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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Not everybody suffers when US oil producers slash production. Among the beneficiaries could be US gas producers who will benefit because less oil production will mean a lot less gas on the US market. -
Exploration commitments are expected to dwindle in the current market environment.
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Subsea 7’s installation services contract is the latest Chevron award for its Anchor field project. First oil from the project is expected in 2024.
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Shell remains involved in the Salym Petroleum Development JV with Gazprom after dropping out of the planned Meretoyakhaneftegaz JV.
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Both platforms offshore assets were shut in following a leak in ExxonMobil's 100,000 B/D pipeline system.
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Reductions will begin next month and last until June. After that, major oil producers around the world plan to step down from the cuts in phases that extend to 2022.
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The firm said it will be “restructuring” to “right size its operations” for a slowing market without mentioning how that will affect its workforce. It also says its two major lines of business are worth less than previously estimated.
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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.
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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.
