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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Downturns offer you a choice: Panic and shut down all but breathing or make use of the opportunities that desperation has handed you. A mountain of mistakes is a gold mine to those willing to spend the time in assessment mode. -
Service companies are using the latest generation of additive manufacturing technology to print out steel components for big ticket downhole tools. There is great potential for the technology to drive down equipment costs and improve performance.
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Merger and acquisition activity has been limited since prices started to fall in 2014. But there are signs that M&A activity may be building, and oil company management teams should think about which deal strategies they should pursue.
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A new multilayer boundary‑detection service has been introduced to resolve the geological uncertainty associated with horizontal wells in Bohai Bay. Geosteering and real time reservoir characterization were used to reduce the uncertainty.
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Offshore exploration will be slow to come back as companies have delayed billions in projects through 2020. Exploration projects also must complete for funds with brownfields developments like EOR that potentially provide a shorter time to show a return.
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As an example of an open system, the oil and gas market is a function of several external forces. Free market supply and demand may not yield a sustainable equilibrium price, but the deferral of capital projects will result in a lack of global supply in just a few years.
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The renewable energy sector is showing strong global growth, especially wind and solar power, but oil shows no sign of losing market share in the global energy mix.
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The next couple of years for the oil and gas industry are likely to be defined by mediocre prices. “It is going to take a long time to get back to the good old days," said Atul Arya, senior vice president of IHS Energy, during OTC.
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Of all the attention generated over the opening of the Mexican oil and gas sector to the outside world, one consideration has been largely left out of the discussion: What does it all mean for service companies?
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For deepwater development, panelists at OTC emphasized the need for scalable technology, the standardization and simplification of projects, patient capital investment in innovation, greater collaboration, and new perspectives coming from outside the industry.
