The unseasonably warm weather in the northern hemisphere has undercut liquefied natural gas (LNG) demand and, combined with the steady rise of global supply levels, has resulted in record-low prices. Adding insult to injury, the coronavirus epidemic in China has reduced business and industrial activity, with January’s LNG imports dropping by about 10% year on year.
Most severe implications expected in Permian Delaware, NM
Looming wave of final investment decisions (FIDs) will provide massive boost for offshore oilfield service sector in Southeast Asia
Installed offshore wind capacity in US waters could reach 20 gigawatts (GW) by 2030 and annual investments in the sector could surpass $15 billion by the mid-2020s, according to Rystad Energy.
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.
Global giants of the oil and gas industry – the so-called supermajors – are looking to sell assets that could fetch a total $27.5 billion, according to Rystad Energy’s latest assessment.
The waste and pollution of natural gas in the Permian Basin reached new record highs yet again in the third quarter, according to a report from the Norwegian research firm Rystad Energy.
The seven majors must cut production by 35% by 2040, and emissions by 40%, if the world is to warm by only 1.6 degrees Celsius, according to a new report from Carbon Tracker Initiative.
Heavyweight oilfield service providers like Saipem and Baker Hughes are diversifying beyond oil and gas development projects and are moving increasingly into renewable energy projects, Rystad Energy finds.
European supermajors BP and Shell occupy the top spots on opposite sides of Rystad Energy’s M&A ranking for the oil and gas sector during the last five-year period.
Oil resumed gains as tension between the U.S. and Iran ratcheted up following the attacks on Saudi Arabia, while doubts remained over how fast the kingdom would be able restore lost output.
The recent oil price jump could create further momentum for service sector margins, according to Rystad Energy.
Saudi Aramco is growing less optimistic that there will be a rapid recovery in oil production from the weekend’s attack and now faces weeks or months before the majority of output is restored at the giant Abqaiq processing plant.
Lower oil prices will push the global service market into a recession in 2020 after three successive years of growth, according to Rystad Energy.
The UK upstream oil and gas sector will be a hive of activity over the coming years, two global energy consultancies have said.
The UK offshore scene is poised for a timely comeback, according to energy consultancy Rystad.
Sales of certain diesel models are in free-fall as Norwegians turn to Tesla and other makers of premium electric vehicles (EV), Rystad Energy finds.
Rystad Energy has analyzed the oilfield service industry sectors with the highest percent change of employment, and found that the main driver of employment is shifting from shale to offshore.
US supermajor ExxonMobil could be looking to fetch as much as $3.1 billion through the sale of its Norwegian portfolio, according to Rystad Energy.
After several years in the doldrums, oilfield service companies are beginning to raise prices for their products and services, according to Rystad Energy.
OPEC nations may be at odds with each other, but all they need to do is extend their current crude oil cutbacks through the end of the year to help keep the market relatively balanced, according to a new report.
OPEC proposed mid-July meetings with its allies in Vienna to discuss extending production cuts, after talks between Russia and Iran made some progress toward resolving a standoff over the date.
The world’s publically listed oil and gas companies are bringing in cash at the best rate ever witnessed even though oil prices have only partially recovered from the huge drop suffered in 2014 and 2015, according to Rystad Energy.
A rapid rise in subsea tree installations is projected for the global offshore industry in the coming years, as operators are poised to boost expenditure substantially on subsea equipment and installation.
A global surge in final investment decisions (FIDs) on new oil projects could see sanctioned volumes almost triple compared to 2018's total, analysts have said.