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DNV has launched a new collaborative research project to develop an automated data processing procedure for verification of detected wind turbine blade defects, with the aim of building trust and generating broader acceptance of automated data processing techniques across the industry and to inform future regulation. View the full article
The aim of the collaboration is to improve overall efficiency of the design and construction process, and of the asset lifecycle support services for projects in the offshore and marine industry. View the full article
With global costs of corrosion estimated at $2.5 trillion, the project aims to significantly enhance detection and monitoring methods of microbiologically influenced corrosion. View the full article
Urgent moves to bring forward the construction of “energy islands” – giant new offshore renewable energy conversion and transmission plants – are being supported by a major new safety advisory and assurance study. View the full article
A new forecast of the energy transition from DNV has warned that even if all electricity was ‘green’ from this day forward, the world will still fall a long way short of achieving the 2050 net zero emissions ambitions of the COP21 Paris Agreement. View the full article
Hydrogen has a crucial role in decarbonizing the world’s energy system, but uptake will be too slow. Governments need to make urgent, significant policy interventions, according to a new report by DNV. View the full article
Odfjell’s WindGrid is a solution for providing an uninterrupted power supply from Mobile Offshore Wind Units to micro-grids. It combines energy storage, grid converters and floating wind turbines in order to enable gas turbine generators to be shut down during peak wind power production. View the full article
The aim of the collaboration is to explore safe implementation of potential new technologies, working jointly with relevant governmental agencies to promote the introduction of hydrogen as an energy source in the Singapore market to support the country’s decarbonization goals. View the full article
The Denver Julesburg (DJ) Basin located in Colorado and Wyoming has experienced a constant decline since production peaked in November 2019. Reversing this trend will depend on the capital allocation from major oil and gas operators in this region, says GlobalData, a leading data and analytics company. View the full article
Offshore operators across the globe continue to push ahead with their Energy Transition strategies, seeking new, innovative ways to improve sustainability while simultaneously reducing costs and increasing efficiency. At Siemens Energy, we are seeing first-hand a willingness from customers to embrace new technologies and rethink traditional ways of working on a truly unprecedented scale. View the full article
The company notes that COVID-19 has been a wake-up call to the upheaval that a sudden drop in energy demand and/or labor availability can cause, and digital oilfield technologies such as digital twins and other remote monitoring solutions will be gamechangers in upstream oil and gas operations. View the full article
The U.S. may be heading into winter with the lowest stockpiles of heating oil to meet surging demand in more than two decades. View the full article
Shale driller Diamondback Energy Inc. is bracing for a 10% jump in costs next year amid supply-chain snarls rippling through the oil industry. View the full article
Devon Energy Corp., one of the biggest oil explorers in the Permian Basin, is getting into the sand business to combat rising costs. View the full article
Devon Energy Corp. agreed to acquire Validus Energy for about $1.8 billion in cash to expand in the Eagle Ford shale patch in South Texas. View the full article
Devon Energy announced it is establishing new environmental performance targets focused on reducing the carbon intensity of its operations, minimizing freshwater use, and engaging constructively with its value chain. View the full article
Devon agreed to acquire the leasehold interest and related assets of RimRock Oil and Gas, a Warburg Pincus portfolio company focused in the Williston Basin, for total cash consideration of $865 million. View the full article
Devon agreed to acquire the leasehold interest and related assets of RimRock Oil and Gas, a Warburg Pincus portfolio company focused in the Williston Basin, for total cash consideration of $865 million. View the full article
Even as problems with Europe’s vaccine program and a slowdown in Chinese crude buying sent futures down more than 7% on Thursday, data from around the world showed a steady, albeit patchy, recovery in demand. View the full article
Global oil demand won’t return to pre-pandemic levels until 2023, and growth will be subdued thereafter amid new working habits and a shift away from fossil fuels, the International Energy Agency said. View the full article
Rising global oil prices are translating into shortages at the pump in cash-strapped Lebanon, with motorists lining up for hours to fill their tanks in the latest blow to living standards in the Middle Eastern nation. View the full article
The U.S. Department of Energy issued two long-term orders authorizing an additional 0.5 Bcfd of liquefied natural gas exports from Golden Pass LNG in Texas and Magnolia LNG in Louisiana. View the full article
Denmark’s government wants to drop fossil fuels in domestic air travel by 2030 in its most recent push to meet its climate targets. View the full article
A Danish project to store captured CO2 in North Sea reservoirs that were once filled with oil and gas moved a step closer to becoming operational, after winning approval from new stakeholders. View the full article
Saitec Offshore Technologies and RWE achieved another milestone in the DemoSATH project with the successful completion of the launching operation of the floating unit. 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.