Oil and gas prices volatility is part of the game Higher oil prices and gas prices in Europe, decoupled gas in North America Oil price Gas prices Brent blend (USD/bbl, 2013 prices) Henry Hub and NBP (USD/MMBtu, 2013 prices) 150 20…
Uncertainty is something we are always facing which makes predictions valuable and disagreements profitable Dow Jones Industrial Average Dow Jones Industrial Average Dow Jones Industrial Average Monthly change (%) 18000 100000 50…
A strong trend affecting economics and energy Economic gravity moves (back) to the east, and so does energy demand The global economic centre of gravity Shifting energy demand Based on geographical weighting of GDP Share in global energy…
Growth, efficiency and energy demand Non-OECD driving growth, energy efficiency to improve by almost 40% Economic growth Growth and energy intensity Global energy demand Annual change in GDP (%) Growth (%) and toe/million 2005-USD TPED,…
Fossil fuels are here to stay Emerging economies drive demand growth oil demand peaks 2030 Global oil demand Global gas demand ex bio fuels, mbd 1000 bcm 150 6 International bunkers International bunkers Other non-OECD 125 5 Other…
Global economy: cautious improvement Slow and uneven growth, but still on track for a gradual acceleration Economic growth 2000-2015 US economy Annual change in GDP (%) Some GDP loss from shutdown expected 15 OECD in 4Q 2013, but still…
Oil price action and global gas price dynamics Medium-term oil price stability, persistent regional differences in gas pricing Brent Crude Oil Natural Gas and LNG Prices USD/bbl USD/MMBtu 130 Dated Brent ICE Brent Dec 2017 120 110…
The fruits of the Arab Spring: oil at USD 110+ Mounting supply loss in MENA neutralises the US tight oil revolution Crude supply losses US onshore growth mbd mbd 4.0 4.0 Yemen Nigeria 3.5 3.5 Syria Sudans 3.0 Iraq Iran 3.0 Libya 2.5…
Medium-term weakness in oil markets Strong North American supply growth dominates market for years to come Global oil balance Annual non-Opec supply growth Supply capacity, demand and Opec spare (mb/d) mb/d 105 8 1.5 100 Supply…
The long-term supply challenge remains The supply sources that will replace declining production are not cheap Crude oil supply, by status Estimates of long-term breakeven costs mbd 90 80 70 60 50 40 Yet to find 30 Discovered,…
A major gas player with Europe as gravity point Recent highlights NCS Major gas discoveries offshore Tanzania Caspian Aasta Hansteen and Polarled developing a new NCS gas province TAP SCP Long term sales agreements for Shah…
Market prices remain high Very strong 2012 average invoiced gas European gas prices* NOK/SM3 USD/MMBtu prices, downward correction this year 3.50 14 3.00 12 NBP day- 2.50 10 ahead 2.00 8 1.50 6 Reduced NCS volumes vs 2012 1.00 4…
Robust outlook for European gas demand Gas demand to recover post 2020 Power sector drives demand recovery bcm Stable demand in heating and industry Coal phase-out will increase need for gas 700 power for baseload and back-up 600…
A European supply gap is emerging Europe will require new gas supplies European supply gap towards 2030 bcm Demand recovery Falling indigenous production 700 Strong competition for LNG 600 Few low-cost options for new supply 500…
Statoils sales strategy Liberalisation gives access to new Relative change in Statoils sales channel mix in Europe customers and sales channels Increasing short-term sales on liquid European hubs 25% New relationships with end…
Trading: utilizing flexibility to capture value Strong marketing and trading competence to leverage market opportunities Upstream and downstream flexibility adding value on European hubs Trading LNG cargoes to maximize value…
New opportunities in new segments Expanding direct sales to new customer segments Power plants Large industries Distribution companies Recent gas sale to Stadtwerke Dsseldorf 600 mcm/year 2016-2030 Enables construction of a…
Caspian gas new supply corridor to Europe Shah Deniz stage 2 Shah Deniz Consortium Final Investment Decision planned late 2013 Statoil BP 16 bcm/y to Europe from 2019 SOCAR Total Lukoil NICO 25 year contract for gas to Europe…
Capturing value in the US gas market Large price spreads between Marcellus production basin and consumer markets Securing capacity rights to growth markets Toronto region from November 2012 New York City from November 2013…
Concluding remarks The European gas market is recovering and outlook is robust Statoils marketing and trading strategy is designed to capture new opportunities in a changing market Developing new gas value chains to expand the…
Statoil procurement Strategy Utilise the global supplier market Principles Competition Transparency Non discrimination Equality Expectations Safety Quality and high standards Social Responsibility 28
Supplier industry importance Statoil procurement 2012: BNOK 145 BNOK 150 145 Business 124.1 18 support 32.5 26.3 Capital 39 100 projects CAPEX OPEX Drilling 44 & well 50 97.8 111.1 Maintenance DRILLEX 44 and…
Upstream operator capital intensity has risen sharply Change in unit cost level, due to: - Higher input prices Change in cost level - Higher margins of suppliers - Lower efficiency & productivity of suppliers Change in…
Important strategic evaluations Global, regional, local sourcing Bundle or segment Do or buy potential Supplier relation competence and capacity Benchmarks availability and use 31
Holistic approach Category Specific Request Evaluation Supplier strategy strategy and awards follow-up Contracts Suppliers Long term Request and Evaluation of specific strategy performance strategy contract bids Market…
Supplier relationship is key Supplier Relationship Management is an ongoing process of engaging with suppliers to Supplier improve business relationships and performance Relationship Management Supplier Performance Management…
The optimal Statoil supplier Safe and sustainable as a foundation for high performance Internal targets aligned with Statoil Use benchmarks and productivity measurements in continous improvement Accountability One…
Pursuing further standardisation and industrialisation Relevant business cases Ambitions and potentials to be achieved Fast track Johan Castberg Improvements within reach: Systems and equipment standardised 50% reduction on time for…
World class project portfolio GUDRUN VALEMON TANZANIA BLOCK 2 MARINER Solid pipeline Short term production Short term production High-impact Heavy oil field contribution contribution discoveries project of projects High ownership…
Statoil procurement Strategy Utilise the global supplier market Principles Competition Transparency Non discrimination Equality Expectations Safety Quality and high standards Social Responsibility 37
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