Business/economics
Months of due diligence and evaluation following proposed $18.7 billion deal results in no deal to purchase Australian operator.
The deal between the Republic of the Congo and the Chinese oil and gas company aims to develop the Banga Kayo, Holmoni, and Cayo blocks and raise national oil output to 200,000 B/D by 2030.
The companies said they plan to start deploying digital twin technologies in Oman this year.
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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. -
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.
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The deal for 1 mtpa results in the planned initial phase of Port Arthur LNG plant being fully subscribed.
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The acquisition of Advance Energy Partners shows that private equity groups are successfully maintaining premium valuations for core assets.
