Announcement. Visiting Research Fellow Programme, 2018

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1 Announcement Visiting Research Fellow Programme, 2018 Objectives of the Visiting Research Fellow Programme The Visiting Research Fellow Programme (VRFP) is an innovative approach to human capacity development and is designed to help professionals from OPEC Member Countries improve their expertise and technical skills in research in an array of energy-related issues. It does this by providing participants with the opportunity to become involved in the Secretariat s research operation through practical experience and learning by doing. Professional Benefits to Fellows Participants in the VRFP benefit from being in the programme through: Involvement and close participation in the Secretariat s research programme and studies; Contributing to ongoing projects in the Secretariat and strengthening of networks with Member Country professionals; Gaining experience at the Secretariat and deepening their knowledge of OPEC and understanding of its goals, priorities and activities; Opportunities to involve themselves in cutting-edge research and hands-on experience of policy issues in climate change and on a range of energy-related topics; Enhancing their professional experience through practical work assignments; Exposure to a rich international environment and interaction with researchers from OPEC Members and other countries; Broadening their career possibilities as a result of the experience and insights gained at OPEC. General Eligibility Requirements The programme is open to applicants from Member Countries only. They must be nominated and supported by their respective OPEC Governors; Applicants should be professionals with a minimum of five years of relevant work experience; Applicants must be familiar with research methodology and should have a proven record of research experience; Participants are expected to be able to undertake the programme in English, which is the working language of the Secretariat; Applications must be submitted through the relevant Governor for OPEC. 1

2 Expected Outcome/Deliverables Participants in the programme will be involved directly in the research undertakings at the Secretariat and will contribute to them; Participants are required to deliver a report to the Secretariat on the findings of their research projects; Participants are required to make a presentation at the end of their assignments and to discuss their research findings with members of the Secretariat. All intellectual property arising from research by the programme s participants belongs to the Secretariat. An intellectual property and confidentiality agreement will be signed before a successful participant is formally accepted into the programme. Duration & Working Hours The duration of the programme will be six months. The Visiting Research Fellows are expected to observe the official working hours of the Secretariat. Allowances, Accommodation, Travel and Insurance Participants are required to have paid employment and to be able to fully support themselves financially while staying in Vienna, and they must provide adequate evidence of this through their nominating Governors before they can be admitted to the programme. The Secretariat will provide each participant with a monthly honorarium of 1,000 to assist with extra expenses. However, the Secretariat will not cover any costs related to the accommodation or travel of participants or their dependents. Participants must arrange their own health/sickness insurance and provide evidence that they possess adequate health coverage before arriving in Vienna. The Secretariat will not be responsible for any health or sickness claims stemming from the fellowship period. With regard to accident insurance at the workplace, the Secretariat will enroll participants in its accident insurance scheme for the duration of their stay in the programme at the Secretariat. Application Evaluation Criterion Candidates' professional merit and potential for successful research will be the main consideration when evaluating the applicants. Application Procedure Applicants are required to complete the application form, which includes writing an elaborate research proposal that should centre on any of the topics listed below. Applicants are also requested to attach their latest Curriculum Vitae to the completed application form. The following are the research topics available in the different Departments/Office/Unit at the Secretariat for the 2018 VRFP: 2

3 Data Services Department Introduction to the Data Services Department The Data Services Department (DSD) is responsible for supporting research activities in the Research Division through provision of statistical data management and analysis, software development, and documentation/references management services. The department is the central provider of reliable, timely, up-to-date data, documentation and information pertaining to the oil market in particular, and energy and related issues in general. Research topic: 1. OPEC Member Countries Crude Oil Trade Intensities The main objective of the research is to empirically identify by means of statistical techniques the main determinants of crude oil imports and exports. A multivariate panel data approach focusing on the effects of relevant fundamental and non-fundamental factors will be utilized to detect crude oil trade intensities. The statistical model will be based on theoretical foundations, whereas the selection of the explanatory variables will be based on a comprehensive literature review, together with available and accessible empirical observations. Historical data will be used to examine the validity of model parameters as well as the performance of the proposed approach. Solid knowledge of oil market fundamentals Solid knowledge of statistical analysis Solid knowledge of data mining techniques Strong computing capability 2. Digitalization Prospects in the Oil and Gas Industries The main objective of this research project is to investigate the impact of digitalization on oil and gas operations and productivity gains. As part of their strategic business objectives to achieve operational excellence and growth, oil and gas companies are adopting digitalization among their technologies to reduce cost and achieve productivity gains. Digitalization of oil and gas field operations is reflected through improved mobility, increased computational power and deep analytics by mean of new super computers on the cloud or the grid. The advent of IoT (internet of things) through hybrid networks will improve information flow from different parts of the production chain. Field operation automation will increase with parallel cost reductions. The introduction of augmented reality and Digital Twins is expected to reduce maintenance cost by up to 20%. The objective of this research is to investigate and assess the latest digitalization technologies and envision their possible impacts on oil and gas operations, both for conventional and unconventional fields. It is critical to assess impact in terms of efficiency improvements and productivity gains. Solid engineering background with a focus on production and reservoir engineering Solid knowledge of digital and IT-related technologies 3

4 Understanding of systems engineering, technology deployment, augmented reality, cloud and grid computing Intermediate understanding of operational excellence, project management Lean and TQM Solid understanding of field operations in oil and gas Strong analytical skills and interest in new technologies Ability to search for and organize information 4

5 Energy Studies Department Introduction to the Energy Studies Department The Energy Studies Department (ESD) is responsible for monitoring, analyzing and forecasting world energy developments in the medium- and long-term and reporting thereon. It also monitors developments, and undertakes specific studies on energy demand and production-related technology and the emerging implications for OPEC. ESD furthermore identifies and follows up key areas of research and development (R&D) and facilitates and supports coordinated planning and implementation of collaborative energy-related R&D programmes by OPEC Member Countries, as well as identifying prospects for OPEC participation in major international R&D activities. R&D activities undertaken by ESD include: studies and reports on medium- to long-term developments in the petroleum industry; provision of effective tools for and carrying out of model-based studies for analyses and projections of medium- and long-term energy supply/demand and downstream simulation; elaboration of OPEC s Long- Term Strategy; and monitoring, analyzing and reporting on relevant national or regional policies, such as fiscal, energy, trade and environmental policies, and assessing their impact on energy markets. 1. Comparison of energy outlooks and scenarios: convergence or divergence? A number of institutions and companies provide energy outlooks on a regular basis, such as IEA, EIA, BP, Shell, Statoil, IHS, Wood Mackenzie, DNV, RAS and OPEC, among others. However, comparison of these outlooks is often problematic, as they use differing definitions of fuels, country groupings, time horizons, etc. Moreover, the key to understanding the differences in specific projections and scenarios includes getting insights into the policy, price and technology assumptions underlying these scenarios. Thus, the objective of this research project is to compare the most often used outlooks/scenarios with an emphasis on providing insights about their intents, key assumptions and final results at various levels, i.e. global and regional, major country, primary fuel, major sector, etc. Another objective is to develop a tool that would allow for easy comparison (to the extent possible) in future years. : A strong background in energy economics Familiarity with Microsoft office software Good research experience with the ability to collect up-to-date and relevant data Teamwork, accountability and professionalism 2. Price Setter: a crucial element for a forward-looking methodology on longterm price and margin calculations Players in the refining and petrochemical industry are essentially laggard and leaders, i.e. those who set the rules and those who face or need to adapt to the rules in the market place. Long-term oil product pricing stems from the interaction of many factors. Oil product prices are gauged at Singapore, Rotterdam and the US (NY harbour and USGC). Currently these three major refining poles are associated with marginal refineries which 5

6 enable regional price setting and are references in long-term pricing of refined products. Long-term pricing is also determined by refining capacity and ability to generate replacement costs in the process of adapting business-as-usual and alternate demand scenarios. Refining schemes play a central role in this context. Crude oil is the major component in refining costs. Regional marginal refineries are linked to reference crudes (currently WTI, Brent and Dubai), which determine their base economics. A refiner is indifferent in processing a crude other than the reference one, as long as it produces equivalent economics. Thus, non-reference crude costs are assessed by adjusting marginal refinery economics either to crude quality or weight. The objective of this study is to analyse current long-term methodologies for price setting (EIA, IEA, and others) and review possible shortcomings or advantages when compared with price-setting from LP modelling marginal information. The assignment combines both technical and strategic planning capabilities. : A post-graduate degree with an engineering background: petroleum economics or chemical engineering Ample knowledge of the oil and gas industry and oil trading Excellent modelling skills 6

7 Petroleum Studies Department Introduction to the Petroleum Studies Department Within the Research Division, the Petroleum Studies Department (PSD) is responsible for the continuous monitoring of oil and product market developments in the short term, and reporting thereon in a timely and precise manner to Member Countries. Its objective is to provide pertinent and reliable information and analyses in support of decision-making and policymaking in Member Countries, as well as to highlight the conditions under which the world oil markets are balanced. PSD is also responsible for carrying out, on a continuous basis, research programmes and studies on short-term energy market issues. The objective is to make reports and ad hoc papers, highlighting particularly important issues for Member Countries use and consideration. A further area of responsibility is the conducting of a series of regular forecasts by elaborating on and analyzing oil market scenarios. These findings will then be reported to Member Countries for information purposes, as well as in support of policymaking. Research topics: 1. Analysis of Oil Price Cycle The aim of this study is to decompose the historical fluctuation of oil price into its components, such as trends and cycles and to investigate and analyse factors attributable to fluctuations. The factors include but are not limited to demand and supply, policy, improvements in energy efficiencies, developments in marginal production costs, and developments in alternative fuel energies. Identifying future trends and oil price cycles based on investigated factors would be very beneficial for future decision-making. The study should include: a review of related literature on analysing and modelling oil price trends and cycles; an analysis of the marginal cost of oil production for different sources (conventional, non-conventional, tight oil) around the world; a review of related policies impacting oil price trends and cycles for both demand and supply. Advanced degree in economics, econometrics and statistics Good knowledge of oil markets Strong background and relevant experience in energy economics or econometrics Proficiency in the use of econometric software Teamwork, accountability and professionalism 2. Updating supply parameters in the OPEC database from 2018 to 2023 The objective of the study is to update and quantify observed world average annual crude oil and NGLs production decline rates in the various producing regions and country-by-country for OPEC s short- to medium-term supply projections, focusing on the period from 2018 to the end of The findings will serve as an update to currently-used estimates. Moreover, this study will consist of future required upstream investment. Another goal is to find out planned or routine maintenance start-ups and returns, particularly for non-opec oil 7

8 producers. Finally, a final list of sanctioned upstream and FID projects during the mentioned period is wished. Advanced related university degree (Master or PhD) in petroleum engineering, geoscience or reservoir geology Strong background and relevant work experience in petroleum engineering particularly in reserve estimation, probabilistic and deterministic analysis Proficiency in the use of Excel, Access, PowerPoint and Oracle data base Teamwork, accountability and professionalism 3. Develop a supply/demand balance for crude oil and refined products The objective of the study is to develop a supply/demand balance for crude oil and refined petroleum products by region as categorized by the Secretariat. The then-established supply/demand balance should also provide the basic framework and methodologies for developing supply/demand data on regular basis (monthly/quarterly/yearly), as appropriate. The focus will be on collecting and assessing data for crude oil supply vs. demand (refinery intake) and product supply (refinery production) vs. end-user demand. Study results should be presented in Word, PowerPoint and Excel, and highlight the methodology used and a final supply/demand balance breakdown by region. The impact on crude oil/ petroleum product prices and trade flow patterns should also be clearly identified. Advanced related university degree (Master or PhD) in economics or energy economics-related subject Strong background and relevant work experience in energy econometrics as well as modelling techniques Proficiency in the use of Excel, PowerPoint and econometric software Teamwork, accountability and professionalism 8

9 Legal Office Introduction to the Legal Office The Legal Office (LO) contributes to the conduct of OPEC affairs by promoting the rule of law within the Organization and in its relations with governments, organizations, enterprises and individuals. The LO primarily advises on all legal matters, while also generally maintaining and defending the legal claims and interests of the Organization. Research topics: 1. The Impact of International Law on OPEC as an International Organization This research topic shall examine the legal status and international personality of OPEC, as well as the privileges and immunities of the organization and its officials vis-à-vis international law. As the headquarters seat of the Organization is located Austria, the research topic is expected also to cover an analysis of the European Union s recognition of the Organization s Headquarters Agreement concluded with the Government of the Republic of Austria. It should also determine the principles of Customary International Law as well as relevant conventions or treaties which may impact the functions of OPEC as an international organization in terms of its activities at different levels. Advanced univeristy degree (Master) in international law Knowledge and international-level working experience in public international law, international treaties and conventions, responsibility of international organizations, privileges & immunities Proficiency in the use of Excel, Access, PowerPoint and Oracle data base Teamwork, accountability and professionalism 9

10 PR & Information Department Introduction to PR & Information Department The Department is statutorily responsible for presenting OPEC s objectives, decisions and actions in their true and most desirable perspective, contributing to the awareness of governments, national and international institutions and companies, as well as the general public, about OPEC and its activities, while presenting the OPEC Secretariat as a professional institution in the field of energy market data, analyses and projections. Research topics: 1. Social Media as a Public Relations tactic (tool) OPEC has adopted several publicity tools across various mediums over the years to provide information while protecting the image and interests of its Member Countries. The website is a main platform (our publications are also an integral platform) through which the Organization disseminates information to the public about its activities. Recently, a new Annual Statistical Bulletin app was launched. The Organization has been thus taking steps to (finally) take advantage of the IT and social media revolution. Is there a need to also expand into the world of social media? Is this type of communication appropriate for an organization such as OPEC, where one word can sway the entire oil market? Could social media tools such as Facebook, Twitter and Instagram work in tandem with existing media tools? What would the Organization want to achieve by using social media tools? What exactly are its objectives? How have these tools served to help other similar organizations? What are the risks, benefits and manpower requirements for OPEC in adopting new social media practices? Could social media be used to improve the Organization s image but also achieve other objectives as well, for example, data sharing and information dissemination, thereby contributing to our objectives of transparency and openness? University degree in communications, public relations, marketing or related field Good communication and presentation skills Work experience in social media marketing or in digital media Thorough knowledge of current social media outlets including Facebook, Instagram, Twitter, and LinkedIn A deep understanding of using social media to optimize audience engagement Knowledge or familiarity with the energy industry in general and the oil industry in particular Ability to benchmark best practices in social media usage and implementation comparing organizations similar to OPEC Writing/editing skills are an advantage 10