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.
-
Supermajor announces actions to achieve net-zero ambition and reshape business. It also noted that it will not seek to explore in countries where it does not already have upstream activities. -
Citing impacts from COVID-19, Noble Corp. is entering into a prearranged agreement with its bondholders that will give it a fresh start with a new line of credit.
-
Saudi Aramco has suspended the contract for the Seadrill co-owned jackup drilling rig for up to 1 year.
-
Brazilian oil and gas company Petrobras has reached a production record on Búzios field located in the Santos Basin pre-salt offshore Brazil.
-
Malaysian oil company Petronas has hired Maersk Drilling’s rig Maersk Developer for a one-well exploration campaign off the coast of Suriname.
-
Petrobras started production of oil and natural gas from the shared deposit of Atapu, through platform P-70, in the eastern portion of the Santos Basin pre-salt, near the Búzios field offshore Brazil.
-
Italy’s Edison has cut $284 million from the sale of its E&P business to Energean after excluding Algerian and Norwegian assets from the deal.
-
In 2004, US oil production was in decline, Facebook did not exist, and attitudes toward climate change were in flux. In years since, what has happened—and what’s important for the oil and gas industry of tomorrow?
-
Shell and Chevron lead the pack in a slew of Q2 losses with $18.1 billion and $8.3 billion, respectively. ExxonMobil, ConocoPhillips, Royal Dutch Shell, Petrobras, and Repsol also posted losses. The tally of these global majors’ losses in a single quarter tops $30 billion.
-
The country’s once-thriving railway system has skidded to a stall, falling victim to low crude-oil prices, reduced demand, and government-imposed oil production cuts.
