Author: Oilconvo News
Machine Learning Roadblocks in Oil and Gas | Automation World
Artificial intelligence can help shale oil drillers reduce expenses, increase productivity and improve work methods, but trusting the logic inside… AI can provide immediate impact for oil and gas companies—reduced expenses, increased productivity, improved work methods—but energy companies have been slow to adopt the technologies available. This might have to do with security concerns, cost,...
Trump’s plan to open California coastal waters to new oil and gas drilling probably won’t go very far
There are two things working against the Trump administration’s proposal to open up California coastal waters to new oil and gas drilling: state regulators and simple economics. California has powerful legal tools to head off new offshore development, and the price of oil offers little incentive to the energy industry to pursue expensive drilling projects next to a hostile state. Read Full Article...
Texas oil trade group sees investment pickup in 2018
A trade group in Texas said 2018 looked good for the oil and gas business, with investments trickling down to the coastal and manufacturing sectors. Texas is the No. 1 oil producing state in the country and home to some of the most lucrative shale basins, notably the Permian reservoir. The state’s economy was hobbled by the downturn in the energy sector that hit bottom in early 2016. In a su...
China overtakes S Korea to become second-largest LNG importer in 2017: cFlow – Natural Gas | Platts News Article & Story
China overtakes S Korea to become second-largest LNG importer in 2017: cFlow – Read this Platts natural gas news article here. Plus discover more natural gas market news, products & services. Read Full Article Here: https://www.platts.com/latest-news/natural-gas/singapore/china-overtakes-s-korea-to-become-second-largest-27902917
U.S. oil production booms as new year begins
Shale oil drilling has erased memories of long gas lines in the 1970s. U.S. crude oil production is flirting with record highs heading into the new year, thanks to the technological nimbleness of shale oil drillers . The current abundance has erased memories of 1973 gas lines, which raised pump prices dramatically, traumatizing the United States and reordering its economy. In the decades since, pr...
New York unveils new climate initiatives for 2018
As part of a sweeping green mandate, New York’s governor said he’d reconvene a climate advisory panel to avoid “political interference” from the White House. Read Full Article Here: https://www.upi.com/Energy-News/2018/01/03/New-York-unveils-new-climate-initiatives-for-2018/4331514976370/
The Oil And Gas Industry Is Under Attack | OilPrice.com
The global oil and gas industry is more vulnerable to cyberattacks than you might think, a threat that is going to be one of the industry’s key challenges in 2018. Almost two-thirds of oil and gas companies have recently had a serious cybersecurity incident, and only a small minority of them felt confident that their defense capabilities match the threats, a new survey from EY has revealed. The su...
Exclusive: Exxon eyes Egypt’s offshore oil and gas – sources
Exxon Mobil (XOM.N) is considering a foray into Egypt offshore oil and gas, seeking to replicate rivals’ success in the country and boost its reserves, officials and industry sources said. Read Full Article Here: https://www.reuters.com/article/us-exxon-mobil-egypt/exclusive-exxon-eyes-egypts-offshore-oil-and-gas-sources-idUSKBN1DY009
Total to Expand Oil and Gas Activities in Angola
Total SA (FP.FR) said on Monday that it has signed several agreements with Angola’s national oil company Sonangol, covering oil-and-gas exploration, production, refining and processing activities in the country. Following the agreements, Total and Sonangol will jointly restart deep offshore exploration in Angola, the French energy company said. The first phase of this program will last two y...
DUG Eagle Ford: Marathon Oil Leverages The Digital Oil Field
The company’s technology director discussed how digital technology and innovation acts as a competitive differentiator. Marathon has adopted video surveillance, real-time notifications and decision-making capabilities to its field operations. Suarez noted that once those new process improvements were added to the company’s control center, it was able to introduce a safer and more efficient way of ...
Majors move out, minors move in to British North Sea
The sale of gas fields in the British North Sea could be a sign that bigger companies are losing interest in an area with a bit of a future, analysis finds. Read Full Article Here: https://www.upi.com/Energy-News/2017/11/21/Majors-move-out-minors-move-in-to-British-North-Sea/7131511272204/
America’s Wind Energy Future Looks Seaward
Rough ocean waters surround the Block Island Wind Farm, the United States’ first offshore wind farm. Its five Halide 6-MW turbines installed by Deepwater Wind are supplying the majority of the island’s electricity. Bringing a $300-million offshore wind farm to life means navigating a web of regulatory and policy hurdles. But for Block Island, which burned through about one million gallons o...