Asset Management
Trafigura will purchase 100,000 metric tons of battery-grade lithium products under a decade-long take-or-pay contract valued at over $2 billion.
The Absheron gas field expansion will supply additional natural gas to Azerbaijan’s domestic market and support its export commitments to Turkey, allowing Baku to stay focused on meeting its gas export obligations to Europe.
A credible custody-transfer record depends on far more than the accuracy of a single meter. It is the product of an integrated measurement chain. While meter performance supports measurement-system integrity, commercial confidence also depends on traceability, governance, and authorization.
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As SPE members deal with challenging and uncertain times, they are reminded that there are a number of programs available to provide support and key resources. Read more to see which ones are useful to you and your career. -
With oil prices at historic lows and with COVID-19 supply chain disruptions, the time has come to evaluate supply chain and procurement strategies, sourcing techniques, and costs.
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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.
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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.
