Panel Sessions Monday

Session overview:

The industry is transforming to be more efficient as prices remain weak. Upstream companies are exploring various strategies to accommodate the weak crude oil price environment, like cost cutting, vertical integration, new revenue models, consolidation, and new equipment and service models. Operators are now rediscovering the spirit of efficiency. Operators in the US onshore have been able to raise production per well while lowering cost per barrel by using improved horizontal drilling techniques. While companies are developing integrated offers in-house, many are also collaborating or merging with others to provide a wider range of services. The low oil price has created a new passion for efficiency, which highlights new technologies that can drive efficiencies—albeit at a limited investment cost. M&A activity in the OFSE industry can be characterised as the consolidation of similar types of businesses.

Since the beginning of the 1990s, both the petroleum industry and the petrochemical industry were exacerbated during global economic crisis in the 2008–2009 years. Global demand for petrochemical commodities will continue to grow but differently by regions. Petrochemical companies throughout the world are restructuring, consolidating, and implementing local and international strategies to improve profitability. Integration of refining and petrochemical operations leads to large credits. Most integrated companies have separate organisational structures for refining and chemicals.

This recognises the differing requirements for success in each business. Petrochemical producers build on the synergies of refining and chemicals operations to add value to both businesses. There are many cost advantages from the integration of refinery and chemical plant facilities. These benefits can be the greatest at times of industry change. There are many drivers of integration, among which are weak prices, stagnation or decline of petroleum products consumption, market fragmentation, environmental regulations, and global competition. The panel will discuss the integration in depth, and evaluate joint ventures (JV) viability and the synergies attached.

Show appNow available for download»
SPE Energy4me WorkshopsHigh school student & teacher energy education outreach programme launched»
Technical Sessions Announced143 papers have been selected for presentation across 21 technical sessions»
Limited Stands RemainingApply online today to exhibit and join 200+ other oil & gas leaders»
Registration Now OpenRegister for the conference before 31 August & save US$ 100. Entry to the exhibition is free»
Record Attendance at KOGS 20155,241 attendees came to KOGS 2015, marking a massive 53% increase over the inaugural edition.»