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.
Output is rising fast in the South American shale play and putting Argentina on a course to soon reach 1 million B/D.
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Iraq’s oil minister Ihsan Abdul Jabbar said the country’s state-owned Basra Oil Co. is the likely candidate to buy ExxonMobil’s operator stake in the giant West Qurna-1 oil field. -
Oasis Petroleum announced this week that it is acquiring the position from Diamondback Energy.
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African oil and gas is increasingly becoming an investment magnet as new discoveries position the continent as a guarantor of energy security to emerging Asian nations and as Africa itself seeks to enter the 21st century.
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As our industry continues to adapt and evolve to meet the changing needs of our fast-moving world, we see a sizable and growing prize for those who are willing to work and think differently, challenge traditional approaches, forge new working relationships, and act boldly.
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President Tom Blasingame reminds SPE members that the pandemic is not over and that SPE has a long way to go before significant revenue is realized. However, SPE’s commitment remains strong to maintain consistent, high-quality services to its members—not only in good times, but in difficult times as well.
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The deal gives Houston-based Vencer Energy 44,000 acres and 40,000 BOE/D of baseline production.
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The South African Development Community has agreed to send up to 3,000 troops to contain Mozambique’s terrorist insurgency after Total declared force majeure and evacuated all personnel from its Mozambique LNG worksite.
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Delek Drilling’s deal to sell Abu Dhabi’s state-owned Mubadala Petroleum its stake in Israel’s offshore Tamar gas field kicks off what the Abraham Accords envisioned as the kind of business cooperation that could bring peace to the Middle East and prosperity to the East Med.
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The US shale producer exited bankruptcy in February and said it will seek a new permanent CEO.
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With Chevron out of the picture, Iraq may turn to China to buy ExxonMobil’s 32.7% stake in West Qurna-1, or it may buy some or all of the stake itself to meet an end of June deadline to complete the sale.
