One reason for the lack of movement on the MSGBC Basin could be the FID that was made on the cross-border Tortue/ Ahmeyim LNG development in 2018
Two major gas discoveries have been made in the MSGBC Basin; however, oil and gas companies so far have failed to capitalise on these significant resources, and it could be quite some time until we see an intention to develop them, says GlobalData, a leading data and analytics company. One reason for the lack of […]
Shell is in the process of divesting its operated joint ventures in Nigeria
Shell has started a process to divest all of its operated joint venture licences held by the Shell Petroleum Development Company (SPDC) in Nigeria. This includes a 30% interest in 19 Oil Mining Leases (OMLs). Gail Anderson, Research Director with Wood Mackenzie’s Sub-Sahara Africa upstream team, said: “There is considerable value upside across the joint […]
Digital technology can serve multiple purposes within the oil and gas sector’s health and safety departments, connecting systems and improving visibility
Digital transformation has continued to grow in the oil and gas sector, and it is increasingly seen as an important part of the industry’s health and safety strategies. With tighter budgets and fewer people onsite due to the COVID-19 pandemic, efficiency is key to optimizing operations while maintaining safety standards. “We don’t know when we’re […]
1.16 mmbd of crude and condensate production in Brazil in 2025 is expected from planned projects with identified development plans
Brazil alone is expected to contribute around 23% or 1.3 million barrels per day (mmbd) of global crude oil and condensate production in 2025 from key offshore planned and announced projects (new-build projects) that are expected to start operations between 2021 to 2025, according to GlobalData, a leading data and analytics company. The company’s report, […]
Japan is planning to lower its share of LNG in the power generation mix in 2030 to 20%
Japan’s recent revision to its Strategic Energy Plan (SEP) lowers the targeted share of liquefied natural gas (LNG) in the country’s power generation mix in 2030 to 20% from 27% previously, as a measure to cut emissions. A Rystad Energy analysis concludes that Japan’s targets are too ambitious to meet and that the changes the […]
Woodside has confirmed it is in discussions with BHP over a potential merger involving BHP’s entire petroleum business
A merger would create a new international ‘super independent’ built for scale and resilience, with a long-term focus on LNG but exposure in the medium term to high-margin, deepwater oil. BHP’s oil operations in the Gulf of Mexico (GoM) complements Woodside’s deepwater capabilities and add a new core focus area to Woodside’s existing portfolio. BHP […]
All of Agility’s largest businesses reported Q2 growth and profitability levels that were at or above pre-pandemic levels in 2019
Agility, a supply chain services, innovation and investment company, today reported second quarter 2021 earnings of 18.32 fils per share on net profit of $128 million (KD 38.6 million), an increase of 503.7% over the same period in 2020. EBIT increased 202.6% to KD 29.6 million, and revenue grew 26.6% to KD 112.2 million. For […]
A team led by engineering firm Forth has worked for the past two-and-a-half years on the creation of FSWBot, an innovative friction stir welding robotic crawler devised for internal repair and refurbishment of pipelines, and they are now looking for assistance to help bring the working prototype to the commercial stage. The FSWBot is being […]
The Oman-based land seismic acquisition company will use STRYDE’s Nimble and Compact systems to obtain better high-definition images for oil and gas exploration across several projects
Pioneering seismic technology provider STRYDE has announced an agreement with Africa Geophysical Services LLC, a land seismic data acquisition and processing company in Oman, to supply 154,000 of its nodes for projects in Oman and Africa. The deal is the largest for STRYDE in the Middle East and demonstrates the increasing preference for nodal systems […]
Leaders in the oil and gas sector need to adopt climate-focused principles into their business models and better organise their messaging
The collapse in demand due to Covid-19 restrictions on travel and the global decline in economic activity had a significant impact on the oil and gas industry. However, according to the Oil and Gas Global Market Report 2021: COVID 19 Impact and Recovery to 2030, the global oil and gas market is expected to grow […]
