Global crude qualities have shifted significantly in recent years. Global demand has shifted towards heavier crude while the makeup of global supply has shifted lighter. This global shift in crude quality supply is already impacting end markets. We are observing a near-term supply glut in...
On Sunday night Rachel Notley announced a mandated production cut in Alberta, for crude oil and bitumen, of 325,000 bbls/d (representing ~8.7% of production). This short-term course of action was also supported by Jason Kenney and the UCP. At Validere, we always appreciate people tackling...
The rapid adoption of the Chinese crude contract represents a significant change in global crude markets. Already representing 16% of global market share, the contract has pulled liquidity from Brent and WTI contracts and may have been a factor in the recent volatility in those...
Artificial Intelligence has been making waves in industry for years. However, there’s much that the average person still doesn’t know about it. In this article, we’ll review what artificial intelligence really is, and five things you should know about how it works in industry. (7 minute...
This post will illustrate how to make a rough estimate of the dollar impact data entry errors have on common crude testing measurements. It is part of our series on estimating human errors in crude quality and measurement. It can be easy for an oil...
More than just a buzzword, the Internet of Things is the future of oil testing. (4 minute read) Machine learning, artificial intelligence, internet of things – these concepts have been floating around for the past few years, promising to revolutionize every industry. Tech junkies and investors alike...
This post is the first in our series on estimating human errors in crude quality and measurement. It can be easy for an oil company to invest too little in reducing human errors not because they are not important, but because they are hard to...
The short answer is: a lot. This explains why oil companies everywhere in the supply chain spend so much on quality and measurement, from sophisticated on-line analyzers and automatic samplers at most custody transfer points, to large annual third-party-lab budgets. It can be easy to start...
The centrifuge test to determine the sediment and water (S&W) content in crude oil is one of the most frequently run tests in the oil and gas industry. S&W measurements are done every time a shipment of oil changes hands so that the buyer only...