5530851659890Oil and Gas Field Machinery and Equipment Industry of U.S.A.
7900035000Oil and Gas Field Machinery and Equipment Industry of U.S.A.
General external environment analysis, consist of demographic segment , economic segment, political and legal segment, technological segment, socio-cultural segment and the global segment, these segments cannot be cannot be directly controlled.
The demographic segment in the oil and gas sector are analyze and compete globally. Some factors include the population size, ethnic mix, income distribution, age structure and geographic distribution
The economic segment must be monitored in the direction of the economic growth by monitoring, scanning, forecasting and assessing the economy of the oil and gas sector and its rivals, both domestic and international. Monitoring gross domestic product, inflation rates, interest rates, trade deficits or surpluses, budget deficits or surpluses and business savings rates.
Technological segment relies on advance technology processing mega data and assessing huge volumes in oil and gas, geoscience, and finance. Also discovering the latest innovation in control systems, digital oilfields, and fiber optics.
The socio-cultural segment includes the cultural aspects of society which must be considered by the oil and gas sector are religion, ideological views on issues, religion and demography. Some trends that affect the oil industry are the decreasing use of dirty fossil fuel such as coal, oil sands, and shale gas.
The political and legal segment represents how the government and the oil and gas sector influence and understand each other in strategically creating taxation laws, deregulation philosophies, severed property rights, royalties, leasing mineral rights securing governmental permits, and authorizations and offshore drilling rights. The global segment advance techniques adopted by the oil and gas sector for smooth and protective transportation from oil and gas production and to larger main pipeline or storage areas. Advance technological features include inline inspection of the oil and gas pipes. These demand will continue to grow globally.
General Environmental Analysis
United States has access to both natural resources and energy. However, a look into the future reveals that there are challenges related to these vital components that must be overcome if the United States is to maintain its economy and standard of living. Energy in the United States comes from a range of sources, including oil, natural gas, coal, and nuclear, solar, wind, and geothermal sources. Each of these industries is an important piece of the nation`s energy “quilt.” Carbon dioxide (CO2) is also of interest when considering energy conversion processes since it is a by-product of coal-or gas-fired power plants and petroleum refineries. It also is associated with global warming and climate change (nap.edu/read/18250/chapter/1)
The expected domestic production of large amounts of natural gas will have a major impact on electricity generation, where currently 45 percent is generated by coal, 20.3 percent by nuclear energy, and 23.4 percent by natural gas nap.edu/read/18250/chapter/2). Over the past 50 years, U.S. oil consumption has almost doubled, from 10 million bbl. /day in 1960 to more than 19.2 million bbl./day in 2010 ( 2 percent per year Currently, the United States is the largest consumer of oil in the world (EIA, 2012c) (nap.edu/read/18250/chapter/2)
U.S. oil production peaked in 1970 at about 9.5 million bbl. /day, when total imports were 1.4 million bbl. /day. Total U.S. oil demand in 1970 was 10.9 million bbl./.day (EIA, 2011c) (nap.edu/read/18250/chapter/2).
This new demand has created an economic global shift in the price of oil beginning around 2005 (nap.edu/read/18250/chapter/2).
In 2008, U.S. production dropped to an all-time low of 5 million bbl. /day, while demand was about 20 million bbl. / day. Domestic production was about 25 percent of U.S. demand. According to Fowler (2011), BENTEK Energy anticipates a production turnaround, and U.S. oil production in areas including the West Texas Permian Basin, South Texas Eagle Ford Shale, and North Dakota Bakken Shale having an increase of slightly more than 2 million bbl./day from 2010 to 2016 (nap.edu/read/18250/chapter/2).
The strong demand for oil and gas at higher sustained prices has created new opportunity, with boom effects being experienced in the onshore regions of the country that have not been seen since the 1970s The resulting explosion has created demand for workers and equipment. Demand for onshore equipment has tripled since 2000 (nap.edu/read/18250/chapter/4).
The shale gas plays that recently have come to the forefront have largely developed as a result of horizontal drilling and hydraulic fracturing techniques. These technologies have unlocked more than 1,000 trillion cubic feet of potential new gas reserves. With the United States consuming approximately 24 trillion cubic feet per year, these gas volumes represent a long-term energy solution, provided the industry can overcome environmental and socioeconomic concerns about the extraction technology (nap.edu/read/18250/chapter/4).
Due mainly to improved technology associated with horizontal drilling in oil shale and unconventional reservoirs such as the Bakken formation, as well as improved oil-sands production in Alberta, Canada, oil production in the United States is expected to hit levels not seen since 1990 (nap.edu/read/18250/chapter/2).
The exploration of oil and gas activities would contribute to creating jobs and revenue for the town improving the lives of its residents with the additional resources for such as healthcare, community services, and education. The production from the oil and gas, royalties are paid to the landowners and taxes are paid to the local government.
Development of an oil or gas field also could potentially affect property values, either positively from increased employment effects or negatively from proximity to the oil or gas fields and any associated or perceived adverse environmental effects (noise of compressor stations, visual effects, air quality, etc. (Cooper, Stamford, & Azapagic, 2016). The disadvantages of drilling on land with large scale equipment can cause destruction of sacred cultural grounds. Resulting in exposure to contaminants of noise, dust, erosion, depletion of water surface and loss of habitat. Some economic losses could occur if recreationist (including hunters and fishermen) avoid the area (Wiley.com). Increased growth of the transient population could contribute to increased criminal activities in the project area (e.g., Robberies, drugs) (Gasdrillingtechnotes.org)
Oil and Gas sector is the second largest source of Greenhouse Gasses. The oil and natural gas sector emitted 225 million metric tons of carbon dioxide equivalent that year, making it the second largest major industry sector producing greenhouse gas pollution. Refineries came in third with 182 million metric tons of emissions (Foreffectivegov.org).
Climate policies are introducing new uncertainties on both the supply and demand side. If countries are serious about reaching a climate change target of 2 degrees Celsius (or even 1.5 degrees, as agreed in Paris), they simply cannot burn all the oil and gas that is still in the ground. Climate targets could leave a lot of energy resources as ‘stranded assets’ (Barysch & Allianz). From the producers point of view, this means that it is no longer a smart strategy to leave oil in the ground on the assumption that a barrel pumped tomorrow will be worth more than a barrel pumped today (Barysch & Allianz, “8 reasons why the politics of oil have changed”)
Global oil and gas supply demand outlook report provides detailed of global, regional and country wise forecasts to 2025 (Markets, Asia Pacific Oil and Gas Supply & Demand Outlook to 2025 – Low Prices Result in Oil Production Decline at Alarming Rates). Amid OPEC decision to curtail output, US production growth, changing dynamics of emerging economics like China and India, the report provides detailed analysis and outlook into global oil and gas markets. In addition to production from existing fields, over the long term, deep water exploration areas will witness strong growth, driving upstream investment upwards. With plans to increase natural gas role in energy mix and increasing shift towards floating LNG terminals, markets consuming natural gas are set to increase. In particular, demand from developing countries will account for significant amount of increase in demand. On the other hand, low oil prices continue to challenge rapid growth of natural gas (PR Newswire, 2017)
The oil and gas industry in the United States has always changed, and has caused changes in the societies in which it operates. The schismatic changes of the 1970s opened a new era. The oil and gas industry now require drastic response for the industry to prevail. Those responsible both inside and outside the industry need to try to understand what is happening now and how it may affect the future, to explain their strategies clearly and to adapt to new situations as they develop. In a world where technology and environmental threats are changing industries and society so rapidly, the slowly turning supertanker is not an image that excuses inertia in oil and gas companies and those who deal with them. All who are in the industry or who are involved with it need to share clear thinking about the future (arabenergyclub.com/Chatham-House.pdf).
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