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 Gulf of Mexico E&P exited its first bankruptcy quickly with a strategy that included the acquisition of Noble Energy’s GOM assets, which increased its production volumes 25% when the WTI approached $80/bbl. Fieldwood’s financial woes in today’s economics may be tougher to overcome. -
ExxonMobil is reluctant to join other big oil companies writing down the value of their reserves. It could chop its reserves by 20%, but it has not made a final decision.
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Supermajor announces actions to achieve net-zero ambition and reshape business. It also noted that it will not seek to explore in countries where it does not already have upstream activities.
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The Pennsylvania-based producer will leave Louisiana where profiting from tight-gas fields has proven difficult and focus on its legacy assets in the Marcellus Shale.
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Citing impacts from COVID-19, Noble Corp. is entering into a prearranged agreement with its bondholders that will give it a fresh start with a new line of credit.
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Petrobras started production of oil and natural gas from the shared deposit of Atapu, through platform P-70, in the eastern portion of the Santos Basin pre-salt, near the Búzios field offshore Brazil.
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Saudi Aramco has suspended the contract for the Seadrill co-owned jackup drilling rig for up to 1 year.
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Brazilian oil and gas company Petrobras has reached a production record on Búzios field located in the Santos Basin pre-salt offshore Brazil.
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Malaysian oil company Petronas has hired Maersk Drilling’s rig Maersk Developer for a one-well exploration campaign off the coast of Suriname.
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In 2004, US oil production was in decline, Facebook did not exist, and attitudes toward climate change were in flux. In years since, what has happened—and what’s important for the oil and gas industry of tomorrow?
