Business/economics
After a decade and a half of declining production, Uzbekistan, ranked 15th worldwide in gas output, has been seeking foreign partners to revive and reverse the fortunes of its oil and gas industry.
While often associated with smaller discoveries, subsea tiebacks are playing a growing role in contributing to the broader energy mix.
The Houston-based enhanced geothermal developer scored $1.9 billion in an initial public offering, positioning it to expand projects in Utah and Nevada.
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The combined company will target the renewables market. Aker Solutions intends to spin off its wind development and its carbon capture technology businesses into two new companies, which will be part of its renewable energy group, Aker Horizons. -
US crude exports to China have decreased from peak levels in May and June, but Vortexa said there may be unique opportunities looking forward.
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Lease Sale 256 was originally set for August but was moved due to COVID-19’s impact on the oil and gas markets. Bids will be accepted by mail only due to the ongoing pandemic.
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The Mozambique LNG project expects to achieve financial close in Q3.
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The 18-month contract is for work in the Al-Nasiriyah oil field in southern Iraq’s Dhi Qar province.
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For an industry once fueled by the law of supply and demand, the new economic reality has brought new rules.
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Pemex and Talos Energy have 120 days to decide how to share a massive offshore field that both companies claim they should operate. Failure to come to terms means the government will decide the matter.
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The drop in energy use caused by the coronavirus pandemic is not enough by itself to meet Paris climate ambitions, says DNV GL.
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The deal follows BP’s divestment of its global petrochemicals business in late June.
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Petrobras has taken a 65.3-billion Brazilian real ($11.2-billion) impairment on its exploration and production (E&P) assets, warning investors that changes in consumer behavior resulting from the coronavirus pandemic would likely be permanent.
