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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In its first response to the Russia-Saudi Arabia price war, the US government will purchase up to 78 million bbl of crude to protect domestic producers. -
Because offshore project lead times are longer than in shale, production is likely to come on line in 2–5 years when oil prices may be higher. But the number of FPSOs to be sanctioned this year may be cut by half.
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The shale industry could shoulder 65% of $100-billion 2020 global E&P spending cut. Can oilfield services providers afford to cut their fees further to prop up hard-hit operators?
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The prescribed treatment for market- and virus-induced oil price collapse is to quickly slow production growth. Two US shale companies moved swiftly to cut the pace of drilling and completions, but it is too soon to know if that will have any impact.
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The company announced both contract awards simultaneously. The new contract awards could be worth up to $800 million.
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Led by Texas and New Mexico, year-over-year crude output jumped by 11% according to the US Energy Information Administration. Going forward, new records will be set but at a slower pace.
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Because the greenfield can use existing infrastructure, the Norwegian operator says it will count as a low-carbon development.
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The Damietta LNG plant is expected online by June 2020. The plant will be owned by ENI, EGAS and EGPC.
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The first interdisciplinary oil and gas conference to be held in Saudi Arabia, the 12th International Petroleum Technology Conference, was the largest in its history in attendance. This features highlights of the panel and technical sessions, and an interview with Saudi Aramco CEO Amin Nasser.
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JPT interviewed Saudi Aramco President and Chief Executive Officer Amin Nasser during IPTC. He discussed the company’s outlook for the new year and the current state of the oil and gas industry.
