Business/economics
Analysts weigh near‑term risks for Middle East oil and gas producers after a tentative 2‑week ceasefire between the US‑Israeli coalition and Iran.
The ASEAN Council of Petroleum and Energy and SPE have taken a step toward deeper regional collaboration, formalizing a Memorandum of Cooperation at OTC Asia 2026. The agreement signals a shared commitment to advancing energy security, sustainability, and technical excellence across ASEAN through expanded knowledge exchange and workforce development.
The transaction creates a new company, NEO NEXT+, which is now the largest independent producer on the UK Continental Shelf.
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Statoil’s board of directors proposed to change the name of the company to Equinor as of 16 March. The name change is intended to support the company’s strategy and development as a broad energy company. -
Pioneer shut in 8,000 BOE/D production in its West Panhandle field in Texas on 6 March due to a compression station fire. No injuries occurred. Planning to use idle compressors, production is expected to restart later this month or in early April.
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The cost cuts made during the downturn and the recent increase in oil prices have led to some global offshore projects becoming economically viable. Norway is leading the comeback.
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Partnerships are proving key in developing and sustaining big offshore projects internationally, with Eni now teaming with ADNOC off Abu Dhabi and farming out another stake in the Zohr gas field off Egypt.
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Fears of peak oil demand are exaggerated, Saudi Aramco’s CEO says, despite recent headlines that advances in electric vehicles and worries about climate change will lead to a drop in global oil and gas use.
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Anadarko aims to maximize immediate short-cycle value through tiebacks and platform relocations in the Gulf of Mexico.
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Oil & Gas UK recently published guidelines with its most up-to-date information aimed at helping operators ensure they have the required financial measurements in place to meet the cost of cleanup for an oil release.
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After 3 harsh years of budget cuts and layoffs, oilfield services companies are beginning to see a recovery take shape. And the worst may be over for heavy-asset suppliers and equipment manufacturers in the offshore and subsea sector, but recovery is likely to be significantly slower.
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Critical to the integrity of our industry is confidence in publicly disclosed reserves. The Reserves Confidence Metric is a simple tool to identify reserves estimates that should be assessed with caution or require further information.
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E&P has become a margin business, with relentless pressure on cost performance and global competition for capital. As operators consider how to achieve further reductions in unit operating costs, the leadership team should focus on long-term value.
