The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million bpd of crude production.
The biggest M&A deal of 2Q19 was Occidental Petroleum’s acquisition of Anadarko Petroleum for US$55 billion.
US Light Tight Oil (LTO) represented less than 1% of global oil supply nine years ago but now represents close to 10% of total global oil supply, a percentage which is expected to continue its ascent going forward.
The research and business intelligence company is forecasting a 4% decline in global oilfield service revenue if oil prices stay flat next year.
The report reveals that gas is the only fossil fuel expected to continuously rise in demand through to 2035.
Adam Johnson, director of Leeds-based Tudor International Freight, has said the UK oil and gas industry should continue its preparations for a no-deal Brexit, despite Parliament's recent passing of legislation designed to avert such an outcome.
Adam Weinstein, Validere, argues that the contamination of oil in the Druzhba pipeline earlier this year hints at an industry wide problem, and suggests that the answer lies in the Industrial Internet of Things and artificial intelligence.
Rickard Dalman, Operations Manager, Integrity Management at Oceaneering, explains how implementing a risk, reliability and maintenance approach can reap considerable dividends for asset owners.
The Net Zero Solution Centre will aim to accelerate the development and deployment of technologies to decarbonise offshore operations and develop the UK Continental Shelf as the first net zero oil and gas basin globally.
Wood Mackenzie senior analyst David Low discusses potential M&A activity in the Australian upstream sector over the next 12 months.