The initiative provides a framework for energy operators, service providers, equipment providers, and independent software vendors for energy services to offer interoperable solutions, including AI and physics-based models, monitoring, diagnostics, prescriptive actions, and services, powered by the BHC3™ AI Suite and Microsoft Azure. SourceContinue Reading

OPEC boosted crude production as planned last month, but the increase was tempered by disruptions at long-troubled member nations. SourceContinue Reading

C-Innovation, LLC announced a one-year contract extension with BP for Riserless Light Well Intervention in the Gulf of Mexico. The Island Venture and team are currently mobilized and in the field working on one of BP’s assets. SourceContinue Reading

“There’s a sense that normalcy will occur and it’s looking more certain,” boosting the outlook for oil demand, said Michael Lynch, president of Strategic Energy and Economic Research. Meanwhile, “the Saudi production cuts start today, and people are focused on falling inventories and how the market is tightening.” SourceContinue Reading

The transaction between Oxy and India’s Reliance Industries is the energy industry’s first major petroleum shipment for which greenhouse gas emissions associated with the entire crude lifecycle, well head through combustion of end products, have been offset. SourceContinue Reading

The Council will represent more than 600 energy technology and services companies in the global energy supply chain providing solutions to enable a low-carbon future, safely, profitably, and sustainably. SourceContinue Reading

Iran sent a clear signal to the Biden administration that it expects relief from sanctions, and the full restoration of the United Nations resolution that underpins the deal, before it starts scaling back its nuclear activities. SourceContinue Reading

BP will sell a stake in an Omani gas block to Thailand’s national energy firm for $2.6 billion, part of a push to divest billions of dollars of assets and focus more on renewable energy. SourceContinue Reading

“We have concerns about investment, particularly in light of the pandemic,” OPEC Secretary-General Mohammad Barkindo said at a virtual conference in Iran on Jan. 26. Starving the industry of capital today “could sow the seeds for extreme volatility down the road.” SourceContinue Reading

America is the world’s biggest consumer of crude oil, and any restrictions of domestic production will mean more will have to be shipped in from other countries with less stringent humanitarian and environmental laws. SourceContinue Reading