Business/economics
The deepest water depth project in Equinor’s portfolio, Raia aims to bring its gas onstream in 2028.
War-related damage to oil and gas facilities is expected to disrupt global supply chains for years, as backlogs for critical equipment continue to grow, Rystad Energy reports.
TotalEnergies will instead invest in the Rio Grande LNG plant, upstream conventional oil development in the US Gulf of Mexico, and shale-gas production.
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The confluence of a pandemic, a price war, and extreme weather sent the US production engine into reverse last year, marking the largest annual drop in output on record. New figures on the decline come as the market senses higher oil prices coming. -
Oil major boosts its initial offer for transmission assets.
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Saudi Arabia will keep its voluntary 1 million-barrel cut intact while Russia allowed a small production increase.
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ConocoPhillips, Pioneer view Exxon, Chevron as prime movers to bring investment back into the play.
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A new offshore service company has been created combining Baker Hughes’ subsea equipment operation and the drilling hardware made by MHWirth. The joint venture’s goal is to grow and go public.
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Oil boss tells CERAWeek attendees a healthy oil industry will push green energy investment.
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The US government is looking at the contractor’s books over possible sanctions violations.
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The $2.59-billion deal advances BP’s effort to divest $25 billion of its global proceeds by 2025.
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Since 2000, Brazilian Petrorecôncavo, which specializes in revitalizing mature onshore fields, has performed operations and project implementation services in most fields of the Remanso Cluster.
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The $533-million field has a production capacity of 27,000 BOE/D and estimated reserves of 1.2 billion BOE.
