Asset Management
The deal adds over 1,000 potential drilling locations and almost doubles oil production for Houston-based Magnolia.
The deal is the largest acquisition in Mitsubishi Corp.'s history and adds one of North America's leading shale gas assets to its portfolio.
The sale for $1.8 billion of Solenergi Power, the holding company for Sprng, which develops and operates solar and wind projects across India, follows other realignment actions by the supermajor.
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Baker Hughes, a GE company, (BHGE) and C3.ai announced a joint venture agreement that brings together BHGE’s fullstream oil and gas expertise with C3.ai’s unique artificial-intelligence software suite to deliver digital transformation technologies and drive productivity for the oil and gas industry. -
Phase 1 production from the deepwater US Gulf of Mexico field is expected to reach 30,000 BOPD. The field contains an estimated 5 billion bbl of oil in place.
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Saudi Aramco awarded a contract* to McDermott International for engineering, procurement, construction, and installation (EPCI) services in the Marjan and Zuluf fields, offshore Saudi Arabia.
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Wood secured two new contracts from Equinor for onshore and offshore facilities in Norway.
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New analysis from Rystad Energy shows service companies are beginning to raise prices after seeing a significant drop following the oil price downturn. Pricing power is projected to keep rising in 2020 as the service industry sees more demand across the supply chain.
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Reports 20 June that Iran shot down a US Navy drone over the Strait of Hormuz—the global oil market’s most critical transit point—exacerbated tensions in the region following a pair of attacks on oil tankers in the Gulf of Oman just a week earlier.
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Ranking places US ahead of Saudi Arabia and Russia.
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This new development is the first to recover commercial quantities of oil in the UK from reservoirs that are generally considered non-productive.
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Trade tensions and economic sentiment take a toll.
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Cost inflation and volatile commodity prices pose threats to sustained financial improvements.
