F.N.L.L Oil & Gas Service Supplier

?? From the top deck of the #WestPolaris, Erick Willians captured the brilliance of life offshore, where the sea and sky set the stage for everything we do. ?? What’s your favorite view from offshore? Share your moments below using #Seadrill! #SettingTheStandard #Seadrill #oilandgas #oilandgasindustry #OneSeadrill

On the day we release our annual Sustainability Report, we highlight how we are driving sustainability not only within the business, but also within our communities.?? Over 40 employees from South America installed a 5kW off-grid photovoltaic system at Escuela Técnica Agraria, CEPT N°4 in Mercedes, Argentina. This system will power essential functions like lighting, refrigeration, and Wi-Fi, ensuring the school operates smoothly despite frequent power outages.

At our Clean Energy Center near Berlin, the name says it all: this is where we continually develop our gas turbines. Together with SSE Thermal we have now launched a new R&D project to make our largest and most powerful gas turbine capable to run on up to 100 percent hydrogen.

China, the world’s leading oil consumer, has officially reached its peak oil consumption. According to the CNPC’s Economics & Technology Research Institute, the nation's refined oil usage peaked in 2023 at 399 million metric tons (approximately 8 million barrels per day) and is projected to decline by 1.3% in 2024. This development is significant for an economy that has been a major driver of global oil demand for many years. Several factors contribute to this shift, particularly the rise of electric vehicles (EVs) on Chinese roads. By 2035, it is anticipated that half of the country’s car fleet will be composed of EVs, leading some experts to predict a substantial reduction in gasoline and diesel demand—potentially by as much as 50% from 2023 levels, if CNPC’s forecasts hold true. In contrast, jet fuel demand is expected to grow by 70%, driven by a booming aviation sector. What does this mean for crude oil imports? They are also expected to decline, with projections indicating that China’s crude oil imports will fall to 544 million tons in 2024, raising questions about the country’s role as the global oil market’s growth engine. Despite this decrease in demand growth, China still represents a significant quarter of global crude imports. Looking ahead, CNPC forecasts a 25-40% reduction in overall refined product consumption by 2035. However, not all is negative for the oil industry; demand for petrochemical feedstocks, such as naphtha and LPG, is predicted to increase by 55%, driven by the growth of China’s plastics and chemical sectors. This marks a significant evolution, signaling to crude oil producers the need for adaptation and innovation. #everyone #oilandgas #oilnews

Hungary and Bulgaria are facing a challenging situation. With U.S. sanctions affecting Gazprombank—the primary intermediary for Russian gas payments—both countries are trying to find a way to maintain gas supplies without violating the regulations. Hungarian Foreign Minister Peter Szijjarto asserts that they have found a “legal-financial solution.” In contrast, Bulgaria is being more discreet, merely stating that they have explored an “option” that could be beneficial for all parties involved. For Hungary, Russian gas is essential, and they are reluctant to sever ties, even as Europe seeks to reduce its dependence on Moscow. Recently, Prime Minister Viktor Orban met with Vladimir Putin to discuss strategies to ensure Hungary remains warm this winter. #everyone #oilandgas #oilnews #report