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 […]
It’s that day of the month again and there is so much to take in from the OPEC+ meeting, as prices are rising on its outcome
Most markets participants were expecting OPEC+ to stick to the plan but – amid high prices and a tight supply environment – it appears traders have been cautious, pricing in an element of surprise before the meeting. The decision by OPEC+ to add the expected 400,000 bpd in November triggered a market reaction, as traders […]
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 […]
This marks the beginning of QP's massive LNG shipbuilding program
Qatar Petroleum has ordered four new LNG carriers from Hudong-Zhonghua Shipbuilding Group Co. Ltd. (Hudong), a wholly owned subsidiary of China State Shipbuilding Corporation Limited (CSSC). These four carriers are the first batch of orders in Qatar Petroleum’s massive LNG shipbuilding program, which will cater for future LNG fleet requirements for the North Field expansion […]
Gas prices are hitting new highs, but could impact supply globally
On Tuesday, 28 September, the price for gas in the European market broke the $1,000 per 1,000 cubic metres barrier for the first time ever. The price for October future at the TTF Hub reached $1,031 per 1,000 cubic metres. Several factors are perpetuating the unprecedented spike in the European continent: growing gas demand amidst […]
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 […]
Seventy-seven percent of Saudi organizations have moved business-critical functions to the cloud — including human resources (80%) and accounting and finance (60%)
Tenable®, Inc., the Cyber Exposure company, has published results of a study that found 86% of Saudi organizations suffered a business impacting cyberattack* attributed to vulnerabilities in technology put in place during the pandemic. The data is drawn from ‘Beyond Boundaries: The Future of Cybersecurity in the New World of Work,’ a commissioned study of […]
As of August 2021, Qatar has delivered a total of 715 LNG cargoes to China
Qatar Petroleum entered into a long-term sale and purchase agreement (SPA) with CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC), for the supply of 3.5 million tons per annum (MTPA) of LNG over a 15-year period starting January 2022. The SPA was signed during a virtual […]
