Author hkrichiedistribution
Offshore oil production is expected to hit a peak in 2020 before joining the shale industry in a slowdown that could dramatically rewrite market supply predictions. A report by analysts at Sanford C. Bernstein & Co. sees projects in the Gulf of Mexico and off of South America significantly boosting output next year. After that,
Maersk Drilling has entered a contract with BG International Ltd., a subsidiary of Shell, for work offshore Trinidad and Tobago on a two-well development project for the semi-submersible rig Mærsk Developer. The contract has an estimated duration of 171 days and is expected to commence in Q1 2020. The value of the firm contract is
The International Energy Agency’s annual report into fuel supply and demand shows a pickup in the rate of growth for wind and solar power. But that’s not enough to curtail greenhouse gas pollution, which is on track to grow through 2040. The findings are a blow to the international effort to rein in climate change
Rockies LNG Partners, a group of Canadian natural gas drillers seeking new markets for their production, is considering building an export project on barges floating off the coast of British Columbia. While no decisions have been made, the group sees a floating liquefied natural gas facility as a less-expensive option that also would have a
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and group CEO of ADNOC, called on the oil and gas industry to modernize in response to disruptions on multiple levels and a fast-evolving energy landscape. H.E. Dr. Al Jaber was speaking at the opening of the 35th edition of the Abu Dhabi International
Schlumberger signed a memorandum of understanding with ADNOC to support its In-Country Value (ICV) Program, which is designed to catalyze socio-economic development, improve knowledge-transfer and generate jobs for UAE nationals. Hot Tip Looking for your next job? Register and build a detailed profile on Oil and Gas People so recruiters can find you. Apply for
Oxy pledged to slash spending by 40% next year after quarterly profit fell short of forecasts due in part to the oil explorer’s $37 billion takeover of Anadarko. Shale drilling in the U.S. Permian basin will account for the biggest chunk of cuts as the company merges duplicate operations. Still, overall output will increase by
Our Nation’s Energy Future (ONE Future), a coalition of natural gas companies, announced today, at the 2019 Natural Gas STAR & Methane Challenge Workshop, its annual reporting of methane intensity numbers. Using uniform, EPA-approved reporting protocols, the coalition registered a 2018 methane intensity number of 0.326%, a decrease of 41% from its 2017 number of
Chesapeake Energy, the company that was once the epitome of America’s shale-gas fortunes, is warning it may not be able to outlast low fuel prices. Reflecting growing pain across the energy sector, the Oklahoma-based company’s shares and bonds tumbled Tuesday after it said it may not be viable as a “going concern” if low oil
Norwegian energy major Equinor and its partners have found oil and gas at the Echino South prospect near the Fram field in the North Sea, the company said on Wednesday. Recoverable resources are estimated at between 38 million and 100 million barrels of oil equivalent, adding considerably to the area’s resource base, it added. “We