Newsletter subscribe
Tag: Exploration & Production
ExxonMobil

ExxonMobil to significantly reduce spending due to market conditions

Posted: March 18, 2020 at 1:09 pm   /   Oil & Gas

U.S. oil major ExxonMobil is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases. The oil price war and the sudden and sharp decline in oil prices as well as the global outbreak of the coronavirus have pushed oil and gas operators to reconsider […]

No Comments read more
Wintershall Dea APC-2020

Wintershall Dea to host its 2020 Annual Press Conference “Fully Online”

Posted: March 14, 2020 at 9:47 pm   /   Oil & Gas

Wintershall DEA revealed Thursday that it will host its annual press conference “fully online” this year and cancel in-person events. The move is based on health advice from the national authorities and in line with the company’s duty of care to its stakeholders and its own people, Wintershall DEA outlined. The press conference will be […]

No Comments read more
oil price

Pharos, TransGlobe slash spending in response to oil market volatility

Posted: March 14, 2020 at 9:39 pm   /   Oil & Gas

Energy companies in Egypt are adapting to the new realities in the oil markets: The collapse in oil prices is forcing energy companies in Egypt onto the defensive: Energy companies operating in Egypt, including Pharos Energy and TransGlobe Energy, are responding to oil market volatility by slashing spending and adjusting production metrics in 2020, Energy […]

No Comments read more
apache

Apache responds to challenging oil market by cutting capex by 40%

Posted: March 14, 2020 at 9:32 pm   /   Oil & Gas

Apache responds to current challenging market by slashing spending: Houston-based oil and gas company Apache Corporation has announced multiple actions in response to current challenges in the oil market featuring an oil price war between Saudi Arabia and Russia following the OPEC+ breakdown, the effect of the coronavirus outbreak on global oil demand, and the […]

No Comments read more
Wintershall Dea

Wintershall Dea to appoint Dawn Summers as new Chief Operating Officer

Posted: March 10, 2020 at 10:06 pm   /   Oil & Gas

Dawn Summers will become COO and responsible for EMEA region by 1 June 2020. More than 25 years of experience in the international E&P industry. Dawn Summers is to be appointed to the Executive Board of Wintershall Dea. As Chief Operating Officer (COO) she will be responsible for the Business Units Germany, Norway, the Netherlands, […]

No Comments read more
East Med

Eastern Mediterranean Gas: What Prospects for the New Decade? ISPI Opinion

Posted: March 10, 2020 at 9:58 pm   /   Oil & Gas

This Commentary Piece by Simone Tagliapietra was originally published by ISPI (Italian Institute for International Political Studies). The last decade has seen the eastern Mediterranean region become a hotspot of the global natural gas industry, attracting increasing attention from multiple stakeholders also as a result of its high geopolitical stakes. Notwithstanding this momentum, progress has […]

No Comments read more
pharos

Pharos Energy confirms its interest in Shell’s Egypt upstream assets

Posted: March 8, 2020 at 1:52 pm   /   Oil & Gas

London-listed junior confirms it is in the ‘preliminary stage of its evaluation’ as part of consortium. London-listed junior Pharos Energy has confirmed it is eyeing Shell’s upstream portfolio in the Western Desert in Egypt, which was recently put for sale. Pharos Energy has confirmed its interest in purchasing Shell’s onshore oil and gas assets in […]

No Comments read more
shell

Apache, Cheiron, Pharos are bidding for Shell’s Egypt onshore assets – Reuters

Posted: February 27, 2020 at 1:49 pm   /   Oil & Gas

Apache Corp, Pharos Energy among bidders for Shell’s Egypt onshore assets: sources. Royal Dutch Shell’s onshore Egyptian oil and gas assets have drawn interest from American, Egyptian, Asian and Middle East bidders, two sources familiar with the matter told Reuters. Shell launched a process at the end of November to sell its onshore upstream assets […]

No Comments read more
Vox

Tech Giants ‪Google, Microsoft, Amazon‬ enter Oil Business using AI Machine Learning

Posted: February 18, 2020 at 1:00 pm   /   Oil & Gas

Big tech has entered the oil business: Google, Microsoft, and Amazon are keen to market themselves as leaders in energy-saving initiatives. But the same machine learning technology these companies use to reduce dependence on fossil fuels in some areas is also being used to automate oil and gas discovery and extraction, a video from Vox […]

No Comments read more
Shell Western Desert

Shell Egypt has not yet closed door to offers for Western Desert assets

Posted: February 15, 2020 at 3:26 pm   /   Oil & Gas

Shell Egypt has not yet closed the door to offers for its Western Desert assets, which the company is currently looking to offload, Chairman Khaled Kassem tells Reuters. Kassem did not disclose which companies have expressed interest so far. Sources say that companies were required to submit their indicative proposals on Monday, and Shell will […]

No Comments read more