Digital Transformation – Learn By Doing

first_imgLast week we held the official opening of the EMC Cloud Foundry Dojo in Cambridge, Massachusetts. The term ‘dojo’ is a Japanese word that translates to ‘the place of the way’. In our dojo, software developers learn and contribute to Cloud Foundry, the leading open source platform for Cloud Native Applications. The Cambridge dojo is also co-located with Pivotal Labs to help customers develop these applications via modern software practices. The pairing of cloud software and cloud platforms are key ingredients in leading businesses through their digital transformation journey.Why is the dojo opening a significant milestone for EMC? First, it underscores EMC’s commitment to open source software. Open source is a key purchasing criteria for 3rd platform applications and infrastructure. During the second half of 2015, EMC emerged from a non-participating company to one of the top contributors to the Cloud Foundry open source. EMC is helping to enhance the governance, risk, and compliance requirements of Cloud Foundry for enterprise businesses.Second, it demonstrates EMC’s ability to transform itself via a DevOps model. Cloud Foundry’s methodology is a combination of the ‘best-of-the-best’ modern software development practices including Agile, Lean, Extreme Programming, and CI/CD. All contributors to the open source community follow this ‘way’ of development everyday.Third, but most importantly, the dojo is a key investment in one of the most critical components of cloud computing architectures – Cloud Foundry. Cloud Foundry gives customers freedom of choice. It enables their applications to run on multiple cloud providers ensuring cross-cloud portability.The new digital world is very different and in some ways upside down. I’d like to reflect and pass on my learnings from the last 12 months to help you with your own digital transformation. So let’s cover people, process & technology in reverse order.Technology Transformation – You Won’t Even Hear An EchoHaving spent many years in product development at EMC, I have crossed chasms from mini-computer to mainframe to client-server to cloud computing. The cloud computing chasm is, by far, the widest and deepest of all. In fact, it’s so big, you won’t even hear an echo. Sure, there are commonalities to client server architectures, however the application and infrastructure framework is very different today. The notion of the data center is quickly becoming an artifact of the past. Developers just want to push {my-app} to {my-cloud}. Abstraction levels are increasing and simplification is balancing out the complexity of software stacks. Yet we all know that making things simple is actually very complex.What can help your business cross the chasm? Take a deeper look at Cloud Foundry for your cloud computing architecture. It provides a high degree of cloud infrastructure automation and it allows developers to simply push {my-app} to {my-cloud}.Process Transformation – Learn By DoingLike many of you, I grew up in a structured world of product development and program management. This world is built around a traditional lifecycle of ‘think-plan-do-check-and-correct’. In fact, if we’ve met, I’m sure you’ve heard my mantras around execution such as:Plan your work, work your planFailing to plan is planning to failThe plan of record is the plan of record until the plan of record changesPlan the flight, review the plan, fly the plane, review the flightHowever, the new digital world is very different. The speed and magnitude of change is ten times greater than the world in which we came from. Traditional methodologies focus on increasing predictability. However, with so much uncertainty and change in this new digital world, traditional approaches no longer apply.What’s the answer? Learn by doing. The new world is premised upon lean start-up principles. The new lifecycle is ‘build, measure, learn, and iterate continuously’. Most transformational innovations don’t start with a plan to get you from point A to point B. They start by doing something, learning from it, and pivoting accordingly. The build-measure-learn model is more efficient and achieves customer acceptance sooner. It’s extremely rigorous, collaborative, and productive. You can achieve greater innovation, in less time, at a lower cost, with equal or better quality.EMC and Pivotal Labs are helping customers in this transformation. Many CIOs recognize the value of a lean DevOps model, but struggle with starting and transforming their broader IT organizations. Our approach is to ignite brush fires across the organization. Build, measure, learn. If you never start, you’ll never get there.Personal Transformation – Load The ‘Jump Program’If you’re a fan of The Matrix Trilogy, it’s time to load the ‘Jump Program’. The new digital world is very different and requires new skills and values. I’ve had a few mile-wide jumps in my career. If you ever have a chance to take one of these opportunities, you should.How do you make sure you can get to the other side? Jump with both feet, don’t look back, and when you get halfway across, keep going. Learn by doing.last_img read more

Know wild mushrooms

first_imgBy Sharon DowdyUniversity of GeorgiaMushrooms are popping up as a result of the rainfall brought to the state by recent tropical storms. Many look just like the ones in grocery stores, but a University of Georgia expert warns they may not be safe to eat.In fact, Chlorophyllum, a mushroom commonly seen in yards and ongolf courses, looks very similar to some edible mushrooms, saidCharles Mims, a plant pathologist with the UGA College of Agricultural and Environmental Sciences. Unlike the edible mushrooms, Chlorophyllum is highly toxic and causes severe upset stomach. “It’s one that will definitely make you sick to the point that you might even wish you were dead,” Mims said.To be safe, Mims recommends not eating wild mushrooms unless you are skilled in mushroom identification. “I would never suggest anyone go out and randomly collect wild mushrooms to eat,” he said. “You have to know what you’re picking.”Optimum conditionsConditions are ideal for mushrooms to reproduce right now. “They pop up when the environmental conditions are right and this is usually triggered by moisture or temperature,” Mims said. This is why certain species are only seen in the fall of the year and others only in the spring.“The drought conditions we’ve experienced over the past few years have kept us from seeing [many] mushrooms, but the body of the mushroom, known as the mycelium is present year-round in the soil,” Mims said.Mycelium grows unseen usually alongside tree roots before forming mushrooms.Fungus among usMushrooms belong to the group of organisms known as fungi, which includes the molds and mildews found on foods and in homes.“Pathogenic forms cause diseases in plants, animals and humans,” Mims said. “The yeast we use for baking bread and producing alcohol are also fungi.”Domestic mushrooms sold in grocery stores and served in restaurant dishes were once wild mushrooms, he said. “Agaricus, the mushroom commonly found on pizzas, came from nature back in 1760s in France,” he said. “Shiitake mushrooms were first domesticated in China in 500 A.D.”Call of the wildSome cultures in Europe and Southeast Asia collect and eat wild mushrooms. But amateurs shouldn’t, he said.“Collecting mushrooms is a big part of these cultures, and it’s a skill that is taught from one generation to the next,” he said. To learn which mushrooms are edible, buy a good mushroom identification book or join a mushroom club.“There are a number of excellent books available on mushrooms,” he said. “And there are a lot of people out there who do collect and eat wild mushrooms. There’s a group in Athens that takes mushroom walks and then meets to identify the samples they collect.”If you harvest wild mushrooms, have a mushroom expert identify them for you. Then, only consume a very small portion the first time you eat a new edible find. “There are a lot of wild mushrooms that are good to eat,” he said. “And there are some that will kill you. The most poisonous mushrooms in the world belong to the genus amanita. Their poison can destroy your liver and there is no good treatment available.”If you don’t want to risk getting a stomachache, Mims suggests dining out.“You can always play it safe and go to a restaurant that serves wild mushrooms,” he said. “Then you get the experience without the risk.”last_img read more

Powerline project is approved with stipulations

first_imgPowerline project is approved with stipulationsThe state’s Public Service Board has approved Vermont Electric Power Co.s proposed $130 million Northwest Reliability Project. The project will include the construction of over 64 miles of new and larger powerlines, spanning from West Rutland to New Haven, and along the western edge of the state to South Burlington.The board has required that VELCO make some changes to this route, asking that they bury the powerlines for 1.4 miles through Shelbourne, despite the additional $3.4 million it will likely cost the company. Many people are worried about scenery blockage and the impact these new structures will have on their businesses.last_img read more

Children of Winter

first_imgSki film legend Warren Miller’s latest flick, Children of Winter, features much of the expected big air action. But this one jumps around the world with a diverse cast of characters to not only show off chops but also expose the fun side of playing on the mountain in winter. Former World Cup speedster Daron Rahlves hits the Alps in Austria but is also filmed at Sun Valley, Idaho, with Colby West and Seth Wescott, who play in the half-pipe, while Michael Franti provides the après-ski soundtrack. He’s not the only musician featured. At Okemo in Vermont, Dave Matthews Band’s Stefan Lessard rides with friends Eric Fawcett of N.E.R.D, Adam Gardner of Guster, and Ed Robertson of The Barenaked Ladies, before the boys jam in an impromptu classic rock cover band. Other cool footage includes Olympic Gold Medalist Jonny Moseley meeting up with former opponent Takehiro Sakamoto in the Japanese Alps.last_img read more

DexShell on How to choose the Right Waterproof Socks

first_imgBecause comfort always starts with your feet, it’s important to have the right sock for every adventure occasion. Dexshell is here to help with their extensive range of technically advanced, trustworthy element-repellent outdoor socks. Next time you head out into the field use this handy guide to select the right socks for your journey.unspecifiedThe right sock for every activity: When choosing a sock that’s right for you always consider: DexShell has a sock for every occasion:Ultra Thin Socks – This is the world’s thinnest waterproof sock! It is a super light over-the-ankle sock great for warmer conditions or aerobic activity in cold conditions. It comes equipped with a bamboo liner.Hytherm Pro – This is one of DexShell’s warmest socks with a full Merino wool terry looped liner. A long sock, it offers full over-the-calf clearance.  This is an ideal hunting piece and is perfect for someone who spends a lots of time outdoors during periods of prolonged cold.Trekking Sock – This calf-height sock comes equipped with an under-the-foot merino wool cushion pad. It is DexShell’s best all-around sock. The Coolvent Sock is the Coolmax version of DexShell’s Trekking sock and also comes in a synthetic version.Wading Socks – This knee-high sock features an in-cuff seal at the top to prevent water from coming into contact with your skin.  It’s full acrylic terry looped lining provides warmth and great cushioning. Running  – Ultra Thin SocksBackpacking – Trekking SocksHunting – Hytherm ProFishing – Wading Socks Your HeightYour preference of cushion vs no cushionThe materials you will choose – Merino vs Coolmax vs Bamboo etc..The activity and seasonunspecified-1last_img read more

Malaysia to deport some 4,800 undocumented Indonesian workers in custody

first_imgMalaysian authorities are set to deport around 4,800 undocumented Indonesian migrant workers being detained at several immigration custody centers, a local high-ranking official has said.“The Malaysian Immigration Department and the Foreign Ministry coordinated with the Indonesian Embassy in Kuala Lumpur [on May 28] about the deportation,” Malaysian Defense Minister Ismail Sabri Yakoob said in a live telecast from Kuala Lumpur on Saturday as quoted by antaranews.com.The migrant workers will first undergo rapid test testing for COVID-19 before returning to Indonesia. The Indonesian Embassy will be invited to attend the testing, Ismail added. “The [Indonesian] embassy will be allowed to make consular visits [to the immigration depots] to complete the administration needs of deportees who do not have travel documents,” Ismail said.Kuala Lumpur, he went on, appreciated the cooperation that had been shown by Jakarta regarding the handling of Indonesian migrant workers in Malaysia.When asked about the issue, Foreign Ministry spokesman Teuku Faizasyah confirmed to The Jakarta Post on Monday that it was regular deportation conducted by the Malaysian authorities. He explained that it was not a coordinated repatriation, like what had been carried out by the government to facilitate Indonesians abroad who wanted to return home amid the COVID-19 pandemic.“However, it still needs to be coordinated, in terms of how to ensure the deportation follows a standardized health protocol. In addition, we must also ensure the readiness of the entry points at home,” he said.   “The first phase [of the deportation] will start on June 6 for some 2,189 undocumented Indonesian migrants that are now still in custody in the detention centers at the Malaysian peninsula and Sarawak region, with 672 more who are still in detention centers in Sabah region,” he said.Read also: 421 Indonesians arrested in Malaysian immigration raidThe first group, comprising 450 deportees, will return home on June 6 on three flights to Jakarta, Medan in North Sumatra, and Surabaya in East Java, and 445 others will return home on June 10 via the same routes.Of the 4,800 workers, 1,294 will travel by ship to Medan later this month.center_img Topics :last_img read more

Wolf Administration Awards Grants for Projects Targeting Better Health Outcomes in North Philadelphia

first_img June 04, 2019 Wolf Administration Awards Grants for Projects Targeting Better Health Outcomes in North Philadelphia SHARE Email Facebook Twittercenter_img Healthcare,  Press Release,  Public Health Harrisburg, PA – Governor Tom Wolf today announced details of projects selected to support improved health outcomes in North Philadelphia’s Health Enterprise Zone (HEZ), an eight-mile area in Philadelphia with a large Medicaid population but poor health outcomes. In February, Gov. Wolf announced the award of $3 million for five programs to create projects that will use community health workers to address health disparities in children, older adults, and those who are frequent users of medical services by increasing health promotion and education in the HEZ.“Community health workers encourage partnerships and collaboration between health care providers, community organizations, and residents to address inequities and barriers to health care services, reduce health care costs, and help residents lead healthier lives,” Gov. Wolf said. “I’m pleased we are now awarding this funding, which will go a long way toward helping residents in North Philadelphia access the health supports they need to get and stay healthy.”Education Plus Health, Bebashi – Transition to Hope, Project HOME Health Services, Health Federation of Philadelphia, and New Kensington Community Development Corporation were selected as awardees. The projects these programs created through the grants include:• Education Plus Health: improving child and adolescent health outcomes through the School-Based Health Center Community Health Worker project, which will integrate community health workers into each school-based health center team to screen students and identify concerns related to asthma, diabetes, mental health, substance use, food insecurity and healthy weight, and multi-generational health needs.• Bebashi – Transition to Hope: mitigating the symptoms of multigenerational poverty by addressing food insecurity through physically expanding Second Helping, an emergency food pantry, and working to increase access to quality health care and assistance programs through one-to-one resource navigation with direct linkages and referrals for HEZ residents.• Project HOME: addressing diabetes and managing growing health care spending through the Healthy Communities Program, which will train peer community health workers to recruit participants from the HEZ with diabetes or pre-diabetes. The initiative will use an evidence-based healthy lifestyle program focusing on nutrition, physical activity, healthy food access, and motivational supports and will connect participants to integrated health and wellness resources.• Health Federation of Philadelphia: strengthening programs at organizations throughout the HEZ by training community health workers and peer support workers to build sustainable capacity and promote organizational development. They will focus on addressing diabetes and prediabetes through the implementation of a diabetes prevention program, while also addressing behavioral and mental health and substance use disorders. In addition, the project will utilize technology by implementing a cloud-based platform for comprehensive social service referrals.• New Kensington Community Development Corporation: addressing social determinants of health by hiring 8-10 community health workers and certified peer specialists and utilizing trauma-informed training to assist as they screen clients and connect them to resources for health care, food resources, credit and budget counseling, and other social service resources.“As we work towards better long-term health outcomes for all Pennsylvanians, providing coverage for health care services is only the first step,” said Department of Human Services Secretary Teresa Miller. “People in low-income households may struggle to access basic necessities such as nutritious food and stable housing and maintain connections to health care providers and community services to help them get and stay healthy. Our hope is that these projects will start to reduce these barriers by supporting community health workers that will establish relationships and connections that will help residents lead healthier lives.”“Health is a fundamental human right, and we are committed to ensuring that everyone has access to the same level of health and quality of life,” Secretary of Health Dr. Rachel Levine said. “Health equity concerns include maternal and child health, lack of pre-kindergarten education, food insecurity and unaffordable housing. These grants will allow those working in this community to further their work to ensure that residents have access to the resources they need to live a healthy life.”Community health workers bridge the gap between health care providers and patients by helping patients navigate the health systems and social support services available in their community, as well as advocate for the patients they work with. Community health workers are trained by medical and public health professionals and typically come from the communities they work with, ensuring cultural competence as they help residents live healthier.Zip codes within the HEZ include: 19120-26, 19130-34, 19138, 19140-41, and 19144. As stated in the RFA, which was announced in October 2018, the grantees also will develop partnerships with other local entities to ensure sustainability beyond the grant period. A portion of grant funding can be used for community health worker education and training.The HEZ was identified through a partnership between the Department of Human Services, the City of Philadelphia, area hospitals, universities, and community partners. More than 580,000 Philadelphia residents are covered by Medicaid, and approximately 320,000 reside within the eight-mile-long North Philadelphia HEZ. The zone spans from the beginning of Broad Street in the West Oak Lane section of the city to City Hall and includes four health systems, three of which are academic medical centers. Despite this, beneficiaries in zip codes around this corridor experience multiple health conditions and significant socio-economic barriers that result in high medical costs and utilization and chronic poor health.In June 2017, the Wolf Administration announced a $1.5 million investment in Philadelphia City community schools to leverage and connect schools to the large array of health-related services that are available for Philadelphia’s children who attend community schools in the North Philadelphia HEZ. This program continues to work toward new and innovative community-based approaches to coordinated health care and to reward strategies to minimize health disparities, improve health outcomes, and stabilize and reduce care costs.last_img read more

​BT veteran moves to USS as head of strategy coordination

first_imgIn her 20 years’ working in the industry, Graham has also worked at UBS, SBC Warburg and Progressive Alternative Investments, before moving to BTPS.A statement said her role would see her “managing the interlined developments across investment requirements, operations and risk control”. Kathryn Graham, a 10-year veteran of BT Pension Scheme (BTPS), is to join the Universities Superannuation Scheme in the newly created role of head of strategy coordination.Roger Gray, the £40bn (€48bn) fund’s CIO and head of USS Investment Management, said Graham would be a welcome addition to the unique scheme.“Increasingly, we are taking a whole-scheme view to investment and risk management,” Gray said, “and, through the development of this role, we hope to achieve greater synergies amongst our various asset classes and managers to deliver the most effective investment strategy.”  Graham, who most recently was head of special projects at BTPS, said the university fund’s “willingness to work between the traditional and alternative asset classes” made it one of the more interesting institutional investors.last_img read more

Gold Coast development: East on the Broadwater set to launch to the market

first_imgEast on the Broadwater will be built on a 1143sqm site on Marine Pde, Biggera Waters.A BOUTIQUE residential apartment project overlooking the Gold Coast Broadwater has being given the green light.East on the Broadwater will be built on a 1143 sqm site on Marine Pde, Biggera Waters, opposite the foreshore.The seven-level development will include 12 three-bedroom apartments.After success in the Sydney market buoyed by its customer-centric design philosophy, developer Pex Projects has moved its operation to the Gold Coast. Family buys $2 million house for Uber East on the Broadwater will be built on a 1143sqm site on Marine Pde, Biggera Waters.“East represents a rare opportunity to secure a brand new apartment with uninterrupted Broadwater views that cannot be built out on Marine Parade,” Mr O’Connor said.“These apartments surpass our design brief of being very large with heaps of natural light and great ventilation, plenty of storage space, quality detailed finishes and private open space. “The homes have also been designed to allow you to grow old, with level floors, wide corridors and extra wide doors throughout. “All this in a secure, boutique sized building with low ongoing maintenance and strata costs.” MORE NEWS: How’s the serenity? Coast ‘castle’ hit the market East on the Broadwater will be built on a 1143sqm site on Marine Pde, Biggera Waters.“Buying off the plan can be a daunting and unsettling experience for some, so we decided to do something about this by providing an interactive experience for our early buyers,” Pex Projects director John O’Connor, a civil engineer by profession, said.“We offer those who join us during the detailed design stage, before construction commences, the opportunity to influence the design of their home. We work with them over a period of time, to explore and influence a number of elements in their apartment design such as floor plan layouts, kitchen designs, joinery details, floor coverings, through to lighting and power point locations.”More from news02:37International architect Desmond Brooks selling luxury beach villa14 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoDesigned by Sydney based architects Greenbox Architecture, East on the Broadwater features two 260 sq n apartments per level. Each apartment has Broadwater views from each bedroom and views from the open plan kitchen and lounge, through floor to ceiling sliding doors leading out onto the front balcony. The main 3m deep balcony allows residents to enjoy the tropical Coast climate and waterside entertaining all year round.Resident facilities include a communal barbecue area, along with secure basement carparking, with two car parks per apartment.East on the Broadwater is set to be released to the market in the coming weeks.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p360p360p216p216pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhy location is everything in real estate01:59last_img read more

Reorganizing for a new era

first_imgThe Industry Contribution is a new section in which the oil and gas industry companies share their project endeavors or analyses. This article was produced by DNV GL and does not necessarily reflect the view of OffshoreEnergyToday.com. No member of the editorial team took part in creation of this article. Please contact us at [email protected] for inquiries. 1 www.iea.org, World Energy Outlook 2016: https://bit.ly/2iEWUUh2 www.ft.com, https://on.ft.com/2iW7Yeg3 www.ft.com, https://on.ft.com/2jBC8EZ4 www.iea.org, Key World Energy Statistics: https://bit.ly/2jc6lHf5 https://nelhydrogen.com/about/#business6 www.economist.com, A tricky time for oil producers: https://econ.st/2iHREus7 www.economist.com, A tricky time for oil producers: https://econ.st/2iHREus8 www.bloomberg.com, OPEC Deal May Lead to Increased Oil and Gas M&A: https://bloom.bg/2iWc9H09 www.bloomberg.com, 2017 A Year of Transition for Oil: https://bloom.bg/2k49l8f10 www.bloomberg.com, We’ll See More Oil and Gas M&A This Year: https://bloom.bg/2iNnaai11 www.bloomberg.com, Oil and Gas M&A Seen Accelerating: https://bloom.bg/2jn8654 By DNV GLOil and gas companies are actively seeking to rebalance business portfolios and reorganize for the future, according to DNV GL research on the outlook for the industry this year. There is greater debate than ever – and more uncertainty – about when oil demand will peak. The International Energy Agency (IEA) suggests 20401 and OPEC says 2029,2 while some believe it will be earlier, even as soon as 2021.3Beyond cyclical patterns, there are signs that recent years could be the beginning of a new reality for oil and gas companies. Much of the industry is now focused not just on surviving the low prices, but also on reorganizing for a new era. The key consideration though, is how rapidly we are moving into that new era.“There are definitely some deflationary trends in the energy industry that are new, such as renewables and shales,” says Maarten Wetselaar, director for integrated gas and new energies at Shell in an interview for the DNV GL’s study, “but these are limited in the effect they can have in the near-term.” He cites the fact that renewables are restricted to applications that can be electrified, with electricity currently providing only 18% of the world’s energy.4 “While we see growth in electrification, it won’t happen overnight. And the deflationary impact of shales, while significant, is also limited, given the size of overall oil and gas production,” he says.Focus on diversificationOne of the most striking findings of DNV GL’s research, is that half (49%) of senior oil and gas professionals surveyed on the outlook for 2017 say their organization is likely to diversify into (or invest more in) opportunities outside of oil and gas .“Diversification is definitely something that every player in the industry is looking at,” says Eirik Wærness, senior vice president and chief economist at Statoil in an interview for DNV GL. “Whether it is to diversify across the value chain or into other energy sources, companies are trying to make future cash flow less dependent on variations in the oil and gas price.”Manufacturers report the strongest intentions in this regard, with 61% likely to invest outside oil and gas. Meanwhile, 57% of midstream companies are gearing up to cross industry boundaries. Even among primarily upstream companies – which arguably have the least transferrable capabilities – 40% are likely to invest or diversify away from oil and gas in 2017. These high numbers signal a major shift in long-term strategies in the industry.The rise of renewables Investing in renewable energy sources is an obvious choice for many companies. Particularly as prices have fallen to the extent where, in most cases, subsidies are no longer necessary for these energy sources to be profitable.4 In our survey, 26% of respondents expect their renewable energy investment to increase in 2017, and 41% say that their organization has a good understanding of how to assess investments in renewable technologies.“Companies across the spectrum are redesigning themselves as energy companies – not just as oil and gas companies,” says Christoph Frei, secretary general and CEO of the World Energy Council in an interview for DNV GL’s research. “Many have started talking about their ‘energy blend’ – increasing the importance of renewables and electricity.”Norwegian manufacturer Nel, for example, is to build and install up to seven hydrogen-making plants to H2V Product, a subsidiary of France’s Samfi-Invest, an independent family-owned investment house. These power-to-gas units will inject hydrogen into France’s public gas grid as a substitute for natural gas. It is a way of storing surplus power and will help over years to decarbonize France’s gas supply.5Total’s 2016 investments in solar power and batteries reflect this widespread trend of operators and national oil companies increasingly directing funds into renewables.6 In the short term, however, it is difficult to see renewables becoming a significant source of revenue for oil and gas companies. As DNV GL’s Graham Bennett says, “We need to recognize that we’re talking about small investments relative to a typical oil and gas project and the overall capex portfolio of the oil and gas operators.”The renewables trend is complicated by uncertainty around peak demand. When should an oil and gas company plant the seeds of a new renewables business if they want it to bear fruit at the right time? “Companies need to maintain a certain level of investment in renewables,” says Ye Hua Huang, deputy director-general at the China National Offshore Oil Cooperation(CNOOC) Bohai Oilfield Bureau in an interview for the DNV GL report. “If you don’t, you lose the existing market and you lose the chance to be a major player in the future.”With the energy mix expected to become more diverse in the next few decades, DNV GL continue to invest in solutions and research to support technology development and integration of hydrocarbons and renewable energy sources to support future energy transitions. Currently DNV GL is leading a joint industry project (JIP) working on processes to enable the addition of hydrogen to natural gas. The project, named HYREADY, will enable the industry to ‘be ready for hydrogen’ by developing practical processes and procedures for the introduction of hydrogen to existing grids.  A DNV GL-led JIP on wind-powered water injection solutions to maximize oil recovery is also underway and currently in its second phase undergoing extensive physical lab testing.Challenges and opportunities in consolidationCompanies are also looking at mergers and acquisitions (M&A) as a way of reorganizing for the future, according to DNV GL’s research. Shell’s USD54bn acquisition of BG Group was a prominent example of this, reflecting the company’s expectation that growth prospects in gas are better than in oil, as well as its strategy of increasing the scope of its downstream business.7One-third of our survey respondents (33%) expect their organizations to increase M&A activity in 2017 – a considerable jump from 2016’s already significant 23%. Overall, 78% expect increased industry consolidation in the year ahead, which is a continuation of the trend from 2016, when 72% expected the same.Analysts from Credit Suisse,8 Wood Mackenzie9 and Goldman Sachs10 have also suggested that 2017 could see a significant increase in M&A activity in the industry. “Because there is such a pressure on margins, there will be continual opportunities for companies with strong balance sheets to look for opportunities,” says Thore E Kristiansen, chief operating officer (E&P) and executive director at Portuguese integrated energy company Galp Energia, in an interview for the research. “I see this trend continuing in 2017 – possibly with greater urgency because buyer and seller expectations are getting closer.”DNV GL is seeing increasing demand for its global technical, commercial and financial due diligence services as oil and gas industry consolidation continues.“Scrutiny of capital and operating expenditures and liabilities is intensifying as expectations rise that mergers and acquisitions in the oil and gas sector will accelerate” says Viken Chinien,head of due diligence at DNV GL in London, interviewed for the industry magazine PERSPECTIVES.“You need to know precisely what is being sold, its condition, and the commercial, technical and environmental risks involved and analysis can help reduce risk, increase value, and lower transaction costs.”Successful M&A will depend on greater consensus around valuations. The past few years have played havoc with people’s confidence in what assets are worth and how to calculate future earnings.11 “It is difficult to negotiate deals that depend on future oil prices,” says Eirik Wærness, “when nobody knows what the price is going to be, or how long the downturn will last.”last_img read more