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TGS, with the support of TGS’ Russian partner DMNG, has completed its second phase of processing in the Russian Sea of Okhotsk.

Construction on Mozambique LNG stopped in April due to COVID-19, but Total continues work on the project even amid a $12 Billion shortfall. Financing for the Mozambique LNG project follows engineering contracts awarded by Total in the past few months.

Brazil’s Petrobras has found oil in an exploratory well located in the Sudoeste de Tartaruga Verde block, in the Campos Basin.

No gas or commercial reservoirs have been found in the first-ever exploration well off Lebanon’s coast, according to Energy Minister Raymond Ghajar and the Total exploration firm.

Thai energy company PTT Exploration and Production announced two deep­water oil discoveries in the Salina Basin, offshore Mexico.

The number of active natural gas rigs in the US fell further to 80 on 8 May. The number had dipped to 85 on 21 April, the lowest number since August 2016, according to the Baker Hughes rig count.

The oil market is likely facing the largest monthly drop in fracturing activity ever recorded in the US, according to Rystad Energy analysis.

US oil producers ExxonMobil and Chevron announced they are tightening output, for combined global shut-ins of 800,000 B/D, in response to plunging crude prices and shrinking fuel demand.

Even before the global pandemic impacted markets, decommissioning work in the North Sea region was expected to increase. Global decommissioning projects could reach $42 billion by 2024.

Now more than ever, safely managing the role of digitalization and the demand for decarbonization while efficiently balancing the books will be critical for companies to survive and thrive.

To meet the targets of the UN Sustainable Development Goals by 2030, countries must safeguard the gains already attained and accelerate efforts to achieve affordable, reliable, sustainable, and modern energy for all.

Recently, SPE presented the latest in its series of live panel discussions on LinkedIn, addressing sustainability in the oil and gas industry using the theme of “Measuring What Matters.”