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The brink of oil and gas energy: a great loss?

There are many persistent local and international conflicts in oil producing countries due to power struggles among the leaders, to have a total control on oil and gas supplies, etc. These conflicts have disrupted the oil and gas production and supplies which at one point saw the world?s oil price h...

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Main Authors: Ismail, Issham, Asalem, Mohd. Anas, Mazeli, Abdul Hakim, Wan Sulaiman, Wan Rosli, Jaafar, Mohd. Zaidi, Ismail, Abdul Razak
Format: Conference or Workshop Item
Language:English
Published: 2015
Subjects:
TP Chemical technology
Online Access:http://eprints.utm.my/id/eprint/61665/1/IsshamIsmail2015_TheBrinkofOilandGasEnergy.pdf
http://eprints.utm.my/id/eprint/61665/
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spelling my.utm.616652017-04-26T04:34:23Z http://eprints.utm.my/id/eprint/61665/ The brink of oil and gas energy: a great loss? Ismail, Issham Asalem, Mohd. Anas Mazeli, Abdul Hakim Wan Sulaiman, Wan Rosli Jaafar, Mohd. Zaidi Ismail, Abdul Razak TP Chemical technology There are many persistent local and international conflicts in oil producing countries due to power struggles among the leaders, to have a total control on oil and gas supplies, etc. These conflicts have disrupted the oil and gas production and supplies which at one point saw the world?s oil price hit an all time high of US$147.27 on 11 July 2008. The high oil price was due to escalated demand than supply, and in reality there is no shortage of conventional oil and gas resources. In fact, the Earth has nearly 1.688 trillion barrels of proven crude oil, which will last 53.3 years at current rates of extraction. The problem lies in produceability and accessibility to those resources. Currently the oil and gas industry is facing a very challenging period with the world?s oil price has dropped sharply from above US$100 per barrel to US$50 per barrel as of 5 November 2015 due to the slowing demand from China, the United States of America, Japan, and Europe. As a result, many local and international oil companies and service companies have released or terminated their technical staff. Oil companies have to reduce their production cost or break-even dollar value per barrel in order to survive in this difficult time. On the other hand, this difficult environment will not stop the Department of Petroleum Engineering from offering the same number of places for the Bachelor Degree in Petroleum Engineering programme to Malaysian and international students. Via the accredited programme and UTM Professional Skills Certificate, those petroleum students are prepared for local and global markets. 2015 Conference or Workshop Item PeerReviewed application/pdf en http://eprints.utm.my/id/eprint/61665/1/IsshamIsmail2015_TheBrinkofOilandGasEnergy.pdf Ismail, Issham and Asalem, Mohd. Anas and Mazeli, Abdul Hakim and Wan Sulaiman, Wan Rosli and Jaafar, Mohd. Zaidi and Ismail, Abdul Razak (2015) The brink of oil and gas energy: a great loss? In: Energy and Technology Camp 2015, 7-9 Nov, 2015, Skudai, Johor.
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
language English
topic TP Chemical technology
spellingShingle TP Chemical technology
Ismail, Issham
Asalem, Mohd. Anas
Mazeli, Abdul Hakim
Wan Sulaiman, Wan Rosli
Jaafar, Mohd. Zaidi
Ismail, Abdul Razak
The brink of oil and gas energy: a great loss?
description There are many persistent local and international conflicts in oil producing countries due to power struggles among the leaders, to have a total control on oil and gas supplies, etc. These conflicts have disrupted the oil and gas production and supplies which at one point saw the world?s oil price hit an all time high of US$147.27 on 11 July 2008. The high oil price was due to escalated demand than supply, and in reality there is no shortage of conventional oil and gas resources. In fact, the Earth has nearly 1.688 trillion barrels of proven crude oil, which will last 53.3 years at current rates of extraction. The problem lies in produceability and accessibility to those resources. Currently the oil and gas industry is facing a very challenging period with the world?s oil price has dropped sharply from above US$100 per barrel to US$50 per barrel as of 5 November 2015 due to the slowing demand from China, the United States of America, Japan, and Europe. As a result, many local and international oil companies and service companies have released or terminated their technical staff. Oil companies have to reduce their production cost or break-even dollar value per barrel in order to survive in this difficult time. On the other hand, this difficult environment will not stop the Department of Petroleum Engineering from offering the same number of places for the Bachelor Degree in Petroleum Engineering programme to Malaysian and international students. Via the accredited programme and UTM Professional Skills Certificate, those petroleum students are prepared for local and global markets.
format Conference or Workshop Item
author Ismail, Issham
Asalem, Mohd. Anas
Mazeli, Abdul Hakim
Wan Sulaiman, Wan Rosli
Jaafar, Mohd. Zaidi
Ismail, Abdul Razak
author_facet Ismail, Issham
Asalem, Mohd. Anas
Mazeli, Abdul Hakim
Wan Sulaiman, Wan Rosli
Jaafar, Mohd. Zaidi
Ismail, Abdul Razak
author_sort Ismail, Issham
title The brink of oil and gas energy: a great loss?
title_short The brink of oil and gas energy: a great loss?
title_full The brink of oil and gas energy: a great loss?
title_fullStr The brink of oil and gas energy: a great loss?
title_full_unstemmed The brink of oil and gas energy: a great loss?
title_sort brink of oil and gas energy: a great loss?
publishDate 2015
url http://eprints.utm.my/id/eprint/61665/1/IsshamIsmail2015_TheBrinkofOilandGasEnergy.pdf
http://eprints.utm.my/id/eprint/61665/
_version_ 1643655230389223424
score 13.211869

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