Asset Management
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.
Alongside the new subsea awards, Equinor strengthened its position in the 400-million-bbl Bay du Nord development by acquiring BP’s interest in the project.
A new licensing deal with ZL Chemicals will make Chevron’s unconventional EOR technology available to other tight-oil producers.
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Schlumberger has won a $480-million contract to drill 96 oil wells in southern Iraq for the country’s Basra Oil Company and for ExxonMobil, which operates the giant West Qurna-1 field with partners from Iraq, Japan, Indonesia, and China. West Qurna-1 is one of the world’s largest oil fields. -
The world's largest oil company has taken its lumps from 2020 and is ready to look forward to higher oil demand and the coming of a hydrogen market.
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The sale of the minority stake is part of its larger 2021 program to raise an average of $4 billion annually by shedding noncore holdings.
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Recent decisions by US market regulators reflect growing pressure on the largest US oil producers to back up emissions targets with more detailed strategies through disclosures.
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As clean energy technology gains ground, a new energy security concern is taking center stage. Where once national security officials watched oil supplies, they are now tracking the production of minerals such as cobalt, indium, and neodymium used in the manufacturing of batteries, solar panels, and wind turbines.
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ExxonMobil submitted a proposal to Colombian authorities to develop a hydraulic fracturing pilot project in the Magdalena Basin. Colombia wants to drastically raise its declining reserves-to-production ratio by tapping into shale.
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The Energy Council, a London-based networking platform, has released a survey of its 100,000 members suggesting that the finance and investment community has money and an appetite to continue to fund E&P exploration, particularly in gas.
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The NeoLith pilot plant is on track to begin operations before the end of the year.
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As the saying goes, the future is now. This is certainly the case offshore Norway, which represents one of the industry’s most influential test beds for impactful innovation.
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The Mexican state oil company believes it has found a new oil field on par with past billion-bbl finds.
