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Eni launched a $100M supercomputer to enhance oil/gas exploration, clean energy, CO2 storage, batteries, biofuels, and biochemistry.

Eni launches supercomputer to improve oil and gas exploration

Italy’s supermajor Eni launches supercomputer that is the world’s most powerful supercomputer outside the United States in a bid to boost its oil and gas exploration results, the Financial Times reported, adding that the company will also use the supercomputer “to perform calculations to advance clean energy.”

Eni itself said back in November, when it introduced the supercomputer to the world, that the supercomputer will help it “optimize industrial plant operations, enhance the accuracy of geological and fluid dynamics studies for CO2 storage, develop more efficient batteries, optimize the biofuel supply chain, and develop innovative materials for applications in biochemistry.”

The machine costs more than $100 million and ranks fifth among the world’s biggest and most powerful supercomputers, Eni said back in November.

“A lot of the other companies realised it would be more efficient to rent time on someone else’s supercomputer,” Thunder Said Energy analyst Rob West told the Financial Times in comments on the Eni news. This even includes the U.S. supermajors, Exxon and Chevron, which have been using the supercomputers at the U.S. National Center for Supercomputing Applications.

Eni, however, has decided to stick with proprietary technology driving both its core oil and gas business and, apparently, its expansion into energy transition technology.

Approach to conventional and green energy development

For years, Eni has been taking a different approach to conventional and green energy development, unlike any of the other major international oil and gas firms. The Italian major is divesting or creating joint ventures to operate oil and gas assets internationally while grouping some low-carbon initiatives and projects into separate firms.

Key to these spin-offs and the so-called ‘satellite strategy’ are the separate balance sheets of the companies.

“The satellite model is an approach we have built to have additional funding sources to keep together the need to meet demand for traditional products, while also developing new, greener products,” Eni’s chief financial officer Francesco Gattei told Reuters.

By Irina Slav for Oilprice.com

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Source: Oil Price

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President-elect Trump warned the EU that US tariffs will target exports if its member states don't buy more American oil and gas.

Trump threatens tariffs if EU doesn’t buy more US oil and gas

President-elect Donald Trump threatens tariffs on the European Union. Its exports will get hit with US tariffs if its member states don’t buy more American oil and gas.

“I told the European Union that they must make up their tremendous deficit with the United States. This is by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way!!!,”. he said on Truth Social.

The US is the world’s largest producer of crude oil and the biggest exporter of liquefied natural gas. LNG buyers — including the EU and Vietnam — have already talked about purchasing more fuel. They are planning to get it from the US as part to deter the threat of tariffs.

The euro traded 0.3% stronger at $1.0398 Friday in a sign investors believe the bloc will be able to meet its demands and avoid punitive measures.

The US goods and services trade

The US goods and services trade deficit with the EU was $131.3 billion in 2022, according to the office of the US Trade Representative, and the EU has been bracing for a trade offensive ever since Trump’s election victory last month.

The bloc was largely caught off-guard in 2017 when Trump, citing national security concerns in his previous term as president, levied tariffs on European steel and aluminum. Since then, the EU has reinvented its trade doctrine and expanded its toolbox, giving it a range of options to counter coercive practices.

“We are well-prepared for the possibility that things will become different with a new US administration. German Foreign Minister Annalena Baerbock said after a Group of Seven meeting in Italy in late November. “If the new US administration pursues an ‘America first’ policy in the sectors of climate or trade, then our response will be ‘Europe united.’”

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Source: Bloomberg

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Trump Is Ready ‘Within Seconds’ to Issue Orders Spurring Drilling

US President-elect Donald Trump is poising to order changes. It is to encourage spurring drilling domestic oil and gas development immediately after his Jan. 20 inauguration.

“President Trump is going to get to work on day one. This is within seconds of his arrival at the Oval Office.” Karoline Leavitt, a spokeswoman for the Trump-Vance transition team, told Fox News Tuesday. She said that includes executive orders “to drill, baby, drill,”.  Moreover “to expedite permits for drilling and for fracking all over this country so we can immediately bring down the cost of living.”

Leavitt’s comments offer a glimpse at administrative actions Trump could set in motion his first day as the nation’s 47th president, including policy changes that would be executed by federal agencies over months or years to come.

Trump telegraphed similar ambitions on the campaign trail, vowing to “unleash domestic energy production like never before”. This is by ending “delays in federal drilling permits and leases,” freeing up “vast stores of liquid gold. These are all on America’s public land for energy development.” He will also be removing “all red tape that is leaving oil and natural gas projects stranded.”
Trump followed a similar path during his first term in officel. This is with a day-one directive meant to advance the construction of two oil pipelines and a separate executive order tasking federal agencies with scouring regulations for any that burden the development or use of domestically produced energy resources.

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Source: Bloomberg

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US oil and gas producers

US oil and gas producers pressure House to pass pivotal permitting bill and get America ‘back on track’

A group of U.S. oil and gas producers is upping the pressure on House Speaker Mike Johnson. It is for him to push through a major permitting reform bill. They are stressing in a letter Wednesday the urgency for the chamber to move swiftly on approving the legislation. They see this as crucial for attracting new investments in domestic oil and gas projects. It will bolster national energy security and breathe new life into other long-stalled energy infrastructure projects.

The letter was by a coalition of U.S. oil and gas groups who represent 80% of domestic fossil fuel production. They stressed the need for House Republicans to swiftly and “immediately” pass the Energy Permitting Reform Act. It is the 2024 bill by Sens. Joe Manchin, I-W.Va., and John Barrasso, R-Wyo. They describe that legislation as crucial to helping expedite actions for producers under the second Trump administration.

Comprehensive Permit

“This bill is merely the first step towards comprehensive permitting reform in this country. We believe that passing the package now, at the end of the 118th, and then earnestly advancing additional National Environmental Policy Act reforms such as those being drafted by Chairman Westerman in the Natural Resources Committee, will ensure that America can get back on track as quickly as possible,” the letter said.

Pressure on Johnson and House Republicans has mounted in recent days as lawmakers prepare for a final sprint before the end of the 118th session of Congress. Some have suggested the bill’s best chances of passage are by paring it with NEPA reform — likely efforts championed by House Natural Resources Committee Chairman Bruce Westerman, R-Ark., which could earn the permitting reform bill more buy-in from House Republicans.

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Source: Fox News

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Oil and Gas Industry Regulatory Rollbacks

Oil and Gas Industry Regulatory Rollbacks Anticipated Under Trump

President-elect Donald Trump outlines his priorities for the new administration. He is falling back on his old habit of announcing major policy initiatives and plans through social media. Government think tanks and politicians have begun recalibrating their expectations for the next four years. His latest views on tariffs on the US’s three largest trading partners were on social media platform Truth Social. Policy action by the world’s most powerful nation has ramifications worldwide. It will require other nations to brace for impending changes as the new government takes charge in January. Learn more about the coming oil and gas industry regulatory rollbacks.

While presidential polls in the world’s most powerful nation always have major implications with respect to global geopolitics and trade, few have been as crucial as the one this month. The latest results come against a highly turbulent backdrop of challenges and upheavals at home and abroad. What was widely to be one of the closest elections in recent history instead turned out to be an overwhelming victory for Trump, making an extraordinary comeback following his election loss in 2020. With the US presidency and Senate races called in favor of Trump and Republicans, and the party maintaining its majority in the House of Representatives – the new administration will hold full control over Congress.

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Source: Oil Price

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The oil and gas pumps market is projected to experience strong growth, reaching $18.3 billion by 2028 with a CAGR of 8.0%.

Oil and gas pumps market to reach $18.3B by 2028

The oil and gas pumps market has substantial growth in recent years. It is increasing from $12.55 billion in 2023 to $13.45 billion in 2024. It has a compound annual growth rate (CAGR) of 7.2%. This growth during the historic period is driven by factors such as rising global demand for oil and gas products. There is an expansion in upstream exploration and production activities. Moreover, there is growth in the refining and petrochemical industries. The need for improved efficiency and reliability in pumping systems, and a focus on offshore oil and gas development.

How Big Is the Global Oil And Gas Pumps Market Expected to Grow, and What Is Its Annual Growth Rate?

The oil and gas pumps market is will experience strong growth. It will be reaching $18.3 billion by 2028 with a compound annual growth rate (CAGR) of 8.0%. This growth is by the integration of IoT and automation into pumping systems. It is increasing demand for eco-friendly and low-emission pumping solutions, advancements in high-pressure and high-temperature pumping technologies, the expansion of natural gas processing and LNG facilities, and a growing focus on pumping solutions for carbon capture and storage (CCS). Key trends influencing the market include the adoption of digital twin technology and predictive maintenance, the development of high-pressure and high-temperature pumps, subsea pumping innovations, progressing cavity pumps for heavy crude oil, hydraulic fracturing equipment, and pumping solutions designed for enhanced oil recovery (EOR).

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Source: EIN News

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Lost oil and Gas Wells - AI helps researchers dig through old maps

Lost oil and Gas Wells – AI helps researchers dig through old maps

Scattered across the United States are remnants from almost 170 years of commercial drilling. There are hundreds of thousands of lost oil and gas wells. These wells (UOWs) are not listed in formal records, and they have no known (or financially solvent) operators. They are often out of sight and out of mind – a hazardous combination.

If the wells aren’t properly plugged, they can potentially leak oil and chemicals into nearby water sources. Moreover, it could send toxic substances like benzene and hydrogen sulfide into the air. They can also contribute to climate change by emitting the greenhouse gas methane, which is about 28 times as potent as carbon dioxide at trapping heat in our atmosphere on a hundred-year timescale (with even higher global warming potential over shorter periods).

To find UOWs and measure methane emissions in the field, researchers are using modern tools, including drones, laser imaging, and suites of sensors. But the contiguous United States covers more than 3 million square miles. To better predict where the undocumented wells might be, researchers first pair the new with the old: modern artificial intelligence (AI) and historical topographic maps.

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Source: BERKELEY LAB

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According to HTF Market Intelligence, the Global Oil & Gas Infrastructure market is expected to grow from $650B in 2024 to $1,000B by 2032, with a 6% CAGR.

Oil and gas infrastructure market expects significant growth per report

HTF MI recently introduced Global Oil and Gas Infrastructure Market study with 143+ pages in-depth overview. It describes the Product / Industry Scope and elaborates market outlook and status (2024-2032). The market Study is by key regions which is accelerating the marketization. At present, the market is developing its presence. Some key players from the complete study are Schlumberger, Halliburton, Baker Hughes, TechnipFMC, Saipem, Bechtel, Worley, Wood, Aker Solutions, KBR, etc..

Download Sample Report PDF (Including Full TOC, Table & Figures) 👉 https://www.htfmarketreport.com/sample-report/2164591-global-oil-and-gas-infrastructure-market?utm_source=Altab_OpenPR&utm_id=Altab

According to HTF Market Intelligence, the Global Oil and Gas Infrastructure market is expected to grow from 650 Billion USD in 2024 to 1,000 Billion USD by 2032, with a CAGR of 6% from 2024 to 2032.

The Oil and Gas Infrastructure market is segmented by Types (Drilling, Production, Refining, Transport), Application (Exploration, Offshore, Onshore, Refining) and by Geography (North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA).

Definition:
Oil and Gas Infrastructure involves the systems and facilities necessary for the exploration, extraction, processing, and transportation of oil and gas. This includes drilling rigs, pipelines, refineries, and storage facilities. It requires substantial investments, technological innovations, and expertise in project management. The sector faces increasing demands for sustainable energy solutions and cleaner technologies. This is also managing the challenges of fluctuating commodity prices and global regulations. Energy infrastructure is a key driver in meeting global energy needs. Moreover ensuring economic stability, and promoting industrial growth.

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Source: Open PR

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OAPEC said global exports of liquefied natural gas (LNG) reached a record high of 106.4 million tons in the first quarter of 2024.

Global LNG Exports Hit A Record High in Q1

Global exports of liquefied natural gas (LNG) reached a record high of 106.4 million tons in the first quarter of 2024, the Organization of Arab Petroleum Exporting Countries (OAPEC) said.

In the second quarter of the year, LNG exports dropped compared to the first quarter, to 98.6 million tons, according to an analysis of the organization cited by Shafaq News. The second-quarter global LNG exports were down by 0.4% compared to the same period of last year.

In the third quarter, LNG exports rebounded to 100.9 million tons, up by 2.5% compared to the third quarter of 2023, according to the analysis by OAPEC.

LNG exports globally rose by 1.9% between January and September from a year ago, to 305.9 million tons, the organization said.

Per the OAPEC estimates, the United States remained the world’s top LNG exporter in the first nine months of the year, ahead of Australia and Qatar.

The expansion of the LNG export infrastructure over the past five years and the flexibility in cargo destination of U.S. LNG have made America the world’s biggest exporter of liquefied natural gas.

Soaring sales in Europe, which has scrambled to replace Russian pipeline gas, and more LNG projects coming online this decade boosted U.S. exports by 12% in 2023 from a year earlier. At 11.9 billion cubic feet per day (Bcf/d) of LNG exports, the United States easily beat its closest rivals – Qatar and Australia – to become the biggest LNG exporter last year, EIA data showed.

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Source: Oil Price

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Fracking, shorthand for hydraulic fracturing, is set to become a cornerstone of President-elect Donald Trump's energy agenda.

Domestic oil, gas production will be big part of Trump agenda

Fracking, shorthand for hydraulic fracturing, is set to become a cornerstone of President-elect Donald Trump’s energy agenda. Let’s talk more about this domestic oil issue.

While it is worth noting that the U.S. is producing more oil and gas than ever before, Trump has repeatedly championed fracking production, promising a boom that will lower energy costs and bolster America’s energy independence.

But what exactly does that mean?

Domestic Oil Fracking

The process is central to Trump’s pledge to expand America’s energy dominance. “We will end Kamala’s war on American energy, and we will drill, baby, drill,” Trump said during a press conference in August.

A push for increased drilling

A key player in Trump’s second-term energy strategy is Chris Wright, founder of Liberty Energy and a pioneer of the American shale revolution, whom Trump has nominated to lead the Department of Energy. Known as a climate change skeptic, Wright’s nomination signals a strong push for increased drilling on federal lands.

Currently, only 24% of fracking occurs on federally leased land. Wright and Trump have indicated plans to increase this share, streamline permitting processes and reduce regulatory hurdles.

Wright will join Trump’s new Council of National Energy? Which Interior Secretary nominee Doug Burgum will lead according to the president-elect?

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Source: USA Today

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