The American Petroleum Institute has updated Standard 2RD to expand and clarify safety requirements for dynamic risers used in floating production systems. "This updated edition incorporates advances in riser integrity management and addresses evolving offshore conditions, enhancing clarity, consistency and safety," the API said. The revision consolidates earlier design approaches and introduces more rigorous testing against extreme environmental conditions "to ensure that even in severe events, risers are more likely to require repair rather than suffer catastrophic failure."

Caterpillar is joining a growing list of companies cashing in on the AI-driven power generation buildout, reporting a 31% jump in quarterly sales of generators and turbines for data centers, far outpacing growth in its traditional equipment lines. The company's Energy & Transportation division, once a secondary segment, is now its largest and fastest-growing business, accounting for roughly 40% of total revenue last year, with additional room for growth. Several US oilfield service firms, including Halliburton, ProPetro Holding and Liberty Energy, are also diversifying into power generation to serve the booming data center market.

Canadian Prime Minister Mark Carney and President Donald Trump have discussed reviving the Keystone XL oil pipeline as part of broader trade negotiations, though political friction, rising tariffs and mixed industry interest cloud that prospect. American Petroleum Institute President and CEO Mike Sommers welcomed the dialogue and voiced support for bringing the project back. He called its earlier cancellation "one of those marquee examples of a permitting process that was completely abused by the previous administration."

Global oil demand is now expected to max out at 108 million barrels per day in 2032 -- two years later than previously anticipated, reports Wood Mackenzie. It attributed the shift to the ongoing use of hydrocarbons in transport and chemicals, as well as the growth of artificial intelligence and geopolitical tension. "Fossil fuels are no longer uncontested; they are being squeezed into narrower roles, but their decline is proving more gradual than expected," said the report.

Despite oil price weakness and oversupply risks, ExxonMobil, Chevron, Shell, BP and TotalEnergies are expected to boost production by 3.9% in 2025 and 4.7% in 2026, according to analysts, signaling confidence in long-term demand. The growth is driven by a combination of new projects, recent capital investments and major acquisitions. The companies are scaling back share buybacks, reducing headcount and cutting spending on low-carbon ventures to focus capital on their most profitable oil and gas assets.

Stronger refining margins lifted Phillips 66's third-quarter adjusted profit to $2.52 per share, exceeding analyst expectations, as its refining segment rebounded from a $67 million loss a year earlier to $430 million in earnings. US refining margins climbed nearly 29% year over year during the third quarter, supported by tighter supply and geopolitical disruptions. "We have been making structural changes to the portfolio and organization that will continue to drive long-term shareholder value," said Executive Vice President of Refining Richard Harbison.

Mazama Energy has achieved a breakthrough in geothermal technology by drilling into "superhot" rock near Oregon's Newberry Volcano, reaching 331°C using a proprietary hydraulic fracturing method. This marks the hottest rock accessed by an enhanced geothermal system, surpassing the usual temperature thresholds of under 300°C for similar projects. The approach, which creates an enhanced geothermal reservoir, aims to access more energy with fewer wells.

A new Senate bill introduced by Sen. Ted Cruz, R-Texas, and colleagues would harmonize the approval process for US liquefied natural gas exports to non-free trade countries with that for trade partners, in a bid to cut red tape and accelerate project development. The proposal excludes sanctioned nations and would allow the president or Congress to block exports to specific countries. US Rep. Michael Cloud, R-Texas, plans to introduce companion legislation in the House of Representatives.

The Federal Permitting Improvement Steering Council, under the leadership of Emily Domenech, is working to keep key infrastructure projects on track during the government shutdown. The council has recalled essential staff and is coordinating with agencies. It has achieved significant progress in permitting mining projects, completing several during the shutdown, and aims to list 50 projects by year-end.

Cybersecurity is critical to the infrastructure of the oil and natural gas industry. The energy industry, including oil and natural gas, is ranked 2nd highest of all industries most likely to suffer a cyber-attack. This conference provides an opportunity to candidly discuss challenges and share solutions. Sessions, essential to cybersecurity, are chosen and presented by recognized experts in the field. Register today.

This course is instructionally designed for inspectors, engineers, and other personnel who want to learn more about the practice of inspection of pressure-relieving devices, as described in API Recommended Practice 576. To learn more, visit apilearning.org.