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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The sale of Chevron’s interest in the IDD project is part of its cost-cutting measures. -
Santos is a step closer to the go-ahead for its Narrabri coal-seam gas project after gaining approval from a government planning commission. It is planning workover activities on existing wells and an appraisal drilling program.
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Shell's CEO said the Dutch supermajor has "too many layers" and that the move to downsize will help ensure its future. As a result, at least 9,000 people are expected to leave the oil and gas producer between now and 2022.
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Wood Mackenzie is bullish on the future of global LNG demand. Chief Analyst Simon Flowers outlines the risks ranging from spot prices, project economics, and environmental concerns.
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Brazil’s national oil company estimated a reduction of 22 to 38% in capital expenditures in E&P from its 2020–2024 strategic plan and expects to spend $6 billion through 2024 to decommission offshore platforms and wells and underwater gas pipelines.
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Equinor awarded multimillion-dollar contracts to Aker Solutions and Wood for work on the oil field in the Norwegian Continental Shelf. It said about 70% of the contracts for the development phase is expected to go to Norwegian companies.
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The two shale producers are calling it a “merger of equals” and will share management duties once the transaction closes. The combined company aims to become the fourth-largest producer of tight oil in the US.
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There is a lot of talk these days about transitions. There are technology transitions going on. There are demographic and cultural transitions in the workforce and in society at large. But the one I want to focus on in this column is the so-called “energy transition.”
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PowerChina said railway plans are moving forward under Argentina’s current administration and China could provide the financing for the $1.2–1.5 billion project.
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The author of The Prize talked recently about his newest book on the energy transition and what he sees as the most dynamic forces shaping the things to come.
