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Industry headlines

Russian oil export cuts are raising physical crude prices

Cuts from one of the world's largest oil producers helped to increase demand for other European grades and recently boosted their values in the market where actual barrels of oil are traded.

Canada’s oil transport shortage solved by new pipelines, reduced demand

The pandemic-induced oil crash prompted Canadian companies to cut about 1 million barrels of daily crude output, freeing up space on the country’s previously congested pipelines. With that produc...

TechnipFMC lands three subsea construction projects offshore Norway

The projects in scope are Breidablikk and the Gas Import System for the Snorre Expansion Project, for which contracts have been awarded, and Askeladd Vest, for which a letter of intent has been iss...

Fugro completes Middle East’s first uncrewed geophysical route survey

Controlled from their remote operations center in Abu Dhabi, an uncrewed surface vessel (USV) captured a full range of geophysical data across a survey area some 40 km out from the coast of Abu Dha...

A key element of Australia’s LNG ambitions is up for grabs

After more than three decades, the project that kick-started Australia’s push to become a liquefied natural gas powerhouse faces a shakeup.

Trendsetter introduces modular offshore intervention system

Trendsetter Engineering introduced its Trident Intervention System, designed for rapid reconfiguration in the field, providing the flexibility to conduct intervention riser, riserless wireline inte...

Oil’s big swing: How prices went from -$40 to +$40 in a matter of weeks

The renewed strength of the “physical market” for crude -- where actual barrels change hands between producers, refiners and traders -- is driving a surge in the much larger Wall Street world o...

Deloitte reports continued strain for shale producers, even as oil prices rise

Almost a third of U.S. shale producers are technically insolvent with crude at $35 a barrel, according to Deloitte LLP, highlighting the industry’s acute financial strain even as oil prices rebou...

Volatile oil prices hamper New Mexico’s plan to dominate U.S. shale

Just months ago, New Mexico, the third-biggest producer of U.S. oil, approved the state’s largest budget ever, paid for by an oil boom that made up 40% of the state’s revenues in 2019. Now that...

U.S. oil gaining appeal in Asia as OPEC+ suppliers limit output

Refiners in the top crude-importing region have been forced to accept big reductions in their regular contracted volumes from producers including Saudi Arabia and Iraq in the past couple of months....

Industry alerts

Gate valve bonnet failures from thermal expansion of fluids at high temperature - In a steam-assisted gravity drainage application, immediately after start-up, a gate valve bonnet failure caused a release of pressure to atmosphere. In thermal applications throughout the oil and gas industry, there have been incidents of valve failures during start-up. Resulting damage can include stretching studs and loss of pressure integrity between the body and bonnet. The main cause is pressure build-up in the gate valve cavity from thermal expansion of fluids, which was completely full and isolated. Such pressure exceeded the rated working pressure of the valve.

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Featured of the month

Company...

Baker Hughes

Baker Hughes provides the world's oil & gas industry with products and services for drilling, formation evaluation, completion, production and reservoir consulting. Baker Hughes operates in over 90 countries worldwide mainly based in countries with a mature petroleum industry as is the case with most oil & gas service companies.

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Technology...

Coiled tubing

Coiled tubing is a continuous string of tubing, rolled onto a spool. It is made from rolling strip material into a tubular form and resistance welding along its length. Coiled-Tubing (CT) continues to grow as an enabling technology that provides cost economy and time efficiency for the oil and gas industry. It has gained wider acceptance in all operations involved in oil and gas exploration.

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Article...

Flow assurance

Flow assurance is essential to the sustained operability of production facilities. Flow assurance failures often result in production shut-down and costly interventions. What operating environments does flow assurance typically pose a challenge? Almost all, but some are worse than others.

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Contributor...

Dr. Torben Lund Skovhus

Dr. Torben Lund Skovhus is Researcher and Project Manager at VIA University College in the Centre of Applied Research & Development in Building, Energy & Environment (Horsens, Denmark). Torben is currently chair of NACE TEG286X and ISMOS TSC an organization he co-founded in 2006.

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