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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The $2.59-billion deal advances BP’s effort to divest $25 billion of its global proceeds by 2025. -
Since 2000, Brazilian Petrorecôncavo, which specializes in revitalizing mature onshore fields, has performed operations and project implementation services in most fields of the Remanso Cluster.
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The $533-million field has a production capacity of 27,000 BOE/D and estimated reserves of 1.2 billion BOE.
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After struggling for years to attract investors and develop its oil-rich fields, the kingdom will extract oil discovered in the Gulf of Thailand in 2004.
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Additional acreage in the North and Norwegian seas are also available in the 2021 round.
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ExxonMobil details its massive reduction in the value of its reserves, just as the benefits of all that hacking are starting to become apparent.
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Extremely cold weather left many Texas residents without power and caused oil prices to reach a 13 month high. What happened to the Texas power grid and are there ways to prevent similar difficulties in the future.
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Debt-riddled Premier will emerge as Harbour, seen valued at around $5 billion.
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After making it through the largest weather-induced shutdown ever to strike the region, operators in the prolific shale basin are sharing new numbers on how much production they were forced to curtail.
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Oil and gas producers in the southern US suffered from a historic disruption to their operations, but analysts say the effects will be short lived compared to what may be in store for downstream operators.
