Newsflash about oil&gas, and Alipay transaction platform

Time: 2019-03-15 14:18:45Source:

1.NYMEX crude oil price reaches 4-month high

Light, sweet crude oil prices settled above $58/bbl on Mar. 13 after the US Energy Information Administration reported crude oil supplies, excluding the Strategic Petroleum Reserve, fell by 3.9 million bbl to 449.1 million bbl for the week ended Mar. 8.

2.Onshore gathering systems: Solving Multiphase Flow Modeling Accuracy Challenges

As onshore oil & gas production begins to recover from the recent industry downturn, pipeline gathering system infrastructure is being expanded beyond the original design intent.  Gathering system flow rates are increasing to handle additional production, supplementary pipework is being added at the edges of the gathering systems to accommodate new drilling, and some systems are considering switching from predominantly single-phase flow to multiphase flow.  Hence, accurate multiphase flow modeling is required to make key project decisions because small amounts of multiphase flow can significantly impact pressures in large gathering systems.

3.Alipay inks deal with UK card transaction platform

China's largest mobile wallet Alipay will become more accessible in the United Kingdom, following an agreement between the company and UK card transaction platform Barclaycard to promote the app's acceptance among local merchants.


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