Business/economics
After a decade and a half of declining production, Uzbekistan, ranked 15th worldwide in gas output, has been seeking foreign partners to revive and reverse the fortunes of its oil and gas industry.
While often associated with smaller discoveries, subsea tiebacks are playing a growing role in contributing to the broader energy mix.
The Houston-based enhanced geothermal developer scored $1.9 billion in an initial public offering, positioning it to expand projects in Utah and Nevada.
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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. -
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.
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As part of a deal that could net up to $3 billion, GE will lose majority control of Baker Hughes just two years after it acquired the oilfield service company.
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As part of a plan to increase revenue to more than $1 billion by 2023, the engineering and construction company is moving away from large offshore platforms with fixed substructures, saying that it expects to win and execute a series of FPSO projects in the future.
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Still recovering from the oil price downturn, oilfield service companies are facing more headwinds.
