(Oil & Gas 360) – After the fall of the Iron Curtain the Council for Foreign Relations (CFR) embraced the concept that the world would be run by a group of benign democracies forevermore as a basis for foreign policy. It was a fantasy; the world did not work out that way – it is a dangerous place with wars
(Oil & Gas 360) – As Artificial Intelligence (AI) expands to potentially revolutionize every aspect of human existence, the expected electrical demands required by the power devouring technology in its earliest stages present a formidable planning and financing challenge for utilities and other power plant developers. The so-called electrical boom, the result of everything from growing economies and populations, cloud computing
(World Oil) – National oil companies tend to be more bloated and less efficient than their private-sector counterparts. Yet Petroleos Mexicanos, with a workforce of about 128,000, stands out even among its state-owned peers. The amount of crude Pemex pumps per employee has slipped to just under 14 bpd, less than any other Latin American state producer except Petroleos de
(Oil Price) – The United States Geological Survey (USGS) and the Arkansas Department of Energy and Environment’s Office of the State Geologist have discovered a vast lithium reserve containing more than nine times the International Energy Agency’s projection of global lithium demand for electric vehicles in 2030. A relic of an ancient sea that left an extensive, porous, and permeable limestone geologic, the
(World Oil) – Saudi Aramco’s venture arm has earmarked $100 million to invest in artificial intelligence startups as it looks to accelerate Saudi Arabia’s push to become a more competitive force in global AI. Wa’ed Ventures has appointed an advisory board made up of former employees from companies including Meta Platforms Inc. and Amazon.com Inc. to explore early-stage investments in
Oil Price Despite lower international oil prices, Chinese state-held oil and gas giant CNOOC reported on Monday its highest-ever profit for the third quarter, on the back of record oil and gas production. CNOOC, which specializes in offshore oil and gas developments in China and internationally, booked a net profit of $5.2 billion (36.93 billion Chinese yuan) for the third quarter, up
(World Oil) – Baker Hughes announced today significant contracts with Petrobras to provide 77 km of flexible pipe systems to be deployed in Brazil’s pre-salt fields. The agreement was signed Oct. 15, 2024, following an open tender. The multi-year project includes risers and flowlines for hydrocarbon production and associated gas and water injection with support for equipment storage, maintenance and
(CNBC) – U.S. crude oil sold off steeply Monday, putting the benchmark on pace for its worst day in more than two years after Iranian energy facilities were not damaged during an Israeli attack over the weekend. Futures for global crude benchmark Brent slid 5.94% to $71.53 per barrel at 9:26 am ET, while U.S. West Texas Intermediate futures dropped 6.26% to $67.29 per barrel. U.S.
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