Tag: upstream
Can oil and gas upstream cost savings stick?
Survey sees operators keeping close a close eye on cost inflation in 2018 The impact of the 2014 oil price collapse is still being felt across the upstream sector. Operators have cut investment, deferred projects and implemented tough cost discipline, slashing US$910 billion from global capital expenditure estimates for 2015-2020. While many operators believe the […]
Upstream companies shift focus from survive to thrive in 2018 – Wood Mackenzie
Upstream sector puts price collapse behind it, primed to build for future Oil and gas companies are set to enter 2018 in their best shape since oil prices collapsed. In its 2018 Upstream Outlook, global natural resources consultancy Wood Mackenzie believes many will now focus on demonstrating they can thrive at low prices. “Now that the […]
World Bank teams up with Canada to help developing countries transition from coal
Starting in 2019, World Bank Group will stop financing upstream oil and gas exploration and production in developing countries The World Bank says it will work with Canada to help developing countries transition away from coal-fired power generation. In a separate announcement at the One Planet Summit, the global organization set up to promote economic development and […]
Global upstream oil and gas investment falls 25% in 2016, modest rebound in 2017 – IEA
Rapidly growing economies of Southeast Asia represent over 4% of global energy investment Total energy investment worldwide in 2016 was just over $1.7 trillion, accounting for 2.2 per cent of global GDP, according to the International Energy Agency(IEA). Investment was down by 12 per cent compared to IEA’s revised 2015 energy investment estimate of […]
Global upstream investment on track to double in 2017 – Wood Mackenzie
Majors continue to dominate new project sanctions According to a recent Wood Mackenzie report “A big year for FIDs: 2017 marks a turning point“, the number of upstream projects reaching FID (final investment decision) in 2017 could double to 25 compared to only 12 last year. In the first half of the year, the industry […]
University report finds Utica Shale investment has surpassed $50 billion
Thanks to fracking, Ohioans do not have to choose between stable jobs or clean air by Jackie Stewart, EnergyInDepth A new Cleveland State University (CSU) report entitled “Shale Investment Dashboard in Ohio” finds total Utica Shale investment topped $50.4 billion from 2011 to the summer of 2016. That total includes $38.8 billion in upstream investment […]
NEB may consider upstream, downstream emissions for Energy East review
All Canadians can comment on topics considered by NEB hearing panel The National Energy Board (NEB) is seeking public input on what topics should be considered in the review of the Energy East and Eastern Mainline pipeline projects, according to a press release. The public will have until May 31 to provide their comments. […]
Upstream oil/gas players grapple with uncertainty – Wood Mackenzie
Wood Mackenzie survey gauges the state of the industry The oil and gas industry is facing a challenging year. Oil prices remain volatile, and uncertainty remains about whether prices will recover from around US$50/bbl, according to Wood Mackenzie. Across the upstream sector, companies are considering their next investments, while weighing how to remain profitable in […]
Global upstream oil and gas M&A activity surges to $61 Billion
For upstream oil deals valued over $100 million in Permian, 9 were in Delaware Basin versus 5 in Midland Basin Q1 2017 global upstream oil and gas M&A transaction value was $61 billion, the strongest first quarter in the past ten years and almost half the $130 billion in 2016, according to oil and gas […]
New global upstream oil projects to double in 2017 – Wood Mackenzie
Potential for further improvement in drilling speed of 20% to 30% in some early-life tight oil plays Wood Mackenzie forecasts the investment cycle will show the first signs of growth in 2017 since 2014 and final investment decisions (FIDs) will double, compared with 2016. “2017 will demonstrate how efficient the oil and gas industry has […]
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