Weatherford and Lytt Join Forces to Deliver Digital Boost for Energy Assets
LYTT, a provider of real-time insights to energy asset operators through intelligent sensor data extraction and acoustic fingerprinting, and Weatherford, a leading global energy services company, have signed an international collaboration agreement. The collaboration will target all lines of business, industries and platforms and combine LYTT’s proprietary sensing insights with …
Rystad Energy: OCTG Prices on the Rise; Lithium Maintains its Recent Upward Momentum
A rich combination of strong demand and supply tightness in the US OCTG market is driving prices upwards this week. Seamless casing from US mills has experienced around a $70/NT month-on-month increase. Drilling activity continues to increase, triggered by higher oil and gas prices, and further growth is likely in …
Rystad Energy: Good News for Global Gas Supplies Helps Steady Prices
Global gas market sentiment is skewed bearish this week due to milder weather in Europe and more LNG supplies coming over the horizon. However, the downside risk is balanced by continuing concerns over Russian supplies to Europe and the potential for winter to follow the market into March, especially in …
Weatherford: ReStructures Under 3 Business Lines – Drilling and Evaluation, Well Construction and Completions and Production and Intervention
Weatherford International plc announced today a segment recast by quarter for the full year 2020 and through the third quarter of 2021. Effective the fourth quarter of 2021, Weatherford realigned its reporting structure to three product line segments (1) Drilling and Evaluation (2) Well Construction and Completions, and (3) Production and Intervention. …
TGS: Today Reported iInterim Financial Results for Q4 2021
Net IFRS revenues amounted to USD 105 million in Q4 2021, compared to USD 143 million in Q4 2020. EBITDA was USD 69 million, and the operating result was USD -101 million, compared to USD 127 million and USD -25 million, respectively, in Q4 2020. Net segment revenues (1) amounted …
Advanced Testing at the Roxtec Fire Lab
The Roxtec fire laboratory in Karlskrona, Sweden, is equipped for safe and extensive fire resistance testing. The lab enables continuous development of certified safety products as well as testing of cable and pipe transits to specific needs. “You can develop great solutions, but it’s no use if you can’t verify …
Rystad Energy: Oil Markets Steady, Awaiting Supply News
Oil markets are walking a tight rope today as the specter of the Omicron variant appears to be waning in many parts of the world, encouraging countries to relax restrictions and boosting crude demand as a result. Rising demand often comes hand-in-hand with upward price movements, but a long-awaited supply …
Rystad Energy: Russia-Ukraine Tensions could Jeopardize 30% of European Gas Demand – US LNG can Play a Role in Bridging the Gap
An escalation of military tensions between Russia and Ukraine could put up to 155 billion cubic meters per year of natural gas imports to Europe at risk, if the conflict causes Russia to halt deliveries, Rystad Energy research estimates. The figure corresponds to 30% of Western Europe’s annual gas demand. …
Engineering Solutions for Evolving Markets Delivers Record Year for Air Control Entech with Further Growth Planned in 2022
Air Control Entech, the certified remote inspection technology specialist, is successfully reinventing robotic remote inspection in the oil and gas industry – and it’s proving to be a lucrative move. The company has just announced a record year for business in 2021 with plans for further growth this year, more …
Ingersoll Rand: Liftchain Hydraulic BOP Handling Systems
Driven by reliable hydraulic gear motors, Ingersoll Rand’s Liftchain Hydraulic BOP Handling systems are well suited for both offshore and onshore applications. Their all steel construction, corrosion resistant load chain and marine grade paint further adds to their exceptional durability making Liftchain Hydraulic BOP Systems tough enough to survive harsh …