The past few weeks have seen extensive merger and acquisition activity in oil and gas, from new operators consolidating legacy field holdings to new, up-and-coming oilfield services providers. World Oil editors review how these companies are positioning to drive innovations in how fossil fuels are explored and produced. SourceContinue Reading
Affected employees are being asked to reapply for their existing positions, with layoffs set to take place beginning October 23rd. SourceContinue Reading
The settlement will restore production at six fields already shut down by the dispute and prevent an escalation to another six over the weekend. Those facilities pump about 130,000 barrels of crude oil and 43 million cubic meters of gas a day. SourceContinue Reading
Petroleos Mexicanos returned to capital markets Thursday for its first debt sale since January as the embattled oil producer seeks to tap improved demand from investors. SourceContinue Reading
The energy discovery in the Black Sea is critical for Turkey’s current-account balance which is dragged down by the need to import nearly all of the 50 billion cubic meters of gas the country consumes annually. SourceContinue Reading
Every year, the Latin American nation locks in the price of its oil exports by buying put options from Wall Street banks. The deal typically roils the market, creating violent swings in the price of oil options. SourceContinue Reading
The ReLineWL straddle is a one-trip, rigless system developed to address common well integrity issues and has enabled a Gulf of Mexico operator to troubleshoot an inoperable safety valve, passing through a restriction that conventional straddles could not pass through. SourceContinue Reading
Digital Well Operations is the industry’s first open and integrated well operations software that seamlessly connects the entire value chain – operators, service providers, logistics providers and rig providers – to deliver more efficient and safe wells. SourceContinue Reading
OPEC expects world oil demand will return to pre-crisis levels in 2022, by which time the group will need to provide 34.3 million barrels a day, or about 1.4 million more than previously projected. The 13-member cartel controls about a third of global supplies. SourceContinue Reading
The world’s biggest producer of wind and solar power has now surpassed the oil majors, leading a spectacular rally in power stocks as much of the world shuns fossil fuels to fight climate change. SourceContinue Reading
