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Australia’s largest independent oil and gas company, Woodside has inked a Heads of Agreement (HOA) with China-based ENN Group. The agreement requires Woodside to supply 1 million tpy of LNG from its portfolio for a 10-year duration, starting in 2025. The agreement which was signed during the LNG 2019 conference in Shanghai, comes on the backdrop of the cooperation agreement signed in October 2018.
CERAWeek's third day highlighted global economic trends, shifting geopolitics, emerging government policies and advances in technologies. The industry business leaders talked about current global LNG demand and the existing market players of the same. Further, Energy Company of the Future session helped to explore future opportunities in the LNG market. Another session, Future of Global Gas was chaired by Simon Blakey, advisor, global gas, IHS Markit.
During Day 2 of CERAWeek 2019, diversification, transformation and globalisation were some of the most talked about topics. Chevron's Chairman and CEO continued with the leadership dialogue and talked about the company's goals in the Permian Basin. The special feature of CERAWeek, Innovation Agora was all about energy innovation, emerging technologies and solutions. Pompeo talked about MESA and encouraged other countries to align with the US.
The 4-day long Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) commenced yesterday with the keynote speech by ADNOC's CEO. In his speech, His Excellency Dr. Sultan Ahmed Al Jaber said that the global oil and gas industry will be a critical enabler of economic growth in the 4th Industrial Age. ADIPEC is hosting more than 80 ministers, CEOs, and global oil and gas business leaders as speakers.
The 22nd biennial Offshore North Seas (ONS) conference saw Christopher Hoftun from ASCO, Norway talk about the dawn of new culture of innovation in the oil and gas industry. As leaders from the industry gathered in ONS for a 4 day conference, the Digitalisation and innovation manager for ASCO Norway laid emphasis on the digital transformation of the offshore supply chain industry.
The Offshore Northern Seas (ONS) conference & exhibition saw the unveiling of a new Gyro-surveying service by Schlumberger. The Houston-based oilfield services giant presented the MEMS gyro-while-drilling service that responds to the needs of E&P companies. While the GyroSphere sensor outperforms the conventional systems, avoiding recalibration between runs, the solid-state technology enables it to withstand the downhole shock and vibration.
Norway-based Resman AS has a new innovation to introduce in the industry at ONS this year. It has a new tracer technology which can accurately deliver zone-specific production data of well and also production trends. It can be useful in evaluation of well performance and production optimization. The company is also working on a real-time inflow tracer technology system which will provide zone-specific production rates and a lot more.
The Offshore Northern Seas (ONS) conference & exhibition currently being held in Stavanger, Norway, saw talks on operation efficiencies, yesterday. Saudi Aramco V.P. talked about innovation, by investing in both technology and talent. Chairman and CEO, Pioneer Natural Resources spoke of concentrating their effort in the Permian basin of West Texas. He also laid emphasis on having a great work culture in the organization.
Oil prices saw a variation on Monday owing to the warning from the finance ministers and central bank governors of G20 countries regarding the risk to global growth market due to increasing trade and geopolitical tensions. Brent crude climbed up and was traded at $73.09 a barrel whereas WTI went down and was traded at $68.18 a barrel. The ministers and bank governors met in Argentina last week.
Speaking at the Nigerian Oil and Gas conference in Abuja, Chevron Nigeria’s MD advocated the need of collaboration among the oil firms so as to realize sustained investment and growth in the oil and gas industry in the country. He stressed over the creation of an enabling environment for investment to prosper, all the while congratulating the Nigerian government for its efforts in the direction.
Abdulaziz Alhajri, downstream director at ADNOC addressed the largest R&D conference for the oil and gas industry, International Research and Development Petroleum Conference and Exhibition (RDPETRO) in Abu Dhabi. In his keynote speech he emphasised that increasing global demand for high-value refined and petrochemical products is creating new growth opportunities across the value chain, at a time when unlocking oil and gas resources becomes more challenging.
The Department of Economic Development (DED) of Abu Dhabi has announced support for the Start-Up Hub at RDPETRO, to be held during 9-10 May, 2018. It is the largest international oil and gas conference completely dedicated to research and development in this field and presents tremendous business opportunities for the emerging organizations.
In the ongoing Oman’s Oil and Gas Exhibition and Conference (OGWA) 2018, Siemens will discuss how digitization and technological innovation are helping in making oil and gas operations safer, efficient, reliable and cost effective. The senior officials at Siemens feel that the oil and gas industry is facing serious challenges along with intense competition.
India has proposed to build a pipeline from it’s east coast to deliver oil products to Myanmar. Zaw Aung, DG of the Ministry of Electricity and Energy’s oil and gas planning department said, “We have already connected (oil and gas) pipelines to China and Thailand, and we considered connecting (oil) pipelines to India as well as Bangladesh. This is under consideration to share petroleum products,” at the OTC Asia Conference.
President and CEO of Saudi Aramco, Amin H Nasser, expressed his company’s endeavors in actively pursuing and investing in innovative technologies at the annual CERAWeek conference in Houston. He also said that oil will maintain its key role in the global energy mix for the foreseeable future, despite the increasing growth of renewables. The growing world population requires the continuing development of several types of energy sources simultaneously.