Author Archives: Carla Sertin
Posted inExploration & Production, DRILLING & PRODUCTION

Brazil to lead oil production from projects in Americas in 2025

by Carla Sertin

In Brazil, Bacalhau, Itapu and Buzios V are expected to collectively contribute about 39% of the crude and condensate production in 2025

Brazil is expected to contribute about 48% or 1,350 thousand barrels per day (mbd) of Americas crude and condensate production in 2025 from planned and announced projects (new build projects, excluding the US L48), according to GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Americas Upstream Development Outlook, 2021–2025’, reveals that 1,164 mbd […]

Posted inExploration & Production

Oil rises on US production lag, Hurricane Ida impact and OPEC report

by Nishant Bhushan, oil markets analyst, Rystad Energy

Oil prices are starting the week with gains as a result of the persistent impact of Hurricane Ida on US production. The prospect of further bad weather and an expected demand revision by OPEC are also offering support

The impact of Hurricane Ida is lasting more than the market expected and as some oil production capacity remains shut this week, prices are rising on supply not being restored and therefore not reaching refineries that have restarted operations quicker than producers. The threat of more disruptions from extreme weather is also a cause of […]

Posted inDRILLING & PRODUCTION, Exploration & Production

Venezuelan heavy oil reserves to be stranded as international players divest

by Carla Sertin

Due to high risks and the unstable deteriorating economy in the country, international players no longer see an upside in Venezuelan projects, GlobalData says

Two international oil and gas players in Venezuela, TotalEnergies and Equinor, recently divested their respective 30.32% and 9.67% interest in the largest project, Petrocedeno, to the state-owned Petróleos de Venezuela S.A (PDVSA) company. According to GlobalData, this means that due to high risks and the unstable deteriorating economy in the country, international players no longer […]

Posted inExploration & Production

Three nations to account for majority working gas capacity additions by 2025

by Carla Sertin

Turkey is expected to be the third largest contributor to working gas capacity additions globally by 2025

Russia, China, and Turkey are expected to lead global working gas capacity additions, collectively contributing 54% of the total working gas capacity additions from planned and announced projects between 2021 and 2025, says GlobalData, a leading data and analytics company. The company’s report, ‘Global Capacity and Capital Expenditure Outlook for Underground Gas Storage to 2025’, […]

Posted inExploration & Production, DRILLING & PRODUCTION

Saudi Aramco reportedly considers opening $110bn project to investors

by Carla Sertin

Any deal would be a rare occasion where Saudi Aramco invites foreign investors into its upstream projects

Saudi Aramco is reportedly considering opening up the Jafurah unconventional gas field to foreign investors, according to anonymous sources cited by Bloomberg News. The company is planning to fund a $110 billion project which aims to diversify it away from oil sales. The anonymous sources noted that Saudi Aramco is working with an advisor to […]

Posted inNews

Aramco joins partnership to support transition to sustainable fuels

by Carla Sertin

Aramco has today signed Memorandums of Understanding (MoU) with P1 Racing Fuels and WRC Promoter GmbH, the commercial rights owner of the FIA World Rally Championship (WRC), to support the global motorsport series in its purpose-driven transition towards sustainable motorsport and mobility. In line with Aramco’s focus on sustainability and low-carbon fuels, the Company is […]

Posted inExploration & Production, DRILLING & PRODUCTION

NOC Libya resumes exports from Esidra and Ras Lanuf ports after shutdown

by Carla Sertin

NOC Chairman Mustafa Sanalla called on the government to provide 'special care and attention' to the national oil company, which has been impacted multiple times by unrest in the nation

Libya’s National Oil Corporation (NOC) has resumed crude exports in the Esidra and Ras Lanuf after a 24 hour shutdown starting on Thursday. While it delayed shipping, NOC Libya noted that “production from all fields was not reduced.” With production resumed, NOC Chairman Mustafa Sanalla said that “we will never be satisfied with the politicisation […]

Posted inNews

3D printing stainless steel now a reality for oil and gas

by Carla Sertin

Financial support enables Australian company to print stainless steel

An innovative 3D metal printing process developed by a Melbourne-based manufacturing technology business enables the printing of corrosion resistant, stainless-steel components on site, thanks to a vital funding injection. SPEE3D was established in 2015 by Byron Kennedy and Steven Camilleri with the specific aim of overcoming the challenges of making metal parts more conveniently. Today, […]

Posted inEnergy Transition

Carbon capture and the future of LNG in Asia

by Gavin Thompson, Wood Mackenzie Asia Pacific vice chair

CCS will play an important role in decarbonising LNG, but the pace of progress remains too slow

In the push for net zero, carbon capture is a critical piece of the jigsaw. Numerous carbon capture and storage (CCS) projects are now moving forwards around the world, aimed at significantly reducing the carbon emissions of not only oil and gas assets, but also those from power generation and difficult-to-decarbonise industrial sectors such as […]

Posted inEnergy Transition

Oil companies must plan major production drop by 2030s to meet 1.5°C target

by Carla Sertin

$1 trillion at risk if companies continue to pursue business-as-usual investment, according to Carbon Tracker Initiative

The world’s largest listed oil and gas companies cannot be considered aligned with global climate targets unless they plan for major production declines, with half facing cuts of 50% or more by the 2030s, warns a new report from the financial think tank Carbon Tracker released today. It reveals that companies are still approving billions […]

Load more