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  1. Latest DW report sees bright spots amidst oversupply

    Offshore staff LONDON – Douglas-Westwood (DW) has issued the latest version of its quarterly World Drilling and Production (DWD&P) Market Forecast. The report projects that while oversupply is likely to increase again in 2017, there are several areas that will have stable activity in the medium-term. Continued outages in Nigeria, a rumored OPEC production freeze as well as output reductions onshore US, due to bankruptcies and capital expenditure cuts amongst shale producers, have helped oil prices rally from record lows. As such, DW anticipates the first decline in onshore oil production since 2009. The oversupply is likely to increase once more in 2017 with a recovery in Nigerian production as well as large output additions from both OPEC and non-OPEC sources. However, DW has identified several areas with stable activity in the medium-term. In Russia, demands for supply agreements with China and new LNG projects will lead to growth in gas-targeted drilling, offsetting decreases in oil-related activity. Western Europe will see offshore development drilling levels maintained due to a number of developments sanctioned before the oil price crash. Unsurprisingly, the Middle East will see strong drilling growth, both onshore and offshore, as the region’s OPEC members continue with their strategy of defending market share. This will lead to over 21,000 development wells drilled over 2016-2022, up 28% on the preceding seven-year period. The production gains in Western Europe are just one example of an offshore region increasing production in the medium-term as a result of the positive effects of the last upcycle. Over 2016-2018, combined offshore oil and gas output will increase in all eight of the regions covered in DWD&P as a result of developments sanctioned in the “boom years” of 2011-2014. DW cautions, however, that this poses a significant threat to oil price recovery over the next few years. 09/28/2016 

    Online Articles

    Online Articles

    Wed, 28 Sep 2016

  2. Cedigaz: Global gas demand to rise 1.6%/year over 2014-35

    Worldwide natural gas demand is expected to rise 1.6%/year during 2014-35, driven by emerging markets, electric power generation, and industry, according to a recent outlook from Cedigaz.

    Online Articles

    Online Articles

    Fri, 1 Jul 2016

  3. ExxonMobil to acquire InterOil in deal valued at more than $2.5 billion

    ExxonMobil Corp. has agreed to acquire all outstanding shares of InterOil Corp. for more than $2.5 billion. The deal is expected to close in September. Oil Search Ltd. in turn has withdrawn from its InterOil takeover attempt. An initial agreement between Oil Search and InterOil was announced in ...

    Online Articles

    Online Articles

    Thu, 21 Jul 2016

  4. Oil Search to acquire InterOil

    Oil Search recently announced both an agreement to acquire InterOil Ltd. and signed a memorandum of understanding with Total.

    Online Articles

    Online Articles

    Tue, 24 May 2016

  1. NextDecade files FERC application, reaches major milestone for Rio Grande LNG and Rio Bravo Pipeline

    Online Articles

    Online Articles

    Mon, 9 May 2016

  2. Japan's nuclear woes could boost Australia's LNG projects

    Australia’s Resources and Energy Minister Martin Ferguson said his country stands to benefit from helping Japan to maintain energy security following the Fukushima nuclear crisis.

    Online Articles

    Online Articles

    Mon, 11 Apr 2011

  3. Shale gas drives $120B in LNG projects in North America

    The shale gas boom in North America has triggered a massive build-up of liquefied natural gas (LNG) infrastructure, with companies investing a whopping $120 billion in a bid to capture a slice of the lucrative global market.

    Online Articles

    Online Articles

    Thu, 15 May 2014

  4. Woodside to buy Apache’s interests in Wheatstone, Kitimat LNG for $2.75 billion

    Woodside Petroleum Ltd. has agreed to acquire interest in the Wheatstone LNG and Kitimat LNG projects , respectively in Western Australia and British Columbia, along with accompanying upstream oil and gas reserves, belonging to Houston independent Apache Corp. for $2.75 billion.

    Online Articles

    Online Articles

    Mon, 15 Dec 2014

  5. NextDecade hires general counsel and chief commercial officer

    NextDecade LLC, a development and management company of liquefied natural gas ( LNG ) projects , has hired Krysta De Lima as general counsel and Alfonso Puga as chief commercial officer.

    Online Articles

    Online Articles

    Wed, 23 Sep 2015

  6. Joint FERC applications submitted for LNG project approval

    Venture Global LNG Inc.’s subsidiaries Venture Global Calcasieu Pass LLC and TransCameron Pipeline LLC have submitted their joint application to the US Federal Energy Regulatory Commission pursuant to Sections 3 and 7 of the Natural Gas Act with regard to the companies’ Calcasieu Pass LNG projects .

    Online Articles

    Online Articles

    Wed, 9 Sep 2015

  7. Wood Mackenzie: LNG construction sector hits peak and faces steep fall

    Wood Mackenzie warns that the LNG engineering, procurement, and construction (EPC) sector, which has generated over $200 billion of revenue in the last decade, will be facing its steepest decline in decades, leading to heightened competition and downsizing.

    Online Articles

    Online Articles

    Tue, 10 Nov 2015

  8. Mubadala Petroleum, CNPC sign cooperation agreement

    Mubadala Petroleum has signed a nonbinding agreement with China National Petroleum Corp. (CNPC) that identified potential future collaboration in the upstream oil and gas sector outside of UAE. More specifically, the national operating companies are identifying onshore conventional projects, ...

    Online Articles

    Online Articles

    Mon, 14 Dec 2015

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