Mar 2020

The March 2020 issue of Petroleum Economist is out now!

The February 2020 issue of Petroleum Economist is out now!

European authorities are keen to try to move markets away from the dollar

The trading house expands its E&P footprint, but does not want to go down the ‘mini-major’ route

Brazilian NOC’s commitment to the offshore province and portfolio overhaul is helping offset unstable commodity prices

Agreement with joint venture explorer boosts Somalia’s post-conflict effort to attract IOCs to its long-delayed licensing round

CEO Antonio Pietri discusses his lighthouse pilot for hybrid modelling capabilities

Few people dispute that CO₂ emissions must decrease. But views of CCUS range from it being the saviour of the oil and gas industry to a cynical attempt to keep hydrocarbons flowing at any cost. Either way, it is urgently needed

US fossil energy secretary Steven Winberg has faith that technological developments will be enough to mitigate CO₂ emissions and provide hydrocarbons with a long-term future

Silicon Valley entrepreneur is bringing artificial intelligence to the oil and gas industry

While the potential for a global pandemic that cripples the world economy and the oil price remains, thoughts are beginning to turn to what happens post-coronavirus

The cartel may need to take significant action to help balance the oil market, particularly as the potential for a worldwide pandemic remains

State-controlled Mid-East Gulf oil and gas firms are evolving in a changing world

Uncertainties over the economic fallout of the coronavirus epidemic a harbinger of more short-term volatility

Brent price falls from $45/bl to $25/bl in early trade, before partial recovery to $36/bl at 10am, as production surge threatened amid weak demand

Global oil market turmoil caused by a supply war between Saudi Arabia and Russia threatens political stability—just as the world should be coming together to combat Covid-19. So says the IEA, as it launches forecasts for annual growth to 2025.

Wide differences in strategy, breakeven prices and national finances all contributed to failure to agree production cuts in face of US shale competition and sagging demand

Riyadh’s plan to boost market share by unleashing a tidal wave of crude onto the Asian market would be a boon for local refiners as the region recovers from Covid-19

Using artificial intelligence to analyse what is happening subsurface could have a huge impact on fracking's productivity

Manama may seek to sell non-producing assets in order to mitigate the severe shock of falling oil prices, experts say

Electoral uncertainty is highlighting the dangers for new companies hoping to invest in the country’s offshore resources

Both offshore oil and onshore gas projects are progressing with the backing of several international firms

Plunging crude prices are bad news for US shale, with some producers set to be severely afflicted

Efficiency gains have streamlined operations at the world’s most exciting shale patch. But with the threat of a pandemic and ongoing oil price volatility, can production growth be sustained?

Water scarcity and a lack of transport infrastructure work against the recovery of gas from the shale field. Once overcome, its output may be better suited to displacing crude domestically than for LNG exports

The failure of multiple projects in Africa and depressed oil prices puts the company in ‘significant doubt’

Santos’ Moomba project will not suffer from the high abatement costs that are the largest obstacle to CCS adoption

China has not lost its interest in oil and gas assets around the South China Sea

The investment environment in Iraq is being affected by continued turmoil in domestic politics and the country’s battle with Covid-19

Question marks over Driftwood LNG project as would-be LNG exporter scrambles to service creditors

Mexican NOC faces near-impossible task of hitting ambitious upstream targets while maintaining capital discipline

CEE’s leading integrated oil and gas firm is putting petrochemicals at the centre of its near-term growth strategy

Sanctions, the oil price shock and the potential exit of Chevron multiply the country’s misery

Forecaster predicts that countries will take a managed approach, spreading the outbreak over many months

The exodus of international partners and the global gas glut raise doubts about the economic viability of an already challenged sector

The independent producer is the latest to announce reduced spending in the new price and demand environment

Economic uncertainty forces E&Ps to significantly revise down their capital budgets

A state guarantee for the bulk of the financing needed for a big pipeline project suggests Nigeria is serious about boosting domestic gas supplies

UK independent Enquest’s revised forecast for 2020 may be just six weeks removed from its previous guidance. But it is also a world away

A swift resolution to the blockade looks unlikely as fighting continues in Tripoli and the UN searches for a new mediator

Saudi heavyweight must achieve ambitious government pledge despite revenues feeling the squeeze

Two pieces of good news in the UK and Norway are buried by cost-cutting and depressed prices

Industry downturn forecast as wave of E&P companies forced to dramatically cut capex

Central Asia’s third-largest gas producer is restructuring its energy mix to solve supply shortages

The recent drop in oil prices will hit Nigeria hard, making a big dent in government revenues and threatening the viability of upstream projects

Worsening economic conditions set to slash oil production growth in the region

Incoming operators face several challenges when taking over an asset, including managing the transition, improving performance, and capturing value. These principles can guide the way

Depressed oil prices are forcing large-cap producers to roll back spending. But will they continue to try to shed non-core assets?

Plummeting oil prices and stagnant production have thrown government finances into chaos

Participants listening to yesterday’s webcast on waste heat recovery systems put their questions to an expert from Turboden

The Canadian firm has rebranded and joined the US shale revolution. But the oil price crisis is raising doubts about whether recent acquisitions will be economically viable

Two analysts agree that crude oversupply will exhaust storage space in a matter of weeks

The Opec+ heavyweights underestimated Covid-19’s impact on demand. It may be too late for them to staunch the bleeding

The continent’s crude processors are playing catch-up following the introduction of IMO 2020 regulations on sulphur content in marine fuel

The industry's most comprehensive list of current and recent rounds for onshore and offshore licenses

Crucial government steps are needed to offset imminent financial distress caused by bottomed-out oil prices and a global health pandemic

Firms regard the ambitious climate change targets and renewables investments of their European rivals as largely cosmetic

A UK court’s rejection of Heathrow Airport’s expansion policy as invalid on climate change grounds has implications for major projects globally

Some of the most sophisticated UK investors are pushing for a faster energy transition than even the most ambitious promises of oil and gas majors

The energy transition faces dual challenges of an oil price crash and the coronavirus pandemic, with competitive pressure and disruptions to supply chains

Domestic oil sector in upheaval as producers forced to confront commodity price shock

The market share of challengers hits a landmark figure, but M&A could remake a hegemony, simply with different actors