Asset Management
The London-based supermajor is stepping back from startup investing as it seeks to focus capital on its oil and gas business.
After a record year for LNG project approvals in 2025, multiyear repairs to war-damaged liquefaction facilities in Qatar and the UAE threaten to slow the growth of global LNG capacity.
The declaration builds on a memorandum of understanding the partners signed with Egypt in May to process Block 10 gas at the country’s LNG export and domestic gas facilities.
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Westwood Global Energy’s analysis looks at production, cost, and revenue estimates in the UK and Norway, should oil prices remain low. The research group also provided an outlook on drilling activity. -
Energy research groups Wood Mackenzie and Rystad Energy say improvements in operations costs since the last downturn 5–6 years ago have made it difficult for companies to make further reductions amid the current drop in demand.
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Results of the survey will provide support for the UK’s initiatives to help businesses affected by the industry downturn and the COVID-19 pandemic.
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ExxonMobil and Halliburton made additional cuts in spending and personnel.
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Golden parachutes typically pay executives big money if they are fired without cause. Whiting Petroleum executives found a way to collect theirs for staying on board after the company they led filed for bankruptcy.
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UK North Sea oil and gas production is set to be maintained at normal levels despite the industry moving to "minimal manning" of offshore facilities in the face of the COVID-19 pandemic, trade body Oil and Gas UK's health and safety director, Trevor Stapleton, said.
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Amid continued health and travel concerns, the OTC Board of Directors felt this decision was the most feasible and responsible.
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The drop in gas prices, although greater than forecast, will not be to the same extent as oil prices.
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Most history-matching studies have fixed resources—that is, the team of engineers and geoscientists is predetermined. Moreover, the deadlines are always very strict. This constrained scenario often leads to an unfortunate result: The quality of the study suffers.
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The industry increasingly relies on forecasts from reservoir models for reservoir management and decision making. However, because forecasts from reservoir models carry large uncertainties, calibrating them as soon as data come in is crucial.
