US upstream news

The hardware is destined for the first-ever 20 000 psi-rated field to be developed in the Gulf of Mexico.

Oil prices reversed early losses on Wednesday as some confidence that the existing vaccines can counter the new Covid-19 strain offset concerns over President Trump’s stimulus package pushback.

Oil prices declined on Tuesday as the market ignored news of the US stimulus deal, focusing on the new Covid-19 strain setback.

Shell has said it will write down the value of oil and gas assets by US$3.5 billion to US$4.5 billion.

Tri-D will provide design and advanced manufacturing IP to integrate sensors and electronic components into MISI pipelines used in oil and gas production.

The deal is expected to provide the catalyst for future international expansion in the Middle East and, in particular, Saudi Arabia.

The company will provide connectors for the Khaleesi/Mormont and Samurai tieback project in the US Gulf of Mexico.

Unless an effective COVID-19 vaccine is made available, the uncertainty in global energy demand will continue to weigh down oil prices, and delay shale industry recovery.

Chevron has cut billions off its long-term capital and exploratory budget after a major restructuring of its operations.

ExxonMobil has said it will write down the value of natural gas properties by US$17 billion to US$20 billion.