Media missives from Emerson Exchange 2025

With Emerson Exchange 2025 - the thought leadership event of global engineering services, industrial automation and technology giant Emerson - drawing to a close on May 22, the Oilholic enjoyed a fascinating and engaging week out in San Antonio, Texas, US. 

An action-packed week included insightful 1-on-1 discussions, panel chats, a product launch and wider interactions on the global energy and industry mix, and, where it is heading to with the "plant or factory of the future." 

All of The Oilholic's blog entries for Emerson Exchange may be found here. Yours truly also provided insight and an exclusive interview to Forbes from the event as detailed below. 

• Emerson To Seamlessly Integrate Its Industrial Automation Tech Stack, May 20, 2025
• $40 Billion Of Asset Deals In 4 Years, Room For More, Says Emerson COO, May 22, 2025

That's all for the moment folks. More musings to follow soon. Keep reading, keep it here, keep it 'crude'! 

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To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo: Emerson Exchange 2025 held at the Henry B. Gonzalez Convention Center, San Antonio, Texas, US. © Gaurav Sharma, May 2025. 

On AI and more at Emerson Exchange 2025

As the week progressed, Emerson Exchange 2025 came into its element sparking discussions under the event's core them of accelerating innovation. 

Over 300 presentations, client engagements and panels took place covering AI, automation, IIoT, predictive analytics, smart industrial equipment and more. 

The industrial sectors covered included traditional energy, renewables, power and utilities, chemicals, mining, pharmaceuticals, automotive, and food and beverage, but to name a few. 

Speaking of AI, the Oilholic moderated a TechTalk session titled - Industrial AI: Driving Smarter, Safer, and More Sustainable Operations. Subject matter experts on the panel included: Heiko Claussen, Chief Technologist, Emerson, Nate Harris, Global AI Sales Lead, Data & AI, Microsoft, Lynn Comp, Global Head of Sales for the AI Center of Excellence, Intel, and Clint Schneider, VP of Technology at Emerson's Final Control Business.

The panel touched on how AI is rapidly reshaping industrial operations, enabling predictive insights, process optimization and greater sustainability. At the heart of the discussions was AI deployment across the global industrial and manufacturing complex to enhance decision-making, improve efficiency and address complex operational challenges.

Cybersecurity and a re-skilling of the workforce - key facets of the ongoing industrial
transformation - also came under scrutiny, with a discussion on the workforce of the future and zero trust security architecture. 

Whichever way you look at it dear readers, in the quest for improved throughput and a lower carbon footprint (which are joined at the hip in the Oilholic's opinion) - an embedding of AI with safeguards into process systems, turning information and data into actionable insights, and a shift toward optimized autonomous operations are all but inevitable. 

Emerson is eyeing massive opportunities in this sphere and has been repositioning its business via acquisitions, divestments and bolt-on transactions worth $40bn in just the past four years alone. Here's this blogger's exclusive interview on the subject for Forbes with the company's Chief Operating Officer Ram Krishnan. 

The logic slots in particularly well in the case of the global oil and gas industry that's constantly learning to do more with less, at a time of cyclical volatility and lower oil prices.

And if you happened to tour the technology exhibits at Emerson Exchange, various solutions being showcased pointed to exactly that. 

Elsewhere, yours truly also hosted leadership conversations for Emerson on the sidelines of the event. Over a dozen members of the company's divisional and corporate leadership team kindly took part in the conversations to share their invaluable industry insight. 

As a teaser they included, Emerson COO Ram Krishnan, CSO Mike Train, CTO Peter Zornio, CMO Vidya Ramnath, and Emerson's AspenTech business CTO Claudio Fayad among others. The recordings will be published in due course by the Emerson team, and the Oilholic will alert you when they are online. So, watch this space. 

Well, that's a wrap from Emerson Exchange 2025 until next time. Its been a memorable, insightful and exciting week here in San Antonio. More musings to follow soon. Keep reading, keep it here, keep it 'crude'! 

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To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo I: AI TechTalk at Emerson Exchange 2025. © Denise Clarke, May 2025. Photo II: Behind the scenes at the recording of Leadership Conversations with Emerson at Emerson Exchange 2025 hosted by Gaurav Sharma © Scott Leech / Brandspeak Communications, May 2025. 

Boundless automation at Emerson Exchange 2025

While the doors of Emerson Exchange 2025 opened on Monday, formal proceedings got underway on Tuesday morning with a keynote from Emerson CEO Lal Karsanbhai.

The global industrial technology and software vendor's boss said his industry is facing dynamic markets in an evolving industrial landscape. 

"Emerson is moving in the right direction with purpose, conviction and agility in automation, shaping what's next for global industries," he noted.

Flagging $40 billion worth of transactions from Emerson over the last four years, Karsanbhai said the company was also displaying remarkable agility from within via "boundless automation", and an ever improving offer of software premised integrated solutions that both the markets and his company's customers have come to expect of it. 

The Emerson CEO also lauded his company's acquisition of industrial software leader AspenTech for $7.2 billion because it supported "a software driven approach to shape the future direction of travel for Emerson."

To that end, Karsanbhai also delivered a teaser of 'Project Beyond' - Emerson's new product suite that seamlessly integrates its entire industrial automation technology stack. 

Following the keynotes came the formal launch of Project Beyond, hosted by yours truly alongside Peter Zornio, CTO of Emerson, Claudio Fayad, CTO of AspenTech, Nina Schwalb, Head of AspenTech DataWorks inmation, and Dave Denison, Vice President of Software Applications at Emerson Automation Solutions. 

The quartet described how Project Beyond brings industrial AI together with contextualized data across a diverse set of automation environments – embedded, edge and cloud – to "unlock flexibility, safety, sustainability and performance" to facilitate "boundless automation." 

For more details on the actual launch itself, here's this blogger's report for Forbes. At the launch, a statement by COO Ram Krishnan noted that Emerson was looking for an increased take-up of its integrated product offer from energy, power and utilities, chemicals, mining and pharmaceuticals. 

“Companies are eager to modernize automation and keep pace with the promise of new technologies like AI without ripping and replacing their existing infrastructure or dealing with the pain and costs of integrating new applications and millions of fragmented data points,” Krishnan added.

“Project Beyond will use the power of software-defined control to introduce an entirely new, scalable, seamlessly integrated infrastructure with automated data contextualization to turn trapped data into powerful operational efficiencies.”

Following the product launch, and the commencement of the conference program, the event's technology exhibition also opened its doors to visitors showcasing Emerson's hardware and software solutions based on the six "building blocks" of Project Beyond. 

They include - computing power, networking and connectivity, data operations, app marketplace, AI orchestration and a zero-trust security architecture for industries. Overall, an exciting day's outing with plenty more to follow soon. 

On that note, its time to say goodbye for now. Keep reading, keep it here, keep it 'crude'! 

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To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo I: Lal Karsanbhai, CEO of Emerson delivers his keynote at Emerson Exchange 2025. © Gaurav Sharma, May 2025. Photo II: Launch of Emerson's 'Project Beyond' on May 20, 2025. © Keith Larson / Endeavor Business Media. Photo III: Glimpses of the technology exhibition at Emerson Exchange 2025 © Gaurav Sharma, May 2025. 

Getting started at Emerson Exchange 2025

The Oilholic has arrived in San Antonio, Texas, US for the week-long Emerson Exchange 2025. It is the thought leadership event of engineering services, industrial automation and software giant Emerson. 

The event - being held at the city's Henry B. Gonzalez Convention Center - is expected to draw in nearly 4,000 attendees from over 50 countries, representing 300-plus companies integral to the global industrial and manufacturing complex. 

The theme for this year's event is Accelerating Innovation. Over the course of the week, attendees can expect around 300 presentations as part of a varied content program. 

Yours truly will also take part in the program, including a panel on industrial AI on Wednesday, details of which will follow soon. While this blogger's interest is in the energy segment, over a dozen industries would be represented here from pharmaceuticals to food and beverage. 

Emerson Exchange 2025 will also hold an exhibition spread over a 130,000 square foot exhibition hall with nearly 100 exhibitors showcasing over 500 industrial solutions. Expect a few product launches too. Looking forward to an exciting action packed week out in Texas. 

More soon as the week progresses! Keep reading, keep it here, keep it 'crude'! 

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To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo: Gaurav Sharma at Emerson Exchange 2025 © Gaurav Sharma, May 2025. 

Meeting French billionaire entrepreneur Mohed Altrad

Mohed Altrad (left), French entrepreneur and founder of multinational services and equipment firm Altrad Group, with Gaurav Sharma, Energy Analyst, Oilholics Synonymous, at Altrad Sparrows training centre in Tyrebagger, Scotland, UK. 

Earlier this month, the Oilholic headed some 550 miles north from London to Tyrebagger Hill, on the outskirts of the UK's energy capital Aberdeen, for a very special meeting with an extraordinary entrepreneur - none other than Scaffolding King Mohed Altrad. 

Yours truly's meeting with one of France's most famous and fascinating industry captains had the backdrop of a Liebherr BOS 2600 offshore pedestal crane capable of lifting 15,000 kg loads, at the Altrad Sparrows training centre. It happens to be one of the entrepreneur's many businesses, and one he acquired as recently as 2022. 

The serial entrepreneur happens to be aggressively expanding Altrad Group's already substantial presence in energy services across the sector's value chains and commissioned projects, from refineries to offshore wind farms, from marine to LNG. 

Read the Oilholic's latest Forbes exclusive for more on his business, its beginnings, and Altrad's inspiring journey here. 

His company's headline business is split 84% to 16% between services and equipment segments. 

In 2024, the business generated nearly €6 billion (£5.03 billion, $6.52 billion) in revenue. 

Interestingly, almost €1 billion of that was derived from services to the clean energy segments of nuclear, hydrogen and wind, Altrad said. 

The figure may well be taken as Altrad's statement of intent when it comes to supporting a sustainable future, and is expected to rise subject to business conditions, according to the man himself. 

While Altrad Group businesses are also branching out into consulting in their respective areas of expertise, there is very little appetite - as far as the boss is concerned - for branching out into core engineering aspects of energy projects. 

An expansion in the energy services though looks almost certain to continue, both through acquisitions and organically, Altrad told the Oilholic. That's asvthe segment undergoes consolidation in a fiercely competitive operating climate. Overall, a most remarkable encounter. 

That's all for now folks. More musings to follow soon. Keep reading, keep it here, keep it 'crude'! 

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To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo I: Energy analyst Gaurav Sharma (right) with Mohed Altrad at Altrad Sparrows, in Aberdeen, Scotland, UK © TVP Studios / Altrad Sparrows, March 2025. Photo II: Gaurav Sharma (right) and Mohed Altrad in a conversation in Aberdeen, Scotland, UK © Benjamin Romney, March 2025.

Media missives from CERAWeek 2025

With CERAWeek 2025 by S&P Global drawing to a close on March 14, the Oilholic capped a fascinating and engaging week out in Houston by having insightful 1-on-1 discussions, panel chats and wider interactions on the global energy mix and where it is heading to. 

All blog entries for CERAWeek may be found here. Yours truly also provided insight to Energy Connects and Forbes throughout the event as detailed below. 

First off, here are one's daily observations for Energy Connects on the first three days of the event:

• US Energy Secretary and oil industry leaders call for a realistic approach to the energy transition, March 11, 2025.
• Energy leaders call the US a prime investment market, March 12, 2025.
• Leading cross-sector executives pledge to triple global nuclear capacity by 2030, March 13, 2025.

And secondly, here go all observations, interactions and interviews from CERAWeek for Forbes:

• U.S. Energy Secretary Blasts Renewables, Vows To Support Oil And Gas, March 10, 2025.
• Guyana’s Buoyant Oil Exports Find Eager Buyers In Europe, March 12, 2025.
• Activist Investor Drives BP To Do ‘Fewer Things, With Higher Returns’, March 12, 2025.
• Practical Decarbonization Solutions Must Be Nurtured, Says MHI Group’s Green Solutions CEO, March 13, 2025.

And that's all for the moment folks. More musings to follow soon. Keep reading, keep it here, keep it 'crude'! 

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To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2025. Photo: Gaurav Sharma at CERAWeek 2025 © Gaurav Sharma 2025. 

CERAWeek Days IV & V: Going nuclear & rounding up

The home stretch of CERAWeek did not disappoint. But before Days IV and V got underway, the conclusion of Wednesday (Day III) brought perhaps the biggest talking point of the event.

That's after the World Nuclear Association, anchored a huge group of cross-sector executives to commit to expanding nuclear energy.  

How huge you ask dear readers? Well it counts Google, Amazon, Meta, Occidental and Dow, 14 major global banks and financial institutions including Goldman Sachs, Morgan Stanley and Bank of America, and 140 nuclear industry companies among its ranks. Over 30 countries have also pledged their support.  

The target - a tripling of global nuclear power capacity by 2030, which is currently less than 10% of the energy mix. Here's the Oilholic's full in-depth report for Energy Connects on the development. 

One thing the announcement did immediately do is puncture the fawning over natural gas being the fuel to meet the world's power demands that we'd heard for almost three days of the event. More so, as several tech giants - whose burgeoning hypersonic datacentres natural gas is supposed to power - backed the nuclear announcement.

Away from it all, yours truly took time to meet Dr Hitoshi Kaguchi, Senior EVP, President and CEO of GX solutions, Mitsubishi Heavy Industries Group. 

Dr Kaguchi's team is busy conjuring up his company's green solutions along their two preferred silos - carbon capture and hydrogen. It was a fascinating conversation, full length of which may be found here on Forbes. 

And there were dialogues a plenty, although some of the conversation was a bit tamer with many of the heavy hitters - sorry to say so - having already come and gone. 

Nonetheless, the bosses of National Grid, Emirates Nuclear Energy Corporation, NRG Energy, Edison International and AES Corporation took the dialogue forward on utilities on Days IV and V and how to secure power in our complex world. 

'Crude' conversations were kept alive by a panel on Energy in Latin America with the bosses of Ecopetrol, Tecpetrol, and others partaking in discussions on some of the regional energy transition complexities, and bearing in mind that the global South needs to be included in all discussions. 

And finally, Alaska Governor Mike Dunleavy, who has been at CERAWeek all week, addressed the final day's leadership dialogue on "Alaska and the world." And that's a wrap for CERAWeek 2025. Keep reading, keep it here, keep it 'crude'! 

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© Gaurav Sharma 2025. Photo: Gaurav Sharma, Energy Analyst at Oilholics Synonymous (left) with Hitoshi Kaguchi, Senior EVP, President and CEO of GX solutions, Mitsubishi Heavy Industries Group © Gaurav Sharma 2025.

Checking out Vaeridion's electric 'microliner' concept

(Left to right: Ivor van Dartel, Founder and CEO of Vaeridion, Markus Kochs-Kämper, CTO of Vaeridion, and Gaurav Sharma, Energy Analyst, Oilholics Synonymous, at the startup's laboratory and engineering site in the Bosch Innovation Campus in Holzkirchen, Germany)

Late last month, the Oilholic headed out to the Bosch Innovation Campus in Holzkirchen, Germany, some 25 miles south of Munich, for a visit to green aviation startup Vaeridion's laboratory and engineering test site of its 'microliner' electric plane concept. 

The company is aiming to make to carbon-neutral electric powered flights the norm for short-haul travel; a niche but lucrative regional market currently serviced in many parts of the world by an ageing conventional fleet of aircraft.

Vaeridion's bold idea is a nine-seater electric plane with a range of 400km, deemed more than sufficient for short hops in a number of regional markets in Europe and beyond. Although the startup's founder and CEO Ivor van Dartel told yours truly his initial focus would be on Northern Europe (BeNeLux, the Nordics and Germany).

And what is it that van Dartel and the good folks at Vaeridion are attempting to put in the air dear readers? The Oilholic would say its brilliant, yet simple and here's how it goes. The electric power train would be supported by rechargeable high voltage batteries integrated in the plane's wing. 

The plane itself will run on a single propeller, but with multi-engine support of two mechanically and electrically segregated motors. 

The microliner will have a dual flight deck and can be operated by a single pilot. And unlike some in the sphere, Vaeridion's solution would be 100% electric. (See right, click to enlarge concept illustration.)

The idea has solid wings - no pun intended. Here's the Oilholic's recent feature on the startup for Forbes, wherein van Dartel has discussed his business plans for taking Vaeridion's microliner to market.

In a nutshell, test flights of the prototype are scheduled for 2027, and first delivery of the aircraft by 2030, with an ambition to produce and move up to 250 planes per year by / before the middle of the next decade.

To support this ambition, Vaeridion's has raised €14 million (£11.75 million, $15.20 million) in a recent funding round involving multiple prominent venture capital funds. They include World Fund and Vsquared Ventures, whose founding partner the Oilholic had the pleasure of meeting in Munich, and was revealed to be the startup's very first backer. 

The investors appear to be in it for the whole journey and Vaeridion is in talks to secure further capital. Especially, as van Dartel and his team are working on a green air mobility solution that will likely be among us by the end of the decade to fulfil a very specific potentially money making niche.

And when the Vaeridion microliner finally takes off, it would be the culmination of a long-held professional ambition of van Dartel's, who is a former Airbus engineer. "Electric air mobility has been on my mind since 2007, when sustainability wasn't even mainstream as it is today. The concept remained close to my heart and the spark stayed with me throughout my professional journey at Airbus."

In over a decade of service at the global aircraft manufacturer, van Dartel worked on Airbus' A380, A350 models, operations, manufacturing, special projects and ultimately became a generalist in 2017, before moving on to its defence and aerospace division in 2019.

Ultimately, he left Airbus in 2021 with the flame rekindled, armed with over 10 years of experience in complex projects, to launch Vaeridion. Today his 50-strong, and rapidly growing, team boasts of fellow dreamers from nearly 20 nationalities, some of whom joined his startup when it had no money or secured funding. 

Vaeridion appears to be on the cusp of making a difference, and attempting something that won't be easy by any means in an evolving, tough landscape of carbon-neutral air travel solutions. It remains to be seen how it will go for this aviation startup, but the Oilholic wishes Team Vaeridion well. 

With those final thoughts, its time to take your leave. More musings to follow soon - next stop Houston, for CERAWeek. Keep reading, keep it here, keep it 'crude'! 

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© Gaurav Sharma 2025. Photo I: (Left to right) Ivor van Dartel, Founder and CEO of Vaeridion, Markus Kochs-Kämper, CTO of Vaeridion, and Gaurav Sharma, Energy Analyst, Oilholics Synonymous, at the startup's laboratory and engineering site in the Bosch Innovation Campus in Holzkirchen, Germany. © Gaurav Sharma, February 2025. Photo II: Vaeridion's microliner electric aircraft concept. © Vaeridion, December 2024. 

ADIPEC Days I & II: All about 'Energy^AI'

The first two days of ADIPEC 2024 in Abu Dhabi have whizzed by with one theme dominating proceedings - the deployment of AI as a service. 

In whichever direction you look around the venue - ADNEC Centre - you can't miss signage flagging it. 

At the opening ceremony on Monday, ADNOC's CEO and the UAE's Minister of Industry and Advanced Technology Sultan Ahmed Al Jaber said the state-operated energy company will deploy autonomous AI for the very first time and called on his peers to embrace it too for the benefit of the wider energy industry.

ADNOC's move - dubbed Energy^AI or 'energy to the power of AI' will be in partnership with government-backed G42, AiQ and Microsoft. Here's The Oilholic's full report for Forbes on Al Jaber's remarks and ADNOC's wider plans. ADIPEC itself has allocated 40,000 square feet of exhibition space showcasing AI, quantum computing and the latest in robotics. 

Technology driven energy transition efforts were variously revisited throughout the day, just as many big oil CEOs including BP's Murray Auchincloss and Shell's Wael Sawn highlighted market and geopolitical complexities they are operationally anxious about as well as a return to the basics of traditional oil and gas exploration and production to firm up their bottomline. 

Monday also saw several ministers speak at ADIPEC including the UAE's energy Suhail Al Mazroui and India's minister for petroleum and natural gas Hardeep Singh Puri, as did OPEC Secretary General Haitham Al Ghais, fresh from the crude producers' group's decision to postpone its planned production increase by a month. Most were united in their belief that oil and gas will continue to play a role as part of a wider energy mix for decades. 

The 2024 round of ADIPEC features conference several streams new and old including - its Strategic Conference, Hydrogen Conference, Downstream Technical Conference, Decarbonisation Conference, Maritime &  Logistics Conference, Digitalisation & Technology Conference, Technical Conference, Finance & Investment Conference and Voices of Tomorrow. 

Yours truly kick-off his ADIPEC 2024 journey by hosting a panel titled: 'Climate finance: The role that of the energy and finance sectors' with panellists Lina Osman, Managing Director & Head, Sustainable Finance - Africa and MENAP at Standard Chartered, Bruce Johnson, Director, Corporate Finance and Treasury at Masdar, and Debnath Mukhopadhyay, CFO of TruAlt Bioenergy.

In a riveting session, we all discussed how the energy transition represents a trillion-dollar investment opportunity for investors and how the energy and finance sectors can work more closely together to accelerate the flow of investments in clean energy projects to match investor risk return expectations.

The Oilholic also took time out for a BBC Business Today interview with Sally Bundock to discuss the goings-on at ADIPEC, OPEC's decision to postpone its production cuts, state of the oil market and climate finance. 

We discussed current oil market permutations, impact of the US election, how a possible protectionist White House may impact crude demand in 2025 and why climate finance and investing in energy AI / technology is a major part of the discourse at this year's ADIPEC, and as a potentially politically charged COP29 approaches. 

Tuesday, Day II, brought more discussions on sector innovation to the fore, and a renewed emphasis on why the shift to low-carbon energy was imperative in a gradual march to net zero, and the critical role governments of the world can play in facilitating this. 

Of course, the event saw divergent views on whether this should be achieved via taxation, subsidies or be left to the free markets. Or perhaps a combination of all three. Technology occupied centrestage here too, with several industry participants outlining the various ways in which AI, advanced analytics, quantum computing and IIoT can make a difference in helping the energy sector as well as the wider global industrial complex discover a low - to - ultimately zero carbon future. 

For his part, the Oilholic hosted his second panel of ADIPEC 2024 titled 'Standardised sustainability reporting: building energy transition trust to boost investment' first thing on Day II with panellists Karim Arslan, Executive Director, Green & Sustainable Finance Originator, Green & Sustainable Hub, Natixis Corporate and Investment Banking, Semih Ozkan, Executive Director, EMEA Energy, Power, Renewables, Metals & Mining, J.P. Morgan and Don Dimitrievich, Senior Managing Director and Portfolio Manager for Energy Infrastructure Credit, Nuveen.

We discussed the critical subject of how standardised sustainability reporting could provide the key to boosting investment into the energy transition through higher levels of investor insight and confidence. And here's to more insightful dialogues over the days to follow. That's all for now folks. There's plenty more to come from ADIPEC 2024. So keep reading, keep it here, keep it 'crude'! 

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© Gaurav Sharma 2024. Photo I: Energy AI signage at ADNEC, Abu Dhabi - the venue of ADIPEC 2024. Photo II: AI display at ADNOC exhibition booth at ADIPEC 2024. Photo III: Gaurav Sharma host a panel on climate finance at ADIPEC 2024 on 04.11.24. (Courtesy: dmgevents) Photo IV: Gaurav Sharma on BBC World Business Today on 04.11.24 at 9:50 GST. (Courtesy: BBC) 

OEG Energy site visit & a 'crude' chat with its boss

Last week The Oilholic headed to sunny Scotland for a very interesting visit to one of OEG Energy's industrial sites in Aberdeen, with none other than its Chief Executive John Heiton. 

The scene of the walkabout was the global mission critical offshore logistics group's state-of-the-art Cairnrobin chemical plant.

This impressive six acre site, just south of Aberdeen's city centre, serves as OEG's storage, servicing and processing hub for a wide range of chemicals and aviation fuel on behalf of a veritable-who's-who of the energy business. It was fascinating to observe the place, its personnel, their processes and top-notch North Sea standard protocols on safe and secure handling of their operational tanks. 

The site visit was followed by a long overdue conversation with Heiton about how he is reshaping OEG along two offshore business silos under one group umbrella - traditional offshore energy and renewables. As it appears, after three years of painstaking work and over a dozen acquisitions, in 2023 the company managed the milestone of a near 50%/50% split in revenue between its traditional and renewables units. 

Heiton described it as the inexorable direction of travel for OEG, with double-digit growth expected for OEG's renewables business over the near-term, and solid single-digit growth for traditional energy boosted by operations in emerging oil and gas extraction hubs like Guyana and Suriname, and established ones in Africa and the Middle East. 

The OEG boss - who's company has its footprints in over 60 global locations - also said he'd encountered the same hike in shipping rates between Asia and Europe via the Red Sea as the readers of this blog (and The Oilholic's sources in Singapore) report, i.e. an uptick of 300% to 350% since November! 

That's when attacks by Yemen's Iran-backed Houthi rebels began on international energy and commercial shipping in the key maritime artery. 

"However, shipping rates from Australia to China have also gone up and there are no security issues there! So while some of the cost hike (since November) is related to the troubles in the Red Sea, shipping lines may also be using it as an excuse," Heiton said. 

On the subject of oil demand growth in 2024, OEG is going with the International Energy Agency's conservative forecast of 1.1 million barrels per day (bpd). "Part of it has to do with operational prudence in going for the lower end of global oil demand growth forecasts, rather than much higher forecasts out there. 

"However, where demand growth goes this year does not materially impact us as a business because a lot of global spare capacity is onshore based. Volume produced by the offshore fields we service doesn't make much of a difference to us as a critical logistics provider. They'd ultimately still require broadly similar levels of outsourced services we provide to the facility/platform in question."

Away from the exclusive snippets for this blog, do read The Oilholic's full interview with Heiton for Forbes here. It offers a much wider perspective on OEG's journey as a company in recent years. That's all for now folks, more blogging to follow later this week. Keep reading, keep it here, keep it 'crude'! 

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To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2024. Photo 1: John Heiton, Chief Executive of OEG Energy (left) with Gaurav Sharma. Photo 2: Specialist storage tanks at OEG Cairnrobin Chemical Plant, Aberdeen, UK, February 2024. 

Media missives from ADIPEC 2023

With ADIPEC 2023 drawing to a close last week, the Oilholic capped a fascinating and engaging week with a rounding off piece for Forbes on the criticality of scaling up technology - and, of course, backing it up with petrodollars and willpower, if a meaningful energy transition is to be achieved. To this end, this blogger had great conversations with ABB, AiQ, AspenTech, AVEVA and Avaada Group. (More here)

Yours truly also hit the airwaves to discuss the various soundbites coming out of the conference and various developments in Abu Dhabi, all in the midst of a very volatile crude oil market riddled with demand concerns, supply-side tightening and geopolitical complications. The final broadcasting call before departing was with Asharq Bloomberg News, with this blogger's week out in Abu Dhabi peppered with plenty of other missives via the keyboard for Forbes, the Motley Fool, and of course via this blog. 

All blog entries for each ADIPEC day may be found here. 

Some commentary on Shell's share price direction via the Motley Fool may be found here. And here are selected Forbes copies in chronological order based on soundbites and insight from ADIPEC 2023. 

• Emirati COP28 President Calls For A "Just, Orderly, Equitable And Responsible" Energy Transition, October 2, 2023.
• India "Will Manage" And Won't Panic If Oil Rises Above $100, Says Energy Minister, October 3, 2023.
• Abu Dhabi To Unveil World’s Fourth Largest Solar Farm "Very Soon", October 4, 2023.
• Oil Futures Slump Further On Uncertain Global Demand Outlook, October 5, 2023.
• Abu Dhabi In First Wind Farm Launch As 2GW Solar Project Nears Completion, October 8, 2023.
• 4 Middle East Geopolitical Scenarios That May Hike Oil Market Risk Premiums, October 9, 2023.
• Scaling Technology And Willpower Critical For 'Fast-Tracking' Global Energy Transition, October 10, 2023.

And that's a wrap. Keep reading, keep it here, keep it 'crude'!

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To follow The Oilholic on Rigzone click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2023. Photo: Gaurav Sharma on Asharq Bloomberg TV on October 4, 2023 © Asharq Bloomberg 2023.

ADIPEC Day II: On techies, ministers, sessions & more

Day II of ADIPEC in Abu Dhabi, UAE began on an even busier note and one group that's making quite a lot of the noise is the techies. Microsoft, Google, Amazon Web Services - you name it - are all here! Spokespersons and sales people of many are telling yours truly that "big data" is the new oil, and well ...err .... doubly so for oil, gas and energy companies clubbed together. 

Much of the chatter they are offering is about utilising cloud computing, and, of course, pitching innovations in new areas such as machine learning, artificial intelligence (AI), Internet of Things (IoT) and serverless computing for energy operations. Not to be left behind, hardware sellers are offering the energy sector custom-designed processors, chips, workstations, platforms and advanced robots.

Parking the noise from the techies aside, the day also saw yet more ministers and officials offer soundbites and rub shoulders with energy CEOs, movers and shakers. Before the final Day IV is out on October 5, around 40 odd ministers would have spoken here. Among them India's Energy Minister Hardeep Singh Puri who said on Tuesday that his country can cope with a $100 oil price should it happen but the development was likely to be "recessionary" for the rest of the world. (More here on Forbes)

Among other developments, ADIPEC delegates were also told that Abu Dhabi would soon be taking its 2GW capacity solar farm located in its Al Dhafra region online. When it does go online, the farm might well be the fourth largest in the world (More here on Forbes)

Meanwhile, Ashraf Al Ghazzawi, Executive Vice President of Strategy and Corporate Development at Aramco opined that the energy transition is far from straightforward, particularly for a nation like Saudi Arabia. 

"First, you have to appreciate the global energy system's scale and magnitude. You're talking about a global energy system of about 270 million barrels of oil equivalent. This system energises a $100 trillion global economy. If you fast forward to 2050, the global economy will double to $200 trillion with, give or take, two billion additional energy consumers coming.

"So any discussion, any plan on energy transition, will have to acknowledge the complexity and the magnitude but also understand that our assumptions and premises have to be underpinned with realistic expectations, realistic solutions and realistic paths towards the energy transition."

And finally, the Oilholic participated in another two sessions on the day. The first of these - held under ADIPEC's Decarbonisation Strategy Conference Stream - was titled "Carbon tax vs. subsidies: what is the best regulatory method to accelerate emissions reduction?" As the title suggests, a lively discussion on the two policy measures that can be used to accelerate emissions reduction followed, and of course free market solutions too. 

Panellists included (left to right), The Oilholic, Dr Carole Nakhle, CEO of Crystol Energy,  Arne Peder Blix, CEO of ICA Finance, Emmanuel Givanakis, CEO of ADGM Financial Services Regulatory Authority, Georges Tijbosch, CEO and Board Member of MiQ and Thomas McMahon, Co-CEO & Co-Founder of ACX.

Later on a busy afternoon, yours truly also hosted a second session under the Digitalisation in Energy stream titled "EV charging: Driving new energy business models powered by data insights." 

It involved a discussion of how energy retailers are leveraging data insights to generate new EV business models and drive the energy transition. The all star cast of this pivotal discussion included Fiona Howarth, CEO of Octopus Electric Vehicles, Amr Adel, Regional VP for Asia at Shell Recharge, Alaa El Huni, Chief Business Officer of CAFU and Dr. Fan Zhu, Chief Technology Officer, Bayanat. 

All in all, a hectic but rewarding Day II of ADIPEC. And that's a wrap. More to follow soon. Keep reading, keep it 'crude'!

To follow The Oilholic on Twitter click here.

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To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2023. Photo: (1) ADIPEC 2023's theme of  "Decarbonisation. Faster. Together" on marquee at Abu Dhabi NEC, UAE (2) ADIPEC's Decarbonisation Strategy Conference Stream panel on "Carbon tax vs. subsidies: what is the best regulatory method to accelerate emissions reduction?" © Gaurav Sharma 2023.

Joining Citi Private Bank

Some personal news: After 16 years of scrutinizing #oil, #energy markets, felt I needed a change. Delighted to accept such an opportunity @Citi Private Bank at VP-level. I remain a 'crude' man but broadening analytical scope to EMs, circular economy, impact investing & more #OOTT

— Gaurav Sharma (@The_Oilholic) August 11, 2020

It has been a fantastic 'crude' journey for the Oilholic in the energy market and this blog has been with yours truly every step of the way for over a decade. Thank you all for your support. While long may that continue, commentary here would be a little tempered and slightly irregular as this blogger has taken up a Vice President / Lead Analyst's position at Citi Private Bank. 

Things won't be coming to a close here, but whatever appears on this blog would be in a private capacity only. That also applies to any commentary published here in the past prior to Aug 1, 2020. That's all for the moment folks! Keep reading, keep it 'crude'!

© Gaurav Sharma 2020.

A catalogue of ‘crude’ missives on oil market turmoil

In the nine days that have lapsed since yours truly last wrote a blog post, the crude oil market has gone crude and cruder, peppered with barmy ideas, suggestions of strange alliances, tariffs, and of course tweets. For all of that, two things haven't materially changed – crude demand collapse continues as the coronavirus or Covid-19 pandemic spreads, and oversupply in the face of demand destruction is already here.

So here are few of The Oilholic’s missives via Forbes and Rigzone tackling various market slants between March 26-Apr 2:

• With whole countries in lockdown mode, forecasters now reckon a fifth of global crude demand could be wiped out - Forbes, Mar 26, 2020. 
• The Oilholic's thoughts on why a resurrection of OPEC+ would be too little, too late for the oil market - Forbes, Mar 27, 2020.
• Oil futures are in record contango - Forbes, Mar 29,2020. 
• Oil benchmarks ended Q1 2020 around 66% lower and lack of storage space is becoming apparent - Forbes, Mar 31, 2020. 
• US shale explorer Whiting Petroleum becomes the first casualty of the current oil price slump as it files for bankruptcy - Forbes Apr 1, 2020. 
• Moody's announces series of predictable negative outlooks on major oil and gas companies - Forbes, Apr 1, 2020. 
• How Saudi belligerence has pushed VLCC rates to comedic highs - Rigzone, Apr 1, 2020. 
• And finally, how a Donald Trump tweet sent oil futures soaring but the gains are unlikely to last - Forbes, Apr 2, 2020. 

And that's about it for the moment folks! Stay safe, keep reading, keep it 'crude'!

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Rigzone click here.

To email: gaurav.sharma@oilholicssynonymous.com

© Gaurav Sharma 2020. 

View on a 'crude' few days from Houston

The Oilholic is glad to be back in Houston, Texas, US for yet another visit. However, in many ways the latest outing marks several first instances. It is this blogger's first instance of arriving in America's oil and gas capital right after an OPEC summit, the first immediately following a mammoth oil price crash, and the first when several events yours truly was planning on attending, including IHS CERAWeek have been cancelled due to the coronavirus outbreak that is wrecking the global economy. 

Yours truly promised some considered viewpoints 'to follow' while scrambling out of Vienna, to get here via London following the collapse of OPEC+, and here they are - thoughts on why $30 oil prices could be the short-term norm, and in fact $20 could follow via Forbes, thoughts on the shocking but inevitable collapse of OPEC+ via Rigzone, and why the recovery since Monday's (March 9) oil price slump is not a profound change to where the market stands, again via Forbes. 

Interspersed will penning thoughts for publications, the Oilholic met some familiar trading contacts in H-Town (you all know who you are), and met two new crude souls via mutual contacts too. Most seem surprised by the level of Aramco's discounts for April cargoes, and opined that they were three times over their expectations. 

The Saudis certainly mean business, and what was a crisis of demand following the coronavirus outbreak that has crippled China; has Iran, Italy and South Korea in its grip; and has seen emergency protocols being activated from California, US to Hokkaido, Japan now has a new dimension. It is now a crisis of demand coupled with a supply glut as OPEC and non-OPEC producers tough it out in a race to the bottom of the barrel. That's all from Houston, for the moment folks! More soon. For now, keep reading! Keep it 'crude'!

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To email: gaurav.sharma@oilholicssynonymous.com

© Gaurav Sharma 2020. Photo: Downtown Houston, Texas, US © Gaurav Sharma, March 10, 2020.

Why drone attacks on Saudi Aramco haven’t sparked sustained oil price spike

The Oilholic returned from researching enhanced oil recovery in rural Pennsylvania on Friday (September 13), only to wake up to a tumultuous weekend, and week, for the oil market in that order. For in the small hours of Saturday morning, multiple drone and alleged missile attacks, claimed by Houthi rebels, hit Saudi Aramco’s crude processing facilities in Abqaiq and the Khurais oilfield. 

The attack took out 5.7 million barrels per day (bpd) of Saudi production capacity. Going by the last Platts survey, the Kingdom pumped 9.77 million bpd in August, implying the attack created a 58% drop in production at the very least when measured against last month's production levels.

The situation remains unpredictable, and as yours truly told the BBC – were it not for US production serving as a buffer, current oil pricing scenario and modelling would be very different.

The Americans remain the world's largest oil producer pumping in excess of 12 million bpd, and the country’s production could rise to 13.4 million bpd at some point in 2020. That is what has largely kept the market sane. Predictably, Brent futures shot up 20% to $71 per barrel at the Asian open on Monday but the uptick did not last. As the week’s trading came to a close on Friday (September 20), a look at benchmark prices - ironing out the week’s volatility - says it all. Brent closed at $64.28 per barrel, up $4.06 or 6.84% while the WTI closed at $58.09 per barrel, up $3.24 or 5.9% on the week.

The said movement is hardly the stuff of bullish dreams; even if the week belonged to the longs, short-sellers did not take as big a hammering as some feared. And consumers need not be overly concerned for now at least. As the Oilholic said on ITN/Channel 5 News, the physical crude market’s response and its domino effect on fuel prices depend not on the here and now, but on where from here? Lot depends on the Saudi and US response to the attack that both parties near instantaneously blamed on Iran which backs the Houthi rebels.

If the Saudis, in concert with the Americans, hit sites in Iran, then that could lead to a wider conflict in the Persian Gulf and some very real turmoil associated with it; not just knee-jerk price reactions of the sort we saw in the immediate aftermath of the revolt.

It is here that the market could see a sustained geopolitical risk driven uptick in oil prices for $10 to $15 per barrel. Plausibly, you will see prices at the pump rising given that retailers pass an oil price rise near instantaneously but are pretty slow in cutting them in the event of a price drop. And of course governments who in many cases take two-thirds of the price we pay per litre at the pump, might have some serious thinking to do as well.

For now an eerie calm prevails, with the market soaking in verbal salvos between Riyadh, Washington and Tehran. Logical conclusion is that an attack of this magnitude cannot go unanswered or Saudi Crown Prince Mohammed bin Salman, the power hungry favourite son of Saudi King Salman, would look weak. Finally, here are the Oilholic’s thoughts in detail on Forbes summing up the turbulent trading week. That’s all for the moment folks! Keep reading, keep it 'crude'! 

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To email: gaurav.sharma@oilholicssynonymous.com

© Gaurav Sharma 2019. Photo 1: Gaurav Sharma on BBC News at Six on September 15, 2019 © BBC, Photo 2: Gaurav Sharma on 5 News on September 16, 2019 © ITN