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Issue Contents


Volume 14, Issue 6
Published: October 29, 2018
A new energy chapter

Positive supply and demand dynamics for oil & gas are supporting the need for significant investments – of almost $11 trillion – across the entire industry up to 2040. Jasmin McDermott reports

Balance and stability have returned to global oil markets, bringing a greater degree of optimism to the industry, as well as an increase in investments.
OPEC’s 2018 World Oil Outlook paints a picture of sustainable stability and heralds a new chapter in the industry, driven by the organisation and its non-OPEC partners.
The 412-page document examines how developments in the global economy, energy demand, oil supply and demand as well as policy and technology developments and environmental considerations are having an impact on the industry.
Thanks to strong growth in emerging and developing economies, the size of the global economy in 2040 is estimated to be more than double that of 2017, with China and India playing a significant role in this growth.
This, coupled with an expanding global population and efforts to reduce energy poverty, means that energy demand is expected to increase by 33% between 2015 and 2040. The document’s Reference Case projects energy demand increasing from 274 million barrels of oil equivalent a day (mboe/d) to around 365 mboe/d in 2040, with an average annual growth of 1.2% per annum. Almost 95% of this increase is accounted for be developing countries, with an annual average growth of 1.9%.
Primary energy demand in China and India is the most significant contributor to overall energy demand growth, with energy demand in developing countries overall projected to increase by almost 86 mboe/d between 2015 and 2040.

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A different demand outlook
The emergence of new technology as well as greater legislative emission controls will create a very different supply and demand picture for oil and gas markets, according to Charles Daly Forecasts are usually wrong or lucky...
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A next generation storage terminal
Dutch-based Alpha Terminals is building a new liquid bulk storage terminal in North Sea Port to prepare for significant changes in the European market Over the next decade, the European energy market will experience significant changes that will alter demand for the type of logistics infrastructure needed in the supply chain...
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A new energy chapter
Positive supply and demand dynamics for oil & gas are supporting the need for significant investments – of almost $11 trillion – across the entire industry up to 2040...
To read this article in full, subscribe now >
Adding value to niche terminals in Europe
Newcomer Atlha Terminals wants to create a European network of up to ten niche storage terminals that play a crucial role in the regional supply chain Strong and stable economic conditions coupled with a flourishing petrochemicals market and healthy energy demand makes Europe an attractive location to develop and invest in storage terminals...
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IMO: how will key international bunkering hubs survive?
With less than 14 months until the International Maritime Organisation’s sulphur fuel cap regulation is enacted, reducing the sulphur content of bunker fuel from 3...
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Market fundamentals impact storage opportunities in Singapore
As one of the most crucial tank storage hubs in the world, Singapore and nowadays the greater Singapore region play a fundamental role in global trade...
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Russia dominates Baltic oil & gas supply
The countries that have shorelines along the Baltic sea are diverse in size, economic might and of course energy use and storage but most of them have one thing in common: a strong reliance on Russia for much of their oil and gasneeds...
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Unique spiral construction method deployed for Western Europe's largest tank terminal project
The port of Antwerp is currently experiencing the construction of a mega tank terminal with a total storage capacity of 750,000 m3, intended for the storage of petroleum and petrochemical products...
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After Aliso: why benzene needs to be the industry's next casulty
Every business involved in the oil and gas industry should be investing in the latest gas detection expertise according to Steve Billingham, CEO of Duvas Technologies, who believes a current lawsuit in the US will have significant repercussions for the global petrochemical sector Benzene is a highly dangerous, carcinogenic compound...
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A new approach for accurate & reliable storage tank leak monitoring
Despite the fact that several different leak detection technologies are available, operational experience has shown how difficult it is getting reliable leak detection from a sensing system...
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Revolutionising tank inspections with drone technology
Recent advancements in robotics have opened up new inspection solutions that are driving major efficiencies and have created a step-change in internal tank inspection safety...
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Self-expanding firefighting foam - a new approach to fire protection
Throughout the history of bulk liquid storage tank firefighting, one of the most important aspects for the successful extinguishment of a rim-seal or full surface fire is time...
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Are you under pressure to manage overpressure?
A risk-based approach to managing legacy systems at risk of overpressure is a pragmatic solution, explains EEMUA’s technical executive Jeevan Abraham A significant proportion of UK plant infrastructure and equipment was fabricated, built and installed in the 1950s and 1960s...
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Process safety & operational risk management feeling the squeeze
Process safety & operational risk management in hazardous industries report reveals the effect the oil price down turn and reduced budgets are having on safety performance The 2018 edition of Petrotechnics’ process safety and operational risk management report explores how far the oil price downturn and knock-on budgetary squeezes are affecting safety performance; the real-world experience of safety and risk and where that exceeds – or falls short of – expectations; the relationship between safety culture, human factors, technology and engineering practice...
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Construction opportunities for the US oil & gas market
A full-service marine contractor, Weeks Marine serves the industry as a one-stop shop for marine construction projects...
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Avoiding relief chatter on LNG storage tanks
The design of pressure relieving systems for cryogenic storage tanks can be complex and challenging to safely provide one of the last barriers of safety defense, as shown in figure 1...
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Embracing the digital transformation
The downstream oil and gas industry is undergoing significant changes...
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Spark from isolated hose ignites combustible powder atmosphere
Static electricity is often perceived as an invisible risk. Static electricity provides an ignition source for serious fires and explosions that could occur during everyday operations involving the handling and processing of flammable products...
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