Though oil prices are on the rise across the globe, China is seeing prices fall.
China Is Taking Advantage Of Western Sanctions On Russia
Though oil prices are on the rise across the globe, China is seeing prices fall.
Western sanctions against Russia have left Moscow willing to unload its crude at mind-bending discounts.
China is taking advantage of the current geopolitical climate, buying up as much Russian oil as it can.
2022/07/06 18:49
The G7 Has Paved The Way For Increased Oil And Gas Spending
The G7 Has Paved The Way For Increased Oil And Gas Spending
Underinvestment in oil and gas in the past few years is seen as one of the main reasons for the current imbalance between supply and demand.
G7 nations have acknowledged the need for increased investment in foreign gas projects.
Big oil CEOs are calling for stability and consistency in government policies in order to boost investment.
2022/06/30 18:47
Why Is The United States Still Exporting Fuel?
Why Is The United States Still Exporting Fuel?
The price of gasoline has climbed above $5 per gallon.
U.S. fuel exports have continued to rise, adding additional pressure on domestic fuel inventories.
“With refiners already running at full tilt, something has to give,” BloombergNEF analyst Danny Adkins told Bloomberg.
2022/06/22 16:03
4 Middle Eastern nations are currently building out their refining capacity.
4 Nations That Could Help Solve The Global Fuel Crisis
Middle Eastern refiners could be processing some 8.8 million bpd of crude next year.
4 Middle Eastern nations are currently building out their refining capacity.
This increase is roughly equal to the amount of Russian fuels the European Union has embargoed.
2022/06/22 15:12
5 Midstream Oil Stocks With Perfect Exposure To Soaring Oil Prices
5 Midstream Oil Stocks With Perfect Exposure To Soaring Oil Prices
​After a brief hiatus, the oil price rally is back on track. Crude oil closed with its seventh straight weekly gain thanks to tight fuel supplies sustaining bullish sentiment. After a brief fall on Friday following news that U.S. inflation surged to a fresh 40-year high, WTI crude rebounded to end the week with a 1.5% gain to trade at $122.40/barrel, while Brent crude settled 1.9% higher at $124.03.
2022/06/14 19:39
Russian Oil Production May Fall To 18-Year Low On EU Oil Embargo
Russian Oil Production May Fall To 18-Year Low On EU Oil Embargo
WSJ: full oil embargo could send Russian production to 9.6 million bpd.
IEA estimates that Russia already shut in nearly 1 million bpd in April.
Russian Finance Minister Siluanov. production could drop by 17 percent this year due to the sanctions.
2022/05/14 11:38
PetroChina: "With the improvement of the COVID situation, refined product inventory is now showing a downturn,".
PetroChina Sees Fuel Demand Rising In China Despite COVID
China's biggest refiner sees growing fuel demand in China.
China manufacturing PMI, a barometer for Chinese oil demand, has come in at 47.4 in April’s official data.
PetroChina: "With the improvement of the COVID situation, refined product inventory is now showing a downturn,".
2022/05/09 17:49
OPEC Stays Silent As EU Rushes To Ban Russian Oil
OPEC+ concludes Ministerial meeting with very small additional production increase.
OPEC leaves EU ban of Russian crude undiscussed.
EU sanction drive against Russia has proved to be a boon for OPEC producers.
OPEC is unlikely to materially increase production as EU looks for alternative suppliers.
2022/05/09 14:05
Chinese COVID-19 lockdowns will be a much bigger threat to regional demand in Asia than initially assumed.
Middle East Producers Eager To Hike Prices As Russian Oil Ban Looms
Chinese COVID-19 lockdowns will be a much bigger threat to regional demand in Asia than initially assumed.
Looming EU-ban on Russian crude may further improve demand for Middle East crude grades.
Middle East producers continue to hike prices, but not as aggressively as anticipated.
2022/04/21 20:58
U.S. Oil Drillers Ramp Up Output Amid Higher Prices
U.S. Oil Drillers Ramp Up Output Amid Higher Prices
Permian rig count reached the highest level since April 2020 last week.
Supply chain disruptions and labor shortages are trumped by optimism about demand.
Enterprise Product Partners: U.S. oil production will reach 12.4 million bpd this year, up by 800,000 bpd from 2021.
2022/04/15 20:45
Oil Prices Continue To Rally As EIA Confirms Crude Inventory Draw
Oil Prices Continue To Rally As EIA Confirms Crude Inventory Draw
Oil Prices Continue To Rally As EIA Confirms Crude Inventory Draw
2022/03/31 20:48
The UAE and Saudi Arabia look to boost production capacity this decade.
OPEC Looks Beyond Politics, Focuses On Long-Term Production Plans
Gulf oil producers slam hypocritical attitude towards fossil fuels.
The UAE and Saudi Arabia look to boost production capacity this decade.
OPEC has its priorities, and it is sticking to them, even in the face of growing pressure from its political partners in the West.
2022/03/31 20:44
Though oil prices are on the rise across the globe, China is seeing prices fall.
China Is Taking Advantage Of Western Sanctions On Russia
Though oil prices are on the rise across the globe, China is seeing prices fall.
Western sanctions against Russia have left Moscow willing to unload its crude at mind-bending discounts.
China is taking advantage of the current geopolitical climate, buying up as much Russian oil as it can.
The G7 Has Paved The Way For Increased Oil And Gas Spending
The G7 Has Paved The Way For Increased Oil And Gas Spending
Underinvestment in oil and gas in the past few years is seen as one of the main reasons for the current imbalance between supply and demand.
G7 nations have acknowledged the need for increased investment in foreign gas projects.
Big oil CEOs are calling for stability and consistency in government policies in order to boost investment.
Why Is The United States Still Exporting Fuel?
Why Is The United States Still Exporting Fuel?
The price of gasoline has climbed above $5 per gallon.
U.S. fuel exports have continued to rise, adding additional pressure on domestic fuel inventories.
“With refiners already running at full tilt, something has to give,” BloombergNEF analyst Danny Adkins told Bloomberg.
4 Middle Eastern nations are currently building out their refining capacity.
4 Nations That Could Help Solve The Global Fuel Crisis
Middle Eastern refiners could be processing some 8.8 million bpd of crude next year.
4 Middle Eastern nations are currently building out their refining capacity.
This increase is roughly equal to the amount of Russian fuels the European Union has embargoed.
5 Midstream Oil Stocks With Perfect Exposure To Soaring Oil Prices
5 Midstream Oil Stocks With Perfect Exposure To Soaring Oil Prices
​After a brief hiatus, the oil price rally is back on track. Crude oil closed with its seventh straight weekly gain thanks to tight fuel supplies sustaining bullish sentiment. After a brief fall on Friday following news that U.S. inflation surged to a fresh 40-year high, WTI crude rebounded to end the week with a 1.5% gain to trade at $122.40/barrel, while Brent crude settled 1.9% higher at $124.03.
Russian Oil Production May Fall To 18-Year Low On EU Oil Embargo
Russian Oil Production May Fall To 18-Year Low On EU Oil Embargo
WSJ: full oil embargo could send Russian production to 9.6 million bpd.
IEA estimates that Russia already shut in nearly 1 million bpd in April.
Russian Finance Minister Siluanov. production could drop by 17 percent this year due to the sanctions.
PetroChina: "With the improvement of the COVID situation, refined product inventory is now showing a downturn,".
PetroChina Sees Fuel Demand Rising In China Despite COVID
China's biggest refiner sees growing fuel demand in China.
China manufacturing PMI, a barometer for Chinese oil demand, has come in at 47.4 in April’s official data.
PetroChina: "With the improvement of the COVID situation, refined product inventory is now showing a downturn,".
OPEC Stays Silent As EU Rushes To Ban Russian Oil
OPEC+ concludes Ministerial meeting with very small additional production increase.
OPEC leaves EU ban of Russian crude undiscussed.
EU sanction drive against Russia has proved to be a boon for OPEC producers.
OPEC is unlikely to materially increase production as EU looks for alternative suppliers.
Chinese COVID-19 lockdowns will be a much bigger threat to regional demand in Asia than initially assumed.
Middle East Producers Eager To Hike Prices As Russian Oil Ban Looms
Chinese COVID-19 lockdowns will be a much bigger threat to regional demand in Asia than initially assumed.
Looming EU-ban on Russian crude may further improve demand for Middle East crude grades.
Middle East producers continue to hike prices, but not as aggressively as anticipated.
U.S. Oil Drillers Ramp Up Output Amid Higher Prices
U.S. Oil Drillers Ramp Up Output Amid Higher Prices
Permian rig count reached the highest level since April 2020 last week.
Supply chain disruptions and labor shortages are trumped by optimism about demand.
Enterprise Product Partners: U.S. oil production will reach 12.4 million bpd this year, up by 800,000 bpd from 2021.
Oil Prices Continue To Rally As EIA Confirms Crude Inventory Draw
Oil Prices Continue To Rally As EIA Confirms Crude Inventory Draw
Oil Prices Continue To Rally As EIA Confirms Crude Inventory Draw
The UAE and Saudi Arabia look to boost production capacity this decade.
OPEC Looks Beyond Politics, Focuses On Long-Term Production Plans
Gulf oil producers slam hypocritical attitude towards fossil fuels.
The UAE and Saudi Arabia look to boost production capacity this decade.
OPEC has its priorities, and it is sticking to them, even in the face of growing pressure from its political partners in the West.

Zhongyuan Oilfield opens a new mode of intelligent brain 2.0 for oil wells

2020/06/17 16:40
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On June 17, at the Wen 72-129 well site of Wenliu Oil Production Plant in Zhongyuan Oilfield, production workers were debugging the parameters of the wellhead multi-parameter sensing device. This device is the latest monitoring device after upgrading. Compared with traditional digital pressure gauges and thermostats, this device overcomes the problems of poor performance, complex structure, and easy damage, and greatly improves work efficiency. At the same time, the “smart brain” of oil wells has been upgraded again. At present, the device has been widely promoted in oil fields. Since the application of this device, Wenliu Oil Production Plant alone has saved more than 1 million yuan in maintenance costs for digital pressure gauges and thermostats.