The value of the contracts also decreased by $18.8 billion since Q1 2021
Oil and gas contract activity declined following the relatively stable activity in Q1 2021, with the industry recording a seven percent decrease in the number of contracts and a significant decrease in disclosed contract value in Q2 2021, according to GlobalData, a leading data and analytics company. The latest report by GlobalData, ‘Q2 2021 Global […]
Industry must collaborate to cut emissions and transform corporate landscape
Oil and gas companies must use the current cash flow windfall opportunity to speed up decarbonisation of their businesses, global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK) said in a report released today. Stakeholders are demanding greater accountability for carbon emissions along the value chain. Net zero Scope 1 and 2 emissions by 2050 are now the industry […]
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 […]
US-based Comstock Resources is owned by Dallas Cowboys’ owner Jerry Jones and has its corporate headquarters in Texas, US
Fujairah Oil Terminal is a 7.4 million-barrel bulk liquid storage terminal that’s one of the largest bunkering ports in the world
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 […]
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 […]
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 […]
How can investors evaluate the changing oil and gas risk landscape? And what does it mean for valuations?
Oil and gas faces an existential crisis as global efforts to reduce carbon emissions gather strength and pace. In this new paradigm, definition and assessment of risk is critical. Risk has been inherent in oil and gas investment since the first wells were drilled. But the risks facing the industry are in many ways greater […]
Russia’s current monthly oil and condensate production record was set in December 2018 with 11.5 million bpd
The OPEC+ coalition’s recent agreement to steadily raise oil production is paving the way for Russia to slowly shrug off Covid-19 curtailments. The country is on track to set a new monthly crude and condensate output record of 11.6 million barrels per day (bpd) already in July 2022, a Rystad Energy analysis reveals. Russia’s oil […]
