'Powering Performance' at OPTIMIZE 26

It's a pleasure, as always, to be back in Houston for OPTIMIZE 26 - the flagship biennial event of Emerson's Aspen Technology business.

This year's event convenes under the core theme of 'Powering Performance.' It also happens to be the first in the series since AspenTech's acquisition by Emerson last year. 

The event has drawn delegates from over 40 countries, 20 industries and will have 150 sessions along two key content silos - process industries (the focus area for this blogger) and power & utilities, alongside an executive leadership track. 

As AI, big data and machine learning become an integral part of the energy and petrochemicals landscape, and talk of agentic AI gets louder, OPTIMIZE 26 is taking place at critical time for the sector, with many movers and shakers in town to discuss a software-led future for their companies. 

On Monday, the senior leadership of AspenTech were joined by many of those for the event's opening keynotes to apprise the industry of their latest efforts, and partnership with the software firm to improve throughput and efficiencies, reduce downtime, bring about predictive maintenance, and more. 

Vincent Servello, President of AspenTech, noted that for much of the process industries landscape, software has become mission critical. 

AspenTech is accelerating it's investment in AI, particularly so in the case of AI-driven asset performance management and the agentic AI environment, he added. 

Servello's remarks set the stall for key industry executives to offer their viewpoints. They included Dylan Pugh, Vice President of engineering at ExxonMobil, Adriano Alfani, CEO of Versalis, Emmanuelle Brechet, Vice President of data technologies at TotalEnergies. 

Servello and the industry executives were flanked by Claudio Fayad, CTO of Aspentech, Heiko Claussen, Chief Technologist, AspenTech and Vikas Dhole, SVP, Modeling & Optimization, AspenTech. 

The AspenTech spokespeople emphasised on leveraging data and software to enhance agility, efficiency and autonomy across industries at a time of rising uncertainties, complicated geopolitics and volatile input costs. 

In a fireside chat with AspenTech President Servello, Pugh of ExxonMobil, touched on why software had become a differentiator but also expressed his thoughts on smart, strategic deployment of it and not opting for AI solutions just for the fear of missing out. 

In an exchange with AspenTech CTO Fayad, Alfani of Versalis explained how software solutions and its partnership with AspenTech helped the company's shift from base chemicals to biochem and circularity at its European assets, where the traditional chemicals segment was proving to be very challenging. 

And in a presentation, Brechet of TotalEnergies, spoke on how software was central to the French supermajor's drive to boost operational excellence, save costs, and reduce emissions. Overall, a great start to the event. That's all for now folks! More musings to follow soon. Keep reading, keep it here, keep it 'crude'! 

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2026. Photo I: Energy analyst Gaurav Sharma at OPTIMIZE 26 in Houston, US. Photo II:  Vincent Servello, President of AspenTech (left) in a fireside chat with Dylan Pugh, Vice President of Engineering at ExxonMobil. Photo III: AspenTech CTO Claudio Fayad (left) with Adriano Alfani, CEO of Versalis. © Gaurav Sharma, May 2026.

Speaking and moderating at OPTIMIZE 26

Delighted to announce that yours truly be speaking and moderating at OPTIMIZE 26 - the flagship event of Emerson's Aspen Technology business - due to be held in Houston, US from May 11 to 14.

The theme for the event is "Powering Performance."

The Oilholic's engagements will include panels and executive dialogues held as part of OPTIMIZE 26's process industries and executive tracks.

Explore the event's exciting agenda here. 

Really looking forward to the deliberations, meeting thought leaders and friends. Join, if you can, for some fantastic industry exchanges and networking in Houston.

Keep reading, keep it here, keep it 'crude'! 

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2026. Photo © OPTIMIZE 26.

Oil jumps (again), UAE quits OPEC, BP's CEO & more

With no end in sight to the US-Iran stalemate and a continued blockade of the Strait of Hormuz by both sides, Brent and WTI oil futures have not only stayed north of $100 per barrel this week but traded above $110 and $108 per barrel respectively on Wednesday. 

The market is fast reaching a place where the pricing pain of the crisis could rise even further. 

Physical traders are reporting spot premiums of around $20 per barrel on the prevailing futures prices, while investment banks are predicting fuel shortages and demand destruction at some point in May if a resolution isn't reached soon. 

In the midst of all of this, the UAE announced on Tuesday that it was quitting OPEC, sending ripples through the market.

The decision doesn't come as much of a surprise to the Oilholic given the country's very open desire to pump more oil, monetise it effectively and diversify its economy. 

Nonetheless, the shock factor for the market was definitely there when the news broke. Should the Middle East crisis ease, the UAE's move will help lower oil prices next year. Here are some thoughts on this development via a Forbes op-ed. 

Earlier this month, yours truly also held two very interesting interviews with Mahdi Aladel, CEO of Aramco Ventures and Vincent Servello, President of AspenTech. Click on the respective hyperlinks to have a read should you wish to.

And finally, here are your truly's thoughts via Energy Connects on the appointment of BP new CEO Meg O'Neill, and the possible corporate course she may chart for the energy major.

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

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2026. Photo: Oil pump jack building blocks model at the AVEVA World 2023 Conference, Moscone Center, San Francisco, US © Gaurav Sharma, October 2023.

Crudely blockading the blockaders

The Middle East crisis and Iran War have quite frankly taken a turn for the bizarre. 

That's after talks between the US and Iran broke down in Islamabad over the weekend, and global markets were greeted by President Donald Trump's announcement that the US navy would blockade the Strait of Hormuz. 

The key maritime artery has been the subject to threats of a virtual closure from Iran since hostilities began on February 28. 

A fragile ceasefire agreed last Tuesday - for peace talks - holds for now, but for how long and to what effect? So, are the Iranian blockaders being blockaded by the Americans? That's what its looking like for now. 

The US blockade took effect at 15:00 BST with Iran saying it would not surrender under threats, and US Vice President J.D. Vance accusing Tehran of "economic terrorism."

As the drama took another intraday turn, Brent and WTI futures again came near to touching $100 per barrel before falling back. But the physical market is leading the futures market in attracting a spot premium of $20 to $44 per barrel at key trading hubs in Asia, according to sources. 

Speaking at a forum in Washington DC, US on Monday, Energy Secretary Chris Wright admitted crude oil prices will remain high and possibly keep rising until the Strait of Hormuz opens up. He added that prices will hit their peak sometime in the next few weeks before declining. 

"But once the conflict ends, and energy starts flowing again, you'll start to see downward pressure. That will take some time," he said. We all await that day Sir, but right now it seems pretty elusive. 

Meanwhile, as the crisis continued, so did the Oilholic's commentary on the global airwaves with the BBC World Service radio's Newshour programme, Al Jazeera English and India's NDTV News evening bulletins on Thursday and Friday. 

It is yours truly's belief that both equity and the energy markets jumped the gun a bit when the announcement of the ceasefire came nearly a week ago. 

The vague ceasefire between US and Iran has given Tehran flimsy excuses to continue to subject maritime traffic - including a fifth of the world's crude oil - to threats.

Or, in Iran's convoluted logic, a $2 million toll per crossing. Not only is this contrary to international law, Oman - with whom Iran shares the maritime border of the Strait and wishes to share the revenue with - wants no part in it. The international community therefore needs to rally and intervene but the situation remains fragile and uncertain.

Furthermore, as the Oilholic has recently noted - a risk premium of at least $10 per barrel is going to stay baked in until the remainder of the year, even if peace were to prevail tomorrow. We are long way away from that. Meanwhile, the disconnect between the futures and physical markets, and the inflationary pressures of high oil prices will continue. 

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

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2026. Photo I: White House, Washington DC, US © PublicDomainPictures / Pixabay, February 2012. Photo II: Energy analyst Gaurav Sharma on NDTV. © NDTV 2026.

The 'crude' day after the night before!

It's the day after the night before when the Iran War threatened to escalate even further. Instead, we ended up in a contentious ceasefire between the US and Iran, with divergent views on what it entails or doesn't. 

For Iran, the ceasefire includes the stoppage of the bombardment of Lebanon by Israel and not just its territory, but according the US and Israel that isn't the case. 

Iran implausibly claims the US has agreed to all of its demands. The US claims Iran has agreed to all its, and that victory was theirs. And apparently, the Strait of Hormuz is completely open but also not open and faces restrictions given whose word to take. Iran also wants to charge a toll for Strait of Hormuz transits in partnership with Oman, while the latter is rubbishing the idea! 

Meanwhile, Israel continues to pound Hezbollah targets in Lebanon, and all warring parties concerned have rushed to declare victory in a war that still appears far from over. Reports of Iranian drones and Israeli missiles also continue to hit the wires. 

As the world pours over differing versions of a supposed 10-point plan for peace being discussed by the US and Iran, unable to ascertain who is or isn't fudging the list, the Oilholic's trading sources in Singapore suggest there's still severe stress in physical market. A tight tug for currently available crude oil barrels continues. 

By some accounts, that amounts to as much as a $20 per barrel premium to Brent in Asian spot markets. So, this isn't over yet and the overnight ceasefire might just be a brief stoppage between further military skirmishes interspersed with tough negotiations. That's all for the moment folks. More market musings to follow soon. Keep reading, keep it here, keep it 'crude'! 

To follow The Oilholic on Twitter click here.

To follow The Oilholic on Forbes click here.

To follow The Oilholic on Energy Connects click here.

To email: journalist_gsharma@yahoo.co.uk  

© Gaurav Sharma 2026. Photo: Oil production site. © Monika Wrangel / Pixabay, May 2015.