Check out the latest oil industry related news

26-04-2024: The reserves replacement dilemma: Can intelligent digital technologies fill the supply gap? Oil reserves are being consumed faster than they’re being replaced. If the reserve replacement ratio doesn’t improve, supply could fail to meet demand before lower-carbon and new energy solutions mature. Companies rethinking strategies are using infrastructure-led exploration as a digital solution to find economically viable new prospects.

26-04-2024: Coiled tubing drilling’s role in the energy transition Coiled tubing drilling is an excellent example of how existing technology can help move the oil and gas sector towards net zero.

26-04-2024: Shale technology: Bayesian variable pressure decline-curve analysis for shale gas wells A new workflow generates probabilistic history-matches and production forecasts for any decline-curve model while incorporating variable BHP conditions. It provides fast history matches and forecasts of shale gas wells more accurately than traditional DCA while quantifying model uncertainty. The primary value added is an innovative method for probabilistic variable-pressure DCA.

26-04-2024: Digital transformation/Late-life optimization: Harnessing data-driven strategies for late-life optimization Late-life assets present a myriad of challenges that operators must tackle to ensure continued safety and integrity. Robust data management strategies play an increasingly pivotal role in optimizing asset performance in mature assets to ensure economic viability.

26-04-2024: Advancing offshore decarbonization through electrification of FPSOs Electrification is the most practical solution for decarbonization, especially as renewable generating capacity increases and momentum to electrify vessels, including FPSOs, continues to build. However, the industry still faces headwinds, including high upfront costs, a lack of supporting infrastructure and properly trained personnel, and gaps in standards.

25-04-2024: Rystad: Russian LNG's future in jeopardy as sanctions' impact grips Despite Western sanctions post Russia's invasion of Ukraine, Russian oil production has remained strong, but the country’s natural gas and LNG sectors are strained due to pipeline infrastructure limitations and Western dependencies, according to Rystad Energy.

25-04-2024: TC Energy’s NGTL gas pipeline resumes normal operations TC Energy earlier this week stood down the emergency response to a rupture on its NOVA Gas Transmission Ltd. Grande Prairie Mainline, near Edson, Alta.