Automation growing in upstream oil and gas industry

Technologies over the next 20 years such as robotic process automation, artificial intelligence, natural language processing and machine learning could gradually reduce oil and gas workforce jobs by up to 30 per cent

Automation growing in upstream oil and gas industryA new report says the COVID-19 pandemic and low commodity prices will accelerate job automation in the upstream oil and gas industry and automation could gradually replace 50 per cent of job competencies by 2040. The report by EY, Preparing for the future now: Rethinking the oil and gas workforce in 2040, said technologies over…

Oil industry facing (c)rude awakening

The game is up: Oil and gas companies can no longer mask their financial frailty

Oil industry facing (c)rude awakeningThe decline in oil demand accelerated by Covid-19 may be a sign of the future. Forty publicly-traded U.S. oil producers wrote down a collective $48 billion worth of the value of their assets in the first quarter of 2020, the U.S. Energy Information Administration reported. Quoting Deloitte, Oilprice.com points out that the collapse in crude…

Reducing emissions would save money for oil sands producers: study

Researchers looked at 15 strategies that would decrease sector’s energy use intensity and found increased profits from all

Reducing emissions would save money for oil sands producers: studyInvestment in new energy-efficient, greenhouse gas mitigation strategies by oil sands producers could net them some important profits, according to a model developed by a research group at the University of Alberta. Engineering professor Amit Kumar and his team investigated 15 strategies covering all areas of the oil sands sector – in situ extraction, upgrading and…

Husky Energy Q2 net loss reaches $304 million

The company had net earnings of $370 million in the second quarter of 2019

Husky Energy Q2 net loss reaches $304 millionHusky Energy reported Thursday it had a net loss of $304 million in the second quarter of this year compared to net earnings of $370 million in the second quarter of 2019. In a news release, the company recorded funds from operations of $18 million in the second quarter. Cash flow from operating activities, which…
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