Asset Management
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.
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.
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Barbara Burger says the key interest areas for the supermajor’s portfolio of startup investments remains unchanged despite a new industry downturn. However, the environment is tighter and the way in which deals are made has already seen notable change. -
Exploration is widely perceived as discretionary, even unwarranted. A report from Wood Mackenzie, however, presented a different scene. Only about half the supply needed to reach 2040 is guaranteed from fields already on stream, it said. The rest requires new capital investment and is up for grabs.
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The deal follows BP’s divestment of its global petrochemicals business in late June.
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While oil- and gas-related companies slash budgets and staff and operators pull back from production and exploration, the tax coffers of US local and state governments are shrinking fast and with hard repercussions.
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Hit by the pandemic, the oil market crash, and the transition to a low-carbon energy future, exploration companies are spending bare budgets on near-term production and high-impact exploration.
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McDermott’s restructuring comes 5 months after it filed for Chapter 11 protection. The company was struggling with debt since its 2018 acquisition of CB&I.
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Most crude exports coming out of the North Sea since March have been destined for Asia, where floating storage levels remain high.
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Approaches to carbon abatement using petroleum are discussed that have a strong chance to succeed in fulfilling technological and economic goals in reducing carbon.
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Nearly everything’s on the table as companies aim to shore up portfolios by curtailing investments and dumping low-priority assets.
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The Oil & Natural Gas Corporation (ONGC) has invited bids for partnership to raise production from 64 marginal fields that were given to the company by the government without bidding. As they are small in size, these fields are uneconomical for a larger company.
