Oil Prices Extend Losses After EIA Inventory Data Release
Oil Prices Extend Losses After EIA Inventory Data Release
Crude oil prices fell today, even after the U.S. Energy Information Administration reported inventories of oil had shed 3.7 million barrels over the week to November 18.
2022/11/26 17:16
The Biden Administration has just approved a new 2 million bpd oil export terminal for the Texas Gulf Coast.
Biden Quietly Approved 2 Million Bpd Texas Oil Terminal
The Biden Administration has just approved a new 2 million bpd oil export terminal for the Texas Gulf Coast.
The approval comes amid suggestions from Democrats in Congress that the U.S. should curb oil exports to secure local supply.
The project involves building a terminal about 30 miles south of Freeport, in Surfside.
2022/11/26 17:14
World leaders have become a bit more receptive to the notion that fossil fuels may play a role in energy’s future.
The Climate-Friendly Solution Is More U.S. Oil, Not Less: U.S. Republicans
At the UN climate summit in Egypt, U.S. Republicans have argued that the cleanest oil in the world comes from the United States.
Lousiana Republican Representative Garret Graves: If we are going to be increasing global demand of oil and gas we must ensure that the extraction, exploration and production activities are occurring in places where we have the lowest emissions per unit of energy.
World leaders have become a bit more receptive to the notion that fossil fuels may play a role in energy’s future.
2022/11/14 11:30
U.S. oil companies are warning of a slowdown in production growth.
U.S. Oil Companies Remain Cautious As Economic Headwinds Grow
U.S. oil companies are warning of a slowdown in production growth.
Inflation, labor shortages and supply chain issues are fueling uncertainty in the industry.
As the market braces for a rocky road ahead, U.S. oil companies will likely remain cautious for the foreseeable future.
2022/11/08 08:53
Some Big Oil companies are so confident that high oil prices are here to stay that they have completely ditched their hedges.
Why Overly Confident U.S. Drillers Ditched Their Hedges
Some Big Oil companies are so confident that high oil prices are here to stay that they have completely ditched their hedges.
Scotiabank's Paul Cheng: the best hedge for oil and gas companies is a strong balance sheet.
U.S. shale producers will suffer a staggering $42 billion in hedging losses in 2022
2022/11/04 15:58
U.S. Accelerates Three-Tier Plan To Reduce Oil Prices
U.S. Accelerates Three-Tier Plan To Reduce Oil Prices
U.S. President Biden has three key strategies in place to lower oil prices.
The first and foremost strategy is the implementation of the NOPEC bill.
The second pillar of the plan is to release more crude from the U.S. SPR.
The third element of the plan to bring oil prices down is to be a concerted effort to encourage U.S. oil firms, shale or otherwise, to increase their production.
2022/10/28 16:34
Oil Jumps Despite Major Crude Inventory Build
Oil Jumps Despite Major Crude Inventory Build
Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 9.9 million barrels for the week to October 7, but the move lower didn't last long.
2022/10/17 10:00
U.S. Refiners Are Preparing For A Potential Fuel Export Ban
U.S. Refiners Are Preparing For A Potential Fuel Export Ban
U.S. refiners have been bracing themselves for the possibility that President Biden will impose some sort of fuel exports ban or restriction ahead of the mid-terms.
One industry executive said his company didn’t have a place to put the excess fuel, so would have to slow refinery runs and produce less diesel and gasoline.
Oil producers and energy experts have widely criticized the plan, suggesting that it could lead to job losses, productivity declines, and, in the long run, high prices.
2022/10/17 09:55
Introduction of Plunger
2022/10/10 16:14
Is This The Next Major Threat For Oil Demand?
Is This The Next Major Threat For Oil Demand?
Manufacturing growth in the United States slowed in September to its lowest rate since the pandemic recovery started
Global maritime trade growth is slowing in a sign that the global economic slowdown is underway.
Major trading houses are not concerned about a serious pullback in crude demand.
2022/10/07 13:38
BP Restarts Offshore Oil And Gas Platforms After Hurricane Ian
BP restarted production at its Na Kika and Thunder Horse platforms on Thursday.
BP halted production on the two platforms on Monday ahead of Hurricane Ian.
Hurricane Ian has since weakened to a Category 1 storm, although some parts of Florida are still being hit.
2022/09/30 18:34
Oil Prices Fall After Fed Raises Rates
Oil Prices Fall After Fed Raises Rates
The U.S. Federal Reserve hiked interest rates by 75 basis points on Wednesday.
The rate hike is the third straight hike for the Fed, and rates are now the highest they’ve been since 2008.
Crude prices reacted negatively to the news with Brent crude falling back toward $90 per barrel.
2022/09/22 19:03
Oil Prices Extend Losses After EIA Inventory Data Release
Oil Prices Extend Losses After EIA Inventory Data Release
Crude oil prices fell today, even after the U.S. Energy Information Administration reported inventories of oil had shed 3.7 million barrels over the week to November 18.
The Biden Administration has just approved a new 2 million bpd oil export terminal for the Texas Gulf Coast.
Biden Quietly Approved 2 Million Bpd Texas Oil Terminal
The Biden Administration has just approved a new 2 million bpd oil export terminal for the Texas Gulf Coast.
The approval comes amid suggestions from Democrats in Congress that the U.S. should curb oil exports to secure local supply.
The project involves building a terminal about 30 miles south of Freeport, in Surfside.
World leaders have become a bit more receptive to the notion that fossil fuels may play a role in energy’s future.
The Climate-Friendly Solution Is More U.S. Oil, Not Less: U.S. Republicans
At the UN climate summit in Egypt, U.S. Republicans have argued that the cleanest oil in the world comes from the United States.
Lousiana Republican Representative Garret Graves: If we are going to be increasing global demand of oil and gas we must ensure that the extraction, exploration and production activities are occurring in places where we have the lowest emissions per unit of energy.
World leaders have become a bit more receptive to the notion that fossil fuels may play a role in energy’s future.
U.S. oil companies are warning of a slowdown in production growth.
U.S. Oil Companies Remain Cautious As Economic Headwinds Grow
U.S. oil companies are warning of a slowdown in production growth.
Inflation, labor shortages and supply chain issues are fueling uncertainty in the industry.
As the market braces for a rocky road ahead, U.S. oil companies will likely remain cautious for the foreseeable future.
Some Big Oil companies are so confident that high oil prices are here to stay that they have completely ditched their hedges.
Why Overly Confident U.S. Drillers Ditched Their Hedges
Some Big Oil companies are so confident that high oil prices are here to stay that they have completely ditched their hedges.
Scotiabank's Paul Cheng: the best hedge for oil and gas companies is a strong balance sheet.
U.S. shale producers will suffer a staggering $42 billion in hedging losses in 2022
U.S. Accelerates Three-Tier Plan To Reduce Oil Prices
U.S. Accelerates Three-Tier Plan To Reduce Oil Prices
U.S. President Biden has three key strategies in place to lower oil prices.
The first and foremost strategy is the implementation of the NOPEC bill.
The second pillar of the plan is to release more crude from the U.S. SPR.
The third element of the plan to bring oil prices down is to be a concerted effort to encourage U.S. oil firms, shale or otherwise, to increase their production.
Oil Jumps Despite Major Crude Inventory Build
Oil Jumps Despite Major Crude Inventory Build
Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 9.9 million barrels for the week to October 7, but the move lower didn't last long.
U.S. Refiners Are Preparing For A Potential Fuel Export Ban
U.S. Refiners Are Preparing For A Potential Fuel Export Ban
U.S. refiners have been bracing themselves for the possibility that President Biden will impose some sort of fuel exports ban or restriction ahead of the mid-terms.
One industry executive said his company didn’t have a place to put the excess fuel, so would have to slow refinery runs and produce less diesel and gasoline.
Oil producers and energy experts have widely criticized the plan, suggesting that it could lead to job losses, productivity declines, and, in the long run, high prices.
Introduction of Plunger
Is This The Next Major Threat For Oil Demand?
Is This The Next Major Threat For Oil Demand?
Manufacturing growth in the United States slowed in September to its lowest rate since the pandemic recovery started
Global maritime trade growth is slowing in a sign that the global economic slowdown is underway.
Major trading houses are not concerned about a serious pullback in crude demand.
BP Restarts Offshore Oil And Gas Platforms After Hurricane Ian
BP restarted production at its Na Kika and Thunder Horse platforms on Thursday.
BP halted production on the two platforms on Monday ahead of Hurricane Ian.
Hurricane Ian has since weakened to a Category 1 storm, although some parts of Florida are still being hit.
Oil Prices Fall After Fed Raises Rates
Oil Prices Fall After Fed Raises Rates
The U.S. Federal Reserve hiked interest rates by 75 basis points on Wednesday.
The rate hike is the third straight hike for the Fed, and rates are now the highest they’ve been since 2008.
Crude prices reacted negatively to the news with Brent crude falling back toward $90 per barrel.

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.