Just as it is intrinsically impossible to square a circle, so goes the difficulty in truly describing all the ins and outs of the important daily happenings all around the world of oil and gas. But that’s why TK and DK are here. We are the beacons of light, the pillars of hope, the (insert a cool and poetic “somethings of somethings” here). Above all, we’re the guys who keep you up to speed in what’s shaping up to be one of the most interesting and exciting times in the history of oil and gas. So, as someone once said to a one-legged man eying the finish line… let’s hop to it!
Gas Imaging Makes Giant Leap With A Single Pixel
Researchers at the University of Glasgow’s School of Physics and Astronomy, say that they’re close to perfecting a new technology that could give the oil and gas industry a much cheaper way to visualize methane gas.
You’re probably wondering, “What’s this way?” Hold your horses, or in this case, hang on to your “pixels”. Visualizing methane gas will be achieved by using a technique called single-pixel imaging, which will create real-time video images of methane gas in common atmospheric settings.
This is big news, although some of the thunder is taken out of it for me, as I was not a fan of the movie “Pixels”, and thought the trailer for “Pixels” was one of the worst I saw in the last 5 years. Do I realize the movie has nothing to do with visualizing methane gas? Deep down I do, but I’m working on being more of a “surface” type of guy at the moment, so I’m not looking deep into my issue with this.
According to Daily News & Analysis, “Single-pixel imaging uses just one light-sensitive pixel to build digital images instead of using conventional multi-pixel sensor arrays, which can be prohibitively expensive for infrared imaging.”
If I understood even 6% of that, I’m sure I would appreciate how big this potential is. Until then, I’ll let the smart guys in the room marvel at it.
New Scottish Government Decommissioning Fund Is Encouraging For Oil & Gas In UK
Are we sensing a theme here? TK… DK… The UK. That’s how we do it here at “The Nightly”. We keep you on your toes, while putting you on your heels. We also make sure to use sentences that sound meaningful, but upon further examination, don’t make much sense at all. #StandWithConfusion… anyway – back to the latest.
Struggling Scottish oil and gas companies hope to benefit from ‘The First Minister’s’ plan to release around $5 million in funding, available in March, which will support companies hoping to cash in on the decommissioning of sectors within the industry.
Deirdre Michie, chief executive, Oil & Gas UK said:
“Our forecasts suggest an average of £1.7 billion will be spent on decommissioning in the UK each year over the next ten years and so it is helpful that we should support the UK supply chain to develop its capacity to compete effectively.”
Here’s to making it AOK, in the UK!
Oil Ministers Say – OPEC Production Cut Might Need To Be Extended
Yeah, the whole TK/DK/UK/OK was wearing thin anyway, right? Right. Let’s catch up with OPEC… where talk is cheap, where joy is real, where life makes sense.
Only a day after the American Petroleum Institute revealed the second-largest crude oil inventory increase in history (over 14 million barrels), the oil ministers of Iran and Qatar started chatter that OPEC’s production cut agreement reached in November may have to be extended beyond the original June deadline.
Be careful everyone… don’t poke the bear in the zoo. To be clear, in this instance, OPEC is the bear and not the “zoo”, no matter how wild/animalistic things seem.
The oil ministers of Iran and Qatar have suggested that OPEC’s production cut agreement may have to extend beyond the original June deadline, despite an almost 100 percent compliance rate. The fear is that current cuts in place won’t be enough to rebalance the market in a way that achieves a price per barrel everyone is happy with. (over $50).
According to oilprice.com:
“The latest update from OPEC on how the production cut was progressing pegged daily production for January at 32.89 million barrels, versus a target of 32.5 million barrels. This represented a compliance rate of 91 percent and suggested that nearly everyone is on board with the market rebalancing effort.”
This week on “Not Enough!” Sorry OPEC, nobody wins forever.
There you have it. Another “Nightly” is in the books and hopefully on your mind until TK picks it back with The Morning Surge. #TKCallBack. So until the sun goes down, and while the new Secretary of Education brushes up… Night night.