How the Oil Sector Can Truly Embrace Innovative Technology
Today, millions of employees are adjusting to remote work because of the coronavirus pandemic, which should ensure growing momentum in the oil and gas industry toward embracing new tech.
Occidental Petroleum Cuts Dividend Again, Now to 1 Cent
The company’s shares were down 5% after the news and have lost nearly 70% of their value this year.
US, Canadian Rig Counts Fall to Record Low
The U.S. oil and gas rig count, an early indicator of future output, fell by 17 to an all-time low of 301 in the week to May 29, according to data from energy services firm Baker Hughes Co. going back to 1940.
Best of This Week’s Drilling Activity Highlights (May 29, 2020)
Exxon Mobil’s latest find offshore Guyana and three extended-reach, horizontal producers completed by Gulfport Energy from a Grady County pad in Oklahoma top this week’s drilling activity highlights from around the world.
Aker BP Contracts Optime’s New Remote Tubing Hanger Technology
Aker BP will be the first user of the new technology Optime Subsea has developed that removes umbilical controlled tubing hanger operations, the company said on May 29.
E&P Production Tech Spotlight: Diagnosing Flow Downhole
Production logging is an essential resource for managing well and reservoir performance, but traditional methods only see half the picture.
Investors, Scientists Urge IEA Head to Take Bolder Climate Stance
Groups want the organization to align its June report with Paris accord goal.
COLUMN: US Crude Stocks Swell as Saudi Tankers Unload
If the increase is a one-off, it won’t affect a market that is quickly rebalancing.
OPEC Delivers Three-quarters of Record Oil Cut in May
On average, the 13-member OPEC pumped 24.77 million barrels per day (MMbbl/d) this month, the survey found, down 5.91 MMbbl/d from April’s revised figure.
Total Needs to Cover $12 Billion Shortfall due to Crisis, CEO Says
Total had expected the oil price to be about $60 per barrel this year, but as the price is now about $30, it will leave the company with a much bigger shortfall, CEO Patrick Pouyanne said.
Oil Industry Faces IT Challenges Amid the ‘New Normal’
Industry experts discuss how the downturn and pandemic are impacting IT and OT for the oil and gas sector.
Norway Plans $369 Million Green Industry Investments
The Norwegian government proposes spending 3.6 billion Norwegian crowns (US$369 million) on investments to make its economy greener as it gradually emerges from coronavirus lockdowns, the government said on May 29.