Management
With the Vaca Muerta home to some of the world’s most-productive wells, and the Permian still going strong, if increasingly gassier, Rystad sees shale as resilient.
Changgui Xu will receive the 2026 Individual Distinguished Award, and CNOOC will receive the 2026 Institutional Distinguished Award.
Wafik Beydoun will receive the 2026 Individual Distinguished Award, and Brava Energia will receive the 2026 Institutional Award.
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Putting together the billions of dollars needed to develop deepwater finds has become tougher, but when the discoveries are huge, companies will make every effort to find a way to tap what may be a cheap source of oil. -
For the offshore sector, the collapse in oil demand and prices came just as the market was beginning to look up. Now many companies are focused on survival. This article discusses how various market segments, regions, and companies are faring in “the new reality.”
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The US crude inventory grew by 74 million bbl since 13 March when the US declared a national emergency in response to COVID-19.
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Rystad Energy estimates show demand will be at its lowest in April before moving back up again in May.
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Tubular steelmaker Vallourec is latest to join reductions in workforce.
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On 20 April, a historic drop of oil prices occurred. WTI futures contract dove into negative territory for the first time ever.
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The chapter 11 filing comes as record-low crude prices and excess supply have impacted operations across the industry. About 2,500 jobs could be at stake.
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The deferments are the latest actions Shell has taken in response to record low crude prices.
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While many shale producers are racing to cut costs by removing crews from the field, ExxonMobil and Chevron stood out as maintaining large numbers of fracturing crews.
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The announcement comes as Aker BP has stopped all nonsanctioned projects. The remaining two Phase 2 wells will come on stream in 2021.
