Rystad Energy: Oil Prices Soaring on Ukraine Conflict, Likely to Hit Near $130 by June
War has come to the heartland of Europe, and if the Ukraine conflict draws in the might of the Russian army and other interested and well-equipped forces, unconstrained upside risk to regional geopolitics and oil prices are highly likely in the near term. In the longer term, however, the demand …
Rystad Energy: NS2 Suspension to Further Tighten Global Gas Markets and Boost LNG Demand, Prices to Continue Climbing through 2023
Germany’s announcement that it has suspended the certification process of the contentious Nord Stream 2 (NS2) pipeline has thrown a geopolitical spanner in the works. The recently completed pipeline, which runs under the Baltic Sea from Russia to Germany, has sat front and center in the broader geopolitical conflict brewing …
eDrilling: in Project Initiative for Applying Well Control Software to CCS Wells
Full-scale CO2 storage demands comprehensive analysis and know-how on reservoir and formation to eliminate risks for leakage from the underground. However, it is less recognized that CO2 storage, like drilling for petroleum production, also represents a risk in terms of accident potential related to “blow-out” during drilling and considerable loss …
Baker Hughes: 2021 Annual Report Published
Baker Hughes has published its 2021 Annual Report. To read the report in full please CLICK HERE
Schlumberger: Introduces GeoSphere 360 3D Reservoir Mapping-While-Drilling Service
GeoSphere 360 service delivers real-time 3D reservoir insights to enhance reservoir understanding and optimize production potential Schlumberger announced today at the International Petroleum Technology Conference (IPTC) the introduction of the GeoSphere 360* 3D reservoir mapping-while-drilling service. The service leverages advanced cloud and digital solutions to deliver real-time 3D profiling of …
TAQA: Acquires Tendeka
At the inaugural day of the International Petroleum Technology Conference in Riyadh, the Industrialization and Energy Services Company “TAQA” announced it has signed an agreement to acquire TENDEKA, a UK-based engineering and manufacturing company with offices in Houston, Stavanger, Aberdeen, Dubai and Kuala Lumpur. TENDEKA specializes in offering reservoir monitoring …
TMK: Hosted a Meeting of PJSC Gazprom on Innovations in the Pipe Industry
The Scientific and Technical Center (STC) of the Pipe Metallurgical Company (TMK) in Skolkovo became the venue for a meeting of PJSC Gazprom on the application of innovative solutions in the production of pipe products. The participants of the meeting discussed promising areas of cooperation between Gazprom and companies in the …
InflowControl: Launches PAV-AICV® a Fully Closed System
InflowControl’s new PAV-AICV® (Pressure Activated Valve) solution is a world first for combining an autonomous inflow control device with a fully closed system. This builds on the industry leading autonomous inflow control technology to now offer operators a fully closed system to enable reduced time, reduced OPEX cost and enhanced safety …
Weatherford: Announces Fourth Quarter and Full Year 2021 Results
Weatherford International plc announced today its results for the fourth quarter of 2021. Fourth quarter 2021 revenues were $965 million, an increase of 15% year-over-year and 2% sequentially. Fourth quarter 2021 operating income was $33 million compared to an operating loss of $107 million in the fourth quarter of 2020 and operating income of $71 million in …
Rystad Energy: A Glimmer of Hope from the Iran Nuclear Talks Triggers a Late Afternoon U-turn in Prices
Positive news from the US-Iran nuclear negotiations is providing much-needed relief to global oil prices, as the possibility of new crude supplies reduces the supply-demand deficit. Rystad Energy is hosting a hybrid event in conjunction with International Energy Week (previously IP Week) in London on Feb 21, 2022. Register here …