Palantir, Trafigura to Track Carbon Emissions for Oil, Metals industry
Palantir Technologies Inc and global commodities trader Trafigura have set sights on a new market, their chief executives told Reuters on Monday: tracking carbon emissions for the oil, gas, refined metals, and concentrates sector.The companies are building a platform for oil majors and other commodities firms to vet the environmental impact of their supply chains, applying Trafigura's data to Palantir's operating system…
Digitalization: Trust - The Keystone for Digital Transformation
The slowdown of the world economy and plummeting energy consumption have eclipsed most other industry news. Oil exporting countries are coming to terms with limiting production to sustain reasonable prices, and operators are looking for ways to improve efficiency. At the same time, the marketplace created by the pandemic is forcing companies to work differently. Telepresence and remote work have become the norm, and this directly impacts how work is organized and relationships are maintained.
Siemens to Give Shareholders 55% of Energy Business Spin-off
Siemens will give 55% of its power business to shareholders when it spins it off in September, the German engineering group said on Tuesday, the latest stage in its shift away from a sprawling conglomerate.The trains to industrial software maker then wants to "significantly" reduce its remaining 45% position within 12 to 18 months after the shares are listed on Sept. 28, Siemens said, detailing the separation…
Danos Leverages VR for Training and Assessment
Services company Danos said it is tapping virtual reality (VR) technology to assess and train its employees, in an effort to drive down costs for customers while increasing safety and minimizing exposure.“It’s critical that employees be assessed for competency, and the costs and risks of doing this on site are tremendous,” said the company's owner Eric Danos. “By eliminating the need to send employees offshore or to a remote job site…
Partners Bring AI to Energy
Baker Hughes, C3.ai, and Microsoft Corp. announced an alliance to bring enterprise artificial intelligence (AI) solutions to the energy industry on the Microsoft Azure cloud computing platform.This alliance will enable customers to streamline the adoption of scalable AI solutions for the energy industry that help promote safety, reliability, and sustainability. It leverages the energy technology expertise of Baker Hughes…
Pemex Won't Pay Ransom After Cyberattack
Mexican national oil company Pemex will not pay a ransom demanded by suspected cyberattackers who targeted the firm's computer systems, Energy Minister Rocio Nahle told reporters on Wednesday.Nahle, who also serves as chair of the Pemex board, added that the attack hit the company's administrative headquarters in Mexico City and that its "plants and wells" continued to operate.Hackers have demanded some $5 million in bitcoin from Pemex.The hack was first detected on Sunday, forcing the company to shu
New App Aims to Improve Project Performance
An Aberdeen-based company has created a lessons learned management system that captures critical project data and helps inform the future performance of complex oil and gas developments globally.Prism Energy, which provides project and risk management applications and consultancy, has worked closely with Genesis over the past 12 months to build a bespoke solution that will assist continuous development.Track…
TGS Acquires Production Data Firm
TGS said it has purchased all outstanding shares and completed the acquisition of Lasser, Inc., a Fort Worth-based company which provides historical and monthly oil and gas production data.Lasser owns, maintains and licenses a nationwide U.S. offshore and onshore well production database. The data will be added to TGS’ current Well Performance Database and provides TGS clients access to previously unavailable historical production data.
Worley, AVEVA to Roll Out Cloud-based EPC Solution
Engineering and industrial software company AVEVA announced that Worley has selected AVEVA’s Enterprise Resource Management solution as its preferred materials management platform. The partnership combines Worley’s engineering, procurement and construction (EPC) knowledge with AVEVA’s industrial software expertise to deliver the first cloud-based Enterprise Resource Management solution optimized for the EPC market.As EPC projects operate as mini-enterprises…
Woodside to Implement Schlumberger's DELFI
Australia's largest oil and gas operator Woodside Energy will leverage Schlumberger's DELFI cognitive cloud-based software environment in an effort to increase consistency, reduce study cycle time and foster innovation in its subsurface characterization and development activities, Schlumberger announced on Tuesday.According to Schlumberger, the DELFI environment delivers extensive integration and connectivity across E&P domains from planning to operations, built around openness and extensibility.
BHGE to Bring AI to Oilfield
Oilfield service company Baker Hughes, a GE Company (BHGE) has entered into a joint venture with the California-based Artificial Intelligence (AI) software provider C3.ai to accelerate the digital transformation in the oil and gas industry."AI in the oil and gas segment helps improve overall performance by ingesting massive quantities of data, becoming intelligent about specific operational environments and predicting problems before they occur so that operators can improve planning…
Total Launches New Supercomputer
Energy major Total said its new supercomputer - which has propelled it to a world ranking as the most powerful computer in the sector - will enable its geologists to find oil faster, cheaper and with a better success rate.The Pangea III computer build by IBM will help process complex seismic data in the search for hydrocarbons 10 times faster that before, Total said on Tuesday.The computing power of the company has been increased to 31.7 so-called 'petaflops' from 6.7 petaflops in 2016…
Talakar Named CEO of Siemens Oil & Gas
Arja Talakar has been appointed CEO of Siemens Oil & Gas, effective April 1, 2019. He will be based in Houston.Talakar brings to this position extensive leadership experience. Prior to taking this new role, he was responsible for Siemens Saudi Arabia. He began his career with Siemens in 1996 as a rotating equipment and automation systems engineer and has since held several roles of increasing responsibility…
Gazprom Neft, Schlumberger Partner on Well Logging
Gazprom Neft and Schlumberger have agreed to enter technological cooperation in well logging. “Gazprom Neft is committed to developing its scientific, intellectual, staffing and technological capabilities, supporting a collaborative ecosystem and building an inclusive innovation-focused environment,” said Gazprom Neft First Deputy CEO Vadim Yakovlev.The parties will join the expert potential of Schlumberger and hands-on experience of Gazpromneft-Noyabrskneftegazgeofizika (Gazpromneft-NNGGF…
Woodside Invests in Cyber Security
Australia's largest independent oil and gas company said it has invested in a Western Australian company specializing in the protection and security of critical infrastructure.Woodside will take a 10% shareholding in Sapien Cyber, subject to satisfaction of conditions precedent, the company said on Monday.Sapien Cyber is a 100% Australian-owned technology platform that provides clients unprecedented network visibility…
Baker Hughes Adjusted Profit Surges 85%
Baker Hughes, General Electric Co's oilfield services arm, posted an 85 percent jump in adjusted quarterly profit on Thursday, boosted by surging demand for its services.Unlike rivals Schlumberger NV and Halliburton Co, Baker Hughes has less exposure to the North American pressure pumping sector, where demand softened last year due to transportation bottlenecks in key oil producing basins and a sharp decline in oil prices in the fourth quarter.U.S.
BP Invests in New AI Technology
BP has invested further in artificial intelligence (AI) technology as part of an effort to accelerate project lifecycles, from exploration through to reservoir modeling.The super major announced Monday that its technology investment arm BP Ventures has infused $5 million into a Series A financing for Houston technology start-up Belmont Technology, which has developed a cloud-based geoscience platform that uses AI.Belmont’s platform…
Schlumberger Sees International Growth in 2019
Schlumberger NV on Friday reported quarterly revenue that topped estimates and forecast single-digit growth in international markets this year even as crude prices have tumbled roughly 30 percent since October.With the drop in oil prices many producers were evaluating spending budgets for 2019, stoking concerns that a slowdown in activity would hurt oilfield service companies that have struggled to boost prices since the 2014 downturn.Schlumberger…
Wellit Partners with Norvestor
The owners of software company Wellit have decided to sell 60 percent of company shares to private equity company Norvestor.Wellit develops logistics solutions for the global oil and gas industry. Its software, WELS, is a cloud-based multi-tenant platform tailored to the oil and gas industry.WELS enables all involved parties in the oil and gas value chain to communicate on one logistics platform, thereby removing the risk of miscommunication and duplicate information.
ExxonMobil, IBM Partner on Quantum Computing
Oil supermajor ExxonMobil announced Tuesday it has signed a partnership agreement with technology giant IBM to advance the potential use of quantum computing in developing next-generation energy and manufacturing technologies.The agreement sees ExxonMobil become the first energy company to join the IBM Q Network, a worldwide community of Fortune 500 companies, startups, academic institutions and national…
