Author: Rigs & Barge World
The price of crude oil remained remarkably stable throughout the week, despite ongoing volatility in Syria and a deepening energy crisis in Iran, which holds the world’s fourth-largest proven oil reserves.Analysts had anticipated a modest surge in oil prices due to the swift military advancements by rebels in Syria. These forces, making rapid progress towards Damascus with little resistance, initially suggested potential disruptions. However, as the situation on the ground stabilized, the energy markets quickly settled back into their familiar patterns, with prices showing little fluctuation. Source link
Buffeted by industry headwinds, Advanced Petrochemicals slipped to a $69mn loss in 2024, its first such loss since it started operations in 2008 (see chart). The loss comes as the Saudi-listed firm prepares to start up operations in the coming weeks of a major new petrochemicals complex in Jubail which should help bolster its financial performance this year. Read this article for free Gain access to over 60-years of energy analysis and news Delve into the details backed by data Exclusive information from high-level officials Assess future risks and opportunities Source link
Media release: Locking gas out of Capacity Investment Scheme risks higher power prices and blackouts | Australian Energy Producers Skip to content Source link
China, facing a confluence of economic headwinds, including sluggish growth, rising youth unemployment, and a struggling property market, recently unveiled a $411 billion stimulus package. While hailed as a potential lifeline, the focus appears to be more on debt management, particularly for local governments and the ailing property sector, rather than direct economic growth stimulation.The stimulus, largely in the form of special treasury bonds, aims to address dwindling consumer spending and deflationary pressures. However, analysts remain cautious, citing the potential for short-lived impacts. The burgeoning electric vehicle market, a key government priority, is expected to dampen long-term oil demand, even…
The Federal Government’s decision to delay its assessment of the North West Shelf extension is a blow to Western Australia’s energy security and another example of how our national environmental laws are failing. Australian Energy Producers Chief Executive Samantha McCulloch said the North West Shelf project has been powering WA homes and industry for 40 years and will play a critical role in the state’s future energy security and economic prosperity. “After six years of environmental assessment and having secured state government approval, there is simply no justification for further regulatory delays,” Ms McCulloch said. “This is yet another example…
1: Saudi Arabia’s Monthly Oil Export Revenues ($bn) Rebounded To An Eight-Month High In January As Arab Light Prices Rose Back Above $80/b 2: Saudi Arabia’s Voluntary Production Allocation* Set To Gradually Increase From April (mn b/d) 3: Saudi Export Revenues From India, Japan Have Been Rising Markedly In Recent Months ($bn) Source link
With less than 3 weeks to go before the inauguration of the second Trump administration in the US, analysts in the energy sector are eagerly looking forward to hearing what the president-elect Trump will spell out with regard to his energy policies.During the campaign, President Trump, time and again, promised to halve the cost of energy for the average US consumers, while identifying the former as the root cause behind the rampant inflation.His solution was not rocket science; on the contrary, it is letting the central pillar of economics take care of itself: produce more fuel, flood the markets and prices will…
Oil prices have been on the rise just 10 days before the inauguration of the second Trump administration. The energy markets that thrive on speculations and sentiments usually fail to gauge the combination of the latter in order to come up with a reliable forecast in the long run; in this context, the current rally will not spell out a booming oil markets in the coming months, despite the hype.During the past two weeks, there was a considerable volatility in the oil markets with a notable uptick in the oil prices: as of 17:00 GMT on Friday, January 10, the prices…
New economic analysis by KPMG reaffirms the critical role of the Australian gas industry in powering the national economy, contributing $105 billion annually and supporting 215,000 jobs. The ‘Economic Contribution of the Gas Industry’ report, commissioned by Australian Energy Producers, provides a snapshot of the gas industry’s economic contribution using the latest Australian Bureau of Statistics data. The analysis shows the Australian gas industry is the most productive sector in Australia, delivering $2.8 million in value-add to the economy per full time equivalent (FTE) worker. It also found the sector contributes $85 billion directly to the economy annually, which represents…
Rotary system is responsible for rotating drill string. Drilling rig may have either TDS (Top drive system) or Kelly-swivel to transmit rotation to drill string. Rotary system components are TDS or kelly and drill string. The parts of drill string are drill pipe, heavy weight drill pipe, stabilizer,drill collar, x/o, bit sub and bit. TDS Vs Kelly Swivel Top drive rotate drill string from top where as kelly system rotation is provided at rig floor with help of rotary table.Top drive capable to drill with one stand of drill pipe and kelly can drill with one drill pipe. Therefore kelly…