Asset Management
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.
The Seismos full-scale research center opens to industry, universities, and national laboratories, advancing acoustic sensing across upstream energy, pipelines, critical infrastructure, and national security.
The Society’s archive of technical papers, maps, figures, and geological data sets will be integrated into the GIX platform, enabling geoscientists to query AI agents about exploration opportunities within specific geographic regions while combining historical research with public data, proprietary information, and advanced analytics.
-
In its May 2020 Short-Term Energy Outlook, the US Energy Information Administration (EIA) forecast US-marketed natural gas production to decrease by 5% in 2020. Production is expected to average 94.3 Bcf/D in 2020, down from 99.2 Bcf/D in 2019. -
National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, said Wood Mackenzie.
-
Qatar Petroleum entered into a farm-in agreement with Total E&P to acquire a 45% participating interest in two blocks located in the Ivorian-Tano basin, offshore the Republic of Côte d’Ivoire.
-
McDermott’s restructuring comes 5 months after it filed for Chapter 11 protection. The company was struggling with debt since its 2018 acquisition of CB&I.
-
Most crude exports coming out of the North Sea since March have been destined for Asia, where floating storage levels remain high.
-
Approaches to carbon abatement using petroleum are discussed that have a strong chance to succeed in fulfilling technological and economic goals in reducing carbon.
-
Askeladd Vest is Phase 2 of the Snøhvit gas development, which is expected to see an FID this year.
-
Two of the biggest assets to suffer from the new valuation are in Australia. Shell’s QGC venture and its floating liquified natural gas facility, Prelude, have been reduced in value by up to $9 billion.
-
Denbury Resources needs enhanced debt reduction. The company that does enhanced oil recovery using carbon dioxide it produces and transports has skipped a payment to creditors while it seeks a deal that would reduce its debts.
-
The deal includes 15 global sites and over 1,700 staff expected to transfer to INEOS upon completion of the sale. The deal also follows BP’s announcement earlier in the month that it would cut 14% of its workforce.
