Industry Trends
News
August 04, 2022
As oil prices continue to linger around the $100-plus/bbl price, mergers and acquisitions in the sector have been pushed to a three-year high, as well as private equity deals that may experience a record year.
News
August 02, 2022
Quarterly and annual results only give you a snapshot showing what has been happening in recent months, so they do not tell you much about longer-term trends, said Will Webster, energy policy manager at Offshore Energies UK.
News
August 01, 2022
Baker Hughes agreed to sell its Oilfield Services business in Russia to its local management team, and the business will operate independently going forward, the company announced.
News
July 29, 2022
As the U.S. experiences two straight quarters of negative GDP growth, which meets the common definition of recession, Railroad Commission of Texas Chairman Wayne Christian said high taxes, unnecessary regulations, and irresponsible deficit spending is what caused the mess we are in.
News
July 27, 2022
Baker Hughes has announced it is acquiring AccessESP, a provider of advanced technology for artificial lift solutions, to further transform core oil and gas operations by reducing costs and downtime for operators.
News
July 22, 2022
Schlumberger said annual sales will rise the most in 11 years as concern over inadequate energy supplies outweighs recessionary fears among major oil explorers.
News
July 22, 2022
Russia’s President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman discussed continued cooperation within OPEC+ in a phone call, according to a statement from the Kremlin.
News
July 21, 2022
Oil majors that want to reduce their carbon footprint will have to shift their activities to energy basins where drilling rigs can be powered by renewables and which have ample space for carbon sequestration, a report indicates.
Article
July 2022
On June 30, 2022, the U.S. Supreme Court ruling in the case of West Virginia vs. the EPA caused a panic amongst anti-oil activists. Some consider this the beginning of an ESG rollback, but I believe this is an overreaction.
Article
July 2022
We refer to things like poor, deliberately counterproductive energy policies in some countries; a lack of manpower resources from which to draw more technical talent; supply chain problems; shortages of certain raw materials; and inflationary costs for just about everything. Yet the pace of new technology development remains strong.
News
July 20, 2022
The world’s biggest provider of fracing services is banking on a “multi-year upcycle” outside of its North American base, according to a statement.
Article
July 2022
Faced with oppressively high prices at the pump and escalating energy costs that negatively impact our daily lives, one must wonder: what can be done to rectify this situation?
Article
July 2022
Although the call for significant change and transformation of the oil and gas industry was underway prior to the Covid-19 outbreak, the drive to develop new technology to increase efficiency, lower costs and reduce GHG emissions was accelerated by the pandemic.
Article
July 2022
Despite rising interest rates and fear of economic recession, crude prices climbed in July, as the war in Ukraine continued to restrict Russian supply. WTI surged 4.8%, hitting $114.84/bbl, with Brent trading at $122.71/bbl, up 8.3% compared to May.
News
July 19, 2022
Nigeria’s state-owned energy firm will now operate as a commercial entity without relying on government funding and direct controls, President Muhammadu Buhari said on Tuesday.
News
July 19, 2022
The inauguration of the Nigerian National Petroleum Company Limited initiates a monumental shift in active engagement, accountability and value that is expected to reshape Nigeria’s petroleum industry, while simultaneously acting as a model for other National Oil Companies on the continent.
Article
July 2022
After improving considerably during first-quarter 2022, E&P activity in the southwestern U.S. grew further in the second quarter, hitting its highest level in the Dallas Fed survey’s six-year history. However, cost escalations and supply chain issues are major problems.
Article
July 2022
Industry CEOs should be prioritizing customer value above all else.
News
July 15, 2022
Half-year data points for the offshore market released by Clarksons Research, profiling improving activity, utilization and day rates across the offshore oil and gas market, show the overall index is up 17%.
News
July 14, 2022
Overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets. Despite that, about $12 billion was transacted in upstream M&A.
News
July 13, 2022
As U.S. President Joe Biden prepares to visit the Persian Gulf to get more oil onto global markets, political turmoil in another part of OPEC threatens to further undermine the cartel’s production.
