Business Intelligence News

16 Jul 2019

Africa to Complete 6 High Impact Wells

Map: Rystad Energy

As many as six high impact wells are yet to be completed this year around Africa, after several consecutive low-activity years with only a few positive results.According to the energy research and business intelligence company Rystad Energy, these wells all target offshore acreages, with the majority planned in the Western African region.“Africa appears to be emerging from a long hibernation in terms of oil and gas exploration activities,” said Rystad Energy Upstream Research analyst Taiyab Zain Shariff.A steep drop in the number of exploration wells in 2015 fueled by budget cuts…

13 Jun 2019

Singapore Firms Select ABS Systems

Image: ABS

Singapore-based offshore marine services provider PACC Offshore Services Holdings Ltd (POSH) and the maritime logistics solutions provider Pacific Carriers Limited (PCL) have selected ABS Nautical Systems  (NS) fleet management software to support their digitalization strategy.Both PCL and POSH are part of Kuok Singapore Limited (KSL) Maritime Group of companies, with competencies extending across offshore marine services, commercial shipping and marine engineering. Both POSH and PCL operate a combined fleet of 245 vessels including tankers…

07 Jun 2019

US Oil Output Heads for More Records in 2019

Graph: Rystad Energy

U.S. total oil production, which is already off to an amazing start in 2019,  is on track to set another record for this year.New records are expected both when the final numbers for May emerge and at the end of the year, said Rystad Energy.The energy research and business intelligence company is raising its forecast for US crude output to 13.4 million barrels per day (bpd) by December 2019. For May 2019, our research and calculations point to crude oil production averaging 12.5 million bpd. Both are new all-time highs.“Our US supply projections have been revised up yet again.

27 May 2019

Wärtsilä Debuts HY for Dredgers

The Wärtsilä HY for Dredger is designed specifically to increase the efficiency and sustainability of dredging operations. Photo: Wärtsilä

Wärtsilä launched the Wärtsilä HY for Dredger, a new product based on Wärtsilä’s HY hybrid propulsion technology, aimed at enhancing the efficiency and sustainability of dredging operations.The product was recently unveiled at a Future Dredger Day event held at the Wärtsilä's Hybrid Center in Trieste, Italy. The Wärtsilä HY for Dredger features a combination of different power sources, including the engines and energy storage systems, the power distribution equipment, and the Energy Management System (EMS). The EMS ensures instant load taking and dynamic power demand.

26 May 2019

Frac Sand Prices to Remain Flat

Graph: Rystad Energy

Demand for sand to be used by the oil and gas industry in hydraulic fracturing operations in the US is set to grow by 10% in 2019 and 17% in 2020, said a report.According to Rystad Energy, frac sand supply, on the other hand, is forecast to increase by 10% in 2019 and then decrease by 2% in 2020 as more Northern White Sand will come off the market.The Eagle Ford Basin in South Texas could play a pivotal role for sand price developments going forward, said the energy research and…

17 May 2019

North Sea Oil Production May Go Down

Graph: Rystad Energy

On top of production declines in Iran and Venezuela, ongoing OPEC cuts, Urals contamination outages in Russia and maintenance in Kazakhstan, North Sea production is also struggling, Rystad Energy said."Currently we see unplanned outages at Oseberg and Flotta with combined impact of 160,000 bpd. Furthermore, the North Sea is heading into maintenance season," said the energy research and business intelligence company."We forecast North Sea oil production to drop next month to the lowest level since August 2014 as Ekofisk goes into maintenance…

10 May 2019

U.S. Shale: World’s 2nd Cheapest Source of Supply in Oil

Graph: Rystad Energy

North American tight oil is emerging as the second cheapest source of new oil volumes globally, just shy of the Middle East onshore market, Rystad Energy said.The U.S. shale oil was the world’s second most expensive oil resource just four years ago, the energy research and business intelligence company pointed out.“As the majors are struggling to replace conventional liquids, a wealthy source of additional resources is tight oil,” says Espen Erlingsen, Head of Upstream Research…

30 Apr 2019

65,000 Wells will be Drilled in 2019

Graph: Rystad Energy

Rystad Energy forecasts that the number of onshore and offshore oil and gas wells drilled globally will increase to around 65,000 in 2019.Activity levels are then projected to remain around this level through 2023, the energy research and business intelligence company said.Rystad Energy also forecasts that more than 1 million kilometers of new oil and gas wells will be drilled over the next five years. The collective depth of these wells is the equivalent of 25 times around the…

25 Apr 2019

Gas Production Set to Triple in Iraq

Graph: Rystad Energy

Gas developments in Iraq will overtake oil projects in 2019, measured in resources sanctioned for development, according to analysis from Rystad Energy."For the world’s fourth largest crude producer, natural gas is about to take pole position," said a statement from the energy research and business intelligence company.New developments are on track to triple the country’s gas production from just over 1 Bcfd in 2017 to about 3 Bcfd in 2022, according to Rystad Energy.It forecasts that gas developments in Iraq will overtake oil projects in 2019…

24 Apr 2019

Seagull Maritime Acquires Tero Marine

Photo courtesy of Seagull Maritime

Seagull Maritime announced that they have acquired a majority of the shares in Tero Marine. Tero Marine, headquartered in Bergen, Norway, has developed fleet management software for the shipping industry for more than three decades. The company’s flagship, TM Master, is recognized as one of the leading brands in the business. Today, TM Master is a crucial tool for shipowners all over the world, not only as an instrument for planned maintenance (and asset management), but also as a business intelligence resource.Tero Marine is growing fast and has currently more than 55 employees…

23 Apr 2019

GasLog, GasLog Partners Name COO Designate

Paolo Enoizi. Photo: Stolt-Nielsen

GasLog and GasLog Partners announced that Paolo Enoizi has been appointed as Chief Operating Officer (COO) Designate of GasLog and GasLog Partners.Paolo, who will be based in Piraeus, Greece, will take up his role in August 2019 and initially work alongside current COO Richard Sadler to ensure a smooth transition of responsibilities.On joining GasLog in August 2017 and in addition to his day-to-day responsibilities, Richard indicated his desire to work with the rest of the senior leadership team to identify a long-term successor for the COO role.

21 Apr 2019

LNG Prices Nosedive

Graph: Rystad Energy

A mild winter and growing surplus of supply have knocked the legs out from under Asian LNG, with spot prices plummeting more than 60% since last September, Rystad Energy, energy research and business intelligence company.Similarly, British front month prices (NBP) have dropped from $9.90 per MMBtu in September 2018 to $4.40 per MMBtu during the first week of April.Current low prices at importing markets offer producers in the main exporting countries – Australia, Qatar and the…

14 Apr 2019

Aus Upstream Capex Touches at US$10bln pa

Chart: Rystad Energy

The Australian renewable energy pipeline is surging above 100GW of solar, wind and utility storage projects. Investment is currently matching upstream capex, at US$10 bn per annum.Only 1GW is currently owned by Upstream companies – the majors, said Rystad Energy, the energy research and business intelligence company.By the end of the decade, upstream companies will be the dominant renewable developers in country and regionally. The driver will be economics as much as an increasing…

08 Apr 2019

IMO 2020 Impact on Fuel Bunker

Graph: Rystad Energy

When new International Maritime Organization’s (IMO’s) bunker fuel regulations come into effect on January 1, 2020, there remains uncertainty regarding the availability and pricing for all marine fuel, as owners grapple with technical solutions for compliance.The sulfur content limits in bunker fuels used outside the designated Emission Control Areas (ECAs) will be reduced to 0.5% (from 3.5%) to reduce air emissions from shipping.High sulfur fuel oil (HSFO) currently represents nearly 80% (approx.

04 Apr 2019

Rystad Expects Oil Price Rally in H1 of 2020

Graph: Rystad Energy

The energy research and business intelligence company Rystad Energy expects that a short-lived price rally through the first half of 2020 as oil prices approach $70 a barrel.It will then lose momentum and be replaced by a need for additional production cuts by Russia and the cartel of oil producing countries, OPEC, the Norway-headquartered firm said.“We retain our bullish stance for the second half of 2019 and first half of 2020 as we anticipate OPEC+ to extend production cuts through 2019…

27 Mar 2019

Containershipping: Restoring Balance

© Ralf Gosch/Adobe Stock

The repositioning of empty containers costs the liner industry an estimated $15-20billion every year according to Boston Consulting Group (BCG), as containers sit idle at a depot or are repositioned to a different loading point while empty. This is time spent not earning revenue, whil incurring additional costs, and is estimated by BCG to account for 5-8% of total operating costs for an average container liner. These expenses can include inland repositioning by rail or road onto a different port or terminal…

25 Mar 2019

US Re-fracking Balloons to 550 Wells

Graph: Rystad Energy

The horizontal re-frac market within the US onshore scene has boomed in the recent years, with the number of horizontal re-frac jobs increasing every year over the last 10 years, said a report.According to Rystad Energy, the energy research and business intelligence company, in 2009, fewer than 10 wells were re-fracked, but in 2018 that number ballooned to more than 550 wells.New 2018 data is still preliminary amid some reporting delays for frac jobs in the fourth quarter of 2018.

10 Mar 2019

Russian Share of European Gas Growing

Graphics: Rystad Energy

With gas supplies growing at a faster rate than domestic demand, Russia can increase pipeline and liquefied natural gas (LNG) exports to Europe, said a report.Russia’s gas production has been steadily increasing since the low of 611 Bcm in 2015, and reached 695 Bcm in 2018, according to a report form Rystad Energy, an independent energy research and business intelligence companyMature fields exhibit relatively high decline rates, but volumes from the recent start-ups and discoveries in Yamal, East Siberia and the Far East are expected to offset the decline.

08 Mar 2019

US to Overtake Saudi in Oil Exports

Graph: Rystad Energy

United States will soon export more oil and liquids than Saudi Arabia, thanks to the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.According to Rystad Energy, energy research and business intelligence company, it is a a pivotal geopolitical shift. The US has for decades relied on large-scale imports to satisfy its thirst for oil, but this is about to change.The Energy Information Administration (EIA) reported last week that the United States exported more crude and petroleum products than it imported.

03 Mar 2019

US Shale Firms Cut CapEx, Up Production

Graphics: Rystad Energy

U.S. shale energy companies are cutting their spending levels in 2019, but they're still planning on increased oil and gas output."US shale companies expect to deliver an average of 15% growth in oil production in 2019 vs. 2018. At the same time, operators say they will cut capital spending by 5% this year," said an analysis from Rystad Energy.The  energy research and business intelligence company has analyzed the recently released earnings reports for the fourth quarter of 2018 from 45 US operators…

24 Feb 2019

U.S. Fracking Shrinks by 25% in 2H2018

Graph: Rystad Energy

The new median estimate for nationwide fracking activity in December 2018 suggests 36 frac jobs per day, said a research.The energy research and business intelligence company Rystad Energy revealed in a study that 25% contraction in fracking activity between the peak in May-August 2018 and the end of the last year.It should be noted that in both November and December 2018 fracking activity level exhibits negative year-over-year change, it said."There is no doubt that significant part of this decline was driven by seasonal weather and capital constraint factors…

21 Nov 2018

The Smart Shipping Vision: Class Delivers

Image: ABS

Shipping’s digital transformation is all around us, impacting the smallest vendor to the largest owner, across flag, class and shipyards, right up to the primary regulator.In these early days, there are many competing visions of the digital future. But the central question for ship owners and operators should not be whether their partners are delivering the required solutions; it should be whether they themselves are undergoing the digital transformation of their operating models…

17 Nov 2018

BGC Enters Shipping, Buys Poten & Partners

Pic: Poten & Partners

Global financial and technology giant BGC Partners has completed the acquisition of Poten & Partners, a ship brokerage, consulting and business intelligence firm specializing in LNG, tanker and LPG markets.Under the terms of the agreement, BGC acquired 100 percent of Poten, which includes operations in New York, London, Singapore, Houston, Athens, Guangzhou and Perth, the company said in a statement.Founded over 80 years ago and with 170 employees worldwide, Poten provides its clients with valuable insight into the international oil, gas and shipping markets. Shaun D.

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