Journalism Division Society of Petroleum Engineers Institut Teknologi Sepuluh Nopember Student Chapter
OCTOBER 2019 Vol.
02
PetroJournal OIL RISES AND ECONOMIC FEARS
FINANCE: CONOCO GENERATES ALMOST $1 BILLION OF FREE CASH FLOW IN Q3
Oil Rises and Economic Fears Oil trades higher after a US crude stockpile draw coupled with an outage at a key North Sea pipeline tempered weak economic data. Crude surged 2.7%, the biggest number since Saudi Arabia’s energy facilities were attacked in mid-September. The pressure still continues since the prolonged trade dispute between Beijing and Washington that dents global demand. This makes The Organization of Petroleum Exporting Countries and its partners to consider cutting production further.
UPCOMING HIGHLIGHTS - BoC Upgrading (15 Nov) - inSPEct: ExxonMobil Cepu (20 Nov) - Softskill Course: SMASH Your Interview! (22 Nov) - Science Course 2 (29 Nov)
FINANCE: Conoco Generates Almost $1 Billion of Free Cash Flow in Q3 Despite lower crude prices, shares dropped 2.2% to $54.45, and the prolonged sleepwalking economy crisis, ConocoPhillips posted almost $1 billion of free cash flow as the world’s largest independent oil producer. Conoco’s cash was boosted by about $100 million from Venezuela’s state-owned producer, part of a long-running legal settlement after the state nationalized its assets more than a decade ago.
Demand woes still persist in Asia, the biggest consumption center for oil. Imports of US’s foreign oil slid to the lowest in more than two decades. South Korea’s economy grew at a slower pace in the Q3, while China reported a slump in the pace of economic growth to the lowest since the early 1990s. (Bella)
Conoco, which was forced into a painful dividend cut during the 2014 until 2016 oil price crash, is trying to position itself as a steady cash generator by focusing on returns to investors over production growth. Besides getting a high proportion of its oil from assets in Alaska, Asia and the Middle East that have production that’s declining relatively slowly, they’re also focused on growing its shale output, especially in the Eagle Ford and Permian Basin. Unconventional production rose 21% to 379,000 bpd only in a year. (Bella)
Source: https://www.worldoil.com/news/2019/10/24/oil-rises-after-stock-draw-pipeline-outage-temper-economic-fears
Source: https://www.worldoil.com/news/2019/10/29/conoco-generates-almost-1-billion-of-free-cash-flow-in-q3
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Pertamina Cimahi Pipe Fire Allegedly Caused by a High-Speed Train Project Drill Competition 101 - 4 Oct
Donation for Kalimantan and Sumatera forestfire victim - 9 Oct (Left) Soft Skill Course with Dr. Hamidah M.Si.psi : Confront Your Stress Triggers - 11 Oct (Right) Open booth at Ocean Heritage of Ocean Engineering Exhibition and Competition 2019 - 20 Oct
INSPECT : PT PGN SAKA Gresik and PT Energi Nusantara Perkasa - 23 Oct
The Fire incident is estimated to occur on Tuesday (10/22/2019). During the incident, Pertamina immediately closed the Pertamina Dex flow from the pipeline on the 130-800 Km Toll Road so that the fire would not spread. Pertamina ensures that the burning pipes flow through Pertamina Dex fuel oil. Pertamina conducted the blackout by brought in several fire fighting units and a team to tame the fire that burned the pipe. The incident was indeed close to the Jakarta-Bandung fast train project. But the company did not dare to conclude whether the fire had something to do with the project or not. Pertamina ensured that the supply of fuel in Bandung and its surroundings was safe. The cause of the fire is currently under investigation. (Diandra)
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Halliburton’s Spectrum Real-Time Coiled Tubing
PHOTO: https://www.worldoil.com/news/2017/3/21/halliburton-introduces-new-real-time-coiled-tubing-services
PetroJournal
Introduced in 2016, Halliburton’s Spectrum Real-Time Coiled Tubing Services comprises two complementary offerings: Spectrum Diagnostic Services and Spectrum Intervention Services. These services integrate Halliburton’s coiled tubing with down-hole measurement tools, fiber optic sensing and telemetry, to deliver complete, accurate real-time data. Spectrum Diagnostic Services delivers fiber-optic distributed sensing through coiled tubing to assess well productivity and completions effectiveness by identifying fracture initiation points across the wellbore and profiling production. An alternative to scspeits@gmail.com
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. traditional production logs, Spectrum Diagnostic Services can monitor a time series of data across the entire wellbore as opposed to single snapshots in time. Applications for Spectrum Diagnostic Services include determining stimulation cluster efficiency, fracture mapping, production profiling, leak detection, and wellbore integrity. Spectrum Intervention Services delivers real-time monitoring from a bottom-hole assembly, with modular sensors for measuring depth correlation with casing collar locator and gamma ray, internal and external pressure and temperature, tool inclination, torque, tension, and compression.
Compared to standard operations where only surface parameters are available, downhole insight from Spectrum Intervention Services helps reduce operational risk and increase precision to deliver better wells. These services have multiple applications, including milling, wellbore cleanouts, fishing, perforating, stimulation, and completion equipment manipulation. These services are designed for customers seeking to increase returns on every well. Spectrum Real-Time Coil Tubing Services enables customers to improve connectivity to the reservoir and reduce uncertainty. (Bella) Source: https://www.halliburton.com/en-US/news/announcements/ halliburton-introduces-spectrum-real-time-coiled-tubing-services.html
Natural Gas Processing
MIND SPLASH What is Natural Gas? It is a naturally occurring mixture of hydrocarbon gases that is highly compressible and expansible. When natural gas is produced from an underground reservoir, it is saturated with water vapor and might contain heavy hydrocarbon compounds as well as nonhydrocarbon impurities. Nonhydrocarbon gas impurities that do not burn in natural gas are called inerts which decrease the heat content of natural gas, they decrease the value of the gas.
a relatively low - value material since, in its native state, it is rarely usable directly. Raw natural gas must be processed to meet the trading specifications of pipeline and distribution companies. It is carried out to remove impurities from the gas and the desirability of increasing liquid product recovery above that obtained by conventional gas processing. (Deandra)
Why Field Processing? Crude petroleum as it is produced from the field is Source: Academia Department of Society of Petroleum Engineers (SPE) ITS SC
HALLIBURTON
Founded in 1919, Halliburton celebrates its 100 years of service as one of the world's largest providers of products and services to the energy industry. Halliburton comprises 14 product service lines (PSLs). The PSLs operate in two divisions: Drilling and Evaluation, and Completion and Production. The Drilling and Evaluation consists of Baroid, Drill Bits & Services, Landmark, Sperry Drilling, Testing & Subsea, and Wireline & Perforating. The Completion and Production consists of Artificial Lift, Cementing, Completion Tools, Multi-Chem, Pipeline & Pipeline Services, Production Enhancement, and Production Solutions. (Bella)
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INSPIRE ZONE
Do You Know? Products like fertilizers, plastics, car tires, ammonia, perfumes and even bubble gum are synthesized using petroleum products obtained during the crude oil refining process. (Bella)
Contact person: Instagram : @ipfest2020 Line : @ipfest2020 LinkedIn : Integrated Petroleum Festival
Integrated Petroleum Festival 2020 by SPE ITB SC Smart Competition Mud Innovation Competition Oil Rig design competition Geothermal Case Study Competition Business Case Competition Paper and Poster Competition Plan of Development Competition
In 1997, he felt that he would miss out on the economic opportunities that the internet was bringing, so he found the Alibaba Group, which launched a website that facilitated a small-business-to-small-business internet market. In 2014, Alibaba Group reached the largest IPO ever in history at that time for any internet company. In September 2018 it was announced that Ma would step down as chairman of Alibaba Group to remain on the board. (Deandra)
WE JOURNALISM Salsabiella Ramadhanti Head of Journalism
Adisya Salsabila Journalism Chemistry 2018
Engineering Physics 2017
(Adisya)
What does it mean by sour crude oil and sweet crude oil? PetroJournal
Ma Yun or usually called as Jack Ma was born on 1964. He was the head of Alibaba Group which is a Chinese multinational conglomerate holding company specializing in e-commerce, retail, internet and technology. He was graduated with a bachelor’s degree in English, then he taught English at the Hangzhou Institute of Electronics and Engineering. After five years teaching, Jack Ma founded his first company, the Haibo Translation Agency which provided English translation and interpretation.
Diandra Sakinah Journalism
Deandra Salma Journalism
Ocean Engineering 2018
Industrial Engineering 2018
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