The investigations on site and in the laboratory ensure that the picture of the subsurface which is obtained is as precise as possible
CRUDE OIL & NATURAL GAS
Oil and gas supply the world with energy. And natural gas in particular, the most climate-friendly fossil fuel, is an irreplaceable energy resource as we scale up our use of renewable energies: for energy from natural gas can be used flexibly and ensures our supply security for decades to come. Oil is also more than just an important fuel; it is also an essential raw material for the chemicals industry and found in numerous articles we use in every-day life, for example medicines, clothes and electronic devices such as cell phones and computers. Modern life as we know it today has been made possible by oil and gas – and they will remain vital natural resources in future, too.
CRUDE OIL
Oil, gas and gas condensate are among the most important energy sources in the world. One thing we know for sure is that we need oil – currently around 90 million barrels of crude oil a day. Oil is used for many other purposes other than fuel for energy or transport. And yet we are constantly hearing new and often conflicting forecasts about the potential reserves and resources.
What is the future for fossil fuels? The end of oil and gas production is not yet in sight. But what we do already know is that the reservoirs will be depleted at some point – after all, as far as oil is concerned, we are consuming four times the amount of oil that we are discovering in new reservoirs. Hence, the resources have to be used sensibly. For this reason, oil heating is gradually being replaced by other energy sources. On the other hand, it will remain crucial as a raw material for the chemical industry.
The industrialized countries will need intelligent strategies in future for managing these valuable resources.
BRENT DETERMINES THE OIL PRICE IN EUROPE
Prices for crude oil are based on the rates on the international oil bourses New York Mercantile Exchange (NYMEX), ICE Futures in London (formerly International Petroleum Exchange), Rotterdam (ARA), Chicago (CBoT), Shanghai (SHFE), and the Singapore Exchange (SGX). In Europe, the most important type of crude is Brent. The historical oil price trend is characterized by strong fluctuations with the exception of what is known as the Golden Age of cheap oil – between World War I and the 1973 oil crisis.
FOSSIL FUELS FOR NEW ENERGY WORLD NATURAL GAS
Natural gas has been used primarily for heating and generating electricity – that will change in the future. That’s because natural gas can also demonstrate its benefits over other fossil fuels in terms of carbon footprint in the mobility sector and in tandem with renewable energies. Compared to oil, natural gas emits around a quarter less climate-damaging greenhouse gases – and even up to 35 percent compared to lignite and hard coal. At the same time, using natural gas contributes to clean air: Natural gas contains no aromatic compounds, considerably less sulfur, and burns with practically no particulate matter. In addition, natural gas can make a decisive contribution to solving the storage problem for renewables. Thanks to existing infrastructures and power-to-gas technologies, excess green electricity can be converted into renewable gas and stored.
THE BENEFITS
Natural gas is ready for the mobility transition. A study by the Institute of Energy Economics (EWI) shows: Switching a fifth of the German vehicle fleet from gasoline and diesel to natural gas by 2030 would allow up to 20 million tonnes of CO2 equivalent to be avoided annually. That corresponds to the annual CO2 emissions of 2.5 million two-person households. Combined, natural gas-powered cars and buses emit up to 60 percent less CO2 than diesel. In addition, the gas-air mixture in a natural gas engine burns with practically no particulate matter. Gas in the form of CNG, LNG and renewable gases can score points for heavy transport – and also at sea! The 15 biggest ships in the world alone emit as many pollutants as 750 million cars, according to the environmental association NABU. Using LNG there could cut emissions by up to 90 percent.
THE MARKET
Gasx Energy Downstream division is made up of different business activities that are part of an integrated value chain. This value chain turns crude oil into a range of refined products, which are moved and marketed for household, industrial and transport use. The products include, among others, gasoline, diesel, heating oil, aviation fuel, lubricants, bitumen, sulphur and liquefied petroleum gas (LPG). In addition, it produces and sells petrochemicals worldwide and holds a leading position in the petrochemical sector in the Eastern Europe region and USA.
SERVICE DETAILS
EXPLORATION & PRODUCTION
Operations
Gasx Energy Upstream, having accumulated over 25 years of experience in conventional exploration and field development.
Middle East, Asia and Africa
Gasx Energy has interests in five blocks in East Africa one of the largest hydrocarbon producing blocks in the country. After multiple discoveries and tie-ins, our operated production exceeded ~85 mboepd in 2017.
Other Countries
Egypt Gasx Energy is involved in exploration and production activities in Egypt since 2010.
Downstream
The products include, gasoline, diesel, heating oil, aviation fuel, lubricants, bitumen, sulphur and liquefied
