The Oil World’s Ongoing Impairments
Either way, this has thrown a spanner in the works of the giant, multi-billion oil and gas projects that were announced over the past two years as the energy world began to wake up from its post-2015 price crash investment hibernation. Further impairments were made in April 2020 when the Q1 finan ...Carving out a new identity for oil and gas
As the coronavirus crisis wreaks havoc across the globe, no industry has been safe from its effects. Oil and gas are no exception. April 20 th , 2020 was the first day in history where oil recorded negative prices . Since the beginning of the pandemic there has been a loss of one third of total de ...The (New) Force Behind Upstream Asset Buys
In times of crisis, oil and gas company default to two things: staff layoffs and asset sales. Factor in the strengthening climate change argument that is changing the core strategies of energy supermajors, the idea of buying a (potentially distressed) oil or gas asset is now quite unappealing, no ...The State Of The Industry: Q1 2020 Financials
As the Covid-19 slowly but surely eases, the oil and gas industry has released its financial results for Q1 2020. As it were, the Q1 2020 financial results from the five oil supermajors paint a mixed picture. Reducing dividends were a common denominator across the board in the industry, with Nor ...Oil price plunge wallops New Mexico
BY KEVIN ROBINSON-AVILA / Albuquerque JOURNAL STAFF WRITER Published: Monday, March 9th, 2020 at 10:02pm Copyright © 2020 Albuquerque Journal New Mexico's oil boom could soon turn to bust after world prices for crude crashed on Monday. The price for U.S. benchmark West Texas Intermediate b ...Wrapping Up The Decade - Q419 Financials Of Oil Majors
For ExxonMobil, revenue and net profits were both down by 5%, with the company blaming the ‘tough environment' and depressed margins for its oil, gas, refining and chemicals businesses that will spill into 2020. Although the French company was also affected by slumping natural gas prices, along w ...Current US Drilling Trends and Future Oil Production
Looking at the data of active US oil rigs available from Baker Hughes – which is taken as a proxy for the level of upstream activity in the country – and the US crude production numbers from the EIA shows an evident lag between the two indicators. Between December 2016 and December 2017, when the ...Q319 Financials: Weaker Oil Prices, Weakened Profits
Changing nature of non-OPEC supply types may be affecting the crude oil futures marketChanges in the oil investment and production cycle may be affecting trading dynamics for West Texas Intermediate (WTI) and Brent crude oil futures contracts. Similar research from the U.S. Commodity Futures Trad ...BP Exits Alaska - An End of an Era
After over 60 years of operating in the frigid but productive wilderness of Alaska, oil supermajor BP has decided to call it quits. Once home to the largest crude oil field in America, BP's departure from Alaska is not a surprise but a trend of things to come. What Hilcorp purchases from BP incl ...The World’s Top 10 Offshore Oil & Gas Projects
The Gulf of Mexico Keeps Drawing Interest
Of that (relatively large) portion, a fraction was leased in the recent US Gulf of Mexico Lease Sales 253. The results of the US Gulf of Mexico Lease Sales 253 shows that the industry is cautiously optimistic that this won't happen. Main Bids for US Gulf of Mexico Lease Sale 253 FMS awarded 8-figure North Sea contract
FMS, a leading independent supplier of mooring equipment to the global oil and gas industry, has secured a three-year contract with BP for the provision of mooring equipment for its North Sea operations. Established in 2009, Aberdeen-based FMS will commence the contract in July 2019. Steven Brown ...The State of the Industry: Q2 2019
In the August 2019 Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts relatively flat crude oil prices for the remainder of 2019 and through 2020 and a balanced global oil market in 2019 followed by modest inventory builds in 2020 as production growth outp ...The Global Shutdown Turnaround Industry Forum
It is more important than ever to have the skills and strategies in place for a turnaround that meets budget and schedule. A plant shutdown that goes off track cannot only break your maintenance budget, but can have a huge impact on your production targets. Who should Attend S ...Amsterdam NH NL 28 Nov 2019
Shell Eclipses ExxonMobil Once Again
Weaker refining margins and lower crude prices were cited as a slight drag on performance, but Shell's acquisition of BG Group is paying dividends as strong natural gas performance contributed to the strong profits. Unlike ExxonMobil and Chevron, Shell has only dipped its toes in the Permian, pre ...
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