Petrobras set to become world’s largest oil producer
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.
Rystad
Majors’ global selling spree could fetch $27.5 billion
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.
Permian flaring spikes to new record highs again
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.
Save the world, shrink the majors, new report says
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.
Oilfield service companies are going beyond oil – Rystad
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.
BP and Shell at opposite ends of Rystad M&A ranking
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 price rises due to Gulf tensions and Saudi supply doubts
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.
Jump in oil price could send service company margins higher – Rystad
The recent oil price jump could create further momentum for service sector margins, according to Rystad Energy.
Aramco to face weeks without majority of Abqaiq’s oil output
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.
Global service market will sink into recession next year – Rystad
Lower oil prices will push the global service market into a recession in 2020 after three successive years of growth, according to Rystad Energy.
Exploration wells and FIDs beckon for UKCS
The UK upstream oil and gas sector will be a hive of activity over the coming years, two global energy consultancies have said.
New wave of UK project sanctions out to 2022, Rystad predicts
The UK offshore scene is poised for a timely comeback, according to energy consultancy Rystad.
Diesel sales down 95% in Norway as EVs gain momentum
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.
Employment is shifting from shale to offshore, Rystad says
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.
ExxonMobil’s Norway exit could break records, Rystad says
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.
Oilfield service firms starting to lift prices, Rystad says
After several years in the doldrums, oilfield service companies are beginning to raise prices for their products and services, according to Rystad Energy.
Rystad: Uncertain OPEC should keep current cuts flat
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+ proposes mid-July meeting to settle dispute over dates
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.
E&P companies awash in cash – and more could be in store for this year
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.
Rystad forecasts a boom in Xmas trees
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.
Volumes from new oil and gas projects set to triple in 2019, says Rystad
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.
Rystad: The 30 wildcats to look out for in 2019
After years of budget cuts, oil and gas companies are finally stepping up their exploration game. Several wildcat wells planned for 2019 have the potential to be “elephant” finds, according to Rystad Energy.
33 FPSOs to be sanctioned to 2021, predicts Rystad
A total of 33 floating production, storage and offloading (FPSO) vessels will be sanctioned between now and 2021, according to a new analyst forecast.
Future looks bright for global subsea engineering
Life is looking up on the subsea front.
Glengorm will likely be an industry hotspot for years, Rystad says
The oil and gas world is abuzz with news of a major gas find in the UK as operator CNOOC and partner Total unveiled the largest discovery in British waters since 2008.