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[ Flat 🅱️, Jalan San Peng ] ⬅️ geng taboh orang punya kaki ja yang duduk kat sini 😁 #bourbonoffshorenorway #oilandgas #oilpro #coldstacked #warmstacked

The image shows several different rig types, including both conventionally moored semis and DP semis, to provide context on size, water depth, and technological advancement.

#oilpro #drillingrigs #drillingformulas

Beautiful day to be working in the country. #oilandgas #oilpro #frac

Time For New Shirts! Only A Month Old & Already Out Of Date As We Close In On 500k Members! #OilandGas #Oilpro

The World Is Millions Of Barrels Away From Peak Oil

From #OilPro -- The notion that demand for crude oil will soon peak has largely replaced the idea from a decade ago that crude oil production was about to peak for geological reasons. This new idea is that we will no longer need oil (or at least a lot less of it) because consumers will choose alternatives to oil.

But actual oil consumption numbers suggest that peak demand for oil won’t happen soon, and when it does happen it will do so at a demand millions of barrels/day higher than current demand.

Proponents of peak demand expect that exponential growth in electric vehicles (EVs), and to a lesser extent an increase in biofuel production will send oil demand into permanent decline. In fact, nearly 1.5 years ago Bloomberg suggested that at a continued annual growth rate of 60%, EVs could displace 2 mbd of oil by 2023. At a 30% growth rate, 2 mbd would be displaced by 2025.

The key problem with the Bloomberg scenario is it treats oil demand as stagnant, which results in the assumption that in 2023 the displacement would take place from current demand levels. In other words, if 2016 demand was 95 mbd, the Bloomberg scenario presumes 2023 demand at 93 mbd (and falling yearly). The flaw in the scenario is that for over 30 years average oil demand has grown each year by more than 1 mbd. Over the past decade, oil demand has grown each year by 1.1 mbd. Over the past 5 years, 1.4 mbd. The BP Statistical Review shows oil consumption grew by 1.6 mbd last year.

Oil consumption in 2016 represents a new all-time high in global oil demand and occurred despite the fact that global EV sales grew at a 41% rate in 2016 to reach nearly 800,000 vehicles. The growth over the past decade also took place during a time that global biofuel production increased by over a 1 mbd.
Underlying oil demand is growing for several reasons. The population is growing, the middle class is growing, automobile sales in developing countries are growing at a blistering pace, and the number of miles driven is reaching all-time highs.

The implications are clear with respect to the peak demand argument.

See you next month! #madura #offshore #fpso #oilpro #oilandgas

Volvera a la vida @oilprosuspensiones ?
DALE QUE VAAAA #OilPro paaaaa

One thing we want to emphasize is that our industry specific knowledge as well as extensive relationships throughout the industry provide us with sourcing advantages. This gives us access to minerals, leases and production opportunities not available in the public marketplace. ⠀

For more information, click the link in bio.⠀

#americanoil #shaleoil #fracking #oilbusiness #oilandgas #oil #drillersclub #oilpro #oilrig #oilfieldlife #privateequity #entrepreneurlifestyle #entrepreneurlife #entrepreneurship

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One thing we want to emphasize is that our industry specific knowledge as well as extensive relationships throughout the industry provide us with sourcing advantages. This gives us access to minerals, leases and production opportunities not available in the public marketplace. ⠀

For more information, click the link in bio.⠀

#americanoil #shaleoil #fracking #oilbusiness #oilandgas #oil #drillersclub #oilpro #oilrig #oilfieldlife #privateequity #entrepreneurlifestyle #entrepreneurlife #entrepreneurship

Welcome to Vice Minister ESDM RI Mr Arcandra Tahar and team,
First Gas Ceremony of Madura-BD Field.
Thank you for visiting us sir.
#esdm
#skkmigas
#hcml
#bumiarmadaberhad
#fpso
#oilpro
#offshore
#offshorelife
#chopper
#migas
#migasindonesia
#oilworker

8000 tonne crane flinging a ships bow around. #samsungheavyindustries would be desolate today having 3 major projects recently depart there yards.

Tackling the only brand known in this town, SAMSUNG. Filmed him from my taxi. Wonder how he'd go with a Kalvinator twin door and an up stairs kitchen eh @nickwoolacott

South Korea
Soju mountain
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The only extra curriculum outside of the #shipyard that was slightly healthy.

South Korea
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#prelude
Ship yard mobilisation
Young fella adding another fall to the crane wire arrangement in order to increase the lifting capacity. @mickacko barred up;)

Surf Allamanda - Team Cob
Subsea installation
Borneo 🌊 .
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Bangka Deep Sea Development Project. Water depth 1000 meters = 2 hours of tuna fishing 🎣
#technip

One thing we want to emphasize is that our industry specific knowledge as well as extensive relationships throughout the industry provide us with sourcing advantages. This gives us access to minerals, leases and production opportunities not available in the public marketplace. ⠀

For more information, click the link in bio.⠀

#americanoil #shaleoil #fracking #oilbusiness #oilandgas #oil #drillersclub #oilpro #oilrig #oilfieldlife

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