IEA: OPEC+ needs to increase supply to keep global oil markets adequately supplied
Global oil demand is set to return to pre-pandemic levels by the end of 2022, according to the International Energy Agency's latest monthly oil report.
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Global oil demand is set to return to pre-pandemic levels by the end of 2022, according to the International Energy Agency's latest monthly oil report.
Wood Mackenzie’s Ed Crooks has commented on the issues facing Big Oil as investor pressure and court challenges over climate change grow.
With the East African Oil Pipeline project recently getting the go-ahead, Uganda is set to produce its first oil as early as 2025 and production in the next five years is expected to jump to 230 000 bpd, from zero in 2021, according to GlobalData.
In order to maintain the same level of production in the mid-term, the country needs to stimulate the exploration sector and pour investments in less explored areas such as deepwater offshore T&T, says GlobalData.
From 2022, taxes will be limited to the low US$800 billion range, only ticking up in the early 2030s to about US$900 billion, before starting their final and uninterrupted decline to as low as US$580 billion in 2040 and about US$350 billion in 2050, according to Rystad Energy.
The winners of the Decom Awards 2021 were announced week commencing 17 May 2021, in an online event which rounded off Decom North Sea’s inaugural Decom Week.
Hydro Energy Group, an energy recruitment specialist, has signed an exclusive deal with Next Geosolutions, an independent geoscience and engineering service provider, to deliver more than 40 staff in onshore and offshore positions.
Dolphin Drilling is one of the first companies of its kind to successfully secure the certification, demonstrating its commitment to addressing energy performance.
75% of contractors anticipate moving into renewables work over the coming three to five-year period, the highest level recorded since the question was first asked in 2015.
Simon Jagers, Samotics, the Netherlands, explains how measuring current and voltage topside can prolong downhole run life in electric submersible pumps.
New entrant countries show great gas supply potential for the region but weigh heavily on mega projects getting the green light and suppression of ongoing civil unrest and domestic instability that is hampering progress in the sector, says GlobalData.
Wood Mackenzie estimates the range of pre-tax future valuations for upstream is US$14 trillion – from US$9 trillion to US$23 trillion – as a result of uncertainty over future oil demand.