Business/economics
Schneider Electric says the deal advances its vision of creating intelligent industrial ecosystems that connect physical assets with digital insights across the asset life cycle.
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.
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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. -
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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Still recovering from the oil price downturn, oilfield service companies are facing more headwinds.
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ExxonMobil confirmed an exclusivity agreement with Var Energi for negotiations of a sale that could reach $4 billion, according to Reuters. If it goes through, the deal would make Var Energi the second-largest producer on the Norwegian Continental Shelf.
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In his first public appearance, Schlumberger’s new CEO said the company would focus on digitalization and restructure some operations.
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The move to split oversight of Aramco from the Energy Ministry ends decades of tradition but is designed to avoid conflicts of interest ahead of what could be the largest IPO in history.
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Recent exploration success in the North Sea has motivated Total to invest some $10 billion in the basin over the next 5 years.
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After the oil price downturn, operators placed renewed emphasis on spending discipline, in drilling, project costs, and balance sheets. For some, that was a different metric: return to shareholders over production growth.
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Colombia is walking a thin line between becoming another fading petroleum province and Latin America’s next big success story. Its aces in the hole: unleashing its nascent offshore and unconventional sectors.
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The entrepreneurial ecosystem and the oil and gas industry are not a perfect match, but the industry has made strides in recent years to attract the startups developing innovative technologies that could usher it into a new era. How are companies bridging the gap?
