Rystad Energy: European Markets React to Russia-Ukraine De-Escalation, but Global Markets Remain Bullish
European gas prices are shaking off some of their recent volatility and reacting to the relative calming of Russia-Ukraine tensions as Russia announced the withdrawal of some troops from the border. Gas markets are taking heart from the Russian-Ukraine news, and TTF prices fell to just over $23/Mmbtu on Wednesday. …
Paradigm Drilling Services: Appoint Vice President of Business Development
Paradigm Drilling Services (Aberdeen, UK) has appointed Jim Profit as VP of Business Development to further accelerate its impact on the global oil, gas, and geothermal drilling markets. Jim brings with him 20+ years Oil and Gas experience, both locally and internationally. Specializing in technology and monitoring systems to improve …
Rystad Energy: Oil Markets React to Russian De-Escalation, but Relief Seems Temporary
In a classic knee-jerk reaction, oil markets are losing ground on news of a Russian de-escalation on the Ukrainian border. Russia’s claim of partially withdrawing troops from the Ukrainian border has slightly loosened the stranglehold the tensions have over the market, but the threat to supply persists, especially considering Russia …
Rystad Energy: OCTG Prices Continue to Rise
Increasing energy demand and a surge in North Sea exploration activity has increased the appetite for OCTG in the North Sea market, particularly in Norway, after a slowdown during the pandemic. The carbon OCTG and 13Cr OCTG markets are absorbing excess inventories and restocking for upcoming North Sea operations, a …
Fugro: Joins UN Ocean Decade Alliance to Advance Global Marine Science Agenda
Fugro has accepted an invitation from the Intergovernmental Oceanographic Commission of the United Nations Educational, Scientific and Cultural Organisation (IOC-UNESCO) to join the Ocean Decade Alliance (the ‘Alliance’). Comprising an eminent network of global leaders and institutions, the Alliance aims to catalyse support for the United Nations Decade of Ocean …
Ovation Data: Names Sam Loree New Chief Revenue Officer
Ovation Data, a leading data management services company, is pleased to announce the addition of Sam Loree as new Chief Revenue Officer (CRO). Sam’s focus and responsibilities will include sales team leadership accelerating Ovation Data’s direction by expanding their presence in new market segments, development of new channels, and contributing …
Rystad Energy: Oil at $100 Could Trigger an Additional 2.2 Million bpd of US Tight Oil Output by 2023
Up to 2.2 million barrels per day (bpd) of US tight oil could be unleashed in the event of a supercycle – with oil prices remaining around or above $100 per barrel – driven by growing demand and continued supply tightness, Rystad Energy predicts. Tight oil output in the core …
Dmitry Markov appointed Managing Director of STZ
The Pipe Metallurgical Company (TMK) has appointed Dmitry Markov as Managing Director of the Seversky Pipe Plant (STZ), which is part of TMK. Mikhail Zuev, who has been in charge of STZ since 2009, has been appointed Advisor to TMK’s CEO. Dmitry Markov began his career in the industry at the …
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 …