Business/economics
The firm’s latest analysis puts the bulk of the blame on a fragmented supply chain.
The supermajor said the fields are not expected to contribute meaningfully to its production profile by 2030.
Ultradeepwater prospects along the northern coast of Brazil could help offset decline in legacy basins, though permitting hurdles remain a wild card.
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The UK company will purchase oil producing acreage across the northern part of the south Texas Eagle Ford shale play. -
Equinor advances Irpa and Verdande field development projects closer to first oil with a raft of contract awards.
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An International Energy Forum report says oil and gas upstream capital expenditures increased to their highest level since 2014 but more is needed.
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State of Energy report also sees a widening role for natural gas due to robust global LNG demand.
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Environmental report recommends shrinking the Alaska project to three drilling sites from the five initially proposed by ConocoPhillips.
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Two PSCs have been sold to PSEP for $475 million.
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The authors of this paper describe the path of an operator’s successful exploration program that has integrated geologic and geophysical understanding and new technology to discover 8 billion BOE at the time of writing.
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Supermajor sells Central African operations for $407 million.
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Spending plans announced by oil and gas companies indicate that about 80% of their budgets are directed toward traditional E&P, efforts to reduce emissions and carbon footprints, and sustainable investment in new energy. It is reasonable to expect that with these budget increases, there will be an uptick in the employment of petroleum professionals.
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Fossil fuel importers could move more quickly to renewables as a domestic alternative to buffer the impact of energy supply disruptions and rising prices.
