Business/economics
Technology and partnerships remain important, while phased approaches may supplant lengthy appraisal programs, experts said during CERAWeek.
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.
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Oil demand growth from the transportation sector, the linchpin of oil consumption, will slow to a trickle by 2035 and level off, while demand from the petrochemicals sector will become oil’s chief growth driver, the BP 2017 Energy Outlook says. -
One person who has given a lot of thought to what the oil and gas industry might look like when it can no longer count on a growing consumption from the transport sector is Iskander Diyashev, an instructor for PetroSkills and a former SPE Director who is serving as an SPE Distinguished Lecturer in 2017–18 for the second time. His current lecture topic is The Future of…
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LNG as a fuel source has been an energy staple for many Asia-Pacific countries for decades, and is increasing in importance in other regions as countries look to diversify their energy mix.
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Despite a decline in oil and gas production and a decrease in revenue from 2015, an Ernst & Young’s study had a cautiously optimistic outlook as the industry adjusts to what it called “the new normal” of a lower, but stable, oil price.
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Acteon Group is buying Actuant’s Viking SeaTech business at a steeply discounted price of $12 million compared to the $225 million that Actuant paid in 2013 to acquire the company, and Actuant is buying Acteon’s Mirage for $16 million.
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BHP Billiton plans to divest its US onshore assets. The company will continue to complete well trials, acreage swaps, and look into midstream solutions to increase the value, profitability, and marketability of the assets.
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Petrofac sold its 50% interest in Petro-SPM Integrated Services to Schlumberger. Petro-SPM operates the Pánuco Integrated Service Contract in Mexico. Schlumberger now owns 100% of Petro-SPM.
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Total’s acquisition of Maersk Oil includes holdings in the North Sea Johan Sverdrup and Culzean projects. Total will become the second-largest operator in the northwest Europe offshore region. Maersk’s strategy shifts to its transport and logistics division.
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Industry interest in US Gulf of Mexico acreage declined in the number of bids and the dollars offered at the latest federal lease sale, compared with the prior sale. But there was still some confidence shown in higher risk prospects.
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This well-established oilfield consultancy explains why 2020 might be a big year for the unconventional sector.
