Russia’s oil and gas exports have continued to rise despite multilateral Western sanctions and an energy strategy that is not being aggressively pursued, the director of the Moscow School of Management’s Energy Center told a Washington audience.
There’s a downside to oil prices being up that could cost the industry more than $7 billion.
http://www.worldoil.com/news/2018/5/2/saudi-arab-light-crude-price-to-asia-at-highest-since-2014
Saudi Arabia set the price of its benchmark crude in Asia at the highest level since August 2014, after China’s biggest refiner asked for fewer bbl because of high prices.
The oil and gas industry is seeing incremental gains in the first phase of digital technology adoption, but the biggest disruption is yet to come. That change will be people-driven and will require collaboration, panelists said during a May 2 session at the Offshore Technology Conference in Houston.
Suncor Energy is barreling ahead on the ramp-ups of the Fort Hills and Hebron oil megaprojects.
Rigzone speaks with Lloyd’s Register at the Offshore Technology Conference in Houston about the industry’s new entrants to the workforce.
The promised wave of investment has yet to arrive.
http://www.worldoil.com/news/2018/5/2/saudi-arabias-economic-revamp-is-still-an-oil-story
Saudi Arabia’s efforts to shore up public finances and revive economic growth are still pretty much dependent on oil prices, even as the kingdom tries to reduce its reliance on revenue from crude exports.
http://www.worldoil.com/news/2018/5/2/bp-surges-to-2010-high-as-analysts-rave-about-beat-cash-flow
MOSCOW (Bloomberg) — BP Plc analysts praised results which beat estimates thanks to strength in both the upstream and downstream divisions, helping to send the shares to an almost eight-year high.
http://www.worldoil.com/news/2018/5/2/oils-lifeline-turns-into-7-billion-drag-as-crude-prices-jump
There’s a downside to oil prices being up that could cost the industry more than $7 billion.