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Enregistrement W1979784210 · doi:10.2118/0109-0016-jpt

Comments: The Long-Term View

2009· article· en· W1979784210 sur OpenAlexaboutno aff
John Donnelly

Notice bibliographique

RevueJournal of Petroleum Technology · 2009
Typearticle
Langueen
DomaineEnergy
ThématiqueGlobal Energy and Sustainability Research
Établissements canadiensnon disponible
Organismes subventionnairesnon disponible
Mots-clésOil sandsDebtPetroleum industryInvestment (military)Market liquidityBusinessFinancePetroleumDatabase transactionEconomicsEconomyMonetary economicsEngineeringGeographyPolitical science

Résumé

récupéré en direct d'OpenAlex

Editor's column The landscape has certainly changed as the oil and gas industry heads into a new year. Last year was one of the most volatile on record for oil prices, which rose to more than USD 145/bbl at mid-year before losing two-thirds of that value by last month. The new year begins with uncertainty as prices continue to fluctuate and the crisis in the credit market has dried up financing. Already, some projects have been delayed or are being re-evaluated, and operators are renegotiating contracts with service companies. Anecdotal evidence suggests a pullback in upstream activity, particularly for less conventional plays, as could be expected. Canada's Nexen is scaling back investment in its Long Lake oil sands project in Alberta and Shell has announced that it is also delaying some Canadian oil sands development. The Canadian Association of Petroleum Producers has cut its forecast for medium-term oil sands output because of these and other expected delays. Large Russian companies, and others that rely heavily on debt financing, have been affected as well. The collapse in the credit market has created liquidity challenges for smaller-capitalized oil and gas firms, and merger and acquisition activity is down sharply. The first half of 2008 witnessed a minor decline in transaction activity year on year, reports Ernst & Young, while the second half saw a more marked 30% decline. A survey by the consultancy showed that more than 70% in the industry believe it will be another year before merger and acquisition activity heats up again. Global demand will likely continue to contract. The US Department of Energy predicts that demand will fall this year as well as last, marking the first time in 30 years that demand has fallen for consecutive years. Demand fell by 50,000 BOPD last year and will drop as much as 450,000 BOPD this year, the agency says. But the long-term outlook does not look much different than it did a year ago. The current downturn is demand-driven while the long-term supply picture remains challenging. As several speakers noted during the recent International Petroleum Technology Conference in Kuala Lumpur, the underlying industry fundamentals remain strong, and the industry will remain hard-pressed to meet rising world demand, especially from emerging countries. ExxonMobil's latest Outlook for Energy: A View to 2030 predicts that global energy demand will increase by an average of 1.2% a year to 2030, with oil, gas, and coal meeting the vast majority of that demand. The real danger of this downturn is that it cancels or delays much investment in upstream projects and research and development, and that when global demand recovers, the industry will be straining to catch up after months of underinvestment. The industry's aging upstream profile and declining reserves replacement rate has not changed. From a historical perspective, USD 40/bbl oil—although only a third of its value at the mid-point of last year—is still on the high side. It was only a few years ago that OPEC's target price was USD 28/bbl, and from 1990 to 2004, oil prices drifted in a USD 20-30/bbl range.

Récupéré en direct depuis OpenAlex et désinversé. Les résumés ne sont pas conservés dans cette base de données : les index inversés représentent 8,6 Go des 9,3 Go de texte de la base, et le serveur dispose de 13 Go libres.

Comment cette classification a été obtenuedéplier

Prédiction distillée sur la base complète

Imitation des enseignants

Ni prévalence calibrée, ni vérité terrain. Validation humaine à venir. Apprise à partir de 10 348 étiquettes directes de Codex et de 10 348 étiquettes directes de Gemma. Le mode candidate est l'union des têtes enseignantes seuillées; le consensus est leur intersection. Ces sorties portent le statut machine_predicted_unvalidated et ne sont ni des étiquettes humaines ni des étiquettes directes de modèles de pointe.

score de la tête « metaresearch » (Codex)0,001
score de la tête « metaresearch » (Gemma)0,000
Version: codex-gemma-dda1882f352aStatut de validation: machine_predicted_unvalidated
Catégories candidatesaucune
Catégories consensuellesaucune
DomaineSignal candidat: aucune · Signal consensuel: aucune
Devis d'étudeSignal candidat: Théorique ou conceptuel · Signal consensuel: aucune
GenreSignal candidat: Empirique · Signal consensuel: Empirique
Score de désaccord entre enseignants0,638
Score d'incertitude au seuil0,320

Scores Codex et Gemma par catégorie

CatégorieCodexGemma
Métarecherche0,0010,000
Méta-épidémiologie (sens strict)0,0000,000
Méta-épidémiologie (sens large)0,0000,000
Bibliométrie0,0000,000
Études des sciences et des technologies0,0000,000
Communication savante0,0000,000
Science ouverte0,0010,000
Intégrité de la recherche0,0000,001
Charge utile insuffisante (le modèle a refusé de juger)0,0000,000

Scores machine (provisoires)

Les deux têtes enseignantes du modèle étudiant, lues sur ce travail. Un score ordonne la base pour la relecture; il n'affirme jamais une catégorie, et le statut de validation accompagne chaque rangée tel quel.

Scores de référence d'un modèle non mature (critères de maturité non atteints, 7 itérations). Un score ordonne; il n'affirme jamais une catégorie.

Tête enseignante Opus0,011
Tête enseignante GPT0,291
Écart entre enseignants0,280 · la distance entre les deux têtes enseignantes sur ce seul travail
Statut de validationscore_only:v0-immature-baseline · tel quel depuis la passe de notation : score_only signifie que le nombre peut ordonner les travaux, et qu'aucune étiquette de catégorie n'en découle

Classification

machine, non validée

Prédiction automatique; un appel candidat d’une seule tête enseignante, pas un consensus.

Les modèles n’ont appliqué aucune catégorie : rien dans la taxonomie ne correspondait à ce travail.
Devis d'étudeThéorique ou conceptuel
Domainenon disponible
GenreEmpirique

Le détail, modèle par modèle et score par score, se trouve en fin de page sous « Comment cette classification a été obtenue ».

En bref

Citations0
Publié2009
Routes d'admission1
Résumé présentoui

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