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.
-
For years Canadian heavy-oil production exceeded the volumes pipelines could handle. -
TGS, with the support of TGS’ Russian partner DMNG, has completed its second phase of processing in the Russian Sea of Okhotsk.
-
Construction on Mozambique LNG stopped in April due to COVID-19, but Total continues work on the project even amid a $12 Billion shortfall. Financing for the Mozambique LNG project follows engineering contracts awarded by Total in the past few months.
-
Brazil’s Petrobras has found oil in an exploratory well located in the Sudoeste de Tartaruga Verde block, in the Campos Basin.
-
No gas or commercial reservoirs have been found in the first-ever exploration well off Lebanon’s coast, according to Energy Minister Raymond Ghajar and the Total exploration firm.
-
Thai energy company PTT Exploration and Production announced two deepwater oil discoveries in the Salina Basin, offshore Mexico.
-
The number of active natural gas rigs in the US fell further to 80 on 8 May. The number had dipped to 85 on 21 April, the lowest number since August 2016, according to the Baker Hughes rig count.
-
The oil market is likely facing the largest monthly drop in fracturing activity ever recorded in the US, according to Rystad Energy analysis.
-
US oil producers ExxonMobil and Chevron announced they are tightening output, for combined global shut-ins of 800,000 B/D, in response to plunging crude prices and shrinking fuel demand.
-
Environment/social/governance (ESG) represents the integration of human values into the financial value of investments. The energy industry that emerges from the COVID-19 pandemic will be different from the one that entered it.
