Woodside Energy’s (ASX:WDS) latest production guidance for 2023 has fallen short given delays at new oil projects in West Africa and the US, as well as a maintenance shutdown at the Pluto LNG export complex in Australia.
Indonesian national oil company (NOC) Pertamina plans to spend $10.7 billion in 2021. This is more than double its capital spend of $4.7 billion last year.
China Oilfield Services Limited (COSL) is expected to have another solid year in 2021 as offshore capital spending is set to surge to record levels in China.
Tullow Oil said that its financial position for the year to date was in line with expectations, with capital spending set to be around £1.3billion in 2013.
Drilling firm Seadrill has increased its ownership in Norway's Sevan Drilling to just over 30% following a listing of new shares.
Wood Mackenzie has warned the UK Government to be constantly aware of the investment environment to maximise development of remaining oil and gas reserves.
Talisman Energy said yesterday it had decelerated its spending on some projects in the UK North Sea to take advantage of a slowdown in the contracting environment.