16 October 2024
16 October 2024
The International Energy Agency (IEA) has downgraded its expected oil demand, with major consumers, particularly China, likely to see flat economic growth in 2025.
Sinopec's shale oil field is producing 1,600 tonnes per day (tpd), aiming for 500,000 tonnes per annum (tpa) by 2025.
The use of robotics presents an excellent solution to many challenges within the industry.
The company attributes the prediction to a 65% reduction in refining margins and a concurrent fall in global oil prices.
The energy giant is aiming to reach a production milestone of one million barrels of oil equivalent per day (mboe/d) in the Permian Basin by 2025.
The sale, which could potentially bring in upwards of $500m, forms part of Exxon's broader strategy of regular portfolio assessment.
The Kinetic Blowout Stopper (K-BOS) system is expected to strengthen the company's market position and enhance its capability to secure new contracts.
The project's scope includes assessing carbon dioxide (CO₂) storage potential at the planned site, with the goal to commence operations by 2030.
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