Oil prices rose in early trading hours as US stocks surprisingly fell further, but gains were overturned as traders seem to think it’s a good time to cash in
While the oil market expected crude inventories to finally rise, the EIA report of yet another draw last week helped prices rise even further in early trading, with Brent stunningly hitting a new high in years. The storage level of crude oil is the lowest in years in the largest US hub and that caused […]
The month-long run-up in commodity prices shows no sign of easing with the main engine continuing to be the global energy crisis and its direct impact on other sectors, not least the energy-intensive industrial metal sector. Shortages of fuel leading to record-high prices has forced reductions in metal production from China to Europe, thereby exacerbating […]
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Operational technology is increasingly coming into the cybersecurity spotlight, with OT and IT converging, it could represent a major risk for oil and gas companies with thousands and thousands of physical assets, many of which are connected. Many of those assets are back of mind, like old equipment still in the field, routers, and assets […]
He explained that achieving comprehensive industrial development in the GCC states will reflect in enhanced production efficiencies and higher quality outputs
Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, expressed the UAE’s desire to deepen cooperation, coordination and knowledge exchange in support of the GCC’s economy, especially in the efforts to integrate advanced technology, innovation and 4IR technologies into its industrial sector. His Excellency Dr. Al Jaber also commended the cooperation […]
Oil prices declined today as traders are pricing in an expected build in US crude oil stocks and China’s intent to lower coal prices
Traders are today pricing in the first bearish developments for the oil market in a while, the expected build in US crude stocks and China’s intent to normalize coal prices – which in turn will limit coal to oil switch for power generation. Prices are declining today and the depth of the dive will very […]
The Dubai Supreme Council of Energy has launched the Circular Economy Committee, which will bring public and private entities together to boost the circular economy
The Dubai Supreme Council of Energy launched the Circular Economy Committee, which aims to bring private and public entities together to push cleaner energy applications, according to a statement posted by UAE state news agency WAM. “We aim to develop and launch innovative tools and initiatives in collaboration with our strategic partners to promote the […]
Jonathan Fisher QC writes that Petrofac's real punishment has been served in the Middle East, not in London
The recent fine imposed on Petrofac by a criminal court in London for corrupt dealings is intended to send a clear message to the business community. But the real punishment suffered by the company has been inflicted by the impact of its conduct on its commercial dealings. Instead of benignly acquiescing in the receipt of […]
Even though this involves some risk, tech-savvy businesses understand that today's investment can shower massive returns in the future
The upstream oil & gas industry is investing heavily in search for new reserves or resource plays, new extraction technologies, and advancements in operational automation. Even though this involves some risk, tech-savvy businesses understand that today’s investment can shower massive returns in the future. Regardless of the asset type, the need of the hour is […]
The US is expected to lead North America’s planned and announced gas processing capacity additions projects over the next 5 years , contributing approximately 65% of the regions gas processing additions by 2025, according to GlobalData, a leading data and analytics company. The company’s latest report, ‘Gas Processing Industry Outlook in Europe, North America, and […]
On 17 October we will gather experts to shine a light on Shadow OT and oil and gas cyberseccurity
Operational technology is increasingly coming into the cybersecurity spotlight, with OT and IT converging, it could represent a major risk for oil and gas companies with thousands and thousands of physical assets, many of which are connected. Many of those assets are back of mind, like old equipment still in the field, routers, and assets […]
