Author: Rigs & Barge World
In an oil and gas report sent to Rigzone late Monday by the Macquarie team, Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be down by 2.8 million barrels for the week ending March 21. “This follows a 1.7 million barrel build for the week ending March 14, with the crude balance realizing moderately looser than our expectations amidst strong implied supply,” the strategists noted in the report. “For this week’s crude balance, from refineries, we model crude runs down slightly (-0.1 million barrels per day) following a soft print last week,” they added. “Among net…
Shell Plc Chief Executive Officer Wael Sawan said the UK energy company will continue to look for potential acquisitions, but warned of the risks inherent in pursuing a major deal. Speaking in a Bloomberg TV interview Tuesday, he declined to answer directly if Shell would consider looking at its rival BP Plc, but said “the bar is high” for any transaction. Sawan said he expects smaller-scale, bolt-on acquisitions when the company does get around to M&A, and that they would likely center around upstream production. “If you’re going to go for a big acquisition, one has to recognize that that…
Oil market sentiment continues to improve, albeit very gradually and prone to reversals, after the lows hit during London’s IE Week in February. That’s what analysts at Standard Chartered Bank, including the company’s Commodities Research Head Paul Horsnell, said in a report sent to Rigzone late Tuesday by Horsnell, adding that the improvement has enabled prices to rise about $5 per barrel from their early-month lows. “We listed some of the reasons for the price upside in an earlier report, including technicals, geopolitical risk, and reappraisals of shale oil economics and global balances; the reappraisals imply that the potential sustainable…
(WO) – In many of the panels during CERAWeek 2025 by S&P Global—whose event boasted a record-breaking over 10,000 attendees this year—LNG cropped up as an ever-present staple of discussion. In many cases, such as the Leadership Dialogue with Chairman of the Federal Energy Regulatory Commission (FERC) Mark Christie, LNG was not only a staple of discussion but, in his view, a staple for present and future energy generation. “When it comes to the electric grid,” he said in his opening remarks, “we have a rendezvous with reality.” With the revolution of A.I. spawning data centers across the…
FourPhase, a Norway-based solids and production performance specialist for the oil and gas sector, has launched The Observer™ an advanced real-time data capture and optimization tool. Already deployed in five operations across the Gulf of Mexico and the Norwegian Continental Shelf, The Observer™ is set to be rolled out across all FourPhase operations, enabling full remote monitoring. The Observer™ aims to address three key industry challenges: reducing downtime through informed decision-making, optimizing equipment maintenance, and facilitating the transition to remote operations. By capturing real-time data to generate a live operational display in FourPhase’s operations center, the data then…
(WO) – Quorum Software, a leading provider of energy software worldwide, today announced that it has acquired zdSCADA, an established leader in cloud-based supervisory control and data acquisition (SCADA) technology. This acquisition enhances Quorum’s comprehensive Upstream On Demand suite, integrating best-in-class SCADA to provide real-time well data for production management. The addition of zdSCADA complements Quorum’s industry-leading FLOWCAL measurement software and Coastal Flow measurement services, enhancing its end-to-end digital oilfield capabilities. By combining zdSCADA’s advanced capabilities with Quorum’s industry-leading upstream and measurement solutions, operators will benefit from optimized production and measurement operations, improved efficiency, and enhanced digital connectivity between the field…
There is significant potential for growth in heavy industries such as manufacturing — but that potential takes effort to exploit. One of the reasons that some companies struggle to achieve the growth they want is that their business practices aren’t optimized to drive and support effective development.Some focus and planning in a range of operational elements can be useful, no matter what stage of your growth cycle your business is in. It’s well worth exploring these to find which you can implement, even if there are steps you’re taking that you can better streamline. Embracing Process ImprovementHeavy industries are frequently changing.…
The much-used shortcut between the Pacific and Atlantic will reward those customers ”who are leading the transition toward a more sustainable future”. Source link
China has told state-owned firms to hold off on any new collaboration with businesses linked to Li Ka-shing and his family, according to people familiar with the matter, after the Hong Kong billionaire irked Beijing with his plan to sell two Panama ports to a global consortium. Source link
Independent energy company Nostrum Oil & Gas PLC has said that its unit Zhaikmunai LLP agreed to continue processing third-party hydrocarbons delivered by Ural Oil & Gas LLP under new terms until May 2031. Ural O&G operates the Rozhkovskoye field, just 20 kilometers (12.4 miles) from Zhaikmunai’s processing facilities in northwest Kazakhstan. Rozhkovskoye is a joint venture between NC KazMunayGas (50 percent), MOL Group (22.5 percent), and FIOC-Sinopec (27.5 percent), Nostrum noted. Earlier agreements signed in 2018 concerning the processing of raw gas and liquid condensate from Ural O&G are due to expire in December 2027. The new processing agreement, starting from…