PETRO JOURNAL
DECEMBER 2018 EDITION JOURNALISM SPE ITS SC 2018/2019
Monthly Recap
Flash News
Company Profile
Flash Course Competition Info Heroes on Competition
INDEX
SPECTRE 1.0 : SPE Stock Exchange Trainee This event held by Soft Skill Division. These course gave you a brief introduction and knowledge on investment and financial management through stock exchange as well as their importance
WA-101, Marine Engineering December 7th, 2018
Oil Rig Design Competition Workshop “Oil Rig Design Competition Workshop" from Competition Development Division with Abhista Daniswara as our speaker. The event itself takes place at ITS Library 1st floor.
ITS Library 1st floor December 1st, 2018
MONTHLY RECAP
FLASH NEWS
Oil edges up as investors latch on to OPEC cuts, supply outlook PUBLISHED MON, JAN 21 2019 • 5:28 AM EST | UPDATED MON, JAN 21 2019 • 3:53 PM EST
Oil prices edged up on Monday, reversing earlier losses, as investors shrugged off data that confirmed China’s economic growth is cooling and instead latched on to positive supply-side drivers for the market. Brent crude oil futures were up 12 cents at $62.83 a barrel by 3:23 p.m. EST versus Friday’s settlement price, while U.S. crude futures were up 19 cents to $53.99 a barrel. The U.S. financial markets are closed on Monday for the Martin Luther King Jr. Day holiday. Global equities fell after data pointed to a slowdown in Chinese economic growth in 2018 to a 28-year low. The numbers fed concern that the outlook for global growth may be darkening, particularly given U.S.-China trade tensions. “It remains quite likely that the trade spat with the U.S. has played a part in this latest slowdown,” CMC Markets chief market analyst Michael Hewson said. “But investors should also factor in that it simply isnt possible for the Chinese economy to grow at the pace that it has over the last 10 years, in the next 10 years.”
FLASH NEWS
Stock markets are still up so far this month, which has given oil investors more confidence to bet aggressively on a rise in crude prices. Analysts said a more robust backdrop for financial markets and the prospect of slower crude production growth were the major drivers behind the rally in oil. “The stock market performance is one of the reasons why oil keeps marching higher. There also seems to be a general belief that the agreed cut in OPEC+ production will be sufficient to balance the market,” PVM Oil Associates said in a note. While there is concern that a slowing global economy could impact oil demand, production cuts implemented by the Organization of the Petroleum Exporting Countries are likely to support crude oil prices, analysts said. You can’t justify oil prices at these levels. We’re looking basically at an average of almost $70 a barrel for Brent in 2019,” ING commodities strategist Warren Patterson said. “I am getting increasingly concerned about how tight the market will be going into 2020.” A separate report from China’s National Bureau of Statistics showed crude oil refinery throughput in 2018 climbed to a record 12.1 million barrels per day, up 6.8 percent from the previous year. In the United States, energy companies cut the number of rigs drilling for oil by 21 last week, the biggest decline in three years, taking the count down to 852, the lowest since May 2018, energy services firm Baker Hughes said on Friday.
Source: https://www.cnbc.com/2019/01/21/oil-markets-china-economy-opec-in-focus.html
COMPANY PROFILE
The Royal Dutch Shell plc, incorporated on February 5, 2002, explores for crude oil and natural gas around the world, both in conventional fields and from sources, such as tight rock, shale and coal formations. The Company works to develop new crude oil and natural gas supplies from various fields. The Company's segments include Integrated Gas, Upstream, Downstream and Corporate. The Integrated Gas segment is engaged in the liquefaction and transportation of gas and the conversion of natural gas to liquids to provide fuels and other products, as well as projects with an integrated activity, ranging from producing to commercializing gas. The Upstream segment includes the operations of Upstream, which is engaged in the exploration for and extraction of crude oil, natural gas and natural gas liquids, and the marketing and transportation of oil and gas, and Oil Sands, which is engaged in the extraction of bitumen from mined oil sands and conversion into synthetic crude oil. The Downstream segment is engaged in oil products and chemicals manufacturing, and marketing activities.
PHOTO: WIKIMEDIA
The Company cools natural gas to produce liquefied natural gas (LNG) that can be safely shipped to markets around the world, and it converts gas to liquids (GTL). The Company Tmarkets and trades crude oil, natural gas, LNG, electricity and carbon-emission rights, and also markets and sells LNG as a fuel for heavy-duty vehicles and marine vessels. The Company sells various products, such as gasoline, diesel, heating oil, aviation fuel, marine fuel, lubricants, bitumen and sulfur. In addition, it produces and sells petrochemicals for industrial use across the world. The Company's oil and gas exploration and production activities are located in various regions of the world, such as Albania, Bulgaria, Denmark, Germany, Ireland, Italy and Norway in Europe; China, India, Indonesia, Iraq, Jordan, Malaysia, Mongolia, Myanmar, Qatar, Russia and Turkey in Asia; Australia and New Zealand in Oceania; Algeria, Egypt, Gabon, Kenya, Nigeria and Tunisia in Africa; Canada, Honduras and the United States in North America, and Argentina, Brazil, Colombia and Bolivia in South America.
COMPANY PROFILE
PHOTO: BRITISH PETROLEUM
The Company's plants produce a range of base chemicals, including ethylene, propylene and aromatics, as well as intermediate chemicals, such as styrene monomer, propylene oxide, solvents, detergent alcohols, ethylene oxide and ethylene glycol. The Company's Oil Products activities comprise Refining and Trading, and Marketing. The Marketing business includes Retail, Lubricants, Business to Business (B2B), Pipelines, and Biofuels and alternative energies. The Chemicals business has various manufacturing plants, located close to refineries, and its own marketing network. In Trading and Supply, it trades crude oil, oil products and petrochemicals, to optimize feedstocks for Refining and Chemicals, to supply its Marketing businesses and third parties, among others. The Company produces, markets and sells lubricants for passenger cars, motorcycles, trucks, coaches and machinery used in the manufacturing, mining, power generation, agriculture and construction sectors. Through its marine activities, it primarily provides lubricants, as well as fuels and related technical services, to the shipping and maritime sectors. The Company's B2B activities encompass the sale of fuels and specialty products and services to a range of commercial customers.
FLASH COURSE
5 Predictions for the Global Energy Storage Market in 2019 From our annual Energy Storage Summit, a recap of 2018 market trends and a look at key trends for next year. JEFF ST. JOHN DECEMBER 11, 2018
2018 has been a big, yet bumpy, year for the U.S. energy storage market. We've seen huge increases in behind-the-meter installations in homes and businesses, but also supply bottlenecks and policy uncertainties that restrained larger-scale battery installations. How are these trends likely to play out next year? That’s the topic that Ravi Manghani, energy storage research director at Wood Mackenzie Power & Renewables, took up in Tuesday’s opening presentation at Greentech Media’s annual Energy Storage Summit in San Francisco. Manghani sketched out the key developments of 2018, and made five “bold and not-so-bold” predictions for what will be different in 2019. The first is that utility-scale energy storage installations, after seeing a drop in the first three quarters of 2018 compared to last year, will pick up again next year. As Manghani noted, the front-of-meter battery market is inherently a lumpy one, with one or two massive projects dominating annual figures. But there’s also been a policy issue holding up utility-scale storage this year, Manghani said. The uncertainty over how the nation’s grid operators are going to implement Federal Energy Regulatory Commission (FERC) Order 841, approved in February, has stalled projects. Order 841 broadly directs grid operators to create market mechanisms that accommodate batteries’ unique abilities to both charge and discharge from the grid, and ramp up and down at speeds that traditional generators can’t match. But the details of how each ISO and RTO plans to implement FERC’s requirements has been the subject of much debate in the energy industry, as we’ve noted in ongoing coverage of the various straw proposals coming out over the past few months.
FLASH COURSE
The second prediction for 2019 is bolder than the first — the observation that the record for solar-plus-storage deployments in 2018 will be broken yet again in 2019. That’s based on the forecast for falling solar and battery prices, combined with a continuation of the federal Investment Tax Credit for solar that can include the cost of batteries as part of the installation. This year has already seen records broken for solar-plus-storage power-purchase agreements, Manghani said. Xcel Energy in Colorado saw bids for solar-plus storage at $36 per megawatt-hour, compared to $25 per megawatt-hour for standalone solar, and NV Energy has seen even lower bids in its solar and solarplus-storage RFPs. That equates to about a $6 to $7 per megawatt-hour premium for solar projects that are partially dispatchable — if not completely dispatchable in the manner of a power plant. By 2023, when the ITC window closes, the levelized cost of energy (LCOE) of combined solar-storage projects will put them in direct competition with traditional generators, Manghani said. The push for longer-duration solar-plus-storage is also being driven by some key corporate efforts, such as Microsoft’s proxy generation PPA or Google’s 24x7 clean generation initiative for its data centers, that are trying to align their demand to their renewable energy portfolios.
FLASH COURSE
This also feeds into Manghani’s third prediction: that natural gas-fired peaker plants, already a dying breed in storage-rich markets like California, will continue to “lose favor” in 2019. Wood Mackenzie Power & Renewables projects that up to 6.4 gigawatts of future peaker capacity, or about 32 percent of what the U.S. is projected to need by 2026, could be at risk from energy storage with durations of four hours or greater — and that’s with relatively conservative projections of 6 to 8 percent decreases in energy storage costs annually over that time. If one takes more aggressive estimates of 10 to 12 percent declines every year through 2026, the share of new peaker plant capacity taken by batteries could rise to as much as 80 percent, he said. Manghani’s fourth prediction is centered on one of the industry’s roadblocks this year: the supply chain shortages that have slowed growth in the commercial and industrial behind-the-meter sector. Two key trends are driving this shortage — a temporary bottleneck in manufacturing capacity and the rising global price of cobalt, a key ingredient of many higher energy density lithium-ion battery chemistries, such as lithium nickel manganese cobalt oxide and lithium nickel cobalt aluminum oxide. These batteries are particularly favored for the electric vehicle industry for their higher energy density. Since EVs are driving the battery market, battery manufacturing took up nearly half of global cobalt production in 2017. Consequently, cobalt prices more than doubled from 2016 to 2017.
FLASH COURSE
FLASH COURSE
While Wood Mackenzie predicts that cobalt prices will decline over the next two years, the current price spike has focused attention on lithium-ion chemistries that don’t require cobalt, such as lithium iron phosphate (LFP), lithium manganese oxide and lithium titanate. Manghani predicted that LFP, the most common of these chemistries, will retake its former place as the lithium-ion chemistry of choice for the energy storage industry in 2019. Wood Mackenzie Power & Renewables projects that up to 6.4 gigawatts of future peaker capacity, or about 32 percent of what the U.S. is projected to need by 2026, could be at risk from energy storage with durations of four hours or greater — and that’s with relatively conservative projections of 6 to 8 percent decreases in energy storage costs annually over that time. If one takes more aggressive estimates of 10 to 12 percent declines every year through 2026, the share of new peaker plant capacity taken by batteries could rise to as much as 80 percent, he said. Manghani’s fourth prediction is centered on one of the industry’s roadblocks this year: the supply chain shortages that have slowed growth in the commercial and industrial behind-the-meter sector. Two key trends are driving this shortage — a temporary bottleneck in manufacturing capacity and the rising global price of cobalt, a key ingredient of many higher energy density lithium-ion battery chemistries, such as lithium nickel manganese cobalt oxide and lithium nickel cobalt aluminum oxide. These batteries are particularly favored for the electric vehicle industry for their higher energy density. Since EVs are driving the battery market, battery manufacturing took up nearly half of global cobalt production in 2017. Consequently, cobalt prices more than doubled from 2016 to 2017.
Source: https://www.greentechmedia.com/articles/read/five-predictions-for-the-globalenergy-storage-market-in-2019#gs.KmYBvHaJ
COMPETITION INFO
COMPETITION INFO
[Call for Delegates : BOREYES 2019] Greetings, future delegates! “When Somebody Challanges You, Fight Back. Be Brutal, Be Tough". Early Bird Registration of BOREYES 2019 already open! BOREYES International Fair 2019 is an annual International Petroleum competition-based event held by Society of Petroleum Engineers Padjajaran University Student Chapter (SPE UNPAD SC). Here are the step to register: 1. Open the competition link 2. Fill all the needed team information 3. Complete the pre-registration fee Rp.150.000/team by transfer to rek.BNI 0730092854 a.n Ratih Purwaningsih 4. Upload the picture of payment recipe and upload the abstract/blueprint/essay to registration form 5. Click submit 6. Wait the announcement of the selected team until february 12, 2019 Here are the competition link: - Paper comp: http://bit.ly/PaperCompBoreyes - Case study: http://bit.ly/CaseStudyBoreyes - Smart Comp: http://bit.ly/SmartCompBoreyes - ORD Comp: http://bit.ly/OrdComoBoreyes Early Bird Registration will be open until january 21, 2019 Please Fill in the form below : http://bit.ly/SPEDelegates
For the booklet, invitation letter, finance guidance book, and Modul you can download it from the URL below : 1. http://bit.ly/InvitationLetterBoreyes2019 2. http://bit.ly/Financeguidebook 3. http://bit.ly/DelegatesModule DISCLAIMER : Registration without acknowledgement of SPE ITS SC will be considered unofficial delegation. Support SPE ITS SC will only be given to official delegation For further information, please feel to contact the person below : Line ID : adamrangga Phone : +628561121996
HEROES ON COMPETITION
We are glad to announce that SPE ITS SC Delegates, "ARINEE TEAM" 1. Rafly Rama Putra - 04211640000116 2. Frankie Samuel Marcelo - 04311540000140 3. Ferrel Hamonangan - 0221740000076 4. Novita Nur Jayanti - 08411740000011 has won the 1st runner up Winner of Oil Rig Design Competition at Pelantar 2018. Thank you for your great effort and huge contribution, delegates. Cheers to many more achievements to come!
"Success is not final, failure is not fatal: It is the courage to continue that counts"
Sir Winston Leonard Spencer-Churchill Former UK Prime Minister
PHOTO: SEEKING ALPHA
There are enough oil reserves to meet about 53 years of global production . Unless we magically stumble upon better energy options that are easier to access, we will be dependent on oil and gas for the foreseeable future. 53 years may sound like a scarily low number, but rest assured that we have a lot more “gas left in the tank.� In the past decade, global oil reserves have increased by a whopping 27%, and the drilling efforts of experienced professionals like you are adding to those totals every day.
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