Saudi Arabia has traditionally taken on the role of swing producer, thanks to its spare capacity, but the US may have to step up to the plate if the outage is prolonged
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Revealed: Top 30 Oilfield Services Companies of 2019
Our third annual ranking of the top oilfield services companies in the region has been released
National Oilwell Varco
National Oilwell Varco raked in $8.45bn in revenue in 2018, and in July 2019 reported $2.13bn revenue for Q2 2019, but saw a net loss of $5.39bn for that period. It noted in a statement announcing the results that although the North American onshore market has slowed, it is seeing growth in international and offshore […]
Oil price spike after Saudi attack likely short-lived: Rystad Energy
The market’s bullish response to the sudden drop in Saudi Aramco’s production following attacks on its infrastructure could be softened by Saudi Arabia’s crude reserves
US will tap into emergency oil reserves to fill supply gap after drone attacks on Saudi Aramco
US President Donald Trump tweeted that he will allow an undetermined amount of oil to be released from the nation’s emergency reserve to fill a potential supply gap
$100 oil unlikely in wake of Saudi Aramco drone attacks: S&P Global Platts
While oil prices will increase, S&P Global Platts sees Brent in the $70 range, not in the triple digits as suggested by other analysts
Upstream oil and gas M&A and capital raising deals totaled $130.5bn in Q2 2019
The figure increasing dramatically from the $27.8bn total for global mergers and acquisitions in Q1 2019
Growth in oilfield services industry to take a hit: Rystad Energy
Audun Martinsen, head of oilfield services research at Rystad Energy, forecasts a 4% decline in global oilfield service revenue if oil prices stay flat next year.
BP deploys continuous methane measurement for major oil and gas projects
It is part of a technology suite to reduce its greenhouse gas emissions, with real time data to speed up detection and response to leaks
No major changes to Saudi oil policy expected under new energy minister
Industry veteran and royal Prince Abdulaziz bin Salman is likely to keep Saudi oil policy constant during his tenure as the nation’s energy minister