California’s is transitioning away from oil at a faster rate than most states, and looks unlikely to stop any time soon
California Is Aggressively Pursuing A Future Without Oil
California’s oil industry provides a major source of revenue for the state and creates a huge number of jobs, but that won’t stop the state’s governor from phasing it out
2021/10/30 16:07
Have Oil Markets Suddenly Turned Bearish?
Have Oil Markets Suddenly Turned Bearish?
Oil and gas prices have seen a bit of a correction over the last few days
Implied crude demand fell w/w for all products except jet fuel, with the key mismatch being between total crude inventories and inventories at the WTI pricing hub in Cushing, Oklahoma
2021/10/29 20:09
Without a significant uptick in investment, demand for oil and gas will surpass supply in the not-so-distant future
A Global Oil Shortage Is Inevitable
While oil and gas companies come under pressure to reduce production, the world’s thirst for new supply is only growing
2021/10/27 19:50
OPEC+ is adding 400,000 bpd to its combined output every month
Saudi Oil Minister: OPEC+ Shouldn't Rush To Boost Production
Saudi Oil Minister: OPEC+ needs to remain cautious with its approach to oil production adjustments despite rising prices
2021/10/26 19:28
Permian Basin production costs are expected to rise by 10 to 15 percent in the coming year.
Oilfield Service Companies Can’t Catch A Break
Though the global energy crunch is not impacting the United States as much as its European and Asian counterparts, it will have an impact on Permian producers.
2021/10/25 18:52
Canada is facing resistance from all sides, with its pipelines to the U.S. coming under pressure from state governors and Justin Trudeau determined to transition away from fossil fuels
Canada’s Oil Industry Is Facing Resistance On All Fronts
The IEA has predicted that Canada’s oil production will begin to decline at the end of this decade, but not before the country increases its production by up to 700,000 bpd
2021/10/23 16:10
Oil Rebounds On Surprise Crude Inventory Draw
Oil Rebounds On Surprise Crude Inventory Draw
Crude inventories fell by 400,000 barrels.Gasoline production rose last week, while inventories continue to fall.Middle distillate production fell slightly along with inventories.
2021/10/21 17:43
Permian Oil Output Close To Pre-Pandemic LevelPermian Oil Output Close To Pre-Pandemic Level
Permian Oil Output Close To Pre-Pandemic Level
Crude oil production in the Permian has climbed closer to pre-pandemic levels, according to the latest drilling productivity report of the Energy Information Administration.
2021/10/20 17:53
Both oil prices and natural gas prices are significantly higher than where they were this time last year, and earnings should reflect that
Excitement Builds As Big Oil Prepares To Release Earnings
▶After a disastrous 2020, oil majors have now well and truly recovered and analysts expect an impressive earnings season this quarter
2021/10/20 17:48
OPEC+ Under Produces Quota Despite Calls For More Oil
OPEC+ Under Produces Quota Despite Calls For More Oil
The OPEC+ group saw its overall compliance with the collective oil production cuts at 115 percent in September, a delegate told Argus on Monday, down from the 116-percent compliance in August, but still higher than the market had hoped, with some members of the alliance failing to ramp up production in line with their quotas.
2021/10/19 18:36
Beijing's crackdown on the private refining industry was one reason behind this import decline as the government tackled excessive fuel supply
China Once Again Cuts Oil Import Quotas For Indepedent Refiners
Beijing's crackdown on the private refining industry was one reason behind this import decline as the government tackled excessive fuel supply
2021/10/18 17:42
OPEC+ will continue to do what it is currently doing and, in time, there will be balance in oil markets
Saudi Arabia: Patience Is A Virtue In Oil Markets
OPEC+ will continue to do what it is currently doing and, in time, there will be balance in oil markets
2021/10/15 16:27
California’s is transitioning away from oil at a faster rate than most states, and looks unlikely to stop any time soon
California Is Aggressively Pursuing A Future Without Oil
California’s oil industry provides a major source of revenue for the state and creates a huge number of jobs, but that won’t stop the state’s governor from phasing it out
Have Oil Markets Suddenly Turned Bearish?
Have Oil Markets Suddenly Turned Bearish?
Oil and gas prices have seen a bit of a correction over the last few days
Implied crude demand fell w/w for all products except jet fuel, with the key mismatch being between total crude inventories and inventories at the WTI pricing hub in Cushing, Oklahoma
Without a significant uptick in investment, demand for oil and gas will surpass supply in the not-so-distant future
A Global Oil Shortage Is Inevitable
While oil and gas companies come under pressure to reduce production, the world’s thirst for new supply is only growing
OPEC+ is adding 400,000 bpd to its combined output every month
Saudi Oil Minister: OPEC+ Shouldn't Rush To Boost Production
Saudi Oil Minister: OPEC+ needs to remain cautious with its approach to oil production adjustments despite rising prices
Permian Basin production costs are expected to rise by 10 to 15 percent in the coming year.
Oilfield Service Companies Can’t Catch A Break
Though the global energy crunch is not impacting the United States as much as its European and Asian counterparts, it will have an impact on Permian producers.
Canada is facing resistance from all sides, with its pipelines to the U.S. coming under pressure from state governors and Justin Trudeau determined to transition away from fossil fuels
Canada’s Oil Industry Is Facing Resistance On All Fronts
The IEA has predicted that Canada’s oil production will begin to decline at the end of this decade, but not before the country increases its production by up to 700,000 bpd
Oil Rebounds On Surprise Crude Inventory Draw
Oil Rebounds On Surprise Crude Inventory Draw
Crude inventories fell by 400,000 barrels.Gasoline production rose last week, while inventories continue to fall.Middle distillate production fell slightly along with inventories.
Permian Oil Output Close To Pre-Pandemic LevelPermian Oil Output Close To Pre-Pandemic Level
Permian Oil Output Close To Pre-Pandemic Level
Crude oil production in the Permian has climbed closer to pre-pandemic levels, according to the latest drilling productivity report of the Energy Information Administration.
Both oil prices and natural gas prices are significantly higher than where they were this time last year, and earnings should reflect that
Excitement Builds As Big Oil Prepares To Release Earnings
▶After a disastrous 2020, oil majors have now well and truly recovered and analysts expect an impressive earnings season this quarter
OPEC+ Under Produces Quota Despite Calls For More Oil
OPEC+ Under Produces Quota Despite Calls For More Oil
The OPEC+ group saw its overall compliance with the collective oil production cuts at 115 percent in September, a delegate told Argus on Monday, down from the 116-percent compliance in August, but still higher than the market had hoped, with some members of the alliance failing to ramp up production in line with their quotas.
Beijing's crackdown on the private refining industry was one reason behind this import decline as the government tackled excessive fuel supply
China Once Again Cuts Oil Import Quotas For Indepedent Refiners
Beijing's crackdown on the private refining industry was one reason behind this import decline as the government tackled excessive fuel supply
OPEC+ will continue to do what it is currently doing and, in time, there will be balance in oil markets
Saudi Arabia: Patience Is A Virtue In Oil Markets
OPEC+ will continue to do what it is currently doing and, in time, there will be balance in oil markets

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.