Business/economics
Schneider Electric says the deal advances its vision of creating intelligent industrial ecosystems that connect physical assets with digital insights across the asset life cycle.
The firm’s latest analysis puts the bulk of the blame on a fragmented supply chain.
The supermajor said the fields are not expected to contribute meaningfully to its production profile by 2030.
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Work has resumed on Energan’s Singapore FPSO; subsea installation for the Karish project continues as planned. -
Weatherford announced that Mark A. McCollum, president, CEO, and a director, has left the company, effectively immediately.
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The leadership change comes amid a downturn in global crude prices which has lowered the national oil company’s revenues this year. Taking over the position will be the current chief financial officer.
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Although oil prices were down on 8 June, the market is expected to see higher prices in response to the OPEC+ decision to continue production cuts.
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The Permian Basin is now influencing the upstream water market on the way down, while many questions swirl around the implications of unprecedented shut-ins.
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Forecasts are lowered for levels of E&P, budgets, and project sanctioning.
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The economic impact report looked at scenarios involving current policies and potential bans on both drilling permits and offshore leases.
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Country had hoped to boost oil output and bring in much-needed revenues.
