SBWire

When properties and buildings rely on oil tanks for heat, it is important to make sure the unit is performing at the highest level. As tanks increase in age, maintenance is critical. With underground tanks, the buildup of sludge, rust, and normal wear can damage the tank, leading to problems with the pipe lines. This summer, Professional Tank & Environmental is announcing their services for replacing underground oil tanks in Bucks County.

The report titled "Poland Shale Gas Industry Outlook to 2025 - Government Strategy and Companies Proclivity to Drive Shale Gas Exploration" presents a comprehensive analysis of the industry covering market size by number of shale gas concessions awarded and by number of shale gas wells drilled in the country. The report also entails information on technological prospects, key policy drivers, potential challenges and trends & developments in the industry. The report illustrates a competitive scenario of major players in the industry along with the market share of major companies on the basis of concessions awarded and shale gas wells drilled.

Robust international interest in Croatia's recently opened licensing rounds underscores the improved outlook for the market. Increased offshore exploration activity holds upside risks to our outlook for both reserve s and production. However this upside risk will only begin to factor in toward the tail-end of our forecast period. Although offshore blocks appear to be prospective for both oil and gas, we cannot yet factor in any upside to our current forecast scenario. Therefore our core scenario is for continued decline in both oil and gas production, leaving Croatia with a higher import bill as domestic output continues to fall short of demand. We also note an uncertain outlook for the downstream sector with some reports that at least one or both of the country ' s two refineries may be closed by 2018, if not earlier, due to a lack of competiveness.

We have grown increasingly bullish on Argentina's upstream this quarter. Formal resolution to the Repsol-YPF dispute has removed a major barrier to international oil companies looking to enter the Argentine oil and gas sector. Increased investment and a growing exploration drive point to a marked improvement in investor sentiment, and we expect this trend to continue in the coming quarters.

BMI View: Upstream interest in Turkmenistan's growing gas reserves remains strong, with foreign players, particularly China, eager to gain access to the country's lucrative gas fields. The energy relationship between Turkmenistan and China continues to strengthen, with continued upgrades to existing long-term supply agreements and investment commitments. Turkmenistan has made ambitious gas production targets, raising its own forecasts of gas production in 2030 to 250 bn cubic metres ( bcm ) from 230bcm previously. Although 2030 is outside our forecast period, the ambitious figures highlight the country's optimism, which is reflected in our forecasts for gas production , which we expect will more than double from 7 6.1 bcm in 201 3 to 186 bcm in 202 3 .

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BMI View: The first LNG deliveries from Papua New Guinea's ExxonMobil-led PNG LNG facility, the country's first gas export project, are expected ahead of schedule in July 2014. There continues to be new proposals for LNG exports, including Total's monetisation plans for the Elk/Antelope fields and a possible floating LNG development by Osaka Gas. Gas projects will also offer some relief to a decline in liquids output, condensate from the PNG LNG project will give oil production a temporary boost.

BMI View: Thailand remains driven by a strong oil and gas demand which far outweigh domestic production. With no scope for the country to become self sufficient, it will be critical to develop the necessary gas import infrastructures and to maximise the country's below ground potential. With declining oil and gas reserves and with several delays already affecting the planned 21st licensing round, we expect while oil and gas production will increase slightly in the medium-term, the long-term trend remains one of stagnation or decline.

Oil and Gas Terminal Automation Market by Product (DCS, SCADA, PLC, HMI, Process Safety System, Automatic Tank Gauging, Blending Controls & Security), Transportation Mode (Truck & Pipeline) & Geography - Analysis & Forecast to 2014 - 2020

BMI View: Turkey will remain heavily dependent upon oil and gas imports for the foreseeable future. However, its role as a critical energy transit hub between Europe, the Eastern Mediterranean , the Middle East, the Caspian and Russia provides it with a unique form of leverage and makes it a key player in the global energy market. The decision to proceed with the TAP and TANAP natural gas pipelines cements Turkey's position as a critical transit country , and also secures 6bcm of new supplies for Turkey's domestic market. There is also upside potential to the country's domestic energy production in the form of Black Sea resources and unconventional development s , although it remains too early for either to be factored into our forecasts. M ounting investment into exploration activities underscores the government's growing commitment to increasing its own domestic resource base.

BMI View: While there are efforts to stimulate upstream oil and gas activity, there is little to suggest that South Korea can develop significant resources, meaning the country is set to remain a key importer of crude and liquefied natural gas (LNG) . Public aversion against nuclear is set to support LNG demand in South Korea, while oil demand could soften from 2020 on the back of rising fuel efficiency, particularly in the transport sector, and a switch to non-oil alternatives.

We see the recently passed Mexican energy sector reform as the start of a fundamental paradigm shift for the country's hydrocarbons sector. While it does not challenge the national narrative that hydrocarbons belong to the state, working within these constraints the landmark bill takes steps to incentivise private sector involvement through the creation of a flexible contract system. As such, although we stress that it will take a number of years before results are felt in the country's production and reserves data, over the long term we believe this will bolster investment and could reverse a nearly decade-long decline in oil production.

Extraction of crude petroleum and natural gas market grows at CAGR of 17% over 2007-2012 to reach SR111.9 billion in latter year, being boosted by oil subsidies. Saudi Arabia remains largest producer of crude oil globally with 547 million tonnes of oil produced in 2012. Saudi Arabia has over 250 million barrels of proven oil reserves. Industry highly concentrated with Saudi Aramco generating nearly 85% of total production. Industry forecast to grow at CAGR of 9% over forecast period, mainly driven by expanding oil extraction and growing demand for oil globally.

BMI View: Japan's refiners took a hit in Q1 2014 as new legislation intended to streamline the refining sector saw around 400,000 barrels per day ( b/d ) of capacity taken offline. We expect weak refined product demand to continue offering limited future prospects for the sector. I mport s of oil and LNG increased as a result of nuclear power generation losses in the wake of the 2011 earthquake and tsunami. We expect the first nuclear power plants to return to the Japanese grid later in 2014, reducing the need for fossil fuel imports. That said, we expect LNG demand to remain high as a significant amount of nuclear capacity will remain offline .

With no domestic energy resources, Hong Kong faces the challenge of meeting growing oil and gas demand through imports alone. Having mainland China at its doorstep helps, as the outlook for Hong Kong is linked directly to that of its parent state. Hong Kong may look to import increasing amounts of electricity directly from the mainland, thereby mitigating slightly its dependence on foreign energy resources.

BMI View: Gas shortages continue to loom in Pakistan as the country awaits the development of required import infrastructure. With struggling production, a limited potential for significant increases in gas production and a lack of import infrastructure, the country will most likely continue to experience severe gas shortages over the near-to-medium term.

MarketLines' Oil and Natural Gas Corporation Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Oil and Natural Gas Corporation Limited since January 2007. These reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage.

We retain a cautious stance on the Venezuelan oil and gas sector. While a flurry of new loans and deals may improve the financial position of PdVSA over the short term, the threat that badly needed funds will diverted from investment into the oil and gas sector to fund social programmes remains as real as ever. Moreover, although our long-term forecasts call for growth as projects in the Orinoco belt ramp up, we expect Venezuela to continue its underperformance given the scale of challenges - which range from political interference to chronic underinvestment. Similarly, despite abundant gas reserves, we expect Venezuela to remain a net importer of gas over the course of our forecast period.

Singapore's regional dominance in the downstream will be challenged by refining capacity expansion in the region and high crude oil prices that are eroding margins. However, the future of Singapore's place in the global oil and gas industry could lie in its likely emergence as the preferred hub for growing gas trade in the Asia Pacific region.

Locally based propane delivery and service company, Affordable Propane, has launched a new generation website that invites prospects and customers to a higher level of interaction.

BMI View: Although the start of a number of small fields and continued interest in West Africa's deepwater are positive trends for Equatorial Guinea's oil and gas se ctor, t he temporary recovery in oil production will g i ve way to gradual downtrend, placing the country's heavily oil - dependent economy at risk. While new discoveries could support an expansion of the country's LNG export capacity, uncertainty over the market and infrastructure has rendered investment decisions repeatedly delayed. Notwithstanding the possibility of new discoveries, we expect oil production to gradually head lower over the course of the decade.

BMI View: Ecuador faces considerable above-ground challenges in r amping up its crude production, such that we forecast growth will remain moderate over the coming years. In the short term, we expect increased output from state-owned Petroamazonas, though with production from acreage owned by the pr ivate sector likely to stagnate this will temper gains. Over the longer term, the government's decision to open Yasuni National Park to drilling, and potential for an uptick in output from the Pungarayacu heavy oil field pose significant upside risk to our 20 19 -2023 production forecast . However, we have not factored this in given fierce local opposition and an uncertain production timeline.

BMI View: ExxonMobil will imminently move forward with its appraisal of the Domino-1 discovery in the Black Sea discovery, signalling a positive turn in Romania's upstream outlook. Further exploration efforts in the Black Sea from international oil companies (IOCs) are providing upside risk to the country's outlook. The growing presence of IOCs is a necessary step to take advantage of Romania's increasingly expensive and technically challenging oil and gas developments. The most prospective areas remain offshore in the Black sea and the onshore basins which could support shale gas . Chevron is restarting shale gas exploration after suspending operations since October 2013 due to protests .

Political risk in Egypt has peaked, and we expect a slight moderation over the coming months. The interim government has brought a semblance of stability to Egypt's political scene and a degree of policy continuity that has not been present in Egypt for much of 2013. Nevertheless, we believe that operational risk and lack of policy certainty will affect the country's oil and gas output for the coming months and possibly years. That said, we stress that the country's below-ground potential remains extensive, as exemplified by a series of recent discoveries in onshore and offshore concessions. This leads us to believe that Egypt still holds large upside potential, but this will only be monetised over the long term as current woes are alleviated.

Malaysia's upstream segment could see better days ahead in the short-to-medium term as the completion of both greenfield and brownfield developments brings new volumes of oil and gas online. New gas supplies will underpin continued expansion in the country's liquefied natural gas production based in Sarawak. Consumption growth will limit some of the export gains to be made from growing output, though a reduction of oil and gas subsidies would see a slowdown in the rate of this. The expansion of its downstream capacity could be more challenging, as it would face fierce competition from neighbouring Singapore.