Business/economics
Nitzana will enable Israel to double gas exports to Egypt from the giant Leviathan gas field in the Eastern Mediterranean.
Nearly 90% of investment since 2019 has gone to replacing lost production, with $570 billion in spending projected for 2025.
Months of due diligence and evaluation following proposed $18.7 billion deal results in no deal to purchase Australian operator.
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The oil and gas industry, which had begun showing signs of recovery from a generational downturn, was brought to its knees by the COVID-19 pandemic in 2020. SPE’s technical directors reflect on the pandemic’s impacts and share their outlooks going forward in this annual roundup. -
Petrobras will sell the Rabo Branco field, part of the BT-SEAL-13 concession, to Energizzi Energias.
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The company will focus on renewables projects such as offshore wind farms and solar farms, gas solutions, production assets, and new energy solutions such as hydrogen and tidal energy.
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The deal seeks to add 151,000 acres to the Calgary-based oil company's portfolio for price of $465 million.
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Sentiments are clearly improving amongst the hard-hit oilfield service companies who all saw revenue grow in the fourth quarter of last year.
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A slew of new US regulations raise questions about the future of oil drilling on US government land, with reports of a moratorium on new leasing and permits as the administration considers major changes in the program.
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Supply chain companies have seen their profits squeezed since the E&P cost cuts of the previous downturn, and just as the industry could finally hope for better days, the COVID-19 pandemic caused the value of 2020’s awarded contracts to slump to a 16-year low of $446 billion.
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The $120 million per year, 5-year contracts will provide well-intervention services to Equinor’s fixed platforms.
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The Houston-based oil and gas company has expanded its footprint in the liquids-rich Permian by more than 550,000 acres.
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The two companies have collaborated since 2015 on various projects, but COVID-19 brought Velentium and Oasis Testing together for a unique purpose—to quickly ramp up the manufacturing capacity for critical, life-saving ventilators.
