Major Sub-Saharan African countries have a relatively small number of projects in the pipeline in the next five years
oil majors
Posted inExploration & Production
European oil majors near pre-pandemic income levels despite weakened revenues
The European oil majors saw large losses in 2020 as long-term oil and gas price forecasts were revised lower resulting in multi-billion-dollar asset impairments
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Posted inExploration & Production
Big Oil proven reserves could run out in less than 15 years if discoveries don’t ramp up
Produced volumes are not being fully replaced with new discoveries among the oil majors
Posted inDRILLING & PRODUCTION
Big oil incurred record loss in 2020, joint output fell by 0.9 million boepd and will peak lower in 2028
The major chunk of this loss, $69 billion, can be attributed to asset impairments and write-offs as the supermajors re-evaluated their strategy to focus on energy transition and become less dependent on petroleum
Posted inDRILLING & PRODUCTION
Are oil majors ready to become part of the climate-change solution?
Oil producers across the globe have made commitments to be part of the energy transition
Posted inDRILLING & PRODUCTION
Oil majors prove resilience through downturn
Simon Redmond, senior director, commodities at S&P Global Ratings, believes capex cuts by oil majors since the downturn has had minimum impact on production.