Businesses reported the top IoT security threats were the mishandling or misuse of data by internal employees and external cyberattacks
The majority of oil and gas businesses face security challenges when deploying internet of things devices, research from Inmarsat found. The report, published Thursday and titled ‘Industrial IoT in the time of Covid-19’, found that 92 percent of oil and gas businesses believe their IoT projects could be more secure, while 58 percent also believe […]
Saudi Arabia, the world’s largest oil exporter, announced Sunday it would raise the price of crude oil by 80 cents up in January from the previous month.
Oil prices were up Monday to over $71 a barrel following an announcement that Saudi Arabia would increase the price of crude, signalling confidence in demand despite the spread of the omicron variant of Covid-19. Brent crude gained 2.1 percent to $71.35 per barrel, while West Texas Intermediate increased 2.35 percent to $67.82 per barrel […]
The field will make Saudi Arabia one of the world’s largest natural gas producers.
Saudi Arabian energy giant Saudi Aramco announced Tuesday that it would start the development of the Jafurah unconventional gas field, the largest non-associated gas field in the Kingdom. In addition, Aramco announced that it had awarded subsurface and engineering, procurement, and construction (EPC) contracts worth $10 billion. The capital expenditure of the Jafurah field is […]
Low salary ranked as the number one reason why workers in the region said they want to leave.
Nearly half of all energy workers in the Middle East are debating leaving the industry within the next five years, new research revealed. The global oil and gas industry has been upended over the past couple of years due to demand and supply issues caused by the Covid-19 pandemic. Now, issues may continue to plague […]
The world is still going to “need large amounts of fossil fuels” for a while yet, the minister added.
Countries in the Arabian Gulf have made big bets on green energy, but India’s oil minister says questions still need to asked as to who the consumer will be. “GCC countries in the region and elsewhere have … made very bold announcements to move into green energy and they want to be part of the […]
The only way to reduce emissions is with effective measurements, according to experts.
Making good use of the cloud-based technology and solutions will be an important tool for the energy industry as the sector continues to look for more ways to decarbonise and promote sustainability, experts told Oil & Gas Middle East. Sustainability has been a hot topic in the energy industry, with firms looking to promote the […]
Iran’s daily production capacity will reach four million barrels by March.
Iran has announced plans to pump more oil than it did before previous-US President Trump imposed additional sanctions, a top Iranian oil official said, Bloomberg reported. The comments were made just before a high-level nuclear talk with are likely to impact Iranian energy-market ambitions. “Plans are in place to increase oil output to more than […]
OPEC+ is due to meet next week, but so far prices have yet to fall despite Biden’s plan.
Oil prices held steady Thursday after OPEC announced that a planned release of reserves around the world could increase supply in early 2022, Bloomberg earlier reported. Futures contracts traded near $78 per barrel, after the Organization of Petroleum Exporting Countries’ (OPEC) Economic Commission Board made the prediction. On Tuesday, US President Biden announced the release […]
US President Joe Biden will release 50 million barrels of crude oil from the nation's Strategic Petroleum Reserve
On 23 November, US President Biden announced the release of 50 million barrels (mbbl) of crude oil from the US Strategic Petroleum Reserve (SPR). Wood Mackenzie vice president Ann-Louise Hittle said: “Of the release, 32 mbbl is a loan for delivery by end-April next year. The other 18 mbbl is a direct sale and […]
While most believe oil prices have a lot further to go, dissenting opinions remain.
Commodity analysts have been on a forecasting binge recently as oil prices climb higher amid surprisingly strong demand and unsurprisingly short supply. Most believe oil has a lot higher to go. Others have reason to doubt that. One of the “dissenters” is Citi’s Ed Morse, who earlier this week told Bloomberg that while prices will […]
