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BP, Eni deepen blockchain trading in European gas

June 5, 2017 LONDON (Reuters) – Oil majors BP and Eni are deepening their foray into blockchain technology, starting to run blockchain trades in parallel with their live trading systems, according to developer BTL Group. The energy traders, together with Austria’s Wien Energie, had previously tested BTL’s Interbit blockchain platform over 12 weeks, carrying out trades in European natural gas. For example, the blockchain system found a discrepancy in the volume allocation of a trade of French gas sold by Eni to BP, eradicating a mistake that would have cost…

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Slumping oilfield services sector bets on new offshore technology

May 4, 2017 By Jessica Resnick-Ault and Liz Hampton HOUSTON (Reuters) – The oil industry’s top equipment and services suppliers this week are hawking vastly cheaper ways of designing and equipping subsea wells, aiming to slash the cost of offshore projects to compete with the faster-moving shale industry. At the Offshore Technology Conference, the industry’s annual gathering of floating rig and subsea well suppliers, sales pitches this year are all about cost savings and faster time to first production. With U.S. crude priced under $50 a barrel, offshore projects with…

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Exclusive – Saudis, oil majors discuss gas investments ahead of giant IPO

April 11, 2017 By Ron Bousso, Dmitry Zhdannikov and Rania El Gamal LONDON/DUBAI (Reuters) – Saudi Arabia and international oil companies have discussed gas venture opportunities inside the kingdom and abroad as part of the top crude-exporting country’s drive to diversify investments before the listing of national energy giant Saudi Aramco. Saudi officials explored investment opportunities with firms including BP and Chevron to help develop its gas reserves, the world’s sixth largest, at a time of booming energy demand at home, four industry sources told Reuters. Aramco has also looked…

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