Author: Rigs & Barge World

In an interview with CNBC’s Jim Cramer, Nvidia CEO Jensen Huang and Cisco CEO Chuck Robbins described a fervor from world leaders to compete in the race for dominance in the burgeoning artificial intelligence sphere.”In no initiative and no foundational technology that I’ve ever known since the internet has the world and the leaders realized the importance of artificial intelligence to them,” Huang said. “And the reason for that is because no country wants to outsource and let somebody else advance their intelligence.”Robbins claimed that the Trump administration wants the U.S. to maintain its lead in the A.I. arms race.…

Alberta Premier Danielle Smith rejected any constraints on oil and gas exports to the US in her first meeting with new Prime Minister Mark Carney, renewing her criticism of Canada’s Liberal government as the country prepares for an election. Some Canadian leaders have suggested cutting or taxing energy exports to the US to strike back at President Donald Trump’s threatened tariffs. Smith leads the province that produces the vast majority of Canada’s more than 5 million barrels of daily oil output, nearly all of which goes to the US.   Smith said in an emailed statement that she made clear…

Water-repellent and waterproof fabrics are critical for workers in many different industries, including first responders, oil and gas workers, public safety officers, rail workers and construction workers, among others. These workers rely on the effectiveness of these garments to stay safe and to be able to perform their job duties; however, many of these garments have traditionally contained hydrofluorocarbons, fluorine, and per- and polyfluoroalkyl substances (PFAS), also known as “forever chemicals.” Although these durable water repellent (DWR) finishes provide excellent protection against moisture and stains, PFAS-based repellents may persist in the environment and can accumulate in human and animal tissues,…

Oil vigilantes have been found wanting. That’s what analysts at J.P. Morgan said in a research note sent to Rigzone on Thursday by Natasha Kaneva, Head of Global Commodities Strategy at the company. In the research note, the J.P. Morgan analysts noted that the term bond vigilantes has long been part of the market vernacular, “referring to the concept that if governments or central banks engage in excessive spending or policies that might lead to inflation or unsustainable debt levels, bond investors – through selling bonds – will seek to exert pressure on governments or central banks to adopt policies…

Elliott Investment Management LP complained Tuesday before Delaware’s Court of Chancery accusing Phillips 66 of “gamesmanship” in the run-up to the refiner’s yearly meeting of shareholders. “Despite Elliott privately requesting confirmation, Phillips has still not disclosed how many seats will be up for election or who its nominees will be, requiring Elliott to file a complaint in order to preserve its shareholder rights”, Elliott said in a statement. “The Company’s current gamesmanship around its directors follows the Company’s previous failure to honor its representations made to Elliott – dating back to February 2024 – that it would appoint a mutually agreed-upon director…

A secure supply chain is an advantage to all businesses that are a part of it. Minimal breaches mean that there’s less disruption to productivity and fewer physical and financial losses. It’s also an ethical priority, as communities often rely on supply chains to deliver essential goods.In the digital age, there are additional threats to the industries, but technology also presents solutions. Supply chain businesses need to understand the current risks and establish protocols that reduce both digital and physical vulnerabilities. There are a few key areas to explore that can safeguard your company and strengthen your entire supply chain. Making…

President Donald Trump on Monday issued an order allowing a 25% tariff to be imposed on any nation purchasing oil and gas from Venezuela, ratcheting up his dispute with the Latin American country over immigration with a move that risks roiling the global energy trade. The move aims to cut a major source of revenue for the regime of Nicolás Maduro in Caracas while also putting further pressure on China, which is a major purchaser of Venezuelan crude and already in the cross hairs for 20% tariffs under Trump. The US, meanwhile, is also a core buyer of Venezuelan oil, and Texas-based…

American Petroleum Institute (API) President and CEO Mike Sommers addressed the Economic Club of Pittsburgh where he discussed rising electricity demand driven by the artificial intelligence (AI) revolution and detailed policy solutions for the Trump administration and new Congress to power America’s energy future. “The scale of America’s energy need is breathtaking, and we have the opportunity to power that future,” Sommers said. “The electricity AI will need is unprecedented. By one estimate, if we want to keep the bulk of AI on American soil, we’ll need to dedicate about 51 gigawatts just to data centers. That’s equal to…

Canacol Energy Ltd. has reported $25.4 million, or $0.75 per share, in net loss for the fourth quarter (Q4), compared to a net profit of $29.9 million for the same three-month period in 2023. The natural gas exploration and production company, based in Canada but operating in Colombia, attributed the gap to a deferred income tax expense of $28.9 million for Q4 2024 and a deferred income tax recovery of $31.7 million for Q4 2023. However, Canacol’s adjusted earnings before interest, depreciation, amortization and exploration for Q4 2024 rose 43 percent year-on-year to $76.1 million, according to results published online…

North America cut 18 rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on March 21. Although the total U.S. rig count increased by one week on week, Canada’s total rig count dropped by 19 during the same period, taking the total North America rig count down to 773, comprising 593 rigs from the U.S. and 180 from Canada, the count outlined. Of the total U.S. rig count of 593, 576 rigs are categorized as land rigs, 14 are categorized as offshore rigs, and three are categorized as inland water rigs. The…