Limited risk to oil majors’ investments from energy transition in medium term #OilmanNEWS Oil and Gas News Upstream 

Limited Risk to Oil Majors’ Investments From Energy Transition in Medium Term

Major oil and gas companies are increasingly highlighting the alignment of their corporate strategies with climate change goals. They are also pursuing major production growth projects, but the value risk to these investments from the energy transition is limited, according to GlobalData, a leading data and analytics company. The company’s latest analysis shows that planned and announced projects from the six… Read More
Oil prices rise as OPEC production declines #OilmanNEWS Alex Mills Contributors Oil and Gas News Upstream 

Oil Prices Rise as OPEC Production Declines

The price of crude oil continued its recovery last week on news of a reduction in oil production worldwide and positive economic news. The Organization of Petroleum Exporting Countries (OPEC) released its monthly production report on Tuesday revealing a decline of 797,000 barrels per day (b/d) in January to 30.81 million b/d, which is just below its projections for oil… Read More
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Shell leads global new-build upstream capex outlook by 2025 #OilmanNEWS Oil and Gas News Upstream 

Shell Leads Global New-build Capex Outlook on Planned and Announced Upstream Projects to 2025

A total new-build capital expenditure (capex) of US$846bn is expected to be spent globally on planned and announced upstream projects from 2019 to 2025. Royal Dutch Shell Plc leads among all oil and gas companies and is expected to spend US$54.6bn on upcoming upstream projects during the forecast period, according to GlobalData, a leading data and analytics company. The company’s… Read More
#OilmanNEWS Oil and Gas News Texas Upstream 

Trendsetter Engineering Completes Delivery of Production Equipment for Noble Energy Leviathan Project

Houston, TX – Trendsetter Engineering has successfully completed the design and build of subsea production equipment for Noble Energy’s Leviathan Project, a large natural gas field development in the Eastern Mediterranean Sea off the coast of Israel, capping off over two years of effort. “This project has been a job well done by all those who contributed from Trendsetter and… Read More
FPSO Market to hit $30 bn by 2025 #OilmanNEWS Oil and Gas News Upstream 

FPSO Market to Hit $30 Billion by 2025

The FPSO market size is anticipated to surpass USD 30 Billion by 2025 and is set to witness vigorous growth on account of shifting trends toward offshore exploration & production driven by depleting onshore oil & gas reserves. Development challenges including excessive costs, material transportation, environmental conditions and decommissioning associated with fixed infrastructures will further shift the industry focus toward the… Read More
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Upstream oil and gas M&A and capital raising values totaled $47.9bn in Q4 2018 #OilmanNEWS Oil and Gas News Upstream 

Upstream Oil and Gas M&A and Capital Raising Values Totaled $47.9 Billion in Q4 2018

A total of 305 deals with a combined value of US$47.9bn were registered in the upstream oil and gas industry in Q4 2018, according to GlobalData, a leading data and analytics company. Of the total value, US$27.3bn was registered in mergers and acquisitions (M&A) in Q4 2018, representing a significant decrease of 41 percent from the US$46.2bn in M&A deals… Read More
Tie-backs the most preferred profitable option for future developments in US Gulf of Mexico 2018 May-June Press Release Upstream 

Tie-backs the Most Preferred Profitable Option for Future Developments in US Gulf of Mexico

In the deepwater Gulf of Mexico (GoM), the existing pipeline and platform infrastructure have made tie-back opportunities a preferred way to optimize cost and commercialize discoveries, according to GlobalData, a leading data and analytics company. An average daily production of 0.66 million barrels of oil equivalent (boe) is expected to be added to the US oil supply by 2023, from… Read More
C-Innovation Announces New Three-year Subsea Construction Contract with BP 2018 March-April Louisiana Press Release Upstream 

C-Innovation Announces New Three-year Subsea Construction Contract with BP

HOUSTON – April 5, 2018 – C-Innovation, LLC (C-I), an a?liate of Edison Chouest Offshore (ECO) and its family of companies, has secured a three-year contract with BP Exploration & Production, Inc. (BP), the largest energy investor in the deepwater Gulf of Mexico. The contract encompasses subsea construction, inspection, maintenance and repair (IMR) and logistics services in the Gulf of Mexico. With… Read More

Subsea Technology 2018 March-April Features Technology Upstream 

Subsea Technology

Artificial Intelligence and Robotics Pushing Boundaries in Offshore O&G To say times were different when the first Gulf oil well went into service is a bit of an understatement. The year was 1938, and the Superior-Pure State No. 1 well was the first of its kind—if not extremely risky. One mile offshore, the Creole, Louisiana well used very little metal… Read More
Offshore Drilling: Tread Carefully 2018 March-April Upstream 

Offshore Drilling: Tread Carefully

In early February the Trump Administration ended the ban on offshore drilling implemented by Barack Obama late in his term. It was intended to cement his legacy in the protection of the nation’s environment. He had little opposition in the face of the Deepwater Horizon disaster, which killed eleven workers on the offshore rig and spewed oil all along the… Read More
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