Ny rekord igjen for oljeprisen og dollaren

[OJB]

Dagens oljepris faller noe til USD 84,86 pr fat.

Sakset fra dagens World Oil ;

The chicken or the egg: Deciding between digital transformation and cybersecurity

As companies adopt new technologies to make business more effective and efficient, new risks emerge, and old risks evolve. This requires great cybersecurity that has tools and processes built to adapt to change with minimal effort.

Danielle Jablanski / Nozomi Networks

The exploration, drilling, completion and production operations of offshore and onshore oil and gas are experiencing increased cyber incidents. Malicious actors are seeking to extort owners and operators for money and sensitive data, or distort physical processes and disrupt operations. Outdated OT systems, flat networks, insecure IoT devices, vulnerable control systems and porous IT environments are high-value targets. Despite this reality, technology is not the enemy.


The evolution of operational technology (OT) and industrial control systems (ICS) in oil and gas operations have moved from on-premises connectivity between systems, often using ethernet, to connecting multiple sites and often remote locations, to the expansion of supervisory control and data acquisition (SCADA) architectures, and increasingly, the adoption of cloud technologies.

As companies adopt new technologies to make business more effective and efficient, new risks emerge, and old risks evolve. Common risks, including copycat cyber criminals and disorganized dark web scammers, continue to look for low-hanging fruit and easy-to-target enterprises, Fig. 1. An emerging and more concerning cyber-physical risk has been the evolution of “killware”—malware focused on causing harm to workers or populations in close proximity to a targeted system or enterprise.

 

[OJB]

Ingen særlig endring i oljeprisen fra igår , litt over 84 USD/fat.

Sakset fra dagens World Oil;

EU talks stall over price level for proposed Russian oil cap
Ewa Krukowska and Alberto Nardelli, Bloomberg November 23, 2022

(Bloomberg) — Talks between European Union nations on where to set a proposed Group of Seven price cap on Russian oil bogged down Wednesday evening, as governments split over how to design the plan, according to people familiar with the matter.


The EU’s executive arm proposed a level of $65 a barrel, which Poland and the Baltic nations rejected as being too generous to Moscow, the people said. But several countries with major shipping industries, including Greece and Malta, don’t want to go below $70, the upper end of the range put forward by the EU earlier Wednesday.

Ambassadors are scheduled for more talks Wednesday night. If an agreement isn’t reached, they could reconvene as early as Thursday to continue their discussions. The EU’s energy ministers are also set to meet Thursday to discuss measures to contain the price of natural gas.

“We’re looking for ways how this can work and how one can find a common basis so that this can be implemented in an ideally pragmatic and efficient way while at the same time avoiding that this could lead to excessive disadvantages for the countries of the European Union,” German Chancellor Olaf Scholz told reporters Wednesday night. “But for my part, I want to say that I’m pretty confident that we’ll get this done soon.”

At $65, the price cap would be well above Russia’s cost of production. But since Russia is already selling its crude at discounts, a high cap would likely have minimal impact on trading.

The EU and G-7 had originally hoped to sign off on the price cap level on Wednesday. The cap needs the backing of all EU member states to be approved.

Oil prices fell earlier Wednesday after Bloomberg reported the proposed price range. One reason traders appeared to shrug it off is that insurers and shippers will simply have to make sure the cargoes they carry were sold below the cap price. If the cap comes in close to existing discount levels, Russia could claim it’s conducting business as usual.

“Russian oil currently trades at a significant discount compared to Brent, around $65 per barrel,” said Simone Tagliapietra, a senior fellow at the Bruegel think tank in Brussels. “Should the G-7 price cap for Russian oil be set at a similar level, it wouldn’t do much harm to Russia.”

The aims of the price cap were always ambiguous: The US wanted to make sure Russian oil kept flowing while also trimming Moscow’s revenue. The EU sanctions initially were more focused on reducing revenue for Vladimir Putin’s war machine. The result of the hard-negotiated cap has been to soften the impact of the impending EU sanctions.

 

[OJB]

Dagens oljepris noe opp igjen til 86,75 USD/fat

 

[OJB]

Dagens oljepris noe opp igjen til 87.08 USD/fat

Sakset fra dagens World Oil ;


Eni in talks to buy Neptune Energy for $5 billion
Dinesh Nair and William Mathis, Bloomberg December 01, 2022

(Bloomberg) — Eni SpA is considering a takeover of private equity-backed oil and gas explorer Neptune Energy Group Ltd., people familiar with the matter said, in what would be a rare upstream acquisition by a European major amid the broader industry shift to renewables.


The Italian energy giant is working with an adviser as it studies the feasibility of a deal, according to the people, who asked not to be identified discussing confidential information. Neptune, which is backed by Carlyle Group Inc. and CVC Capital Partners, could be valued at more than $5 billion in a takeover, they said.

Deliberations are in the early stages, and no final decisions have been made. Neptune could also pursue alternative transactions such as an initial public offering, the people said. Representatives for Eni and Neptune declined to comment.

For Eni, a deal would offer the opportunity to expand its natural gas business, something that’s key to its growth plans. It’s aiming to boost gas to be more than 90% of its hydrocarbon production by 2050 as it cuts oil and lowers the overall carbon emissions of its portfolio. Roughly three quarters of Neptune’s production comes from natural gas in the North Sea, North Africa and Asia -- all in regions where Eni operates.

Neptune was formed in 2015 by former Centrica Plc boss Sam Laidlaw. Its owners have been working with advisers including Rothschild & Co. and Goldman Sachs Group Inc. to explore options for its business, including a possible sale.

Dealmaking in the oil and gas sector is accelerating as global governments prioritize security of supply and the biggest players and investors seek to deploy capital. Carlyle is exploring a multibillion-dollar bid for a large part of Austrian energy company OMV AG’s oil and gas portfolio, Bloomberg News reported this week.

Many of the mergers and acquisitions have been targeted toward more environmentally-friendly sources of energy. Shell Plc has just agreed to buy Nature Energy Biogas A/S for nearly $2 billion. That followed a similar move by BP Plc, which struck a $4.1 billion deal to acquire Archaea Energy Inc. earlier in the fall.

 

[Someone]

Touchet såvidt under $80 nå i dag

 

[LN-MOW]

Nede i 2.64/gallon på pumpa her i Cumming ...

 

[OJB]

Dagens pris har falt ned til 77,45 USD/Fat

Sakset fra dagens World Oil ;

Baker Institute: EU gas market to remain ‘precarious’ through next winter
World Oil Staff December 07, 2022

(WO) – Europe is facing high natural gas prices and high uncertainty due to the substantial reduction in Russian imports, and this winter is only the beginning, according to a new report from Rice University’s Baker Institute for Public Policy.


After Russia’s invasion of Ukraine, energy security is at top of mind for most European policymakers and the general public. The report, from experts at the Baker Institute’s Center for Energy Studies, analyzes three scenarios for Germany this winter, through next year and into next winter — and all show the gas market balance as “precarious” throughout.

“Management will require fuel-switching, demand-rationing and a concerted effort to bring new gas supplies to Europe, all while policymakers must thread the needle of keeping energy supplies affordable for the general public,” wrote co-authors Ken Medlock, Anna Mikulska and Luke (Leelook) Min.

The impacts of reduced Russian natural gas supplies to Europe have spillover effects for the world, they argue. The report focuses on Germany as a case study for the European market and the issues that the European Union will face. Germany is its largest economy and relies on natural gas for manufacturing — meaning the country has a large effect on gas availability and economic performance in the EU.

Large industrial consumers are already feeling the effects. Consumption was reduced by 27.4% in October 2022 compared to average in the years 2018-2021.

New liquified natural gas (LNG) imports and additional pipeline supplies from other producing regions are not enough to make up for the almost 40% Russian market share in Germany — similar to the percentage in the EU. Recently, European LNG terminals have been operating at maximum capacity to fill storage for the coming winter, according to the report.

“Already, European demand for LNG imports forced LNG prices to new and unprecedented highs, driving a redirection of marketed volumes away from Asia to Europe,” the authors wrote. “This stands in stark contrast to the status quo that generally persisted previously, in which Europe was viewed as a ‘market of last resort’ for global LNG volumes.”

The global market will not be able to rapidly adjust to make up for lost Russian gas supplies into Europe due to infrastructure and logistical constraints. Infrastructure projects like the Nord Stream 2 pipeline deterred investments in other sources of supply. Therefore, the historical reliance on Russian natural gas has set the stage for difficulties to persist and possibly become even worse in 2023, according to the report.

 

[Someone]

USD har duppet under 10 NOK nå

 

[OJB]

Dagen pris er 76,50 USD/fat

En del ned nå på grunn av øket produksjon i OPEC/Midtøsten etter press fra US.

Sakset fra dagens Word Oil ;

IEA: How the European Union can avoid gas shortages in 2023
World Oil Staff December 12, 2022

(WO) — The European Union faces a potential shortfall of almost 30 billion cubic meters of natural gas in 2023 – but this gap can be closed, and the risk of shortages avoided through stronger efforts to improve energy efficiency, deploy renewables, install heat pumps, promote energy savings and increase gas supplies, the IEA says in a new report released today.


The report – How to Avoid Gas Shortages in the European Union in 2023 – sets out a suite of practical actions that Europe can take to build on the impressive progress that has already been made in 2022 in reducing reliance on Russian gas supplies and filling gas storage ahead of this winter.

The report cautions that 2023 may well prove to be an even sterner test for Europe because Russian supplies could fall further, global supplies of LNG will be tight – especially if Chinese demand for LNG rebounds – and the unseasonably mild temperatures seen at the start of the European winter are not guaranteed to last.

IEA Executive Director Fatih Birol launched the report alongside European Commission President Ursula von der Leyen at a press conference in Brussels today – ahead of the Extraordinary Meeting of EU Energy Ministers on Dec. 12 and the Meeting of the European Council on Dec. 15.

“We have managed to withstand Russia’s energy blackmail. With our REPowerEU plan to reduce demand for Russian gas by two-thirds before the end of the year, with a mobilization of up to €300 billion ($368,290,500.00) of investments. The result of all this is that we are safe for this winter,” said European Commission President Ursula von der Leyen.

“So, we are now turning our focus to preparing for 2023, and the next winter. For this, Europe needs to step up its efforts in several fields, from international outreach to joint purchasing of gas and scaling up and speeding up renewables and reducing demand,” she continues.

“The European Union has made significant progress in reducing reliance on Russian natural gas supplies, but it is not out of the danger zone yet,” said IEA Executive Director Fatih Birol. “Many of the circumstances that allowed EU countries to fill their storage sites ahead of this winter may well not be repeated in 2023.

Birol continues, “The IEA’s new analysis shows that a stronger push on energy efficiency, renewables, heat pumps and simple energy-saving actions are vital to head off the risk of shortages and further vicious price spikes next year.”

As a result of measures taken by European governments and businesses throughout 2022 in response to the energy crisis, as well as the demand destruction caused by huge price spikes, the amount of gas in EU storage sites was well above the five-year average at the start of December, providing an important buffer going into winter.

Consumer actions, increased non-Russian gas supplies and mild weather also helped compensate for the drop in Russian deliveries in 2022.

Measures already taken by EU governments on energy efficiency, renewables and heat pumps should help reduce the size of the potential gas supply-demand gap in 2023. A recovery in nuclear and hydropower output from their decade-low levels in 2022 should also help narrow the gap.

Despite all of this, the EU’s potential gas supply-demand gap could reach 27 billion cubic meters in 2023 in a scenario in which gas deliveries from Russia drop to zero and China’s LNG imports rebound to 2021 levels, according to the report.

Additional actions on energy efficiency, renewables, heat pumps, energy savings and gas supplies can close these gaps, the report’s analysis shows.

In order to incentivize faster improvements in energy efficiency, the report recommends expanding existing programs and increasing support measures for home renovations and the adoption of efficient appliances and lighting. It also recommends using more smart technologies and encouraging gas-to-electricity switching in the industry.

To speed up permitting for renewables, the report proposes adding administrative resources and simplifying procedures. It also proposes more financial support for heat pumps and changes to tax laws that penalize electrification.

It also calls for more and better campaigns to get consumers to cut their energy consumption, and details various programs from a wide range of countries that can serve as best practices.

On the supply side, the report says that while Europe’s options to import more natural gas are limited, there are a handful of countries with spare export capacity that could increase exports by capturing gas that is currently being flared. The report also details opportunities to scale up the production of low-emission biogases.

Together, these measures offer a pathway to avoiding price spikes, factory closures, increased use of coal for power generation and fierce international competition for LNG cargoes – in ways that are consistent with the EU’s climate goals.

 

[Someone]

USD har duppet under 10 NOK nå

Holder seg under 10, og er 9,87 i dag. Samtidig er oljen på over $80 igjen

 

[Someone]

Oljeprisen duppet under $80 nå, dog drar ennå ikke flyselskapene noe nytte av billig olje. Utfordinger med raffinerikapasitet for jetfuel har for det presset prisen på drivstoff opp, på tross av billigere olje


Norske selskaper lider også under en svak krone, samtidig som andre europeiske selskap har en fordel nå vet at euroen har styrket seg

 

[Someone]

USD/NOK tipper såvidt under 10 i dag, for førstegang på en god stund

 

[Someone]

Over $90 fatet for første gang siden november i fjor

 

[joandreas]

nesten 95 i skrivende stund.

 

[Someone]

Oljepris under $70 og en dollar som er ned 5% siden toppen i januar, gjør at kostnadsnivået for våre hjemlige flyselskap ser litt bedre ut nå

 

[Someone]

Oljepris under $70 og en dollar som er ned 5% siden toppen i januar, gjør at kostnadsnivået for våre hjemlige flyselskap ser litt bedre ut nå

Faller videre til 10.33 nå, så driver man et selskap i Europa uten å være vinklet mot transatlantisk trafikk og ikke er for mye valutahedget så kan det bli riktig så hyggelig på kort sikt

 

[LN-MOW]

Faller videre til 10.33 nå, så driver man et selskap i Europa uten å være vinklet mot transatlantisk trafikk og ikke er for mye valutahedget så kan det bli riktig så hyggelig på kort sikt

Så lenge noen har råd til å kjøpe flybilletter ..

 

[Someone]

Så lenge noen har råd til å kjøpe flybilletter ..

På kort sikt, og i sommer, så tror jeg ikke man trenger å være så pessimistisk her innen Europa.

 

[Someone]

NOKUSD på 10.19 og en oljepris på $63 nå, bidrar til billigere drivstoff, fly og leasingkostnader for de selskapen eher hjemme som ikke har hedget for mye....

 

[Someone]

NOKUSD under 10kr i dag, første gang på 2 år.