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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The service company and independent verifier are aiming to develop a methodology for qualifying the integrity of digital twins, which they say will help level the industry’s varying technical definitions of, and expectations towards, the technology. -
Lower equipment utilization and prices have worsened the pain for oilfield service companies in Texas, New Mexico, and Louisiana, while operators continue to grapple with the industry’s shifting business climate.
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India’s Petronet LNG Ltd. signed a $7.5-billion agreement to buy into Tellurian Inc.’s proposed LNG terminal in Louisiana in what is described as potentially one of the largest foreign investments in the US to ship shale gas abroad.
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ModuSpec, a drilling rig inspection, auditing, and training services company, re-emerges as an independent operating company following a strategic restructure of Lloyd’s Register. It will focus on the Middle East and Asia, as well as Egypt, Uganda, and Kenya.
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The value of natural gas flared by 80 different nations around the world has increased by 11% to hit a global peak this year of $16.4 billion, according to a new data analysis.
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As the operator seeks to raise $15 billion from asset sales through 2021, it sees a viable opportunity in its Gippsland Basin upstream portfolio, which could fetch up to $3 billion in a sale. Wood Mackenzie anticipates strong interest, but the age of the field may prove problematic.
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The recent jump in oil price could create additional momentum for margins in the service sector. With shale euphoria wearing off, service company margins are still showing some resiliance. If the price hike persists into 4Q 2019, increased activity could improve pricing further.
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Rystad estimates almost 2 million B/D will remain shut in on average during September and October, with full restoration to pre-attack levels not coming until closer to year end.
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Cheniere Energy signed a long-term LNG supply deal with exploration and production company EOG Resources. Under the terms of the agreement, EOG will sell natural gas to Cheniere over a period of approximately 15 years beginning in 2020, with the quantity starting at 140,000 MMbtu/D and eventually increasing to 440,000 MMbtu/D. The first 140,000 MMbtu/D of LNG will be …
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The deal sees Energy Transfer gain, among other assets, various crude and natural gas liquids pipelines running from the Denver-Julesburg and Anadarko Basins.
