Following the announcement that several key operators in the Permian Basin were significantly reducing capex or production in their positions as a result of the severe oil price fall; Adrian Lara, Oil and Gas Analyst at GlobalData, a data and analytics company, said of the fallout:
“Of all the unconventional plays, the Permian Basin reduction in forecast production growth will be the largest in absolute terms and exemplifies quite well the collateral effect sought by the...
Following oil prices plummeting to an 18-year low on March 18 as a result of the coronavirus-fuelled crisis and oversupply led by Saudi Arabia and Russia cutting oil prices and boosting exports, the Soviets remain in a strong position to weather out the storm.
Anna Belova, Senior Oil & Gas Analyst at data and analytics company GlobalData, said Russian oil and gas operators showed no signs of slowing down as both Russia and the Saudis continued to slash...
The Australian natural gas industry is responding to the personnel and operational challenges posed by the COVID-19 pandemic to ensure vital energy supplies are maintained.
The Australian Petroleum Production & Exploration Association (APPEA) and Australian Pipelines and Gas Association (APGA) are working with members, governments and energy users to ensure the delivery of essential gas supply to local customers.
APPEA Chief Executive Andrew McConville and AGPA Chief Executive Officer...
88 Energy has announced that drilling of the production hole at the Charlie-1 appraisal well on the Alaska North Slope at Project Icewine will commence imminently.
88E and farm-in partner Premier Oil are targeting 1.6 billion barrels of gross mean prospective oil resource potential, with 480MMBO net to 88E.
As part of the farm-in deal, 88 Energy will operate Charlie-1 via its 100% owned subsidiary Accumulate Energy Alaska, Inc and the cost of the well will be funded by Premier...
Following the news that Saudi Arabia is responding to Russia’s refusal to a new oil production cut agreement by cutting oil prices and boosting supply, Will Scargill, Managing Oil & Gas Analyst at GlobalData, said of the likely outcome.
“The Saudis’ apparent price war is a risky strategy that may take months to play out. In reality, the brunt of the previous OPEC production cuts were borne by OPEC members and Saudi Arabia more specifically, with Russia not implementing significant...
The collapse in crude oil prices is wiping out much of the US petrochemical competitive advantage while global demand is being slammed by the continuing spread of the coronavirus. Financial markets are seizing up, throwing a wet blanket on new chemical investment and M&A activity, and ratcheting up the risk of a global recession, reports Joseph Chang, Global Editor, ICIS Chemical Business.
“All things being equal, this [crude oil plunge] would tend to diminish competitiveness of...
CO2CRC is bringing together leading Australian energy and resources companies and advisory bodies at Australian Parliament House, Canberra.
The inaugural CO2CRC CCS Policy Forum will be convened to develop a consensus industry view on a practical CCS policy framework that will stimulate CCS project investment and development in Australia.
CO2CRC Chairman, Martin Ferguson AM, said that CO2CRC was pleased to begin this important initiative, leveraging industry leadership to help...
Equnior’s decision to withdraw its plans to drill for oil in the Great Australian Bight has been attributed to increasing carbon-related constraints in Europe.
That is the view of EnergyQuest CEO Dr Graeme Bethune, an energy analysis and strategist, who described the decision as “disappointing for Australia and South Australia”.
“In our view, the decision is likely to have been driven by stronger carbon reduction targets of the European oil...
From a starting point of approximately 1.2 billion cubic feet per day (bcfd) of export capacity in 2016, the US will become the third most important liquid natural gas (LNG) exporting country with a total capacity of 8.9bcfd by the end of 2020, according to data and analytics company GlobalData.
Adrian Lara, Senior Analyst Upstream Americas at GlobalData, comments: “By the year 2025, the additional capacity from new trains in existing plants, as well as from newly constructed plants,...
APPEA has welcomed the announcement by the Victorian Opposition to support lifting the state’s moratorium on conventional onshore natural gas development.
APPEA Chief Executive Andrew McConville said Victorian homes and business would continue to bear the cost burden if the politically-motivated ban on gas development remained in place.
“Natural gas will continue to be a significant source of energy for Victoria for decades ahead, and a sensible position on...