Oil production from non-OPEC countries is expected to grow at record speed in 2020, creating a headache for the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to meet this week in Vienna to discuss extending oil production cuts.
According to a study, the autonomous underwater vehicle market is expected to be valued at US$ 371.3 Mn in 2019. During the course of the forecast period, the market is expected to register a CAGR of over 6%.
Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, based on Rystad Energy’s latest data and forecasts.
TechnipFMC has announced its intent to sell the G1201 vessel as part of its overall strategy to optimize the profile and size of its subsea fleet. Following the recent announcement of the Company’s alliance agreement with a best in class partner for pipeline installation using S-lay technology, this supports the Company’s intent to use collaboration agreements, where possible, to execute its differentiated iEPCI™ business model.
A US$106 million (SGD$144 million) fund dedicated to preventing plastic from entering the Asian oceans was launched on December 4, 2019. The Circulate Capital Ocean Fund (CCOF) is the world’s first investment fund dedicated to address Asia’s plastic crisis. The Singapore-based fund is also one of the ten largest ASEAN-based Venture Capital Funds in the market.
In a pivotal shift, the US is only months away from full energy independence. By 2030, total primary energy production will outpace primary energy demand by about 30%, according to Rystad Energy’s latest forecast.
Abundant shale gas production in the US has enabled the country to export natural gas as liquefied natural gas (LNG) to global markets. This has supported the country in signing the highest volume of global long-term LNG export contracts in 2019, accounting for around a 67% share, according to GlobalData, a leading data and analytics company.
A fresh wave of offshore project sanctions across Southeast Asia could boost greenfield investments in the oilfield service space by almost 70% in 2020, according to Rystad Energy.
Barring additional oil production cuts by OPEC in 2020, Rystad Energy forecasts a substantial build of global crude stocks and a corresponding drop in oil prices.
Despite massive cuts in investment the US Gulf of Mexico is set for another year of record oil production in 2020, according to Rystad Energy.
GATE Energy announces the strategic expansion of its credit facility with Prosperity Bank. This demonstrates Prosperity's confidence with GATE Energy's performance and future growth. As part of this partnership, GATE Energy has access to additional capital that will fund organic growth and strategic acquisitions.
Following the recent news that Saudi Arabia’s national oil company Saudi Aramco will issue its prospectus to potential investors in its initial public offering (IPO);
McDermott International, Inc. (NYSE:MDR) ("McDermott" or the "Company") announces that it has been granted access to the second tranche ("Tranche B") of the $1.7 billion superpriority senior secured credit facility (the "Agreement") announced on October 21, 2019.
Global merger and acquisitions (M&A) and raising activity in the oil and gas upstream sector totaled US$63.4bn in Q3 2019, representing a 50% decrease from the US$126.8bn in M&A and capital raising deals announced in Q3 2019. By volume, the number of deals decreased by 30% from 338 in Q2 to 269 in Q3, says GlobalData, a leading data and analytics company.
Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total of $27.5 billion, according to Rystad Energy’s latest assessment.
Over the last four years oil and gas production in the West of Shetlands has risen and with that, a growing relevance for the biggest players still active in the UK continental shelf (UKCS), says GlobalData, a leading data and analytics company.
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