Tuesday, March 19, 2019

Business Intelligence News

Large Oil Firms Invest in Shale

Image: Rystad Energy

Oil majors are readying themselves for the energy transition by investing in shale and waiting for renewable technology to be economical, said Rystad Energy, energy research and business intelligence company.A recent review of 2019 capital budgets reveals that oil majors are the only group to increase shale expenditure…

Russian Share of European Gas Growing

Graphics: Rystad Energy

With gas supplies growing at a faster rate than domestic demand, Russia can increase pipeline and liquefied natural gas (LNG) exports to Europe, said a report.Russia’s gas production has been steadily increasing since the low of 611 Bcm in 2015, and reached 695 Bcm in 2018, according to a report form Rystad Energy, an independent…

US to Overtake Saudi in Oil Exports

Graph: Rystad Energy

United States will soon export more oil and liquids than Saudi Arabia, thanks to the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.According to Rystad Energy, energy research and business intelligence company, it is a a pivotal geopolitical shift. The US has for decades relied on large-scale imports to satisfy its thirst for oil…

US Shale Firms Cut CapEx, Up Production

Graphics: Rystad Energy

U.S. shale energy companies are cutting their spending levels in 2019, but they're still planning on increased oil and gas output."US shale companies expect to deliver an average of 15% growth in oil production in 2019 vs. 2018. At the same time, operators say they will cut capital spending by 5% this year," said an analysis…

U.S. Fracking Shrinks by 25% in 2H2018

Graph: Rystad Energy

The new median estimate for nationwide fracking activity in December 2018 suggests 36 frac jobs per day, said a research.The energy research and business intelligence company Rystad Energy revealed in a study that 25% contraction in fracking activity between the peak in May-August 2018 and the end of the last year.It should…

Wellit Partners with Norvestor

© Danial / Adobe Stock

The owners of software company Wellit have decided to sell 60 percent of company shares to private equity company Norvestor.Wellit develops logistics solutions for the global oil and gas industry. Its software, WELS, is a cloud-based multi-tenant platform tailored to the oil and gas industry.WELS enables all involved parties in the oil and gas value chain to communicate on one logistics platform…

ExxonMobil Shelves Canada LNG Export Project

U.S. oil major Exxon Mobil Corp has withdrawn its WCC liquefied natural gas (LNG) export project in Canada from an environmental assessment, it said on Thursday, signalling that the project has been shelved.The decision to pare its LNG project portfolio follows the decision by a Royal Dutch Shell-led group to build a giant LNG project in British Columbia to supply Asian customers…

Next-wave LNG Terminals get Smaller, More Flexible

Cheniere's Sabine Pass LNG Terminal (CREDIT: Cheniere)

The liquefied natural gas market is growing every year, but the terminals that ship and receive the fuel are shrinking. The booming sector's next-generation infrastructure is being designed for a emerging-market buyers that want smaller volumes on shorter, more flexible contracts. LNG export terminals, where the gas is liquefied and put on vessels for shipping…

What’s New in Floating Production? December 2016

© ggw / Adobe Stock

The December WER report examines whether OPEC’s decision to limit crude production will accelerate deepwater project starts over the next 12 to 24 months, given 3 billion barrels of oil stocks in global inventory, 5,000+ drilled-but-uncompleted shale wells in the U.S. ready to be fracked and likelihood that producers will cheat on output quotas.

Shell, Rolls-Royce, MAN Ink LNGi Deal

Dr. Gerd-Michael Würsig, Business Director LNG fuelled Ships at DNV GL – Maritime

DNV GL’s new LNG intelligence portal (LNGi) aims to bring stakeholders from across the LNG industry together to share market intelligence and contribute to the uptake of LNG as a ship fuel. Leading LNG suppliers and engine manufacturers including, Shell, the Marine division of Rolls-Royce and MAN will be some of the first companies to use LNGi.

Cleargistix Partners with Focus Safety Services

Cleargistix LLC announced that it has agreed to a strategic partnership with Focus Safety Services, LLC of Lafayette, La. The agreement helps to broaden each company’s offerings for safety and solutions in the oil and gas services field. “We have a stringent process of vetting opportunities for strategic partnerships, but this decision was easy for us…

Trafigura Replicates Oil Market Tactics with LNG

Growing spot market attracts commodity trade houses; Trafigura traded 1.7 mln tonnes LNG in 2014. Trafigura is blazing a trail for trade houses, adopting highly successful tactics used in oil markets, to get an edge in the burgeoning liquefied natural gas (LNG) sector. Oil traders usually act as a go-between for producers and end users…

Offshore Oil & Gas: Floating Production Market a Bright Spot

Safe stroll: crew aboard the Maersk Peregrino FPSO off Brazil (and above) Photo: Oeyvind Hagen Statoil

Despite industry gloom about the offshore market, orders for production floaters continue to flow. Over the past few weeks a speculatively-ordered FLNG found use off Africa, negotiations began to convert a third LNG carrier to an FLNG, an FSRU was ordered and a modified LNG tanker has been leased for storage use. Looking forward…

Global LNG Analytics Services Announced

Illustration of iGIS/LNG global analytics tracking

TerraMar Networks and Energy Perspectives join forces to offer ground-breaking LNG analytics services. Global GPS asset tracking provider, TerraMar Networks Limited has announced  that it has entered into an agreement with Energy Perspectives, expert consultancy in natural gas based in Norway, to collaborate on an innovative global analytics services for the LNG (liquefied natural gas) market.

Nigeria Offshore Drilling Expenditure Surges

Offshore drilling expenditure in Nigeria, Africa’s leading oil producer, will hit $2.26 billion in 2016, according to the latest report from GBI Research, a business intelligence firm sourced by this 'BusinessDay' news item. The report which provides forecasts for the offshore drilling industry in the Middle-East and Africa region up to 2016…

Bunker Pricing Service Launched by Argus

Argus Marine Fuels has launched a daily marine fuels pricing and analysis service. The new service provides unique market data and intelligent analysis of the increasingly complex marine fuels market. Trade in marine fuels is changing quickly. Oil prices are high and volatile. New environmental regulations are forcing ships to burn more expensive low-sulfur fuels.