Digital transformation in oil and gas is more of a transformation problem than it is a digital one. Many executives are hesitant to invest heavily in digital transformation but continue to be hampered by the cost of poor quality.

The developed nations of Europe and the UK have played into the hands of Russia by closing coal and nuclear generation facilities and becoming dependent on renewables and Russian natural gas, rather than developing their own natural gas reserves.

The Brent crude oil spot price averages $98 per barrel (b) in the fourth quarter of 2022 (4Q22) and $97/b in 2023.

Benchmark energy futures fell after jumping on Monday, with Dutch front-month gas losing as much as 13% and German year-ahead power falling 11%.

That should help to make future decision making easier. But it is not going to help keep us warm this winter or indeed even in winter 2024.

The growing emphasis on ESG is a key component in the upstream oil and gas industry.

Russia is now China’s top supplier of the fuel, supplanting Indonesia after the Southeast Asian nation deterred buyers by raising prices.

Preliminary production figures for July 2022 show an average daily production of 1 876 000 barrels of oil, NGL and condensate.

When Russia invaded Ukraine in March, things went from tightness of supply to impending disaster. Russia, through a complex network of pipelines, is the principal supplier of natural gas to Europe and all petroleum products to Germany. Now it has curtailed normal flows.

Berlin is already under serious pressure after Russia cut flows through Nord Stream 1, the key connector with Europe, which is currently running at just 20 per cent capacity.

"Russia needs official confirmation that this and other turbines, which require routine maintenance and repair, will not fall under the sanctions of the EU, Canada and the UK," it said.

The Saudi Arabian Oil Company (“Aramco” or “the Company”) announced its financial results for the second quarter of 2022, posting a 90% year-on-year (YoY) increase in net income

The spot price of Brent crude oil averaged $71 per barrel (b) in 2021, and we forecast the Brent price will average $104/b in 2022 and $94/b in 2023.

Much of the world isn’t ready to follow US and European efforts to isolate President Vladimir Putin’s Russia.

10 in 2022: Ten Policies to Unleash American Energy and Fuel Recovery