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After constricting AI to mostly back-office tasks such as evaluating seismic surveys, while keeping drilling and hydraulic fracturing firmly in human hands, U.S. operators are increasingly adopting the emerging technology to boost more mainstream work. View the full article
(WO) — A surge in energy demand from technology giants that are rapidly developing cloud computing and artificial intelligence — known as hyperscalers — is becoming a major boon for the fossil fuel industry. View the full article
Belgian and Danish government representatives have entered into a ground-breaking agreement to enable captured CO2 to be shipped across their borders to be permanently stored in a sandstone reservoir 1800 meters beneath the seabed of the Danish North Sea. View the full article
The agreement’s scope is to deliver human resources solutions for Repsol’s multi-disciplinary resourcing needs in areas such as drilling and wells, geology and subsurface, HSE, logistics, operations, maintenance, decommissioning, administrative support and cost control. View the full article
A key driver for achieving this milestone is increased demand for flare gas to power projects, as well as Aggreko’s innovative approach to monetizing stranded gas assets. View the full article
Aggreko, a provider of mobile, modular power, temperature control and energy services, completed a 10MW flare gas to power project, the largest in Africa, to lower its total cost of energy and lessen emissions from the oil field. View the full article
Yemen’s Houthis said they attacked several of Saudi Aramco’s facilities with drones and ballistic missiles on Friday, the latest in a spate of strikes on Saudi Arabia’s oil infrastructure. View the full article
The inauguration of the Nigerian National Petroleum Company Limited initiates a monumental shift in active engagement, accountability and value that is expected to reshape Nigeria’s petroleum industry, while simultaneously acting as a model for other National Oil Companies on the continent. View the full article
In honor of the late H.E. Muhammad Sansui Barkindo – oil industry veteran and former Secretary General of the Organization of Petroleum Exporting Countries (OPEC) – the African Energy Chamber renamed its African Energy Week Lifetime Achievement Award to the Mohammad S. Barkindo Lifetime Achievement Award. View the full article
U.S. companies stand to play a significant role in the road to a lower-carbon future in the continent, and to continue leading some of the most important markets in the energy industry. View the full article
U.S. companies stand to play a significant role in the road to a lower-carbon future on the continent, and to continue leading some of the most important markets in the energy industry. View the full article
The Oman-based land seismic acquisition company will use Stryde systems to obtain better high-definition images for oil and gas exploration across several projects. View the full article
African hydrocarbon producing countries are increasing oil and gas licensing rounds to be able to stabilize supply of hydrocarbons in years to come to meet growing energy demand as output in legacy projects declines. View the full article
Aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas projects, as well as energy developments across the entire value chain. View the full article
AFG Holdings, Inc. announced that its Board of Directors has appointed Michael Walter as Chief Executive Officer, effective immediately. Mike succeeds Curtis Samford following his unexpected passing in February. View the full article
Tellurian Inc. and Aethon Energy Management LLC announced an agreement for Aethon to acquire Tellurian’s integrated upstream assets for $260 million, alongside a Heads of Agreement for Aethon to purchase 2 MMtpa of liquified natural gas from Tellurian’s Driftwood LNG plant. View the full article
ADNOC has signed several new long-term LNG sales commitments with international partners, including for the delivery of 1 million tonnes per annum (MMtpa) with Shell and 0.6mtpa with Mitsui & Co., taking the committed Ruwais LNG production capacity to 70%. View the full article
the digital solutions implemented onsite at SARB allow the field to be operated remotely from Zirku island, 20 km away. Remote monitoring, smart well operations and production management technologies are integrated at the remote control center for optimized real-time decision-making. View the full article
The JV will allow the three companies to leverage leading innovations in AI, smart drilling design, completions engineering and production solutions. View the full article
The agreement is targeting at least 5 MMtpa of CO2 capture and storage capacity by 2030. Its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modelling, reservoir simulation and containment research while exploring the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity. View the full article
State-owned Aramco and ADNOC have been conducting preliminary evaluations of Santos as a possible acquisition target, the people said, asking not to be identified because the information is private. The Middle Eastern energy giants are investing billions of dollars in natural gas, which is seen as an important bridge fuel in the energy transition, especially in Asia. View the full article
Abu Dhabi National Oil Co. is seeking to raise about $750 million from its drilling unit’s IPO, in what would rank among one of the largest share sales in the United Arab Emirates. View the full article
The new target is part of ADNOC’s expanded In-Country Value (ICV) program which aims to drive an additional $49 billion back into the UAE economy by 2028. ADNOC’s previous 2027 target for local manufacturing of $19 billion worth of products was delivered ahead of schedule following the award of two contracts for metal pipes and valves worth $4.6 billion to local manufacturers. View the full article
Neuron 5 uses advanced AI models and deep learning algorithms to predict maintenance needs and monitor equipment performance by interpreting data, such as pressure, temperature and vibration, received from sensors on critical equipment. View the full article
Abu Dhabi National Oil Co. (ADNOC) will purchase the stake in the Area 4 concession from Galp Energia SGPS SA, it said in a statement Wednesday. Galp will receive $650 million, and further contingent payments of as much as $500 million when two planned development phases go ahead, the Portugese company said in a separate statement. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
