPC has played important roles in many of modern history’s most serious pollution incidents.


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IR16

Global Oilfield Services: A Comprehensive Market Overview

What are oilfield services? 

Oilfield services (OFS) refer to all the services that support onshore as well as offshore oil and gas extraction and production processes. These services include identification of oil and gas reserves, drilling and formation evaluation, oil well construction, completion services, and oil and gas production. Oilfield services also include identification of oil and gas reserves, drilling and formation evaluation, oil well construction, completion services, and oil and gas production.

The good news for oilfield services companies is that the industry is expected to soar to greater heights and profitability in the years to come. In fact, the spend in this industry will rise at a rate of over 4%. (Source: Global Oilfield Services Market Intelligence Report). Here is a comprehensive oilfield services market overview that encapsulates various market factors and growth patterns that are likely to affect the oilfield services market in the next five years:Get Free Sample_SE

Oilfield services market overview 

Market insights

The gradual recovery of global oil and gas prices will be the major factor contributing to the growth of the oilfield services industry. In 2017, North America was the largest market for OFS. The demand for OFS from the shale industry was the major factor contributing to the demand from the region. Furthermore, with the rising demand for energy, especially from the APAC region, the consumption of oil and gas for power generation has increased. Factors such as growing population and industrial development are driving the need for energy is fueling the demand for oil and gas, which is a major raw material for power generation companies.

Procurement pain pointsSE banner Square

Procurement in the oilfield services market could often prove to be a difficult task. One of the major hindrance faced by oilfield services companies is that oil and gas E&P activities are subject to various regional and federal regulations. These regulations are affected by factors such as changing governmental policies. Buyers need to keep track of these changes to ensure suppliers’ compliance with the same. This is essential to ensure that suppliers do not face any regulatory actions that will affect the drilling schedule of buyers. Also, buyers can face regulatory actions in case of any non-compliance on the part of suppliers during operations at buyers’ facilities.

Pricing models

There are basically three types of pricing models in the oilfield services market:

  • Project-based model: In this model, buyers are charged a fixed amount for an entire project, and oilfield services companies provide all the services required for the project. The charges for these services do not vary during the service contract period. Buyers are charged additional fees for any additional services that are not part of the actual service agreement.
  • Cost-per-day model: In this model, buyers are charged based on the time during which oilfield services companies’ resources are utilized. This model is ideal for situations where consulting and advisory services are required as part of OFS. This model can also be used in case of drilling equipment rentals, where buyers need to rent equipment such as drilling rigs for a portion of the entire OFS operation.
  • Volume-based model: This model can be used in cases where procurement of products such as drilling fluids and OCTG is required. In this model, the prices are mutually agreed upon by the buyers and sellers for the duration of the contract period. The pricing is arrived based on pricing and demand forecasts. These prices include transportation and freight charges.

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Technological innovations

With the growing exploration of deep-water oil and gas reserves, increasing use of ROVs is observed. These devices enable drilling operators to access undersea locations that cannot be reached safely by divers and help perform inspection and repair of undersea structures and components. ROVs aid the development and maintenance of oil and gas resources in deep-water environments. They provide operators access to locations where divers cannot reach safely, helping them manage undersea operations such as inspection and repair of undersea components and structures at deep-water oil and gas sites.


SpendEdges’s latest report on the global oilfield services market provides in-depth insights on the procurement best practices, pricing insights, supply market insights, and top oilfield services companies.

 

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IR21

Top Oilfield Service Companies: Supply Market Intelligence

For years, the world’s largest oil producers have closely guarded their role as operators of their own fields. They believed that they alone could deliver the engineering necessary to extract their oil on time and on budget. Over time, this trend has witnessed a drastic change. Those producers have now been opting to manage their assets at arm’s length and allowing the highly sophisticated oilfield service companies to deliver cost-efficient production and oil-field innovation. However, the speed and manner in which this has occurred vary somewhat by geographic market (Source: Global Oilfield Services Procurement Report). Oilfield service companies provide the products and services necessary to construct, complete, and produce oil and gas wells. Oilfield service companies are expected to soar to greater heights in the years to come. Here are some of the top oilfield service companies in the market today:

oilfield

Schlumberger

Schlumberger is one of the largest oilfield service companies whose expertise lies in technologies such as drilling, reservoir characterization, production, and processing in the oil and gas industry. The company operates in over 85 countries around the world and offers a comprehensive range of products and services for activities ranging from exploration of oilfields to the production of oil and gas. Some of the key services provided by the organization include wireline services, drilling fluid systems, fishing services, Production testing and monitoring, and Subsea production services. The company which was founded in the year 1926, now employs a workforce of over 1,00,000 people.

IR21

Sourcing and Procurement Challenges in the Oil and Gas Industry

The oil and gas industry is recognized as the engine for development in most economies. However, the companies in this industry are known to operate in dynamic and complex environments, where they constantly face challenges, especially in terms of supply and demand. But in the current market scenario, it is advisable for companies in this sector to evaluate the supply chain, sourcing and procurement techniques, and costs. Furthermore, as the industry faces the likelihood of a long-term low-price environment, procurement teams need to look beyond short-term tactics and take a more proactive and strategic stance within their organizations—for example, working further upstream in project design and collaborating with the engineering and design teams to reduce complexity before it is locked into long-term procurement cost. Although the technology is helping oil and gas companies to find and extract more oil, there is a need to seriously consider more effective sourcing and procurement systems that provide additional real value. But the catch here is that the process is not easy as it sounds. Here are some of theSE_Demo2 key sourcing and procurement challenges in the oil and gas industry:

Locally sourced supplies

In many cases, there is a requirement for the oil and gas sector to award various contracts to local companies (i.e. tool and dye operations, pipefitters etc.). That requirement can be the result of government regulations, or due to location (oil and gas companies often work in remote locations and will deal with service companies located near their operations). But these contracts can often prove to be lucrative and are “sought after by local companies.” That competition can result in circumstances where there is a higher risk of bribery, fraud, corruption, and other abuses.

Single-supplier sourcing and procurement

There is a general tendency for oil and gas companies to purse sourcing and procurement contracts with sole suppliers. Sometimes, companies offer specialties and expertise that make sole-supplier sourcing and procurement a reality. However, this could lead to undisclosed conflicts of interest and kickback schemes. Additionally, in case the processes have not been conducted properly, financial losses can be incurred that can compromise the quality of goods and services provided.

Third-party companies

Companies in the oil and gas sector need to be aware when third-party companies specializing in sourcing and procurement, engineering, and construction management work on their behalf. The sourcing and procurement activities carried out by these firms are susceptible to improper practices, and companies may find themselves liable for the acts of third parties. Oil and gas companies that operate in remote locations may end up working with third-party sourcing and procurement companies. And in those remote locations, the difficulty in monitoring these companies is higher because they are often not connected to corporate systems and electronic controls.  Geographic isolation could further cause challenges and limit internal audit monitoring, thus paving the way for fraud, bribery, and corruption.


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IR2

Category Management Helps a Leading Natural Gas Provider to Increase Focus on Strategic Relationships

Overview of the natural gas industry

The global natural gas industry includes regional markets that are often clustered based on the historical patterns of transoceanic shipping and the primary supra‐regions for natural gas trades. Differences between sub‐regional and inter‐basin markets, or on the other hand, the extent of globalization, fluctuates with the sum total of natural gas transport across geographies.

The key end‐use industry that is driving continued growth in natural gas demand is the electric power industry. In this industry, natural gas has largely replaced oil and now is competing with coal. Furthermore, while gas pipelines will likely continue to increase global gas trade on connectable landmasses, the principal means for gas trade that connects continents, utilizes stranded resources, and supplies island markets are through LNG shipments. request free proposalThese are some of the foundational concepts driving the growth of the global natural gas sectors. 

However, a few factors are expected to impact the growth prospects of the global natural gas industry. One of the many factors include:

  • Innovation, optimization, and cost-cutting: A sense of firmness is compelling firms to get costs in line and find new efficiencies within the natural gas industry. Consequently, firms are starting to cut operating and capital budgets, with some reducing workforces and deferring growth plans. However, some of the most significant competencies are resulting from attention to project redesign and technological innovation.

Many such factors are compelling firms in the natural gas industry space to leverage the use of category management solutions. Through effective category management, organizations can build category relationships with customers and boost business performance across units. These solutions also help firms optimize cost structures, efficiency and, the effectiveness of their business.

The Business Challenge and Journey

Client background: The client is one of the first private players to have started supplying CNG (compressed natural gas) and PNG (piped natural gas).

Client issue: With the gradual deregulation and the growing demand for natural gas, all CGD companies initiated aggressive expansion plans, leading to a supply-demand mismatch in corresponding supplier markets. Additionally, retention of suppliers became a concern due to low volumes and reactive procurement practices.

To help the client increase focus on strategic relationships, the category management experts at SpendEdge tailored an all-inclusive research methodology. The research included primary and secondary research coupled with qualitative and quantitative data collection procedures. The experts also collected information from a wide array of proprietary sources such as paid industry databases, company presentations, and industry forums.

Client journey: The client identified and designated a few high spend categories across materials and services to devise a list of the best practices in category management. Apart from this, the client also identified the strategic and tactical opportunities to create value within the procurement process.

Key questions answered in this category management engagement

The Results

With the help of category management solution offered by SpendEdge, the natural gas provider improved supplier selection decisions and reduced source-to-pay cycle times. Additionally, the client was suggested with improvements to the overall strategic sourcing approach, tendering process, and related tools. This helped them achieve 5% in savings.

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IR31

Category Management Helps a Natural Gas Industry Client Reduce Source-To-Pay Cycle Times

Overview of the Oil and Gas Industry

The global natural gas industry comprises of regional markets that are often grouped based on the historical patterns of transoceanic shipping or the primary supra‐regions for natural gas trades. Distinctions between inter‐basin and sub‐regional markets, or on the other hand the extent of globalization, differ with the amount of natural gas transport across the globe. 

The key end‐use sector that is driving continued growth in natural gas demand is the electric power sector, in which natural gas is largely replaced oil and is successfully competing with coal. Moreover, while gas pipelines will likely continue to increase worldwide gas trade on connectable landmasses, the principal means for gas trade that connects continents, utilizes stranded resources, and supplies island markets are through LNG shipments.  These are foundational concepts driving the growth of today’s global natural gas industry.  

Let’s take a look at one of the critical factor that is expected to influence the growth prospects of the natural gas industry in the coming years.

  • Cost Cutting, Optimization, and Innovation: Within the natural gas industry, a sense of firmness is compelling firms to get costs in line and find new efficiencies. As a result, firms are starting to cut capital and operating budgets, with some reducing workforces and deferring growth plans. However, some of the biggest competences are resulting from attention to technological innovation and project redesign

As a result of these types of challenges, firms operating in the natural gas industry space are leveraging the use of category management solutions. The category management solutions help firms in this space to optimize cost structures, efficiency and, the effectiveness of businesses. request free proposalThese solutions also help companies build category relationships with customers and boost business performance across business units.

The Business Challenge and Journey

The client, a leading natural gas industry client was facing supply-demand mismatch in supplier markets. Also, retention of suppliers became a concern due to low volumes and reactive procurement practices.

To help the client advocate best practices in category management, the experts at SpendEdge tailored a comprehensive research methodology. The research approach comprised of primary and secondary research coupled with qualitative and quantitative data collection procedures.

During the course of this category management engagement, the natural gas industry client was able to select the high spend categories across services and materials to implement the best practices in category management. The client also identified the right strategies and tools that could address business imperatives tied to the categories. Furthermore, they identified strategic sourcing, supplier relationship management and procurement transformation as strategic opportunities for value creation within the procurement function.

Key questions answered in this category management engagement

The Results

With the help of this category management engagement, the client improved supplier selection decisions and reduced source-to-pay cycle times, resulting in additional 3% savings.

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IR17

Top Challenges in the Refinery Catalysts Market

Refinery catalysts are predominantly used in petroleum refineries to alter the rate of chemical reactions and enhance the quality of gasoline products produced through processes such as FCC and hydro-processing. Petroleum refineries extensively use refinery catalysts to enhance the operational efficiency of valuable hydrocarbons. Additionally, they also minimize the adverse effects of products such as gasoline and diesel on the environment by assisting in the removal of sulfur from crude oil. In petroleum refineries, they are used in hydrocracking, hydrotreating, fluid catalytic cracking, and alkylation processes. The procurement market intelligence report on refinery catalysts market states that the market growth will be driven by demand for ultra-low sulfur diesel. This is because governments across the world are prompting refineries to limit sulfur content to 0.5% by 2020 in fuels.

Request Free SampleChallenges in the Refinery Catalysts Market

Costly E&P Activities

E&P activities for crude oil are costly as it requires the use of advanced technologies for conducting essential processes such as wireline logging, seismic mapping and survey, and drilling (vertical or horizontal). Because of this E&P companies are operating at a razor-thin margins and are operating in a highly unstable financial environment. The increasing cost of E&P activities is affecting the production capacity of the refineries, which is posing a challenge to the global refinery catalyst market.

Adoption of Renewable Sources of Energy

Today, the whole world is moving towards renewable sources of energy. Governments are investing heavily in hydro, wind, and solar energy sources to decrease their dependence on fossil fuels. The most significant oil producers in the Middle East are also investing heavily in solar energy. Additionally, the emergence of electric car companies like Tesla has urged the governments to prioritize electric vehicle over gasoline. The growing importance of renewable sources of energy is thereby limiting the growth of the global refinery catalysts market.

Rising Cost of Rare Earth Elements

Oxides of rare earth elements are quintessential in the refinery process as zeolite cracking catalysts lack hydrothermal stability during the FCC process. The use of zeolites with rare earth elements provides hydrothermal stability and tends to enhance gasoline yield. However, such rare earth elements are sparsely available, and their costs are ever-increasing. The rising costs of rare earth elements have limited the growth of the global refinery catalyst market.

Read more about the challenges in the refinery catalysts market along with specialty chemicals, oil refinery process, sourcing strategies, pricing models, logistics and supply chain issues, and procurement best practices in SpendEdge’s upcoming report on the global refinery catalysts market.

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