Business/economics
A new licensing deal with ZL Chemicals will make Chevron’s unconventional EOR technology available to other tight-oil producers.
Crude benchmarks spiked amid concerns that the US-Iran ceasefire is collapsing as commercial shipping comes under renewed attack.
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.
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Surplus production in the oil markets is likely to grow in 2017, and long-term oil prices will track with costs and not revert to the margin-inflated patterns of the shale boom. -
The world’s developing countries will lead economic growth and consume an increasing share of energy production globally over the next quarter-century.
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This week the US Geological Survey (USGS) reported that the Wolfcamp shale holds 20 billion bbl of technically recoverable oil. This builds on other active formations in the Permian Basin, where nearly half of US active rigs are operating.
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The US Energy Information Administration argues "downturn" may no longer be the right term.
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Since the recent oil price downturn, the offshore MMO market has witnessed a significant decline in global expenditure. The most severe decline in total regional expenditure is anticipated to occur in North America, with modifications expenditure forecast to drop by 56% between 2014 and 2016.
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The five top offshore producing nations produce 43% of all the oil offshore.
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The outlook for the US onshore oil business is looking better, which is not to say it is looking up. Recent surveys by the Federal Reserve banks of Kansas City and Dallas indicated the industry had stabilized after a long period in critical condition.
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The world’s developing countries will lead economic growth and consume an increasing share of energy production globally over the next quarter-century,according to Rob Gardner, manager of economics in corporate strategic planning at ExxonMobil.
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Applying an economic analysis for Trinidad and Tobago's deepwater gas fiscal regime, results were calculated for various price scenarios to identify a workable strategy for development of offshore resources.
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Schlumberger and Baker Hughes leaders said increased investments are critical to ensuring technological advancements for the industry.
