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 merger will effectively end the 86-year run of UK independent oil producer Premier Oil and give rise to one of the largest companies operating in the North Sea region. -
The acquisition of Weir’s lines of pumps, consumable parts, wellhead, and pressure-control products expands Caterpillar’s well-service capabilities.
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The latest updates on the North American shale sector’s efforts to consolidate and restructure.
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Petrobras will sell its stakes in 27 onshore exploration and production concessions located in Espírito Santo, called the Cricaré Cluster, to Karavan SPE Cricaré SA, a specific-purpose entity (SPE), for $155 million.
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The sale of Chevron’s interest in the IDD project is part of its cost-cutting measures.
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Shell's CEO said the Dutch supermajor has "too many layers" and that the move to downsize will help ensure its future. As a result, at least 9,000 people are expected to leave the oil and gas producer between now and 2022.
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Wood Mackenzie is bullish on the future of global LNG demand. Chief Analyst Simon Flowers outlines the risks ranging from spot prices, project economics, and environmental concerns.
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Brazil’s national oil company estimated a reduction of 22 to 38% in capital expenditures in E&P from its 2020–2024 strategic plan and expects to spend $6 billion through 2024 to decommission offshore platforms and wells and underwater gas pipelines.
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The two shale producers are calling it a “merger of equals” and will share management duties once the transaction closes. The combined company aims to become the fourth-largest producer of tight oil in the US.
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PowerChina said railway plans are moving forward under Argentina’s current administration and China could provide the financing for the $1.2–1.5 billion project.
