- Free Downloads
SBM Offshore, a Dutch provider of floating oil and gas production vessels, raised its core earnings guidance on Aug. 9 citing clients slowly spending more on deepsea projects.
From weak, sub-$50/bbl oil prices to competition with U.S. shale and headline-grabbing frontier regions such as offshore Guyana—brimming with recoverable resources—this might not seem an ideal time to sell deepwater assets.
Italy’s Saipem is likely to get a subcontractor role in a new project to produce LNG in the Arctic by Russia’s Novatek, one of Novatek’s partners said.
Tullow Oil reported a deeper-than-expected operating loss for the first half as lower oil price expectations forced it to book hefty impairment charges, but the market welcomed news it had raised a cost-saving target by $150 million.
General Electric Co. on July 3 completed its buyout of Baker Hughes Inc., merging the company with its oil and gas equipment and services operations to create the world’s second-largest oilfield service provider by revenue.
Libra, a giant oil field located in Brazil’s presalt area, will boost many business opportunities over the next years.
The cost of decommissioning the U.K.’s offshore facilities has been tagged at $77.4 billion by the UK Oil & Gas Authority (OGA). Even when applying the shared industry goal of reducing costs by a minimum of 35%, this leaves a tally of $50.6 billion.
Oil and gas companies have taken some stalled projects off the shelves, pushing the number of developments reaching final investment decisions so far in 2017 above that of last year, according to Norway-based energy consulting firm, Rystad Energy.
Operational efficiency is the watchword for E&P within the current low oil price scenario, and at the heart of this is innovation. That’s why Statoil established Statoil Technology Invest (STI) to support small and medium enterprises with new technologies.
There is a wildcard among the world’s oil market players that some believe could be a game-changer, throwing a production curveball.
Anadarko Petroleum Corp. reported a bigger-than-expected quarterly loss this month, as expenses rose about 53%, failing to offset gains from higher crude prices.
Oil services company Subsea 7 reported first-quarter margins that were better than most investors had expected and upgraded its full-year profitability forecast.