Prices back up, sulphur problems and French on strike

This section summarizes downstream developments of the previous month. Exploration & Production are covered in 'Upstream Review'.
Oil prices eased during May until fears of a winter heating oil shortage in the US caused middle distillate and crude oil prices to strengthen, pushing Brent back above $50 a barrel by early June, whilst in the US, WTI figures futures topped $55. Concerns about winter heating oil so early in the year gave rise to fears of even higher prices by autumn. Venezuelan President, Hugo Chavez, stated meanwhile that "most OPEC members" thought $50 a "fair price" for crude oil.     

THE MONTH IN BRIEF: Crude oil prices up,Libyan output down,and further cuts for Europe's refiners

This section summarizes downstream developments of the previous month. Exploration & Production are covered in “Upstream Review.”     

Low Oil Prices Gas up Chinese Buyers

<正>As the downward trend levels out,companies from China are finding big bargains around the globe.A new wave of Chinese outbound oil acquisitions is expected in the second half of 2015 as well-financed Chinese firms take advantage of struggling companies while oil prices remain low globally,industry insiders say.The huge drop in oil prices over the past year,from US$110 per barrel in     

No OPEC increase, Iraqi output up and Mexican exports down

This section summarizes downstream developments of the previous month. Exploration & Production are covered in 'Upstream Review'.
Oil prices fell back early in December as fears grew that high prices were about to push the US and other markets into recession. Brent fell back below $90/bbl ( see 'Oil Price Review') but the fall proved only temporary and prices began to rise sharply towards the end of the year. OPEC ministers did nothing to ease market fears when, at their meeting on 5th December in Abu Dhabi, they decided to leave the organization's output ceiling unchanged at 27,253,000 bpd. The ministers rejected calls from consuming countries to produce more oil, declaring in their communiqué that the market was "well-supplied", with stocks at "comfortable levels". The high level of prices was blamed on what the communiqué called "speculative activity" by financial funds and others. Angola and Ecuador were brought into the production-sharing system, being given output quotas respectively of 1.9 mn bpd and 520,000 bpd.     

CNOOC revenue up in Q3 on higher oil,gas prices

正China National Offshore Oil Corporation(CNOOC),the country’s biggest offshore oil and gas producer,reported strong revenue growth for the third quarter mainly due to rising prices for crude oil and natural gas.The unaudited revenue from oil and gas sales in the third quarter rose16.9 percent to about 35.94 billion yuan($5.42 billion),the company said in a report.Average price of crude oil sold     

Chaos in Iraq, troubles in Russia and prices back at their previous highs

This section summarizes downstream developments of the previous month. Exploration & Production are covered in 'Upstream Review'.
Iraq suffered its worst single day of civilian casualties since the end of the US-led invasion when a car bomb killed more than 125 outside a police recruiting centre in Hillah. Attacks continued on oil installations, including the export pipeline to Ceyhan, which functioned for less than eight days in February, having been closed previously since 19th December. The US death toll in Iraq passed the 1,500 mark and the interim Prime Minister, Ayad Allawi, extended the country's 'state of emergency' for a further 30 days amid continuing violence. Ukraine is to suggest that Iraq exports some of its crude via the under-used Ukrainian pipeline network ( see GER Survey of Russia on website). This would involve a new pipeline across Turkey to the Black Sea. The Ukrainians also want to export electricity to Iraq.     

Low Oil Prices Drive up China's Crude Oil Imports

<正>China’s crude oil imports hit a record high in the first half of 2016 despite an economic slowdown,and analysts largely attributed the surge to low prices,not strategic maneuvering.The country imported 186.5 million tons of crude oil in the first half of the year,23.15 million tons     

基于上下位机的中频弯管机控制系统

基于上下位机中频弯管机组的自动监控系统按结构分为信息管理、控制和设备三层,系统采用IPC+PLC的上下位机的结构,其中下位机PLC作为现场级的控制设备,用于数据采集和控制;上位机IPC利用工控组态软件完成过程数据的存储、处理、分析及人机交互界面。介绍了控制系统中温度测量、恒温控制、工艺参数记录储存、历史数据查询等设计方案及工作中应注意事项。使用证明,该系统工艺一致性好,基本实现了自动控制。     

AHV-IV震源不正常升压和降压的故障分析

本文阐述了AHV-IV震源的震动泵和辅助泵控制电路的工作原理,描述了该震源升、降压异常的故障现象,分析了故障原因,并给出了故障的排除方法。     

氮气助返排解堵技术

简述了自生热氮气助返排酸化解堵技术的化学原理及特点。该技术在河南油田现场应用10口井,平均单井增油2.9t/d,收到了较好的应用效果。结合不同的堵塞类型进行解堵配方的研究和改进,该油田已研制出了有针对性的新型高效系列解堵配方。     

SURVEY: Oil economics turned upside down as low prices fail to bring about production cuts

Low oil prices were meant to result in the shutting‐in of high‐cost production, especially in the US, allowing supply and demand to rebalance at a much higher oil price. Instead, we have rising production from the US and elsewhere and continuing low prices. The link between low crude prices and production in a number of key producers across the world is examined by Oil and Energy Trends' Consulting Editor, Dr Paul McDonald.     

AHV-Ⅳ震源不正常升压和降压的故障分析

本文阐述了AHV-Ⅳ震源的震动泵和辅助泵控制电路的工作原理,描述了该震源升、降压异常的故障现象,分析了故障原因,并给出了故障的排除方法.     

THE MONTH IN BRIEF: Dollar up,oil down,and markets worry about Brexit,Turkey, Libya,and Nigeria

This section summarizes downstream developments of the previous month. Exploration & Production are covered in “Upstream Review”.     

THE MONTH IN BRIEF: Crude oil prices plunge,OPEC takes a back seat,and Kurds agree export deal with Iraq

This section summarizes downstream developments of the previous month. Exploration & Production are covered in “Upstream Review.”