Monday, November 18, 2024
U.S. oil companies use AI for faster shale drilling, mitigating OPEC production cuts- oil and gas 360

U.S. oil companies use AI for faster shale drilling, mitigating OPEC production cuts

World Oil (Bloomberg) – From a dark Houston control room, Rafael Guedes watched on a monitor as a robot took charge of a drilling rig in a North Dakota oil field, locking out the human operator. Glowing red boxes lit up the screen as an artificial intelligence program took over the distant Nabors Industries Ltd. rig, beaming instructions by satellite

Colombia's Ecopetrol board blasts anti-oil President’s nominees as unfit- oil and gas 360

Colombia’s Ecopetrol board blasts anti-oil President’s nominees as unfit

World Oil (Bloomberg) – Board members of Colombia’s state oil company are objecting to President Gustavo Petro’s attempt to overhaul it with new directors as he works to wean the country off oil and gas. Ecopetrol SA’s governance committee issued a report Tuesday that said none of the five candidates proposed by Petro — elected in 2022 as Colombia’s first

U.S. wants Venture Global to explain confidentiality of its LNG project- oil and gas 360

U.S. wants Venture Global to explain confidentiality of its LNG project

Oil Price The Federal Energy Regulatory Commission (FERC) has asked U.S. liquefied natural gas exporter Venture Global LNG to justify why it keeps details of its Calcasieu Pass LNG facility confidential, weeks after customers including BP complained that the U.S. LNG seller had not been transparent about the status of its Louisiana plant. BP, along with Shell, Repsol, Eni, and Edison, became

Exclusive-Weak bids in Citgo auction spurs Venezuela to pitch alternative pay plan- oil and gas 360

Exclusive-Weak bids in Citgo auction spurs Venezuela to pitch alternative pay plan

US News HOUSTON/MIAMI (Reuters) -The highest bid received in a U.S. auction of shares that will decide the fate of Venezuela-owned oil refiner Citgo Petroleum was $7.3 billion, enough to cover only a third of court-approved claims, two people familiar with the matter said. A federal court in Delaware is auctioning the shares of a parent of Venezuela’s foreign crown

IEA sees OPEC+ cuts pushing oil markets into a supply deficit- oil and gas 360

IEA sees OPEC+ cuts pushing oil markets into a supply deficit

Oil Price The oil market is shifting from a surplus to a supply deficit that will last for all of 2024 if OPEC+ further extends its production cuts until the end of the year, the International Energy Agency (IEA) said on Thursday. Early this month, the members of the OPEC+ alliance that had pledged the Q1 cuts announced they would roll