Official (Alberta) Oil Discussion Thread

[nik-]

Probably want to cover their shorts

[Flash Walken]

Based on that article it reads like the Saudis are going to cut production which should overall lead to an opec reduction but that Iran for instance can continue at their own rate.

Correct or do I need to go back to highschool?

[InglewoodFan]

Given how engineering has gone so far on these LNG projects, I'm going to guess that as far as jobs go there will be lots for Canadian craft labour but not too many scraps for Canadian engineers. It all seems to be going to the big international players, and likely for good reason given that there isn't much LNG experience in Canada.

[_Q_]

What are the conditions on this LNG facility? I would hope that one of the 190 conditions is to utilize local labour as much as possible.

[GGG]

Originally Posted by _Q_

What are the conditions on this LNG facility? I would hope that one of the 190 conditions is to utilize local labour as much as possible.

To make these economical the modules are built in China and the tanks in Italy. Most of the refrigeration equipment out of Japan or Korea. Still a ton of site work though to put it all together which there isn't enough local to Kitamat supply so it will be camps with fly in fly out.

[calgarygeologist]

Is it time to buy property or land in Prince Rupert speculating a housing/population boom?

[Leeman4Gilmour]

Originally Posted by _Q_

What are the conditions on this LNG facility? I would hope that one of the 190 conditions is to utilize local labour as much as possible.

I haven't read through it but, usually, 90% of these kind of conditions are simply "do what you said you would"

[Hack&Lube]

https://www.washingtonpost.com/busin...97f_story.html

If China has built larger reserves than previously estimated, that means much of what looked like oil demand over the past couple of years was not a result of higher consumption but of strategic planning

(...) with low prices, China has been on a buying spree, many analysts believe.

Investment banks and other analysts have estimated that China has been importing 600,000 to 1.2 million barrels a day more than it needs for consumption. If China has just been bargain hunting, it could cut imports and help keep prices low.

[heep223]

Originally Posted by Flash Walken

Based on that article it reads like the Saudis are going to cut production which should overall lead to an opec reduction but that Iran for instance can continue at their own rate.

Correct or do I need to go back to highschool?

No, it sounds like each country is going to agree to a freeze/reduction. At the very least OPEC as a whole is going to reduce, so whatever in-fighting goes on doesn't really concern us.

But you don't have to go back to high school!

[Violator]

Originally Posted by InglewoodFan

Given how engineering has gone so far on these LNG projects, I'm going to guess that as far as jobs go there will be lots for Canadian craft labour but not too many scraps for Canadian engineers. It all seems to be going to the big international players, and likely for good reason given that there isn't much LNG experience in Canada.

All of the engineering is to be done overseas

[Frequitude]

Originally Posted by calgarygeologist

Is it time to buy property or land in Prince Rupert speculating a housing/population boom?

I'd imagine a better land play is to just buy stock in whatever camp operator works in the area.

[Dogbert]

Originally Posted by heep223

Meatsbackonthemenu.gif

Originally Posted by Shazam

I'm having two hookers tonight!

I hope these two posts are unrelated.

[OldDutch]

Originally Posted by calgarygeologist

Is it time to buy property or land in Prince Rupert speculating a housing/population boom?

I dunno did Conklin experience a boom? I am willing to bet they do 7 and 7 and fly guys in and out like many Oil Companies do.

[calgarygeologist]

Originally Posted by OldDutch

I dunno did Conklin experience a boom? I am willing to bet they do 7 and 7 and fly guys in and out like many Oil Companies do.

I would assume that the terminal would need a decent amount of full time staff to run operations if/when it is completed. I don't know how many people it takes to run an LNG facility but I would assume it is in the hundreds or maybe thousands. Those people will probably be local instead of FIFO.

[InglewoodFan]

Originally Posted by Frequitude

I'd imagine a better land play is to just buy stock in whatever camp operator works in the area.

Fun fact, Bechtel brought in a cruise ship for housing for the Alcan job in Kitimat http://bridgemans-services.com/press...ccommodations/

Edit - 330 operations to run the facility http://www.pacificnorthwestlng.com/jobs-&-training/

[Frequitude]

Originally Posted by calgarygeologist

I would assume that the terminal would need a decent amount of full time staff to run operations if/when it is completed. I don't know how many people it takes to run an LNG facility but I would assume it is in the hundreds or maybe thousands. Those people will probably be local instead of FIFO.

I wouldn't be so sure. Heck, Fort Hills is going to be fly-in/fly-out and it's only 100km north of Fort McMurray.

[oilyfan]

Well that was good news while it lasted...

http://www.bnn.ca/malaysia-s-petrona...eport-1.576769

Malaysian state oil firm Petroliam Nasional Bhd is considering selling its majority stake in an $11.4 billion B.C. liquefied natural gas (LNG) plant, three people familiar with the matter said this week.

[Ironhorse]

That's what happens when you drag things out, JT.

[OldDutch]

Originally Posted by Ironhorse

That's what happens when you drag things out, JT.

In all fairness the prospect of going years for regulatory approval to only comply to hundreds of conditions, then stare at the propect of being tied in litigation for years more probably did it.

National interest is meaningless here, even when it is proven beyond a shadow of a doubt we allow special interest group to litigate it to get their way.

Until the gov't passes legislation limiting the ability of national interest projects to be litigated to death we're screwed. Even passing such legislation will be subject to years of litigation. In a lot of ways we're screwed as a nation.

[stampsx2]

Originally Posted by OldDutch

In all fairness the prospect of going years for regulatory approval to only comply to hundreds of conditions, then stare at the propect of being tied in litigation for years more probably did it.

National interest is meaningless here, even when it is proven beyond a shadow of a doubt we allow special interest group to litigate it to get their way.

Until the gov't passes legislation limiting the ability of national interest projects to be litigated to death we're screwed. Even passing such legislation will be subject to years of litigation. In a lot of ways we're screwed as a nation.

And that's how we do things in Canada folks. We're our own worst enemy and we allow it to happen. If i had an investment in canadian lng i'd of backed out years ago.