Category Archives: 2017

Oil Field In 2017

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Crude oil has always been seen as being one of the most important sources of energy that has fuelled the growth of modern civilization. With the growth and progress of modern civilization depending largely on the oil, it is therefore, no wonder that the oilfields constitute as one of the most important sectors that determine a number of other global factors such as the economy, technological advancements and the like.

Trends in the Oil Field Sector to Watch Out For In 2017

2016 being an eventful year in many ways for the oil field industry, 2017 is expected to be more so. When it comes to predicting the future of this industry it is possible for even the astute experts to go wrong. Though it is easier to talk about the trends in the oil field industry in hindsight rather than the future possibilities, there are certain trends that one could watch out for in the coming year.

The demand and supply gap is likely to reduce in the coming year with a gradual reduction in the stockpile. While the global capital expenditure is likely to remain weak, exploration and production capital in the US is likely to bounce back. It is also expected to be a good year for Russia and the Middle East.

With the Exploration and Production companies resetting their financial allocation at higher levels, the impetus of the rigs based in the US and Canada are likely to roll over into 2017 from 2016. There is likely to be a proportionate reduction in the rig demand and drilling time, with the average utilization of rigs causing a hike of about $2000-3000 per day.

The offshore drillers are likely to get a boost in the coming year largely owing to the decision of the OPEC. The clearing of credit tracks is been seen as an effective contributor to the reduction in overhead pressures.

The demand in pressure pumping and frac horsepower are also likely to take some time before they gain the desired momentum. Entrepreneurs are more concerned with the maintenance of market shares more than a hike in the price at the moment.

3 Key Oil Projects to Look Out For In 2017

The prices of oil and gas gradually came to a stable point and the prominent oil producers reacted to these changes in a variety of ways in 2016. In spite of the various cuts in the budget in the previous year, a considerable amount of promising investments are being expected to roll out in 2017.

  • Turkish stream– After a period of stagnation, Russia and Turkey are likely to move forward with the Turkish Stream Pipeline project in 2017. The first phase of this project is likely to be complete within the year 2019 and the total cost of the project has been estimated to be about $15.1 billion.
  • Egina field development– With project cost of about $16 billion, the Engina field development project in Nigeria is all set to be able to start its first oil production by 2018.
  • Tengiz field expansion– The Tengiz Field Operations in Kazakhstan is likely to begin from 2017 with a project cost of $36.8 billion.

In conclusion, one could say that 2017 will definitely be an eventful year for the oil field industry all throughout the globe.

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What is the Construction Forecast for 2017?

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The year 2016 is almost at its end and business honchos across various industries are trying to find out how the year 2016 was for them. This year may have been great for few industries and for the rest not that great. So since this year is about to end market pundits are busy contemplating how the year 2017 will be for them and what it will bring along with it. As far as the construction industry is concerned it was a busy year for this industry and is also expected to continue its legacy in the forthcoming year. Construction industry across various sectors has seen phenomenal growth in the past year particularly the commercial construction sectors which is considered to be in the most profitable zone and is also expected to growth at the rate of 6 percent per annum.

Well there are some industry experts who feel otherwise and they predict a slight fall in the commercial construction sector but will remain steady. So we will not have to fear about any job cuts and things like that. They also believe that the institutional sectors will fare better than last year. These estimates are coming from experts who have been studying the market for years and on the basis of some research they put their rationale. It is not always that they have to be correct with what they say about the market but construction industry far and wide likes to go with their study and follow their suggestions. The year 2015 was an excellent one as far as the US market is concerned. The demand of hotels, amusement parks, commercial spaces and stuff has only increased its demand further. This demand is not going to die down anytime soon and therefore we can expect a bright 2017.

More so, after Donald Trump becoming the President of the United States, the chances of the growth of the construction industry has grown to be brighter. Many believe that since the President has its hand in the real estate business, he will probably not let it go down by any means. Keeping the influence of politicians in the construction industry aside, there are still number of reasons why one should believe that the year 2017 will be a better one for newcomers as well as for the ones who have been in this industry for years. According to Dodge Data and Analytics it is presumed that the overall industry will grow from 5% to 713 billion dollar which will be an overall gain of 11%as compared to 2015 and 2% as compared to 2016.

It was the statistics of Dodge Data and Analytics that had also forecasted for 2016 and said the beginning will be a bit sluggish followed by a rise in the sector post the mid of 2016. Things were more or less correct as per their assumption and we saw some real big projects which includes the liquefied natural gas export terminal that has been set up in Texas. More projects like this followed real quickly and it shaped the size of the construction industry for better.

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