“The media and the public often mistakenly see Silicon Valley as the sole developer and purveyor of game-changing technologies. But as recent years have proven, the energy sector is a hi-tech pioneer, constantly inventing, testing and improving technologies and techniques around the world,” says Rex Tillerson, chief executive of ExxonMobil, the world’s largest international oil and gas company.
Venezuela´s presidential jet is fuelling up for President Nicolas Maduro´s next tour of Opec and non-Opec countries. The itinerary is still under wraps, but if the past is any guide, the jet will touch down in Moscow. That could happen right around the time national oil company PdV defaults on its debt.
“We are climbing that learning curve. It is still early in the tight oil reservoirs. Our expertise today is about where we were several decades ago with conventional reservoirs,” says ConocoPhillips chief executive Ryan Lance, referring to unconventional, US tight oil extracted from shale formations – or shale oil.
Russian energy minister Alexander Novak and Total chief executive Patrick Pouyanne were chatting and smiling before and after a high-profile session at the World Energy Congress in Istanbul last night.
And it is not surprising, as Total is one of the largest international investors in Russia’s oil and gas industry, including at the 16.5mn t/yr Yamal LNG project in the Arctic.