Business/economics
Equatorial Guinea government formalizes deal that paves the way for Block I development.
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.
-
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. -
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.
-
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.
-
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.
-
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.
-
The research will focus on potential policy changes that could help increase oil and gas production from deepwater infrastructure already in place in the Gulf of Mexico to reduce stranded assets.
-
Saudi energy minister warns speculators not to bet against the OPEC+ alliance.
-
Seadrill is seeking options to restructure its $7.3-billion debt. The offshore driller previously emerged from Chapter 11 bankruptcy protection in 2018.
-
Personnel are returning to platforms in the Gulf of Mexico after Hurricane Sally was downgraded to a tropical depression late Wednesday, but the threat of another major hurricane remains as a tropical storm may form in the Gulf of Mexico today.
-
A former chief operating officer at Exterran Corp. will take the helm of the Houston-based oilfield services company in October.
