Business/economics
Proposed and final notices of sale represent nearly 80 million acres in the Gulf of Mexico and approximately 1 million acres in Alaska’s Cook Inlet.
The US and UK sanctioned Russian independent Lukoil International and state-owned Rosneft in a bid to pressure Russia over Ukraine.
Ranger acquires American Well Services for $90.5 million, adding 39 workover rigs and boosting its fleet by 25%.
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A report from Rystad Energy shows a near-term boost in the global floating production market, with more than 30 new FPSO projects possibly reaching sanction from 2019 to 2021. -
For the next several years, supplies of crude will depend on several macro factors. Some are easier to forecast than others.
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A shut-in subsea flowline is believed to be the source of the spill on Husky Energy’s SeaRose FPSO offshore Newfoundland and Labrador. The spill is believed to be the largest in the history of the Canadian province.
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The agreement calls for the two companies to partner on techno-economic feasibility studies and jointly assess investment opportunities across the LNG value chain.
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A deal with the UK-based energy and chemicals company could fetch up to $3 billion for ConocoPhillips, which is transitioning out of the North Sea to focus on US shale operations.
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US crude oil production is expanding at an unprecedented rate, but much faster growth will be needed in the next few years to meet the world’s demand if global investment in conventional supply doesn’t pick up, an IEA report indicates.
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The deal would raise nearly $4 billion for GE, which plans to reduce its stake in the oilfield services company from 62.5% to at least 50.1% after the transactions. It had previously announced in June its intention to sell its stake over a 2- to 3-year period.
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The Abu Dhabi government approved a $132.3-billion capital expenditure increase that will fund, among other things, a plan that could enable the country to sustain LNG production through 2040.
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A decision by the US District Court in Montana deals a blow to the TransCanada project, which is designed to transport heavy crude from Alberta to Nebraska.
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The deal gives Equinor exploration parcels in the prolific Jeanne d’Arc Basin, near its existing discoveries offshore Newfoundland and Labrador.
