Rystad Energy: global OCTG demand to decline by 15% in 2020
The US is seeing an immediate and severe drop in OCTG tonnage requirements, as operators have slashed their drilling programmes by in some cases up to 50%.
Stay up to date with the latest news and updates from the oil industry.
The US is seeing an immediate and severe drop in OCTG tonnage requirements, as operators have slashed their drilling programmes by in some cases up to 50%.
The discovery in the onshore Central Sumatra Basin amounts to 61.8 million bbl, according to Cue Energy Resources, which a 12.5% interest.
A new report published by OGUK shows domestic oil and gas production in 2019 met nearly two thirds of the UK’s oil and gas demands.
The announcement by Mexico's president, Andres Manuel Lopez Obrador, did not make clear how much production would be removed by the closure of new fields and whether it would exceed a 100 000 bpd quota already agreed with the OPEC+ group of producing countries.
The company cited current market conditions for its withdrawal from a consortium evaluating the acquisition of Shell's upstream portfolio in the Western Desert in Egypt.
Rystad Energy's Oil Markets Analyst Louise Dickson has said that WTI June 2020 deliveries could also be on their way into the red.
In the first part of a two-part article, Harald Holden, Ignacio Marré and Heidi Gryteland Holm, 4Subsea and Randi Næss, Lundin Norway, discuss the design parameters that must be considered during the design phase of a subsea exploration well.
The sister event to SPE Offshore Europe is to move from a face-to-face conference and exhibition to a virtual conference format.
Rystad is estimating that the industry's revenues will fall this year by 51% in a US$30 Brent scenario and by 77% if the Brent falls to US$20, compared to levels seen in 2019.
The VOX evaporation technology evaporates produced water from production sites into the atmosphere with low emissions.
The contract is expected to start in 3Q20, with a duration of about 30 – 45 days.
Rystad Energy's Head of Oil Markets, Bjornar Tonhaugen, has commented on the recovery of oil prices from negative levels yesterday.