Business/economics
The long-term outlook analysis says a potential shift toward new construction could push 2026 production 3% above 2025 levels.
Lower operating expenditures and a changing asset mix helped UKCS operators cut average production costs by 9% year over year, despite relatively flat production levels, according to the NSTA.
The deal adds 40,000 B/D of production and expands Cenovus’ SAGD footprint with three Alberta assets.
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Late December/early January is the time of year when industry outlooks are announced, revealing company spending plans, oil price predictions, and potential stumbling blocks. -
Exxon Mobil is reorganizing and creating three new upstream companies and a global projects company.
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The state-run offshore company has found a gas and condensate field that holds an estimated 250 million BOE.
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The national oil company’s aim to lift oil and gas production and reserves over the next few years will rely on growth from big international projects, including those in Nigeria, Guyana, and the US.
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Industry confidence is on the rise, and so is capital spending, according to DNV’s 2019 annual outlook.
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A new report predicts that US output will rise to a new record high of 12.1 million B/D in 2020.
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2019’s class of offshore projects show a wide range of potential sanctioning outcomes.
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By racking up exploration agreements in the United Arab Emirates, Oman, and Bahrain, Eni took a big step forward in its pledge to tap into the Middle East’s vast swaths of highly prospective oil and gas acreage.
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Ahead of the release of the Trump administration's changes to Obama-era rules governing offshore oil platforms, Michael Bromwich said he is worried. "I don't think they are in the public's interest," he said.
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Saudi Arabia is trying to push oil prices back up but US producers remain wary and uncertain.
