Industry Insights

Selective extraction of asphaltenes (SELEX-Asp) technology-a solvent-based physical separation process capable of selectively removing asphaltenes as dry granulates in heavy crude oils and petroleum residue-has emerged as an alternative treatment option that could deliver cleaner, higher-quality feedstock immediately usable across multiple processing units. Source: News

A Union Pacific freight train derailed in Oregon on June 3, overturning 14 tank cars carrying Bakken crude oil and forcing Wasco County authorities to evacuate a nearby town in the upper Columbia River Gorge. Source: News

While this price rebound may appear illogical, a rally often occurs after prices have fallen sharply during the first leg of a bear market. Unsurprisingly, then, after the rebound ran its course, WTI prices continued to fall to a 1-day low of $27/bbl in mid-February 2016. Source: News

Statoil ASA has awarded a $72-million contract to Rosenberg WorleyParsons AS for fabrication of three bridges and two flare towers for platform construction for the Johan Sverdrup development offshore Norway in the North Sea. Source: News

Hybrid fracturing used in combination with secondary fracturing boosted stimulated reservoir volume (SRV) and conductivity in a pilot on Dagang-field vertical oil wells in China’s Bohai basin. Source: News

Light, sweet crude oil prices fell June 3 on the New York market on a combination of a higher rig count, weaker-than-expected job statistics, and a weakening dollar. Oil is traded in dollars and becomes cheaper for foreign buyers when the dollar falls. Source: News

A new tapered bearing assembly, developed specifically for roller-cone rock bits, significantly increased bit life for a Middle Eastern operator. Source: News

European governments are reluctant to promote shale gas development even though technology has advanced and extraction processes have matured in North America.  Source: News