You're listening to the oil and gas this week podcast with Mark LeCore and Paige Wilson.

This is the show for busy oil pros who quickly want to keep their finger on the pulse of the industry.

You're listening to the Oil and Gas This Week podcast, brought you by Cognite, AI for the industry.

And this is the show for Busy Oil Pros who want to quickly keep their finger on the pulse of the industry.

Thanks for joining us for episode 377. Save the date for Impact Cognite's annual user conference happening October 13th through

the 16th in Houston, Texas. Whoa. What? Been traveling a whole bunch. I know. Did two

keynotes back to back, two different states. I had a great time up in Bozier City at the Pipeliner's Group. And then the Texas Energy Council here in Dallas, Texas. And I think I have, I don't know, five or six more keynotes to do this year. So it's been busy. Speaking of being busy, our last mixer in April was a sellout. It was a great time.

We take the summers off for our mixer. So our last one will be this Thursday, May 29th. The links in the show note. It's a great way to network and meet oil and gas business leaders in a fun environment. We have prizes and giveaways. And at the end of the day, the money we raised goes to Red Em to fight human sex trafficking. So if you're in the area, the end of May, check out the link in a show note, sign up for it.

The money goes for a great cause. And if you do show up, come find me, introduce yourself. And we have a novel of a review. Yeah, but I'm not going to read the whole thing. So it's a five-star frat completions price war. first, I absolutely love listening to the show i wish it was longer

l-o-l i've learned so much about the industry just by listening to you all i'm always thrilled

when a new episode drops i recommend you all to everyone that asks for a good podcast apologize

in advance for the long question feel free to consolidate it for your show.

And I guess we'll use that for our next month's first Friday Q&A. Yep. There's a bunch of questions here. We're just going to use those for first Friday Q&A. So stay tuned for that. Yeah, so thanks, Frack Dog, Danny. That's sweet. I love it. It's freaking sweet, dude. All right, well, let's get into the news articles.

First up, we have Indian refiner scoop up Russian ESPO crude as China steps back. You know what's interesting about ESPO? You know how wine, except for wines that come from France, are named for the grape. Right. So if you like a mallback, there's actually, it comes from a grape called mallback, right? Except in France, so they name it out of the region, the wine's name for the region that it comes from. That's why legally you can't have champagne no matter what it's made from unless it comes from the champagne region of France, right? Right, right, right, right. In audience, let me know if I'm wrong about this. This is the only grade of crude that's named from how it gets to market. Every other,

like Brent crude is named from the Brent reason in North Sea. It's actually named after a goose.

WTI is West Texan intermediary, right? The oil is always named for where it comes from.

ESPO is as a crude oil that's pretty high quality, low sulfur, but it's named because

it's exported through the Eastern Siberian Pacific Ocean.

ESPO, Eastern Siberian Pacific Ocean, pipeline, only one that I know about its name for

how it gets there.

Anyway, the trivia that I will quiz you on if you come to our mixer, not really.

Interesting thing here is India is buying more of this Russian blend. Actually, this is talking about April. They bought a whole bunch of it. What's happening, of course, is there are weakening Chinese demand for this blend. This all ties into the geopolitics of oil trading around the world. And by the way, if you're a new listener, if you're an old listener, you've heard me say this before, but if you're a new listener, have you ever wondered why oil is exactly the same price at the same point in time? So right now, WTI, I think, is going for $62.30 a barrel here in Houston and exactly the same price in Tokyo, Japan, exactly same price in Rio de Janeiro, exactly same price in Singapore. That's because we have

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