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Houston, TX, United States

World crude oil demand will exceed 87 million b/d by 2025, consistent with an outlook for a return to normal economic and petroleum-demand growth. Increases in global crude oil supplies will be required to meet this anticipated increase in demand. The supply analysis in Purvin & Gertz's annual Global Crude Oil Market Outlook suggests a sufficient backlog of new developments will be well positioned to meet much of the near-term incremental increases in oil demand. Concerns for additional production declines from Mexico and Venezuela will also play into the balance of future oil supplies. Despite an outlook for decreasing oil supply from certain regions, Purvin & Gertz's analysis suggests major investment in new developments that will exceed declines from existing fields in addition to meeting near-term incremental increases in oil demand. The analysis indicates that the Middle East, Europe, and North America will see crude oil quality becoming progressively higher in sulfur. Source

Goobie G.,Purvin and Gertz
GPA Annual Convention Proceedings

A presentation on the issues facing the gas processing industry in western Canada covers the significant events that affect US- Canada relations; petroleum industry in western Canada; NGL facilities in Alberta; natural gas outlook; western Canadian NGL outlook; Alberta ethane supply; Canadian propane demand; and Canadian pentanes plus/condensate supply. This is an abstract of a paper presented at the 90th Annual Convention of the GPA (San Antonio, TX 4/3-6/2011). Source

Vautrain J.,Purvin and Gertz | Holmes C.,Purvin and Gertz
Oil and Gas Journal

Floating LNG (FLNG) technology holds greater promise economically if three key issues related to capital cost, modularity, and the insurance attributes related to its installations can be addressed successfully. The costs of gas pipelines to LNG production ashore can be substantial. For remote offshore locations the cost of a gas export pipeline to the shore-based LNG production can add perhaps 40% or more to the cost of the LNG plant. The optimal design is not always the cheapest. The FLNG vessel will pose its own insurance problems. The estimated maximum loss (EML) for an onshore LNG plant can be determined by identifying single events that might inflict the most damage on the plant. The ability of individual insurers to accept risk for any one calamity is limited. Insurance is important and insurance companies, while generally familiar with the FLNG concept, have not yet faced the task of actually writing policies for FLNG. Source

Hart W.,Purvin and Gertz | Gist R.,Purvin and Gertz | Otto K.,Purvin and Gertz
Oil and Gas Journal

Several factors threatened the stability of the LPG markets outside the US in 2010. Some of the factors included reductions in LPG production in Algeria, resulting in a decline in LPG exports by Sonatrach and LPG terminal maintenance in the North Sea disrupting trade in Northwest Europe. The global LPG markets were adversely affected by many of these factors. Several global events also continued to threaten the stability of the LPG markets in 2011. The base demand for LPG increased by around 3.1%, reaching 231 million tons in 2010, despite the impact of these factors, as more LPG was required to satisfy such demand. The demand for LPG in the Middle East also continued to grow in 2010, with the largest increase occurring for base petrochemical demand. Source

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