Of modest crude price gains and more
Oilholics Synonymous Report
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2w ago
In what's coming up to mid-February, oil benchmarks are largely holding on to geopolitical risk gains made since the start of the month. That's after the U.S. response to an attack on its military base in Jordan allegedly by Iranian-backed militia and Israel's rejection of a ceasefire in Gaza. Of late, Brent futures have found support around $80 per barrel mark but it remains to be seen whether the level will hold. For what its worth, the global proxy benchmark still remains in technical backwardation. It was though bemusing to read a recent Financial Times editorial declaring "The days ..read more
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The mad first month of crude trading year 2024
Oilholics Synonymous Report
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3w ago
As the first month of the current oil trading year nears its end, the Oilholic's thoughts on the direction of crude prices hasn't materially altered. We're likely to see prices oscillate in the range of $70 and $85 per barrel in 2024, using Brent as a benchmark. And that's because the bearish bias in wider market fundamentals remains the same in a different trading year, despite all the geopolitical flare-ups we've seen October. We'll touch on those later in this blog. However, admittedly it has been the maddest possible start to trading.  Feeling the pulse of the market and tepid demand ..read more
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Getting going in 2024 after a break!
Oilholics Synonymous Report
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1M ago
Greetings folks, the Oilholic is getting going meaningfully in 2024 after last year was marked by sporadic commentary and long pauses in blogging.  Sincere apologies for that as yours truly was busy juggling his departure from a full-time job at a bank and taking time out for a paternity break for much of the last quarter. All went well in the end and bubb is here safe, sound and healthy!  Call it a reboot, relaunch or a 'crude' restart - this blog is now going to be bigger and better with your support carrying regular market commentary, details of industry engagements, missive ..read more
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The challenge of producing more industrially with less
Oilholics Synonymous Report
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4M ago
Last week The Oilholic had a hectic, but fruitful and amazing trip to AVEVA World 2023 in San Francisco. Much of the discussion at the event was about one profound question - how to do more with less for the energy and industrials complex, and finding answers via the deployment of technologies such as artificial intelligence (AI), industrial internet of things (IIoT), digital twins and enhanced data analytics.  From the standpoint of the hosts - industrial software solutions and consulting firm AVEVA - the pathway forward is all about creating a connected industrial ecosystem. One that o ..read more
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Connected energy solutions at AVEVA World 2023
Oilholics Synonymous Report
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4M ago
The Oilholic is delighted to be back in San Francisco for AVEVA World 2023 - the annual client fixture for technology consulting and industrial software company AVEVA. It's also the company's first major event since being taken over by Schneider Electric in January 2023. A content packed start to the conference, being held at San Francisco's Moscone Center, has seen wide ranging discussions on connected solutions in the industrial software space, cloud-based applications and how the energy industry can turn volatility and challenges over meeting sustainability targets into opportunities ..read more
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'Crude' chat with Afentra Plc CEO Paul McDade
Oilholics Synonymous Report
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4M ago
Crude oil benchmarks have been bouncing up and down for over 10 days in the wake of geopolitical tension in the Middle East. Predictably, much of the market analysis community is obsessing over where the risk premium might go, and how to square it against the wider crude oil supply and demand dynamic.  Here are some thoughts via Forbes on what may or may not move the risk premium needle, and it must be noted that crude benchmarks are still way short of the perma-bull pipedream level of $100 per barrel.  As volatility bites, what do industry operators do to cut out the noise? Th ..read more
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Media missives from ADIPEC 2023
Oilholics Synonymous Report
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5M ago
With ADIPEC 2023 drawing to a close last week, the Oilholic capped a fascinating and engaging week with a rounding off piece for Forbes on the criticality of scaling up technology - and, of course, backing it up with petrodollars and willpower, if a meaningful energy transition is to be achieved. To this end, this blogger had great conversations with ABB, AiQ, AspenTech, AVEVA and Avaada Group. (More here) Yours truly also hit the airwaves to discuss the various soundbites coming out of the conference and various developments in Abu Dhabi, all in the midst of a very volatile crude oil ma ..read more
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ADIPEC Day IV: Reflections at sunset in Abu Dhabi
Oilholics Synonymous Report
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5M ago
The final and fourth day of ADIPEC 2023 has reached its conclusion as the sun sets here in Abu Dhabi with the show on a likely track to beat all its previous records (and quite possibly way more than the figure of 160,000 attendees it marketed).  And that makes sense, as there is likely to be immense interest and intrigue when you bring together the various energy strands of oil, natural gas and renewables; and discuss everything from power markets to the future of shipping, whilst at the same time deliberate the obvious need to decarbonise.  We came together on day one with the ral ..read more
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ADIPEC Day III: On partnerships, progress & more
Oilholics Synonymous Report
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5M ago
As Day III of ADIPEC gathered momentum and crowds grew bigger still, global crude oil markets were greeted with the news that Saudi Arabia and Russia would maintain their joint oil production cuts of 1.3 million bpd until the end of the year. However, that didn't stop global oil benchmarks from sliding lower faced with an uncertain demand picture and ever stronger US dollar.  Inside the conference halls, and away from the din of the global crude market, various speakers called for heathy and meaningful cross-sector partnerships to open viable energy transition pathways. These may ideall ..read more
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ADIPEC Day II: On techies, ministers, sessions & more
Oilholics Synonymous Report
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5M ago
Day II of ADIPEC in Abu Dhabi, UAE began on an even busier note and one group that's making quite a lot of the noise is that of the techies. Microsoft, Google, Amazon Web Services - you name it - are all here! Spokespersons and sales people of many are telling yours truly that "big data" is the new oil, and well ...err .... doubly so for oil, gas and energy companies clubbed together.  Much of the chatter they are offering is about utilising cloud computing and, of course, pitching innovations in new areas such as machine learning, artificial intelligence (AI), Internet of Things (IoT) a ..read more
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