Join us on 17 October for a free webinar on addressing the hidden risks of Shadow OT on oil and gas cybersecurity
As operational technology and internet technology become increasingly entwined, oil and gas companies must prepare for the risks presented by Shadow OT–operational technology that can expose oil and gas companies to cybersecurity risks and cause major production and safety issue. The real danger is in the fact that most companies will not know where it […]
The energy transition has upset the outlook and changed the rules of the game for the industry, Wood Mackenzie says
Wood Mackenzie’s Global Energy Summit Upstream Focus Day has addressed some of the biggest issues facing the industry. How will the upstream industry use an incoming US$1 trillion price windfall? Should Asian governments be doing more to resuscitate declining gas production? And what is the future for exploration in this region? In previous upcycles the […]
Over a total of 200,000MT of cargo carried through Russian Inland Water System to Tengiz field
P&O Maritime Logistics, a Dubai-based marine solutions and logistics company, has completed a three-year long project supporting the development of the Tengiz field in Kazakhstan, one of the world’s six largest oil fields, an entire season ahead of schedule. In 2016, P&O Maritime Logistics entered a consortium with Blue Water Shipping to provide a unique […]
Oil prices are fluctuating on Wednesday, with the projected market tightness driving them to new multi-year highs in the morning. Later in the day, API projections that crude stocks rose in the US spread concerns over the speed of the rally, with prices being trimmed back
Oil prices are currently that high that they carry quite some risk for traders, with today’s wild fluctuation illustrating their fragility and vulnerability to market developments. As Monday’s OPEC+ policy decision does not relieve the market tightness further in coming months, oil prices continued their stunning rally this morning. Despite the bullish morning, the API […]
Oil prices continued to rise on Tuesday, a day after the OPEC+ meeting kept its supply comeback plan unchanged, with traders pricing in further the tight market conditions.
The confirmation that OPEC+ would keep a cap on supply, instead of feeding the market with even more product and bringing it towards a closer equilibrium, drove traders into a buying frenzy for front-month Brent contracts, as the decision guarantees a tight supply picture in November and December. Is the growing oil price becoming an […]
Oil prices are largely unchanged today so far, as the market is waiting to see how the OPEC+ meeting will unfold before paving a new price direction
There was no lack of oil price swings last week, but the market is taking no risks before today’s OPEC+ meeting, waiting to see what the alliance plans for November before disturbing the price nirvana. Prices are staying largely flat as OPEC+ has the full attention of the oil market. What will shape prices going […]
Industry leaders to integrate AVEVA PI System with Agora edge technologies and cloud-based production solutions enabled by the DELFI environment from Schlumberger
Schlumberger and AVEVA plan to integrate edge, AI and cloud digital solutions to help operators optimize oil and gas production. The companies will work together to streamline how energy operators acquire, process and action field data for enhanced wellsite efficiency and performance. Initial focus of the collaboration includes linking edge systems to applications in the […]
Oil prices are declining today as the market prices in some uncertainty ahead of next week’s OPEC+ meeting and the surprise US crude stocks build of the past week
Oil prices are poised to close the week in a bearish track as traders were surprised by a build of crude stocks in the US and are pricing in reports that OPEC+ may consider an option to hike output more than planned in its coming meeting. Building inventories triggered an alarm for markets, especially at […]
Oil prices declined today as a result of an unexpected build in US stocks last week, but a bullish environment persists amid the winter energy crisis that boosts oil demand even for power needs
The oil price rally is taking a breather today as US crude stocks unexpectedly rose last week, a development the market was not expecting as weeks of continuous draws have been fueling the price rise. Despite the build, the overall trend of massive draws over the past weeks has still left US storage levels low […]
While Europe is limited by carbon regulations and operational constraints, Asia can burn oil in power plants with more flexibility
The recent rally in LNG prices in Europe and Asia has dramatically widened the economic incentive to switch from natural gas to oil in power generation. Steep carbon regulations and operational constraints limit Europe’s ability to burn oil in power plants, but Asia has more flexibility. If the gap between LNG and oil prices remains […]
