Asset Management
With $9.6 billion in assets in the market, the focus is shifting from who is exiting Southeast Asia to who is positioning for entry through acquisition, according to Rystad Energy.
Despite significant progress in capturing associated gas for domestic use, Iraq remains the world’s third-largest gas-flaring country as it aims for higher oil and gas production targets.
Transaction adds 90,000 net acres and 68,000 BOE/D of production as Crescent expands its South Texas footprint.
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The calls for change and transition in the industry are ubiquitous and emanating from within and outside of the industry. -
Shell and Chevron lead the pack in a slew of Q2 losses with $18.1 billion and $8.3 billion, respectively. ExxonMobil, ConocoPhillips, Royal Dutch Shell, Petrobras, and Repsol also posted losses. The tally of these global majors’ losses in a single quarter tops $30 billion.
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Providing a kick start for nascent companies developing clean energy technologies, Halliburton launched its innovation lab, Halliburton Labs. Its first participant is a nanomaterials company developing fireproofing and insulation technology.
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Vår Energi is looking to extract another 136 million BOE from the Balder Field. Production is anticipated in 2H 2022.
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The country’s once-thriving railway system has skidded to a stall, falling victim to low crude-oil prices, reduced demand, and government-imposed oil production cuts.
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The offshore drilling contractor’s latest effort to curb emissions relies on technology developed during the US space shuttle program and could become commercial by 2022.
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Just 3 years after its landmark merger, GE has announced that in the next 3 years it plans to sell of all its remaining shares in Baker Hughes.
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Crude oil and natural gas prices may recover moving into 2021, albeit at different rates brought on by a variety of market dynamics. Geopolitics and the potential for another wave of COVID-19 cases and resulting lockdowns still pose a threat to the industry.
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Four Equinor insiders are short-listed to succeed the current chief executive who is expected to step down from the Norwegian oil and gas company later this year.
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Shale producers proved they could pump out record volumes of oil by drilling horizontal wells and then fracturing them intensively. Now the industry needs to find buyers for many wells and acreage with hard-to-determine values.
