Flaring emissions from global upstream oil and gas production activity increased by 7% from 2022 to 2023, according to latest Rystad Energy research. Upstream activities emit about 1 gigatonne per year of carbon dioxide (CO2) in total, with flaring contributing around 30% of those emissions in 2023 assuming 98% flaring efficiency on average. Flaring reduction is considered a low-hanging fruit for oil and gas companies trying to reduce their carbon footprint. However, this recent uptick...
PESA Gazette
Middle East Tensions Puts Energy Market Issues in the Crosshairs
Rystad Energy’s market update from Middle East Research Director, Aditya Saraswat:
“Tensions are persisting in the Middle East and the humanitarian toll is climbing.
Energy market fundamentals have been largely unaffected to date, but this could change at a moment’s notice.
In a widespread regional war scenario, Iran and Israel's conflict could severely impact gas exports and lead to delays in oil development projects.
Attacks on key facilities may threaten nearly 1.4 million bpd...
Total EnergiesSells its Fuel Distribution Activities in Brazil to SIM Distribuidora
TotalEnergies has signed an agreement to sell its fuel distribution activities in Brazil to SIM Distribuidora, a Brazilian company. The transaction involves a network of about 240 filling stations and several storage facilities for petroleum products and ethanol.
SIM Distribuidora, one of the recognized players of the fuel distribution business in Brazil, belongs to Grupo Argenta, which has more than 500 service stations, lubricants and aviation activities.
This sale reflects the...
US Power Prices ‘Set to Surge’ saysWoodMac
LOBE NEWSWIRE) -- US power demand has remained essentially flat for the past decade, but this is all about to change as a pending surge in demand growth will be the biggest challenge for utility companies in decades, according to the latest Horizons report from Wood Mackenzie.
According to the report, “Gridlock: the demand dilemma facing the US power industry” US electricity demand growth will be between 4% and 15% through 2029, depending on the region, with burgeoning data-centre...
Are Electric Vehicles Really Disruptors in the Australian Petroleum Markets?
Oll and Gas Industry Embraces Robots for Increased Efficiencies
With the applications of robotics continuously evolving, the oil and gas industry has emerged as a significant adopter of the technology to improve safety and efficiency of operations.
Robots equipped with advanced technologies are yielding increasingly positive results, bringing a continued transformation in the operations of oil and gas companies, says GlobalData, a leading data and analytics company,
GlobalData’s latest thematic report, “Robotics in Oil and Gas,” highlights...
MOL and Turkish Petroleum Team up for Exploration
| MOL Group has signed a Memorandum of Understanding with Turkish Petroleum Corporation in Istanbul to cooperate as strategic partners in the exploration and production of hydrocarbons. The companies agreed to elevate their cooperation to a new level after successful international joint projects to potential partnership in exploration in Türkiye and further potential projects in other regions.Under the Memorandum of Understanding (MoU), MOL Group and Turkish Petroleum have expressed their... |
Beach Announces CCS start-up at Moomba
Beach Energy said it was pleased to announce successful commissioning and ramp-up of the Moomba Carbon Capture and Storage (CCS) project1, one of the world’s largest CCS projects.
All facilities, pipelines and injector wells have been commissioned and brought online. Following first CO2 injection on 30 September 2024, daily injection has reached capacity rates, exceeding expectations for the commissioning phase and indicating the project’s potential to capture and store...
From Russia with Oil … As Yet
By Eugene Kharkutov and Ellen Starostina
The history, current state and prospects of development of the Russian oil market and its world impact are considered and analysed. The author uses methods of systematic and comparative analysis in the context of the global, and Mideast oil industry. The main conclusions of the article are that, despite the imposed sanctions, the highly motorized market of Russia performs so far quite well and will adapt a wider use of domestically produced...
PESA Horstman Federal Postgraduate Scholarship Winner’s Circle
Federal Programs and Scholarships Sub-Committee
By Bonnie Lowe-Young
As part of PESA’s ongoing program to foster and encourage subsurface energy geoscience research and education in Australia, PESA has annually offered Federal Postgraduate Scholarships to support PhD or Masters students undertaking geoscience research relevant to the exploration, development or production of energy resources in Australia. In 2019, the Federal PESA Postgraduate Scholarship was renamed the Horstman...