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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Barriers remain, but oil companies across the world are now in a position to reap big profits by capturing methane instead of flaring and venting it. -
Transocean rigs will start new contracts in Brazil in the second half of 2023.
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Development of these offshore fields carries a combined price tag net to Aker BP of $19 billion.
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Both companies are set to increase their investment in the Permian Basin in the new year.
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NewMed’s planned merger with Capricorn Energy may benefit the Israeli company’s Moroccan offshore activities considering that Capricorn had explored the same area in its previous business incarnation.
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This year has seen the highest amount of capacity sanctioned since 2010.
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ProPetro will provide committed services for a 3-year period to an undisclosed Permian Basin operator.
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The company also recently secured a long-term deal with ConocoPhillips for 5 mtpa of LNG.
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After Russia started a war in Ukraine, oil prices increased and brought in higher oil export revenues in the short run. Longer term, things are looking rougher.
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The deal awards the first concession in the Middle East for unconventional oil resources.
