Asset Management
Fervo Energy and Vallourec have signed a 5‑year supply agreement to support large‑scale deployment of next‑generation geothermal across the US, establishing a fully domestic supply chain for geothermal well components.
War‑related infrastructure damage is beginning to influence global energy supply chains in ways that could reshape project development and capacity growth.
Sulzer and JSIL are teaming up to provide the service for oil and gas, power generation, and industrial operations.
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TechnipFMC and McPhy signed a memorandum of understanding to work together on the development and project implementation of hydrogen technology. Separately, McPhy and Chart Industries also signed a memorandum to scale up hydrogen projects across various markets. -
Deloitte discusses the “great compression” of the oil and gas industry in which companies’ room to maneuver is restricted. How can the industry avoid a talent gap and stop an organizational challenge from becoming a precarious business problem?
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Forty-four percent of oil production and 30% of natural gas production remain shut in as operators return workers to offshore platforms. Production from undamaged facilities are being brought back online once all standard checks are completed. Facilities with damage may take longer to bring back up.
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The majority of energy firms surveyed by the Federal Reserve Bank don’t expect the business environment to significantly improve until 2022 or 2023.
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Chevron is initiating its layoffs of up to 15% of its global workforce of 45,000 first announced in late May by asking employees to reapply for positions. It closed its $4.1-billion acquisition of Noble Energy this week in which it gained 2,200 employees.
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The deal includes Sandvik’s exploration rigs, consumables, production stock, and selected trademarks and patents.
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Hurricane Delta leads to shut-ins of 92% oil and 60% gas production in GOM as landfall is expected today.
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GOM production shut-ins increased to 80% of the oil and 49% of natural gas. Hurricane Delta weakened from a category 4 storm to a category 2 storm on Wednesday and is expected reach the US Gulf later in the week.
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The merger will effectively end the 86-year run of UK independent oil producer Premier Oil and give rise to one of the largest companies operating in the North Sea region.
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The acquisition of Weir’s lines of pumps, consumable parts, wellhead, and pressure-control products expands Caterpillar’s well-service capabilities.
