The global data business in the oil & gas market is projected to rise at a compound annual growth rate of 16.5% for the next decade, rising from a valuation of $31.6 billion in 2022 to $145.9 billion by 2032. SourceContinue Reading
Discovered via a trio of wells drilled by the Valaris DS-12 drillship in 2019, the high-quality gas at BirAllah represents the largest deep water gas discovery of 2019 and the third largest overall. SourceContinue Reading
Nigeria expects to raise its daily crude production closer to its OPEC quota in about two weeks as authorities re-open wells that had to be shut to keep criminals at bay. SourceContinue Reading
MCE Deepwater Development returned to its in-person conference in London this month. By all accounts, it exceeded its goal of bringing together technical experts from across the global industry. SourceContinue Reading
The National Ocean Industries Association announced that TechnipFMC and Aker Solutions are the winners of the 2022 NOIA Safety in Seas Awards competition. SourceContinue Reading
KCA Deutag, a global drilling, engineering and technology provider, secured contract extensions and options totaling over $170 million, with the majority focused on extensions with existing clients across core markets in the Middle East. SourceContinue Reading
Russia’s second-largest oil producer Lukoil PJSC said Chief Executive Officer Vagit Alekperov will resign, in the latest sign of growing pressure on the nation’s energy industry since the invasion of Ukraine. SourceContinue Reading
Valero Energy Corp.’s trading division was the largest buyer of crude oil in the Biden administration’s second sale of emergency stocks that were part of the White House’s efforts to combat surging energy prices after Russia invaded Ukraine. SourceContinue Reading
Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing. SourceContinue Reading
Mexico’s state-owned oil giant Petroleos Mexicanos will resume paying its debt maturities this year, ending a government policy of covering its amortizations to help the beleaguered driller shore up its finances, according to a Finance Ministry official. SourceContinue Reading
