Business/economics
Even as industry faces policy and tariff uncertainty, companies view spending on digital transformation as a driver of efficiency.
In lifting force majeure, TotalEnergies says it will restart construction on its Mozambique LNG project as soon as the government agrees to a revised budget and schedule that targets shipping first product in 2029.
A new Eni/Petronas venture is targeting 500,000 BOE/D in output from combined upstream portfolios across Malaysia and Indonesia.
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Equinor advances Irpa and Verdande field development projects closer to first oil with a raft of contract awards. -
An International Energy Forum report says oil and gas upstream capital expenditures increased to their highest level since 2014 but more is needed.
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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.
